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REGISTERED NUMBER: SC451839 (Scotland)











































Borders Gun Room Limited

Unaudited Financial Statements

for the Year Ended 30th June 2024






Borders Gun Room Limited (Registered number: SC451839)






Contents of the Financial Statements
for the year ended 30th June 2024




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 7


Borders Gun Room Limited

Company Information
for the year ended 30th June 2024







Directors: S M Twite
Ms L Mumford





Registered office: Borders Gun Shop
Main Street
St. Boswells
Melrose
Roxburghshire
TD6 0AA





Registered number: SC451839 (Scotland)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Borders Gun Room Limited (Registered number: SC451839)

Balance Sheet
30th June 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 1,646 1,726
1,646 1,726

Current assets
Stocks 225,750 212,700
Debtors 6 2,950 6,696
Cash at bank and in hand 48 1,451
228,748 220,847
Creditors
Amounts falling due within one year 7 185,141 153,368
Net current assets 43,607 67,479
Total assets less current liabilities 45,253 69,205

Creditors
Amounts falling due after more than one
year

8

(9,748

)

(20,071

)

Provisions for liabilities (277 ) (292 )
Net assets 35,228 48,842

Capital and reserves
Called up share capital 100 100
Retained earnings 35,128 48,742
Shareholders' funds 35,228 48,842

Borders Gun Room Limited (Registered number: SC451839)

Balance Sheet - continued
30th June 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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 Board of Directors and authorised for issue on 17th March 2025 and were signed on its behalf by:





S M Twite - Director


Borders Gun Room Limited (Registered number: SC451839)

Notes to the Financial Statements
for the year ended 30th June 2024

1. Statutory information

Borders Gun Room Limited is a private company, limited by shares , registered in Scotland. 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 represents the total invoice value, excluding value added tax, of sales invoiced during the year, or the fair value of services provided for amounts not invoiced at the year end.

Turnover arising from from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer. Turnover arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business in 2014, has now been fully amortised over it's estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Equipment - 20% on cost
Fixtures and fittings - 20% on reducing balance
Office equipment - 25% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost includes all direct expenditure and appropriate proportion of fixed and variable overheads. Net realisable value is based on estimated selling prices less further costs expected to be incurred in bringing the stock to completion.

Borders Gun Room Limited (Registered number: SC451839)

Notes to the Financial Statements - continued
for the year ended 30th June 2024

2. Accounting policies - continued

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, accruals, bank overdrafts, bank loans and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors, trade creditors, accruals and bank overdrafts are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the statement of income and retained earnings in the period in which they are incurred.

Borders Gun Room Limited (Registered number: SC451839)

Notes to the Financial Statements - continued
for the year ended 30th June 2024

2. Accounting policies - continued

Going concern
The directors have considered the company's financial position for a minimum period of 12 months and beyond from the date of signing these financial statements and have an expectation that the company should be in a position to continue trading in the current format for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

3. Employees and directors

The average number of employees during the year was 5 (2023 - 5 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1st July 2023
and 30th June 2024 10,000
Amortisation
At 1st July 2023
and 30th June 2024 10,000
Net book value
At 30th June 2024 -
At 30th June 2023 -

5. Tangible fixed assets
Fixtures
and Office
Equipment fittings equipment Totals
£    £    £    £   
Cost
At 1st July 2023 6,543 10,680 7,565 24,788
Additions - - 765 765
At 30th June 2024 6,543 10,680 8,330 25,553
Depreciation
At 1st July 2023 6,543 9,533 6,986 23,062
Charge for year - 229 616 845
At 30th June 2024 6,543 9,762 7,602 23,907
Net book value
At 30th June 2024 - 918 728 1,646
At 30th June 2023 - 1,147 579 1,726

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 2,950 6,036
Other debtors - 660
2,950 6,696

Borders Gun Room Limited (Registered number: SC451839)

Notes to the Financial Statements - continued
for the year ended 30th June 2024

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 25,530 18,416
Trade creditors 147,152 96,678
Taxation and social security 5,577 4,511
Other creditors 6,882 33,763
185,141 153,368

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 9,748 20,071

9. Other financial commitments

At 30th June 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £Nil (2023 - £2,347).