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Company Registration No. 02466419 (England and Wales)
Falconway Limited Unaudited accounts for the year ended 31 January 2022
Falconway Limited Unaudited accounts Contents
Page
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Falconway Limited Company Information for the year ended 31 January 2022
Directors
Farid Motamed Richard Turner
Company Number
02466419 (England and Wales)
Registered Office
THE OLD VYNE WEST HEATH BAUGHURST TADLEY HAMPSHIRE RG26 5LE
Accountants
Black & White Chartered Certified Accountants 2-3 Stable Court Herriard Park Herriard Hampshire RG25 2PL
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Falconway Limited Statement of financial position as at 31 January 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
235 
314 
Investment property
1,550,400 
1,515,400 
Investments
557,191 
557,191 
2,107,826 
2,072,905 
Current assets
Cash at bank and in hand
43,857 
19,429 
Creditors: amounts falling due within one year
(761,739)
(782,875)
Net current liabilities
(717,882)
(763,446)
Total assets less current liabilities
1,389,944 
1,309,459 
Creditors: amounts falling due after more than one year
(260,545)
(260,545)
Provisions for liabilities
Deferred tax
(52,064)
(45,414)
Net assets
1,077,335 
1,003,500 
Capital and reserves
Called up share capital
155,000 
155,000 
Revaluation reserve
555,041 
555,041 
Profit and loss account
367,294 
293,459 
Shareholders' funds
1,077,335 
1,003,500 
For the year ending 31 January 2022 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2022 and were signed on its behalf by
Farid Motamed Director Company Registration No. 02466419
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Falconway Limited Notes to the Accounts for the year ended 31 January 2022
1
Statutory information
Falconway Limited is a private company, limited by shares, registered in England and Wales, registration number 02466419. The registered office is THE OLD VYNE WEST HEATH, BAUGHURST, TADLEY, HAMPSHIRE, RG26 5LE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Reducing Balance
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Investments
Investments in shares are included at fair value.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Falconway Limited Notes to the Accounts for the year ended 31 January 2022
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 February 2021
28,041 
At 31 January 2022
28,041 
Depreciation
At 1 February 2021
27,727 
Charge for the year
79 
At 31 January 2022
27,806 
Net book value
At 31 January 2022
235 
At 31 January 2021
314 
5
Investment property
2022 
£ 
Fair value at 1 February 2021
1,515,400 
Net gain from fair value adjustments
35,000 
At 31 January 2022
1,550,400 
Investment property is included at fair value. Gains are recognised in the income statement. Deferred tax is provided on these gains at the rate expected to apply when the properties are sold.
6
Investments
Other investments 
£ 
Valuation at 1 February 2021
557,191 
Valuation at 31 January 2022
557,191 
The company holds 26% of the issued Ordinary Share Capital to the value of £30,428 (2018 : £30,428) in Lodage Properties Limited, a company incorporated in England and Wales
7
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Bank loans and overdrafts
63,962 
69,044 
Taxes and social security
8,459 
4,817 
Other creditors
547,204 
560,092 
Loans from directors
140,874 
147,682 
Accruals
1,240 
1,240 
761,739 
782,875 
The bank overdraft and mortgage is secured by a standard bank debenture, on the associated freehold property.
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Falconway Limited Notes to the Accounts for the year ended 31 January 2022
8
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Bank loans
70,545 
70,545 
Other creditors
190,000 
190,000 
260,545 
260,545 
9
Average number of employees
During the year the average number of employees was 0 (2021: 0).
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