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REGISTERED NUMBER: 10197844 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

CANNOCK FIREPLACES AND STOVES LTD

CANNOCK FIREPLACES AND STOVES LTD (REGISTERED NUMBER: 10197844)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


CANNOCK FIREPLACES AND STOVES LTD (REGISTERED NUMBER: 10197844)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,647 17,921

CURRENT ASSETS
Stocks 21,971 25,457
Debtors 5 77,652 121,097
Cash at bank 226,394 271,128
326,017 417,682
CREDITORS
Amounts falling due within one year 6 113,040 131,022
NET CURRENT ASSETS 212,977 286,660
TOTAL ASSETS LESS CURRENT
LIABILITIES

227,624

304,581

CREDITORS
Amounts falling due after more than one year 7 (2,607 ) (5,451 )

PROVISIONS FOR LIABILITIES (3,930 ) -
NET ASSETS 221,087 299,130

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 220,987 299,030
221,087 299,130

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

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

CANNOCK FIREPLACES AND STOVES LTD (REGISTERED NUMBER: 10197844)

Balance Sheet - continued
31 May 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 20 February 2025 and were signed on its behalf by:





Mr R Pritchard - Director


CANNOCK FIREPLACES AND STOVES LTD (REGISTERED NUMBER: 10197844)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Cannock Fireplaces and Stoves Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10197844

Registered office: 7 Marconi Gate
Stafford
Staffordshire
ST18 0FZ

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.

Turnover is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

Stocks
Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.


CANNOCK FIREPLACES AND STOVES LTD (REGISTERED NUMBER: 10197844)

Notes to the Financial Statements - continued
for the Year Ended 31 May 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
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 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023 - 27,365 4,762 32,127
Additions 899 - 2,800 3,699
At 31 May 2024 899 27,365 7,562 35,826
DEPRECIATION
At 1 June 2023 - 9,998 4,208 14,206
Charge for year 180 5,473 1,320 6,973
At 31 May 2024 180 15,471 5,528 21,179
NET BOOK VALUE
At 31 May 2024 719 11,894 2,034 14,647
At 31 May 2023 - 17,367 554 17,921

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 51,937 94,755
Other debtors 25,715 26,342
77,652 121,097

CANNOCK FIREPLACES AND STOVES LTD (REGISTERED NUMBER: 10197844)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 2,844 2,844
Trade creditors 11,409 13,019
Taxation and social security 97,758 109,069
Other creditors 1,029 6,090
113,040 131,022

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 2,607 5,451