Friary Lane Garage Development Company Limited 04501880 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is to hold land and buildings with a view to redevelopment. In the short term, licences are being granted for car parking, garaging and storage. Digita Accounts Production Advanced 6.30.9574.0 true 04501880 2023-09-01 2024-08-31 04501880 2024-08-31 04501880 core:CurrentFinancialInstruments 2024-08-31 04501880 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 04501880 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 04501880 bus:SmallEntities 2023-09-01 2024-08-31 04501880 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 04501880 bus:FilletedAccounts 2023-09-01 2024-08-31 04501880 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 04501880 bus:RegisteredOffice 2023-09-01 2024-08-31 04501880 bus:CompanySecretary1 2023-09-01 2024-08-31 04501880 bus:Director1 2023-09-01 2024-08-31 04501880 bus:Director2 2023-09-01 2024-08-31 04501880 bus:Director3 2023-09-01 2024-08-31 04501880 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 04501880 bus:Agent1 2023-09-01 2024-08-31 04501880 countries:EnglandWales 2023-09-01 2024-08-31 04501880 2022-09-01 2023-08-31 04501880 2023-08-31 04501880 core:CurrentFinancialInstruments 2023-08-31 04501880 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 04501880 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 iso4217:GBP xbrli:pure

Registration number: 04501880

Friary Lane Garage Development Company Limited

Annual Report and Unaudited Financial Statements Year Ended 31 August 2024

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Chartered Accountants

 

Friary Lane Garage Development Company Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 6

 

Friary Lane Garage Development Company Limited

Company Information

Directors

M W Kennett

H R McGhee

R J A Edwards

Company secretary

Mrs K Hobbs

Registered office

Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

Accountants

Edwards and Keeping Limited
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Friary Lane Garage Development Company Limitedfor the Year Ended 31 August 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Friary Lane Garage Development Company Limited for the year ended 31 August 2024 as set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Friary Lane Garage Development Company Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Friary Lane Garage Development Company Limited and state those matters that we have agreed to state to the Board of Directors of Friary Lane Garage Development Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Friary Lane Garage Development Company Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Friary Lane Garage Development Company Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Friary Lane Garage Development Company Limited. You consider that Friary Lane Garage Development Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Friary Lane Garage Development Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.






Edwards and Keeping Limited
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

21 March 2025

 

Friary Lane Garage Development Company Limited

(Registration number: 04501880)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Current assets

 

Stocks

4

328,344

328,344

Debtors

5

914

510

Cash at bank and in hand

 

13,343

11,505

 

342,601

340,359

Creditors: Amounts falling due within one year

6

(5,587)

(9,763)

Total assets less current liabilities

 

337,014

330,596

Creditors: Amounts falling due after more than one year

6

(35,580)

(40,080)

Net assets

 

301,434

290,516

Capital and reserves

 

Called up share capital

3

3

Retained earnings

301,431

290,513

Shareholders' funds

 

301,434

290,516

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

Directors' 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 directors acknowledge their 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.

Approved and authorised by the Board on 20 March 2025 and signed on its behalf by:
 



R J A Edwards
Director

 

Friary Lane Garage Development Company Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 August 2024

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:
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA
England

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.

Tax

The tax expense for the period comprises current 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.

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.

 

Friary Lane Garage Development Company Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 August 2024

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.

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.

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

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

4

Stocks

2024
£

2023
£

Other inventories

328,344

328,344

5

Debtors

Current

2024
£

2023
£

Trade debtors

354

-

Prepayments

560

510

 

914

510

 

Friary Lane Garage Development Company Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 August 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

-

3,360

Taxation and social security

2,601

3,647

Accruals and deferred income

2,927

2,756

Other creditors

59

-

5,587

9,763

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Loans and borrowings

35,580

40,080