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REGISTERED NUMBER: 04014456 (England and Wales)















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: T Crown
S M Crown





SECRETARY: T Crown





REGISTERED OFFICE: Unit 2g, Anglo Office Park Lincoln Road
Cressex Business Park
High Wycombe
HP12 3RH





REGISTERED NUMBER: 04014456 (England and Wales)





ACCOUNTANTS: EHK Consulting
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 21,123 25,540

CURRENT ASSETS
Stocks 5 25,213 27,590
Debtors 6 152,543 223,501
Cash at bank - 3,414
177,756 254,505
CREDITORS
Amounts falling due within one year 7 (182,494 ) (196,777 )
NET CURRENT (LIABILITIES)/ASSETS (4,738 ) 57,728
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,385

83,268

CREDITORS
Amounts falling due after more than one
year

8

(107,816

)

(130,136

)
NET LIABILITIES (91,431 ) (46,868 )

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 10 (91,433 ) (46,870 )
SHAREHOLDERS' FUNDS (91,431 ) (46,868 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Security Systems Limited (Registered number: 04014456)

Balance Sheet - continued
30 November 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 21 January 2025 and were signed on its behalf by:





S M Crown - Director


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 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, 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
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 20% on cost

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 9 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 December 2023 26,280 30,874 57,154
Additions 676 - 676
At 30 November 2024 26,956 30,874 57,830
DEPRECIATION
At 1 December 2023 23,950 7,664 31,614
Charge for year 451 4,642 5,093
At 30 November 2024 24,401 12,306 36,707
NET BOOK VALUE
At 30 November 2024 2,555 18,568 21,123
At 30 November 2023 2,330 23,210 25,540

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 25,213 27,590

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade debtors 63,065 93,772
Amount owed by holding company 66,997 107,008
Other debtors 4,437 4,439
Prepayments and accrued income 18,044 18,282
152,543 223,501

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans and overdrafts 35,900 -
Obligations under FL and HP co 6,487 6,487
Trade creditors 73,087 100,883
Social security and other taxes 35,560 21,018
VAT 29,660 30,759
Accrued expenses 1,800 1,630
Other creditors - 36,000
182,494 196,777

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.24 30.11.23
£    £   
Hire purchase contracts 7,816 14,303
Other creditors 100,000 115,833
107,816 130,136

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: £    £   
2 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 (46,870 )
Deficit for the year (44,563 )
At 30 November 2024 (91,433 )

11. ULTIMATE CONTROLLING PARTY

The controlling party is T Crown.

The ultimate controlling party is T Crown.

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.