Friendly Integrated Solutions Limited Filleted accounts for Companies House (small and micro)

FRIENDLY INTEGRATED SOLUTIONS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 07588123

FRIENDLY INTEGRATED SOLUTIONS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2020

FRIENDLY INTEGRATED SOLUTIONS LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2020

	2020		2019
Note	£	£	£	£

FIXED ASSETS

Tangible assets	5		4,098		2,653

CURRENT ASSETS

Stocks		1,525	1,460
Debtors	6	23,417	17,637
Cash at bank and in hand		19,462	12,707
		--------	--------
		44,404	31,804

CREDITORS: amounts falling due within one year	7	27,243		11,772
		--------		--------
NET CURRENT ASSETS			17,161		20,032
			--------		--------
TOTAL ASSETS LESS CURRENT LIABILITIES			21,259		22,685

CREDITORS: amounts falling due after more than one year	8	67,967	86,731
		--------	--------
NET LIABILITIES		( 46,708)	( 64,046)
		--------	--------

CAPITAL AND RESERVES

Called up share capital	100	100
Profit and loss account	( 46,808)	( 64,146)
	--------	--------
SHAREHOLDERS DEFICIT	( 46,708)	( 64,046)
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

FRIENDLY INTEGRATED SOLUTIONS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2020

These financial statements were approved by the board of directors and authorised for issue on 26 November 2020 , and are signed on behalf of the board by:

A. Tahid
Director

Company registration number: 07588123

FRIENDLY INTEGRATED SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2020

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 8 Melia Close, Rawtenstall, Lancashire, BB4 6RQ, England.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

(a) Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

(b) Revenue recognition

The turnover shown in the profit and loss account represents the invoice value of goods supplied and services provided during the year, exclusive of Value Added Tax.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

(d) Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

(e) Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Motor Vehicles	-	25% per annum reducing balance
Equipment	-	`25% per annum reducing balance`

(f) Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

(g) Financial instruments

Basic financial instruments are recognised at amortised cost.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 3 (2019: 2 ).

5. TANGIBLE ASSETS

	Motor Vehicles	Equipment	Total
	£	£	£
Cost
At 1 April 2019	1,850	4,183	6,033
Additions	1,800	1,010	2,810
	-------	-------	-------
At 31 March 2020	3,650	5,193	8,843
	-------	-------	-------
Depreciation
At 1 April 2019	–	3,380	3,380
Charge for the year	912	453	1,365
	-------	-------	-------
At 31 March 2020	912	3,833	4,745
	-------	-------	-------
Carrying amount
At 31 March 2020	2,738	1,360	4,098
	-------	-------	-------
At 31 March 2019	1,850	803	2,653
	-------	-------	-------

6. DEBTORS

	2020	2019
	£	£
Trade debtors	23,417	17,637
	--------	--------

7. CREDITORS: amounts falling due within one year

	2020	2019
	£	£
Trade creditors	2,025	1,374
Accruals and deferred income	1,350	1,100
Social security and other taxes	3,797	3,062
Funding circle loan	20,071	6,236
	--------	--------
	27,243	11,772
	--------	--------

8. CREDITORS: amounts falling due after more than one year

	2020	2019
	£	£
Funding circle loan	–	18,764
Other loans	67,967	67,967
	--------	--------
	67,967	86,731
	--------	--------

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

There are no transactions with directors that require disclosure under FRS 102.

10. RELATED PARTY TRANSACTIONS

The company was under the control of the director throughout the year. No transactions with related parties were undertaken such as are required to be disclosed under the provisions of FRS 102 Section 1A.