Registration number: 10367118

Falgate Developments Ltd

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 7

Falgate Developments Ltd

(Registration number: 10367118)
Balance Sheet as at 31 January 2025

	Note	2025 £	2023 £
Fixed assets
Tangible assets	4	1,283	1,604
Current assets
Stocks	5	1,028,191	258,297
Debtors	6	1,691	144,644
Cash at bank and in hand		27,346	278
		1,057,228	403,219
Creditors: Amounts falling due within one year	7	(854,216)	(55,495)
Net current assets		203,012	347,724
Total assets less current liabilities		204,295	349,328
Creditors: Amounts falling due after more than one year	7	(202,000)	(345,286)
Net assets		2,295	4,042
Capital and reserves
Called up share capital		1	1
Retained earnings		2,294	4,041
Shareholders' funds		2,295	4,042

For the financial period ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The director acknowledges his 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 5 September 2025
 

Falgate Developments Ltd

(Registration number: 10367118)
Balance Sheet as at 31 January 2025

......................................... Mr G Falgate Director

Falgate Developments Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 31 January 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:
Unit 1
Hop Hills Lane
Dunscroft
Doncaster
DN7 4JX

These financial statements were authorised for issue by the director on 5 September 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.

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:

Falgate Developments Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 31 January 2025

Asset class	Depreciation method and rate
Plant and Machinery	20% reducing balance

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Falgate Developments Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 31 January 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.

3	Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2023 - 1).

Falgate Developments Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 31 January 2025

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 October 2023	2,200	2,200
At 31 January 2025	2,200	2,200
Depreciation
At 1 October 2023	596	596
Charge for the period	321	321
At 31 January 2025	917	917
Carrying amount
At 31 January 2025	1,283	1,283
At 30 September 2023	1,604	1,604

5

Stocks

	2025 £	2023 £
Work in progress	1,028,191	258,297

6

Debtors

	2025 £	2023 £
Trade debtors	1,420	-
Other debtors	-	144,644
Prepayments	271	-
	1,691	144,644

7

Creditors

Creditors: amounts falling due within one year

Falgate Developments Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 31 January 2025

	Note	2025 £	2023 £
Due within one year
Trade creditors		505,884	-
Amounts owed to related parties		112	-
Taxation and social security		7,456	-
Corporation tax		12,641	7,578
Other creditors		324,123	46,267
Accrued expenses		4,000	1,650
		854,216	55,495

Creditors: amounts falling due after more than one year

	Note	2025 £	2023 £
Due after one year
Loans and borrowings	8	202,000	345,286

8	Loans and borrowings

Non-current loans and borrowings

	2025 £	2023 £
Bank borrowings	202,000	345,286