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REGISTERED NUMBER: 06712213 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

SALTFIRE STOVES LTD

SALTFIRE STOVES LTD (REGISTERED NUMBER: 06712213)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SALTFIRE STOVES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: R Penman
Mrs P A Penman





REGISTERED OFFICE: Station Works
John's Road
Wareham
Dorset
BH20 4BG





REGISTERED NUMBER: 06712213 (England and Wales)





ACCOUNTANTS: Walker Thompson Ltd
Accountants and Registered Auditors
Empress House
43A Binley Road
Coventry
CV3 1HU

SALTFIRE STOVES LTD (REGISTERED NUMBER: 06712213)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,077 25,929
Investments 5 300,000 300,000
323,077 325,929

CURRENT ASSETS
Stocks 1,769,203 1,207,747
Debtors 6 193,085 520,784
Cash at bank and in hand 2,598,506 1,776,048
4,560,794 3,504,579
CREDITORS
Amounts falling due within one year 7 637,413 830,033
NET CURRENT ASSETS 3,923,381 2,674,546
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,246,458

3,000,475

PROVISIONS FOR LIABILITIES 5,670 5,018
NET ASSETS 4,240,788 2,995,457

CAPITAL AND RESERVES
Called up share capital 6 6
Capital redemption reserve 9 18 18
Retained earnings 9 4,240,764 2,995,433
SHAREHOLDERS' FUNDS 4,240,788 2,995,457

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

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

SALTFIRE STOVES LTD (REGISTERED NUMBER: 06712213)

BALANCE SHEET - continued
31 OCTOBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 February 2024 and were signed on its behalf by:





R Penman - Director


SALTFIRE STOVES LTD (REGISTERED NUMBER: 06712213)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

Saltfire Stoves 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.

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.

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.
Leasehold improvements - Straight line over period of the lease
Motor vehicles - 25% on reducing balance
Fittings and equipment - 15% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 9 ) .

SALTFIRE STOVES LTD (REGISTERED NUMBER: 06712213)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

4. TANGIBLE FIXED ASSETS
Fittings
Leasehold Motor and
improvements vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2022 16,024 10,670 75,639 102,333
Additions - - 1,694 1,694
At 31 October 2023 16,024 10,670 77,333 104,027
DEPRECIATION
At 1 November 2022 15,629 8,138 52,637 76,404
Charge for year 209 633 3,704 4,546
At 31 October 2023 15,838 8,771 56,341 80,950
NET BOOK VALUE
At 31 October 2023 186 1,899 20,992 23,077
At 31 October 2022 395 2,532 23,002 25,929

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 November 2022
and 31 October 2023 300,000
NET BOOK VALUE
At 31 October 2023 300,000
At 31 October 2022 300,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 164,910 495,467
Other debtors 28,175 25,317
193,085 520,784

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 9,469 40,053
Taxation and social security 526,084 688,120
Other creditors 101,860 101,860
637,413 830,033

SALTFIRE STOVES LTD (REGISTERED NUMBER: 06712213)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 51,211 51,211
Between one and five years - 51,211
51,211 102,422

9. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 November 2022 2,995,433 18 2,995,451
Profit for the year 1,445,331 1,445,331
Dividends (200,000 ) (200,000 )
At 31 October 2023 4,240,764 18 4,240,782

10. RELATED PARTY DISCLOSURES

Outstanding at the year end is a loan of £100,000 from Replacement Stove Glass, the subsidiary company. The loan is interest free and repayable on demand.