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No description of principal activity
2023-07-01
Sage Accounts Production Advanced 2023 - FRS102_2023
6,561
6,264
297
6,561
297
735,000
735,000
735,000
xbrli:pure
xbrli:shares
iso4217:GBP
11024497
2023-07-01
2024-06-30
11024497
2024-06-30
11024497
2023-06-30
11024497
2022-07-01
2023-06-30
11024497
2023-06-30
11024497
2022-06-30
11024497
bus:Director2
2023-07-01
2024-06-30
11024497
core:WithinOneYear
2024-06-30
11024497
core:WithinOneYear
2023-06-30
11024497
core:ShareCapital
2024-06-30
11024497
core:ShareCapital
2023-06-30
11024497
core:RetainedEarningsAccumulatedLosses
2024-06-30
11024497
core:RetainedEarningsAccumulatedLosses
2023-06-30
11024497
core:CostValuation
core:Non-currentFinancialInstruments
2024-06-30
11024497
core:Non-currentFinancialInstruments
2024-06-30
11024497
core:Non-currentFinancialInstruments
2023-06-30
11024497
bus:SmallEntities
2023-07-01
2024-06-30
11024497
bus:AuditExemptWithAccountantsReport
2023-07-01
2024-06-30
11024497
bus:SmallCompaniesRegimeForAccounts
2023-07-01
2024-06-30
11024497
bus:PrivateLimitedCompanyLtd
2023-07-01
2024-06-30
11024497
bus:FullAccounts
2023-07-01
2024-06-30
11024497
core:FurnitureFittingsToolsEquipment
2023-07-01
2024-06-30
11024497
core:FurnitureFittingsToolsEquipment
2024-06-30
11024497
core:FurnitureFittingsToolsEquipment
2023-06-30
COMPANY REGISTRATION NUMBER:
11024497
FALKINDER INVESTMENTS LTD |
|
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
FALKINDER INVESTMENTS LTD |
|
STATEMENT OF FINANCIAL POSITION |
|
30 June 2024
Fixed assets
Tangible assets |
5 |
– |
297 |
Investments |
6 |
735,000 |
735,000 |
|
---------- |
---------- |
|
735,000 |
735,297 |
|
|
|
|
Current assets
Debtors |
7 |
9,752 |
9,752 |
Cash at bank and in hand |
2,064 |
667 |
|
--------- |
--------- |
|
11,816 |
10,419 |
|
|
|
|
Creditors: amounts falling due within one year |
8 |
(
309,570) |
(
347,878) |
|
---------- |
---------- |
Net current liabilities |
(
297,754) |
(
337,459) |
|
---------- |
---------- |
Total assets less current liabilities |
437,246 |
397,838 |
|
|
|
|
Provisions |
(
106,743) |
(
104,921) |
|
---------- |
---------- |
Net assets |
330,503 |
292,917 |
|
---------- |
---------- |
|
|
|
Capital and reserves
Called up share capital |
2 |
2 |
Profit and loss account |
330,501 |
292,915 |
|
---------- |
---------- |
Shareholders funds |
330,503 |
292,917 |
|
---------- |
---------- |
|
|
|
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 statement of income and retained earnings has not been delivered.
For the year ending 30 June 2024 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
.
FALKINDER INVESTMENTS LTD |
|
STATEMENT OF FINANCIAL POSITION (continued) |
|
30 June 2024
These financial statements were approved by the
board of directors
and authorised for issue on
15 October 2024
, and are signed on behalf of the board by:
Company registration number:
11024497
FALKINDER INVESTMENTS LTD |
|
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 30 JUNE 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Windsor House, A1 Business Park at, Long Bennington, Newark, NG23 5JR.
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 on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
In the application of the Company's accounting policies, which are described in note 3, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these 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 the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The only significant judgement and estimate made by the Directors is in relation to investment properties which have been valued by the Directors on a fair value basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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:
|
Equipment |
- |
33% straight line |
|
|
|
|
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2023:
2
).
5.
Tangible assets
|
Equipment |
|
£ |
Cost |
|
At 1 July 2023 and 30 June 2024 |
6,561 |
|
------- |
Depreciation |
|
At 1 July 2023 |
6,264 |
Charge for the year |
297 |
|
------- |
At 30 June 2024 |
6,561 |
|
------- |
Carrying amount |
|
At 30 June 2024 |
– |
|
------- |
At 30 June 2023 |
297 |
|
------- |
|
|
6.
Investments
|
Other investments other than loans |
|
£ |
Cost |
|
At 1 July 2023 and 30 June 2024 |
735,000 |
|
---------- |
Impairment |
|
At 1 July 2023 and 30 June 2024 |
– |
|
---------- |
|
|
Carrying amount |
|
At 30 June 2024 |
735,000 |
|
---------- |
At 30 June 2023 |
735,000 |
|
---------- |
|
|
In accordance with accounting standards investment properties are stated at their fair value. The valuations were performed by a director of the company.
7.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
9,750 |
9,750 |
Other debtors |
2 |
2 |
|
------- |
------- |
|
9,752 |
9,752 |
|
------- |
------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Trade creditors |
36 |
5,251 |
Accruals and deferred income |
9,033 |
9,033 |
Corporation tax |
– |
770 |
Social security and other taxes |
1,529 |
1,652 |
Director loan accounts |
220,972 |
253,172 |
Other creditors |
78,000 |
78,000 |
|
---------- |
---------- |
|
309,570 |
347,878 |
|
---------- |
---------- |
|
|
|
Other creditors represents related party debt of £78,000 (2023 - £78,000). This debt is interest free and there is no fixed repayment date.
9.
Controlling party
The immediate and ultimate parent undertaking is
Falkinder Holdings Limited
. The ultimate controlling parties are the Directors.