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REGISTERED NUMBER: 08374547 (England and Wales)















FRI PROJECTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






FRI PROJECTS LIMITED (REGISTERED NUMBER: 08374547)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Report of the Accountants 2

Balance Sheet 3 to 4

Notes to the Financial Statements 5 to 7


FRI PROJECTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: M W Jeffries





SECRETARY:





REGISTERED OFFICE: Nuvo House
Austin Way
Hampstead
Birmingham
B42 1DU





REGISTERED NUMBER: 08374547 (England and Wales)





ACCOUNTANTS: Four Oaks Taxation & Accounting Services Limited
Suite D, Astor House
282 Lichfield Road
Four Oaks
Sutton Coldfield
West Midlands
B74 2UG

FRI PROJECTS LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTOR OF
FRI PROJECTS LIMITED


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2023 set out on pages two to four and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Four Oaks Taxation & Accounting Services Limited
Suite D, Astor House
282 Lichfield Road
Four Oaks
Sutton Coldfield
West Midlands
B74 2UG


31 March 2024

FRI PROJECTS LIMITED (REGISTERED NUMBER: 08374547)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,703,866 1,682,830

CURRENT ASSETS
Debtors 5 307,491 339,857
Cash at bank and in hand 116,714 102,551
424,205 442,408
CREDITORS
Amounts falling due within one year 6 209,115 258,153
NET CURRENT ASSETS 215,090 184,255
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,918,956

1,867,085

CREDITORS
Amounts falling due after more than one
year

7

(299,389

)

(325,192

)

PROVISIONS FOR LIABILITIES (265,210 ) (125,476 )
NET ASSETS 1,354,357 1,416,417

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 8 938,875 938,875
Retained earnings 415,382 477,442
1,354,357 1,416,417

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

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

The director acknowledges his 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.

FRI PROJECTS LIMITED (REGISTERED NUMBER: 08374547)

BALANCE SHEET - continued
31 DECEMBER 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 director and authorised for issue on 31 March 2024 and were signed by:





M W Jeffries - Director


FRI PROJECTS LIMITED (REGISTERED NUMBER: 08374547)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Fri Projects 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - in accordance with the property
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

FRI PROJECTS LIMITED (REGISTERED NUMBER: 08374547)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 1,495,648 399,794 1,895,442
Additions - 59,216 59,216
At 31 December 2023 1,495,648 459,010 1,954,658
DEPRECIATION
At 1 January 2023 - 212,612 212,612
Charge for year - 38,180 38,180
At 31 December 2023 - 250,792 250,792
NET BOOK VALUE
At 31 December 2023 1,495,648 208,218 1,703,866
At 31 December 2022 1,495,648 187,182 1,682,830

Included in cost or valuation of land and buildings is freehold land of £ 50,000 (2022 - £ 50,000 ) which is not depreciated.

Cost or valuation at 31 December 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2021 1,495,648 459,010 1,954,658

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 556,773 556,773

Value of land in freehold land and buildings 50,000 50,000

Freehold land and buildings were valued on an open market basis on 31 December 2021 by the director .

FRI PROJECTS LIMITED (REGISTERED NUMBER: 08374547)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 110,248 200,476
Amounts owed by group undertakings 93,947 48,224
Other debtors 103,296 91,157
307,491 339,857

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 29,500 29,500
Hire purchase contracts - 1,402
Trade creditors 92,012 140,430
Taxation and social security 83,177 73,350
Other creditors 4,426 13,471
209,115 258,153

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 299,389 325,192

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 206,461 223,025

8. RESERVES
Revaluation
reserve
£   
At 1 January 2023
and 31 December 2023 938,875