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Registration number: 11307280

Friday Club Developments Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Friday Club Developments Ltd

(Registration number: 11307280)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

420

Investments

5

250

250

 

250

670

Current assets

 

Stocks

6

-

15,239

Debtors

7

598,225

697,606

Cash at bank and in hand

 

3,659

1,284

 

601,884

714,129

Creditors: Amounts falling due within one year

8

(449,582)

(399,593)

Net current assets

 

152,302

314,536

Total assets less current liabilities

 

152,552

315,206

Creditors: Amounts falling due after more than one year

8

(392,980)

(537,176)

Provisions for liabilities

(367)

(367)

Net liabilities

 

(240,795)

(222,337)

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

(240,895)

(222,437)

Shareholders' deficit

 

(240,795)

(222,337)

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 and 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 May 2025
 

 

Friday Club Developments Ltd

(Registration number: 11307280)
Balance Sheet as at 30 April 2024

.........................................
Mr Sean Elliott
Director

 

Friday Club Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Egerton House
Towers Business Park
Wilmslow Road
Manchester
M20 2DX
England

These financial statements were authorised for issue by the director on 28 May 2025.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Friday Club Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% to 33% straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

 

Friday Club Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. 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

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

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 the director) during the year, was 1 (2023 - 1).

 

Friday Club Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 May 2023

7,264

7,264

At 30 April 2024

7,264

7,264

Depreciation

At 1 May 2023

6,844

6,844

Charge for the year

420

420

At 30 April 2024

7,264

7,264

Carrying amount

At 30 April 2024

-

-

At 30 April 2023

420

420

5

Investments

2024
£

2023
£

Investments in subsidiaries

250

250

Subsidiaries

£

Cost or valuation

At 1 May 2023

250

Provision

Carrying amount

At 30 April 2024

250

At 30 April 2023

250

6

Stocks

2024
£

2023
£

Work in progress

-

15,239

 

Friday Club Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

11

121,600

111,200

Other debtors

 

476,625

586,406

   

598,225

697,606

 

Friday Club Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

104,812

4,693

Trade creditors

 

8,337

7,426

Amounts owed to group undertakings and undertakings in which the company has a participating interest

11

10,690

28,800

Taxation and social security

 

101,723

119,833

Accruals and deferred income

 

13,797

14,906

Other creditors

 

210,223

223,935

 

449,582

399,593

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

392,980

537,176

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A share of £1 each

50

50

50

50

Ordinary B share of £1 each

50

50

50

50

100

100

100

100

10

Loans and borrowings

Non-current loans and borrowings

 

Friday Club Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

2024
£

2023
£

Bank borrowings

26,410

31,221

Other borrowings

366,570

505,955

392,980

537,176

Current loans and borrowings

2024
£

2023
£

Bank borrowings

4,812

4,693

Other borrowings

100,000

-

104,812

4,693

11

Related party transactions

At the balance sheet date the company was owed £121,600 (2023: £111,200) by FCD One Limited a wholly owned subsidary of Friday Club Developments Ltd. At the balance sheet date the company owed £10,690 (2023: £28,800) to FCD Three Limited a wholly owned subsidary of Friday Club Developments Ltd. These loans are interest free and repayable on demand.

At the balance sheet date the company was owed the following amounts by companies under the control of the director:
FCD Two Limited £364,868 (2023: £376,220)
FC Construction Group Ltd £18,413 (2023: £116,363)
These loans are interest free and repayable on demand.

At the balance sheet date the company owed £5,000 (2023: £nil) to APL Architecture Ltd, a company under the control of the director. The loan is interest free and repayable on demand.

Transactions with the director

2024

At 1 May 2023
£

Advances to director
£

Repayments by director
£

At 30 April 2024
£

Mr Sean Elliott

Directors loan account

64,758

1,100

(500)

65,358

 

Friday Club Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

2023

At 1 May 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

Mr Sean Elliott

Directors loan account

66,507

306

(2,055)

64,758