IRIS Accounts Production v24.3.0.553 12003620 director 1.6.23 31.5.24 31.5.24 0 0 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh120036202023-05-31120036202024-05-31120036202023-06-012024-05-31120036202022-05-31120036202022-06-012023-05-31120036202023-05-3112003620ns15:EnglandWales2023-06-012024-05-3112003620ns14:PoundSterling2023-06-012024-05-3112003620ns10:Director12023-06-012024-05-3112003620ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3112003620ns10:SmallEntities2023-06-012024-05-3112003620ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3112003620ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3112003620ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3112003620ns10:FullAccounts2023-06-012024-05-3112003620ns10:OrdinaryShareClass12023-06-012024-05-3112003620ns10:RegisteredOffice2023-06-012024-05-3112003620ns5:CurrentFinancialInstruments2024-05-3112003620ns5:CurrentFinancialInstruments2023-05-3112003620ns5:Non-currentFinancialInstruments2024-05-3112003620ns5:Non-currentFinancialInstruments2023-05-3112003620ns5:ShareCapital2024-05-3112003620ns5:ShareCapital2023-05-3112003620ns5:RetainedEarningsAccumulatedLosses2024-05-3112003620ns5:RetainedEarningsAccumulatedLosses2023-05-3112003620ns5:PlantMachinery2023-06-012024-05-3112003620ns5:LandBuildings2023-05-3112003620ns5:PlantMachinery2023-05-3112003620ns5:LandBuildings2023-06-012024-05-3112003620ns5:LandBuildings2024-05-3112003620ns5:PlantMachinery2024-05-3112003620ns5:LandBuildings2023-05-3112003620ns5:PlantMachinery2023-05-3112003620ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-3112003620ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-3112003620ns10:OrdinaryShareClass12024-05-31
REGISTERED NUMBER: 12003620 (England and Wales)


Financial Statements for the Year Ended 31 May 2024

for

Friends Investments Ltd

Friends Investments Ltd (Registered number: 12003620)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Friends Investments Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTOR: Mr Ritesh Rai





REGISTERED OFFICE: 336 Locking Road
Weston Super Mare
BS22 8PD





REGISTERED NUMBER: 12003620 (England and Wales)





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

Friends Investments Ltd (Registered number: 12003620)

Statement of Financial Position
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 974,922 231,014

CURRENT ASSETS
Debtors 5 87,038 13,000
Cash at bank and in hand 14,620 2,439
101,658 15,439
CREDITORS
Amounts falling due within one year 6 261,377 87,976
NET CURRENT LIABILITIES (159,719 ) (72,537 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

815,203

158,477

CREDITORS
Amounts falling due after more than one
year

7

809,780

154,658
NET ASSETS 5,423 3,819

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 5,323 3,719
SHAREHOLDERS' FUNDS 5,423 3,819

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

Friends Investments Ltd (Registered number: 12003620)

Statement of Financial Position - continued
31 May 2024


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 15 October 2024 and were signed by:





Mr Ritesh Rai - Director


Friends Investments Ltd (Registered number: 12003620)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Friends Investments Ltd 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
Revenue 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.
Plant and machinery etc - 15% on reducing balance

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 231,014 - 231,014
Additions 727,628 16,697 744,325
At 31 May 2024 958,642 16,697 975,339
DEPRECIATION
Charge for year - 417 417
At 31 May 2024 - 417 417
NET BOOK VALUE
At 31 May 2024 958,642 16,280 974,922
At 31 May 2023 231,014 - 231,014

Friends Investments Ltd (Registered number: 12003620)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 87,038 13,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 6,491 6,493
Taxation and social security 483 483
Other creditors 254,403 81,000
261,377 87,976

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans 455,837 103,658
Other creditors 353,943 51,000
809,780 154,658

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
100 Share capital 1 £1 100 100