| The Falcon Land Development Company Limited |
| Registered number: |
02494898 |
| Balance Sheet |
| as at 31 December 2016 |
|
| Notes |
|
|
2016 |
|
|
2015 |
| £ |
£ |
| Fixed assets |
| Investments |
2 |
|
|
2 |
|
|
2 |
|
| Current assets |
| Debtors |
3 |
|
770,000 |
|
|
770,006 |
| Cash at bank and in hand |
|
|
10,062 |
|
|
10,134 |
|
|
|
780,062 |
|
|
780,140 |
|
| Creditors: amounts falling due within one year |
4 |
|
(8,026) |
|
|
(3,027) |
|
| Net current assets |
|
|
|
772,036 |
|
|
777,113 |
|
| Net assets |
|
|
|
772,038 |
|
|
777,115 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Profit and loss account |
5 |
|
|
771,938 |
|
|
777,015 |
|
| Shareholders' funds |
|
|
|
772,038 |
|
|
777,115 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| A I Spencer |
| Director |
| Approved by the board on 15 September 2017 |
|
| The Falcon Land Development Company Limited |
| Notes to the Accounts |
| for the year ended 31 December 2016 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. |
|
|
Fixed asset investments |
|
Fixed asset investments are stated at cost less provision for diminution in value. |
|
|
Group accounts |
|
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertakings comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
| 2 |
Fixed Asset Investments |
| Investments in |
| subsidiary |
| undertakings |
| £ |
|
Cost |
|
At 1 January 2016 |
2 |
|
|
At 31 December 2016 |
2 |
|
|
|
|
|
|
|
|
|
|
The company has the following subsidiaries: |
|
Subsidiary undertaking |
Country of incorporation |
Principal activity |
Class of shareholding |
% Held in the company |
|
Falconland Brighton Limited |
England & Wales |
Property Investment |
Ordinary |
100 |
|
Falconland (Palace) Limited |
England & Wales |
Property Investment |
Ordinary |
100 |
|
|
The aggregate capital and reserves and the result for the year of the subsidiaries noted above were as follows: |
|
Name of undertaking |
|
|
|
|
Profit/ (Loss) |
|
Capital and Reserves |
|
Falconland Brighton Limited |
|
|
|
|
15,781 |
|
(381,699) |
|
Falconland (Palace) Limited |
|
|
|
|
606,129 |
|
2,490,684 |
|
|
| 3 |
Debtors |
2016 |
|
2015 |
| £ |
£ |
|
|
Amounts due from group undertakings |
|
770,000 |
|
770,000 |
|
Other debtors |
- |
|
6 |
|
|
|
|
|
|
770,000 |
|
770,006 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Creditors: amounts falling due within one year |
2016 |
|
2015 |
| £ |
£ |
|
|
Amounts owed to group undertakings |
|
6,026 |
|
3,027 |
|
Other creditors |
2,000 |
|
- |
|
|
|
|
|
|
8,026 |
|
3,027 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Profit and loss reserves |
2016 |
|
2015 |
| £ |
£ |
|
|
At 1 January 2016 |
777,015 |
|
777,088 |
|
Loss for year |
(5,077) |
|
(73) |
|
|
At 31 December 2016 |
771,938 |
|
777,015 |
|
|
|
|
|
|
|
|
|
|
Non-distributable reserves |
- |
|
- |
|
Distributable reserves |
771,938 |
|
777,015 |
|
|
|
|
|
|
771,938 |
|
777,015 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Related party transactions |
|
|
The company has taken advantage of the exemption available in accordance with FRS 102 Section 33 'Related Party Disclosures' not to disclose transactions entered into between two or members of a group. |
|
|
| 7 |
Controlling party |
|
|
The immediate parent company is Starclass Group Limited, registered in England and Wales. Its registered office is 7 Manchester Square, London W1U 3PQ.
The ultimate controlling party is A I Spencer. |
|
|
| 8 |
Other information |
|
|
The Falcon Land Development Company Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is: |
|
7 Manchester Square |
|
London |
|
W1U 3PQ |
