Company Registration No. 03878994 (England and Wales)
Falcor BC Limited
Unaudited accounts
for the year ended 30 November 2020
Falcor BC Limited
Unaudited accounts
Contents
Falcor BC Limited
Company Information
for the year ended 30 November 2020
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 2020
Investment property
487,000
487,000
Cash at bank and in hand
27,107
10,328
Creditors: amounts falling due within one year
(19,146)
(15,140)
Net current assets
38,319
22,955
Total assets less current liabilities
535,533
520,343
Creditors: amounts falling due after more than one year
(228,906)
(236,013)
Provisions for liabilities
Deferred tax
(11,393)
(11,393)
Net assets
295,234
272,937
Called up share capital
130,000
130,000
Profit and loss account
165,234
142,937
Shareholders' funds
295,234
272,937
For the year ending 30 November 2020 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 16 March 2021 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 2020
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 2020
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 December 2019
5,352
12,125
17,477
At 30 November 2020
5,352
12,125
17,477
At 1 December 2019
5,352
11,605
16,957
Charge for the year
-
174
174
At 30 November 2020
5,352
11,779
17,131
At 30 November 2020
-
346
346
At 30 November 2019
-
520
520
5
Investment property
2020
Fair value at 1 December 2019
487,000
At 30 November 2020
487,000
The Company owns three properties in Spain:
Apartment 516, Calanova Sea Golf, Mijas - Valuation £230,000 (cost £199,583)
Apartment A8, Denia Park, Denia - Valuation £162,000 (cost £123,000)
Land at Los Pinos, Almunerca - Valuation £95,000 (cost £104,452)
A desk-top valuation of the properties was performed to bring the records in line with current prices. Due to the economic conditions properties have been valued at 80% of the market 'asking' price for comparable units.
6
Investments
Subsidiary undertakings
Valuation at 1 December 2019
9,868
Valuation at 30 November 2020
9,868
The investment comprises the share capital & loans to Falcor Investment Properties Limited, a wholly owned subsidiary. The subsidiary owns an investment property with a net value, after deduction of associated debt, of £126,000.
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Debtors: amounts falling due within one year
2020
2019
Trade debtors
27,358
24,767
Accrued income and prepayments
3,000
3,000
Falcor BC Limited
Notes to the Accounts
for the year ended 30 November 2020
8
Creditors: amounts falling due within one year
2020
2019
Taxes and social security
10,429
10,284
9
Creditors: amounts falling due after more than one year
2020
2019
Loans from directors
200,671
204,180
The bank debt is an amortising loan secured over the Calanova property.
Other creditors comprise advances from the Director. This debt is interest free & has no fixed date for repayment.
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Share capital
2020
2019
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
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Average number of employees
During the year the average number of employees was 3 (2019: 3).