Friendly Trading Ltd 11669207 false 2022-12-01 2023-11-30 2023-11-30 The principal activity of the company is Licenced bar Digita Accounts Production Advanced 6.30.9574.0 true true 11669207 2022-12-01 2023-11-30 11669207 2023-11-30 11669207 core:CurrentFinancialInstruments 2023-11-30 11669207 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 11669207 core:Non-currentFinancialInstruments core:AfterOneYear 2023-11-30 11669207 core:FurnitureFittings 2023-11-30 11669207 core:PlantMachinery 2023-11-30 11669207 bus:SmallEntities 2022-12-01 2023-11-30 11669207 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 11669207 bus:FilletedAccounts 2022-12-01 2023-11-30 11669207 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 11669207 bus:RegisteredOffice 2022-12-01 2023-11-30 11669207 bus:Director1 2022-12-01 2023-11-30 11669207 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 11669207 core:FurnitureFittings 2022-12-01 2023-11-30 11669207 core:PlantMachinery 2022-12-01 2023-11-30 11669207 countries:EnglandWales 2022-12-01 2023-11-30 11669207 2022-11-30 11669207 core:FurnitureFittings 2022-11-30 11669207 core:PlantMachinery 2022-11-30 11669207 2021-12-01 2022-11-30 11669207 2022-11-30 11669207 core:CurrentFinancialInstruments 2022-11-30 11669207 core:CurrentFinancialInstruments core:WithinOneYear 2022-11-30 11669207 core:Non-currentFinancialInstruments core:AfterOneYear 2022-11-30 11669207 core:FurnitureFittings 2022-11-30 11669207 core:PlantMachinery 2022-11-30 iso4217:GBP xbrli:pure

Registration number: 11669207

Friendly Trading Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Friendly Trading Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Friendly Trading Ltd

Company Information

Director

Mr Maurice Christian Dutton

Registered office

The Old Butchers
57 North Street
Bristol
BS3 1HJ

Accountants

Stone & Co Chartered Accountants
2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA

 

Friendly Trading Ltd

(Registration number: 11669207)
Balance Sheet as at 30 November 2023

Note

2023
£

(As restated)

2022
£

         

Fixed assets

   

Tangible assets

4

 

1,619

1,186

Current assets

   

Stocks

5

1,520

 

1,520

Debtors

6

2,878

 

1,296

Cash at bank and in hand

 

11,491

 

25,475

 

15,889

 

28,291

Creditors: Amounts falling due within one year

7

(12,014)

 

(13,500)

Net current assets

   

3,875

14,791

Total assets less current liabilities

   

5,494

15,977

Creditors: Amounts falling due after more than one year

7

 

(7,420)

(11,620)

Provisions for liabilities

 

(307)

(225)

Net (liabilities)/assets

   

(2,233)

4,132

Capital and reserves

   

Called up share capital

2

 

2

Retained earnings

(2,235)

 

4,130

Shareholders' (deficit)/funds

   

(2,233)

4,132

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Friendly Trading Ltd

(Registration number: 11669207)
Balance Sheet as at 30 November 2023

Approved and authorised by the director on 28 August 2024
 

.........................................

Mr Maurice Christian Dutton
Director

 

Friendly Trading Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Old Butchers
57 North Street
Bristol
BS3 1HJ

These financial statements were authorised for issue by the director on 28 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Friendly Trading Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

20% Straight Line

Fixtures & Fittings

20% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Friendly Trading Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2022 - 6).

 

Friendly Trading Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 December 2022

1,106

886

1,992

Additions

-

838

838

At 30 November 2023

1,106

1,724

2,830

Depreciation

At 1 December 2022

588

218

806

Charge for the year

104

301

405

At 30 November 2023

692

519

1,211

Carrying amount

At 30 November 2023

414

1,205

1,619

At 30 November 2022

518

668

1,186

5

Stocks

2023
£

2022
£

Other inventories

1,520

1,520

6

Debtors

Current

2023
£

(As restated)

2022
£

Other debtors

2,878

1,296

 

2,878

1,296

7

Creditors

Creditors: amounts falling due within one year

 

Friendly Trading Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Note

2023
£

(As restated)

2022
£

Due within one year

 

Loans and borrowings

4,200

4,200

Taxation and social security

 

1,359

2,488

Accruals and deferred income

 

1,080

1,080

Other creditors

 

5,375

5,732

 

12,014

13,500

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7,420

11,620