Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-302023-07-011false1No description of principal activitytruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14350111 2023-07-01 2024-06-30 14350111 2022-09-12 2023-06-30 14350111 2024-06-30 14350111 2023-06-30 14350111 c:Director1 2023-07-01 2024-06-30 14350111 d:FreeholdInvestmentProperty 2023-07-01 2024-06-30 14350111 d:FreeholdInvestmentProperty 2024-06-30 14350111 d:CurrentFinancialInstruments 2024-06-30 14350111 d:CurrentFinancialInstruments 2023-06-30 14350111 d:Non-currentFinancialInstruments 2024-06-30 14350111 d:Non-currentFinancialInstruments 2023-06-30 14350111 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 14350111 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 14350111 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 14350111 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 14350111 d:ShareCapital 2024-06-30 14350111 d:ShareCapital 2023-06-30 14350111 d:RetainedEarningsAccumulatedLosses 2024-06-30 14350111 d:RetainedEarningsAccumulatedLosses 2023-06-30 14350111 c:FRS102 2023-07-01 2024-06-30 14350111 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 14350111 c:FullAccounts 2023-07-01 2024-06-30 14350111 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 14350111 2 2023-07-01 2024-06-30 14350111 6 2023-07-01 2024-06-30 14350111 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 14350111










E FRIEND LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
E FRIEND LIMITED
REGISTERED NUMBER: 14350111

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
1,800,000
1,700,000

Investment property
 5 
443,465
-

Current assets
  

Debtors: amounts falling due after more than one year
 6 
2,137,690
2,875,074

Debtors: amounts falling due within one year
 6 
136,999
1

Cash at bank and in hand
  
6,788
-

  
2,281,477
2,875,075

Creditors: amounts falling due within one year
 7 
(5,020)
(335,565)

Net current liabilities
  
 
 
2,276,457
 
 
2,539,510

Total assets less current liabilities
  
4,519,922
4,239,510

Creditors: amounts falling due after more than one year
 8 
(4,339,508)
(4,239,508)

  

Net assets
  
180,414
2


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
180,412
-

  
180,414
2


Page 1

 
E FRIEND LIMITED
REGISTERED NUMBER: 14350111
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr E R Friend
Director

Date: 28 March 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
E FRIEND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

E Friend Limited (“the Company”) is a private company limited by shares, incorporated in England and Wales under the Companies Act.
The registered number and address of the registered office is given in the Company information.
The functional and presentational currency of the Company is pounds sterling (£) and rounded to the nearest whole pound.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.3

Investment property

Investment properties are carried at fair value determined annually by the director with reference to external valuations and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Profit and Loss Account.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 3

 
E FRIEND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 4

 
E FRIEND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Fixed asset investments





Investments in subsidiary companies
Trade investments
Total

£
£
£



Cost


At 1 July 2023
1,700,000
-
1,700,000


Additions
-
100,000
100,000



At 30 June 2024
1,700,000
100,000
1,800,000




Smarterpay Limited is a wholly owned subsidiary of E Friend Limited.
During the year, E Friend Limited purchased 7,950 Ordinary shares in Quantum Power Transformation Limited. 

Page 5

 
E FRIEND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Investment property


Freehold investment property

£



Valuation


Additions at cost
443,465



At 30 June 2024
443,465

The 2024 valuations were made by the director, on an open market value for existing use basis.







6.


Debtors

2024
2023
£
£

Due after more than one year

Amounts owed by group undertakings
2,137,690
2,875,074

2,137,690
2,875,074


2024
2023
£
£

Due within one year

Other debtors
136,998
-

Called up share capital not paid
1
1

136,999
1


Amounts owed by group undertakings are unsecured, are interest free and repayable on demand. 

Page 6

 
E FRIEND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
216
-

Other creditors
-
335,565

Accruals and deferred income
4,804
-

5,020
335,565



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Amounts owed to group undertakings
4,339,508
4,239,508

4,339,508
4,239,508


Amounts owed to group undertakings are unsecured, are interest free and repayable on demand. 


9.


Controlling party

The Company's ultimate parent undertaking is Pajef Limited, a company incorporated in England and Wales, which holds all of the issued shares in the Company. The registered office of Pajef Limited is 1 The Forum, Minerva Business Park, Lynch Wood, Peterborough PE2 6FT. 
The ultimate controlling party are the Trustees of Phillip A Friend and Janice E Friend Deceased Will Trusts.

 
Page 7