Friars Limited - Limited company - abbreviated

REGISTERED NUMBER: 02113831 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

FOR

FRIARS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

M J S Hazell

A M Hazell

SECRETARY:

A M Hazell

REGISTERED OFFICE:

Hill Farm

Goldcliffe

Newport

South Wales

NP18 2PH

REGISTERED NUMBER:

02113831 (England and Wales)

ACCOUNTANTS:

Arthur Gait & Company

Chartered Accountants

18 Gold Tops

Newport

South Wales

NP20 5WJ

FIXED ASSETS

Investment property

2

1,980,000

CURRENT ASSETS

Debtors

45,001

46,878

Cash at bank

698,461

593,677

743,462

640,555

CREDITORS

Amounts falling due within one year

875,894

774,272

NET CURRENT LIABILITIES

(132,432

)

(133,717

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,847,568

1,846,283

CAPITAL AND RESERVES

Called up share capital

3

100

Revaluation reserve

497,027

Profit and loss account

1,350,441

1,349,156

SHAREHOLDERS' FUNDS

1,847,568

1,846,283

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 24 September 2015 and were signed on its behalf
by:

M J S Hazell - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008).

Turnover

Turnover represents net rents , excluding value added tax.

Investment property

Investment property is valued on an open market basis annually by Mr. M.J.S.Hazell. Movements in the

valuation are reflected in the revaluation reserve.

No depreciation is provided for in respect of investment properties in accordance with the Financial Reporting

Standard for Small Entities (effective April 2008). Such properties are held for their investment potential and not

for consumption within the business. This is a departure from the Companies Act 2006, which requires all

properties to be depreciated and the directors consider that to depreciate them would not enable the financial

statements to give a true and fair view. Investment properties are stated at their market value at 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.

2.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 January 2014

and 31 December 2014

1,980,000

NET BOOK VALUE

At 31 December 2014

1,980,000

At 31 December 2013

1,980,000

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.14

31.12.13

value:

£

100

Ordinary Shares

£1

100

4.	ULTIMATE CONTROLLING PARTY

The company is controlled by Mr M J S Hazell.

Friars Limited - Limited company - abbreviated - 11.6

Friars Limited - Limited company - abbreviated - 11.6