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REGISTERED NUMBER: 04056323 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

FALCON GLOBAL LIMITED

FALCON GLOBAL LIMITED (REGISTERED NUMBER: 04056323)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FALCON GLOBAL LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: A J Mills
Mrs M M Mills





SECRETARY: Mrs M M Mills





REGISTERED OFFICE: 124 Thorpe Road
Norwich
Norfolk
NR1 1RS





REGISTERED NUMBER: 04056323 (England and Wales)





ACCOUNTANTS: Sexty & Co
Chartered Certified Accountants
124 Thorpe Road
Norwich
Norfolk
NR1 1RS

FALCON GLOBAL LIMITED (REGISTERED NUMBER: 04056323)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 203,390 47,939
Tangible assets 5 2,199 -
205,589 47,939

CURRENT ASSETS
Debtors 6 100,811 112,251
Cash at bank 18,757 38
119,568 112,289
CREDITORS
Amounts falling due within one year 7 76,651 67,493
NET CURRENT ASSETS 42,917 44,796
TOTAL ASSETS LESS CURRENT
LIABILITIES

248,506

92,735

CREDITORS
Amounts falling due after more than one
year

8

19,431

31,097
NET ASSETS 229,075 61,638

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 228,975 61,538
229,075 61,638

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

FALCON GLOBAL LIMITED (REGISTERED NUMBER: 04056323)

BALANCE SHEET - continued
31 December 2023


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 19 September 2024 and were signed on its behalf by:





A J Mills - Director


FALCON GLOBAL LIMITED (REGISTERED NUMBER: 04056323)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Falcon Global 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.

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.

Patents and licences are being amortised evenly over their estimated useful life of 5 years.

Development costs are being amortised evenly over their estimated useful life of 5 years.

Patents and licenses
Expenditure on patents, licences etc is written off in the profit and loss account over the period from which the company is expected to benefit.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost

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.

FALCON GLOBAL LIMITED (REGISTERED NUMBER: 04056323)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Research and development
Expenditure on research and development is written off in the year in which it is incurred, except development expenditure incurred on individual projects. Development expenditure is written off in the same year unless the director are satisfied as to the technical, commercial and financial viability of the individual projects. In the situation the expenditure is deferred and amortised over the period from which the company is expected to benefit. This is presently assessed to be 4 years from the date in which the expenditure is incurred.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - NIL ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 2,855,187
Additions 202,701
At 31 December 2023 3,057,888
AMORTISATION
At 1 January 2023 2,807,248
Charge for year 47,250
At 31 December 2023 2,854,498
NET BOOK VALUE
At 31 December 2023 203,390
At 31 December 2022 47,939

FALCON GLOBAL LIMITED (REGISTERED NUMBER: 04056323)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 2,932
At 31 December 2023 2,932
DEPRECIATION
Charge for year 733
At 31 December 2023 733
NET BOOK VALUE
At 31 December 2023 2,199

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 84,277 59,311
Other debtors 16,534 52,940
100,811 112,251

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,379
Trade creditors 32,198 2,495
Taxation and social security - 20,425
Other creditors 34,453 34,194
76,651 67,493

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 19,431 31,097

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft - 379

The bank overdraft is secured by the personal guarantee of the director, A J Mills, and a Debenture over the debtors of the company.

FALCON GLOBAL LIMITED (REGISTERED NUMBER: 04056323)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

10. ULTIMATE CONTROLLING PARTY

The company is under the control of A J Mills and Mrs M M Mills, directors of the company, who between them own the entire issued share capital of the company.