The Cambridge Gun Club Limited 07250984 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is Clay pigeon shooting club Digita Accounts Production Advanced 6.30.9574.0 true true 07250984 2023-06-01 2024-05-31 07250984 2024-05-31 07250984 core:CurrentFinancialInstruments 2024-05-31 07250984 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 07250984 core:Non-currentFinancialInstruments 2024-05-31 07250984 core:Non-currentFinancialInstruments core:AfterOneYear 2024-05-31 07250984 core:OtherResidualIntangibleAssets 2024-05-31 07250984 core:FurnitureFittingsToolsEquipment 2024-05-31 07250984 core:LandBuildings 2024-05-31 07250984 core:MotorVehicles 2024-05-31 07250984 core:OtherPropertyPlantEquipment 2024-05-31 07250984 1 2024-05-31 07250984 bus:SmallEntities 2023-06-01 2024-05-31 07250984 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 07250984 bus:FullAccounts 2023-06-01 2024-05-31 07250984 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 07250984 bus:RegisteredOffice 2023-06-01 2024-05-31 07250984 bus:Director1 2023-06-01 2024-05-31 07250984 bus:Director2 2023-06-01 2024-05-31 07250984 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 07250984 core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 07250984 core:LandBuildings 2023-06-01 2024-05-31 07250984 core:MotorVehicles 2023-06-01 2024-05-31 07250984 core:OfficeEquipment 2023-06-01 2024-05-31 07250984 core:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 07250984 core:OtherVehicles 2023-06-01 2024-05-31 07250984 core:PlantMachinery 2023-06-01 2024-05-31 07250984 countries:England 2023-06-01 2024-05-31 07250984 1 2023-06-01 2024-05-31 07250984 2023-05-31 07250984 core:OtherResidualIntangibleAssets 2023-05-31 07250984 core:FurnitureFittingsToolsEquipment 2023-05-31 07250984 core:LandBuildings 2023-05-31 07250984 core:MotorVehicles 2023-05-31 07250984 core:OtherPropertyPlantEquipment 2023-05-31 07250984 1 2023-05-31 07250984 2022-06-01 2023-05-31 07250984 2023-05-31 07250984 core:CurrentFinancialInstruments 2023-05-31 07250984 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 07250984 core:Non-currentFinancialInstruments 2023-05-31 07250984 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 07250984 core:OtherResidualIntangibleAssets 2023-05-31 07250984 core:FurnitureFittingsToolsEquipment 2023-05-31 07250984 core:LandBuildings 2023-05-31 07250984 core:MotorVehicles 2023-05-31 07250984 core:OtherPropertyPlantEquipment 2023-05-31 07250984 1 2023-05-31 07250984 1 2022-06-01 2023-05-31 07250984 1 2022-05-31 iso4217:GBP xbrli:pure

Registration number: 07250984

The Cambridge Gun Club Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2024

 

The Cambridge Gun Club Limited
(Registration number: 07250984)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 12

 

The Cambridge Gun Club Limited
(Registration number: 07250984)

Company Information

Directors

M Hodson

K Hodson

Registered office

Chear Fen Farm
Long Drove
Cottenham
Cambridgeshire
CB24 8AH

Registered number

07250984

 

The Cambridge Gun Club Limited
(Registration number: 07250984)

Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

5

229,209

225,918

Current assets

 

Stocks

6

826,330

756,232

Debtors

7

9,942

4,348

Cash at bank and in hand

 

37,031

65,761

 

873,303

826,341

Creditors: Amounts falling due within one year

8

(214,602)

(204,841)

Net current assets

 

658,701

621,500

Total assets less current liabilities

 

887,910

847,418

Creditors: Amounts falling due after more than one year

8

(631,378)

(678,150)

Net assets

 

256,532

169,268

Capital and Reserves

 

Called up share capital

2

2

Retained Earnings

256,530

169,266

Shareholders' funds

 

256,532

169,268

 

The Cambridge Gun Club Limited
(Registration number: 07250984)

Balance Sheet as at 31 May 2024

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 February 2025 and signed on its behalf by:
 

.........................................
M Hodson
Director

.........................................
K Hodson
Director

 

The Cambridge Gun Club Limited
(Registration number: 07250984)

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Chear Fen Farm
Long Drove
Cottenham
Cambridgeshire
CB24 8AH

These financial statements were authorised for issue by the Board on 25 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

The Cambridge Gun Club Limited
(Registration number: 07250984)

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant, machinery and vehicles

25% per annum

Equipment, fixtures and fittings

25% per annum

Land and buildings - business property

10% straight line

Earth bunds

Not depreciated

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

The Cambridge Gun Club Limited
(Registration number: 07250984)

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Trade Creditors

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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

The Cambridge Gun Club Limited
(Registration number: 07250984)

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2023 - 10).

4

Intangible assets

Online shop
£

Total
£

Cost or valuation

At 1 June 2023

5,193

5,193

At 31 May 2024

5,193

5,193

Amortisation

At 1 June 2023

5,193

5,193

At 31 May 2024

5,193

5,193

Carrying amount

At 31 May 2024

-

-

At 31 May 2023

-

-

 

The Cambridge Gun Club Limited
(Registration number: 07250984)

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

5

Tangible Assets

Land and buildings
£

Motor vehicles
£

Equipment, fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 June 2023

147,871

35,373

117,355

489,104

789,703

Additions

2,366

-

17,698

20,980

41,044

At 31 May 2024

150,237

35,373

135,053

510,084

830,747

Depreciation

At 1 June 2023

31,890

16,336

76,914

439,445

564,585

Charge for the year

-

4,944

14,534

17,475

36,953

At 31 May 2024

31,890

21,280

91,448

456,920

601,538

Carrying amount

At 31 May 2024

118,347

14,093

43,605

53,164

229,209

At 31 May 2023

116,782

19,037

40,441

49,658

225,918

Included within the net book value of land and buildings above is £118,347 (2023 - £116,782) in respect of freehold land and buildings.
 

 

The Cambridge Gun Club Limited
(Registration number: 07250984)

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

6

Stocks

2024
£

2023
£

Clays

5,267

14,844

Cartridges

33,953

15,968

Shop items for resale

392,774

327,034

New guns

361,420

378,221

2nd hand guns

32,916

20,165

826,330

756,232

7

Debtors

The directors have reviewed trade debtors for impairment and consider the impairment losses to be provided for the year are £Nil (2023 - £Nil)

All amounts are due within one year.

Current

2024
£

2023
£

Trade Debtors

9,942

4,348

 

9,942

4,348

 

The Cambridge Gun Club Limited
(Registration number: 07250984)

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

10,000

10,000

Trade Creditors

 

104,826

109,188

Taxation and social security

 

77,766

57,239

Accruals and deferred income

 

3,764

3,995

Other creditors

 

18,246

24,419

 

214,602

204,841

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

631,378

678,150

 

The Cambridge Gun Club Limited
(Registration number: 07250984)

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

20,000

Other borrowings

621,378

658,150

631,378

678,150

 

The Cambridge Gun Club Limited
(Registration number: 07250984)

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

10

Related party transactions

Transactions with directors

2024

At 1 June 2023
£
 

Advances to directors
£
 

Repayments by directors
£
 

At 31 May 2024
£
 

M & K Hodson

658,150

(73,912)

37,140

621,378

         
       

 

2023

At 1 June 2022
£

Advances to director
£

Repayments by director
£

At 31 May 2023
£

M & K Hodson

582,255

(14,105)

90,000

658,150

 

The directors have made a loan to the company which has no fixed date for repayment. The directors have taken the choice afforded by FRED 67 to record the balance on their Directors loan account at transaction value.

The directors loan account balance includes interest, charged to the profit and loss account of £22,765 (2023 - £26,349) on loans taken by the company directors to purchase land and buildings, which are occupied rent free and used for business purposes by the company. The capital outstanding on the loan is not included on the balance sheet. Since inception the interest charged to the profit and loss account on these loans amounts to £608,409 (2023 - £585,644).