Silverfin false 31/05/2023 01/06/2022 31/05/2023 Mr E Irish 12/05/2014 Mrs S Irish 12/05/2014 20 February 2024 The principal activity of the Company during the financial year was the retail of air rifles and operation of a shooting range. 09035383 2023-05-31 09035383 bus:Director1 2023-05-31 09035383 bus:Director2 2023-05-31 09035383 2022-05-31 09035383 core:CurrentFinancialInstruments 2023-05-31 09035383 core:CurrentFinancialInstruments 2022-05-31 09035383 core:Non-currentFinancialInstruments 2023-05-31 09035383 core:Non-currentFinancialInstruments 2022-05-31 09035383 core:ShareCapital 2023-05-31 09035383 core:ShareCapital 2022-05-31 09035383 core:RetainedEarningsAccumulatedLosses 2023-05-31 09035383 core:RetainedEarningsAccumulatedLosses 2022-05-31 09035383 core:LeaseholdImprovements 2022-05-31 09035383 core:PlantMachinery 2022-05-31 09035383 core:Vehicles 2022-05-31 09035383 core:FurnitureFittings 2022-05-31 09035383 core:LeaseholdImprovements 2023-05-31 09035383 core:PlantMachinery 2023-05-31 09035383 core:Vehicles 2023-05-31 09035383 core:FurnitureFittings 2023-05-31 09035383 core:CurrentFinancialInstruments core:Secured 2023-05-31 09035383 bus:OrdinaryShareClass1 2023-05-31 09035383 2022-06-01 2023-05-31 09035383 bus:FullAccounts 2022-06-01 2023-05-31 09035383 bus:SmallEntities 2022-06-01 2023-05-31 09035383 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 09035383 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 09035383 bus:Director1 2022-06-01 2023-05-31 09035383 bus:Director2 2022-06-01 2023-05-31 09035383 core:LeaseholdImprovements core:TopRangeValue 2022-06-01 2023-05-31 09035383 core:PlantMachinery core:TopRangeValue 2022-06-01 2023-05-31 09035383 core:Vehicles core:TopRangeValue 2022-06-01 2023-05-31 09035383 core:FurnitureFittings core:TopRangeValue 2022-06-01 2023-05-31 09035383 2021-06-01 2022-05-31 09035383 core:LeaseholdImprovements 2022-06-01 2023-05-31 09035383 core:PlantMachinery 2022-06-01 2023-05-31 09035383 core:Vehicles 2022-06-01 2023-05-31 09035383 core:FurnitureFittings 2022-06-01 2023-05-31 09035383 core:CurrentFinancialInstruments 2022-06-01 2023-05-31 09035383 core:Non-currentFinancialInstruments 2022-06-01 2023-05-31 09035383 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 09035383 bus:OrdinaryShareClass1 2021-06-01 2022-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 09035383 (England and Wales)

CRACKSHOT LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2023
Pages for filing with the registrar

CRACKSHOT LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2023

Contents

CRACKSHOT LIMITED

COMPANY INFORMATION

For the financial year ended 31 May 2023
CRACKSHOT LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 May 2023
DIRECTORS Mr E Irish
Mrs S Irish
REGISTERED OFFICE Centenary House Peninsula Park
Rydon Lane
Exeter
EX2 7XE
United Kingdom
COMPANY NUMBER 09035383 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
CRACKSHOT LIMITED

BALANCE SHEET

As at 31 May 2023
CRACKSHOT LIMITED

BALANCE SHEET (continued)

As at 31 May 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 29,693 33,349
29,693 33,349
Current assets
Stocks 226,266 167,641
Debtors 4 13,797 19,531
Cash at bank and in hand 42,947 20,581
283,010 207,753
Creditors: amounts falling due within one year 5 ( 153,311) ( 117,726)
Net current assets 129,699 90,027
Total assets less current liabilities 159,392 123,376
Creditors: amounts falling due after more than one year 6 ( 62,862) ( 118,119)
Provision for liabilities ( 10,300) ( 8,500)
Net assets/(liabilities) 86,230 ( 3,243)
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 86,130 ( 3,343 )
Total shareholders' funds/(deficit) 86,230 ( 3,243)

For the financial year ending 31 May 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Crackshot Limited (registered number: 09035383) were approved and authorised for issue by the Board of Directors on 20 February 2024. They were signed on its behalf by:

Mr E Irish
Director
CRACKSHOT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
CRACKSHOT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
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

Crackshot 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 Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom.

The principal place of business is 1&2 Sabre Close, Heathfield, Newton Abbot, Devon, TQ12 6TW

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 £.

Turnover

Revenue represents amounts chargeable, net of value added tax, in respect of the sale of goods and provision of services to customers.

Employee benefits

Defined contribution schemes
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

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 basis over its expected useful life, as follows:

Leasehold improvements 5 years straight line
Plant and machinery 5 years straight line
Vehicles 5 years straight line
Fixtures and fittings 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.

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

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.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at X.

Government grants

Grant income is included in other operating income, it comprises the fair value of the consideration received or receivable for the year.

During the prior year the business received grants relating to the Coronavirus Job Retention Scheme payments and Local Authority Grants.

The total of the grants received is £Nil (2022: £4,572) during the year

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 9 7

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 June 2022 10,637 25,647 29,032 79,625 144,941
Additions 0 2,371 0 3,018 5,389
At 31 May 2023 10,637 28,018 29,032 82,643 150,330
Accumulated depreciation
At 01 June 2022 10,637 22,213 4,839 73,903 111,592
Charge for the financial year 0 1,105 5,806 2,134 9,045
At 31 May 2023 10,637 23,318 10,645 76,037 120,637
Net book value
At 31 May 2023 0 4,700 18,387 6,606 29,693
At 31 May 2022 0 3,434 24,193 5,722 33,349

4. Debtors

2023 2022
£ £
Trade debtors 511 8,860
Prepayments 13,286 10,671
13,797 19,531

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans (secured £ 4,543) 14,539 14,386
Trade creditors 74,553 54,892
Amounts owed to directors 21,097 21,547
Accruals 3,600 3,300
Taxation and social security 29,372 11,732
Obligations under finance leases and hire purchase contracts (secured) 5,758 5,758
Other creditors 4,392 6,111
153,311 117,726

Bank borrowings:

Included in the bank loans at the year end is £4,543 (2022: £4,636) on which security has been provided in the form of a personal guarantee by the directors.

Hire purchase:


Included in hire purchase at the year end is £5,758 (2022: 5,758) which is secured on asset concerned.

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

2023 2022
£ £
Bank loans 20,665 35,164
Amounts owed to directors 35,000 70,000
Obligations under finance leases and hire purchase contracts (secured) 7,197 12,955
62,862 118,119

Bank borrowings:

Included in the bank loans at the year end is £Nil (2022: £4,526) on which security has been provided in the form of a personal guarantee by the directors.

Hire purchase:

Included in hire purchase at the year end is £7,197 (2022: £12,955) which is secured on asset concerned.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary Shares shares of £ 1.00 each 100 100

8. Financial commitments

Commitments

The total amount of financial commitments not included in the balance sheet is £70,667 (2022: £97,167).