Registration number: 04514724

INTERNATIONAL FRIENDS LIMITED

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 8

INTERNATIONAL FRIENDS LIMITED

Company Information

Director

M Robinson

Registered office

Unit C Ronald Rolph Court Wadloes Road Cambridge CB5 8PX

Accountants

K&S Professionals Limited Chartered Certified Accountants41 Rivington Crescent Mill Hill London NW7 2LF

INTERNATIONAL FRIENDS LIMITED

(Registration number: 04514724)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	448,270	336,693
Current assets
Stocks	5	19,098	7,151
Debtors	6	34,825	33,037
Cash at bank and in hand		19,380	74,524
		73,303	114,712
Creditors: Amounts falling due within one year	7	(212,193)	(209,276)
Net current liabilities		(138,890)	(94,564)
Total assets less current liabilities		309,380	242,129
Creditors: Amounts falling due after more than one year	7	(114,205)	(64,217)
Net assets		195,175	177,912
Capital and reserves
Called up share capital	8	100	100
Retained earnings		195,075	177,812
Shareholders' funds		195,175	177,912

For the financial year ending 31 December 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 29 September 2025
 

INTERNATIONAL FRIENDS LIMITED

(Registration number: 04514724)
Balance Sheet as at 31 December 2024

......................................... M Robinson Director

INTERNATIONAL FRIENDS LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
Unit C Ronald Rolph Court
Wadloes Road
Cambridge
CB5 8PX

These financial statements were authorised for issue by the director on 29 September 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.

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.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
 

INTERNATIONAL FRIENDS LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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
Office equipment	25% straight line
Motor vehicles	10% Straight line method

During the year ended 31.12.2024, the company changed its method of depreciating motor vehicles from the 15% reducing balance method to 10% straight-line method.

The management has determined that the straight-line method provides a more accurate reflection of how the company consumes the economic benefits of its motor vehicles over their useful lives.
This change is consistent with the company's vehicle replacement cycle.

 

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.

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.

INTERNATIONAL FRIENDS LIMITED

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

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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 4 (2023 - 4).

INTERNATIONAL FRIENDS LIMITED

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

4	Tangible assets

	Office equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	20,817	589,154	609,971
Additions	1,801	211,622	213,423
Disposals	-	(122,464)	(122,464)
At 31 December 2024	22,618	678,312	700,930
Depreciation
At 1 January 2024	15,753	257,522	273,275
Charge for the year	4,066	54,016	58,082
Eliminated on disposal	-	(78,697)	(78,697)
At 31 December 2024	19,819	232,841	252,660
Carrying amount
At 31 December 2024	2,799	445,471	448,270
At 31 December 2023	5,061	331,632	336,693

5

Stocks

	2024 £	2023 £
Finished goods and goods for resale	19,098	7,151

6

Debtors

Current	2024 £	2023 £
Trade debtors	577	11,692
Prepayments	-	600
Other debtors	34,248	20,745
	34,825	33,037

INTERNATIONAL FRIENDS LIMITED

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

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings		30,844	37,534
Trade creditors		(24,769)	(11,709)
Taxation and social security		2,216	4,926
Accruals and deferred income		18,554	21,533
Other creditors		185,348	156,992
		212,193	209,276

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings		93,360	43,372
Other non-current financial liabilities		20,845	20,845
		114,205	64,217

8	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100