Registered number
10910496
Falin Investments Ltd
Report and Accounts
31 May 2024
Accountancy 4 Wealth Limited
Accountants and Business Advisors
33 Wolverhampton Road
Cannock
Staffordshire
WS11 1AP
Falin Investments Ltd
Registered number: 10910496
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 558,294 300,000
Current assets
Debtors 4 975 1,240
Cash at bank and in hand 15,444 11,469
16,419 12,709
Creditors: amounts falling due within one year 5 (380,156) (119,700)
Net current liabilities (363,737) (106,991)
Total assets less current liabilities 194,557 193,009
Creditors: amounts falling due after more than one year 6 (178,454) (173,674)
Net assets 16,103 19,335
Capital and reserves
Called up share capital 1 1
Revaluation reserve 7 39,599 39,599
Profit and loss account (23,497) (20,265)
Shareholders' funds 16,103 19,335
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr S Ashgar Ali
Director
Approved by the board on 20 January 2025
Falin Investments Ltd
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings NIL
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 June 2023 300,000
Additions 258,294
At 31 May 2024 558,294
Depreciation
At 31 May 2024 -
Net book value
At 31 May 2024 558,294
At 31 May 2023 300,000
During the year the properties were revalued by the directors to their current value of £300,000.
4 Debtors 2024 2023
£ £
Other debtors 975 1,240
5 Creditors: amounts falling due within one year 2024 2023
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 373,142 112,746
Other creditors 7,014 6,954
380,156 119,700
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 178,454 173,674
7 Revaluation reserve 2024 2023
£ £
At 1 June 2023 39,599 -
Gain on revaluation of land and buildings - 39,599
At 31 May 2024 39,599 39,599
8 Related party transactions
There are no related party transactions.
9 Controlling party
The companies ultimate parent company is Falin Holdings Limited, a company incorporated in Great Britain and registered in England & Wales and under the control of S A Ali and family.
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