REGISTERED NUMBER: 12697879 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

FRIENDLY VENTURES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

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.

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

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.

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 ) .

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

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

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.