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REGISTERED NUMBER: 09813063 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

NORFOLK STOVES LTD

NORFOLK STOVES LTD (REGISTERED NUMBER: 09813063)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NORFOLK STOVES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: Mrs L J Grint
Mr P R Grint





REGISTERED OFFICE: Suite 4, East Barton Barns
East Barton Road
Great Barton
Bury St Edmunds
Suffolk
IP31 2QY





REGISTERED NUMBER: 09813063 (England and Wales)





ACCOUNTANTS: Twinn Accountants Limited
Suite 4, East Barton Barns
East Barton Road
Great Barton
Bury St. Edmunds
Suffolk
IP31 2QY

NORFOLK STOVES LTD (REGISTERED NUMBER: 09813063)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 29,776 37,134

CURRENT ASSETS
Stocks 5 154,131 184,258
Debtors 6 15,882 42,847
Cash at bank and in hand 90,592 94,997
260,605 322,102
CREDITORS
Amounts falling due within one year 7 35,283 76,189
NET CURRENT ASSETS 225,322 245,913
TOTAL ASSETS LESS CURRENT
LIABILITIES

255,098

283,047

PROVISIONS FOR LIABILITIES 5,657 8,192
NET ASSETS 249,441 274,855

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 249,341 274,755
SHAREHOLDERS' FUNDS 249,441 274,855

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

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

NORFOLK STOVES LTD (REGISTERED NUMBER: 09813063)

BALANCE SHEET - continued
31 OCTOBER 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 17 March 2025 and were signed on its behalf by:





Mr P R Grint - Director


NORFOLK STOVES LTD (REGISTERED NUMBER: 09813063)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1. STATUTORY INFORMATION

Norfolk Stoves 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.

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.

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

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 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.

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.

NORFOLK STOVES LTD (REGISTERED NUMBER: 09813063)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant & Motor Computer
equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2023 16,293 40,548 3,852 60,693
Additions 511 - - 511
At 31 October 2024 16,804 40,548 3,852 61,204
DEPRECIATION
At 1 November 2023 12,726 8,110 2,723 23,559
Charge for year 816 6,488 565 7,869
At 31 October 2024 13,542 14,598 3,288 31,428
NET BOOK VALUE
At 31 October 2024 3,262 25,950 564 29,776
At 31 October 2023 3,567 32,438 1,129 37,134

5. STOCKS
2024 2023
£    £   
Stocks 154,131 184,258

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 11,228 39,114
Corporation tax 234 -
Prepayments 4,420 3,733
15,882 42,847

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 21,360 35,998
Corporation tax - 17,512
Social security and other taxes 1,033 723
VAT 6,455 12,172
Other creditors 811 763
Directors' current account 3,419 6,891
Accruals & deferred income 2,205 2,130
35,283 76,189