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REGISTERED NUMBER: 01519630 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Friday Island Limited

Friday Island Limited (Registered number: 01519630)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Friday Island Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: J A H Edmondson
A J Edmondson
S C C Edmondson





REGISTERED OFFICE: Poole Keynes
Cirencester
GL7 6ED





REGISTERED NUMBER: 01519630 (England and Wales)





ACCOUNTANTS: Silbury Accountants Limited
Chartered Accountants
Oak Apple House
North Street
Milborne Port
Sherborne
DT9 5EW

Friday Island Limited (Registered number: 01519630)

Statement of Financial Position
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Property, plant and equipment 4 3,982,130 4,084,772
Investment property 5 359,913 359,913
4,342,043 4,444,685

CURRENT ASSETS
Debtors 6 6,777 3,796
Cash at bank and in hand 230,885 183,033
237,662 186,829
CREDITORS
Amounts falling due within one year 7 2,540,701 2,606,212
NET CURRENT LIABILITIES (2,303,039 ) (2,419,383 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,039,004

2,025,302

CREDITORS
Amounts falling due after more than one
year

8

(516,184

)

(764,271

)

PROVISIONS FOR LIABILITIES (31,717 ) (34,291 )
NET ASSETS 1,491,103 1,226,740

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 1,491,003 1,226,640
SHAREHOLDERS' FUNDS 1,491,103 1,226,740

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Friday Island Limited (Registered number: 01519630)

Statement of Financial Position - continued
30 September 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 Board of Directors and authorised for issue on 15 April 2025 and were signed on its behalf by:





A J Edmondson - Director


Friday Island Limited (Registered number: 01519630)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Friday Island 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.

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.
Land and buildings - at varying rates on cost
Plant and machinery etc - 25% on reducing balance and 10% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 4 (2023 - 4 ) .

Friday Island Limited (Registered number: 01519630)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2023 4,421,959 509,908 4,931,867
Additions 47,636 36,641 84,277
Disposals - (500 ) (500 )
At 30 September 2024 4,469,595 546,049 5,015,644
DEPRECIATION
At 1 October 2023 466,587 380,508 847,095
Charge for year 147,746 39,145 186,891
Eliminated on disposal - (472 ) (472 )
At 30 September 2024 614,333 419,181 1,033,514
NET BOOK VALUE
At 30 September 2024 3,855,262 126,868 3,982,130
At 30 September 2023 3,955,372 129,400 4,084,772

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023
and 30 September 2024 359,913
NET BOOK VALUE
At 30 September 2024 359,913
At 30 September 2023 359,913

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Other debtors 6,777 3,796

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 74,000 121,200
Trade creditors 9,680 11,699
Taxation and social security 192,932 191,276
Other creditors 2,264,089 2,282,037
2,540,701 2,606,212

Friday Island Limited (Registered number: 01519630)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans 516,184 764,271

Amounts falling due in more than five years:

Repayable by instalments
Bank loans and overdrafts 516,184 764,271

9. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Bank loans 590,184 885,471

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
100 Ordinary £1 100 100

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £48,500 (2023 - £57,000) were paid to the directors .

12. POST BALANCE SHEET EVENTS

Dividends totalling £76,930 were voted 31 March 2025.