Falco Construction Limited

	Page
Strategic Report	1
Directors' Report	2—3
Independent Auditor's Report	4—6
Profit and Loss Account	7
Statement of Comprehensive Income	8
Balance Sheet	9
Statement of Changes in Equity	10
Statement of Cash Flows	11
Notes to the Statement of Cash Flows	12
Notes to the Financial Statements	13—18

The directors present their strategic report for the year ended 31 March 2025.

Review of the Business

The company's principal activity continues to be that of utility support services.

The directors consider that the key financial performance indicators (KPIs) are those that communicate the financial performance and strength of the company as a whole to its members. These KPIs comprise turnover, operating profit and shareholders' funds.

Turnover increased by 6.9% to £33,043,254 during the year. Gross margins rose from 11.4% to 14.4% due to greater efficiencies in the business. Operating profit increased and remained satisfactory at £3,354,790, resulting in Shareholders Funds totalling £1,503,545 at the year end. These results were in line with the directors' expectations for this financial year.

The company is exempt from the requirement to disclose details of non-financial key performance indicators as it is a medium sized company.

Principal Risks and Uncertainties

The company's financial risk management objectives consist of identifying and monitoring those risks which have an adverse impact on the value of the company's financial assets and liabilities or on reported profitability and on the cash flows of the company.

The company's principal financial instruments comprise cash balances and various items such as trade debtors and trade and other creditors which arise directly from trading operations.The main purpose of these financial instruments is to provide finance for the company's operations. The existence of these financial instruments exposes the company to a number of financial risks.

Liquidity Risk

The company minimises its exposure to liquidity risk by managing cash generation by its operations with cash collection targets set. The company also has working capital facility from its bankers.

In this way the company ensures that sufficient funds are available for day to day operations and planned expansions.

Credit Risk

The principal credit risk arises from trade receivables and amounts recoverable on contracts. Management has a credit policy in place and the exposure to credit risk is monitored on an ongoing basis, based on a combination of payment history and third party references.

Future Developments

During the year under review the company reported a solid profitable performance due to the increase in activity. The directors continue to make every effort to source new contracts and control costs, and believe the company is well positioned to continue to operate profitably.

On behalf of the board

Mr Brendan Griffin

Director

31 December 2025

Page 1

Page 2

Falco Construction Limited

Company No. 05285429

Directors' Report For The Year Ended 31 March 2025

Directors' Report

The directors present their report and the financial statements for the year ended 31 March 2025.

Principal Activity

The company's principal activity continues to be that of utility support services.

Directors

The directors who held office during the year were as follows:

Mr Brendan Griffin

Mr Alan Seyfi

Other Matters

The Granard EOT Limited (an employee ownership trust) acquired 100% of the shares in this business on 1st March 2021, and the company is continuing to fund the acquisition from profits and reserves. This change of ownership was done with a view to encouraging more involvement from and greater motivation among the company's workforce.

During this financial year, contributions of £2,831,253 (2024: £2,750,000) were made to The Granard EOT Limited from reserves.

Matters covered in the Strategic Report

Disclosures required under s416(4) of the Companies Act 2006 are commented upon in the Strategic Report as the directors consider them to be of strategic importance to the business.

Statement of Directors' Responsibilities

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Page 2

Page 3

Falco Construction Limited

Directors' Report (continued)

For The Year Ended 31 March 2025

Independent Auditors

The auditors, Mountsides Limited, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Mr Brendan Griffin

Director

31 December 2025

Page 3

Page 4

Independent Auditor's Report

to the Members of

Falco Construction Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Falco Construction Limited for the year ended 31 March 2025 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions Relating to Going Concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Page 4

Page 5

Independent Auditor's Report (continued)

to the Members of

Falco Construction Limited

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records or returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 2—3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from

material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion.

Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs

(UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are

considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic

decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of

non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to

detect material misstatements in respect of irregularities, including fraud.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the company and the environment in which it operates, we identified that the principal

risks of non-compliance with laws and regulations related to but not limited to, Companies Act 2006 and UK tax

legislation, and we considered the extent to which non-compliance might have a material effect on the financial

statements. We also considered those laws and regulations that have a direct impact on the financial statements such as

the Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the

financial statements (including the risk of override of controls), and determined that the principal risks were related to

posting inappropriate journal entries to increase revenue or reduce expenditure, and management bias in accounting

estimates. Audit procedures performed included:

- Enquiries with management, including consideration of known or

suspected instances of non-compliance with laws and regulations and fraud.

- Designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing.

- Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.

- Reviewing the financial statements for compliance with the Companies Act 2006.

- Evaluating and challenging the reasonableness of accounting estimates.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use Of Our Report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Page 5

Page 6

Independent Auditor's Report (continued)

to the Members of

Falco Construction Limited

Christopher Andrews ACA (Senior Statutory Auditor)

for and on behalf of Mountsides Limited , Statutory Auditor

31 December 2025

Mountsides Limited

2 Mountside

Stanmore

Middlesex

HA7 2DT

Page 6

Page 7

Falco Construction Limited

Profit and Loss Account

For The Year Ended 31 March 2025

Profit and Loss Account

		2025	2024
	Notes	£	£
TURNOVER		33,043,254	30,896,587
Cost of sales		(28,300,959 )	(27,389,784 )

GROSS PROFIT		4,742,295	3,506,803

Administrative expenses		(1,536,646 )	(1,230,802 )
Other operating income		139,950	26,106

OPERATING PROFIT	4	3,345,599	2,302,107
Other interest receivable and similar income	9	12,835	12,829
Interest payable and similar charges	10	-	(1,275 )

PROFIT BEFORE TAXATION		3,358,434	2,313,661
Tax on Profit	11	(848,430 )	(580,405 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		2,510,004	1,733,256

The notes on pages 12 to 18 form part of these financial statements.

Page 7

Page 8

Falco Construction Limited

Statement of Comprehensive Income

For The Year Ended 31 March 2025

Statement of Comprehensive Income

	2025	2024
	£	£
PROFIT FOR THE FINANCIAL YEAR	2,510,004	1,733,256
OTHER COMPREHENSIVE INCOME FOR THE YEAR	-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR	2,510,004	1,733,256

Page 8

Page 9

Falco Construction Limited

Balance Sheet

As At 31 March 2025

Balance Sheet

Registered number: 05285429

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	12		618,663		674,574

			618,663		674,574
CURRENT ASSETS
Debtors	13	3,251,981		3,164,174
Cash at bank and in hand		1,280,205		1,594,520

		4,532,186		4,758,694
Creditors: Amounts Falling Due Within One Year	14	(3,495,817 )		(3,452,858 )

NET CURRENT ASSETS (LIABILITIES)			1,036,369		1,305,836

TOTAL ASSETS LESS CURRENT LIABILITIES			1,655,032		1,980,410

PROVISIONS FOR LIABILITIES
Deferred Taxation	15		(151,487 )		(155,616 )

NET ASSETS			1,503,545		1,824,794

CAPITAL AND RESERVES
Called up share capital	17		1,000		1,000
Profit and Loss Account			1,502,545		1,823,794

SHAREHOLDERS' FUNDS			1,503,545		1,824,794

On behalf of the board

Mr Brendan Griffin

Director

31 December 2025

The notes on pages 12 to 18 form part of these financial statements.

Page 9

Page 10

Falco Construction Limited

Statement of Changes in Equity

For The Year Ended 31 March 2025

Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 April 2023	1,000	2,840,538	2,841,538
Profit for the year and total comprehensive income	-	1,733,256	1,733,256

Contribution to EOT	-	(2,750,000)	(2,750,000)

As at 31 March 2024 and 1 April 2024	1,000	1,823,794	1,824,794


Profit for the year and total comprehensive income	-	2,510,004	2,510,004

Contribution to EOT	-	(2,831,253)	(2,831,253)

As at 31 March 2025	1,000	1,502,545	1,503,545

Page 10

Page 11

Falco Construction Limited

Statement of Cash Flows

For The Year Ended 31 March 2025

Statement of Cash Flows

		2025	2024
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	2,961,650	2,817,397
Interest paid		-	(1,275 )
Tax paid		(502,139 )	(546,350 )
Contribution to EOT		(2,831,253)	(2,750,000)

Net cash used in operating activities		(371,742 )	(480,228 )

Cash flows from investing activities
Purchase of tangible assets		(137,390 )	-
Proceeds from disposal of tangible assets		(10 )	14,660
Grants received		139,950	26,106
Interest received		12,835	12,829

Net cash generated from investing activities		15,385	53,595

Cash flows from financing activities
Amount introduced by directors		105,675	-
Amount withdrawn by directors		(63,633)	(111,044)

Net cash generated from/(used in) financing activities		42,042	(111,044 )



Decrease in cash and cash equivalents		(314,315 )	(537,677 )
Cash and cash equivalents at beginning of year	2	1,594,520	2,132,197

Cash and cash equivalents at end of year	2	1,280,205	1,594,520

Page 11

Page 12

Falco Construction Limited

Notes to the Statement of Cash Flows

For The Year Ended 31 March 2025

Notes to the Statement of Cash Flows

1. Reconciliation of profit for the financial year to cash generated from operations

	2025	2024
	£	£
Profit for the financial year	2,510,004	1,733,256
Adjustments for:
Tax on profit	848,430	580,405
Interest expense	-	1,275
Interest income	(12,835 )	(12,829 )
Depreciation of tangible assets	193,311	207,863
Profit on disposal of tangible assets	-	(12,474)
Grant income	(139,950)	(26,106)
Movements in working capital:
(Increase)/decrease in trade and other debtors	(129,849 )	160,962
(Decrease)/increase in trade and other creditors	(307,461 )	185,045

Net cash generated from operations	2,961,650	2,817,397

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2025	2024
	£	£
Cash at bank and in hand	1,280,205	1,594,520

3. Analysis of changes in net funds

	As at 1 April 2024	Cash flows	As at 31 March 2025
	£	£	£
Cash at bank and in hand	1,594,520	(314,315)	1,280,205

Page 12

Page 13

Falco Construction Limited

Notes to the Financial Statements

For The Year Ended 31 March 2025

Notes to the Financial Statements

1. General Information

Falco Construction Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05285429 . The registered office is 2 Mountside, Stanmore, Middlesex, HA7 2DT.

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 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.

2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	Over term of lease
Plant & Machinery	at varying rates on cost
Motor Vehicles	at varying rates on cost
Computer Equipment	25% reducing balance

2.4. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.5. Financial Instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and

liabilities like trade and other accounts receivable and payable and loans to related parties.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment of assets are recognised in the statement of comprehensive

income

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.

...CONTINUED

Page 13

Page 14

Falco Construction Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.6. 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.

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.8. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

3. Other Operating Income

	2025	2024
	£	£
Grant income	139,950	26,106

	139,950	26,106

4. Operating Profit

The operating profit is stated after charging:

	2025	2024
	£	£
Depreciation of tangible fixed assets	193,311	207,863
Profit on disposal of tangible fixed assets	-	(12,474 )

5. Auditor's Remuneration

Remuneration received by the company's auditors and their associates during the year was as follows:

	2025	2024
	£	£
Audit Services
Audit of the company's financial statements	10,000	10,000


Other Services
Other non-audit services	35,208	30,365

Page 14

Page 15

Falco Construction Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

6. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2025	2024
	£	£
Wages and salaries	1,482,802	1,436,107
Social security costs	196,895	196,640
Other pension costs	164,457	161,963

	1,844,154	1,794,710

7. Average Number of Employees

Average number of employees, including directors, during the year was as follows:

	2025	2024
Office and administration	20	16
Project management and site operations	15	17

	35	33

8. Directors' remuneration

	2025	2024
	£	£
Emoluments	115,458	115,540
Company contributions to money purchase pension schemes	60,000	60,000

	175,458	175,540

9. Interest Receivable and Similar Income

	2025	2024
	£	£
Deposit account interest received	12,835	12,829

10. Interest Payable and Similar Charges

	2025	2024
	£	£
Bank loans and overdrafts	-	1,275

11. Tax on Profit

	Tax Rate		2025	2024
The tax charge on the profit for the year was as follows:
	2025	2024	£	£
Current tax
UK Corporation Tax	25.0%	25.0%	852,559	627,995
Deferred Tax
Deferred taxation			(4,129 )	(47,590 )


Total tax charge for the period			848,430	580,405

...CONTINUED

Page 15

Page 16

Falco Construction Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

	2025	2024
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
	£	£
Profit before tax	3,358,434	2,313,661

Tax on profit at 25% (UK standard rate)	839,609	578,415
Goodwill/depreciation not allowed for tax	48,328	51,966
Expenses not deductible for tax purposes	-	1,988
Capital allowances	(35,378 )	(1,256 )
Short term timing differences	-	(3,118 )

Total tax charge for the period	852,559	627,995

12. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 April 2024	175,955	51,144	985,512	17,788	1,230,399
Additions	-	137,390	-	-	137,390
Disposals	-	(11,265 )	-	-	(11,265 )

As at 31 March 2025	175,955	177,269	985,512	17,788	1,356,524

Depreciation
As at 1 April 2024	175,955	51,144	316,995	11,731	555,825
Provided during the period	-	22,304	164,950	6,057	193,311
Disposals	-	(11,275 )	-	-	(11,275 )

As at 31 March 2025	175,955	62,173	481,945	17,788	737,861

Net Book Value
As at 31 March 2025	-	115,096	503,567	-	618,663

As at 1 April 2024	-	-	668,517	6,057	674,574

13. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	269,624	727,394
Amounts recoverable on contracts	2,426,631	2,010,848
Other debtors	555,726	425,932

	3,251,981	3,164,174

Page 16

Page 17

Falco Construction Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

14. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	1,740,687	1,384,707
Other creditors	268,506	503,940
Corporation tax	681,020	330,600
Taxation and social security	805,604	1,233,611

	3,495,817	3,452,858

15. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024
	£	£
Other timing differences	151,487	155,616

16. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 April 2024	155,616	155,616
Deferred taxation	(4,129 )	(4,129 )

Balance at 31 March 2025	151,487	151,487

17. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
1,000 Ordinary Shares of £ 1.00 each	1,000	1,000

18. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	817,750	817,750
Later than one year and not later than five years	472,210	1,289,960

	1,289,960	2,107,710

19. Pension Commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.

During the year the charge to the profit and loss account in respect of defined contribution schemes was £164,457 (2024: £161,963).

At the balance sheet date contributions of £13,729 (2024: £0) were due to the fund and are included in creditors.

Page 17

Page 18

Falco Construction Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

20. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 April 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2025
	£	£	£	£	£
Mr Brendan Griffin	100,533	63,633	100,533	-	63,633
Mr Alan Seyfi	5,142	-	5,142	-	-

The above loan is unsecured, interest free and repayable on demand.

21. Related Party Disclosures

During the year, the company paid rent of £74,000 (2024:£74,000) to B & A Properties (London) Limited, a company owned jointly by the directors.

The company also leased plant and motor vehicles from B & A Properties (London) Limited for £272,761 (2024:£228,561).

The directors are the key management personnel in the company. During the year a total of key management personnel compensation of £214,515 (2024:£190,949) was paid.

22. Controlling Parties

The company's ultimate controlling party is The Granard EOT Limited , who own 100% of the shares in the company.

The Granard EOT Limited acquired the business on 1st March 2021, and the company is funding the acquisition from profits and reserves.

Page 18