Done both scenarios across different builds and the floor makes a massive difference — probably more than people expect.
Stone walls have terrible thermal mass behaviour in a UK climate. They take ages to warm up and then just radiate cold back at you. But heat genuinely does rise, so a lot of folk assume the floor is low priority. In practice, a cold concrete slab will absolutely kill your heating efficiency because you're losing ground-source cold upward constantly, especially in winter.
For my garden office conversion I did:
- 100mm Celotex under a new screed on the floor
- 50mm Celotex batted out on the walls (stone was too uneven to bond direct)
- 100mm between rafters in the roof
The floor insulation alone transformed the feel of the space. It went from "damp cave" to actually habitable within a couple of days of heating.
Practical caveat though — if you're on a tight budget or the stone floor is listed/original flagging you want to keep, walls + roof will still get you 70% of the way there. A decent wool rug over flags does surprisingly well as a stopgap.
Also worth thinking about your heating source before you decide. If you're running a small Victron setup with an electric panel heater, every bit of insulation pays back directly in battery capacity. Ground floor losses are brutal for small systems.
What's the current floor situation — concrete slab, original flags, bare earth? That changes the answer quite a bit. And are you planning to heat it year-round or just shoulder seasons?