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REGISTERED NUMBER: 05282311 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

FAVA RENTAL LIMITED

FAVA RENTAL LIMITED (REGISTERED NUMBER: 05282311)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 9

FAVA RENTAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTORS: P Ralston
Mrs J L Ralston





SECRETARY: Mrs J L Ralston





REGISTERED OFFICE: Market House
21 Lenten Street
Alton
Hampshire
GU34 1HG





REGISTERED NUMBER: 05282311 (England and Wales)





ACCOUNTANTS: Wettone Matthews Limited
Chartered Certified Accountants
Market House
21 Lenten Street
Alton
GU34 1HG

FAVA RENTAL LIMITED (REGISTERED NUMBER: 05282311)

BALANCE SHEET
30 NOVEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 629,877 696,611

CURRENT ASSETS
Debtors 5 83,339 59,088
Cash at bank and in hand 21,871 41,727
105,210 100,815
CREDITORS
Amounts falling due within one year 6 217,430 191,075
NET CURRENT LIABILITIES (112,220 ) (90,260 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

517,657

606,351

CREDITORS
Amounts falling due after more than one
year

7

(371,766

)

(451,496

)

PROVISIONS FOR LIABILITIES 9 (119,476 ) (110,232 )
NET ASSETS 26,415 44,623

CAPITAL AND RESERVES
Called up share capital 10 3 3
Retained earnings 26,412 44,620
SHAREHOLDERS' FUNDS 26,415 44,623

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 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.

FAVA RENTAL LIMITED (REGISTERED NUMBER: 05282311)

BALANCE SHEET - continued
30 NOVEMBER 2024


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 16 July 2025 and were signed on its behalf by:





P Ralston - Director


FAVA RENTAL LIMITED (REGISTERED NUMBER: 05282311)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024


1. STATUTORY INFORMATION

Fava Rental 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.

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 represents net invoiced sales of goods and services, excluding value added tax.

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 - 20% on cost, 20% on reducing balance, 10% on reducing balance, 10% on cost and 7.5% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 15% on reducing balance
Computer equipment - 25% on reducing balance

There have been changes in the depreciation accounting policies to provide true and fair view of the fair value of assets. Included within plant and machinery are various subcategories of asset classes that are subject to the revaluation method, along with their own depreciation rates.

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.

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.

FAVA RENTAL LIMITED (REGISTERED NUMBER: 05282311)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


2. ACCOUNTING POLICIES - continued

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.

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.

Foreign currencies
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operation profit.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 December 2023 1,364,473 28,661 63,764 29,009 1,485,907
Additions 101,802 - - 3,837 105,639
Disposals (110,000 ) - - - (110,000 )
At 30 November 2024 1,356,275 28,661 63,764 32,846 1,481,546
DEPRECIATION
At 1 December 2023 712,755 24,619 30,328 21,594 789,296
Charge for year 76,469 1,013 5,015 2,816 85,313
Eliminated on disposal (22,940 ) - - - (22,940 )
At 30 November 2024 766,284 25,632 35,343 24,410 851,669
NET BOOK VALUE
At 30 November 2024 589,991 3,029 28,421 8,436 629,877
At 30 November 2023 651,718 4,042 33,436 7,415 696,611

FAVA RENTAL LIMITED (REGISTERED NUMBER: 05282311)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 November 2024 is represented by:

Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
Valuation in 2020 170,587 - 6,020 - 176,607
Cost 1,185,688 28,661 57,744 32,846 1,304,939
1,356,275 28,661 63,764 32,846 1,481,546

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST OR VALUATION
At 1 December 2023 426,893
Additions 92,811
Disposals (110,000 )
At 30 November 2024 409,704
DEPRECIATION
At 1 December 2023 26,915
Charge for year 79,250
Eliminated on disposal (22,940 )
At 30 November 2024 83,225
NET BOOK VALUE
At 30 November 2024 326,479
At 30 November 2023 399,978

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 65,656 44,694
Other debtors 17,683 14,394
83,339 59,088

FAVA RENTAL LIMITED (REGISTERED NUMBER: 05282311)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 64,925 65,000
Hire purchase contracts 108,750 95,071
Trade creditors 15,829 2,996
Taxation and social security 25,914 25,997
Other creditors 2,012 2,011
217,430 191,075

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 22,917 81,249
Hire purchase contracts 147,682 181,063
Other creditors 201,167 189,184
371,766 451,496

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 256,432 276,134

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 119,476 110,232

Deferred
tax
£   
Balance at 1 December 2023 110,232
Movement in the year 9,244
Balance at 30 November 2024 119,476

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
3 Ordinary £1 3 3

FAVA RENTAL LIMITED (REGISTERED NUMBER: 05282311)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


11. RELATED PARTY DISCLOSURES

The company rents a commercial property at a market rent from the directors. In the year to 30 November 2024 the rent paid was £56,814 (2023 £48,475).

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
FAVA RENTAL LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Fava Rental Limited for the year ended 30 November 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Fava Rental Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Fava Rental Limited and state those matters that we have agreed to state to the Board of Directors of Fava Rental Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Fava Rental Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Fava Rental Limited. You consider that Fava Rental Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Fava Rental Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wettone Matthews Limited
Chartered Certified Accountants
Market House
21 Lenten Street
Alton
GU34 1HG


16 July 2025