| Friend of Mine Ltd |
| Accountants' Report |
|
|
| Accountants' report to the directors of |
| Friend of Mine Ltd |
|
| You consider that the company is exempt from an audit for the year ended 31 March 2025. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year. |
| In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us. |
| We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. |
|
| Tindell, Grant & Co Ltd |
| Accountants |
|
| 6 Munro Road |
| Springkerse |
| Stirling |
| FK7 7UU |
|
| 18 December 2025 |
|
| Friend of Mine Ltd |
| Registered number: |
SC596150 |
| Balance Sheet |
| as at 31 March 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
33,624 |
|
|
38,534 |
|
| Current assets |
| Stocks |
|
|
3,500 |
|
|
3,000 |
| Debtors |
4 |
|
10,714 |
|
|
6,699 |
| Cash at bank and in hand |
|
|
83,296 |
|
|
84,162 |
|
|
|
97,510 |
|
|
93,861 |
|
| Creditors: amounts falling due within one year |
5 |
|
(118,266) |
|
|
(98,899) |
|
| Net current liabilities |
|
|
|
(20,756) |
|
|
(5,038) |
|
| Total assets less current liabilities |
|
|
|
12,868 |
|
|
33,496 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(1,665) |
|
|
(11,666) |
|
|
|
| Net assets |
|
|
|
11,203 |
|
|
21,830 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
2 |
|
|
2 |
| Profit and loss account |
|
|
|
11,201 |
|
|
21,828 |
|
| Shareholders' funds |
|
|
|
11,203 |
|
|
21,830 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| N Heron |
| Director |
| Approved by the board on 18 December 2025 |
|
| Friend of Mine Ltd |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover represents gross invoiced sales of services, less value added tax, which are recognised when the services are provided. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Fixtures and fittings |
25% reducing balance |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Leased assets |
|
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
28 |
|
27 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
Equipment |
|
Fixtures & fittings and equipment |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 April 2024 |
566 |
|
138,497 |
|
139,063 |
|
Additions |
- |
|
6,300 |
|
6,300 |
|
At 31 March 2025 |
566 |
|
144,797 |
|
145,363 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2024 |
248 |
|
100,281 |
|
100,529 |
|
Charge for the year |
80 |
|
11,130 |
|
11,210 |
|
At 31 March 2025 |
328 |
|
111,411 |
|
111,739 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2025 |
238 |
|
33,386 |
|
33,624 |
|
At 31 March 2024 |
318 |
|
38,216 |
|
38,534 |
|
|
| 4 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Other debtors |
|
|
|
|
2,634 |
|
6,699 |
|
Prepayments |
8,080 |
|
- |
|
|
|
|
|
|
10,714 |
|
6,699 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans and overdrafts |
10,000 |
|
10,000 |
|
Trade creditors |
- |
|
910 |
|
Directors current account |
- |
|
875 |
|
Taxation and social security costs |
70,618 |
|
62,412 |
|
Accruals |
36,529 |
|
2,010 |
|
Other creditors |
1,119 |
|
22,692 |
|
|
|
|
|
|
118,266 |
|
98,899 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans |
1,665 |
|
11,666 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Other information |
|
|
Friend of Mine Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is: |
|
45 Henderson Street |
|
Bridge of Allan |
|
Stirling |
|
FK9 4HG |