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Company Registration No. 02466419 (England and Wales)
Falconway Limited Unaudited accounts for the year ended 31 January 2024
Falconway Limited Unaudited accounts Contents
Page
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Falconway Limited Company Information for the year ended 31 January 2024
Directors
Farid Motamed Richard Turner
Company Number
02466419 (England and Wales)
Registered Office
THE OLD VYNE WEST HEATH BAUGHURST TADLEY HAMPSHIRE RG26 5LE
Accountants
Black & White Chartered Certified Accountants 2-3 Stable Court Herriard Park Herriard Hampshire RG25 2PL
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Falconway Limited Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
117 
156 
Investment property
1,222,802 
1,215,400 
Investments
813,056 
814,942 
2,035,975 
2,030,498 
Current assets
Debtors
29,007 
- 
Cash at bank and in hand
16,219 
32,240 
45,226 
32,240 
Creditors: amounts falling due within one year
(701,605)
(706,008)
Net current liabilities
(656,379)
(673,768)
Total assets less current liabilities
1,379,596 
1,356,730 
Creditors: amounts falling due after more than one year
(260,998)
(260,000)
Provisions for liabilities
Deferred tax
(46,820)
(45,414)
Net assets
1,071,778 
1,051,316 
Capital and reserves
Called up share capital
155,000 
155,000 
Revaluation reserve
321,037 
315,041 
Profit and loss account
595,741 
581,275 
Shareholders' funds
1,071,778 
1,051,316 
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2024 and were signed on its behalf by
Farid Motamed Director Company Registration No. 02466419
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Falconway Limited Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Falconway Limited is a private company, limited by shares, registered in England and Wales, registration number 02466419. The registered office is THE OLD VYNE WEST HEATH, BAUGHURST, TADLEY, HAMPSHIRE, RG26 5LE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Reducing Balance
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Investments
Investments in shares are included at fair value.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Falconway Limited Notes to the Accounts for the year ended 31 January 2024
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 February 2023
28,041 
At 31 January 2024
28,041 
Depreciation
At 1 February 2023
27,885 
Charge for the year
39 
At 31 January 2024
27,924 
Net book value
At 31 January 2024
117 
At 31 January 2023
156 
5
Investment property
2024 
£ 
Fair value at 1 February 2023
1,215,400 
Net gain from fair value adjustments
7,402 
At 31 January 2024
1,222,802 
Investment property is included at fair value. Gains are recognised in the income statement. Deferred tax is provided on these gains at the rate expected to apply when the properties are sold.
6
Investments
Other investments 
£ 
Valuation at 1 February 2023
814,942 
Fair value adjustments
(1,886)
Valuation at 31 January 2024
813,056 
The company holds 26% of the issued Ordinary Share Capital to the value of £30,428 (2018 : £30,428) in Lodage Properties Limited, a company incorporated in England and Wales
7
Debtors
2024 
2023 
£ 
£ 
Amounts falling due after more than one year
Accrued income and prepayments
29,007 
- 
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Falconway Limited Notes to the Accounts for the year ended 31 January 2024
8
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
33,974 
59,004 
Taxes and social security
- 
43,328 
Other creditors
533,771 
524,383 
Loans from directors
132,840 
77,993 
Accruals
1,020 
1,300 
701,605 
706,008 
The bank overdraft and mortgage is secured by a standard bank debenture, on the associated freehold property.
9
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Other creditors
260,998 
260,000 
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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