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REGISTERED NUMBER: 02702577 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

GUNFIRE LIMITED

GUNFIRE LIMITED (REGISTERED NUMBER: 02702577)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GUNFIRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: J F Otter
A T Laws
M Otter





REGISTERED OFFICE: 409-411 Croydon Road
Beckenham
Kent
BR3 3PP





REGISTERED NUMBER: 02702577 (England and Wales)





AUDITORS: Edwards Chartered Accountants
Statutory Auditor
409-411 Croydon Road
Beckenham
Kent
BR3 3PP

GUNFIRE LIMITED (REGISTERED NUMBER: 02702577)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 36,102 50,273

CURRENT ASSETS
Stocks 77,775 43,804
Debtors 5 1,960,362 1,155,727
2,038,137 1,199,531
CREDITORS
Amounts falling due within one year 6 1,162,086 407,911
NET CURRENT ASSETS 876,051 791,620
TOTAL ASSETS LESS CURRENT
LIABILITIES

912,153

841,893

PROVISIONS FOR LIABILITIES 6,859 9,550
NET ASSETS 905,294 832,343

CAPITAL AND RESERVES
Called up share capital 125 125
Retained earnings 905,169 832,218
SHAREHOLDERS' FUNDS 905,294 832,343

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 Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:





J F Otter - Director


GUNFIRE LIMITED (REGISTERED NUMBER: 02702577)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Gunfire 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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

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 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.

GUNFIRE LIMITED (REGISTERED NUMBER: 02702577)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 January 2023 34,900 48,054 82,954
Additions - 2,632 2,632
At 31 December 2023 34,900 50,686 85,586
DEPRECIATION
At 1 January 2023 11,232 21,449 32,681
Charge for year 6,978 9,825 16,803
At 31 December 2023 18,210 31,274 49,484
NET BOOK VALUE
At 31 December 2023 16,690 19,412 36,102
At 31 December 2022 23,668 26,605 50,273

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,066,959 840,459
Amounts owed by group undertakings 890,504 266,586
Other debtors 2,899 48,682
1,960,362 1,155,727

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 45,423 7,891
Trade creditors 403,131 202,769
Taxation and social security 360,765 22,282
Other creditors 352,767 174,969
1,162,086 407,911

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

John Duggan (Senior Statutory Auditor)
for and on behalf of Edwards Chartered Accountants

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J F Otter.