Falcons R.E. Ltd

	Page
Company Information	1
Balance Sheet	2—3
Notes to the Financial Statements	4—7

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Falcons R.E. Ltd

Balance Sheet

As At 31 December 2024

Balance Sheet

Registered number: 08743776

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Investment Properties	5		6,885,000		8,000,000

			6,885,000		8,000,000
CURRENT ASSETS
Debtors	6	1,422,563		1,349,448
Cash at bank and in hand		43,588		59,289

		1,466,151		1,408,737
Creditors: Amounts Falling Due Within One Year	7	(4,409,429 )		(4,377,335 )

NET CURRENT ASSETS (LIABILITIES)			(2,943,278 )		(2,968,598 )

TOTAL ASSETS LESS CURRENT LIABILITIES			3,941,722		5,031,402

Creditors: Amounts Falling Due After More Than One Year	8		(1,132,418 )		(1,164,147 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	9		(331,197 )		(609,947 )

NET ASSETS			2,478,107		3,257,308

CAPITAL AND RESERVES
Called up share capital	10		1,000		1,000
Fair value reserve	12		993,592		1,829,842
Profit and Loss Account			1,483,515		1,426,466

SHAREHOLDERS' FUNDS			2,478,107		3,257,308

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Falcons R.E. Ltd

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

The financial statements were approved by the director on 22 December 2025 and were signed by:

F Falconi

Director

The notes on pages 4 to 7 form part of these financial statements.

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Falcons R.E. Ltd

Notes to the Financial Statements

For The Year Ended 31 December 2024

Notes to the Financial Statements

1. General Information

Falcons R.E. Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08743776 . The registered office is C/O Fyfe Mcdade,, 1 Charlotte Road, London, EC2A 3DH.

The presentation currency of the financial statements is the Pound Sterling (£).

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

At 31 December 2024 the company made a loss before tax of £1,057,951 (Profit 2024 - £57,510) and has net liabilities of £2,943,278 (2024 - £2,968,598).

The director is closely monitoring the activities of the company and has received confirmation from FBF Holding S.R.L, the parent entity, that the Group will continue to support the operations of the company for the foreseeable future to allow it to be able to meet its own liabilities as they fall due.

On the basis of his assessment of the company's financial position, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

2.3. Turnover

Turnover is measured at the fair value of the consideration received and receivable, net of value added taxes. Turnover is revenue earned from amounts receivable for the rental of Investment Properties.

2.4. Tangible Fixed Assets and Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer Equipment

33% on cost

2.5. Investment Properties

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

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Falcons R.E. Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, during the year was: NIL (2023: NIL)

4. Tangible Assets

	Computer Equipment
	£
Cost or Valuation
As at 1 January 2024	995

As at 31 December 2024	995

Depreciation
As at 1 January 2024	995

As at 31 December 2024	995

Net Book Value
As at 31 December 2024	-

As at 1 January 2024	-

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Falcons R.E. Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Investment Property

	2024
	£
Fair Value
As at 1 January 2024	8,000,000
Revaluations	(1,115,000)

As at 31 December 2024	6,885,000

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	13,520	13,520
Other debtors	8,469	-
Amounts owed by group undertakings	1,400,574	1,335,928

	1,422,563	1,349,448

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Bank loans and overdrafts	31,730	30,858
Amounts owed to group undertakings	4,375,492	4,325,492
Other creditors	2,207	20,985

	4,409,429	4,377,335

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	1,132,418	1,164,147

The bank loan is secured by an investment property of the company.

The outstanding balance on the loan is repayable in full, with any accrued interest at the termination date.

9. Deferred Taxation

The provision for deferred tax is made up as follows:

	2024	2023
	£	£
Other timing differences	331,197	609,947

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Falcons R.E. Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

10. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	1,000	1,000

11. Other Commitments

Lessor

At the reporting end date the company had contracted with tenants for the following minimum lease payments:

	2024	2023
	£	£
Not later than one year	217,542	202,295
Later than one year and not later than five years	21,150	-

	238,692	202,295

Amounts stated at current values

12. Reserves

	Fair Value Reserve
	£
As at 1 January 2024	1,829,842
Transfer to profit and loss	(836,250 )

As at 31 December 2024	993,592

13. Related Party Transactions

As at 31 December 2024, £150,574 (2023: £65,942) was owed from F.C. RE Ltd, a subsidiary company. This amount is repayable on demand.

As at 31 December 2024 a loan of £1,250,000 (£1,250,000) was owed from F.C. RE Ltd. This loan has interest charged at 5% per annum and is repayable on demand.

As at 31 December 204, £4,375,492 (2023: £4,375,492) was owed to FBF Holding S.R.L., the immediate holding company. This loan has interest charged at 5% per annum up to November 2024 and is repayable on demand.

The company's ultimate controlling party is FBF Holding S.R.L., a company incorporated in Italy, by virtue of its ownership of 100% of the issued share capital in the company.

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Director	F Falconi

Company Number	08743776

Registered Office	C/O Fyfe Mcdade,
	1 Charlotte Road
	London
	EC2A 3DH

Accountants	Jones & Partners Limited
	Chartered Accountants
	2nd Floor, Butler House
	177-178 Tottenham Court Road
	London
	W1T 7AF