| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30 November 2024 |
| for |
| Falcon Security Systems Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30 November 2024 |
| for |
| Falcon Security Systems Limited |
| Falcon Security Systems Limited (Registered number: 04014456) |
| Contents of the Financial Statements |
| for the Year Ended 30 November 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Falcon Security Systems Limited |
| Company Information |
| for the Year Ended 30 November 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 434 Finchley Road |
| London |
| NW2 2HY |
| Falcon Security Systems Limited (Registered number: 04014456) |
| Balance Sheet |
| 30 November 2024 |
| 30.11.24 | 30.11.23 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings | 10 | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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 Security Systems Limited (Registered number: 04014456) |
| Balance Sheet - continued |
| 30 November 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Falcon Security Systems Limited (Registered number: 04014456) |
| Notes to the Financial Statements |
| for the Year Ended 30 November 2024 |
| 1. | STATUTORY INFORMATION |
| Falcon Security Systems Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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. |
| Tangible fixed assets |
| Plant and machinery | - |
| Motor vehicles | - |
| Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
| Stocks |
| Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
| Falcon Security Systems Limited (Registered number: 04014456) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
| Creditors |
| Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
| Leased assets |
| A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 December 2023 |
| Additions |
| At 30 November 2024 |
| DEPRECIATION |
| At 1 December 2023 |
| Charge for year |
| At 30 November 2024 |
| NET BOOK VALUE |
| At 30 November 2024 |
| At 30 November 2023 |
| Falcon Security Systems Limited (Registered number: 04014456) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2024 |
| 5. | STOCKS |
| 30.11.24 | 30.11.23 |
| £ | £ |
| Finished goods |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.11.24 | 30.11.23 |
| £ | £ |
| Trade debtors |
| Amount owed by holding company |
| Other debtors |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.11.24 | 30.11.23 |
| £ | £ |
| Bank loans and overdrafts |
| Obligations under FL and HP co |
| Trade creditors |
| Social security and other taxes |
| VAT | 29,660 | 30,759 |
| Accrued expenses |
| Other creditors | - | 36,000 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 30.11.24 | 30.11.23 |
| £ | £ |
| Hire purchase contracts |
| Other creditors | 100,000 | 115,833 |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Hire purchase | 7,816 | 14,303 |
| Included in other creditors is a loan of £100,000 (2023 - £100,000) from the Stephen and Sheila Crown Charitable Settlement. |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 30.11.24 | 30.11.23 |
| value: | £ | £ |
| Ordinary | 1 | 2 | 2 |
| Falcon Security Systems Limited (Registered number: 04014456) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 November 2024 |
| 10. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 December 2023 | ( |
) |
| Deficit for the year | ( |
) |
| At 30 November 2024 | ( |
) |
| 11. | ULTIMATE CONTROLLING PARTY |
| The controlling party is T Crown. |
| The ultimate controlling party is |
| The company is controlled by the holding company, TSC Security Limited, who holds |
| 100% of the issued share capital. TSC Security Limited is controlled by T. Crown who owns 40% of the issued share capital and S.M. Crown and Mrs. S.A. Crown who each own 26% of the issued share capital. |