REGISTERED NUMBER: 08374547 (England and Wales)

FRI PROJECTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Report of the Accountants

2

Balance Sheet

3

Notes to the Financial Statements

4

to

6

DIRECTOR:

M W Jeffries

SECRETARY:

REGISTERED OFFICE:

Nuvo House

Austin Way

Hampstead

Birmingham

B42 1DU

REGISTERED NUMBER:

08374547 (England and Wales)

ACCOUNTANTS:

Four Oaks Taxation & Accounting Services Limited

Suite D, Astor House

282 Lichfield Road

Four Oaks

Sutton Coldfield

West Midlands

B74 2UG

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2024 set out on pages five to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Four Oaks Taxation & Accounting Services Limited

Suite D, Astor House

282 Lichfield Road

Four Oaks

Sutton Coldfield

West Midlands

B74 2UG

29 September 2025

FIXED ASSETS

Tangible assets

4

1,699,981

1,703,866

CURRENT ASSETS

Debtors

5

403,232

307,491

Cash at bank and in hand

152,877

116,714

556,109

424,205

CREDITORS

Amounts falling due within one year

6

194,250

209,115

NET CURRENT ASSETS

361,859

215,090

TOTAL ASSETS LESS CURRENT LIABILITIES

2,061,840

1,918,956

CREDITORS

Amounts falling due after more than one year

7

(276,140

)

(299,389

)

PROVISIONS FOR LIABILITIES

(285,802

)

(265,210

)

NET ASSETS

1,499,898

1,354,357

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

8

938,875

938,875

Retained earnings

560,923

415,382

1,499,898

1,354,357

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 29 September 2025 and were signed by:

M W Jeffries - Director

1.	STATUTORY INFORMATION

Fri Projects 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 as modified by the revaluation of certain assets.

Turnover

Turnover 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

-

in accordance with the property

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 9 (2023 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 January 2024

1,495,648

459,010

1,954,658

Additions

-

33,250

33,250

At 31 December 2024

1,495,648

492,260

1,987,908

DEPRECIATION

At 1 January 2024

-

250,792

250,792

Charge for year

-

37,135

37,135

At 31 December 2024

-

287,927

287,927

NET BOOK VALUE

At 31 December 2024

1,495,648

204,333

1,699,981

At 31 December 2023

1,495,648

208,218

1,703,866

Included in cost or valuation of land and buildings is freehold land of £ 50,000 (2023 - £ 50,000 ) which is not depreciated.

Cost or valuation at 31 December 2024 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2019

443,227

-

443,227

Valuation in 2020

30,000

-

30,000

Valuation in 2021

465,648

-

465,648

Cost

556,773

492,260

1,049,033

1,495,648

492,260

1,987,908

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024

2023

£

£

Cost

556,773

556,773

Value of land in freehold land and buildings

50,000

50,000

Freehold land and buildings were valued on an open market basis on 31 December 2021 by the director .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

104,124

110,248

Amounts owed by group undertakings

170,227

93,947

Other debtors

128,881

103,296

403,232

307,491

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

29,500

29,500

Trade creditors

49,865

92,012

Taxation and social security

110,021

83,177

Other creditors

4,864

4,426

194,250

209,115

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

276,140

299,389

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

193,350

206,461

8.

RESERVES

Revaluation

reserve

£

At 1 January 2024

and 31 December 2024

938,875