| Friday Properties Limited |
Registered number |
| Balance Sheet |
01511176 |
| as at 31 May 2026 |
|
|
| Notes |
|
|
2026 |
|
|
2025 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
4 |
|
|
989 |
|
|
201 |
| Investment properties |
5 |
|
|
950,000 |
|
|
1,285,000 |
|
|
|
|
950,989 |
|
|
1,285,201 |
|
| Current assets |
| Debtors |
6 |
|
11,244 |
|
|
21,779 |
| Cash at bank and in hand |
|
|
362,669 |
|
|
115,249 |
|
|
|
373,913 |
|
|
137,028 |
|
| Creditors: amounts falling due within one year |
7 |
|
(40,081) |
|
|
(119,748) |
|
| Net current assets |
|
|
|
333,832 |
|
|
17,280 |
|
| Total assets less current liabilities |
|
|
|
1,284,821 |
|
|
1,302,481 |
|
| Provisions for liabilities |
| Deferred tax |
8 |
|
|
(29,000) |
|
|
(33,000) |
|
| Net assets |
|
|
|
1,255,821 |
|
|
1,269,481 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
2 |
|
|
2 |
| Profit and loss account |
|
|
|
1,255,819 |
|
|
1,269,479 |
|
| Shareholders' funds |
|
|
|
1,255,821 |
|
|
1,269,481 |
|
|
|
|
|
|
|
|
|
|
| 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. |
|
|
|
|
| Mrs V M Eccles |
| Director |
| Approved by the board on 21 August 2026 |
|
| Friday Properties Limited |
| Notes to the Accounts |
| for the year ended 31 May 2026 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention, as modified by the revaluation of investment properties, 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 |
|
The turnover reflected in the accounts represents rent receivable. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less depreciation. Depreciation has been provided at the following rate to write off the assets over their estimated useful lives: |
|
|
Equipment - |
25% p.a. on the reducing balance basis |
|
|
Investment properties |
|
Investment properties are valued at the balance sheet date and included in the accounts at open market value. Changes in the value of investment properties are taken to the profit and loss account.
The company departs from the legal requirement in the Companies Acts to charge depreciation on investment properties in order to satisfy the overriding requirement for the accounts to give a true and fair view of the company's position and operating results. |
|
|
Deferred taxation |
|
Deferred tax is provided on an undiscounted basis to reflect the tax that would be payable by the company were its investment properties to be sold at their balance sheet values. |
|
|
|
| 2 |
Employees |
2026 |
|
2025 |
| Number |
Number |
|
|
Average number of employees and company officers |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
|
| 3 |
Taxation |
2026 |
|
2025 |
| £ |
£ |
|
|
UK corporation tax payable |
- |
|
10,355 |
|
Deferred tax credit |
(4,000) |
|
(62,000) |
|
|
|
|
|
|
|
(4,000) |
|
(51,645) |
|
|
|
|
|
|
|
|
|
|
|
| 4 |
Tangible fixed assets |
|
|
|
|
|
|
Equipment |
| £ |
|
|
|
Cost |
|
At 1 June 2025 |
2,307 |
|
Additions |
1,117 |
|
At 31 May 2026 |
3,424 |
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 June 2025 |
2,106 |
|
Charge for the year |
329 |
|
At 31 May 2026 |
2,435 |
|
|
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 May 2026 |
989 |
|
At 31 May 2025 |
201 |
|
|
|
|
|
| 5 |
Investment properties |
| £ |
|
|
|
Valuation |
|
At 1 June 2025 |
1,285,000 |
|
Additions |
5,605 |
|
Revaluation |
(5,605) |
|
Disposals |
(335,000) |
|
|
At 31 May 2026 |
950,000 |
|
|
|
|
The directors have reviewed the value of the company's investment properties as at 31 May 2026 by reference to professional valuations obtained and other available information. The historical cost of the properties at 31 May 2026 amounted to £122,784 (2025: £442,853). |
|
|
|
| 6 |
Debtors |
2026 |
|
2025 |
| £ |
£ |
|
|
Trade debtors |
- |
|
21,250 |
|
Other debtors |
11,244 |
|
529 |
|
|
|
|
|
|
11,244 |
|
21,779 |
|
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due within one year |
2026 |
|
2025 |
| £ |
£ |
|
|
Amounts owed to group undertakings |
|
32,903 |
|
76,617 |
|
Corporation tax |
- |
|
10,310 |
|
Other creditors |
7,178 |
|
32,821 |
|
|
|
|
|
|
40,081 |
|
119,748 |
|
|
|
|
|
|
|
|
|
|
|
| 8 |
Deferred tax |
2026 |
|
2025 |
| £ |
£ |
|
|
At 1 June 2025 |
33,000 |
|
95,000 |
|
Reduction in provision |
(4,000) |
|
(62,000) |
|
|
At 31 May 2026 |
29,000 |
|
33,000 |
|
|
|
|
|
|
|
|
|
|
The provision for deferred tax represents the tax that would be payable were the company's investment property to be sold at its balance sheet value. |
|
|
|
| 9 |
Controlling parties |
|
|
The company is a fully owned subsidiary of Barnston Holdings Limited. The directors, Mrs V M Eccles and Mr R C Eccles, are also directors of Barnston Holdings Limited and jointly own a controlling share in its issued share capital. |
|
|
|
| 10 |
Other information |
|
|
Friday Properties Limited is a private company limited by shares and incorporated in England. Its registered office is 74 High Street, Dunmow, Essex CM6 1AP. |