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Registration number: 10467380

Falcon Warren Street Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Falcon Warren Street Ltd

Company Information

Director

Mrs Samia Islam

Registered office

9 Berners Place
London
W1T 3AD

Accountants

Mehta & Tengra
9 Berners Place
London
W1T 3AD

 

Falcon Warren Street Ltd

(Registration number: 10467380)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

3,664

4,311

Investment property

6

2,090,614

2,090,614

 

2,094,278

2,094,925

Creditors: Amounts falling due within one year

7

(1,795,449)

(1,867,192)

Total assets less current liabilities

 

298,829

227,733

Provisions for liabilities

(916)

(1,078)

Net assets

 

297,913

226,655

Capital and reserves

 

Called up share capital

8

1,000

1,000

Retained earnings

296,913

225,655

Shareholders' funds

 

297,913

226,655

For the financial year 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 year 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 3 January 2025
 

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

 

Falcon Warren Street Ltd

Statement of Changes in Equity for the Year Ended 30 April 2024

Share capital
£

Retained earnings
£

Total
£

At 1 May 2023

1,000

225,655

226,655

Profit for the year

-

71,258

71,258

At 30 April 2024

1,000

296,913

297,913

Share capital
£

Retained earnings
£

Total
£

At 1 May 2022

1,000

148,790

149,790

Profit for the year

-

76,865

76,865

At 30 April 2023

1,000

225,655

226,655

 

Falcon Warren Street Ltd

Notes to the Unaudited Financial Statements for the Year Ended 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 3 January 2025.

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.

Revenue recognition

Turnover represents rents receiveable from properties.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Falcon Warren Street Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

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.

 

Falcon Warren Street Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 1).

4

Taxation

Tax charged/(credited) in the profit and loss account

2024
£

2023
£

Current taxation

UK corporation tax

23,915

18,447

Deferred taxation

Arising from changes in tax rates and laws

(162)

(124)

Tax expense in the income statement

23,753

18,323

Deferred tax

 

Falcon Warren Street Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 May 2023

7,530

7,530

At 30 April 2024

7,530

7,530

Depreciation

At 1 May 2023

3,219

3,219

Charge for the year

647

647

At 30 April 2024

3,866

3,866

Carrying amount

At 30 April 2024

3,664

3,664

At 30 April 2023

4,311

4,311

6

Investment properties

2024
£

At 1 May

2,090,614

At 30 April

2,090,614

In the opinion of the director the valuation of the properties at 30 April 2023 is same as cost.

 

Falcon Warren Street Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Amounts owed to parent company

9

1,717,988

1,786,519

Corporation tax

 

43,147

28,430

Accruals and deferred income

 

2,064

2,843

Other creditors

 

32,250

49,400

 

1,795,449

1,867,192

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000

         

9

Related party transactions

Summary of transactions with parent

Falcon Products International Limited
 

Loans to related parties

2024

Parent
£

Total
£

At start of period

(1,786,519)

(1,786,519)

Advanced

117,326

117,326

Repaid

(48,795)

(48,795)

At end of period

(1,717,988)

(1,717,988)

2023

Parent
£

Total
£

At start of period

(1,417,026)

(1,417,026)

Advanced

170,857

170,857

Repaid

(540,350)

(540,350)

At end of period

(1,786,519)

(1,786,519)

Terms of loans to related parties

 

Falcon Warren Street Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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.