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REGISTERED NUMBER: SC411793 (Scotland)











Financial Statements for the Year Ended 31st March 2024

for

The Stove Network (Trading) Limited

The Stove Network (Trading) Limited (Registered number: SC411793)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 4


The Stove Network (Trading) Limited

Company Information
for the Year Ended 31st March 2024







DIRECTORS: L Fitzpatrick
M A P Baker





REGISTERED OFFICE: 100 High Street
Dumfries
DG1 2BJ





REGISTERED NUMBER: SC411793 (Scotland)





AUDITORS: Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ

The Stove Network (Trading) Limited (Registered number: SC411793)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,464 18,267

CURRENT ASSETS
Stocks 2,359 1,809
Debtors 5 6,343 2,792
Cash at bank and in hand 2,363 6,622
11,065 11,223
CREDITORS
Amounts falling due within one year 6 10,440 6,639
NET CURRENT ASSETS 625 4,584
TOTAL ASSETS LESS CURRENT LIABILITIES 24,089 22,851

ACCRUALS AND DEFERRED INCOME 20,185 13,164
NET ASSETS 3,904 9,687

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 3,903 9,686
3,904 9,687

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 Board of Directors and authorised for issue on 8th November 2024 and were signed on its behalf by:





L Fitzpatrick - Director


The Stove Network (Trading) Limited (Registered number: SC411793)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

The Stove Network (Trading) Limited is a private company, limited by shares , registered in Scotland. 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with group companies.

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.

Amounts written off each asset over the estimated useful life represent cost less residual value.

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.

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 9 (2023 - 8 ) .

The Stove Network (Trading) Limited (Registered number: SC411793)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2023 25,531
Additions 9,852
At 31st March 2024 35,383
DEPRECIATION
At 1st April 2023 7,264
Charge for year 4,655
At 31st March 2024 11,919
NET BOOK VALUE
At 31st March 2024 23,464
At 31st March 2023 18,267

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 1,360 2,642
Other debtors 4,983 150
6,343 2,792

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 4,756 3,507
Taxation and social security 5,684 3,060
Other creditors - 72
10,440 6,639

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Rodney Palmer, BA CA (Senior Statutory Auditor)
for and on behalf of Farries Kirk & McVean