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UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2019

FOR

FALBROS LTD

FALBROS LTD (REGISTERED NUMBER: 08147460)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FALBROS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2019







DIRECTORS: A F Ewen
Mrs J A Ewen





SECRETARY: R D Ewen





REGISTERED OFFICE: 1 Mayfair Place
London
W1J 8AJ





REGISTERED NUMBER: 08147460 (England and Wales)





ACCOUNTANTS: Evans Weir
The Victoria
25 St Pancras
Chichester
West Sussex
PO19 7LT

FALBROS LTD (REGISTERED NUMBER: 08147460)

BALANCE SHEET
31ST JULY 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 9,624 13,035
Tangible assets 5 3,252 7,788
12,876 20,823

CURRENT ASSETS
Stocks 90,000 -
Debtors 6 200,701 155,721
Cash at bank 53,350 45,171
344,051 200,892
CREDITORS
Amounts falling due within one year 7 78,511 31,689
NET CURRENT ASSETS 265,540 169,203
TOTAL ASSETS LESS CURRENT
LIABILITIES

278,416

190,026

CREDITORS
Amounts falling due after more than one
year

8

278,313

178,819
NET ASSETS 103 11,207

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3 11,107
SHAREHOLDERS' FUNDS 103 11,207

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2019 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.

FALBROS LTD (REGISTERED NUMBER: 08147460)

BALANCE SHEET - continued
31ST JULY 2019


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 9th September 2019 and were signed on its behalf
by:





A F Ewen - Director


FALBROS LTD (REGISTERED NUMBER: 08147460)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2019

1. STATUTORY INFORMATION

Falbros Ltd 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Computer software is being amortised evenly over its estimated useful life of five years.

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 - 20% on cost and Straight line over 3 years

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 year comprises current and deferred tax. Tax is recognised in the Statement of Income and
Retained Earnings, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

FALBROS LTD (REGISTERED NUMBER: 08147460)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2019

2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial
assets and liabilities like trade and other debtors and creditors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st August 2018 39,655
Additions 5,650
At 31st July 2019 45,305
AMORTISATION
At 1st August 2018 26,620
Charge for year 9,061
At 31st July 2019 35,681
NET BOOK VALUE
At 31st July 2019 9,624
At 31st July 2018 13,035

FALBROS LTD (REGISTERED NUMBER: 08147460)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2019

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st August 2018
and 31st July 2019 23,872
DEPRECIATION
At 1st August 2018 16,084
Charge for year 4,536
At 31st July 2019 20,620
NET BOOK VALUE
At 31st July 2019 3,252
At 31st July 2018 7,788

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade debtors 200,701 155,721

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Bank loans and overdrafts 42,105 13,305
Taxation and social security 34,174 16,568
Other creditors 2,232 1,816
78,511 31,689

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2019 2018
£    £   
Bank loans 128,313 28,819
Other creditors 150,000 150,000
278,313 178,819

Other creditors amounting to £150,000 falling due after 1 year is a subordinated loan.