| Falloden Ltd |
| Registered number: |
13460416 |
| Balance Sheet |
| as at 30 June 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Investments |
3 |
|
|
20,935,000 |
|
|
21,442,517 |
|
| Current assets |
| Debtors |
4 |
|
91,586 |
|
|
75,597 |
| Cash at bank and in hand |
|
|
937,274 |
|
|
989,538 |
|
|
|
1,028,860 |
|
|
1,065,135 |
|
| Creditors: amounts falling due within one year |
5 |
|
(91,209) |
|
|
(204,319) |
|
| Net current assets |
|
|
|
937,651 |
|
|
860,816 |
|
| Total assets less current liabilities |
|
|
|
21,872,651 |
|
|
22,303,333 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(13,025,592) |
|
|
(12,933,278) |
|
| Provisions for liabilities |
|
|
|
(50,523) |
|
|
(129,980) |
|
|
| Net assets |
|
|
|
8,796,536 |
|
|
9,240,075 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
5,900 |
|
|
5,900 |
| Share premium |
|
|
|
8,680,250 |
|
|
8,680,250 |
| Other reserves |
8 |
|
|
151,570 |
|
|
574,784 |
| Profit and loss account |
|
|
|
(41,184) |
|
|
(20,859) |
|
| Shareholders' funds |
|
|
|
8,796,536 |
|
|
9,240,075 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
| P J Tomes |
| Director |
| Approved by the board on 9 December 2025 |
|
| Falloden Ltd |
| Notes to the Accounts |
| for the year ended 30 June 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
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. |
|
|
Investment property |
|
All investment properties are carried at fair value determined annually and derived from current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account. |
|
|
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. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Investments |
|
| Investment |
| Properties |
| £ |
|
Fair value |
|
At 1 July 2024 |
21,442,517 |
|
Revaluation |
(507,517) |
|
|
At 30 June 2025 |
20,935,000 |
|
|
|
|
|
|
|
|
|
|
Historical cost |
|
At 1 July 2024 |
20,732,907 |
|
At 30 June 2025 |
20,732,907 |
|
|
|
|
|
|
|
|
|
|
|
The residential properties were valued at £17,290,000 as at 30 June 2025 (£16,197,481 at 30 June 2024) including a fair value increase of £1,092,519 in the year ended 30 June 2025. The commercial properties were valued at £3,645,000 at 30 June 2025 (£5,245,036 at 30 June 2024) including a fair value decrease of £1,600,036 in the year ended 30 June 2025. Part of the commercial property has been converted into residential flats which is reflected in the revaluations. |
|
The investment properties were valued on behalf of United Trust Bank Limited during August 2025 based on open market values. |
|
| 4 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade debtors |
42,332 |
|
45,837 |
|
Prepayments and accrued income |
|
|
|
44,753 |
|
28,092 |
|
Other debtors |
4,501 |
|
1,668 |
|
|
|
|
|
|
91,586 |
|
75,597 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade creditors |
4,876 |
|
103,615 |
|
Taxation and social security costs |
5,296 |
|
9,160 |
|
Directors loan accounts |
16,138 |
|
14,736 |
|
Accrued liabilities and deferred income |
37,088 |
|
73,753 |
|
Other creditors |
27,811 |
|
3,055 |
|
|
|
|
|
|
91,209 |
|
204,319 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans |
12,989,592 |
|
12,933,278 |
|
Other creditors |
36,000 |
|
- |
|
|
|
|
|
|
13,025,592 |
|
12,933,278 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Loans |
2025 |
|
2024 |
| £ |
£ |
|
Creditors include: |
|
|
Secured bank loans |
12,989,592 |
|
12,933,278 |
|
|
|
|
|
|
|
|
|
|
All loans are repayable in full between 1 and 5 years and are secured by charges on the investment properties and personal directors' guarantees. |
|
|
| 8 |
Other reserves |
2025 |
|
2024 |
| £ |
£ |
|
Fair value reserve |
|
At 1 July 2024 |
574,784 |
|
20,660 |
|
(Loss)/gain on revaluation of land and buildings |
(507,517) |
|
684,104 |
|
Deferred taxation adjustment arising on the revaluations |
84,303 |
|
(129,980) |
|
|
At 30 June 2025 |
151,570 |
|
574,784 |
|
|
|
|
|
|
|
|
|
|
Fair value reserve represents the fair value gains and losses net of deferred tax on investment properties revaluations. |
|
| 9 |
Related party transactions |
|
|
Included in other creditors, amounts due within one year, are balances owed to P J Tomes £14,509 (2024: £7,368) and L C Tomes £14,509 (2024: £7,368). The balances are interest free and repayable on demand. |
|
|
| 10 |
Controlling party |
|
|
In the opinion of the directors, the company is controlled by the directors who own 100% of the issued shares between them. |
|
|
| 11 |
Other information |
|
|
Falloden Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
373 Wimbledon Park Road |
|
London |
|
SW19 6PE |