REGISTERED NUMBER: |
FALCON VC LIMITED |
REPORT OF THE DIRECTORS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
5 JANUARY 2023 TO 31 JANUARY 2024 |
REGISTERED NUMBER: |
FALCON VC LIMITED |
REPORT OF THE DIRECTORS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
5 JANUARY 2023 TO 31 JANUARY 2024 |
FALCON VC LIMITED (REGISTERED NUMBER: 14572745) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 5 JANUARY 2023 TO 31 JANUARY 2024 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Statement of Income and Retained Earnings | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 5 |
FALCON VC LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 5 JANUARY 2023 TO 31 JANUARY 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Clarke Nicklin House |
Brooks Drive |
Cheadle Royal Business Park |
Cheadle |
Cheshire |
SK8 3TD |
FALCON VC LIMITED (REGISTERED NUMBER: 14572745) |
REPORT OF THE DIRECTORS |
FOR THE PERIOD 5 JANUARY 2023 TO 31 JANUARY 2024 |
The directors present their report with the financial statements of the company for the period 5 January 2023 to 31 January 2024. |
INCORPORATION |
The company was incorporated on 5 January 2023 . |
DIRECTORS |
The directors who have held office during the period from 5 January 2023 to the date of this report are as follows: |
Both the directors who are eligible offer themselves for election at the forthcoming first Annual General Meeting. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
FALCON VC LIMITED (REGISTERED NUMBER: 14572745) |
STATEMENT OF INCOME AND RETAINED EARNINGS |
FOR THE PERIOD 5 JANUARY 2023 TO 31 JANUARY 2024 |
£ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
OPERATING LOSS | ( |
) |
Interest receivable and similar income |
(20,431 | ) |
Interest payable and similar expenses |
LOSS BEFORE TAXATION | ( |
) |
Tax on loss |
LOSS FOR THE FINANCIAL PERIOD | ( |
) |
RETAINED EARNINGS AT END OF PERIOD |
( |
) |
FALCON VC LIMITED (REGISTERED NUMBER: 14572745) |
BALANCE SHEET |
31 JANUARY 2024 |
Notes | £ |
CURRENT ASSETS |
Stocks | 4 |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET LIABILITIES | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
FALCON VC LIMITED (REGISTERED NUMBER: 14572745) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 5 JANUARY 2023 TO 31 JANUARY 2024 |
1. | STATUTORY INFORMATION |
Falcon VC Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are presented in Sterling (£). |
Going concern |
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have reached this conclusion giving due consideration to the projected future performance of the company and any potential risk that might impact the company's ability to meet its required solvency levels. For this reason, they continue to adopt the going concern basis in preparing the financial statements. |
Significant judgements and estimates |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if revision only affects that period, or in the period of the revision and future periods if the revision affects both current and future |
periods. |
There are no judgements considered to have had a significant effect on amounts recognised in the financial statements. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes for the rendering of services. |
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 period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
FALCON VC LIMITED (REGISTERED NUMBER: 14572745) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 5 JANUARY 2023 TO 31 JANUARY 2024 |
2. | ACCOUNTING POLICIES - continued |
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 period 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. |
Trade and other debtors |
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the trade debtors and other debtors are stated at cost less impairment losses for bad and doubtful debts. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | STOCKS |
£ |
Stocks |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
VAT |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Bank loans and overdrafts |
Amounts owed to group undertakings |
Directors' current accounts | 22,720 |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
FALCON VC LIMITED (REGISTERED NUMBER: 14572745) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 5 JANUARY 2023 TO 31 JANUARY 2024 |
8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the period ended 31 January 2024: |
£ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - |
Amounts waived | - |
Balance outstanding at end of period |