REGISTERED NUMBER: |
ELDERKIN & SON (GUNMAKERS) LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
REGISTERED NUMBER: |
ELDERKIN & SON (GUNMAKERS) LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
ELDERKIN & SON (GUNMAKERS) LIMITED (REGISTERED NUMBER: 00564436) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 | to | 5 |
ELDERKIN & SON (GUNMAKERS) LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTORS: |
Mrs K J Elderkin |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Enterprise Way |
Pinchbeck |
Spalding |
Lincolnshire |
PE11 3YR |
ELDERKIN & SON (GUNMAKERS) LIMITED (REGISTERED NUMBER: 00564436) |
STATEMENT OF FINANCIAL POSITION |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
Investments | 5 |
CURRENT ASSETS |
Inventories |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
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 |
ELDERKIN & SON (GUNMAKERS) LIMITED (REGISTERED NUMBER: 00564436) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Elderkin & Son (Gunmakers) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents amounts charged to customers for goods and services provided during the year,excluding value added tax. |
Gun sales are recognised upon delivery to the customer, or upon collection by the customer.Workshop sales are recognised in the period in which the services are rendered |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended. |
Stocks |
Stocks and work in progress are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items |
Financial instruments |
The company has chosen to adopt the FRS 102A in respect of financial instruments. |
Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
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. |
Investments |
Investments are recorded at cost less any impairments required. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
ELDERKIN & SON (GUNMAKERS) LIMITED (REGISTERED NUMBER: 00564436) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
4. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
Freehold | and | Motor |
property | Equipment | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 April 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
The net book value of property, plant and equipment includes £ 36,551 (2023 - £ 16,261 ) in respect of assets held under hire purchase contracts. |
5. | FIXED ASSET INVESTMENTS |
Listed |
investments |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
PROVISIONS |
At 1 April 2023 |
and 31 March 2024 | 2,687 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Market value of listed investments at 31 March 2024 - £ 10,402 . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
ELDERKIN & SON (GUNMAKERS) LIMITED (REGISTERED NUMBER: 00564436) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Hire purchase contracts |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
Hire purchase contracts | 41,520 | 26,595 |
Bank loans secured by a fixed and floating charge over the undertaking and all property and assets present and future. |
Hire purchase assets secured by the asset being purchased. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary shares | £1 | 4,002 | 4,002 |