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REGISTERED NUMBER: 12697879 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

FRIENDLY VENTURES LIMITED

FRIENDLY VENTURES LIMITED (REGISTERED NUMBER: 12697879)

Contents of the Financial Statements

FOR THE YEAR ENDED 31 MARCH 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

FRIENDLY VENTURES LIMITED

Company Information

FOR THE YEAR ENDED 31 MARCH 2025

| DIRECTOR: | J F L Frost

| REGISTERED OFFICE: | 29 Gildredge Road

| Eastbourne

| East Sussex

| BN21 4RU

| BUSINESS ADDRESS: | Unit 2, Merrydown Business Park

| Discovery Way

| Horam

| East Sussex

| TN21 0GE

| REGISTERED NUMBER: | 12697879 (England and Wales)

| ACCOUNTANTS: | Advanta

| Chartered Accountants

| 29 Gildredge Road

| Eastbourne

| East Sussex

| BN21 4RU

FRIENDLY VENTURES LIMITED (REGISTERED NUMBER: 12697879)

Balance Sheet

31 MARCH 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | - |  | 674 |  |

Tangible assets | 5 | 3,457 |  | 2,886 |  |

3,457 |  | 3,560 |  |

CURRENT ASSETS

Stocks | 6 | 129,825 |  | 131,057 |  |

Debtors | 7 | 185,988 |  | 101,429 |  |

Cash at bank | 55,966 |  | 36,081 |  |

371,779 |  | 268,567 |  |

CREDITORS

Amounts falling due within one year | 8 | 374,512 |  | 270,470 |  |

NET CURRENT LIABILITIES | (2,733 | ) | (1,903 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 724 |  | 1,657 |  |

PROVISIONS FOR LIABILITIES | 10 | 559 |  | 243 |  |

NET ASSETS | 165 |  | 1,414 |  |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Retained earnings | 65 |  | 1,314 |  |

SHAREHOLDERS' FUNDS | 165 |  | 1,414 |  |

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 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.

FRIENDLY VENTURES LIMITED (REGISTERED NUMBER: 12697879)

Balance Sheet - continued

31 MARCH 2025

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 26 November 2025 and were signed by:

J F L Frost - Director

FRIENDLY VENTURES LIMITED (REGISTERED NUMBER: 12697879)

Notes to the Financial Statements

FOR THE YEAR ENDED 31 MARCH 2025

1. | STATUTORY INFORMATION

| Friendly Ventures 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.

| These financial statements have been prepared on the basis that the company will continue to be a going concern. If this assumption is not considered valid, then adjustments would need to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

| The validity of the going concern basis depends upon the continued support of the company director and bankers.

| Turnover

| Turnover represents amounts receivable for the import, wholesale and retail of a wide range of fast moving consumer goods net of VAT.

| Revenue from the sale of goods is recognised when the significant risks and rewards and ownership of the goods have been passed to the buyer (usually on dispatch of goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transactions will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Website is being amortised evenly over its estimated useful life of five years.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Improvements to property | - | Over the term of the lease

| Furniture,fittings & equipment | - | 25% on reducing balance

| Computer equipment | - | Straight line over 3 years

| Stocks

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

FRIENDLY VENTURES LIMITED (REGISTERED NUMBER: 12697879)

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 MARCH 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| 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 1 (2024 - 1 ) .

FRIENDLY VENTURES LIMITED (REGISTERED NUMBER: 12697879)

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 MARCH 2025

4. | INTANGIBLE FIXED ASSETS

| Website

£ |

| COST

| At 1 April 2024

| and 31 March 2025 | 3,370 |  |

| AMORTISATION

| At 1 April 2024 | 2,696 |  |

| Amortisation for year | 674 |  |

| At 31 March 2025 | 3,370 |  |

| NET BOOK VALUE

| At 31 March 2025 | - |  |

| At 31 March 2024 | 674 |  |

5. | TANGIBLE FIXED ASSETS

| Improvements |

| to |  | Furniture,fittings |  | Computer |

| property |  | & equipment |  | equipment |  | Totals

£ | £ | £ | £ |

| COST

| At 1 April 2024 | 5,461 |  | 2,671 |  | 1,003 |  | 9,135 |  |

| Additions | - |  | 2,139 |  | 568 |  | 2,707 |  |

| At 31 March 2025 | 5,461 |  | 4,810 |  | 1,571 |  | 11,842 |  |

| DEPRECIATION

| At 1 April 2024 | 3,853 |  | 1,393 |  | 1,003 |  | 6,249 |  |

| Charge for year | 1,092 |  | 855 |  | 189 |  | 2,136 |  |

| At 31 March 2025 | 4,945 |  | 2,248 |  | 1,192 |  | 8,385 |  |

| NET BOOK VALUE

| At 31 March 2025 | 516 |  | 2,562 |  | 379 |  | 3,457 |  |

| At 31 March 2024 | 1,608 |  | 1,278 |  | - |  | 2,886 |  |

6. | STOCKS

2025 | 2024 |

£ | £ |

| Stocks | 129,825 |  | 131,057 |  |

FRIENDLY VENTURES LIMITED (REGISTERED NUMBER: 12697879)

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 MARCH 2025

7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 130,221 |  | 77,426 |  |

| Other debtors | 2,385 |  | 2,597 |  |

| Directors' current accounts | 31,563 |  | 15,220 |  |

| Tax | 10,653 |  | 5,136 |  |

| Prepayments | 11,166 |  | 1,050 |  |

185,988 |  | 101,429 |  |

| Debtors include a loan to the director of £31,563 (2024: £15,220). The loan is unsecured, and repayable on demand. Interest is charged on any outstanding balance at the HMRC official rate.

8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Other loans | 77,051 |  | 90,188 |  |

| Trade creditors | 249,509 |  | 152,768 |  |

| Tax | 16,257 |  | 5,590 |  |

| PAYE | 289 |  | - |  |

| VAT | 30,131 |  | 20,349 |  |

| Accrued expenses | 1,275 |  | 1,575 |  |

374,512 |  | 270,470 |  |

9. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2025 | 2024 |

£ | £ |

| Within one year | 5,054 |  | 9,545 |  |

| Between one and five years | - |  | 3,180 |  |

5,054 |  | 12,725 |  |

10. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax | 559 |  | 243 |  |

| Deferred |

| tax |

£ |

| Balance at 1 April 2024 | 243 |  |

| Provided during year | 316 |  |

| Balance at 31 March 2025 | 559 |  |

FRIENDLY VENTURES LIMITED (REGISTERED NUMBER: 12697879)

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 MARCH 2025

11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2025 | 2024 |

£ | £ |

| J F L Frost

| Balance outstanding at start of year | 15,220 |  | (38,707 | ) |

| Amounts advanced | 16,343 |  | 53,927 |  |

| Amounts repaid | - |  | - |  |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | 31,563 |  | 15,220 |  |

| The loan is unsecured and repayable on demand. Interest of £666 (2024: £52) has been charged on this balance at the HMRC official rate. The loan was repaid on 31 December 2024.