Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-032024-05-032023-05-01falsetrueFund management activitiesfalse22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11307155 2023-05-01 2024-05-03 11307155 2022-05-01 2023-04-30 11307155 2024-05-03 11307155 2023-04-30 11307155 c:Director1 2023-05-01 2024-05-03 11307155 d:OfficeEquipment 2023-05-01 2024-05-03 11307155 d:OfficeEquipment 2024-05-03 11307155 d:OfficeEquipment 2023-04-30 11307155 d:Goodwill 2023-05-01 2024-05-03 11307155 d:Goodwill 2024-05-03 11307155 d:Goodwill 2023-04-30 11307155 d:CurrentFinancialInstruments 2024-05-03 11307155 d:CurrentFinancialInstruments 2023-04-30 11307155 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-03 11307155 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 11307155 d:ShareCapital 2024-05-03 11307155 d:ShareCapital 2023-04-30 11307155 d:SharePremium 2024-05-03 11307155 d:SharePremium 2023-04-30 11307155 d:RetainedEarningsAccumulatedLosses 2024-05-03 11307155 d:RetainedEarningsAccumulatedLosses 2023-04-30 11307155 c:FRS102 2023-05-01 2024-05-03 11307155 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-05-03 11307155 c:FullAccounts 2023-05-01 2024-05-03 11307155 c:PrivateLimitedCompanyLtd 2023-05-01 2024-05-03 11307155 e:PoundSterling 2023-05-01 2024-05-03 iso4217:GBP xbrli:pure
Registered number: 11307155






FALCO INVESTMENT MANAGEMENT LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 3 MAY 2024










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FALCO INVESTMENT MANAGEMENT LIMITED
REGISTERED NUMBER:11307155

BALANCE SHEET
AS AT 3 MAY 2024

3 May
30 April
2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
16,500

Tangible assets
 5 
-
1

  
-
16,501

Current assets
  

Debtors: amounts falling due within one year
 6 
66,000
2,923

Cash at bank and in hand
 7 
-
2,460

  
66,000
5,383

Creditors: amounts falling due within one year
 8 
-
(6,245)

Net current assets/(liabilities)
  
 
 
66,000
 
 
(862)

Total assets less current liabilities
  
66,000
15,639

  

Net assets
  
66,000
15,639


Capital and reserves
  

Called up share capital 
  
167
150

Share premium account
  
115,833
49,850

Profit and loss account
  
(50,000)
(34,361)

  
66,000
15,639


Page 1

 
FALCO INVESTMENT MANAGEMENT LIMITED
REGISTERED NUMBER:11307155
    
BALANCE SHEET (CONTINUED)
AS AT 3 MAY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




R S Anderson
Director

Date: 15 August 2024

Page 2

 
FALCO INVESTMENT MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 3 MAY 2024

1.


General information

Falco Investment Management Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is 32-38 East Street, Rochford, England, SS4 1DB.
The principal activity of the company continued to be that of fund management activities.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

Taking in to account a period exceeding 12 months from the date of approval of these financial statements, the Directors have a reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future, and for this reason will continue to adopt the going concern basis in the preparation of its financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 3

 
FALCO INVESTMENT MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 3 MAY 2024

2.Accounting policies (continued)

 
2.5

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
FALCO INVESTMENT MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 3 MAY 2024

2.Accounting policies (continued)

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 5

 
FALCO INVESTMENT MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 3 MAY 2024

3.


Employees

The average monthly number of employees, including directors, during the period was 2 (2023 -2).


4.


Intangible assets






Goodwill

£





At 1 May 2023
33,000


Disposals
(33,000)



At 3 May 2024

-





At 1 May 2023
16,500


On disposals
(16,500)



At 3 May 2024

-



Net book value



At 3 May 2024
-



At 30 April 2023
16,500



Page 6

 
FALCO INVESTMENT MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 3 MAY 2024

5.


Tangible fixed assets







Office equipment

£





At 1 May 2023
731


Disposals
(731)



At 3 May 2024

-





At 1 May 2023
730


Disposals
(730)



At 3 May 2024

-



Net book value



At 3 May 2024
-



At 30 April 2023
1


6.


Debtors

3 May
30 April
2024
2023
£
£


Other debtors
-
2,923

Called up share capital not paid
66,000
-

66,000
2,923



7.


Cash and cash equivalents

3 May
30 April
2024
2023
£
£

Cash at bank and in hand
-
2,460

-
2,460


Page 7

 
FALCO INVESTMENT MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 3 MAY 2024

8.


Creditors: Amounts falling due within one year

3 May
30 April
2024
2023
£
£

Other creditors
-
5,705

Accruals and deferred income
-
540

-
6,245


 
Page 8