Registration number: 10367118

Falgate Developments Ltd

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 6

Falgate Developments Ltd

(Registration number: 10367118)
Balance Sheet as at 31 January 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	1,026	1,283
Current assets
Stocks	5	399,275	1,028,191
Debtors	6	440,307	1,691
Cash at bank and in hand		169,246	27,346
		1,008,828	1,057,228
Creditors: Amounts falling due within one year	7	(883,448)	(854,216)
Net current assets		125,380	203,012
Total assets less current liabilities		126,406	204,295
Creditors: Amounts falling due after more than one year	7	(202,000)	(202,000)
Net (liabilities)/assets		(75,594)	2,295
Capital and reserves
Called up share capital		1	1
Retained earnings		(75,595)	2,294
Shareholders' (deficit)/funds		(75,594)	2,295

For the financial year ending 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; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 9 September 2026
 

......................................... Mr G Falgate Director

Falgate Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 1
Hop Hills Lane
Dunscroft
Doncaster
DN7 4JX

These financial statements were authorised for issue by the director on 9 September 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis but for the reasons set out in the directors report this may not be appropriate.

Revenue recognition

Turnover represents the fair value of consideration receivable for properties sold in the ordinary course of business, excluding value added tax and trade discounts.

Revenue from the sale of properties is recognised at the point at which the property is legally transferred to the purchaser and the significant risks and rewards of ownership have passed to the purchaser. Accordingly, revenue and the associated profit on the sale of a property are recognised on legal completion.

Amounts received from purchasers in advance of legal completion are recognised as deferred income within creditors until the relevant property sale completes.

Falgate Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and Machinery	20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Falgate Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2025 - 1).

Falgate Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 February 2025	2,200	2,200
At 31 January 2026	2,200	2,200
Depreciation
At 1 February 2025	917	917
Charge for the year	257	257
At 31 January 2026	1,174	1,174
Carrying amount
At 31 January 2026	1,026	1,026
At 31 January 2025	1,283	1,283

5

Stocks

	2026 £	2025 £
Work in progress	399,275	1,028,191

6

Debtors

	Note	2026 £	2025 £
Trade debtors		1,420	1,420
Other debtors		430,728	-
Prepayments		280	271
Corporation tax		7,879	-
		440,307	1,691

7

Creditors

Creditors: amounts falling due within one year

Falgate Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

	Note	2026 £	2025 £
Due within one year
Trade creditors		872,050	505,884
Amounts owed to related parties		-	112
Taxation and social security		-	7,456
Corporation tax		-	12,641
Other creditors		7,158	324,123
Accrued expenses		4,240	4,000
		883,448	854,216

Creditors: amounts falling due after more than one year

	Note	2026 £	2025 £
Due after one year
Loans and borrowings	8	202,000	202,000

8	Loans and borrowings

Non-current loans and borrowings

	2026 £	2025 £
Other borrowings	202,000	202,000