Company No: 05859241 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
				Restated - note 2
Fixed assets
Tangible assets	4	112,030		160,597
		112,030		160,597
Current assets
Stocks	5	132,783		122,993
Debtors	6	25,190		16,507
Cash at bank and in hand		141,501		183,745
		299,474		323,245
Creditors: amounts falling due within one year	7	( 210,324)		( 205,545)
Net current assets		89,150		117,700
Total assets less current liabilities		201,180		278,297
Creditors: amounts falling due after more than one year	8	( 80,714)		( 123,510)
Provision for liabilities		( 15,723)		( 22,722)
Net assets		104,743		132,065
Capital and reserves
Called-up share capital	9	50		50
Profit and loss account		104,693		132,015
Total shareholders' funds		104,743		132,065

For the financial year ending 31 July 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of The Stove Company Limited (registered number: 05859241) were approved and authorised for issue by the Director on 20 May 2026. They were signed on its behalf by:

Mr M J Webb Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Stove Company Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit C1 Flightway Business Park, Dunkeswell, Honiton, EX14 4PG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	15 % reducing balance
Vehicles	25 % reducing balance
	4 - 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged to the Statement of Income and Retained Earnings when the payments are made.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Prior year adjustment

The 2024 accounts have been restated to reflect the following:

Wages and salaries relating to engineers and sweepers have historically been included under administration expenses. The director is of the opinion that these costs should be shown under cost of sales as they relate directly to the company's trade. The 2024 comparative figures have therefore been restated to reflect this change in presentation.

Vehicles under finance leases have previously been depreciated using the reducing balance method. The director believes that this class of asset should be depreciated over the shorter of the lease term and the useful life, which is in line with the leases policy. The 2024 comparative figures have been restated to reflect depreciation on assets under finance leases calculated on this alternative basis. This has necessitated a recalculation of the corporation tax liability and deferred tax provision.

		As previously reported		Adjustment		As restated
Year ended 31 July 2024		£		£		£
Statement of income and retained earnings - Cost of sales		(654,825)		(171,100)		(825,925)
Statement of income and retained earnings - Administrative expenses		(504,064)		144,420		(359,644)
Statement of income and retained earnings - Tax on profit		(17,487)		(10,884)		(28,371)
Balance sheet - Tangible assets		187,277		(26,680)		160,597
Balance sheet - Creditors: amounts falling due within one year		(197,830)		(7,715)		(205,545)
Balance sheet - Provision for liabilities		(29,387)		6,665		(22,722)
Balance sheet - Profit and loss account		159,745		(27,730)		132,015

3. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	11		10

4. Tangible assets

	Plant and machinery		Vehicles		Total
	£		£		£
Cost
At 01 August 2024	55,235		261,721		316,956
Additions	2,753		0		2,753
At 31 July 2025	57,988		261,721		319,709
Accumulated depreciation
At 01 August 2024	31,421		124,938		156,359
Charge for the financial year	3,707		47,613		51,320
At 31 July 2025	35,128		172,551		207,679
Net book value
At 31 July 2025	22,860		89,170		112,030
At 31 July 2024	23,814		136,783		160,597

5. Stocks

	2025		2024
	£		£
Stocks	132,783		122,993

6. Debtors

	2025		2024
	£		£
Trade debtors	16,275		15,693
Amounts owed by director	7,804		0
Prepayments	1,065		768
Other debtors	46		46
	25,190		16,507

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	8,779		10,648
Trade creditors	80,140		76,236
Amounts owed to director	0		14,169
Accruals and deferred income	39,953		57,081
Corporation tax	38,722		13,005
Other taxation and social security	17,823		8,694
Obligations under finance leases and hire purchase contracts (secured)	20,880		22,374
Other creditors	4,027		3,338
	210,324		205,545

Obligations under finance lease and hire purchase contracts of £20,880 (2024: £22,374) are secured on the assets to which they relate.

8. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	0		8,415
Obligations under finance leases and hire purchase contracts (secured)	80,714		115,095
	80,714		123,510

Obligations under finance lease and hire purchase contracts of £80,714 (2024: £115,095) are secured on the assets to which they relate.

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
47 Ordinary A shares of £ 1.00 each	47		47
1 Ordinary B share of £ 1.00	1		1
1 Ordinary C share of £ 1.00	1		1
1 Ordinary D share of £ 1.00	1		1
	50		50

10. Financial commitments

Commitments

Capital commitments are as follows:

	2025		2024
	£		£
Contracted for but not provided for:
Other	8,297		19,438

11. Related party transactions

Transactions with the entity's director

	2025		2024
	£		£
Director loan	7,804		0

During the year, the company made advances to the director, which totalled £7,804. This loan is repayable on demand.