Registration number: 01188220

Falcon Sportswear Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 6

Falcon Sportswear Limited

Company Information

Directors

Mr Michael John Brumfitt Mr Simon Kelvin Dooley Mr Paul Lionel Brumfitt Mr Gordon Lionel Brumfitt

Company secretary

Mr Gordon Lionel Brumfitt

Registered office

Falcon House Croft Road Crossflatts Bingley BD16 2DU

Accountants

Smith Butler Accountants & Business AdvisorsSapper Jordan Rossi Park Otley Road Baildon West Yorkshire BD17 7AX

Falcon Sportswear Limited

(Registration number: 01188220)
Balance Sheet as at 30 June 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	2,668,773	2,763,403
Current assets
Stocks	5	383,992	480,448
Debtors	6	4,944,221	5,105,545
Cash at bank and in hand		1,150,237	732,820
		6,478,450	6,318,813
Creditors: Amounts falling due within one year	7	(2,009,890)	(2,385,997)
Net current assets		4,468,560	3,932,816
Net assets		7,137,333	6,696,219
Capital and reserves
Called up share capital	8	8,000	12,000
Capital redemption reserve		8,000	4,000
Revaluation reserve		673,000	673,000
Retained earnings		6,448,333	6,007,219
Shareholders' funds		7,137,333	6,696,219

For the financial year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 August 2025 and signed on its behalf by:
 

......................................... Mr Gordon Lionel Brumfitt Company secretary and director

Falcon Sportswear Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Falcon House
Croft Road
Crossflatts
Bingley
BD16 2DU

These financial statements were authorised for issue by the Board on 19 August 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Falcon Sportswear Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold property	2% straight line
Plant and machinery	25% straight line
Motor vehicles	25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Falcon Sportswear Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 23 (2024 - 23).

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 July 2024	2,500,000	367,953	330,650	3,198,603
Additions	-	69,340	34,590	103,930
Disposals	-	-	(70,760)	(70,760)
At 30 June 2025	2,500,000	437,293	294,480	3,231,773
Depreciation
At 1 July 2024	213,000	140,000	82,200	435,200
Charge for the year	36,000	60,000	80,200	176,200
Eliminated on disposal	-	-	(48,400)	(48,400)
At 30 June 2025	249,000	200,000	114,000	563,000
Carrying amount
At 30 June 2025	2,251,000	237,293	180,480	2,668,773
At 30 June 2024	2,287,000	227,953	248,450	2,763,403

Included within the net book value of land and buildings above is £2,251,000 (2024 - £2,287,000) in respect of freehold land and buildings.
 

Falcon Sportswear Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

5

Stocks

	2025 £	2024 £
Finished goods and goods for resale	383,992	480,448

6

Debtors

Current	2025 £	2024 £
Trade debtors	4,915,687	5,077,709
Prepayments	28,534	27,836
	4,944,221	5,105,545

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	(335,868)	177,027
Taxation and social security	429,203	733,904
Accruals and deferred income	1,914,506	1,472,996
Other creditors	2,049	2,070
	2,009,890	2,385,997

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	8,000	8,000	8,000	8,000
B Ordinary shares of £0 (2024 - £1) each	-	-	4,000	4,000
	8,000	8,000	12,000	12,000