General Information
Friar 149 Limited is a private company, limited by shares, registered in England and Wales, registration number 09326805, registration address Unit 2 Sherbrook Enterprise, 100 Sherbrook Road, Daybrook, Nottingham, NG5 6AB.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Revenue Recognition
Revenue is measured at 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.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Long Leasehold Property |
2% Straight Line |
| Commercial Vehicles |
25% Reducing Balance
|
| Motor Vehicles |
25% Reducing Balance
|
| Fixtures and Fittings |
15% Reducing Balance
|
| Improvements to property |
2% Straight Line |
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees
Average number of employees during the year was 3 (2023 : 3).
|
| 3. |
Financial Commitments, Guarantees and Contingencies
The company had commitments at the balance sheet date of £135,400 (2023 - £97,100).
|
| 4. |
Tangible fixed assets
| Cost or valuation |
Long Leasehold Property |
|
Commercial Vehicles |
|
Motor Vehicles |
|
Fixtures and Fittings |
|
Improvements to property |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
|
£ |
|
£ |
| At 01 January 2024 |
1,061,956 |
|
22,700 |
|
181,762 |
|
9,610 |
|
139,486 |
|
1,415,514 |
| Additions |
- |
|
- |
|
- |
|
3,150 |
|
- |
|
3,150 |
| Disposals |
- |
|
(22,700) |
|
- |
|
- |
|
- |
|
(22,700) |
| At 31 December 2024 |
1,061,956 |
|
- |
|
181,762 |
|
12,760 |
|
139,486 |
|
1,395,964 |
| Depreciation |
| At 01 January 2024 |
29,204 |
|
11,793 |
|
55,679 |
|
1,835 |
|
3,864 |
|
102,375 |
| Charge for year |
21,239 |
|
2,499 |
|
31,521 |
|
1,284 |
|
2,790 |
|
59,333 |
| On disposals |
- |
|
(14,292) |
|
- |
|
- |
|
- |
|
(14,292) |
| At 31 December 2024 |
50,443 |
|
- |
|
87,200 |
|
3,119 |
|
6,654 |
|
147,416 |
| Net book values |
| Closing balance as at 31 December 2024 |
1,011,513 |
|
- |
|
94,562 |
|
9,641 |
|
132,832 |
|
1,248,548 |
| Opening balance as at 01 January 2024 |
1,032,752 |
|
10,907 |
|
126,083 |
|
7,775 |
|
135,622 |
|
1,313,139 |
|
| 5. |
Investments
| Cost |
Investments in group undertakings |
|
Total |
| |
£ |
|
£ |
| At 01 January 2024 |
1,119,708 |
|
1,119,708 |
| Additions |
- |
|
- |
| Transfer to/from tangible fixed assets |
0 |
|
0 |
| Disposals |
- |
|
- |
| At 31 December 2024 |
1,119,708 |
|
1,119,708 |
|
| 6. |
Debtors: amounts falling due within one year
|
2024
£ |
|
2023
£ |
| Amount Owed by Group Undertakings |
40,000 |
|
17,818 |
| Prepayments & Accrued Income |
40,451 |
|
14,848 |
| Other Debtors |
798 |
|
691 |
|
81,249 |
|
33,357 |
|
| 7. |
Creditors: amount falling due within one year
|
2024
£ |
|
2023
£ |
| Trade Creditors |
6,918 |
|
7,260 |
| Amounts Owed to Group Undertakings |
2 |
|
2 |
| PAYE & Social Security |
7,780 |
|
5,017 |
| Accrued Expenses |
19,590 |
|
19,429 |
| Wages & Salaries Control Account |
0 |
|
3,860 |
| Directors' Current Accounts |
329 |
|
329 |
| VAT |
17,240 |
|
35,547 |
|
51,859 |
|
71,444 |
|
| 8. |
Provisions for liabilities
|
2024
£ |
|
2023
£ |
| Deferred Tax |
36,191 |
|
12,253 |
| Charged to Profit & Loss |
(10,140) |
|
23,938 |
|
26,051 |
|
36,191 |
|
| 9. |
Share Capital
Authorised
1,000 Ordinary shares of £1.00 each
Allotted, called up and fully paid
|
2024
£ |
|
2023
£ |
|
1,000
Ordinary shares of £1.00 each |
1,000 |
|
1,000 |
|
1,000 |
|
1,000 |
|
3
|