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REGISTERED NUMBER: SC165541 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Falcon Coach Hire Limited

Falcon Coach Hire Limited (Registered number: SC165541)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Falcon Coach Hire Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Mr A G Falconer
Mr C J Falconer





REGISTERED OFFICE: Silverburn Crescent
Bridge of Don Industrial Estate
Aberdeen
AB23 8EW





REGISTERED NUMBER: SC165541 (Scotland)





ACCOUNTANTS: SBP
Accountants
42 Queens Road
Aberdeen
AB15 4YE

Falcon Coach Hire Limited (Registered number: SC165541)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 822,314 678,513

CURRENT ASSETS
Debtors 5 257,162 231,965
Cash at bank and in hand 168,014 108,609
425,176 340,574
CREDITORS
Amounts falling due within one year 6 193,200 218,512
NET CURRENT ASSETS 231,976 122,062
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,054,290

800,575

CREDITORS
Amounts falling due after more than one
year

7

(326,583

)

(255,490

)

PROVISIONS FOR LIABILITIES (71,557 ) (30,843 )
NET ASSETS 656,150 514,242

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 656,146 514,238
656,150 514,242

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Falcon Coach Hire Limited (Registered number: SC165541)

Balance Sheet - continued
31 May 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 February 2025 and were signed on its behalf by:





Mr A G Falconer - Director


Falcon Coach Hire Limited (Registered number: SC165541)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Falcon Coach Hire Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 18% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Falcon Coach Hire Limited (Registered number: SC165541)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 56 (2023 - 57 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 June 2023 489,953 45,104 665,090 1,200,147
Additions - 8,346 268,047 276,393
Disposals - (17,214 ) (25,383 ) (42,597 )
At 31 May 2024 489,953 36,236 907,754 1,433,943
DEPRECIATION
At 1 June 2023 19,598 34,418 467,618 521,634
Charge for year 9,799 5,657 115,499 130,955
Eliminated on disposal - (17,170 ) (23,790 ) (40,960 )
At 31 May 2024 29,397 22,905 559,327 611,629
NET BOOK VALUE
At 31 May 2024 460,556 13,331 348,427 822,314
At 31 May 2023 470,355 10,686 197,472 678,513

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 June 2023 73,745
Additions 129,400
At 31 May 2024 203,145
DEPRECIATION
At 1 June 2023 44,111
Charge for year 32,906
At 31 May 2024 77,017
NET BOOK VALUE
At 31 May 2024 126,128
At 31 May 2023 29,634

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors 257,162 231,965

Falcon Coach Hire Limited (Registered number: SC165541)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 14,844 56,373
Hire purchase contracts 33,750 16,135
Trade creditors 78,327 46,164
Taxation and social security 40,829 68,777
Other creditors 25,450 31,063
193,200 218,512

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans 233,134 245,360
Hire purchase contracts 93,449 10,130
326,583 255,490

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 173,757 175,505

8. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 247,978 301,733

Bank borrowings are secured by standard security over Unit 1 Silverburn Crescent, Bridge of Don, Aberdeen, AB23 8EW.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

31.5.24 31.5.23
£    £   
Mr C J Falconer
Balance outstanding at start of year - -
Amounts advanced 432 -
Amounts repaid (418 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 14 -