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REGISTERED NUMBER: 04636920 (England and Wales)















Stovesonline Limited

Unaudited Financial Statements for the Year Ended 31 March 2023






Stovesonline Limited (Registered number: 04636920)

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


Stovesonline Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: J S Nightingale
S Nightingale





REGISTERED OFFICE: Stovesonline Limited Flightway
Dunkeswell Business Park
Dunkeswell
Devon
EX14 4RD





REGISTERED NUMBER: 04636920 (England and Wales)





ACCOUNTANTS: Haines Watts Accountants (Exeter) Limited
3 Southernhay West
Exeter
Devon
EX1 1JG

Stovesonline Limited (Registered number: 04636920)

Balance Sheet
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 5 1 1
Tangible assets 6 312,338 320,713
312,339 320,714

CURRENT ASSETS
Stocks 1,173,537 626,936
Debtors 7 95,749 51,182
Cash at bank and in hand 544,922 653,990
1,814,208 1,332,108
CREDITORS
Amounts falling due within one year 8 (859,194 ) (624,676 )
NET CURRENT ASSETS 955,014 707,432
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,267,353

1,028,146

PROVISIONS FOR LIABILITIES 190 (411 )
NET ASSETS 1,267,543 1,027,735

CAPITAL AND RESERVES
Called up share capital 100 100
Capital redemption reserve 30 30
Retained earnings 1,267,413 1,027,605
SHAREHOLDERS' FUNDS 1,267,543 1,027,735

Stovesonline Limited (Registered number: 04636920)

Balance Sheet - continued
31 March 2023


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.

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 November 2023 and were signed on its behalf by:





J S Nightingale - Director


Stovesonline Limited (Registered number: 04636920)

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


1. STATUTORY INFORMATION

Stovesonline 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 (£).

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents amounts chargeable in respect of the sale of goods falling within the company's ordinary activities.

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.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% straight line
Right of use assets - 20% straight line
Plant and machinery - 20% straight line
Computer equipment - 20% straight line

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

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.


Stovesonline Limited (Registered number: 04636920)

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


3. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 18 ) .

5. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 April 2022
and 31 March 2023 1,400
AMORTISATION
At 1 April 2022
and 31 March 2023 1,399
NET BOOK VALUE
At 31 March 2023 1
At 31 March 2022 1

Stovesonline Limited (Registered number: 04636920)

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


6. TANGIBLE FIXED ASSETS
Right of
Freehold use Plant and Computer
property assets machinery equipment Totals
£    £    £    £    £   
COST
At 1 April 2022
and 31 March 2023 390,443 5,885 53,282 72,406 522,016
DEPRECIATION
At 1 April 2022 74,380 5,885 53,075 67,963 201,303
Charge for year 6,319 - 207 1,849 8,375
At 31 March 2023 80,699 5,885 53,282 69,812 209,678
NET BOOK VALUE
At 31 March 2023 309,744 - - 2,594 312,338
At 31 March 2022 316,063 - 207 4,443 320,713

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 88,120 37,106
Other debtors 222 676
Tax - 6,919
Deferred tax asset 238 -
Prepayments and accrued income 7,169 6,481
95,749 51,182

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 8,105 -
Trade creditors 497,124 228,684
Tax 76,731 47,244
Social security and other taxes 17,828 17,028
VAT 83,466 143,585
Other creditors 150,936 82,626
Directors' current accounts 17,125 97,125
Accruals and deferred income 7,879 8,384
859,194 624,676