Registered number: 13136427
FALCO KINGSBRIDGE LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
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FALCO KINGSBRIDGE LIMITED
REGISTERED NUMBER:13136427
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BALANCE SHEET
AS AT 31 JANUARY 2024
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Debtors: amounts falling due after more than one year
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Net current (liabilities)/assets
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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FALCO KINGSBRIDGE LIMITED
REGISTERED NUMBER:13136427
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BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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FALCO KINGSBRIDGE LIMITED
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STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2024
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At 1 February 2022 (as previously stated)
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Prior year adjustment - correction of error
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At 1 February 2022 (as restated)
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Transfer to/from profit and loss account
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FALCO KINGSBRIDGE LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
Falco Kingsbridge Limited is a private limited company, registered in England and Wales. Its registered office is Millhouse, 32-38 East Street, Rochford, Essex, SS4 1DB.
The principal activity of the company continued to be that of the investment in a project for the acquisition of land and development of residential properties.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The following principal accounting policies have been applied:
The financial statements have been prepared on a basis other than going concern on account of the net liabilities and the company ceasing to trade post year end.
Turnover comprises interest receivable on amounts loaned to group undertakings.
Interest income is recognised in profit or loss using the effective interest method.
Investments in subsidiaries are measured at cost less accumulated impairment.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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FALCO KINGSBRIDGE LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
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The average monthly number of employees, including directors, during the year was 2 (2023 - 2).
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Investments in subsidiary companies
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FALCO KINGSBRIDGE LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
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Due after more than one year
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Amounts owed by group undertakings
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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FALCO KINGSBRIDGE LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
Share premium account
The share premium reserve represents the amount above the nominal value received for shares sold, less transaction costs.
Other reserves
The company has shares issued at a premium and a loan from each of the shareholders. The loan did not have any interest attached to it and in accordance with FRS102 the loan has been discounted to present value. The difference between the amount received and the present value has been recognised as a capital contribution in other reserves. The reserves in respect of the capital contribution are not distributable. An annual transfer to the profit and loss account for the amount that has been realised is made at each year end.
Profit and loss account
The profit and loss reserve comprises the cumulative retained profit and losses. All reserves in respect of profit and loss are distributable.
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