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REGISTERED NUMBER: 08146103 (England and Wales)


Financial Statements for the Year Ended 31 August 2023

for

Friends Choice Limited

Friends Choice Limited (Registered number: 08146103)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Friends Choice Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: Mr Ritesh Rai
Mrs Anju Lata Rai





REGISTERED OFFICE: Bridge House
9-13 Holbrook Lane
Coventry
West Midlands
CV6 4AD





REGISTERED NUMBER: 08146103 (England and Wales)





ACCOUNTANTS: Sterling Accounting Services Limited
Bridge House
9-13 Holbrook Lane
Coventry
CV6 4AD

Friends Choice Limited (Registered number: 08146103)

Statement of Financial Position
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 90,000 90,000
Tangible assets 5 67,160 80,328
157,160 170,328

CURRENT ASSETS
Stocks 112,380 143,690
Debtors 6 31,305 53,542
Cash at bank and in hand 257,205 171,415
400,890 368,647
CREDITORS
Amounts falling due within one year 7 306,192 238,296
NET CURRENT ASSETS 94,698 130,351
TOTAL ASSETS LESS CURRENT
LIABILITIES

251,858

300,679

CREDITORS
Amounts falling due after more than one
year

8

249,456

291,528
NET ASSETS 2,402 9,151

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 1,402 8,151
SHAREHOLDERS' FUNDS 2,402 9,151

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Friends Choice Limited (Registered number: 08146103)

Statement of Financial Position - continued
31 August 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 April 2024 and were signed on its behalf by:





Mr Ritesh Rai - Director


Friends Choice Limited (Registered number: 08146103)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Friends Choice Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represent net sales excluding Value Added Tax.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022
and 31 August 2023 90,000
NET BOOK VALUE
At 31 August 2023 90,000
At 31 August 2022 90,000

Friends Choice Limited (Registered number: 08146103)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 September 2022 5,781 171,830 177,611
Additions - 2,177 2,177
At 31 August 2023 5,781 174,007 179,788
DEPRECIATION
At 1 September 2022 - 97,283 97,283
Charge for year - 15,345 15,345
At 31 August 2023 - 112,628 112,628
NET BOOK VALUE
At 31 August 2023 5,781 61,379 67,160
At 31 August 2022 5,781 74,547 80,328

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 27,000 -
Other debtors 4,305 53,542
31,305 53,542

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade creditors 87,741 82,636
Taxation and social security 12,271 11,025
Other creditors 206,180 144,635
306,192 238,296

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.8.23 31.8.22
£    £   
Other creditors 249,456 291,528

Friends Choice Limited (Registered number: 08146103)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.23 31.8.22
value: £    £   
1,000 Ordinary £1 1,000 1,000