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Registration number: 14703528

Falcon NW3 Limited

Annual Report and Unaudited Financial Statements

for the Period from 3 March 2023 to 30 April 2024

 

Falcon NW3 Limited

Company Information

Director

Mrs Samia Islam

Registered office

9 Berners Place
London
W1T 3AD

Accountants

Mehta & Tengra
9 Berners Place
London
W1T 3AD

 

Falcon NW3 Limited

(Registration number: 14703528)
Balance Sheet as at 30 April 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

28,740

Investment property

5

1,084,053

 

1,112,793

Creditors: Amounts falling due within one year

6

(224,539)

Total assets less current liabilities

 

888,254

Creditors: Amounts falling due after more than one year

6

(1,000,000)

Net liabilities

 

(111,746)

Capital and reserves

 

Called up share capital

7

1,000

Retained earnings

(112,746)

Shareholders' deficit

 

(111,746)

For the financial period ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 15 November 2024
 

.........................................
Mrs Samia Islam
Director

 

Falcon NW3 Limited

Statement of Changes in Equity for the Period from 3 March 2023 to 30 April 2024

Share capital
£

Retained earnings
£

Total
£

Loss for the period

-

(112,746)

(112,746)

New share capital subscribed

1,000

-

1,000

At 30 April 2024

1,000

(112,746)

(111,746)

 

Falcon NW3 Limited

Notes to the Unaudited Financial Statements for the Period from 3 March 2023 to 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
9 Berners Place
London
W1T 3AD
United Kingdom

These financial statements were authorised for issue by the director on 15 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixture and fittings

15% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

Falcon NW3 Limited

Notes to the Unaudited Financial Statements for the Period from 3 March 2023 to 30 April 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

 

Falcon NW3 Limited

Notes to the Unaudited Financial Statements for the Period from 3 March 2023 to 30 April 2024

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

Additions

33,812

33,812

At 30 April 2024

33,812

33,812

Depreciation

Charge for the period

5,072

5,072

At 30 April 2024

5,072

5,072

Carrying amount

At 30 April 2024

28,740

28,740

5

Investment properties

2024
£

Additions

1,084,053

At 30 April

1,084,053

In the opinion of the director the valuation of the properties at 30 April 2024 is same as cost.

 

Falcon NW3 Limited

Notes to the Unaudited Financial Statements for the Period from 3 March 2023 to 30 April 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Amounts owed to holding company

9

223,459

Accruals and deferred income

 

1,080

 

224,539

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Loans and borrowings

8

1,000,000

7

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary of £1 each

1,000

1,000

   

8

Loans and borrowings

Non-current loans and borrowings

2024
£

Bank borrowings

1,000,000

The Bank loan is secured by a floating charge which covers the property or undertaking of the company.

9

Related party transactions

Summary of transactions with parent

Falcon Product International Limited
 

Loans from related parties

 

Falcon NW3 Limited

Notes to the Unaudited Financial Statements for the Period from 3 March 2023 to 30 April 2024

2024

Parent
£

Total
£

Advanced

224,459

224,459

At end of period

224,459

224,459

Terms of loans from related parties

Due on demand
 

10

Parent and ultimate parent undertaking

The company's immediate parent is Falcon Products International Limited, incorporated in United Kingdom.

 The ultimate parent is Falcon Group Inc, incorporated in Liberia.