Friendly London Limited - Limited company accounts 18.2

REGISTERED NUMBER: 06918906 (England and Wales)

Report of the Director and

Unaudited Financial Statements for the Year Ended 31st May 2019

for

FRIENDLY LONDON LIMITED

Page

Company Information

1

Report of the Director

2

Chartered Accountants' Report

3

Income Statement

4

Other Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Financial Statements

8

DIRECTOR:

F Orlando

REGISTERED OFFICE:

Flat 1

15 Fairhazel Gardens

London

NW6 3QJ

REGISTERED NUMBER:

06918906 (England and Wales)

ACCOUNTANTS:

Ash & Associates

Chartered Accountants

2 London Wall Buildings

London Wall

London

EC2M 5PP

The director presents his report with the financial statements of the company for the year ended 31st May 2019.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of property consultancy services.

DIRECTOR

F Orlando held office during the whole of the period from 1st June 2018 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006

relating to small companies.

ON BEHALF OF THE BOARD:

F Orlando - Director

3rd March 2020

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of Friendly London Limited for the year ended 31st May 2019 which comprise the

Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the

related notes from the company's accounting records and from information and explanations you have given

us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Friendly London Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Friendly London Limited and state those matters that we have agreed to state to the director of Friendly London Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Friendly London Limited and its director for our work or for this report.

It is your duty to ensure that Friendly London Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Friendly London Limited. You consider that Friendly London Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Friendly London Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ash & Associates

Chartered Accountants

2 London Wall Buildings

London Wall

London

EC2M 5PP

3rd March 2020

TURNOVER

2,917

2,713

Cost of sales

664

1,804

GROSS PROFIT

2,253

909

Administrative expenses

4,320

5,417

OPERATING LOSS and

LOSS BEFORE TAXATION

(2,067

)

(4,508

)

Tax on loss

-

(6

)

LOSS FOR THE FINANCIAL YEAR

(2,067

)

(4,502

)

LOSS FOR THE YEAR

(2,067

)

(4,502

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(2,067

)

(4,502

)

CURRENT ASSETS

Cash at bank

2,917

-

CREDITORS

Amounts falling due within one year

5

21,568

16,584

NET CURRENT LIABILITIES

(18,651

)

(16,584

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(18,651

)

(16,584

)

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

(18,751

)

(16,684

)

SHAREHOLDERS' FUNDS

(18,651

)

(16,584

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2019 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director on 3rd March 2020 and were signed by:

F Orlando - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1st June 2017

100

(12,182

)

(12,082

)

Changes in equity

Total comprehensive income

-

(4,502

)

(4,502

)

Balance at 31st May 2018

100

(16,684

)

(16,584

)

Changes in equity

Total comprehensive income

-

(2,067

)

(2,067

)

Balance at 31st May 2019

100

(18,751

)

(18,651

)

1.	STATUTORY INFORMATION

Friendly London 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.

Turnover

Turnover represents income receivable which is recognised when the company obtains the right to

consideration for services provided.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st June 2018

and 31st May 2019

1,492

DEPRECIATION

At 1st June 2018

and 31st May 2019

1,492

NET BOOK VALUE

At 31st May 2019

-

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

664

-

Directors' current accounts

19,584

14,664

Accrued expenses

1,320

1,920

21,568

16,584

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1

100

100

7.	ULTIMATE CONTROLLING PARTY