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Falcon Construction & Management Contractors Ltd
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10062127
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 33,515 32,482
33,515 32,482
CURRENT ASSETS
Stocks 5 48,000 48,000
Debtors 6 24,147 48
Cash at bank and in hand 28,295 97,039
100,442 145,087
Creditors: Amounts Falling Due Within One Year 7 (62,081 ) (117,415 )
NET CURRENT ASSETS (LIABILITIES) 38,361 27,672
TOTAL ASSETS LESS CURRENT LIABILITIES 71,876 60,154
Creditors: Amounts Falling Due After More Than One Year 8 (46,055 ) (55,054 )
NET ASSETS 25,821 5,100
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 25,819 5,098
SHAREHOLDERS' FUNDS 25,821 5,100
Page 1
Page 2
For the year ending 31 March 2024 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Kristijonas Sakalas
Director
26th April 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Falcon Construction & Management Contractors Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10062127 . The registered office is Jubilee House, Third Avenue, Marlow, Buckinghamshire, SL7 1EY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% reducing balance basis
Motor Vehicles 25% reducing balance basis
Computer Equipment 15% reducing balance basis
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 3 3
3 3
Page 3
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4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 40,541 11,284 6,321 58,146
Additions 7,550 - 1,860 9,410
As at 31 March 2024 48,091 11,284 8,181 67,556
Depreciation
As at 1 April 2023 15,879 7,348 2,437 25,664
Provided during the period 6,442 787 1,148 8,377
As at 31 March 2024 22,321 8,135 3,585 34,041
Net Book Value
As at 31 March 2024 25,770 3,149 4,596 33,515
As at 1 April 2023 24,662 3,936 3,884 32,482
5. Stocks
2024 2023
£ £
Work in progress 48,000 48,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 24,147 48
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 3,333 3,333
Trade creditors 2 1,982
Corporation tax 18,391 -
Other taxes and social security 5,117 -
VAT 33,835 14,505
Accruals and deferred income 605 605
Directors' loan accounts 798 96,990
62,081 117,415
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 15,377 18,710
Bank loans 30,678 36,344
46,055 55,054
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9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 3,333 3,333
Later than one year and not later than five years 15,377 18,710
18,710 22,043
18,710 22,043
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
2 Ordinary Shares of £ 1 each 2 2
11. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Mr Kristijonas Sakalas 54,000 -
12. Ultimate Controlling Party
The company's ultimate controlling party is Mr Kristijonas Sakalas by virtue of his ownership of 100% of the issued share capital in the company.
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