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REGISTERED NUMBER: 00416729 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

FALCON MEWS DEVELOPMENTS LIMITED

FALCON MEWS DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00416729)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


FALCON MEWS DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mrs J Downer
Ms E E Russell
P D Russell





SECRETARY: Mrs J Downer





REGISTERED OFFICE: Highfields Gatehouse Road
Upton
Ryde
Isle of Wight
PO33 4BS





REGISTERED NUMBER: 00416729 (England and Wales)





ACCOUNTANTS: Bright Brown Limited
Chartered Accountants
Exchange House
St. Cross Lane
Newport
Isle of Wight
PO30 5BZ

FALCON MEWS DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00416729)

BALANCE SHEET
31 MARCH 2023

2023 2022
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 1,528
Investments 5 7,699 22,759
Investment property 6 3,300,000 3,300,000
3,307,699 3,324,287

CURRENT ASSETS
Debtors 7 313 313
Cash at bank 36,400 34,774
36,713 35,087
CREDITORS
Amounts falling due within one year 8 426,865 501,664
NET CURRENT LIABILITIES (390,152 ) (466,577 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,917,547 2,857,710

PROVISIONS FOR LIABILITIES 477,016 402,955
NET ASSETS 2,440,531 2,454,755

CAPITAL AND RESERVES
Called up share capital 9,906 9,906
Retained earnings 2,430,625 2,444,849
2,440,531 2,454,755

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

FALCON MEWS DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00416729)

BALANCE SHEET - continued
31 MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 November 2023 and were signed on its behalf by:





Mrs J Downer - Director


FALCON MEWS DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00416729)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Falcon Mews Developments 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 as modified by the revaluation of certain assets.

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 - 50% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investments
Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

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.

FALCON MEWS DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00416729)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 4,776
DEPRECIATION
At 1 April 2022 3,248
Charge for year 1,528
At 31 March 2023 4,776
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 1,528

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2022 22,759
Impairments (15,060 )
At 31 March 2023 7,699
NET BOOK VALUE
At 31 March 2023 7,699
At 31 March 2022 22,759

FALCON MEWS DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00416729)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 3,300,000
NET BOOK VALUE
At 31 March 2023 3,300,000
At 31 March 2022 3,300,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 1999 144,984
Valuation in 2000 60,000
Valuation in 2002 370,000
Valuation in 2013 249,182
Valuation in 2014 60,817
Valuation in 2018 1,075,553
Valuation in 2019 8,750
Valuation in 2022 150,000
Cost 1,180,714
3,300,000

The property at 46 Oakmead has been revalued at 31 March 2022 to £3,150,000 by Kemsley Property Consultants based on market value and market rent. The property at Downsview Gardens is included at director's valuation of £150,000 as at 31 March 2022. The directors are of the opinion that the values have not changed at 31 March 2023.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Other debtors 313 313

FALCON MEWS DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00416729)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade creditors 948 948
Taxation and social security 20,771 21,686
Other creditors 405,146 479,030
426,865 501,664

Within other creditors there is a balance owed to Rill Place Ltd of £15,196 (2022: £45,627).

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within other creditors, there is an amount owed to the directors of £384,000 (2022: £429,000).