Company registration number 08561357 (England and Wales)
Falconer Holdings Limited
FINANCIAL STATEMENTS
for the year ended 31 March 2024
PAGES FOR FILING WITH REGISTRAR
Falconer Holdings Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
Falconer Holdings Limited
Statement Of Financial Position
as at 31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
109,891
122,101
Investments
4
93
109,891
122,194
Current assets
-
-
Creditors: amounts falling due within one year
5
(3,737)
(2,859)
Net current liabilities
(3,737)
(2,859)
Total assets less current liabilities
106,154
119,335
Provisions for liabilities
(15,877)
(12,452)
Net assets
90,277
106,883
Capital and reserves
Called up share capital
93
93
Profit and loss reserves
90,184
106,790
Total equity
90,277
106,883
The director of the company has elected not to include a copy of the income statement within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 12 August 2024
R J Martin
Director
Company registration number 08561357 (England and Wales)
Falconer Holdings Limited
Notes to the financial statements
for the year ended 31 March 2024
- 2 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the disclosure requirements available.
The financial statements of the company are consolidated in the financial statements of Falconer 2016 Limited. These consolidated financial statements are available from its registered office, Unit 5G, Navigation Close, Lowfields Business Park, HX5 9HB
Turnover
Turnover is measured at the fair value of the consideration received or receivable for hired goods.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
10% reducing balance
Fixtures, fittings & equipment
10% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Falconer Holdings Limited
Notes to the financial statements (continued)
for the year ended 31 March 2024
1
Accounting policies
(continued)
- 3 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end 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 represent accumulated differences between the company's taxable profit and its financial profit and arise primarily from the difference between the accelerated capital allowances and depreciation.
Deferred tax is measured on an undiscounted basis at tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
233,337
81,825
315,162
Depreciation and impairment
At 1 April 2023
142,937
50,124
193,061
Depreciation charged in the year
9,040
3,170
12,210
At 31 March 2024
151,977
53,294
205,271
Carrying amount
At 31 March 2024
81,360
28,531
109,891
At 31 March 2023
90,400
31,701
122,101
Falconer Holdings Limited
Notes to the financial statements (continued)
for the year ended 31 March 2024
- 4 -
4
Fixed asset investments
2024
2023
£
£
Investments
-
93
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 April 2023
93
Disposals
(93)
At 31 March 2024
-
Carrying amount
At 31 March 2024
-
At 31 March 2023
93
5
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
3,737
2,859
6
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
James Bell
Statutory Auditor:
B M Howarth Ltd
Date of audit report:
12 August 2024
7
Related party transactions
In accordance with the exemptions available to the company, related party disclosures in respect of group transactions are not disclosed on the basis that the details of the subsidiary are included in the group financial statements of the parent company.
8
Parent company
The company's parent company is Falconer 2016 Limited a company incorporated in England and Wales. The company's registered office is Unit G5, Navigation Close, Lowfields Business Park, Halifax , HX5 9HB.
Falconer Holdings Limited
Notes to the financial statements (continued)
for the year ended 31 March 2024
- 5 -
9
Company information
Falconer Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit G5 Navigation Close, Lowfields Business Park, Elland, HX5 9HB.