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Registered Number: 09099052
England and Wales

 

 

 

FAVORTECH LTD.



Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2024

End date: 31 December 2024

FAVORTECH LTD.
Contents Page
For the year ended 31 December 2024
Director Oluwaseun OGIDIOLU
Registered Number 09099052
Registered Office 4 LILLYWHITES LANE
HODDESDON
HERTFORDSHIRE
EN11 8FW
Accountants Anewthing Accounting Services
81 Pier Road
Northfleet
Gravesend
Kent
DA11 9NA
1
Director's report and financial statements
The director presents his/her/their report and accounts for the year ended 31 December 2024.
Director
The director who served the company throughout the year was as follows:
Oluwaseun OGIDIOLU
Statement of director's responsibilities
The director is responsible for preparing the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with FRS105. The financial statements are required by law to give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

On behalf of the board.


----------------------------------
Oluwaseun OGIDIOLU
Director

Date approved: 29 September 2025
2
Report to the directors on the preparation of the unaudited statutory accounts of FAVORTECH LTD. for the year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of FAVORTECH LTD. for the year ended 31 December 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given to us.

As a practising member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.

This report is made solely to the Board of Directors of FAVORTECH LTD., as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of FAVORTECH LTD. and state those matters that we have agreed to state to the Board of Directors of FAVORTECH LTD., as a body, in this report.To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than FAVORTECH LTD. and its Board of Directors as a body for our work or for this report.

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

We have not been instructed to carry out an audit of the accounts of FAVORTECH LTD.. 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 financial statements 31 December 2024.



....................................................
Anewthing Accounting Services
81 Pier Road
Northfleet
Gravesend
Kent
DA11 9NA
29 September 2025
3
  2024   2023
    £ £   £ £
Current assets 19,256      28,548   
Creditors: amount falling due within one year 0      (3,909)  
Net current assets   19,256      24,639 
Total assets less current liabilities   19,256      24,639 
Creditors: amount falling due after more than one year   (11,250)     (13,750)
Net assets   8,006      10,889 
 

         
Capital and reserves   8,006      10,889 
 
NOTES TO THE ACCOUNTS

General Information
FAVORTECH LTD. is a private company, limited by shares, registered in England and Wales, registration number 09099052, registration address 4 LILLYWHITES LANE, HODDESDON, HERTFORDSHIRE, EN11 8FW.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
2.

Average number of employees

Average number of employees during the year was 0 (2023 : 1).


For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's Responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 29 September 2025 and were signed by:


--------------------------------
Oluwaseun OGIDIOLU
Director
4