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REGISTERED NUMBER: 02427017 (England and Wales)










Unaudited Financial Statements

for the Year Ended 29th October 2023

for

Theale Fireplaces (Reading) Limited

Theale Fireplaces (Reading) Limited (Registered number: 02427017)






Contents of the Financial Statements
for the Year Ended 29th October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Theale Fireplaces (Reading) Limited

Company Information
for the Year Ended 29th October 2023







DIRECTOR: Mrs J B Woosnam





REGISTERED OFFICE: Milehouse Farm Bath Road
Sulhamstead
Reading
Berkshire
RG7 5HJ





REGISTERED NUMBER: 02427017 (England and Wales)





ACCOUNTANTS: Bew & Co Limited
Chartered Accountants
130 High Street
Marlborough
Wiltshire
SN8 1LZ

Theale Fireplaces (Reading) Limited (Registered number: 02427017)

Balance Sheet
29th October 2023

29.10.23 29.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 29,773 2,553
Investment property 5 300,000 300,000
329,773 302,553

CURRENT ASSETS
Stocks 217,830 229,850
Debtors 6 138,856 117,865
Cash at bank 1 14,457
356,687 362,172
CREDITORS
Amounts falling due within one year 7 252,236 259,831
NET CURRENT ASSETS 104,451 102,341
TOTAL ASSETS LESS CURRENT
LIABILITIES

434,224

404,894

CREDITORS
Amounts falling due after more than one
year

8

(34,617

)

(40,432

)

PROVISIONS FOR LIABILITIES (62,289 ) (57,078 )
NET ASSETS 337,318 307,384

CAPITAL AND RESERVES
Called up share capital 25,000 25,000
Retained earnings 312,318 282,384
337,318 307,384

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Theale Fireplaces (Reading) Limited (Registered number: 02427017)

Balance Sheet - continued
29th 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 director and authorised for issue on 29th July 2024 and were signed by:





Mrs J B Woosnam - Director


Theale Fireplaces (Reading) Limited (Registered number: 02427017)

Notes to the Financial Statements
for the Year Ended 29th October 2023

1. STATUTORY INFORMATION

Theale Fireplaces (Reading) 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 (£).


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 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.
Plant and machinery - 20% on cost
Motor vehicles - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Theale Fireplaces (Reading) Limited (Registered number: 02427017)

Notes to the Financial Statements - continued
for the Year Ended 29th October 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 30th October 2022 91,207
Additions 29,495
At 29th October 2023 120,702
DEPRECIATION
At 30th October 2022 88,654
Charge for year 2,275
At 29th October 2023 90,929
NET BOOK VALUE
At 29th October 2023 29,773
At 29th October 2022 2,553

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 30th October 2022
and 29th October 2023 300,000
NET BOOK VALUE
At 29th October 2023 300,000
At 29th October 2022 300,000

Fair value at 29th October 2023 is represented by:
£   
Valuation in 2010 19,000
Valuation in 2014 104,998
Valuation in 2015 55,000
Valuation in 2017 220,000
Valuation in 2022 (100,000 )
Cost 1,002
300,000

Theale Fireplaces (Reading) Limited (Registered number: 02427017)

Notes to the Financial Statements - continued
for the Year Ended 29th October 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.10.23 29.10.22
£    £   
Trade debtors 8,809 8,809
Amounts recoverable on contract 52,108 13,191
Other debtors 77,939 95,865
138,856 117,865

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.10.23 29.10.22
£    £   
Bank loans and overdrafts 46,862 10,565
Hire purchase contracts 2,717 3,816
Trade creditors 103,366 47,402
Taxation and social security 3,365 3,015
Other creditors 95,926 195,033
252,236 259,831

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.10.23 29.10.22
£    £   
Bank loans 33,342 39,157
Hire purchase contracts 1,275 1,275
34,617 40,432