Falcon Pools Trustee Company Limited
Unaudited Financial Statements
For the period ended 30 September 2024
Pages for Filing with Registrar
Company Registration No. 15001623 (England and Wales)
Falcon Pools Trustee Company Limited
Contents
Page
Balance sheet
3
Notes to the financial statements
4 - 6
Falcon Pools Trustee Company Limited
Directors' Responsibilities Statement
For the period ended 30 September 2024
Page 1

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Falcon Pools Trustee Company Limited
Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Falcon Pools Trustee Company Limited for the Period ended 30 September 2024
Page 2

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Falcon Pools Trustee Company Limited for the Period ended 30 September 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation

This report is made solely to the Board of Directors of Falcon Pools Trustee Company Limited, as a body, in accordance with the terms of our engagement letter dated 09 November 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Falcon Pools Trustee Company Limited and state those matters that we have agreed to state to the Board of Directors of Falcon Pools Trustee Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Falcon Pools Trustee Company Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Falcon Pools Trustee Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and result of Falcon Pools Trustee Company Limited. You consider that Falcon Pools Trustee Company Limited is exempt from the statutory audit requirement for the Period.

We have not been instructed to carry out an audit or a review of the financial statements of Falcon Pools Trustee Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

10 April 2025
Moore Kingston Smith LLP
Chartered Accountants
The Shipping Building
The Old Vinyl Factory
Blyth Road
Hayes
London
UB3 1HA
Falcon Pools Trustee Company Limited
Balance Sheet
As at 30 September 2024
30 September 2024
Page 3
2024
Notes
£
£
Fixed assets
Investments
3
1
Current assets
Cash at bank and in hand
100
Creditors: amounts falling due within one year
4
(100)
Net current assets
-
0
Net assets
1
Capital and reserves
-
Called up share capital
5
1

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial Period ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 10 April 2025 and are signed on its behalf by:
Mr I  Storr
Director
Company Registration No. 15001623
Falcon Pools Trustee Company Limited
Notes to the Financial Statements
For the period ended 30 September 2024
Page 4
1
Accounting policies
Company information

Falcon Pools Trustee Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor, 9 Appold Street, London, EC2A 2AP.

1.1
Reporting period

The financial statements cover the first period from the date of incorporation 13 July 2023 to 30 September 2024.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Falcon Pools Trustee Company Limited
Notes to the Financial Statements (Continued)
For the period ended 30 September 2024
1
Accounting policies
(Continued)
Page 5
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Falcon Pools Trustee Company Limited
Notes to the Financial Statements (Continued)
For the period ended 30 September 2024
Page 6
2
Employees

The average monthly number of persons (including directors) employed by the company during the Period was:

2024
Number
Total
0
3
Fixed asset investments
2024
£
Shares in group undertakings and participating interests
1
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 13 July 2023
-
Additions
1
At 30 September 2024
1
Carrying amount
At 30 September 2024
1
4
Creditors: amounts falling due within one year
2024
£
Amounts owed to group undertakings
100
5
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
Ordinary shares of £1 each
1
1
6
Related party transactions

The company has taken the exemption to not disclose related party transactions with companies under the same control in accordance with FRS 102 - Section 33 "Related Party Disclosures".

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