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REGISTERED NUMBER: 02920899 (England and Wales)














FALCON INTERNATIONAL BAGS LIMITED

Unaudited Financial Statements

for the Year Ended 30 September 2024






FALCON INTERNATIONAL BAGS LIMITED (REGISTERED NUMBER: 02920899)

Contents of the Financial Statements
for the Year Ended 30 September 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


FALCON INTERNATIONAL BAGS LIMITED

Company Information
for the Year Ended 30 September 2024







Director: Ms A B Chauhan





Registered office: Artisans' House
7 Queensbridge
Northampton
Northamptonshire
NN4 7BF





Registered number: 02920899 (England and Wales)





Accountants: Cobley Desborough
Chartered Certified Accountants
Chartered Tax Advisers
Artisans' House
7 Queensbridge
Northampton
Northamptonshire
NN4 7BF

FALCON INTERNATIONAL BAGS LIMITED (REGISTERED NUMBER: 02920899)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 2,214
Tangible assets 5 - 404
- 2,618

CURRENT ASSETS
Stocks - 129,949
Debtors 6 56,010 173,994
Cash at bank and in hand 699 48,810
56,709 352,753
CREDITORS
Amounts falling due within one year 7 54,828 189,848
NET CURRENT ASSETS 1,881 162,905
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,881

165,523

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,781 165,423
SHAREHOLDERS' FUNDS 1,881 165,523

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 INTERNATIONAL BAGS LIMITED (REGISTERED NUMBER: 02920899)

Balance Sheet - continued
30 September 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 director and authorised for issue on 19 March 2025 and were signed by:





Ms A B Chauhan - Director


FALCON INTERNATIONAL BAGS LIMITED (REGISTERED NUMBER: 02920899)

Notes to the Financial Statements
for the Year Ended 30 September 2024


1. STATUTORY INFORMATION

Falcon International Bags Limited is a private company, limited by shares , registered in England and Wales. 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

FALCON INTERNATIONAL BAGS LIMITED (REGISTERED NUMBER: 02920899)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


2. ACCOUNTING POLICIES - continued

Going concern
The current economic conditions present increased risks for all businesses. In response to such conditions, the director has carefully considered these risks, including an assessment of uncertainty on future trading projections for a period of at least twelve months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.

Based on this assessment, the director considers that the Company maintains an appropriate level of liquidity, sufficient to meet the demands of the business including any capital and servicing obligations of external liabilities.

In addition, the Company's assets are assessed for recoverability on a regular basis, and the director considers that the Company is not exposed to losses of these assets which would affect their decision to adopt the going concern basis.

The director is therefore satisfied and has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubt upon the Company's ability to continue as a going concern. Theses financial statements have therefore been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
Cost
At 1 October 2023
and 30 September 2024 7,349
Amortisation
At 1 October 2023 5,135
Charge for year 735
Eliminated on disposal 1,479
At 30 September 2024 7,349
Net book value
At 30 September 2024 -
At 30 September 2023 2,214

FALCON INTERNATIONAL BAGS LIMITED (REGISTERED NUMBER: 02920899)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
Cost
At 1 October 2023
and 30 September 2024 33,998
Depreciation
At 1 October 2023 33,594
Charge for year 404
At 30 September 2024 33,998
Net book value
At 30 September 2024 -
At 30 September 2023 404

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 50,181 60,874
Owed by connected companies - 2,692
Other debtors 5,829 110,428
56,010 173,994

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 20,833 30,833
Trade creditors 32,753 30,326
Taxation and social security (512 ) 7,278
Other creditors 1,754 121,411
54,828 189,848