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FALCON CONTRACTS LIMITED

Registered Number
SC574419
(Scotland)

Unaudited Financial Statements for the Year ended
31 March 2024

FALCON CONTRACTS LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

Lee Falconer

Registered Address

Jubilee Cottage Makgill Row
Springfield
Cupar
KY15 5SA

Registered Number

SC574419 (Scotland)
FALCON CONTRACTS LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets336,35848,116
36,35848,116
Current assets
Debtors414,18920,152
Cash at bank and on hand21,2378,679
35,42628,831
Creditors amounts falling due within one year5(31,332)(32,360)
Net current assets (liabilities)4,094(3,529)
Total assets less current liabilities40,45244,587
Creditors amounts falling due after one year6(13,157)(16,725)
Provisions for liabilities(7,126)(9,142)
Net assets20,16918,720
Capital and reserves
Called up share capital1010
Profit and loss account20,15918,710
Shareholders' funds20,16918,720
The financial statements were approved and authorised for issue by the Director on 9 October 2024, and are signed on its behalf by:
Lee Falconer
Director
Registered Company No. SC574419
FALCON CONTRACTS LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
Falcon Contracts Limited is a private company, limited by shares, registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
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 policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Current taxation
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
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.
Tangible fixed assets and depreciation
Fixed assets are stated at cost, being purchase price, less accumulated depreciation.

Reducing balance (%)Straight line (years)
Plant and machinery-4
Fixtures and fittings-4
Vehicles25-
Office Equipment-3
Finance leases and hire purchase contracts
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 April 239,97060,15724638370,756
Additions874---874
Disposals(323)---(323)
At 31 March 2410,52160,15724638371,307
Depreciation and impairment
At 01 April 232,85919,15224638322,640
Charge for year2,21910,252--12,471
On disposals(162)---(162)
At 31 March 244,91629,40424638334,949
Net book value
At 31 March 245,60530,753--36,358
At 31 March 237,11141,005--48,116
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables1,1941,094
Other debtors11,91017,703
Prepayments and accrued income1,0851,355
Total14,18920,152
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables745215
Taxation and social security10,8712,506
Finance lease and HP contracts3,5675,689
Other creditors16,14923,950
Total31,33232,360
6.Creditors: amounts due after one year

2024

2023

££
Other creditors13,15716,725
Total13,15716,725