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REGISTERED NUMBER: 01393214 (England and Wales)








Unaudited Financial Statements

for the Year Ended

31 March 2024

for

Falcondale Limited

Falcondale Limited (Registered number: 01393214)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Falcondale Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs C A Smith
S B Smith





SECRETARY: Mrs C A Smith





REGISTERED OFFICE: Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT





REGISTERED NUMBER: 01393214 (England and Wales)





ACCOUNTANTS: Nicklin Accountancy Services Limited
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

Falcondale Limited (Registered number: 01393214)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,634,261 1,716,877
1,634,261 1,716,877

CURRENT ASSETS
Stocks 15,250 13,500
Debtors 6 11,251 9,328
Cash in hand 11,344 937
37,845 23,765
CREDITORS
Amounts falling due within one year 7 417,138 360,910
NET CURRENT LIABILITIES (379,293 ) (337,145 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,254,968

1,379,732

CREDITORS
Amounts falling due after more than one
year

8

(926,815

)

(1,059,079

)

PROVISIONS FOR LIABILITIES (60,946 ) (57,495 )
NET ASSETS 267,207 263,158

CAPITAL AND RESERVES
Called up share capital 7,000 7,000
Capital redemption reserve 3,000 3,000
Retained earnings 257,207 253,158
SHAREHOLDERS' FUNDS 267,207 263,158

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Falcondale Limited (Registered number: 01393214)

Balance Sheet - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 August 2024 and were signed on its behalf by:





S B Smith - Director


Falcondale Limited (Registered number: 01393214)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Falcondale Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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
Fixtures and fittings - 10% on cost
Refurbishment project - 10% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 12 ) .

Falcondale Limited (Registered number: 01393214)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 1,000
AMORTISATION
At 1 April 2023
and 31 March 2024 1,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Refurbishment
property fittings project Totals
£    £    £    £   
COST
At 1 April 2023 1,980,844 747,384 779,255 3,507,483
Additions - 24,135 4,648 28,783
At 31 March 2024 1,980,844 771,519 783,903 3,536,266
DEPRECIATION
At 1 April 2023 573,031 712,574 505,001 1,790,606
Charge for year 27,288 6,187 77,924 111,399
At 31 March 2024 600,319 718,761 582,925 1,902,005
NET BOOK VALUE
At 31 March 2024 1,380,525 52,758 200,978 1,634,261
At 31 March 2023 1,407,813 34,810 274,254 1,716,877

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,200 -
Other debtors 7,051 9,328
11,251 9,328

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 192,559 176,632
Trade creditors 62,827 49,580
Taxation and social security 158,607 119,303
Other creditors 3,145 15,395
417,138 360,910

Falcondale Limited (Registered number: 01393214)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 832,662 938,079
Other creditors 94,153 121,000
926,815 1,059,079

Amounts falling due in more than five years:

Repayable by instalments
Bank loan repayable after more
than five years 317,512 426,344
317,512 426,344

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft 46,059 37,209
Bank loans 979,162 988,458
1,025,221 1,025,667

10. RELATED PARTY DISCLOSURES

At the balance sheet date amounts owed to the directors of the company amounted to £94,153 (2023 £121,000)