Falcon Park Ventures Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 10232639 (England and Wales)

FALCON PARK VENTURES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2023

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

Mr A J Clark

Mrs L E Pinder

REGISTERED OFFICE:

Endeavour House 7 Enterprise Way

Pinchbeck

Spalding

Lincolnshire

PE11 3YR

REGISTERED NUMBER:

10232639 (England and Wales)

ACCOUNTANTS:

Candour Accounts Limited

Endeavour House

7 Enterprise Way

Pinchbeck

Spalding

Lincolnshire

PE11 3YR

FIXED ASSETS

Tangible assets

4

1,233,086

1,233,421

CURRENT ASSETS

Stocks

7,000

-

Debtors

5

7,059

25,206

Cash at bank and in hand

158,620

202,367

172,679

227,573

CREDITORS

Amounts falling due within one year

6

102,754

122,764

NET CURRENT ASSETS

69,925

104,809

TOTAL ASSETS LESS CURRENT LIABILITIES

1,303,011

1,338,230

CREDITORS

Amounts falling due after more than one year

7

(1,027,428

)

(1,036,740

)

PROVISIONS FOR LIABILITIES

(6,632

)

(6,665

)

NET ASSETS

268,951

294,825

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

268,851

294,725

SHAREHOLDERS' FUNDS

268,951

294,825

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2023 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 17 October 2023 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 etc

-

25% on reducing balance and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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 period was 2 (2022 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2023

1,199,132

92,101

1,291,233

Additions

-

5,549

5,549

At 30 June 2023

1,199,132

97,650

1,296,782

DEPRECIATION

At 1 January 2023

12,995

39,379

52,374

Charge for period

2,950

8,372

11,322

At 30 June 2023

15,945

47,751

63,696

NET BOOK VALUE

At 30 June 2023

1,183,187

49,899

1,233,086

At 31 December 2022

1,186,137

52,722

1,238,859

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

7,059

25,206

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

35,000

35,000

Trade creditors

-

510

Taxation and social security

32,603

41,241

Other creditors

35,151

46,013

102,754

122,764

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

271,303

277,773

Other creditors

756,125

758,967

1,027,428

1,036,740

8.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Lloyds loan

291,303

-

Lloyds provided the company with a loan. This loan is secured by a fixed and floating charge.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

50

Ordinary A shares

1

50

50

50

Ordinary B shares

1

50

50

100

100

10.	RELATED PARTY DISCLOSURES

At the year end the Company owed Connell Property Limited £361,950 (2022 £361,950) on which no interest is being charged. Connell Property Limited is 100% owed by Mrs L Pinder, Director of Falcon Park Ventures Limited.

At the year end the company owed Mrs L Pinder £2,282 (2022 £11,189).

At the year end the company owed Mr A J Clarke £391,894 (2022 £391,894)

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Falcon Park Ventures Limited for the period ended 30 June 2023 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Falcon Park Ventures Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Falcon Park Ventures Limited and state those matters that we have agreed to state to the Board of Directors of Falcon Park Ventures Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Falcon Park Ventures Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Falcon Park Ventures Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Falcon Park Ventures Limited. You consider that Falcon Park Ventures Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Falcon Park Ventures Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Candour Accounts Limited

Endeavour House

7 Enterprise Way

Pinchbeck

Spalding

Lincolnshire

PE11 3YR

Date: .............................................