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Company No: 06136621 (England and Wales)

CD FRIEND & SONS LTD

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

CD FRIEND & SONS LTD

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

CD FRIEND & SONS LTD

COMPANY INFORMATION

For the financial year ended 31 March 2024
CD FRIEND & SONS LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTORS David Jonathan Friend
Ian Douglas Friend
SECRETARY Fay Susan Mitchell
REGISTERED OFFICE The Broadway
Eastgate Street
Bur St Edmunds
Suffolk
IP33 1XX
United Kingdom
COMPANY NUMBER 06136621 (England and Wales)
CHARTERED ACCOUNTANTS Gascoynes
Gascoyne House
Moseleys Farm Business Centre
Fornham All Saints
Bury St Edmunds
Suffolk
IP28 6JY
CD FRIEND & SONS LTD

BALANCE SHEET

As at 31 March 2024
CD FRIEND & SONS LTD

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 11,463 7,109
11,463 7,109
Current assets
Stocks 13,650 13,000
Debtors 4 44,140 53,947
Cash at bank and in hand 221,835 209,303
279,625 276,250
Creditors: amounts falling due within one year 5 ( 172,729) ( 167,604)
Net current assets 106,896 108,646
Total assets less current liabilities 118,359 115,755
Creditors: amounts falling due after more than one year 6 ( 16,450) ( 25,850)
Net assets 101,909 89,905
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 101,809 89,805
Total shareholders' funds 101,909 89,905

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of CD Friend & Sons Ltd (registered number: 06136621) were approved and authorised for issue by the Board of Directors on 19 November 2024. They were signed on its behalf by:

David Jonathan Friend
Director
CD FRIEND & SONS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
CD FRIEND & SONS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

CD Friend & Sons Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Broadway, Eastgate Street, Bur St Edmunds, Suffolk, IP33 1XX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 4 years straight line
Vehicles 4 years straight line
Fixtures and fittings 25 % reducing balance
Computer equipment 6 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 12 15

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
At 01 April 2023 139,825 28,955 18,097 10,036 196,913
Additions 3,696 6,000 0 0 9,696
At 31 March 2024 143,521 34,955 18,097 10,036 206,609
Accumulated depreciation
At 01 April 2023 134,044 28,773 18,068 8,919 189,804
Charge for the financial year 4,833 307 7 195 5,342
At 31 March 2024 138,877 29,080 18,075 9,114 195,146
Net book value
At 31 March 2024 4,644 5,875 22 922 11,463
At 31 March 2023 5,781 182 29 1,117 7,109

4. Debtors

2024 2023
£ £
Trade debtors 38,142 41,349
Other debtors 5,998 12,598
44,140 53,947

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 9,400 9,400
Trade creditors 37,777 47,354
Taxation and social security 47,989 48,133
Other creditors 77,563 62,717
172,729 167,604

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 16,450 25,850

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100