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REGISTERED NUMBER: 08172056 (England and Wales)















Directors' Report and

Financial Statements for the Year Ended 30th November 2023

for

Favell Heating Ltd

Favell Heating Ltd (Registered number: 08172056)






Contents of the Financial Statements
for the Year Ended 30th November 2023




Page

Company Information 1

Directors' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Favell Heating Ltd

Company Information
for the Year Ended 30th November 2023







DIRECTORS: Mrs J Favell
M Favell
J B Favell





REGISTERED OFFICE: Swaddywell
10c West Road
Bourne
Lincolnshire
PE10 9PS





REGISTERED NUMBER: 08172056 (England and Wales)





ACCOUNTANTS: Spriggs & Co Limited
Chartered Certified Accountants
300 High Road
Whaplode
Spalding
Lincolnshire
PE12 6TG

Favell Heating Ltd (Registered number: 08172056)

Directors' Report
for the Year Ended 30th November 2023

The directors present their report with the financial statements of the company for the year ended 30th November 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of plumbing and heating contractors.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st December 2022 to the date of this report.

Mrs J Favell
M Favell

Other changes in directors holding office are as follows:

J B Favell - appointed 24th April 2023

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





J B Favell - Director


5th April 2024

Favell Heating Ltd (Registered number: 08172056)

Statement of Financial Position
30th November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 45,961 57,708

CURRENT ASSETS
Stocks 8,634 11,536
Debtors 5 63,526 27,479
Cash at bank 106,207 82,053
178,367 121,068
CREDITORS
Amounts falling due within one year 6 114,136 109,688
NET CURRENT ASSETS 64,231 11,380
TOTAL ASSETS LESS CURRENT
LIABILITIES

110,192

69,088

CREDITORS
Amounts falling due after more than
one year

7

2,977

4,830
NET ASSETS 107,215 64,258

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 107,115 64,158
SHAREHOLDERS' FUNDS 107,215 64,258

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 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.

Favell Heating Ltd (Registered number: 08172056)

Statement of Financial Position - continued
30th November 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 5th April 2024 and were signed on its behalf by:




M Favell - Director Mrs J Favell - Director




J B Favell - Director


Favell Heating Ltd (Registered number: 08172056)

Notes to the Financial Statements
for the Year Ended 30th November 2023

1. STATUTORY INFORMATION

Favell Heating 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 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 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.

Favell Heating Ltd (Registered number: 08172056)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2023

2. ACCOUNTING POLICIES - continued

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Computer
Plant and Motor & office
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1st December 2022 14,436 98,999 6,332 119,767
Additions 1,952 - 932 2,884
At 30th November 2023 16,388 98,999 7,264 122,651
DEPRECIATION
At 1st December 2022 9,618 48,732 3,709 62,059
Charge for year 1,354 12,566 711 14,631
At 30th November 2023 10,972 61,298 4,420 76,690
NET BOOK VALUE
At 30th November 2023 5,416 37,701 2,844 45,961
At 30th November 2022 4,818 50,267 2,623 57,708

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 59,377 23,019
Prepayments 4,149 4,460
63,526 27,479

Favell Heating Ltd (Registered number: 08172056)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 1,786 1,786
Trade creditors 47,910 43,484
Tax 15,974 -
Deferred taxation 2,937 2,626
Social security and other taxes (264 ) 7,498
VAT 20,301 14,411
Pension contributions 793 -
Business card account 428 220
Directors' loan accounts 23,144 38,980
Accrued expenses 1,127 683
114,136 109,688

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans - 1-2 years 2,977 3,573
Bank loans - 2-5 years - 1,257
2,977 4,830