1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 10,795 10,764 31 10,795 31 xbrli:pure xbrli:shares iso4217:GBP 07242512 2023-04-01 2024-03-31 07242512 2024-03-31 07242512 2023-03-31 07242512 2022-04-01 2023-03-31 07242512 2023-03-31 07242512 2022-03-31 07242512 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 07242512 bus:Director1 2023-04-01 2024-03-31 07242512 core:WithinOneYear 2024-03-31 07242512 core:WithinOneYear 2023-03-31 07242512 core:ShareCapital 2024-03-31 07242512 core:ShareCapital 2023-03-31 07242512 core:RetainedEarningsAccumulatedLosses 2024-03-31 07242512 core:RetainedEarningsAccumulatedLosses 2023-03-31 07242512 bus:SmallEntities 2023-04-01 2024-03-31 07242512 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 07242512 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07242512 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07242512 bus:FullAccounts 2023-04-01 2024-03-31 07242512 bus:OrdinaryShareClass1 2024-03-31 07242512 bus:OrdinaryShareClass1 2023-03-31 07242512 core:OfficeEquipment 2023-04-01 2024-03-31 07242512 core:OfficeEquipment 2024-03-31 07242512 core:OfficeEquipment 2023-03-31 07242512 core:OtherRelatedParties 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 07242512
Falco Consulting Limited
Filleted Unaudited Financial Statements
31 March 2024
Falco Consulting Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
31
Current assets
Debtors
6
18,243
22,867
Cash at bank and in hand
433,134
357,581
---------
---------
451,377
380,448
Creditors: amounts falling due within one year
7
48,570
21,219
---------
---------
Net current assets
402,807
359,229
---------
---------
Total assets less current liabilities
402,807
359,260
---------
---------
Net assets
402,807
359,260
---------
---------
Capital and reserves
Called up share capital
8
1
1
Profit and loss account
402,806
359,259
---------
---------
Shareholders funds
402,807
359,260
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Falco Consulting Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 8 September 2024 , and are signed on behalf of the board by:
Dr R Marks
Director
Company registration number: 07242512
Falco Consulting Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, Chelmsford, Essex, CM2 0AW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% straight line
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 April 2023 and 31 March 2024
10,795
10,795
--------
--------
Depreciation
At 1 April 2023
10,764
10,764
Charge for the year
31
31
--------
--------
At 31 March 2024
10,795
10,795
--------
--------
Carrying amount
At 31 March 2024
--------
--------
At 31 March 2023
31
31
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
18,243
22,867
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
1,645
1,634
Corporation tax
17,821
17,183
Social security and other taxes
6,348
1,478
Director loan accounts
22,756
924
--------
--------
48,570
21,219
--------
--------
8. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
1
1
----
----
----
----
9. Related party transactions
At the balance sheet date the company owed the director £22,756 (2023: £924) by way of a directors loan account. This loan, which is shown amongst creditors, is interest free and repayable on demand.