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Company No: 12033462 (England and Wales)

BARBURY SHOOTING SCHOOL LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2024
Pages for filing with the registrar

BARBURY SHOOTING SCHOOL LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

BARBURY SHOOTING SCHOOL LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 July 2024
BARBURY SHOOTING SCHOOL LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 686,137 645,498
686,137 645,498
Current assets
Stocks 993,160 828,897
Debtors 4 6,873 26,655
Cash at bank and in hand 216,454 237,473
1,216,487 1,093,025
Creditors: amounts falling due within one year 5 ( 450,978) ( 392,158)
Net current assets 765,509 700,867
Total assets less current liabilities 1,451,646 1,346,365
Creditors: amounts falling due after more than one year 6 ( 490,956) ( 472,869)
Provision for liabilities ( 101,750) ( 90,372)
Net assets 858,940 783,124
Capital and reserves
Called-up share capital 7 10,000 10,000
Share premium account 172,002 172,002
Profit and loss account 676,938 601,122
Total shareholders' funds 858,940 783,124

For the financial year ending 31 July 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Barbury Shooting School Limited (registered number: 12033462) were approved and authorised for issue by the Board of Directors on 31 January 2025. They were signed on its behalf by:

Mr H T Stephens
Director
BARBURY SHOOTING SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
BARBURY SHOOTING SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Barbury Shooting School Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Burderop Farm House, Burderop, Swindon, SN4 0PZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 13 years straight line
Plant and machinery 10 years straight line
Vehicles 25 % reducing balance
Fixtures and fittings 10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 37 31

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 August 2023 473,705 251,953 17,000 131,491 874,149
Additions 36,417 39,194 50,326 0 125,937
At 31 July 2024 510,122 291,147 67,326 131,491 1,000,086
Accumulated depreciation
At 01 August 2023 114,756 70,037 7,239 36,619 228,651
Charge for the financial year 37,840 26,141 8,168 13,149 85,298
At 31 July 2024 152,596 96,178 15,407 49,768 313,949
Net book value
At 31 July 2024 357,526 194,969 51,919 81,723 686,137
At 31 July 2023 358,949 181,916 9,761 94,872 645,498

4. Debtors

2024 2023
£ £
Trade debtors 0 21,398
Amounts owed by associates 6,873 5,257
6,873 26,655

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 175,793 170,169
Amounts owed to associates 16,800 16,800
Accruals and deferred income 34,107 40,496
Corporation tax 151,573 85,703
Other taxation and social security 64,273 78,477
Obligations under finance leases and hire purchase contracts (secured) 6,996 0
Other creditors 1,436 513
450,978 392,158

Amounts shown within obligations under finance leases and hire purchase contracts are secured against the assets to which they relate.

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Amounts owed to associates 218,406 232,869
Amounts owed to directors 240,000 240,000
Obligations under finance leases and hire purchase contracts (secured) 32,550 0
490,956 472,869

Amounts shown within obligations under finance leases and hire purchase contracts are secured against the assets to which they relate.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2024 2023
£ £
Amounts owed to associates (repayable by instalments) 163,000 179,800

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
7,500 A Ordinary shares of £ 1.00 each 7,500 7,500
2,500 B Ordinary shares of £ 1.00 each 2,500 2,500
10,000 10,000

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 50,000 50,000
between one and five years 200,000 200,000
after five years 150,000 200,000
400,000 450,000

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2024 2023
£ £
Unpaid contributions due to the fund (inc. in other creditors) 1,219 0

9. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed to directors 240,000 240,000

At the year end, a director was owed £240,000 (2023: £240,000). This amount is shown within non-current liabilities and interest is calculated at a variable rate.

At the year end, an associated business was owed £235,206 (2023: £249,669). This amount is shown within current and non-current liabilities, interest is calculated at a variable rate.

At the year end, an associated Company of which a director is a shareholder was owed £6,873 (2023: £5,257).

During the year, dividends totalling £160,700 (2023: £69,350) were paid to a director. A further dividend of £223,457 (2023: £140,939) was paid to an associated Company of which a director is a shareholder.