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REGISTERED NUMBER: 09726506 (England and Wales)















FALCON FLUES LTD

Unaudited Financial Statements

for the Year Ended 30 September 2024






FALCON FLUES LTD (REGISTERED NUMBER: 09726506)

Contents of the Financial Statements
for the year ended 30 September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FALCON FLUES LTD

Company Information
for the year ended 30 September 2024







Directors: M T Dearie
C A Lewis Dearie





Registered office: Unit 2 Hambridge Lane
Newbury
Berkshire
RG14 5TU





Registered number: 09726506 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

FALCON FLUES LTD (REGISTERED NUMBER: 09726506)

Balance Sheet
30 September 2024

2024 2023
Notes £ £ £
Fixed assets
Intangible assets 4 36,702 76,698
Tangible assets 5 3,389 54,496
40,091 131,194

Current assets
Stocks 16,315 41,460
Debtors 6 332,264 1,601,742
Cash in hand 344,034 1,331,376
692,613 2,974,578
Creditors
Amounts falling due within one year 7 302,468 1,750,029
Net current assets 390,145 1,224,549
Total assets less current liabilities 430,236 1,355,743

Creditors
Amounts falling due after more than one
year

8

(7,500

)

(18,441

)

Provisions for liabilities - (11,537 )
Net assets 422,736 1,325,765

Capital and reserves
Called up share capital 10 130 130
Share premium 11 29,550 29,550
Retained earnings 11 393,056 1,296,085
Shareholders' funds 422,736 1,325,765

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 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 FLUES LTD (REGISTERED NUMBER: 09726506)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 May 2025 and were signed on its behalf by:





M T Dearie - Director


FALCON FLUES LTD (REGISTERED NUMBER: 09726506)

Notes to the Financial Statements
for the year ended 30 September 2024


1. Statutory information

Falcon Flues Ltd 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 the provision of Section 102 1A "Small Entities of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and republic of Ireland" and the Companies Act 2006. The financial statements have been prepared on a going concern basis, under the historical cost convention.

The financial statements are prepared in sterling which is the functional currency of the company and rounded to the nearest pound.

Going concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.

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

Turnover represents amounts receivable for goods and services provided in the year relating to chimney and exhaust design and installation services throughout the UK and is stated net of VAT.

Goodwill
Goodwill is the difference between amounts paid on the acquisition of the business and the fair value of the identifiable assets and liabilities. It is amortised to the income statement over its estimated economic life of 10 years.

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.
Plant and machinery - at varying rates on cost
Motor vehicles - 15% on reducing balance
Computer equipment - at varying rates on cost

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

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts are capitalised as tangible fixed assets and are depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals under operating leases are charged to the profit and loss account on a straight line basis over the lease term.

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 FLUES LTD (REGISTERED NUMBER: 09726506)

Notes to the Financial Statements - continued
for the year ended 30 September 2024


2. Accounting policies - continued

Key sources of estimation uncertainty and judgements
Preparation of the financial statements requires management to make significant judgements and estimates in determining the carrying amounts of certain assets and liabilities. Management makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The management's estimates and assumptions are based on historical experience and expectation of future events and are reviewed periodically. This disclosure excludes uncertainty over future events and judgement in respect of measuring financial instruments. There are no further significant judgements or estimates.

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

3. Employees and directors

The average number of employees during the year was 11 (2023 - 20 ) .

4. Intangible fixed assets
Goodwill
£
Cost
At 1 October 2023
and 30 September 2024 400,000
Amortisation
At 1 October 2023 323,302
Amortisation for year 39,996
At 30 September 2024 363,298
Net book value
At 30 September 2024 36,702
At 30 September 2023 76,698

FALCON FLUES LTD (REGISTERED NUMBER: 09726506)

Notes to the Financial Statements - continued
for the year ended 30 September 2024


5. Tangible fixed assets
Plant and Motor Computer
machinery vehicles equipment Totals
£ £ £ £
Cost
At 1 October 2023 8,796 63,660 44,922 117,378
Additions 458 - 1,054 1,512
Disposals - (63,660 ) - (63,660 )
At 30 September 2024 9,254 - 45,976 55,230
Depreciation
At 1 October 2023 7,714 16,970 38,198 62,882
Charge for year 1,150 2,380 4,779 8,309
Eliminated on disposal - (19,350 ) - (19,350 )
At 30 September 2024 8,864 - 42,977 51,841
Net book value
At 30 September 2024 390 - 2,999 3,389
At 30 September 2023 1,082 46,690 6,724 54,496

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£
Cost
At 1 October 2023 29,170
Disposals (29,170 )
At 30 September 2024 -
Depreciation
At 1 October 2023 14,263
Eliminated on disposal (14,263 )
At 30 September 2024 -
Net book value
At 30 September 2024 -
At 30 September 2023 14,907

6. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 233,197 734,887
Other debtors 99,067 866,855
332,264 1,601,742

FALCON FLUES LTD (REGISTERED NUMBER: 09726506)

Notes to the Financial Statements - continued
for the year ended 30 September 2024


7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 9) - 7,610
Trade creditors 237,746 587,017
Taxation and social security 30,809 325,234
Other creditors 23,913 820,168
302,468 1,750,029

8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans 7,500 17,500
Hire purchase contracts (see note 9) - 941
7,500 18,441

9. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£ £
Net obligations repayable:
Within one year - 7,610
Between one and five years - 941
- 8,551

Non-cancellable
operating leases
2024 2023
£ £
Within one year 50,631 23,881
Between one and five years 36,947 16,277
87,578 40,158

10. Called up share capital

Allotted, issued and fully paid:
Nominal 2024 2023
Number: Class: value: £    £   
80 Ordinary C £1 80 60
40 Redeemable A Ordinary £1 40 40
10 Ordinary E £1 10 10
130 130



Ordinary C and Ordinary E shares are entitled to full voting and capital distribution rights.Redeemable A Ordinary shares are not entitled to voting and capital distributions or any surplus rights.

FALCON FLUES LTD (REGISTERED NUMBER: 09726506)

Notes to the Financial Statements - continued
for the year ended 30 September 2024


11. Reserves
Retained Share
earnings premium Totals
£ £ £

At 1 October 2023 1,296,085 29,550 1,325,635
Deficit for the year (16,029 ) (16,029 )
Dividends (887,000 ) (887,000 )
At 30 September 2024 393,056 29,550 422,606

12. Related party disclosures

Dividends of £137,000 (2023: £117,000) were paid to the director in the year. During the year, dividends of £750,000 (2023: £750,000) were declared to a connected company, by virtue of common control.

13. Ultimate controlling party

M T Dearie is regarded as the ultimate controlling party by virtue of his shareholding in the company.