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REGISTERED NUMBER: 05012788 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Cheshire Gun Room Limited

Cheshire Gun Room Limited (Registered number: 05012788)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cheshire Gun Room Limited

Company Information
for the Year Ended 28 February 2023







DIRECTOR: J Farrugia





SECRETARY: Mrs S M Farrugia





REGISTERED OFFICE: 29 Buxton Road
Heavily
Stockport
Cheshire
SK2 6LS





REGISTERED NUMBER: 05012788 (England and Wales)





ACCOUNTANTS: Lucas Reis Ltd
Chartered Accountants
Lansdowne House
85 Buxton Road
Stockport
Cheshire
SK2 6LR

Cheshire Gun Room Limited (Registered number: 05012788)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 67,144 76,659

CURRENT ASSETS
Stocks 981,620 920,850
Debtors 5 95,880 99,435
Cash at bank and in hand 21,194 108,254
1,098,694 1,128,539
CREDITORS
Amounts falling due within one year 6 422,460 411,452
NET CURRENT ASSETS 676,234 717,087
TOTAL ASSETS LESS CURRENT
LIABILITIES

743,378

793,746

CREDITORS
Amounts falling due after more than one
year

7

(22,500

)

(53,783

)

PROVISIONS FOR LIABILITIES (12,757 ) (14,565 )
NET ASSETS 708,121 725,398

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 8 708,021 725,298
SHAREHOLDERS' FUNDS 708,121 725,398

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Cheshire Gun Room Limited (Registered number: 05012788)

Balance Sheet - continued
28 February 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 November 2023 and were signed by:





J Farrugia - Director


Cheshire Gun Room Limited (Registered number: 05012788)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Cheshire Gun Room 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Cheshire Gun Room Limited (Registered number: 05012788)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

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.

Pension costs and other post-retirement benefits
The Company contributes to a defined contributions pension scheme. Contributions payable to the nominated workplace pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 17 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 March 2022 11,622 25,773 50,437 123,542 211,374
Additions - 16,075 - - 16,075
Disposals - (9,692 ) - - (9,692 )
At 28 February 2023 11,622 32,156 50,437 123,542 217,757
DEPRECIATION
At 1 March 2022 11,622 14,210 42,634 66,249 134,715
Charge for year - 3,096 1,170 14,322 18,588
Eliminated on disposal - (2,690 ) - - (2,690 )
At 28 February 2023 11,622 14,616 43,804 80,571 150,613
NET BOOK VALUE
At 28 February 2023 - 17,540 6,633 42,971 67,144
At 28 February 2022 - 11,563 7,803 57,293 76,659

Cheshire Gun Room Limited (Registered number: 05012788)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 March 2022 98,812
Transfer to ownership (98,812 )
At 28 February 2023 -
DEPRECIATION
At 1 March 2022 51,568
Transfer to ownership (51,568 )
At 28 February 2023 -
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 47,244

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 83,982 90,126
Prepayments and accrued income 11,898 9,309
95,880 99,435

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts - 14,200
Trade creditors 243,172 305,247
Social security and other taxes 7,903 6,692
VAT 23,628 1,245
Other creditors 16,263 5,550
Directors' current accounts 119,269 66,493
Accruals and deferred income 2,225 2,025
422,460 411,452

Cheshire Gun Room Limited (Registered number: 05012788)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans - 2-5 years 22,500 32,500
Hire purchase contracts - 21,283
22,500 53,783

8. RESERVES
Retained
earnings
£   

At 1 March 2022 725,298
Deficit for the year (14,277 )
Dividends (3,000 )
At 28 February 2023 708,021

9. ULTIMATE CONTROLLING PARTY

The controlling party is J Farrugia.