Company registration number 03177108 (England and Wales)
TAL ARMS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
30 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
10 Bridge Street
Christchurch
Dorset
BH23 1EF
TAL ARMS LTD
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
TAL ARMS LTD
COMPANY INFORMATION
- 1 -
Director
Mr T A Leyland
Company number
03177108
Registered office
8 St Catherine's Parade
Fairmile Road
Christchurch
Dorset
United Kingdom
BH23 2LQ
Accountants
TC Group
10 Bridge Street
Christchurch
Dorset
BH23 1EF
TAL ARMS LTD
BALANCE SHEET
AS AT
30 MARCH 2024
30 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
600
900
Tangible assets
4
12,545
16,725
13,145
17,625
Current assets
Stocks
90,366
103,464
Debtors
5
52,648
52,924
Cash at bank and in hand
34,462
41,328
177,476
197,716
Creditors: amounts falling due within one year
6
(76,402)
(106,199)
Net current assets
101,074
91,517
Total assets less current liabilities
114,219
109,142
Creditors: amounts falling due after more than one year
7
(20,837)
(30,840)
Provisions for liabilities
(2,383)
(2,282)
Net assets
90,999
76,020
Capital and reserves
Called up share capital
8
2
2
Profit and loss reserves
90,997
76,018
Total equity
90,999
76,020
TAL ARMS LTD
BALANCE SHEET (CONTINUED)
AS AT
30 MARCH 2024
30 March 2024
- 3 -

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 30 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 18 March 2025
Mr T A Leyland
Director
Company Registration No. 03177108
The notes on pages 4 to 8 form part of these financial statements
TAL ARMS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 MARCH 2024
- 4 -
1
Accounting policies
Company information

TAL Arms Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 8 St Catherine's Parade, Fairmile Road, Christchurch, Dorset, United Kingdom, BH23 2LQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is twenty years.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% on the reducing balance
Computers
25% on the reducing balance
Motor vehicles
25% on the redcuing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

TAL ARMS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
1.6
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 current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

TAL ARMS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 MARCH 2024
1
Accounting policies
(Continued)
- 6 -
1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
2023
Number
Number
Total
4
4
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023 and 30 March 2024
6,000
Amortisation and impairment
At 1 April 2023
5,100
Amortisation charged for the period
300
At 30 March 2024
5,400
Carrying amount
At 30 March 2024
600
At 31 March 2023
900
TAL ARMS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 MARCH 2024
- 7 -
4
Tangible fixed assets
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2023 and 30 March 2024
38,916
15,677
35,280
89,873
Depreciation and impairment
At 1 April 2023
37,398
11,212
24,538
73,148
Depreciation charged in the period
379
1,116
2,685
4,180
At 30 March 2024
37,777
12,328
27,223
77,328
Carrying amount
At 30 March 2024
1,139
3,349
8,057
12,545
At 31 March 2023
1,518
4,465
10,742
16,725
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
40,384
33,386
Other debtors
10,608
17,499
Prepayments and accrued income
1,656
2,039
52,648
52,924
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,002
10,000
Trade creditors
45,737
62,694
Taxation and social security
17,401
11,746
Other creditors
315
18,812
Accruals and deferred income
2,947
2,947
76,402
106,199
TAL ARMS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 MARCH 2024
- 8 -
7
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
20,837
30,840
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
2
2
2
2
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