Henley Stoves & Fireplaces Limited iXBRL

Company Registration Number: 09890555

Henley Stoves & Fireplaces Limited

Annual Report and Financial Statements

for the financial year ended 31 December 2024

Henley Stoves & Fireplaces Limited

DIRECTORS AND OTHER INFORMATION


Directors	Neil Fitzgibbon
	Paul Fitzgibbon


Company Secretary	Neil Fitzgibbon


Company Registration Number	09890555


Registered Office and Business Address	Half Acre Industrial Estate Straight Furlong
	Pymoor Ely Cambridgeshire
	CB6 2EG


Independent Auditors	CSG Professional Services UK Limited
	Chartered Certified Accountants and Statutory Auditors
	3 Day Place
	Tralee
	Co. Kerry
	Ireland


Bankers	Natwest
	Cambridge Market Street
	23 Market Street
	Cambridge
	CB2 3PU

Henley Stoves & Fireplaces Limited

DIRECTORS' REPORT

for the financial year ended 31 December 2024

The directors present their report and the audited financial statements for the financial year ended 31 December 2024.

Principal Activity

The principal activity of the company is that of the sale of stoves and fireplaces.

Results and Dividends

The profit for the financial year after providing for taxation amounted to £66,316 (2023 - £108,223).

Directors

The directors who served during the financial year are as follows:

Neil Fitzgibbon

Paul Fitzgibbon

There were no changes in shareholdings between 31 December 2024 and the date of signing the financial statements.

Political Contributions

The company did not make any disclosable political donations in the current financial year.

Statement of Directors' Responsibilities

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” Section 1A (Small Entities). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and apply them consistently;

-make judgements and accounting estimates that are reasonable and prudent;

-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of Information to Auditor
Each persons who are directors at the date of approval of this report confirms that:
In so far as the directors are aware:
-there is no relevant audit information (information needed by the company's auditor in connection with preparing the auditor's report) of which the company's auditor is unaware, and
-the directors have taken all the steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

Auditors

The auditors, CSG Professional Services UK Limited, (Chartered Certified Accountants) have indicated their willingness to continue in office in accordance with the provisions of Section 485 of the Companies Act 2006.

Special provisions relating to small companies

The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

On behalf of the board

___________________________

Neil Fitzgibbon

Paul Fitzgibbon

Director

30 May 2025

INDEPENDENT AUDITOR'S REPORT

to the Shareholders of Henley Stoves & Fireplaces Limited

Report on the audit of the financial statements

Opinion

We have audited the financial statements of Henley Stoves & Fireplaces Limited ('the company') for the financial year ended 31 December 2024 which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes to the financial statements, including significant accounting policies set out in note . The financial reporting framework that has been applied in their preparation is applicable Law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” Section 1A (Small Entities).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the financial year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from the date when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the annual report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Directors' Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified any material misstatements in the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept; or

the financial statements are not in agreement with the accounting records and returns; or

certain disclosures of directors' remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit; or

the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the Directors' Report.

Responsibilities of directors for the financial statements

The directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- Enquiry of management around actual and potential litigation and claims;
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; and
- Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, and reviewing accounting estimates for bias.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

A further description of our responsibilities for the audit of the financial statements is contained in the appendix to this report, located at page , which is to be read as an integral part of our report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Trevor McKenna (Senior Statutory Auditor)

for and on behalf of

CSG PROFESSIONAL SERVICES UK LIMITED

Chartered Certified Accountants and Statutory Auditors

3 Day Place

Tralee

Co. Kerry

Ireland

30 May 2025

Henley Stoves & Fireplaces Limited

APPENDIX TO THE INDEPENDENT AUDITOR'S REPORT

Further information regarding the scope of our responsibilities as auditor

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditor's Report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditor's Report. However, future events or conditions may cause the company to cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Henley Stoves & Fireplaces Limited

PROFIT AND LOSS ACCOUNT

for the financial year ended 31 December 2024

	2024	2023
Notes	£	£

Turnover	686,162	904,489

Cost of sales	(469,883)	(588,203)
	─────────	─────────
Gross profit	216,279	316,286

Administrative expenses	(125,609)	(171,489)
	─────────	─────────
Operating profit	90,670	144,797

Interest payable and similar expenses	(2,041)	(3,372)
	─────────	─────────
Profit before taxation	88,629	141,425

Tax on profit	(22,313)	(33,202)
	─────────	─────────
Profit for the financial year	66,316	108,223
	═════════	═════════

Henley Stoves & Fireplaces Limited

Company Registration Number: 09890555

BALANCE SHEET

as at 31 December 2024

		2024	2023
	Notes	£	£

Current Assets

Stocks

156,429

268,446

Debtors

93,959

100,129

Cash and cash equivalents

316,428

280,900

─────────

566,816

649,475

─────────

Creditors: amounts falling due within one year

(264,628)

(413,603)

─────────

Net Current Assets

302,188

235,872

─────────

Total Assets less Current Liabilities

302,188

235,872

═════════

Capital and Reserves

Called up share capital

100

100

Retained earnings

302,088

235,772

─────────

Equity attributable to owners of the company

302,188

235,872

═════════

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).

Approved by the Board and authorised for issue on 30 May 2025 and signed on its behalf by




________________________________			________________________________
Neil Fitzgibbon			Paul Fitzgibbon
Director			Director

Henley Stoves & Fireplaces Limited

STATEMENT OF CHANGES IN EQUITY

as at 31 December 2024

	Called up	Retained	Total
	share	earnings
	capital
	£	£	£

At 1 January 2023	100	127,549	127,649
	─────────	─────────	─────────
Profit for the financial year	-	108,223	108,223
	─────────	─────────	─────────
At 31 December 2023	100	235,772	235,872
	─────────	─────────	─────────
Profit for the financial year	-	66,316	66,316
	─────────	─────────	─────────
At 31 December 2024	100	302,088	302,188
	═════════	═════════	═════════

Henley Stoves & Fireplaces Limited

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 December 2024

General Information

Henley Stoves & Fireplaces Limited is a company limited by shares incorporated and registered in the United Kingdom. The registered number of the company is 09890555. The registered office of the company is Half Acre Industrial Estate Straight Furlong, Pymoor Ely Cambridgeshire, CB6 2EG which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the year ended 31 December 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Turnover

Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.

Provisions

Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.

Stocks

Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Taxation and deferred taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

Significant accounting judgements and key sources of estimation uncertainty

Estimates and judgements made in the process of preparing the entity financial statements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

(a) Critical judgement in applying the entity’s accounting policies
There are no judgments, apart from those involving estimates, involved in the preparation of financial statements.

(b) Critical accounting estimates and assumptions
The company has not made any estimates and assumptions that would have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Employees

The average monthly number of employees, including directors, during the financial year was 0, (2023 - 1).


5.	Stocks	2024	2023
		£	£

	Finished goods and goods for resale	156,429	268,446
		═════════	═════════

	The replacement cost of stock did not differ significantly from the figures shown.

Debtors

2024

2023

Trade debtors

88,027

58,129

Prepayments and accrued income

5,932

42,000

─────────

93,959

100,129

═════════

All debtors are due within one year. Debtors are shown net of impairment for bad debts of £205 (2023: £4,150). Bad debts expensed to the profit and loss in the year was -£3,945 (2023: £2,583).

Prepayments and accrued income are based on the underlying contracts.

Creditors

2024

2023

Amounts falling due within one year

Trade creditors

22,186

25,820

Amounts owed to group undertakings

164,364

304,122

Taxation (Note 8)

69,888

72,045

Accruals

8,190

11,616

─────────

264,628

413,603

═════════

The repayment terms of trade creditors vary between on demand and ninety days. No interest is payable on trade creditors.

Tax and national insurance are subject to the terms of the relevant legislation. Interest accrues on late payments at rates predetermined by the HMRC. No interest was due at the financial year end date.

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

The terms of the accruals are based on the underlying contracts.


8.	Taxation	2024	2023
		£	£

	Creditors:
	VAT	47,731	38,937
	Corporation tax	22,157	33,108
		─────────	─────────
		69,888	72,045
		═════════	═════════

Capital commitments

The company had no material capital commitments at the financial year-ended 31 December 2024.

10.

Related party transactions

The company has availed of the exemption under FRS 102 Section 1A in relation to the disclosure of transactions with group undertakings.

11.

Parent company

The company regards Ard-Ri Marble Mantelpieces Limited as its parent company.

The companys ultimate parent undertaking is Ard-Ri Premier Limited.

The address of Ard-Ri Premier Limited is Curraheen Co Kerry Ireland.

The parent of the largest group in which the results are consolidated is Ard-Ri Premier Limited.

Ard-Ri Premier Limited is registered in Ireland.

12.

Post-Balance Sheet Events

There have been no significant events affecting the company since the financial year-end.

Henley Stoves & Fireplaces Limited

SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS

TRADING STATEMENT

for the financial year ended 31 December 2024

	2024		2023
	£		£

Sales

686,162

904,489

─────────

Cost of sales

Opening stock

268,446

87,453

Purchases

331,296

686,789

Carriage inwards

35,878

68,531

Profit/loss on foreign currency

(9,308)

13,876

─────────

626,312

856,649

Closing stock

(156,429)

(268,446)

─────────

469,883

588,203

─────────

Gross profit

216,279

316,286

─────────

Gross profit Percentage

31.5%

35.0%

─────────

Administrative expenses

Management charge

70,484

92,508

Insurance

1,858

Repairs and maintenance

4,251

300

Advertising

1,668

1,955

Telephone

1,335

Motor expenses

(37)

Consultancy fees

41,214

60,063

Bank charges

1,769

Bad debts

(3,945)

2,583

General expenses

(1)

Subscriptions

3,456

1,875

Auditor's remuneration

6,713

9,049

─────────

125,609

171,489

─────────

Finance

Bank interest and charges	2,041	3,372
	─────────	─────────

Net profit	88,629	141,425
	═════════	═════════