Company registration number 10476811 (England and Wales)
FIREFLY STOVES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
FIREFLY STOVES LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
FIREFLY STOVES LTD
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
15,521
2,134
Current assets
Stocks
25,000
95,000
Debtors
10,509
7,957
Cash at bank and in hand
11,013
115,210
46,522
218,167
Creditors: amounts falling due within one year
(96,958)
(161,346)
Net current (liabilities)/assets
(50,436)
56,821
Total assets less current liabilities
(34,915)
58,955
Creditors: amounts falling due after more than one year
(51,174)
(38,334)
Net (liabilities)/assets
(86,089)
20,621
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(86,090)
20,620
Total equity
(86,089)
20,621

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

FIREFLY STOVES LTD
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2023
30 November 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 23 August 2024
Mr A P Muir
Director
Company registration number 10476811 (England and Wales)
FIREFLY STOVES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
1
Accounting policies
Company information

Firefly Stoves Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 325 Underhill Road, London, SE22 9EA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
33% straight line
Fixtures and fittings
25% straight line
Motor vehicles
25% reducing balance
FIREFLY STOVES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
3
3
FIREFLY STOVES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 5 -
3
Tangible fixed assets
Total
£
Cost
At 1 December 2022
17,056
Additions
20,000
At 30 November 2023
37,056
Depreciation and impairment
At 1 December 2022
14,921
Depreciation charged in the year
6,614
At 30 November 2023
21,535
Carrying amount
At 30 November 2023
15,521
At 30 November 2022
2,134
Last year c/fwd depreciation
Differs from this year b/fwd by
2023-11-302022-12-01falseCCH SoftwareCCH Accounts Production 2024.100No description of principal activityMr Angus Phillip Muirfalsefalse104768112022-12-012023-11-30104768112023-11-30104768112022-11-3010476811core:CurrentFinancialInstrumentscore:WithinOneYear2023-11-3010476811core:CurrentFinancialInstrumentscore:WithinOneYear2022-11-3010476811core:Non-currentFinancialInstrumentscore:AfterOneYear2023-11-3010476811core:Non-currentFinancialInstrumentscore:AfterOneYear2022-11-3010476811core:ShareCapital2023-11-3010476811core:ShareCapital2022-11-3010476811core:RetainedEarningsAccumulatedLosses2023-11-3010476811core:RetainedEarningsAccumulatedLosses2022-11-3010476811bus:Director12022-12-012023-11-3010476811core:PlantMachinery2022-12-012023-11-3010476811core:FurnitureFittings2022-12-012023-11-3010476811core:MotorVehicles2022-12-012023-11-30104768112021-12-012022-11-30104768112022-11-3010476811bus:PrivateLimitedCompanyLtd2022-12-012023-11-3010476811bus:SmallCompaniesRegimeForAccounts2022-12-012023-11-3010476811bus:FRS1022022-12-012023-11-3010476811bus:AuditExempt-NoAccountantsReport2022-12-012023-11-3010476811bus:FullAccounts2022-12-012023-11-30xbrli:purexbrli:sharesiso4217:GBP