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Financial Statements for the Period 1 November 2016 to 30 April 2018 |
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Falkner Street Limited |
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REGISTERED NUMBER:
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Financial Statements for the Period 1 November 2016 to 30 April 2018 |
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for |
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Falkner Street Limited |
Falkner Street Limited (Registered number: 09824803) |
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Contents of the Financial Statements |
for the Period 1 November 2016 to 30 April 2018 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Falkner Street Limited |
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Company Information |
for the Period 1 November 2016 to 30 April 2018 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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116 Duke Street |
Liverpool |
Merseyside |
L1 5JW |
Falkner Street Limited (Registered number: 09824803) |
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Balance Sheet |
30 April 2018 |
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30.4.18 | 31.10.16 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
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Debtors | 3 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 4 |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS/(LIABILITIES) |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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Falkner Street Limited (Registered number: 09824803) |
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Notes to the Financial Statements |
for the Period 1 November 2016 to 30 April 2018 |
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1. | STATUTORY INFORMATION |
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Falkner Street Limited is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Significant judgements and estimates |
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts |
recognised in the financial statements. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in |
bringing stocks to their present location and condition. |
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Financial instruments |
Other loans are initially measured at the present value of future payments, discounted at a market rate of interest, |
and subsequently at amortised cost using the effective interest method. |
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Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are |
measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
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Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective |
evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit |
and loss. |
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Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
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Falkner Street Limited (Registered number: 09824803) |
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Notes to the Financial Statements - continued |
for the Period 1 November 2016 to 30 April 2018 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the |
timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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3. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.18 | 31.10.16 |
£ | £ |
Other debtors |
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4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.18 | 31.10.16 |
£ | £ |
Amounts owed to group undertakings |
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Other creditors |
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5. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the periods ended 30 April 2018 and |
31 October 2016: |
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30.4.18 | 31.10.16 |
£ | £ |
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Balance outstanding at start of period |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
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The loan is repayable on demand and interest has been charged. |
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6. | RELATED PARTY DISCLOSURES |
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At the balance sheet date the company owed £1,500,000 to the parent company. |
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7. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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At the balance sheet date the company is controlled by Elliot Lawless by virtue of his shareholding in the parent |
company Parliment Place Limited. Consolidated accounts are not required. |