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REGISTERED NUMBER: 04880985 (England and Wales)














Unaudited Financial Statements

for the Period 1 January 2023 to 31 January 2024

for

Falcon Hotel Limited

Falcon Hotel Limited (Registered number: 04880985)

Contents of the Financial Statements
for the Period 1 January 2023 to 31 January 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

Falcon Hotel Limited

Company Information
for the Period 1 January 2023 to 31 January 2024







DIRECTOR: D Hinds





REGISTERED OFFICE: 5 Barnfield Crescent
Exeter
Devon
EX1 1RF





REGISTERED NUMBER: 04880985 (England and Wales)





ACCOUNTANTS: Kirk Hills Chartered Accountants
5 Barnfield Crescent
Exeter
Devon
EX1 1QT

Falcon Hotel Limited (Registered number: 04880985)

Balance Sheet
31 January 2024

31.1.24 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 14,190

CURRENT ASSETS
Stocks - 4,300
Debtors 5 270 2,234
Cash at bank and in hand 502,178 412,158
502,448 418,692
CREDITORS
Amounts falling due within one year 6 88,507 62,504
NET CURRENT ASSETS 413,941 356,188
TOTAL ASSETS LESS CURRENT
LIABILITIES

413,941

370,378

PROVISIONS FOR LIABILITIES - 1,275
NET ASSETS 413,941 369,103

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 413,841 369,003
SHAREHOLDERS' FUNDS 413,941 369,103

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 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 director and authorised for issue on 29 February 2024 and were signed by:





D Hinds - Director


Falcon Hotel Limited (Registered number: 04880985)

Notes to the Financial Statements
for the Period 1 January 2023 to 31 January 2024


1. STATUTORY INFORMATION

Falcon Hotel 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

An asset is recognised when expenditure is incurred on a piece of equipment, machinery or the like that is expected to have a useful life of more than one year

Stocks
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling cost in bringing stocks to their present location and condition.

Financial instruments
(i) Financial assets
Basic financial assets, including trade and other receivables are initially recognised at the transaction price and therefore stated at amortisation cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the debtors are stated at cost less impairment losses for bad and doubtful debts.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities
Basic financial liabilities, including trade and other payables, bank loans and other loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortisation cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.


Falcon Hotel Limited (Registered number: 04880985)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 31 January 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period 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 period 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 6 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 86,254 98,135 6,963 191,352
Additions 870 300 116 1,286
Disposals (87,124 ) (98,435 ) (7,079 ) (192,638 )
At 31 January 2024 - - - -
DEPRECIATION
At 1 January 2023 78,028 93,489 5,645 177,162
Charge for period 1,895 1,030 298 3,223
Eliminated on disposal (79,923 ) (94,519 ) (5,943 ) (180,385 )
At 31 January 2024 - - - -
NET BOOK VALUE
At 31 January 2024 - - - -
At 31 December 2022 8,226 4,646 1,318 14,190

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.12.22
£    £   
Trade debtors - 1,807
Other debtors 270 427
270 2,234

Falcon Hotel Limited (Registered number: 04880985)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 31 January 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.12.22
£    £   
Trade creditors (1 ) 3,134
Taxation and social security 16,187 48,330
Other creditors 72,321 11,040
88,507 62,504

7. RELATED PARTY DISCLOSURES

During the year the company rented The Sibson Inn from Mr D Hinds at a nil rent (2022: £45,000).

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Falcon Hotel Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Falcon Hotel Limited for the period ended 31 January 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Falcon Hotel Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Falcon Hotel Limited and state those matters that we have agreed to state to the director of Falcon Hotel Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Falcon Hotel Limited and its director for our work or for this report.

It is your duty to ensure that Falcon Hotel Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Falcon Hotel Limited. You consider that Falcon Hotel Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Falcon Hotel Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Kirk Hills Chartered Accountants
5 Barnfield Crescent
Exeter
Devon
EX1 1QT


22 February 2024