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Registered number: NI632208
Bullseye Country Sport Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
Alan Hall Accountancy
7 Dunseark Road
Dungannon
Co Tyrone
BT71 7PH
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: NI632208
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 152,796 182,030
152,796 182,030
CURRENT ASSETS
Stocks 5 515,668 609,023
Debtors 6 3,737 4,476
Cash at bank and in hand 22,255 12,012
541,660 625,511
Creditors: Amounts Falling Due Within One Year 7 (442,875 ) (482,261 )
NET CURRENT ASSETS (LIABILITIES) 98,785 143,250
TOTAL ASSETS LESS CURRENT LIABILITIES 251,581 325,280
Creditors: Amounts Falling Due After More Than One Year 8 (56,389 ) (105,912 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (22,350 ) (17,050 )
NET ASSETS 172,842 202,318
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 172,742 202,218
SHAREHOLDERS' FUNDS 172,842 202,318
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs EMMA TUCKER
Director
Mr THOMAS TUCKER
Director
26/09/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Bullseye Country Sport Ltd is a private company, limited by shares, incorporated in Northern Ireland, registered number NI632208 . The registered office is 20 Dromore Road, Caledon, Co. Tyrone, BT68 4XS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% straight line
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 6)
5 6
4. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 July 2023 114,196 245,233 359,429
Additions - 11,336 11,336
As at 30 June 2024 114,196 256,569 370,765
Depreciation
As at 1 July 2023 37,433 139,966 177,399
Provided during the period 11,419 29,151 40,570
As at 30 June 2024 48,852 169,117 217,969
Net Book Value
As at 30 June 2024 65,344 87,452 152,796
As at 1 July 2023 76,763 105,267 182,030
5. Stocks
2024 2023
£ £
Stock 515,668 609,023
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 3,014 2,539
Other debtors 723 1,937
3,737 4,476
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 16,190 17,440
Trade creditors 19,918 28,669
Bank loans and overdrafts 33,333 33,333
Amounts owed to participating interests 22,989 29,539
Other creditors 299,181 331,497
Taxation and social security 51,264 41,783
442,875 482,261
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Page 5
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 14,722 30,912
Bank loans 41,667 75,000
56,389 105,912
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 16,190 17,440
Later than one year and not later than five years 14,722 30,912
30,912 48,352
30,912 48,352
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
Dividends paid to directors
12. Related Party Transactions
Amount due to associated company Black Ridge Outdoor Gear Ltd £22,989 (2023 £29,539).
13. Ultimate Controlling Party
The company's ultimate controlling parties are Mrs E and Mr T Tucker by virtue of their ownership of 100% of the issued share capital in the company.
Page 5