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REGISTERED NUMBER: 03369453 (England and Wales)

| MORLEY STOVE COMPANY LIMITED |

| UNAUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 30 APRIL 2025 |

MORLEY STOVE COMPANY LIMITED (REGISTERED NUMBER: 03369453)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

MORLEY STOVE COMPANY LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 30 APRIL 2025

| DIRECTORS: | CJD Adams

| LFR Adams

| Mrs NJ Adams

| SECRETARY: | Mrs LA Adams

| REGISTERED OFFICE: | Broad House

| 1 The Broadway

| Old Hatfield

| Hertfordshire

| AL9 5BG

| REGISTERED NUMBER: | 03369453 (England and Wales)

| ACCOUNTANTS: | Jones Hunt & Keelings

| Chartered Certified Accountants and

| Chartered Tax Advisers

| Broad House

| 1 The Broadway

| Old Hatfield

| Hertfordshire

| AL9 5BG

MORLEY STOVE COMPANY LIMITED (REGISTERED NUMBER: 03369453)

BALANCE SHEET

30 APRIL 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 46,933 |  | 73,064 |  |

CURRENT ASSETS

Stocks | 126,704 |  | 209,216 |  |

Debtors | 5 | 33,962 |  | 40,768 |  |

Cash at bank and in hand | 199,623 |  | 215,468 |  |

360,289 |  | 465,452 |  |

CREDITORS

Amounts falling due within one year | 6 | 222,096 |  | 321,476 |  |

NET CURRENT ASSETS | 138,193 |  | 143,976 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 185,126 |  | 217,040 |  |

PROVISIONS FOR LIABILITIES | 11,733 |  | - |  |

NET ASSETS | 173,393 |  | 217,040 |  |

CAPITAL AND RESERVES

Called up share capital | 100,000 |  | 100,000 |  |

Retained earnings | 73,393 |  | 117,040 |  |

173,393 |  | 217,040 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 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.

MORLEY STOVE COMPANY LIMITED (REGISTERED NUMBER: 03369453)

BALANCE SHEET - continued

30 APRIL 2025

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 January 2026 and were signed on its behalf by:

LFR Adams - Director

MORLEY STOVE COMPANY LIMITED (REGISTERED NUMBER: 03369453)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

1. | STATUTORY INFORMATION

| Morley Stove Company Limited 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

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.

| Going concern

| The directors have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are again prepared on the going concern basis.

| Significant judgements and estimates

| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

| In preparing these financial statements, the company's critical accounting judgements and estimates are in respect of the net realisable value of stock, the depreciation rates for fixed assets and the recoverability of amounts owed by customers. Details of these judgements and estimates are described in the relevant accounting policy, the notes to the financial statements and below:

| - In assessing the net realisable value of the company's stocks, factors taken into consideration include knowledge of the previous sales values and forecasts for the coming year.

| - Tangible fixed assets are depreciated over their useful lives, taking into account residual values. In determining the depreciation rates, the useful lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

| - In estimating the recoverability of amounts owed by customers, the directors consider the period the debt has been outstanding and the difficulties experienced and anticipated in pursuing collection.

| Estimates and judgements include the likely outcome of future events; these are made after reviewing historical data and assessing all other pertinent information.

| It is possible that new information could come to light that might result in material adjustments to the items

| Turnover

| Turnover is derived from the supply and installation of stoves, fires and cookers. It is stated at the fair value of the consideration to which the company has become entitled during the year in respect of goods and services provided, excluding discounts, rebates and Vat.

MORLEY STOVE COMPANY LIMITED (REGISTERED NUMBER: 03369453)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 APRIL 2025

2. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Improvements to property | - | 20% on cost

| Plant and machinery | - | 12.5% on cost

| Fixtures and fittings | - | 20% on cost

| Motor vehicles | - | 25% on cost

| Computer equipment | - | 10% on cost

| Stocks

| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs are based on the method most appropriate to the type of inventory class. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any 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.

| Financial instruments

| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

| Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

| Basic financial assets, which include debtors, are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account 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

MORLEY STOVE COMPANY LIMITED (REGISTERED NUMBER: 03369453)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 APRIL 2025

2. | ACCOUNTING POLICIES - continued

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

| 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.

| Cash at bank and in hand

| Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

| Equity instruments

| Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 5 (2024 - 5 ) .

4. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 May 2024

| and 30 April 2025 | 296,838 |  |

| DEPRECIATION

| At 1 May 2024 | 223,774 |  |

| Charge for year | 26,131 |  |

| At 30 April 2025 | 249,905 |  |

| NET BOOK VALUE

| At 30 April 2025 | 46,933 |  |

| At 30 April 2024 | 73,064 |  |

MORLEY STOVE COMPANY LIMITED (REGISTERED NUMBER: 03369453)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 APRIL 2025

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 7,849 |  | 19,960 |  |

| Other debtors | 26,113 |  | 20,808 |  |

33,962 |  | 40,768 |  |

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | 64,844 |  | 123,509 |  |

| Amounts owed to associates | 32,750 |  | - |  |

| Taxation and social security | 41,076 |  | 63,086 |  |

| Other creditors | 83,426 |  | 134,881 |  |

222,096 |  | 321,476 |  |

7. | RELATED PARTY DISCLOSURES

| During the year, the company:

| - paid rent of £42,000 (2024: £42,000) for its premises to a director and his wife;

| - paid £20,620 (2024: £20,620) to the directors;

| - was charged interest at 10% per annum (2024: 10% pa) on the average amount owed to the directors during the year; this amounted to £11,600 (2024: £18,500); and

| - repaid a net amount of £43,198 (2024: £69,801) to the directors.

| At the balance sheet date, the company owed £62,824 (2024: £106,022) to the directors, this liability is included under 'Other creditors' in the balance sheet. No arrangements have been made for the repayment of capital.