Friary Metal Products Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01067260 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

FRIARY METAL PRODUCTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

D L Smith

B J Smith

REGISTERED OFFICE:

106-110 Bishop Sreet

Highgate

Birmingham

West Midlands

B5 6JP

REGISTERED NUMBER:

01067260 (England and Wales)

ACCOUNTANTS:

CHEADLES

Chartered Accountants

Telegraph House

59 Wolverhampton Road

Stafford

Staffordshire

ST17 4AW

FIXED ASSETS

Tangible assets

4

35,770

37,518

CURRENT ASSETS

Stocks

35,143

29,156

Debtors

5

196,853

144,772

Cash at bank

135,580

114,577

367,576

288,505

CREDITORS

Amounts falling due within one year

6

223,733

168,230

NET CURRENT ASSETS

143,843

120,275

TOTAL ASSETS LESS CURRENT
LIABILITIES

179,613

157,793

CREDITORS

Amounts falling due after more than one year

7

6,162

16,523

NET ASSETS

173,451

141,270

CAPITAL AND RESERVES

Called up share capital

120

Retained earnings

173,331

141,150

SHAREHOLDERS' FUNDS

173,451

141,270

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

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 14 October 2025 and were signed on its behalf by:

B J Smith - Director

1.	STATUTORY INFORMATION

Friary Metal Products 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.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements, estimates and assumptions that affect the amounts reported for the assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year.

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.

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

The Directors review stock held at the balance sheet date to ensure that only those goods deemed fit for future sales are included.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefits

The company's holiday period is 1 April - 31 March, therefore no accrued holiday pay provision is required in these accounts.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2024 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

COST

At 1 April 2024

242,141

39,904

14,920

1,098

298,063

Additions

-

3,034

At 31 March 2025

242,141

39,904

14,920

4,132

301,097

DEPRECIATION

At 1 April 2024

213,660

31,998

14,449

438

260,545

Charge for year

2,994

791

118

879

4,782

At 31 March 2025

216,654

32,789

14,567

1,317

265,327

NET BOOK VALUE

At 31 March 2025

25,487

7,115

353

2,815

35,770

At 31 March 2024

28,481

7,906

471

660

37,518

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade debtors

161,386

118,978

Other debtors

35,467

25,794

196,853

144,772

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Bank loans and overdrafts

10,361

10,106

Credit card

2,127

345

Trade creditors

94,223

59,797

Taxation and social security

57,366

39,987

Other creditors

59,656

57,995

223,733

168,230

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

Bank loans

6,162

16,523

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

D L Smith

Balance outstanding at start of year

(491

)

(33

)

Amounts advanced

216

854

Amounts repaid

(500

)

(1,312

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(775

)

(491

)

B J Smith

Balance outstanding at start of year

19,423

43,731

Amounts advanced

62,978

48,276

Amounts repaid

(55,714

)

(72,584

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

26,687

19,423

During the year interest was charged on the loan to the Director Mr Benjamin Smith at 2.25% (2024:2.25%). The loan was repaid to the Company within nine months of the year end.

The following reproduces the text of the report prepared for the directors 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 Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Friary Metal Products Limited for the year ended 31 March 2025 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Friary Metal Products Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Friary Metal Products Limited and state those matters that we have agreed to state to the Board of Directors of Friary Metal Products Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Friary Metal Products Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Friary Metal Products Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Friary Metal Products Limited. You consider that Friary Metal Products Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Friary Metal Products Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

CHEADLES

Chartered Accountants

Telegraph House

59 Wolverhampton Road

Stafford

Staffordshire

ST17 4AW

14 October 2025