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REGISTERED NUMBER: 04636920 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 March 2024

for

STOVESONLINE LIMITED

STOVESONLINE LIMITED (REGISTERED NUMBER: 04636920)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STOVESONLINE LIMITED

Company Information
FOR THE YEAR ENDED 31 MARCH 2024







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
3 Southernhay West
Exeter
Devon
EX1 1JG

STOVESONLINE LIMITED (REGISTERED NUMBER: 04636920)

Balance Sheet
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 5 1 1
Tangible assets 6 306,756 312,338
306,757 312,339

CURRENT ASSETS
Stocks 969,835 1,173,537
Debtors 7 44,022 95,749
Cash at bank and in hand 336,037 544,922
1,349,894 1,814,208
CREDITORS
Amounts falling due within one year 8 (399,777 ) (859,194 )
NET CURRENT ASSETS 950,117 955,014
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,256,874

1,267,353

PROVISIONS FOR LIABILITIES (449 ) 190
NET ASSETS 1,256,425 1,267,543

CAPITAL AND RESERVES
Called up share capital 100 100
Capital redemption reserve 30 30
Retained earnings 1,256,295 1,267,413
SHAREHOLDERS' FUNDS 1,256,425 1,267,543

STOVESONLINE LIMITED (REGISTERED NUMBER: 04636920)

Balance Sheet - continued
31 MARCH 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

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

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 October 2024 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 2024


1. COMPANY 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
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

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 on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

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 - Straight line over 23 years
Long leasehold - 20% on cost
Plant and machinery - 20% on cost
Computer equipment - 20% on cost

STOVESONLINE LIMITED (REGISTERED NUMBER: 04636920)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and net realisable value. 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.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

Cash and cash equivalents
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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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 19 (2023 - 20 ) .

STOVESONLINE LIMITED (REGISTERED NUMBER: 04636920)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 April 2023
and 31 March 2024 1,400
AMORTISATION
At 1 April 2023
and 31 March 2024 1,399
NET BOOK VALUE
At 31 March 2024 1
At 31 March 2023 1

6. TANGIBLE FIXED ASSETS
Freehold Long Plant and Computer
property leasehold machinery equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 390,443 5,885 53,282 72,406 522,016
Additions - - - 1,381 1,381
At 31 March 2024 390,443 5,885 53,282 73,787 523,397
DEPRECIATION
At 1 April 2023 80,699 5,885 53,282 69,812 209,678
Charge for year 6,195 - - 768 6,963
At 31 March 2024 86,894 5,885 53,282 70,580 216,641
NET BOOK VALUE
At 31 March 2024 303,549 - - 3,207 306,756
At 31 March 2023 309,744 - - 2,594 312,338

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 32,526 88,120
Other debtors 3,022 222
Deferred tax asset - 238
Prepayments and accrued income 8,474 7,169
44,022 95,749

STOVESONLINE LIMITED (REGISTERED NUMBER: 04636920)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 8,105
Trade creditors 183,738 497,124
Tax 5,318 76,731
Social security and other taxes 17,951 17,828
VAT 101,013 83,466
Other creditors 67,432 150,936
Directors' current accounts 17,125 17,125
Accruals and deferred income 7,200 7,879
399,777 859,194