Acorah Software Products - Accounts Production 16.6.950 false true true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 10518671 F Falconi true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10518671 2023-12-31 10518671 2024-12-31 10518671 2024-01-01 2024-12-31 10518671 frs-core:CurrentFinancialInstruments 2024-12-31 10518671 frs-core:BetweenOneFiveYears 2024-12-31 10518671 frs-core:WithinOneYear 2024-12-31 10518671 frs-core:ShareCapital 2024-12-31 10518671 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 10518671 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10518671 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 10518671 frs-bus:SmallEntities 2024-01-01 2024-12-31 10518671 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 10518671 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 10518671 1 2024-01-01 2024-12-31 10518671 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-01-01 2024-12-31 10518671 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-12-31 10518671 frs-bus:Director1 2024-01-01 2024-12-31 10518671 frs-countries:EnglandWales 2024-01-01 2024-12-31 10518671 2022-12-31 10518671 2023-12-31 10518671 2023-01-01 2023-12-31 10518671 frs-core:CurrentFinancialInstruments 2023-12-31 10518671 frs-core:BetweenOneFiveYears 2023-12-31 10518671 frs-core:WithinOneYear 2023-12-31 10518671 frs-core:ShareCapital 2023-12-31 10518671 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 10518671 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-12-31
Registered number: 10518671
F.C. RE Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
F.C. RE Ltd
Contents
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
F.C. RE Ltd
Company Information
For The Year Ended 31 December 2024
Company Information
Director F Falconi
Company Number 10518671
Registered Office 2nd Floor Butler House
177-178 Tottenham Court Road
London
W1T 7AF
Accountants Jones & Partners Limited
Chartered Accountants
2nd Floor, Butler House
177-178 Tottenham Court Road
London
W1T 7AF
Page 1
Page 2
F.C. RE Ltd
Balance Sheet
As At 31 December 2024
Balance Sheet
Registered number: 10518671
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 3,805,020 3,408,111
3,805,020 3,408,111
CURRENT ASSETS
Debtors 5 6,577 16,027
Cash at bank and in hand 2,144 97,800
8,721 113,827
Creditors: Amounts Falling Due Within One Year 6 (2,767,763 ) (2,748,251 )
NET CURRENT ASSETS (LIABILITIES) (2,759,042 ) (2,634,424 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,045,978 773,687
PROVISIONS FOR LIABILITIES
Deferred Taxation (90,242 ) -
NET ASSETS 955,736 773,687
CAPITAL AND RESERVES
Called up share capital 7 1 1
Fair value reserve 9 270,725 -
Profit and Loss Account 685,010 773,686
SHAREHOLDERS' FUNDS 955,736 773,687
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F.C. RE 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
22 December 2025
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
F.C. RE Ltd
Notes to the Financial Statements
For The Year Ended 31 December 2024
Notes to the Financial Statements
1. General Information
F.C. RE Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10518671 . The registered office is 2nd Floor Butler House, 177-178 Tottenham Court Road, London, W1T 7AF.
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 profit before tax of £272,291 (Loss 2024 - £95,432) and has net liabilities of £2,759,042 (2024 - £2,634,424).
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. Investment Properties
All investment properties are carried at fair value determined annually and derived from the 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.
2.5. 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.
...CONTINUED
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F.C. RE Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
2.5. Taxation - continued
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. Investment Property
2024
£
Fair Value
As at 1 January 2024 3,408,111
Additions 35,942
Fair value adjustments 360,967
As at 31 December 2024 3,805,020
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 1,181
Other debtors 6,577 14,846
6,577 16,027
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 5,726 3,840
Amounts owed to group undertakings 2,752,574 2,667,942
Other creditors 9,463 76,469
2,767,763 2,748,251
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F.C. RE Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
8. 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 61,218 61,218
Later than one year and not later than five years 72,250 101,150
133,468 162,368
Amounts stated at current values
9. Reserves
Fair Value Reserve
£
Transfer to profit and loss 270,725
As at 31 December 2024 270,725
10. Related Party Transactions
As at 31 December 2024, £150,574 (2023: £65,942) was owed to Falcons R.E. Limited a connected company. This amount is repayable on demand.
As at 31 December 2024, £1,250,00 (2023: £1,250,000) was owed to Falcons R.E. Limited. This loan has interest charged at 5% per annum and is repayable on demand.
As at 31 December 2024 £1,352,000 (2023: £1,352,000) was owed to FBF Holding S.R.L., a connected company. This loan is interest free and repayable on demand.
11. Ultimate Controlling Party
The immediate holding company is Falcons R.E. Ltd, the company's ultimate controlling party is FBF Holding SRL, a company incorporated in Italy, by virtue of its ownership of 100% of the issued share capital in Falcons R.E. Ltd.
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