GALLYON GUN AND RIFLE MAKERS LIMITED

Company Registration Number:
12300360 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

GALLYON GUN AND RIFLE MAKERS LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

GALLYON GUN AND RIFLE MAKERS LIMITED

Balance sheet

As at 31 December 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 4,281 1,047
Total fixed assets: 4,281 1,047
Current assets
Stocks: 280,000 105,842
Debtors:   33,293 19,438
Cash at bank and in hand: 58,051 21,975
Total current assets: 371,344 147,255
Creditors: amounts falling due within one year:   (958,240) (389,381)
Net current assets (liabilities): (586,896) (242,126)
Total assets less current liabilities: (582,615) (241,079)
Total net assets (liabilities): (582,615) (241,079)
Capital and reserves
Called up share capital: 100 100
Profit and loss account: (582,715) (241,179)
Shareholders funds: (582,615) (241,079)

The notes form part of these financial statements

GALLYON GUN AND RIFLE MAKERS LIMITED

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 19 September 2024
and signed on behalf of the board by:

Name: A G Anthony
Status: Director

The notes form part of these financial statements

GALLYON GUN AND RIFLE MAKERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

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 and depreciation policy

Depreciation is provided at annual rates in order to write off each asset over its estimated useful life.

Other accounting policies

Stocks Work in progress is valued at the lower of cost and net realisable value. Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. 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 inequity. 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. Research and development Expenditure on research and development is written off in the year in which it is incurred. 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. Going concern The directors have considered the financial position of the company and believe it is well placed to manage its business risks successfully. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of preparation in preparing the financial statements.

GALLYON GUN AND RIFLE MAKERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

2. Employees

2023 2022
Average number of employees during the period 3 3

GALLYON GUN AND RIFLE MAKERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible Assets

Total
Cost £
At 01 January 2023 1,562
Additions 3,750
At 31 December 2023 5,312
Depreciation
At 01 January 2023 515
Charge for year 516
At 31 December 2023 1,031
Net book value
At 31 December 2023 4,281
At 31 December 2022 1,047

GALLYON GUN AND RIFLE MAKERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Related party transactions

The company is controlled jointly by the directors.