Falcongrove Limited |
Notes to the Accounts |
for the year ended 31 July 2024 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Income |
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Income is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Income represents the agreed sums collected from tenants for maintenance and upkeep of the common parts of the flats at Beech Court. The amount collected in the year was £1,188 per flat. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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In a letter dated 20 July 2012, the HMRC confirmed that provided certain conditions are met, the company will not need to file a company tax return for a period of 5 years. These conditions are currently been met and HMRC has not requested the company to file a tax return for the current year or the previous year. |
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2 |
Employees |
2024 |
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2023 |
Number |
Number |
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Average number of persons employed by the company |
- |
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- |
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3 |
Debtors |
2024 |
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2023 |
£ |
£ |
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Service charges outstanding |
2,273 |
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1,163 |
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4 |
Creditors: amounts falling due within one year |
2024 |
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2023 |
£ |
£ |
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Service charges prepaid |
1,791 |
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1,653 |
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Creditors |
214 |
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1,309 |
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2,005 |
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2,962 |
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5 |
Other information |
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Falcongrove Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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First Floor |
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1 Edmund Street |
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Bradford |
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West Yorkshire |
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BD5 0BH |
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6 |
Controlling party |
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The day to day running of the business is controlled by the company's managing agents. The |
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agents report to the Board of Directors, who have ultimate control on behalf of the shareholders. |