Company Registration No. 03878994 (England and Wales)
Falcor BC Limited
Unaudited accounts
for the year ended 30 November 2022
Falcor BC Limited
Unaudited accounts
Contents
Falcor BC Limited
Company Information
for the year ended 30 November 2022
Company Number
03878994 (England and Wales)
Registered Office
25 Chertsey Road ( First Floor)
Chobham
GU24 8PD
Falcor BC Limited
Statement of financial position
as at 30 November 2022
Tangible assets
3,058
1,854
Investment property
257,000
487,000
Cash at bank and in hand
171,612
31,028
Creditors: amounts falling due within one year
(18,832)
(9,205)
Net current assets
190,424
52,085
Total assets less current liabilities
454,763
547,807
Creditors: amounts falling due after more than one year
(188,173)
(227,653)
Provisions for liabilities
Deferred tax
(5,614)
(11,393)
Net assets
260,976
308,761
Called up share capital
130,000
130,000
Profit and loss account
130,976
178,761
Shareholders' funds
260,976
308,761
For the year ending 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 August 2023 and were signed on its behalf by
Andrew Gifford
Director
Company Registration No. 03878994
Falcor BC Limited
Notes to the Accounts
for the year ended 30 November 2022
Falcor BC Limited is a private company, limited by shares, registered in England and Wales, registration number 03878994. The registered office is 25 Chertsey Road ( First Floor) , Chobham, GU24 8PD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain tangible assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% Reducing Balance method
Falcor BC Limited
Notes to the Accounts
for the year ended 30 November 2022
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 December 2021
5,352
14,164
19,516
At 30 November 2022
5,352
15,899
21,251
At 1 December 2021
5,352
12,310
17,662
Charge for the year
-
531
531
At 30 November 2022
5,352
12,841
18,193
At 30 November 2022
-
3,058
3,058
At 30 November 2021
-
1,854
1,854
Fair value at 1 December 2021
487,000
Net loss from fair value adjustments
(30,417)
At 30 November 2022
257,000
The Company owns two properties in Spain. A desktop valuation was performed in 2018 & the Directors do not believe there has been a material change to the valuations since that date.
Almunerca (Land) Cost £104,452, valuation £95,000
Denia Park (apartment) Cost £123,000, valuation £162,000
The Calanova apartment was sold during the current year.
6
Investments
Subsidiary undertakings
Valuation at 1 December 2021
6,868
Valuation at 30 November 2022
4,281
The investment represents a loan to a wholly owned subsidiary. That company own a property in Reigate with a net value, after deducting debt of £126,000
Falcor BC Limited
Notes to the Accounts
for the year ended 30 November 2022
Amounts falling due within one year
Trade debtors
29,174
27,266
Accrued income and prepayments
3,000
3,000
Amounts falling due after more than one year
8
Creditors: amounts falling due within one year
2022
2021
Taxes and social security
1,310
(2,827)
Other creditors
(1,784)
(2,756)
9
Creditors: amounts falling due after more than one year
2022
2021
Amounts owed to group undertakings and other participating interests
12,931
-
Loans from directors
175,242
201,312
This Director's loan is interest free & has no fixed date for repayment.
Allotted, called up and fully paid:
90,000 Ordinary Shares - Andrew Gifford of £1 each
90,000
90,000
20,000 Ordinary Shares - Wesley Gifford of £1 each
20,000
20,000
20,000 Ordinary Shares - Stephanie Gifford of £1 each
20,000
20,000
11
Average number of employees
During the year the average number of employees was 3 (2021: 3).