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Registered number: 14864625
Falloon Properties Limited
Unaudited Financial Statements
For the Period 12 May 2023 to 31 May 2024
Calculated Ltd
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 14864625
31 May 2024
Notes £ £
FIXED ASSETS
Investment Properties 4 169,226
169,226
CURRENT ASSETS
Cash at bank and in hand 36,573
36,573
Creditors: Amounts Falling Due Within One Year 5 (49,435 )
NET CURRENT ASSETS (LIABILITIES) (12,862 )
TOTAL ASSETS LESS CURRENT LIABILITIES 156,364
Creditors: Amounts Falling Due After More Than One Year 6 (164,098 )
NET LIABILITIES (7,734 )
CAPITAL AND RESERVES
Called up share capital 7 100
Profit and Loss Account (7,834 )
SHAREHOLDERS' FUNDS (7,734)
For the period ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Gareth Falloon
Director
01/05/2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Falloon Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14864625 . The registered office is 14c Queensway House, Queensway, Middlesbrough, TS3 8TF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 1
1
4. Investment Property
31 May 2024
£
Fair Value
As at 12 May 2023 -
Additions 169,226
As at 31 May 2024 169,226
5. Creditors: Amounts Falling Due Within One Year
31 May 2024
£
Other creditors 49,435
6. Creditors: Amounts Falling Due After More Than One Year
31 May 2024
£
Bank loans 164,098
7. Share Capital
31 May 2024
£
Allotted, Called up and fully paid 100
Page 2
Page 3
8. Related Party Transactions
Directors & shareholders
Gareth Falloon
The directors and sharehodlers have provided the company with unsecured loans . The combined balance of the loans provided at the year end was £49435.16. There is no interest charged on the loan and this is repayable on demand.
9. Ultimate Controlling Party
The company's ultimate controlling party is Gareth Falloon by virtue of his ownership of 100% of the issued share capital in the company.
Page 3