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REGISTERED NUMBER: 07476809 (England and Wales)















BULLET VENTURES LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






BULLET VENTURES LTD (REGISTERED NUMBER: 07476809)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BULLET VENTURES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTOR: Mr T J A de Pelet





REGISTERED OFFICE: The Hornits' Nest
45 Denmark Road
Exeter
EX1 1SG





BUSINESS ADDRESS: 1 Barnfield Crescent
Exeter
EX1 1QT





REGISTERED NUMBER: 07476809 (England and Wales)





ACCOUNTANTS: My Business Centre Limited
Jacob's Pool House
11 West Street
Okehampton
Devon
EX20 1HQ

BULLET VENTURES LTD (REGISTERED NUMBER: 07476809)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 30,116 44,275
Tangible assets 5 13,039 24,763
43,155 69,038

CURRENT ASSETS
Stocks 455,648 570,583
Debtors 6 45,984 149,573
Cash at bank 514,434 497,098
1,016,066 1,217,254
CREDITORS
Amounts falling due within one year 7 166,046 309,006
NET CURRENT ASSETS 850,020 908,248
TOTAL ASSETS LESS CURRENT
LIABILITIES

893,175

977,286

CREDITORS
Amounts falling due after more than one
year

8

-

(49,583

)

PROVISIONS FOR LIABILITIES (2,477 ) (4,705 )
NET ASSETS 890,698 922,998

CAPITAL AND RESERVES
Called up share capital 12 12
Share premium 100,498 100,498
Retained earnings 790,188 822,488
890,698 922,998

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

BULLET VENTURES LTD (REGISTERED NUMBER: 07476809)

BALANCE SHEET - continued
31 DECEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 April 2025 and were signed by:





Mr T J A de Pelet - Director


BULLET VENTURES LTD (REGISTERED NUMBER: 07476809)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Bullet Ventures Ltd 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.

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.

Patents and licences are being amortised evenly over their estimated useful life of eight years.

Development costs are being amortised evenly over their estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Computer equipment - 25% on cost

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 Income Statement, 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.

BULLET VENTURES LTD (REGISTERED NUMBER: 07476809)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2024
and 31 December 2024 104,230
AMORTISATION
At 1 January 2024 59,955
Charge for year 14,159
At 31 December 2024 74,114
NET BOOK VALUE
At 31 December 2024 30,116
At 31 December 2023 44,275

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 January 2024 165,685 14,033 179,718
Additions 1,035 1,582 2,617
Disposals - (4,078 ) (4,078 )
At 31 December 2024 166,720 11,537 178,257
DEPRECIATION
At 1 January 2024 144,900 10,055 154,955
Charge for year 12,664 1,464 14,128
Eliminated on disposal - (3,865 ) (3,865 )
At 31 December 2024 157,564 7,654 165,218
NET BOOK VALUE
At 31 December 2024 9,156 3,883 13,039
At 31 December 2023 20,785 3,978 24,763

BULLET VENTURES LTD (REGISTERED NUMBER: 07476809)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,636 10,468
Other debtors 34,405 129,824
Prepayments 7,943 9,281
45,984 149,573

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans - 35,000
Trade creditors 25,217 27,586
Tax 5,115 6,057
Social security and other taxes 9,115 9,306
VAT 40,667 44,067
Other creditors 53,830 76,546
Accrued expenses 32,102 110,444
166,046 309,006

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other loans due in over 1 year - 49,583