General Information
WENDRON STOVES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11150057, registration address Mallow Court, Wendron, Helston, Cornwall, TR13 0NA.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 20 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Plant and Machinery |
10 Straight Line
|
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
| 2. |
Average number of employees
Average number of employees during the year was 15 (2024 : 15).
|
| 3. |
Intangible fixed assets
| Cost |
Goodwill |
|
Total |
| |
£ |
|
£ |
| At 01 April 2024 |
140,000 |
|
140,000 |
| Additions |
- |
|
- |
| Disposals |
- |
|
- |
| At 31 March 2025 |
140,000 |
|
140,000 |
| Amortisation |
| At 01 April 2024 |
42,000 |
|
42,000 |
| Charge for year |
7,000 |
|
7,000 |
| On disposals |
- |
|
- |
| At 31 March 2025 |
49,000 |
|
49,000 |
| Net book values |
| At 31 March 2025 |
91,000 |
|
91,000 |
| At 31 March 2024 |
98,000 |
|
98,000 |
|
| 4. |
Tangible fixed assets
| Cost or valuation |
Plant and Machinery |
|
Total |
| |
£ |
|
£ |
| At 01 April 2024 |
216,923 |
|
216,923 |
| Additions |
45,885 |
|
45,885 |
| Disposals |
(13,976) |
|
(13,976) |
| At 31 March 2025 |
248,832 |
|
248,832 |
| Depreciation |
| At 01 April 2024 |
57,500 |
|
57,500 |
| Charge for year |
21,291 |
|
21,291 |
| On disposals |
(6,286) |
|
(6,286) |
| At 31 March 2025 |
72,505 |
|
72,505 |
| Net book values |
| Closing balance as at 31 March 2025 |
176,327 |
|
176,327 |
| Opening balance as at 01 April 2024 |
159,423 |
|
159,423 |
|
| 5. |
Stocks
|
2025
£ |
|
2024
£ |
| Stocks |
510,937 |
|
632,627 |
|
510,937 |
|
632,627 |
|
| 6. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Debtors |
17,893 |
|
10,503 |
| Prepayments & Accrued Income |
9,157 |
|
12,688 |
| Other Debtors |
32,316 |
|
0 |
|
59,366 |
|
23,191 |
|
| 7. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Creditors |
267,822 |
|
242,117 |
| Bank Loans & Overdrafts |
13,333 |
|
10,000 |
| Corporation Tax |
0 |
|
60,187 |
| PAYE & Social Security |
11,047 |
|
11,113 |
| Accrued Expenses |
10,672 |
|
11,260 |
| Deferred Grants |
3,500 |
|
4,000 |
| Other Creditors |
102,680 |
|
63,889 |
| Directors' Current Accounts |
40,075 |
|
15,505 |
| VAT |
21,381 |
|
35,703 |
|
470,510 |
|
453,774 |
|
| 8. |
Creditors: amount falling due after more than one year
|
2025
£ |
|
2024
£ |
| Bank Loans & Overdrafts |
0 |
|
13,333 |
|
0 |
|
13,333 |
|
2
|