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REGISTERED NUMBER: 09397201 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

NORWICH FIREPLACES AND WOODBURNERS LTD

NORWICH FIREPLACES AND WOODBURNERS LTD (REGISTERED NUMBER: 09397201)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NORWICH FIREPLACES AND WOODBURNERS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: W A Poter
N Poter
T Gleave





REGISTERED OFFICE: 16 Sunningdale Road
Chelmsford
Essex
CM1 2NH





REGISTERED NUMBER: 09397201 (England and Wales)





ACCOUNTANTS: Seago and Stopps
Chartered Certified Accountants
61 Station Road
Sudbury
Suffolk
CO10 2SP

NORWICH FIREPLACES AND WOODBURNERS LTD (REGISTERED NUMBER: 09397201)

BALANCE SHEET
31 DECEMBER 2023

31.12.22 31.12.23
£    £    Notes £    £   
FIXED ASSETS
198,417 Tangible assets 4 200,624

CURRENT ASSETS
15,000 Stocks 15,000
203,601 Debtors 5 237,176
154,528 Cash at bank and in hand 164,122
373,129 416,298
CREDITORS
361,079 Amounts falling due within one year 6 329,210
12,050 NET CURRENT ASSETS 87,088
210,467 TOTAL ASSETS LESS CURRENT
LIABILITIES

287,712

CREDITORS
(56,290 ) Amounts falling due after more than one
year

7

(44,276

)

(3,224 ) PROVISIONS FOR LIABILITIES (8,217 )
150,953 NET ASSETS 235,219

CAPITAL AND RESERVES
200 Called up share capital 200
150,753 Retained earnings 235,019
150,953 SHAREHOLDERS' FUNDS 235,219

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

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

NORWICH FIREPLACES AND WOODBURNERS LTD (REGISTERED NUMBER: 09397201)

BALANCE SHEET - continued
31 DECEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by:





N Poter - Director


NORWICH FIREPLACES AND WOODBURNERS LTD (REGISTERED NUMBER: 09397201)

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

1. STATUTORY INFORMATION

Norwich Fireplaces and Woodburners 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 represents the value of invoiced sales and the movement between opening and closing trade debtor balances.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 4% on cost
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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
The company enters into basic financial instrument transactions, as appropriate and as and when required, that result in the recognition of financial assets and liabilities within the financial statements such as trade and other accounts receivable and payable, bank loans and hire purchase and lease contracts.

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.


NORWICH FIREPLACES AND WOODBURNERS LTD (REGISTERED NUMBER: 09397201)

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

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
Totals property machinery vehicles equipment
£    £    £    £    £   
COST
At 1 January 2023 320,390 253,837 2,288 59,084 5,181
Additions 27,942 - 585 25,718 1,639
Disposals (15,559 ) - - (15,559 ) -
At 31 December 2023 332,773 253,837 2,873 69,243 6,820
DEPRECIATION
At 1 January 2023 121,973 78,721 1,653 38,084 3,515
Charge for year 22,043 10,153 305 10,757 828
Eliminated on disposal (11,867 ) - - (11,867 ) -
At 31 December 2023 132,149 88,874 1,958 36,974 4,343
NET BOOK VALUE
At 31 December 2023 200,624 164,963 915 32,269 2,477
At 31 December 2022 198,417 175,116 635 21,000 1,666

Included in the above is one motor vehicle held under a hire purchase agreement. As at 31 December 2023 the net book value of the vehicle is £19,289 (2022 - £3,692) and the related depreciation charge for the year is £6,429 (2022 - £1,231).

NORWICH FIREPLACES AND WOODBURNERS LTD (REGISTERED NUMBER: 09397201)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 14,947 18,689
Amounts owed by associates 218,094 181,094
Other debtors 4,135 3,818
237,176 203,601

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 31,099 30,223
Hire purchase contracts 5,219 2,852
Trade creditors 228,113 235,777
Taxation and social security 61,965 88,830
Other creditors 2,814 3,397
329,210 361,079

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 25,141 56,290
Hire purchase contracts 19,135 -
44,276 56,290

8. SECURED DEBTS

Part of the bank loan debt is a secured creditor in favour of Lloyds Bank PLC. The creditor is secured against the company's freehold property.

Part of the bank loan debt is unsecured, being a Bounce Back loan drawn down during the Covid-19 pandemic.

Hire purchase contract liabilities are secured against the asset for which the liability arises.