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REGISTERED NUMBER: 05012788 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Cheshire Gun Room Limited

Cheshire Gun Room Limited (Registered number: 05012788)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cheshire Gun Room Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: J Farrugia





SECRETARY: Mrs S M Farrugia





REGISTERED OFFICE: 29 Buxton Road
Heavily
Stockport
Cheshire
SK2 6LS





REGISTERED NUMBER: 05012788 (England and Wales)





ACCOUNTANTS: Lucas Reis Ltd
Chartered Accountants
Lansdowne House
85 Buxton Road
Stockport
Cheshire
SK2 6LR

Cheshire Gun Room Limited (Registered number: 05012788)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 145,398 67,144

CURRENT ASSETS
Stocks 974,630 981,620
Debtors 5 35,129 95,880
Cash at bank and in hand 37,775 21,194
1,047,534 1,098,694
CREDITORS
Amounts falling due within one year 6 313,518 422,460
NET CURRENT ASSETS 734,016 676,234
TOTAL ASSETS LESS CURRENT
LIABILITIES

879,414

743,378

CREDITORS
Amounts falling due after more than one
year

7

(28,266

)

(22,500

)

PROVISIONS FOR LIABILITIES (36,350 ) (12,757 )
NET ASSETS 814,798 708,121

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 8 814,698 708,021
SHAREHOLDERS' FUNDS 814,798 708,121

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

Cheshire Gun Room Limited (Registered number: 05012788)

Balance Sheet - continued
29 February 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 November 2024 and were signed by:





J Farrugia - Director


Cheshire Gun Room Limited (Registered number: 05012788)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Cheshire Gun Room 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Fixtures and fittings - 15% on reducing balance
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 Statement of Income and Retained Earnings, 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.

Cheshire Gun Room Limited (Registered number: 05012788)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The Company contributes to a defined contributions pension scheme. Contributions payable to the nominated workplace pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 17 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 March 2023 11,622 32,156 50,437 123,542 217,757
Additions - 4,059 4,107 162,671 170,837
Disposals - (6,856 ) - (119,777 ) (126,633 )
At 29 February 2024 11,622 29,359 54,544 166,436 261,961
DEPRECIATION
At 1 March 2023 11,622 14,616 43,804 80,571 150,613
Charge for year - 2,365 1,611 40,956 44,932
Eliminated on disposal - (1,028 ) - (77,954 ) (78,982 )
At 29 February 2024 11,622 15,953 45,415 43,573 116,563
NET BOOK VALUE
At 29 February 2024 - 13,406 9,129 122,863 145,398
At 28 February 2023 - 17,540 6,633 42,971 67,144

Cheshire Gun Room Limited (Registered number: 05012788)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 123,191
At 29 February 2024 123,191
DEPRECIATION
Charge for year 30,798
At 29 February 2024 30,798
NET BOOK VALUE
At 29 February 2024 92,393

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 10,549 83,982
Other debtors 4,693 -
Prepayments and accrued income 19,887 11,898
35,129 95,880

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 10,671 10,000
Hire purchase contracts 13,189 -
Trade creditors 141,077 243,172
Taxation and social security 20,803 31,531
Other creditors 127,778 137,757
313,518 422,460

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans 12,500 22,500
Hire purchase contracts 15,766 -
28,266 22,500

Cheshire Gun Room Limited (Registered number: 05012788)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. RESERVES
Retained
earnings
£   

At 1 March 2023 708,021
Profit for the year 108,177
Dividends (1,500 )
At 29 February 2024 814,698

9. ULTIMATE CONTROLLING PARTY

The controlling party is J Farrugia.