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REGISTERED NUMBER: 05117212 (England and Wales)












ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

FRIARS AIRFIELD SOLUTIONS LIMITED

FRIARS AIRFIELD SOLUTIONS LIMITED (REGISTERED NUMBER: 05117212)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


FRIARS AIRFIELD SOLUTIONS LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTOR: N E Austin





SECRETARY: Mrs H Austin





REGISTERED OFFICE: Unit J5 Harrison Road
Airfield Business Park
Market Harborough
Leicestershire
LE16 7UL





REGISTERED NUMBER: 05117212 (England and Wales)






FRIARS AIRFIELD SOLUTIONS LIMITED (REGISTERED NUMBER: 05117212)

ABRIDGED BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 205,616 102,850
205,616 102,850

CURRENT ASSETS
Stocks 3,560 3,112
Debtors 22,247 54,223
Cash at bank and in hand 378,025 110,395
403,832 167,730
CREDITORS
Amounts falling due within one year 142,779 78,572
NET CURRENT ASSETS 261,053 89,158
TOTAL ASSETS LESS CURRENT
LIABILITIES

466,669

192,008

CREDITORS
Amounts falling due after more than one
year

-

(25,000

)

PROVISIONS FOR LIABILITIES (49,798 ) (23,304 )
NET ASSETS 416,871 143,704

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 416,771 143,604
SHAREHOLDERS' FUNDS 416,871 143,704

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

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

FRIARS AIRFIELD SOLUTIONS LIMITED (REGISTERED NUMBER: 05117212)

ABRIDGED BALANCE SHEET - continued
31 March 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 22 July 2024 and were signed by:





N E Austin - Director


FRIARS AIRFIELD SOLUTIONS LIMITED (REGISTERED NUMBER: 05117212)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Friars Airfield Solutions 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.

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below.

Turnover
Turnover comprises the value of sales (net of value added tax) of goods and services provided in the normal course of business. Revenue is recognised in respect of service contracts when the company obtains the right to consideration.

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.

Website is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - 20% on cost
Plant and machinery - 15% on reducing balance
Fixtures and furniture - 15% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 1 (2023 - 1 ) .

FRIARS AIRFIELD SOLUTIONS LIMITED (REGISTERED NUMBER: 05117212)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 17,747
AMORTISATION
At 1 April 2023
and 31 March 2024 17,747
NET BOOK VALUE

At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 185,345
Additions 127,831
Disposals (2,906 )
At 31 March 2024 310,270
DEPRECIATION
At 1 April 2023 82,495
Charge for year 25,065
Eliminated on disposal (2,906 )
At 31 March 2024 104,654
NET BOOK VALUE
At 31 March 2024 205,616
At 31 March 2023 102,850

6. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 12,383 12,383
Between one and five years 24,766 37,149
37,149 49,532

7. CONTROLLING INTERESTS

The directors are considered to be the ultimate controlling parties by virtue of their ability to act in concert in respect of the financial and operating policies of the company.