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REGISTERED NUMBER: 02686097 (England and Wales)














Financial Statements

for the Year Ended 31 December 2023

for

Falco UK Ltd

Falco UK Ltd (Registered number: 02686097)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


Falco UK Ltd (Registered number: 02686097)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,275,424 1,179,446

CURRENT ASSETS
Stocks 617,040 766,827
Debtors 5 568,705 1,284,479
Cash at bank and in hand 1,194,367 1,299,416
2,380,112 3,350,722
CREDITORS
Amounts falling due within one year 6 557,786 885,823
NET CURRENT ASSETS 1,822,326 2,464,899
TOTAL ASSETS LESS CURRENT LIABILITIES 3,097,750 3,644,345

PROVISIONS FOR LIABILITIES 46,402 11,767
NET ASSETS 3,051,348 3,632,578

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3,051,248 3,632,478
SHAREHOLDERS' FUNDS 3,051,348 3,632,578

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 Profit and Loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2024 and were signed on its behalf by:





R A Harper - Director


Falco UK Ltd (Registered number: 02686097)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Falco UK Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02686097

Registered office: Unit 8
Leekbrook Way
Leekbrook
Staffordshire
ST13 7AP

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.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being the 12 month period from the date of these accounts being approved, given the impact of the Coronavirus upon the economy and therefore the financial statements have been prepared on a going concern basis.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Revenue is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

- Sales of Goods

Turnover from the sale of goods and services is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is on despatch of goods or service delivery and when installations are fully completed, being the point at which revenue can be measured reliably.

- Rental income

Rental income is recognised on an accruals basis when the company is entitled to the income.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 25% straight line basis
Motor vehicles - 25% straight line basis

Stocks
Stocks are stated at the lower of cost and the net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit and loss.


Falco UK Ltd (Registered number: 02686097)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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.

Government grants
Government grants in respect of capital expenditure are credited to deferred income and are released to the profit and loss account by equal annual instalments over the expected useful life of the assets - £1,526(2021 - £2,951).

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 14 ) .

Falco UK Ltd (Registered number: 02686097)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 January 2023 1,343,582 220,388 373,585 1,937,555
Additions - 77,804 142,997 220,801
Disposals - - (104,535 ) (104,535 )
At 31 December 2023 1,343,582 298,192 412,047 2,053,821
DEPRECIATION
At 1 January 2023 319,478 149,857 288,774 758,109
Charge for year 26,871 38,933 55,163 120,967
Eliminated on disposal - - (100,679 ) (100,679 )
At 31 December 2023 346,349 188,790 243,258 778,397
NET BOOK VALUE
At 31 December 2023 997,233 109,402 168,789 1,275,424
At 31 December 2022 1,024,104 70,531 84,811 1,179,446

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 514,991 1,245,379
Other debtors 53,714 39,100
568,705 1,284,479

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 87,140 156,786
Amounts owed to group undertakings 130,261 262,078
Taxation and social security 118,052 136,896
Other creditors 222,333 330,063
557,786 885,823

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 7,957 13,261
Between one and five years 23,870 31,827
31,827 45,088

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jeremy Bostock BA BFP FCA (Senior Statutory Auditor)
for and on behalf of Thompson Wright Limited

Falco UK Ltd (Registered number: 02686097)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements - 147,668

10. ULTIMATE CONTROLLING PARTY

The company's immediate parent company is Friesa B.V., a company registered at Weitzelweg 8, , NL-7671 EJ Vriezenveen, Netherlands. The company's ultimate parent company is Friesacher Gemeenschappelijk Bezit Holding B.V, a company registered in the Netherlands.

The directors are of the opinion that there are no personnel regarded as key management.

The ultimate controlling party is Mr Franz Friesacher.