FALCON GARAGE LIMITED


Directors	PATEL, Dilen Surendrakumar, Dr
	PATEL, Surendra
	PATEL, Usha


Company Secretary	PATEL, Usha


Registered Address	C/O Falcon Garage
	Burghfield Road
	Tadley
	RG26 4QY


Registered Number	06555143 (England and Wales)

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	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 policy
	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.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	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.

Deferred tax

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.

	Intangible assets
	Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Land and buildings	100
	Plant and machinery	5
	Vehicles	5

	Investment property
	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. Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with FRS102 1A, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to other profit and loss account reserves unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Investment property

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. 

Certain of the company's properties are held for long-term investment. Investment properties are
accounted for in accordance with FRS102 1A, as follows:

No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to other profit and loss account reserves unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

2.	Average number of employees


		2025		2024
	Average number of employees during the year	25		29

3.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 April 24	375,000	375,000
At 31 March 25	375,000	375,000
Amortisation and impairment
At 01 April 24	375,000	375,000
At 31 March 25	375,000	375,000
Net book value
At 31 March 25	-	-
At 31 March 24	-	-

4.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Fixtures & fittings	Total
	£	£	£	£	£
Cost or valuation
At 01 April 24	7,260,000	2,133,105	76,063	93,752	9,562,920
Additions	-	161,799	-	247,500	409,299
At 31 March 25	7,260,000	2,294,904	76,063	341,252	9,972,219
Depreciation and impairment
At 01 April 24	144,323	1,327,318	34,913	-	1,506,554
Charge for year	37,948	233,361	10,400	85,313	367,022
At 31 March 25	182,271	1,560,679	45,313	85,313	1,873,576
Net book value
At 31 March 25	7,077,729	734,225	30,750	255,939	8,098,643
At 31 March 24	7,115,677	805,787	41,150	93,752	8,056,366

5.	Investment property


		£
	Fair value at 01 April 24	1,034,417
	Disposals	(260,359)
	At 31 March 25	774,058

6.	Stocks

	2025	2024
	£	£
Other stocks	238,786	261,687
Total	238,786	261,687

7.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	45,754	64,857
Amounts owed by group undertakings	829,619	183,712
Other debtors	1,180,056	1,194,768
Prepayments and accrued income	109,404	62,535
Total	2,164,833	1,505,872

8.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	200,367	224,067
Bank borrowings and overdrafts	390,494	191,615
Taxation and social security	51,849	10,424
Other creditors	1,324,820	1,177,981
Accrued liabilities and deferred income	63,925	87,639
Total	2,031,455	1,691,726


	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.

9.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	1,582,159	1,975,230
Total	1,582,159	1,975,230

10.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	921,262	836,589
Total	921,262	836,589

11.	Directors advances, credits and guarantees
	At the year end Directors current account balance is 7,736 (2023 - £4,126Cr).

12.	Related party transactions
	Debtors includes balance of £958,534 (2023- £700,534) related to Exate Limited, £36,500 (2023-£15,500) relates to Optimum Vision, NIL (2023 - £14,000) related to Rivantis Foods Limited, £829,619 (2023 - £183,712) related to Better Basket Limited, and £181,022 (2024- 18) related to ISSH Estates Limited. Other creditors includes balance of £1,125,000 related to Priyanka Patel and £132,100 Cr (2023 - £464,400Cr ) related to ISSH Holdings Limited.

12.

Related party transactions

Debtors includes balance of £958,534 (2023- £700,534) related to Exate Limited, £36,500 (2023-£15,500) relates to Optimum Vision, NIL (2023 - £14,000) related to Rivantis Foods Limited, £829,619 (2023 - £183,712) related to Better Basket Limited, and £181,022 (2024- 18) related to ISSH Estates Limited.

Other creditors includes balance of £1,125,000 related to Priyanka Patel and  £132,100 Cr (2023 - £464,400Cr ) related to ISSH Holdings Limited.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	4		8,098,643		8,056,366
Investment property	5		774,058		1,034,417
			8,872,701		9,090,783
Current assets
Stocks	6	238,786		261,687
Debtors	7	2,164,833		1,505,872
Cash at bank and on hand		345,411		153,227
		2,749,030		1,920,786
Creditors amounts falling due within one year	8	(2,031,455)		(1,691,726)
Net current assets (liabilities)			717,575		229,060
Total assets less current liabilities			9,590,276		9,319,843
Creditors amounts falling due after one year	9		(1,582,159)		(1,975,230)
Provisions for liabilities	10		(921,262)		(836,589)
Net assets			7,086,855		6,508,024
Capital and reserves
Called up share capital			100		100
Revaluation reserve			4,431,019		4,431,019
Profit and loss account			2,655,736		2,076,905
Shareholders' funds			7,086,855		6,508,024