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REGISTERED NUMBER: SC333556 (Scotland)










Unaudited Financial Statements

for the Year Ended

30 November 2023

for

JOHN F FRIEL LIMITED

JOHN F FRIEL LIMITED (REGISTERED NUMBER: SC333556)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JOHN F FRIEL LIMITED

Company Information
for the Year Ended 30 November 2023







DIRECTOR: J Friel





REGISTERED OFFICE: 378 Brandon Street
Motherwell
ML1 1XA





REGISTERED NUMBER: SC333556 (Scotland)





ACCOUNTANTS: WDM Associates
Oakfield House
378 Brandon Street
Motherwell
ML1 1XA

JOHN F FRIEL LIMITED (REGISTERED NUMBER: SC333556)

Balance Sheet
30 November 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 4,132 4,869

CURRENT ASSETS
Stocks 5 6,680 3,123
Debtors 6 6,436 20,480
Cash at bank 607 16,054
13,723 39,657
CREDITORS
Amounts falling due within one year 7 (11,726 ) (18,346 )
NET CURRENT ASSETS 1,997 21,311
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,129

26,180

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 9 6,127 26,178
SHAREHOLDERS' FUNDS 6,129 26,180

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

JOHN F FRIEL LIMITED (REGISTERED NUMBER: SC333556)

Balance Sheet - continued
30 November 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 28 August 2024 and were signed by:





J Friel - Director


JOHN F FRIEL LIMITED (REGISTERED NUMBER: SC333556)

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

1. STATUTORY INFORMATION

John F Friel Limited is a private company, limited by shares , registered in Scotland. 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 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Computer equipment - 20% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Basic financial instruments
Basic financial instruments, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

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.

JOHN F FRIEL LIMITED (REGISTERED NUMBER: SC333556)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2022 2,221 21,477 5,397 29,095
Additions - - 1,031 1,031
At 30 November 2023 2,221 21,477 6,428 30,126
DEPRECIATION
At 1 December 2022 1,465 19,340 3,421 24,226
Charge for year 151 534 1,083 1,768
At 30 November 2023 1,616 19,874 4,504 25,994
NET BOOK VALUE
At 30 November 2023 605 1,603 1,924 4,132
At 30 November 2022 756 2,137 1,976 4,869

JOHN F FRIEL LIMITED (REGISTERED NUMBER: SC333556)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST
At 1 December 2022 21,477
Transfer to ownership (21,477 )
At 30 November 2023 -
DEPRECIATION
At 1 December 2022 18,074
Transfer to ownership (18,074 )
At 30 November 2023 -
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 3,403

5. STOCKS
2023 2022
£    £   
Work-in-progress 6,680 3,123

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 1,648
Other debtors 6,436 14,042
VAT - 4,790
6,436 20,480

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors (3 ) (1 )
Tax 1,775 16,754
VAT 113 -
Other creditors 7,000 -
Directors' current accounts 1,315 59
Accrued expenses 1,526 1,534
11,726 18,346

JOHN F FRIEL LIMITED (REGISTERED NUMBER: SC333556)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
2 Share capital 1 £1 2 2

9. RESERVES
Retained
earnings
£   

At 1 December 2022 26,178
Profit for the year 7,949
Dividends (28,000 )
At 30 November 2023 6,127

10. ULTIMATE CONTROLLING PARTY

The controlling party is J Friel.