10858662falseManufacture of central heating radiators and boilers2024-04-012025-03-31http://www.companieshouse.gov.uk/2024-03-31http://www.companieshouse.gov.uk/pt:ShareCapital2024-03-31http://www.companieshouse.gov.uk/cd:Director12024-04-012025-03-31http://www.companieshouse.gov.uk/pt:ShareCapital2025-03-31http://www.companieshouse.gov.uk/cd:Director22024-04-012025-03-31http://www.companieshouse.gov.uk/cd:Director32024-04-012025-03-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12024-04-012025-03-31http://www.companieshouse.gov.uk/pt:DevelopmentCostsCapitalisedDevelopmentExpenditure2025-03-31http://www.companieshouse.gov.uk/cd:RegisteredOffice2024-04-012025-03-31http://www.companieshouse.gov.uk/pt:NetGoodwill2025-03-31http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2024-04-012025-03-31http://www.companieshouse.gov.uk/pt:DevelopmentCostsCapitalisedDevelopmentExpenditure2024-04-012025-03-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2025-03-31http://www.companieshouse.gov.uk/pt:NetGoodwill2024-04-012025-03-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2024-03-31http://www.companieshouse.gov.uk/2024-04-012025-03-31http://www.companieshouse.gov.uk/2024-03-31http://www.companieshouse.gov.uk/cd:FRS1022024-04-012025-03-31http://www.companieshouse.gov.uk/2025-03-31http://www.companieshouse.gov.uk/cd:FullAccounts2024-04-012025-03-31http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2024-04-012025-03-31iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 10858662
Chilli Penguin Stoves Ltd
ACCOUNTS
FOR THE YEAR ENDED 31/03/2025
Prepared By:
John Tudor
Chartered Certified Accountant
3 Kingshead
Pwllheli
Gwynedd
LL53 5DR
Chilli Penguin Stoves Ltd
ACCOUNTS
FOR THE YEAR ENDED 31/03/2025
DIRECTORS
Stephen Charles Harman
Karen Ruth Harris
James Portsmouth
REGISTERED OFFICE
11-13 Glan Y Don Industrial Estate
Pwllheli
Gwynedd
LL53 5YT
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 10858662
ACCOUNTANTS
John Tudor
Chartered Certified Accountant
3 Kingshead
Pwllheli
Gwynedd
LL53 5DR
Chilli Penguin Stoves Ltd
ACCOUNTS
FOR THEYEARENDED31/03/2025
CONTENTS
Page
Directors' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
Chilli Penguin Stoves Ltd
BALANCE SHEET AT 31/03/2025
20252024
Notes££
FIXED ASSETS
Tangible assets3221,960249,116
CURRENT ASSETS
Stock88,74599,846
Debtors548,71044,515
Cash at bank and in hand102,36198,138
239,816242,499
CREDITORS: Amounts falling due within one year6164,448175,401
NET CURRENT ASSETS75,36867,098
TOTAL ASSETS LESS CURRENT LIABILITIES297,328316,214
CAPITAL AND RESERVES
Called up share capital8100100
Profit and loss account297,228316,114
SHAREHOLDERS' FUNDS297,328316,214
For the year ending 31/03/2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 23/12/2025 and signed on their behalf by
.............................
Stephen Charles Harman
Director
.............................
Karen Ruth Harris
Director
Chilli Penguin Stoves Ltd
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/03/2025
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Land And Buildingsreducing balance 2.5%
Plant and Machineryreducing balance 25%
Commercial Vehiclesreducing balance 25%
Fixtures and Fittingsreducing balance 15%
Equipmentreducing balance 25%
Motor Carsreducing balance 25%
1c. Intangible Assets
Development expenditure is normally written off in the year of expenditure, however expenditure incurred on specific projects is capitalised when recoverability can be foreseen with reasonable certainty and is amortised in relation to sales from such projects.
The existing development costs will be expended by 2022 when new regulations are coming into effect.
1d. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1e. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
Chilli Penguin Stoves Ltd
1f. Goodwill
Goodwill arising in connection with the acquisition of businesses is capitalised and amortised over its estimated economic life to a maximum of 5 years. Goodwill is reviewed annually for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable.
Due to new regulation being introduced in 2022, new models will have to be designed and tested. The directors therefore feel that it is prudent that the existing goodwill could be valued at zero within the next two years.
1g. Revenue Recognition
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.
2. INTANGIBLE FIXED ASSETS
DevelopmentPurchased
CostsGoodwillTotal
£££
Cost
At 01/04/20248,00062,16170,161
At 31/03/20258,00062,16170,161
Depreciation
At 01/04/20248,00062,16170,161
At 31/03/20258,00062,16170,161
Net Book Amounts
At 31/03/2025---
Chilli Penguin Stoves Ltd
3. TANGIBLE FIXED ASSETS
Land AndPlant and
BuildingsMachinery Etc.Total
£££
Cost
At 01/04/2024140,000242,170382,170
Additions-17,22917,229
Disposals-(29,620)(29,620)
At 31/03/2025140,000229,779369,779
Depreciation
At 01/04/20248,274124,780133,054
Disposals-(20,248)(20,248)
For the year3,95231,06135,013
At 31/03/202512,226135,593147,819
Net Book Amounts
At 31/03/2025127,77494,186221,960
At 31/03/2024131,726117,390249,116
4. STOCK 20252024
££
Stock comprises:
Stock88,74599,846
88,74599,846
5. DEBTORS 20252024
££
Amounts falling due within one year:
Trade debtors48,71030,942
Other Tax-12,458
Other debtors-1,115
48,71044,515
Chilli Penguin Stoves Ltd
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20252024
££
Bank loans and overdrafts16,54221,667
Trade creditors126,254105,817
Taxation and social security17,13743,765
Other creditors4,5154,152
164,448175,401
7. EMPLOYEES
20252024
No.No.
Average number of employees2224
8. SHARE CAPITAL 20252024
££
Allotted, issued and fully paid:
100 Ordinary shares of £1 each100100
100100