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REGISTERED NUMBER: 11400567 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Compton Arms Ltd

Compton Arms Ltd (Registered number: 11400567)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Compton Arms Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: N P Stephens





REGISTERED OFFICE: 259 London Road
Chippenham
Wiltshire
SN15 3AR





REGISTERED NUMBER: 11400567 (England and Wales)

Compton Arms Ltd (Registered number: 11400567)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,020 21,826

CURRENT ASSETS
Stocks 8,065 10,900
Debtors 5 56,874 24,899
Cash at bank and in hand 159,113 132,948
224,052 168,747
CREDITORS
Amounts falling due within one year 6 151,760 114,491
NET CURRENT ASSETS 72,292 54,256
TOTAL ASSETS LESS CURRENT
LIABILITIES

95,312

76,082

CREDITORS
Amounts falling due after more than one
year

7

14,667

48,657
NET ASSETS 80,645 27,425

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings 80,625 27,405
80,645 27,425

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 September 2024 and were signed by:





N P Stephens - Director


Compton Arms Ltd (Registered number: 11400567)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Compton Arms Ltd 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.
Fixtures and fittings - 20% on straight line basis

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 Income Statement, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's 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 8 (2023 - 8 ) .

Compton Arms Ltd (Registered number: 11400567)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 11,529 41,691 - 53,220
Additions - 7,769 516 8,285
Disposals - (1,880 ) - (1,880 )
At 31 March 2024 11,529 47,580 516 59,625
DEPRECIATION
At 1 April 2023 231 31,163 - 31,394
Charge for year 2,891 2,191 129 5,211
At 31 March 2024 3,122 33,354 129 36,605
NET BOOK VALUE
At 31 March 2024 8,407 14,226 387 23,020
At 31 March 2023 11,298 10,528 - 21,826

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 49,410 18,750
Prepayments 7,464 6,149
56,874 24,899

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans 8,000 8,000
Loan from B Rauman - 3,669
Loan from JH - 12,000
Trade creditors 52,043 49,731
Tax 27,357 7,952
Social security and other taxes 3,288 4,873
VAT 18,260 18,419
Other creditors 6,649 2,944
Directors' current accounts 20,000 -
Accrued expenses 16,163 6,903
151,760 114,491

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other loans - 1-2 years 14,667 22,667
Loan from JH - 5,990
Directors' loan accounts - 20,000
14,667 48,657