Registered number
11973757
Falin Trading Ltd
Report and Accounts
31 May 2024
Accountancy 4 Wealth Limited
Accountants and Business Advisors
33 Wolverhampton Road
Cannock
Staffordshire
WS11 1AP
Falin Trading Ltd
Registered number: 11973757
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,441 421
Current assets
Debtors 4 141,074 33,835
Cash at bank and in hand 49,996 99,853
191,070 133,688
Creditors: amounts falling due within one year 5 (42,626) (96,405)
Net current assets 148,444 37,283
Net assets 149,885 37,704
Capital and reserves
Called up share capital 1 1
Profit and loss account 149,884 37,703
Shareholders' funds 149,885 37,704
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 Trading 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.
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
Plant and machinery etc
£
Cost
At 1 June 2023 999
Additions 1,500
At 31 May 2024 2,499
Depreciation
At 1 June 2023 578
Charge for the year 480
At 31 May 2024 1,058
Net book value
At 31 May 2024 1,441
At 31 May 2023 421
4 Debtors 2024 2023
£ £
Trade debtors 38,040 33,835
Amounts owed by group undertakings and undertakings in which the company has a participating interest 100,125 -
Other debtors 2,909 -
141,074 33,835
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 - 67,483
Corporation tax 38,171 24,410
Other creditors 4,455 4,512
42,626 96,405
6 Related party transactions
There are no related party transactions.
7 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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