Registered number
10549382
I.S Sweetman Gun & Rifle Makers Ltd
Filleted Accounts
31 January 2025
I.S Sweetman Gun & Rifle Makers Ltd
Registered number: 10549382
Balance Sheet
as at 31 January 2025
Notes 2025 2024
£ £
Fixed assets
Intangible assets 3 63,400 -
Tangible assets 4 7,186 4,581
70,586 4,581
Current assets
Debtors 5 27,553 25,702
Cash at bank and in hand 24,394 11,518
51,947 37,220
Creditors: amounts falling due within one year 6 (24,749) (15,310)
Net current assets 27,198 21,910
Total assets less current liabilities 97,784 26,491
Creditors: amounts falling due after more than one year 7 (69,636) (6,876)
Net assets 28,148 19,615
Capital and reserves
Called up share capital 1 1
Profit and loss account 28,147 19,614
Shareholder's funds 28,148 19,615
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
……………………………………..
Ian Sweetman
Director
Approved by the board on 14 July 2025
I.S Sweetman Gun & Rifle Makers Ltd
Notes to the Accounts
for the year ended 31 January 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
Additions 63,400
At 31 January 2025 63,400
Amortisation
At 31 January 2025 -
Net book value
At 31 January 2025 63,400
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2024 6,997 4,195 11,192
Additions 5,000 - 5,000
At 31 January 2025 11,997 4,195 16,192
Depreciation
At 1 February 2024 3,743 2,868 6,611
Charge for the year 2,063 332 2,395
At 31 January 2025 5,806 3,200 9,006
Net book value
At 31 January 2025 6,191 995 7,186
At 31 January 2024 3,254 1,327 4,581
5 Debtors 2025 2024
£ £
Trade debtors 13,620 21,806
Corporation tax debtor 6,021 585
Directors account 7,912 1,911
Other debtors - 1,400
27,553 25,702
6 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 4,000 4,000
Taxation and social security costs 19,663 10,410
Other creditors 1,086 900
24,749 15,310
7 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 2,876 6,876
Other creditors 66,760 -
69,636 6,876
8 Other information
I.S Sweetman Gun & Rifle Makers Ltd is a private company limited by shares and incorporated in England. Its registered office is:
8 New Road
Linslade
Leighton Buzzard
Bedfordshire
LU7 2LX
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