IRONCRAFT FIRES & STOVES LIMITED

IRONCRAFT FIRES & STOVES LIMITED

IRONCRAFT FIRES & STOVES LIMITED - Company Information

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1 January 2020 false No description of principal activity Taxfiler 2020.16 07880331business:PrivateLimitedCompanyLtd2020-01-012020-12-31 078803312019-12-31 078803312020-01-012020-12-31 07880331business:AuditExempt-NoAccountantsReport2020-01-012020-12-31 07880331business:FullAccounts2020-01-012020-12-31 078803312020-12-31 07880331business:Director12020-01-012020-12-31 07880331business:RegisteredOffice2020-01-012020-12-31 078803312019-12-31 07880331core:WithinOneYear2020-12-31 07880331core:WithinOneYear2019-12-31 07880331core:AfterOneYear2020-12-31 07880331core:AfterOneYear2019-12-31 07880331core:ShareCapital2020-12-31 07880331core:ShareCapital2019-12-31 07880331core:RetainedEarningsAccumulatedLosses2020-12-31 07880331core:RetainedEarningsAccumulatedLosses2019-12-31 07880331business:SmallEntities2020-01-012020-12-31 07880331countries:EnglandWales2020-01-012020-12-31 07880331core:IntangibleAssetsOtherThanGoodwill2019-12-31 07880331core:IntangibleAssetsOtherThanGoodwill2020-12-31 07880331core:MotorVehicles2019-12-31 07880331core:FurnitureFittings2019-12-31 07880331core:MotorVehicles2020-01-012020-12-31 07880331core:FurnitureFittings2020-01-012020-12-31 07880331core:MotorVehicles2020-12-31 07880331core:FurnitureFittings2020-12-31 078803312019-01-012019-12-31 iso4217:GBP xbrli:pure
Company Registration No. 07880331 (England and Wales)
IRONCRAFT FIRES & STOVES LIMITED Unaudited accounts for the year ended 31 December 2020
IRONCRAFT FIRES & STOVES LIMITED Unaudited accounts Contents
Page
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IRONCRAFT FIRES & STOVES LIMITED Company Information for the year ended 31 December 2020
Director
E K Derwas
Company Number
07880331 (England and Wales)
Registered Office
CROSS CHAMBERS 9 HIGH STREET NEWTOWN POWYS SY16 2NY
Accountants
ACCOUNTING & BOOKKEEPING CONSULTANCY LTD Truwood House Bromfield Ind. Est. Mold Flintshire CH7 1XB
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IRONCRAFT FIRES & STOVES LIMITED Statement of financial position as at 31 December 2020
2020 
2019 
Notes
£ 
£ 
Fixed assets
Intangible assets
4
5 
5 
Tangible assets
5
14,445 
13,096 
14,450 
13,101 
Current assets
Inventories
52,796 
55,710 
Debtors
6
11,613 
9,476 
Cash at bank and in hand
16,027 
(1,730)
80,436 
63,456 
Creditors: amounts falling due within one year
7
(53,318)
(83,808)
Net current assets/(liabilities)
27,118 
(20,352)
Total assets less current liabilities
41,568 
(7,251)
Creditors: amounts falling due after more than one year
8
(50,000)
- 
Net liabilities
(8,432)
(7,251)
Capital and reserves
Called up share capital
9 
9 
Profit and loss account
(8,441)
(7,260)
Shareholders' funds
(8,432)
(7,251)
For the year ending 31 December 2020 the company was entitled to exemption from audit 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 director acknowledges her 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 February 2021 and were signed on its behalf by
E K Derwas Director Company Registration No. 07880331
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IRONCRAFT FIRES & STOVES LIMITED Notes to the Accounts for the year ended 31 December 2020
1
Statutory information
IRONCRAFT FIRES & STOVES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07880331. The registered office is CROSS CHAMBERS, 9 HIGH STREET, NEWTOWN, POWYS, SY16 2NY.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives: Depreciation - 10% on reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2020
5 
At 31 December 2020
5 
Amortisation
At 1 January 2020
- 
At 31 December 2020
- 
Net book value
At 31 December 2020
5 
At 31 December 2019
5 
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IRONCRAFT FIRES & STOVES LIMITED Notes to the Accounts for the year ended 31 December 2020
5
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2020
- 
17,539 
17,539 
Additions
2,900 
- 
2,900 
At 31 December 2020
2,900 
17,539 
20,439 
Depreciation
At 1 January 2020
- 
4,443 
4,443 
Charge for the year
242 
1,309 
1,551 
At 31 December 2020
242 
5,752 
5,994 
Net book value
At 31 December 2020
2,658 
11,787 
14,445 
At 31 December 2019
- 
13,096 
13,096 
6
Debtors
2020 
2019 
£ 
£ 
Trade debtors
4,745 
8,021 
Accrued income and prepayments
6,868 
1,455 
11,613 
9,476 
7
Creditors: amounts falling due within one year
2020 
2019 
£ 
£ 
Trade creditors
3,808 
25,015 
Taxes and social security
3,792 
151 
Loans from directors
44,718 
57,642 
Accruals
1,000 
1,000 
53,318 
83,808 
8
Creditors: amounts falling due after more than one year
2020 
2019 
£ 
£ 
Other creditors
50,000 
- 
9
Average number of employees
During the year the average number of employees was 0 (2019: 3).
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