BrightAccountsProduction v1.0.0 v1.0.0 2025-04-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the management of residential flats. 24 June 2026 0 0 02325413 2026-03-31 02325413 2025-03-31 02325413 2024-03-31 02325413 2025-04-01 2026-03-31 02325413 2024-04-01 2025-03-31 02325413 uk-bus:PrivateLimitedCompanyLtd 2025-04-01 2026-03-31 02325413 uk-curr:PoundSterling 2025-04-01 2026-03-31 02325413 uk-bus:SmallCompaniesRegimeForAccounts 2025-04-01 2026-03-31 02325413 uk-bus:FullAccounts 2025-04-01 2026-03-31 02325413 uk-bus:Director1 2025-04-01 2026-03-31 02325413 uk-bus:Director2 2025-04-01 2026-03-31 02325413 uk-bus:CompanySecretary1 2025-04-01 2026-03-31 02325413 uk-bus:RegisteredOffice 2025-04-01 2026-03-31 02325413 uk-bus:Agent1 2025-04-01 2026-03-31 02325413 uk-core:ShareCapital 2026-03-31 02325413 uk-core:ShareCapital 2025-03-31 02325413 uk-core:OtherReservesSubtotal 2026-03-31 02325413 uk-core:OtherReservesSubtotal 2025-03-31 02325413 uk-core:RetainedEarningsAccumulatedLosses 2026-03-31 02325413 uk-core:RetainedEarningsAccumulatedLosses 2025-03-31 02325413 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2026-03-31 02325413 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2025-03-31 02325413 uk-bus:FRS102 2025-04-01 2026-03-31 02325413 uk-core:CurrentFinancialInstruments 2026-03-31 02325413 uk-core:CurrentFinancialInstruments 2025-03-31 02325413 uk-core:WithinOneYear 2026-03-31 02325413 uk-core:WithinOneYear 2025-03-31 02325413 2025-04-01 2026-03-31 02325413 uk-bus:AuditExempt-NoAccountantsReport 2025-04-01 2026-03-31 xbrli:pure iso4217:GBP xbrli:shares

Company Registration Number: 02325413

Friars Place (Management) Limited

Unaudited Financial Statements

for the financial year ended 31 March 2026

Friars Place (Management) Limited

DIRECTOR AND OTHER INFORMATION

Directors | A C Thorarinsson
| V C Ware (Resigned 26 November 2025)
Company Secretary | Rounce & Evans Property Management Ltd
Company Registration Number | 02325413
Registered Office and Business Address | Rounce & Evans Property Management Limited
| 16 Church Street
| King's Lynn
| Norfolk
| PE30 5EB
| England
Accountants | Thain Wildbur
| Chartered Accountants
| 36-38 King Street
| King's Lynn
| Norfolk
| PE30 1ES
| England

Friars Place (Management) Limited

Company Registration Number: 02325413

BALANCE SHEET

as at 31 March 2026

|  |  | 2026 |  | 2025
|  | Notes | £ |  | £
Fixed Assets

Tangible assets |  | 4 | 1,134 |  | 1,134
|  |  | ───────── |  | ─────────
Current Assets

Debtors |  | 5 | 17,366 |  | 16,461
Cash and cash equivalents |  |  | 14,601 |  | 16,556
|  |  | ───────── |  | ─────────
|  |  | 31,967 |  | 33,017
|  |  | ───────── |  | ─────────
Creditors: amounts falling due within one year |  | 6 | (506) |  | (478)
|  |  | ───────── |  | ─────────
Net Current Assets |  |  | 31,461 |  | 32,539
|  |  | ───────── |  | ─────────
Total Assets less Current Liabilities |  |  | 32,595 |  | 33,673
|  |  | ═════════ |  | ═════════
Capital and Reserves

Called up share capital |  |  | 14 |  | 14
Other reserves |  | 7 | 11,686 |  | 16,720
Retained earnings |  |  | 20,895 |  | 16,939
|  |  | ───────── |  | ─────────
Shareholders' Funds |  |  | 32,595 |  | 33,673
|  |  | ═════════ |  | ═════════
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).

The company has taken advantage of the exemption under section 444 not to file the Income Statement and Director's Report.

For the financial year ended 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.

Approved by the Director and authorised for issue on 24 June 2026

________________________________ |  |  |  |  |
A C Thorarinsson |  |  |  |  |
Director |  |  |  |  |

Friars Place (Management) Limited

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 March 2026

1. | General Information
| Friars Place (Management) Limited is a company limited by shares incorporated in the United Kingdom. Rounce & Evans Property Management Limited, 16 Church Street, King's Lynn, Norfolk, PE30 5EB, England is the registered office, which is also the principal place of business of the company. The nature of the company’s operations and its principal activities are set out in the Director's Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

2. | Summary of Significant Accounting Policies
| The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
| Statement of compliance
| The financial statements of the company for the year ended 31 March 2026 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
| Basis of preparation
| The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
| Turnover
| Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
| Tangible assets and depreciation
| Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
|  | Land and buildings freehold | - | Nil
| The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
| The directors consider that freehold properties are maintained in such a state of repair that their residual value is at least equal to their net book value. As a result the corresponding depreciation would not be material and therefore is not charged in the profit and loss account.
| Trade and other debtors
| Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
| Trade and other creditors
| Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
| Taxation
| Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

3. | Employees
| The average monthly number of employees, including director, during the financial year was 2 (2023 - 2)

4. | Tangible assets
|  | Land and
|  | buildings
|  | freehold
|  | £
| Cost
| At 1 April 2025 | 1,134
|  | ─────────
| At 31 March 2026 | 1,134
|  | ─────────
| Depreciation
| At 1 April 2025 | -
|  | ─────────
| At 31 March 2026 | -
|  | ─────────
| Net book value
| At 31 March 2026 | 1,134
|  | ═════════
| At 31 March 2025 | 1,134
|  | ═════════
| Friars Place (Management) Limited acquired the freehold of the property occupied by flats 27 Friar Street, 1 and 3-13 Friars Place during the Year ended 31st March 2009. Freehold property consists of the legal costs and land registry fees involved in transferring the freehold at Friars Place to the management company.

5. | Debtors | 2026 | 2025
|  | £ | £
| Trade debtors | 15,003 | 14,015
| Prepayments and accrued income | 2,363 | 2,446
|  | ───────── | ─────────
|  | 17,366 | 16,461
|  | ═════════ | ═════════

6. | Creditors | 2026 | 2025
| Amounts falling due within one year | £ | £
| Accruals | 506 | 478
|  | ═════════ | ═════════

7. | Reserves
| Exterior decorations reserve
| It is a condition of the leases that the exterior be decorated every seven years. A transfer is made annually to a seperate reserve to provide for the potential costs involved. During the year, expenditure of £5,644 relating to external decoration works was charged to the Income and Expenditure Account and funded from the reserve. A transfer between Retained Earnings and the Exterior Decorations Reserve has been made to reflect this. Movements on the Exterior Decorations Reserve during the year consist of debit £5,644 for expenditure incurred and credit £330 representing the annual transfer to cover potential costs.
| Roads and car park reserve
| It is a condition of the leases that the roads and car parks within the complex be maintained and repaired. A transfer is made annually to a seperate reserve to provide for the potential costs involved.