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REGISTERED NUMBER: 04670062 (England and Wales)










Unaudited Financial Statements for the Year Ended 28 February 2024

for

Roy Terry Fireplaces Limited

Roy Terry Fireplaces Limited (Registered number: 04670062)






Contents of the Financial Statements
for the Year Ended 28 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Roy Terry Fireplaces Limited

Company Information
for the Year Ended 28 February 2024







DIRECTORS: R Terry
L Terry
Miss J Terry





SECRETARY: Miss J Terry





REGISTERED OFFICE: 75 Springfield Road
Chelmsford
Essex
CM2 6JB





REGISTERED NUMBER: 04670062 (England and Wales)





ACCOUNTANTS: NSO Associates LLP
75 Springfield Road
Chelmsford
Essex
CM2 6JB

Roy Terry Fireplaces Limited (Registered number: 04670062)

Balance Sheet
28 February 2024

28.2.23 28.2.24
£    £    Notes £    £   
FIXED ASSETS
- Intangible assets 4 -
12,858 Tangible assets 5 9,645
12,858 9,645

CURRENT ASSETS
12,550 Stocks 13,077
2,025 Debtors 6 2,858
62,761 Cash at bank and in hand 49,145
77,336 65,080
CREDITORS
51,891 Amounts falling due within one year 7 57,082
25,445 NET CURRENT ASSETS 7,998
38,303 TOTAL ASSETS LESS CURRENT
LIABILITIES

17,643

CREDITORS
(22,323 ) Amounts falling due after more than one
year

8

(12,903

)

(2,443 ) PROVISIONS FOR LIABILITIES (2,411 )
13,537 NET ASSETS 2,329

CAPITAL AND RESERVES
105 Called up share capital 9 105
13,432 Retained earnings 2,224
13,537 SHAREHOLDERS' FUNDS 2,329

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 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.

Roy Terry Fireplaces Limited (Registered number: 04670062)

Balance Sheet - continued
28 February 2024


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 2 September 2024 and were signed on its behalf by:




R Terry - Director



L Terry - Director


Roy Terry Fireplaces Limited (Registered number: 04670062)

Notes to the Financial Statements
for the Year Ended 28 February 2024

1. STATUTORY INFORMATION

Roy Terry Fireplaces 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.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, was being amortised evenly over its estimated life of twenty years.
In accordance with FRS 102 as there was deemed to be no finite life this was amended to be amortised over 5 years

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 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 only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.


Roy Terry Fireplaces Limited (Registered number: 04670062)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 5 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 28 February 2024 55,000
AMORTISATION
At 1 March 2023
and 28 February 2024 55,000
NET BOOK VALUE
At 28 February 2024 -
At 28 February 2023 -

Roy Terry Fireplaces Limited (Registered number: 04670062)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023
and 28 February 2024 32,011
DEPRECIATION
At 1 March 2023 19,153
Charge for year 3,213
At 28 February 2024 22,366
NET BOOK VALUE
At 28 February 2024 9,645
At 28 February 2023 12,858

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 March 2023
and 28 February 2024 16,786
DEPRECIATION
At 1 March 2023 9,704
Charge for year 1,770
At 28 February 2024 11,474
NET BOOK VALUE
At 28 February 2024 5,312
At 28 February 2023 7,082

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Trade debtors - 291
Other debtors 2,858 1,734
2,858 2,025

Roy Terry Fireplaces Limited (Registered number: 04670062)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Bank loans and overdrafts 6,034 5,885
Hire purchase contracts 3,386 3,385
Trade creditors 28,509 25,689
Taxation and social security 12,128 8,550
Other creditors 7,025 8,382
57,082 51,891

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.24 28.2.23
£    £   
Bank loans 10,928 16,963
Hire purchase contracts 1,975 5,360
12,903 22,323

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.24 28.2.23
value: £    £   
100 Ordinary A £1 100 100
1 Ordinary B £1 1 1
1 Ordinary C £1 1 1
1 Ordinary D £1 1 1
1 Ordinary E £1 1 1
1 Ordinary F £1 1 1
105 105