Falcon Park Ventures Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10232639 (England and Wales)

FALCON PARK VENTURES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A J Clark

Mrs L E Pinder

REGISTERED OFFICE:

Spalding Business Centre

Church Street

Spalding

Lincolnshire

PE11 2PB

REGISTERED NUMBER:

10232639 (England and Wales)

ACCOUNTANTS:

Candour Accounts Limited

Spalding Business Centre

Church Street

Spalding

Lincolnshire

PE11 2PB

FIXED ASSETS

Tangible assets

4

1,214,852

1,206,842

CURRENT ASSETS

Debtors

5

28,783

18,405

Cash at bank and in hand

60,284

39,977

89,067

58,382

CREDITORS

Amounts falling due within one year

6

75,743

77,429

NET CURRENT ASSETS/(LIABILITIES)

13,324

(19,047

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,228,176

1,187,795

CREDITORS

Amounts falling due after more than one year

7

1,136,865

1,137,618

NET ASSETS

91,311

50,177

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

91,211

50,077

91,311

50,177

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	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.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2021 and were signed on its behalf by:

Mr A J Clark - Director

Mrs L E Pinder - Director

1.	STATUTORY INFORMATION

Falcon Park Ventures Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance and 15% on reducing balance

Taxation

Taxation for the year 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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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 year end and that are expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Computer

property

machinery

equipment

Totals

£

£

£

£

COST

At 1 July 2019

1,147,523

73,402

-

1,220,925

Additions

20,590

-

195

20,785

At 30 June 2020

1,168,113

73,402

195

1,241,710

DEPRECIATION

At 1 July 2019

2,950

11,133

-

14,083

Charge for year

3,362

9,364

49

12,775

At 30 June 2020

6,312

20,497

49

26,858

NET BOOK VALUE

At 30 June 2020

1,161,801

52,905

146

1,214,852

At 30 June 2019

1,144,573

62,269

-

1,206,842

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

22,124

13,742

VAT

6,659

4,663

28,783

18,405

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

30,000

30,000

Trade creditors

5,873

21,554

Tax

11,370

-

Accruals and deferred income

28,500

25,875

75,743

77,429

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans - 2-5 years

343,391

367,144

Other creditors

384,950

359,950

Directors' loan accounts

408,524

410,524

1,136,865

1,137,618

8.	RELATED PARTY DISCLOSURES

At the year end the Company owed Connell Property Limited £359,950 (2019 £359,950). Connell Property Limited is 100% owed by Mrs L Pinder, Director of Falcon Park Ventures Limited.