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REGISTERED NUMBER: 06740882 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2019

FOR

FALKONAIR LTD

FALKONAIR LTD (REGISTERED NUMBER: 06740882)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FALKONAIR LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2019







DIRECTOR: Mr C Micallef





SECRETARY: Mrs P Micallef





REGISTERED OFFICE: 1 Partridge Drive
Uttoxeter
Staffordshire
ST14 8TY





REGISTERED NUMBER: 06740882 (England and Wales)





ACCOUNTANTS: Wynniatt-Husey Limited (Uttoxeter Branch)
The Old Bakehouse
Dove Walk
Uttoxeter
Staffordshire
ST14 8EH

FALKONAIR LTD (REGISTERED NUMBER: 06740882)

BALANCE SHEET
30 NOVEMBER 2019

30.11.18 30.11.19
£    Notes £   
FIXED ASSETS
810 Tangible assets 4 1,603

CURRENT ASSETS
43,473 Debtors 5 4,506
20,169 Cash at bank 99,804
63,642 104,310
CREDITORS
(60,546 ) Amounts falling due within one year 6 (102,474 )
3,096 NET CURRENT ASSETS 1,836
3,906 TOTAL ASSETS LESS CURRENT
LIABILITIES

3,439

CREDITORS
(1,334 ) Amounts falling due after more than one
year

7

(1,334

)

(813 ) PROVISIONS FOR LIABILITIES 8 (304 )
1,759 NET ASSETS 1,801

CAPITAL AND RESERVES
1,000 Called up share capital 9 1,000
759 Retained earnings 801
1,759 SHAREHOLDERS' FUNDS 1,801

FALKONAIR LTD (REGISTERED NUMBER: 06740882)

BALANCE SHEET - continued
30 NOVEMBER 2019


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 19 May 2020 and were signed by:





Mr C Micallef - Director


FALKONAIR LTD (REGISTERED NUMBER: 06740882)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2019

1. STATUTORY INFORMATION

Falkonair 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.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done
in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and
contracts for on-going services is recognised by reference to the stage of completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Storage shed - 10% on cost
Tools & equipment - 25% on reducing balance
Office equipment - 25% on reducing balance

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases
are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element
of the future payments is treated as a liability.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - 1 ).

FALKONAIR LTD (REGISTERED NUMBER: 06740882)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2019

4. TANGIBLE FIXED ASSETS
Storage Tools & Office
Totals shed equipment equipment
£    £    £    £   
COST
At 1 December 2018 5,244 1,225 2,820 1,199
Additions 1,448 - - 1,448
At 30 November 2019 6,692 1,225 2,820 2,647
DEPRECIATION
At 1 December 2018 4,434 1,103 2,469 862
Charge for year 655 122 87 446
At 30 November 2019 5,089 1,225 2,556 1,308
NET BOOK VALUE
At 30 November 2019 1,603 - 264 1,339
At 30 November 2018 810 122 351 337

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.19 30.11.18
£    £   
Trade debtors - 43,473
Other debtors - InterCompany 3,889 -
VAT 617 -
4,506 43,473

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.19 30.11.18
£    £   
Other loans - 6,342
Hire purchase contracts - 2,655
Trade creditors - (43 )
Tax 5,168 9,141
VAT - 11,184
Funding Circle Loan 90,000 -
Directors' current accounts 6,706 30,667
Accrued expenses 600 600
102,474 60,546

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.19 30.11.18
£    £   
Hire purchase contracts 1,334 1,334

8. PROVISIONS FOR LIABILITIES
30.11.19 30.11.18
£    £   
Deferred tax 304 813

FALKONAIR LTD (REGISTERED NUMBER: 06740882)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2019

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 December 2018 813
Deferred tax movement (509 )
Balance at 30 November 2019 304

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.19 30.11.18
value: £    £   
1,000 Ordinary £1 1,000 1,000