19 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 3,150 3,150 105 105 3,045 xbrli:pure xbrli:shares iso4217:GBP 13831994 2023-01-01 2023-12-31 13831994 2023-12-31 13831994 2022-12-31 13831994 2022-01-06 2022-12-31 13831994 2022-12-31 13831994 2022-01-05 13831994 core:FurnitureFittings 2023-01-01 2023-12-31 13831994 core:MotorVehicles 2023-01-01 2023-12-31 13831994 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 13831994 bus:Director3 2023-01-01 2023-12-31 13831994 core:WithinOneYear 2023-12-31 13831994 core:WithinOneYear 2022-12-31 13831994 core:FurnitureFittings 2023-12-31 13831994 core:MotorVehicles 2023-12-31 13831994 core:ShareCapital 2023-12-31 13831994 core:ShareCapital 2022-12-31 13831994 core:RetainedEarningsAccumulatedLosses 2023-12-31 13831994 core:RetainedEarningsAccumulatedLosses 2022-12-31 13831994 bus:Director3 2022-12-31 13831994 bus:Director3 2023-12-31 13831994 bus:Director3 2022-12-31 13831994 bus:Director3 2022-01-06 2022-12-31 13831994 bus:SmallEntities 2023-01-01 2023-12-31 13831994 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 13831994 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 13831994 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13831994 bus:FullAccounts 2023-01-01 2023-12-31 13831994 bus:OrdinaryShareClass1 2023-12-31 13831994 bus:OrdinaryShareClass1 2022-12-31 13831994 core:ComputerSoftware 2023-01-01 2023-12-31 13831994 core:ComputerEquipment 2023-01-01 2023-12-31 13831994 core:ComputerSoftware 2023-12-31 13831994 core:ComputerEquipment 2022-12-31 13831994 core:ComputerEquipment 2023-12-31
COMPANY REGISTRATION NUMBER: 13831994
Falcon House (ECHO) Limited
Filleted Unaudited Financial Statements
31 December 2023
Falcon House (ECHO) Limited
Balance Sheet
31 December 2023
2023
2022
Note
£
£
Fixed assets
Intangible assets
5
3,045
Tangible assets
6
33,741
10,909
--------
--------
36,786
10,909
Current assets
Debtors
7
123,586
4,741
Cash at bank and in hand
170,589
77,076
---------
--------
294,175
81,817
Creditors: amounts falling due within one year
8
( 337,628)
( 103,933)
---------
---------
Net current liabilities
( 43,453)
( 22,116)
--------
--------
Total assets less current liabilities
( 6,667)
( 11,207)
-------
--------
Net liabilities
( 6,667)
( 11,207)
-------
--------
Capital and reserves
Called up share capital
9
2
2
Profit and loss account
( 6,669)
( 11,209)
-------
--------
Shareholders deficit
( 6,667)
( 11,207)
-------
--------
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 profit and loss account has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Falcon House (ECHO) Limited
Balance Sheet (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 25 September 2024 , and are signed on behalf of the board by:
Mr A J Shelton-Murray
Director
Company registration number: 13831994
Falcon House (ECHO) Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Seddon Building, Plodder Lane, Edge Fold, Bolton, BL4 0NN.
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 under the historical cost convention unless otherwise specified within these accounting policies and in accordance with the Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.The preparation of the financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies. The following principal accounting policies have been applied:
Going concern
These financial statements have been prepared on a going concern basis, notwithstanding the deficiency on net assets, because of an undertaking from the shareholders to provide or procure sufficient funds to enable the Company to remain in operational existence for the foreseeable future.
Judgements and key sources of estimation uncertainty
The Company' s fixed assets have been reviewed by the directors to assess whether future profits being generated using those assets supports their carrying value in the balance sheet. Where this is not the case appropriate impairments are made. No such impairments have been made in the year. Apart from the above, management consider there to be no other items in the financial statements where they have had to make significant judgements in the process of applying the Company's accounting policies or key sources of estimation uncertainty .
Revenue recognition
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. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit or loss except that a charge attributable to an item of income and expenditure 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. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that: -The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;and -Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair value of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Computer software
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible 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
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:
Fixtures and fittings
-
20% reducing balance
Motor vehicles
-
25% straight line
Office equipment
-
25% reducing balance
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 the Statement of comprehensive income .
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Defined contribution plans
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in the profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
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.
Creditors
Short term trade 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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 19 (2022: 2 ).
5. Intangible assets
Computer Software
£
Cost
Additions
3,150
-------
At 31 December 2023
3,150
-------
Amortisation
Charge for the year
105
-------
At 31 December 2023
105
-------
Carrying amount
At 31 December 2023
3,045
-------
At 31 December 2022
-------
6. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 January 2023
10,909
10,909
Additions
5,420
16,068
8,562
30,050
-------
--------
--------
--------
At 31 December 2023
5,420
16,068
19,471
40,959
-------
--------
--------
--------
Depreciation
At 1 January 2023
Charge for the year
475
2,678
4,065
7,218
-------
--------
--------
--------
At 31 December 2023
475
2,678
4,065
7,218
-------
--------
--------
--------
Carrying amount
At 31 December 2023
4,945
13,390
15,406
33,741
-------
--------
--------
--------
At 31 December 2022
10,909
10,909
-------
--------
--------
--------
7. Debtors
2023
2022
£
£
Trade debtors
101,365
Deferred tax asset
2,086
4,741
Other debtors
20,135
---------
-------
123,586
4,741
---------
-------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,113
Accruals and deferred income
5,042
1,199
Social security and other taxes
26,951
2,477
Director loan accounts
300,000
100,000
Other creditors
4,522
257
---------
---------
337,628
103,933
---------
---------
9. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
2
2
2
2
----
----
----
----
10. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr A J Shelton-Murray
( 100,000)
( 200,000)
( 300,000)
---------
---------
---------
2022
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr A J Shelton-Murray
( 100,000)
( 100,000)
----
---------
---------