Philip Friede & Co Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 06835652

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		29,626		40,563
Investments	5		16,200		-

			45,826		40,563
CURRENT ASSETS
Stocks	6	450,000		377,153
Debtors	7	157,959		284,656
Cash at bank and in hand		26,794		1,626

		634,753		663,435
Creditors: Amounts Falling Due Within One Year	8	(525,965 )		(530,455 )

NET CURRENT ASSETS (LIABILITIES)			108,788		132,980

TOTAL ASSETS LESS CURRENT LIABILITIES			154,614		173,543

Creditors: Amounts Falling Due After More Than One Year	9		(65,000 )		(69,774 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(3,183 )		(5,483 )

NET ASSETS			86,431		98,286

CAPITAL AND RESERVES
Called up share capital	10		100		100
Capital redemption reserve			999		999
Profit and Loss Account			85,332		97,187

SHAREHOLDERS' FUNDS			86,431		98,286

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Philip Friede & Co Ltd

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Alexander Friede

Director

31 December 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Philip Friede & Co Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06835652 . The registered office is 5th Floor, 30-31 Furnival Street, London, EC4A 1JQ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	10 Years - Straight Line
Plant & Machinery	15% - Reducing Balance
Fixtures & Fittings	4 Years - Straight Line
Computer Equipment	3 Years - Straight Line

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Philip Friede & Co Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 14 (2024: 13)

4. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 April 2024	23,896	21,402	40,406	45,327	131,031
Additions	-	-	1,135	3,754	4,889

As at 31 March 2025	23,896	21,402	41,541	49,081	135,920

Depreciation
As at 1 April 2024	5,266	21,402	30,486	33,314	90,468
Provided during the period	1,737	-	7,222	6,867	15,826

As at 31 March 2025	7,003	21,402	37,708	40,181	106,294

Net Book Value
As at 31 March 2025	16,893	-	3,833	8,900	29,626

As at 1 April 2024	18,630	-	9,920	12,013	40,563

5. Investments

	Unlisted
	£
Cost or Valuation
As at 1 April 2024	-
Additions	100
Revaluations	16,100

As at 31 March 2025	16,200

Provision
As at 1 April 2024	-

As at 31 March 2025	-

Net Book Value
As at 31 March 2025	16,200

As at 1 April 2024	-

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Philip Friede & Co Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

6. Stocks

	2025	2024
	£	£
Work in progress	450,000	377,153

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	94,813	83,296
Prepayments and accrued income	29,396	60,088
Corporation tax recoverable assets	33,750	33,750
Director's loan account	-	107,522

	157,959	284,656

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	42,564	20,750
Bank loans and overdrafts	115,255	104,568
Corporation tax	111,764	92,473
Other taxes and social security	25,387	14,533
VAT	61,988	64,218
Other creditors	40,692	83,993
Accruals and deferred income	128,214	149,920
Director's loan account	101	-

	525,965	530,455

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	65,000	69,774

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

11. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 April 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2025
	£	£	£	£	£
Mr Alexander Friede	100,000	-	100,000	-	-

The above loan is unsecured, charged at 2% per annum and repayable on demand.

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