Friends Building Contractors Limited,Ltd - AccountsLtd - Accounts

Friends Building Contractors Limited,Ltd - AccountsLtd - Accounts

FRIENDS BUILDING CONTRACTORS LIMITED - Company Information

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2021-01-01 04947010 2021-12-31 04947010 2021-01-01 2021-12-31 04947010 2020-12-31 04947010 2020-01-01 2020-12-31 04947010 uk-core:WithinOneYear 2020-12-31 04947010 uk-core:WithinOneYear 2021-12-31 04947010 uk-core:AfterOneYear 2020-12-31 04947010 uk-core:AfterOneYear 2021-12-31 04947010 uk-core:ShareCapital 2021-12-31 04947010 uk-core:ShareCapital 2020-12-31 04947010 uk-core:RetainedEarningsAccumulatedLosses 2021-12-31 04947010 uk-core:RetainedEarningsAccumulatedLosses 2020-12-31 04947010 uk-bus:Director1 2021-01-01 2021-12-31 04947010 uk-core:PlantMachinery 2021-01-01 2021-12-31 04947010 uk-core:CommercialMotorVehicles 2021-01-01 2021-12-31 04947010 uk-core:FurnitureFittings 2021-01-01 2021-12-31 04947010 uk-core:FurnitureFittings 2020-12-31 04947010 uk-core:CommercialMotorVehicles 2020-12-31 04947010 uk-core:PlantMachinery 2020-12-31 04947010 uk-core:PlantMachinery 2021-12-31 04947010 uk-core:CommercialMotorVehicles 2021-12-31 04947010 uk-core:FurnitureFittings 2021-12-31 04947010 uk-core:WithinOneYear uk-core:Secured 2021-12-31 04947010 uk-core:WithinOneYear uk-core:Secured 2020-12-31 iso4217:GBP xbrli:pure 04947010 uk-bus:AuditExemptWithAccountantsReport 2021-01-01 2021-12-31 04947010 uk-bus:FRS102 2021-01-01 2021-12-31 04947010 uk-bus:FullAccounts 2021-01-01 2021-12-31 04947010 uk-bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31
Friends Building Contractors Limited
Registered Number:04947010
For the year ended 31 December 2021
England and Wales
Unaudited Financial Statements
2
For the year ended 31 December 2021
Friends Building Contractors Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
04947010
As at 31 December 2021
Friends Building Contractors Limited
Statement of Financial Position
£
£
2020
2021
Notes
Fixed assets
Property, plant and equipment
27,042
10,723
2
27,042
10,723
Current assets
Inventories
77,276
79,241
3
Trade and other receivables
42,796
42,205
4
15,979
Cash and cash equivalents
35,507
156,953
136,051
Trade and other payables: amounts falling due within one
year
(108,918)
(145,167)
5
27,133
11,786
Net current assets
Total assets less current liabilities
38,828
37,856
Trade and other payables: amounts falling due after more
than one year
-
(22,573)
6
16,255
Net assets
37,856
Capital and reserves
Called up share capital
2
2
Retained earnings
16,253
37,854
16,255
37,856
Shareholders' funds
For the year ended 31 December 2021 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Avtar Jheeta Director
These financial statements were approved and authorised for issue by the Board on 24 December 2022 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 December 2021
Friends Building Contractors Limited
Notes to the Financial Statements
Statutory Information
Friends Building Contractors Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 04947010.
Registered address:
596A Romford Road
Manor Park
London
E12 5AF
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
15% Reducing balance
25% Reducing balance
Motor vehicles
15% Reducing balance
Fixtures and fittings
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a method giving a constant rate of return on the balance outstanding.
2 of 4
5
For the year ended 31 December 2021
Friends Building Contractors Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Fixtures and
fittings
Motor vehicles
Plant and
machinery
£
£
£
£
Cost or
valuation
At 01 January 2021
50,427
4,197
33,871
12,359
25,137
-
25,137
-
Additions
At 31 December 2021
12,359
59,008
4,197
75,564
Provision for depreciation and impairment
At 01 January 2021
39,704
3,440
24,601
11,663
Charge for year
8,818
113
8,601
104
At 31 December 2021
48,522
3,553
33,202
11,767
At 31 December 2021
Net book value
592
25,806
644
27,042
At 31 December 2020
696
9,270
757
10,723
3. Inventories
2020
2021
£
£
Stocks
79,241
77,276
4. Trade and other receivables
2020
2021
£
£
Trade debtors
37,139
39,621
Other debtors
5,066
3,175
42,796
42,205
5. Trade and other payables: amounts falling due within one year
2020
2021
£
£
Bank loans and overdraft (secured)
1,100
7,686
Trade creditors
72,129
36,398
Taxation and social security
25,082
20,362
Other creditors
46,856
44,472
145,167
108,918
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6
For the year ended 31 December 2021
Friends Building Contractors Limited
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due after more than one year
2020
2021
£
£
Other creditors
22,573
-
7. Average number of persons employed
During the year the average number of employees was 6 (2020 : 7)
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