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REGISTERED NUMBER: 05071200 (England and Wales)















FANS & BLOWERS LIMITED

Unaudited Financial Statements for the Year Ended 31 March 2023






FANS & BLOWERS LIMITED (REGISTERED NUMBER: 05071200)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FANS & BLOWERS LIMITED

Company Information
for the Year Ended 31 March 2023







DIRECTORS: J Newey
D E Keates





SECRETARY: J Newey





REGISTERED OFFICE: The Counting House
59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX





REGISTERED NUMBER: 05071200 (England and Wales)





ACCOUNTANTS: Michael Dufty Partnership Limited
59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX

FANS & BLOWERS LIMITED (REGISTERED NUMBER: 05071200)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,901,037 2,007,328
1,901,037 2,007,328

CURRENT ASSETS
Stocks 150,922 143,281
Debtors 6 1,253,710 1,108,313
Cash at bank 80,692 12,156
1,485,324 1,263,750
CREDITORS
Amounts falling due within one year 7 1,307,788 1,054,281
NET CURRENT ASSETS 177,536 209,469
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,078,573

2,216,797

CREDITORS
Amounts falling due after more than one
year

8

(1,071,244

)

(1,212,629

)

PROVISIONS FOR LIABILITIES (190,039 ) (190,039 )
NET ASSETS 817,290 814,129

CAPITAL AND RESERVES
Called up share capital 10 100 100
Revaluation reserve 11 185,200 185,200
Retained earnings 631,990 628,829
SHAREHOLDERS' FUNDS 817,290 814,129

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

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

FANS & BLOWERS LIMITED (REGISTERED NUMBER: 05071200)

Balance Sheet - continued
31 March 2023


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 1 December 2023 and were signed on its behalf by:





J Newey - Director


FANS & BLOWERS LIMITED (REGISTERED NUMBER: 05071200)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Fans & Blowers 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of five years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 10% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 50% 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 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.


FANS & BLOWERS LIMITED (REGISTERED NUMBER: 05071200)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
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
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Government grants
Government grants that have been received in respect to fixed assets are recognised over the estimated useful life of the asset to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2022 - 26 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 51,740
AMORTISATION
At 1 April 2022
and 31 March 2023 51,740
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

FANS & BLOWERS LIMITED (REGISTERED NUMBER: 05071200)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST OR VALUATION
At 1 April 2022 1,238,649 1,417,626 39,979
Additions 19,630 100,316 5,259
Disposals (48,000 ) (62,380 ) -
At 31 March 2023 1,210,279 1,455,562 45,238
DEPRECIATION
At 1 April 2022 - 810,142 31,029
Charge for year - 88,740 3,528
Eliminated on disposal - (6,806 ) -
At 31 March 2023 - 892,076 34,557
NET BOOK VALUE
At 31 March 2023 1,210,279 563,486 10,681
At 31 March 2022 1,238,649 607,484 8,950

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 April 2022 239,290 113,692 3,049,236
Additions - 1,820 127,025
Disposals - (18,594 ) (128,974 )
At 31 March 2023 239,290 96,918 3,047,287
DEPRECIATION
At 1 April 2022 90,122 110,615 1,041,908
Charge for year 35,194 2,280 129,742
Eliminated on disposal - (18,594 ) (25,400 )
At 31 March 2023 125,316 94,301 1,146,250
NET BOOK VALUE
At 31 March 2023 113,974 2,617 1,901,037
At 31 March 2022 149,168 3,077 2,007,328

Cost or valuation at 31 March 2023 is represented by:

Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
Valuation in 2017 223,132 - -
Cost 987,147 1,455,562 45,238
1,210,279 1,455,562 45,238

FANS & BLOWERS LIMITED (REGISTERED NUMBER: 05071200)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 2017 - - 223,132
Cost 239,290 96,918 2,824,155
239,290 96,918 3,047,287

If Freehold property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,015,517 1,015,517
Aggregate depreciation 72,558 72,558

Freehold property was valued on an open market basis on 31 March 2017 by James Newey Director .

The net book value of tangible fixed assets includes £ 572,259 (2022 - £ 628,621 ) in respect of assets held under hire purchase contracts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 404,068 351,163
Amounts owed by group undertakings 686,192 584,242
Other debtors 60,829 58,264
Newey Trailers 39,422 36,699
Prepayments 63,199 77,945
1,253,710 1,108,313

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 73,391 41,301
Hire purchase contracts 98,603 94,709
Trade creditors 472,550 451,733
Social security and other taxes 124,453 36,003
Other creditors 2,184 5,309
Factoring liability 443,206 288,832
Directors' current accounts 204 1,212
Accrued expenses 93,197 135,182
1,307,788 1,054,281

FANS & BLOWERS LIMITED (REGISTERED NUMBER: 05071200)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 73,391 41,301
Bank loans - 2-5 years 220,172 123,903
Bank loans more 5 yr by instal 356,111 544,599
Hire purchase contracts 421,570 502,826
1,071,244 1,212,629

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 356,111 544,599

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 723,065 751,104
Hire purchase contracts 520,173 597,535
Invoice discount liability 443,206 288,832
1,686,444 1,637,471

The bank overdraft is secured by a floating debenture over all the assets of the company.

The bank loan is secured on the property it relates to.

The invoice discount liability is secured on the trade debts of the company.

The hire purchase creditor is secured on the assets to which the borrowing relates.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Revaluation
reserve
£   
At 1 April 2022
and 31 March 2023 185,200

12. RELATED PARTY DISCLOSURES

At the balance sheet date the company was owed £60,829 (2022: £75,364) by Josh Roddick Agricultural Contracting Limited. The loan is repayable upon demand.

FANS & BLOWERS LIMITED (REGISTERED NUMBER: 05071200)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J Newey.