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REGISTERED NUMBER: 07774445 (England and Wales)















HADFIELD GUNS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






HADFIELD GUNS LIMITED (REGISTERED NUMBER: 07774445)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7

Chartered Certified Accountants' Report 8

HADFIELD GUNS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: S J Hadfield





SECRETARY: Mrs A Hadfield





REGISTERED OFFICE: Lakeside Wide Lane
Wymeswold
Loughborough
Leicestershire
LE12 6SE





REGISTERED NUMBER: 07774445 (England and Wales)





ACCOUNTANTS: Essex Abel Ltd
4 Bank Court
Weldon Road
Loughborough
Leicestershire
LE11 5RF

HADFIELD GUNS LIMITED (REGISTERED NUMBER: 07774445)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 549 686
Tangible assets 5 260,933 217,376
261,482 218,062

CURRENT ASSETS
Stocks 724,704 611,356
Debtors 6 32,602 9,041
Cash at bank and in hand 109,395 141,856
866,701 762,253
CREDITORS
Amounts falling due within one year 7 776,070 604,805
NET CURRENT ASSETS 90,631 157,448
TOTAL ASSETS LESS CURRENT
LIABILITIES

352,113

375,510

CREDITORS
Amounts falling due after more than one
year

8

(85,723

)

(93,686

)

PROVISIONS FOR LIABILITIES (60,518 ) (54,344 )
NET ASSETS 205,872 227,480

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 205,772 227,380
205,872 227,480

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

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

HADFIELD GUNS LIMITED (REGISTERED NUMBER: 07774445)

BALANCE SHEET - continued
31 JANUARY 2024


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 and authorised for issue by the director and authorised for issue on 10 October 2024 and were signed by:





S J Hadfield - Director


HADFIELD GUNS LIMITED (REGISTERED NUMBER: 07774445)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Hadfield Guns 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 - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance

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.

HADFIELD GUNS LIMITED (REGISTERED NUMBER: 07774445)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 February 2023
and 31 January 2024 1,090
AMORTISATION
At 1 February 2023 404
Charge for year 137
At 31 January 2024 541
NET BOOK VALUE
At 31 January 2024 549
At 31 January 2023 686

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 February 2023 94,979 35,714 187,113 317,806
Additions 73,113 9,461 20,000 102,574
Disposals - - (10,000 ) (10,000 )
At 31 January 2024 168,092 45,175 197,113 410,380
DEPRECIATION
At 1 February 2023 41,423 19,647 39,360 100,430
Charge for year 21,389 6,874 24,354 52,617
Eliminated on disposal - - (3,600 ) (3,600 )
At 31 January 2024 62,812 26,521 60,114 149,447
NET BOOK VALUE
At 31 January 2024 105,280 18,654 136,999 260,933
At 31 January 2023 53,556 16,067 147,753 217,376

HADFIELD GUNS LIMITED (REGISTERED NUMBER: 07774445)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 30,419 6,047
Other debtors 2,183 2,994
32,602 9,041

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4 -
Hire purchase contracts 39,731 24,175
Trade creditors 508,261 466,723
Taxation and social security 36,493 43,518
Other creditors 191,581 70,389
776,070 604,805

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 85,723 93,686

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 4 -
Hire purchase contracts 125,454 117,861
125,458 117,861

The hire purchase liabilities are secured over the assets financed.

10. OTHER FINANCIAL COMMITMENTS

The company has lease commitments of £8,340 (2023: £20,028).

HADFIELD GUNS LIMITED (REGISTERED NUMBER: 07774445)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
S J Hadfield
Balance outstanding at start of year - 13,554
Amounts advanced - 25,816
Amounts repaid - (39,370 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
HADFIELD GUNS LIMITED


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hadfield Guns Limited for the year ended 31 January 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Hadfield Guns Limited in accordance with the terms of our engagement letter dated 5 March 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Hadfield Guns Limited and state those matters that we have agreed to state to the director of Hadfield Guns Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Hadfield Guns Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hadfield Guns Limited. You consider that Hadfield Guns Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Hadfield Guns Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Essex Abel Ltd
4 Bank Court
Weldon Road
Loughborough
Leicestershire
LE11 5RF


11 October 2024