Falkner and Phelan Limited

Falkner and Phelan Limited
Statement of Financial Position
As at 31 January 2026

	Notes	2026 £	2025 £
Fixed assets
Tangible fixed assets	3	867,239	752,634
		867,239	752,634
Current assets
Debtors	4	5,725	4,175
Cash at bank and in hand		36,884	1,142
		42,609	5,317
Creditors: amount falling due within one year	5	(476,918)	(468,344)
Net current assets		(434,309)	(463,027)

Total assets less current liabilities		432,930	289,607
Creditors: amount falling due after more than one year	6	(597,356)	(415,857)
Provisions for liabilities	7	(91)	(91)
Net assets		(164,517)	(126,341)

Capital and reserves
Called up share capital	8	10	10
Profit and loss account		(164,527)	(126,351)
Shareholders' funds		(164,517)	(126,341)

For the year ended 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The financial statements were approved by the director on 08 August 2026 and were signed by:

-------------------------------
Danielle Patrice Whelan
Director

Falkner and Phelan Limited
Notes to the Financial Statements
For the year ended 31 January 2026

General Information

Falkner and Phelan Limited is a private company, limited by shares, registered in England and Wales, registration number 11777571, registration address Penny Lane Business Centre, 374 Smithdown Road, Liverpool, Merseyside, L15 5AN.

The presentation currency is £ sterling.

Accounting policies

Significant accounting policies

Statement of compliance

These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.

The financial statements are prepared in sterling which is the functional currency of the company.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Fixtures and Fittings

25 Reducing Balance

Provisions

Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.

2.	Average number of employees Average number of employees during the year was 1 (2025 : 1).

Tangible fixed assets

Cost or valuation	Land and Buildings	Fixtures and Fittings	Total
	£	£	£
At 01 February 2025	752,365	1,729	754,094
Additions	212,500	2,896	215,396
Disposals	(100,000)	-	(100,000)
At 31 January 2026	864,865	4,625	869,490
Depreciation
At 01 February 2025	-	1,460	1,460
Charge for year	-	791	791
On disposals	-	-	-
At 31 January 2026	-	2,251	2,251
Net book values
Closing balance as at 31 January 2026	864,865	2,374	867,239
Opening balance as at 01 February 2025	752,365	269	752,634

Debtors: amounts falling due within one year

	2026 £		2025 £
Other Debtors	5,725		4,175
	5,725		4,175

Creditors: amount falling due within one year

	2026 £	2025 £
PAYE & Social Security	291	200
Accrued Expenses	924	924
Directors' Current Accounts	475,703	467,220
	476,918	468,344

Creditors: amount falling due after more than one year

	2026 £		2025 £
Bank Loans & Overdrafts	597,356		415,857
	597,356		415,857

Provisions for liabilities

	2026 £		2025 £
Deferred Tax	91		91
	91		91

Share Capital

Authorised
10 Ordinary shares of £1.00 each

Allotted, called up and fully paid	2026 £		2025 £
10 Ordinary shares of £1.00 each	10		10
	10		10

Registered Number: 11777571
England and Wales
Filleted Accounts

for the year ended 31 January 2026
for
FALKNER AND PHELAN LIMITED