Company registration number 03797375 (England and Wales)
NSRA LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
NSRA LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
NSRA LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,703,410
1,792,255
Investments
4
-
0
1
1,703,410
1,792,256
Current assets
Stocks
77,875
58,267
Debtors
5
20,208
25,030
Cash at bank and in hand
150,107
144,858
248,190
228,155
Creditors: amounts falling due within one year
6
(1,064,545)
(1,207,101)
Net current liabilities
(816,355)
(978,946)
Total assets less current liabilities
887,055
813,310
Creditors: amounts falling due after more than one year
7
(1,602,702)
(1,679,856)
Net liabilities
(715,647)
(866,546)
Capital and reserves
Called up share capital
248,002
248,002
Profit and loss reserves
(963,649)
(1,114,548)
Total equity
(715,647)
(866,546)
NSRA LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2025
31 December 2025
- 2 -

For the financial year ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

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

The financial statements were approved by the board of directors and authorised for issue on 31 July 2026 and are signed on its behalf by:
T. Shorey
Director
Company registration number 03797375 (England and Wales)
NSRA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
1
Accounting policies
Company information

NSRA Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bisley Camp, Brookwood, Woking, Surrey, GU24 0NP.

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 a mounts in these financial statements are rounded to the nearest £.

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

1.2
Going concern

The company relies on the continued support of its parent company, the National Small-Bore Rifle Association a registered charity, to enable it to continue to operate within its working capital facilities in the current economic environment. The parent company has provided continued support in respect of an inter-company loan during the current financial year. The parent company has provided written agreement that it will not seek repayment of any debts until such time as the company has funds in excess of its working capital requirements and guarantees support for a period not less than twelve months from signing the financial statements.

The directors have considered this in light of the going concern basis and see the continuation of this funding as an important factor. They have also noted that the company has sufficient regular income from activities at the Lord Roberts Centre an this is expected to continue.

The parent company has made disclosures regarding the continued support of bondholders and other loans and also negotiations to receive increased rental income in order to prepare the financial statements on a going concern basis. In addition the parent company has received written guarantees from its largest loan holders that funds will not be recalled in the next twelve months from the date of signing the financial statements. The ability of the parent company to continue support is dependent on these bondholders and future agreements.

This represents a material uncertainty which may cast doubt on both the parent company and company's ability to continue as a going concern.

The financial statements do not include any adjustments that would result from a withdrawal of the funding by the bondholders, or collapse of the above agreements. This represents the main critical judgement in preparing the financial statements.

However, based on this income and funding being secured, the directors have a reasonable expectations that the company will continue in operational existence for the foreseeable future. Accordingly they have adopted the going concern basis in preparing the directors' report and financial statements.

1.3
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. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

NSRA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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:

Leasehold land and buildings
2% straight line
Plant and machinery
5% and 10% straight line

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
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell after making due allowance for obsolete and slow-moving stock.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as an expense in the period in which the reversal occurs.

1.8
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.

NSRA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 5 -
1.9
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.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.10
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.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

NSRA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 6 -
1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.13
Government grants

Government grants are recognised at the fair value of the asset receive d 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.

1.14

Lottery grants

Lottery grants relating to tangible fixed assets are treated as deferred income and released to the profit and loss account over the expected useful lives of the assets concerned. Other grants are credited to the profit and loss account as the related expenditure is incurred.

2
Employees

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

2025
2024
Number
Number
Total
0
0
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2025
3,400,277
1,164,694
4,564,971
Disposals
-
0
(1,324)
(1,324)
At 31 December 2025
3,400,277
1,163,370
4,563,647
Depreciation and impairment
At 1 January 2025
1,675,461
1,097,255
2,772,716
Depreciation charged in the year
68,212
19,309
87,521
At 31 December 2025
1,743,673
1,116,564
2,860,237
Carrying amount
At 31 December 2025
1,656,604
46,806
1,703,410
At 31 December 2024
1,724,816
67,439
1,792,255
NSRA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
4
Fixed asset investments
2025
2024
£
£
Investment in subsidiary
-
0
1
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 January 2025
1
Disposals
(1)
At 31 December 2025
-
Carrying amount
At 31 December 2025
-
At 31 December 2024
1
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
8,276
2,700
Other debtors
11,932
22,330
20,208
25,030
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
5,730
11,251
Trade creditors
44,784
49,808
Amounts owed to group undertakings
882,621
1,012,574
Taxation and social security
32,436
8,979
Other creditors
98,974
124,489
1,064,545
1,207,101
NSRA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
-
0
8,266
Other creditors
1,602,702
1,671,590
1,602,702
1,679,856

The company was previously granted lottery funds through Sport England to build and equip its freehold premises, which encompass a purpose built national range to ISSF standards.

In certain circumstances the grant could become repayable and this is a normal requirement for such funding. The grant is secured by a fixed and floating charge over the assets of the company. It is not anticipated that any repayment will be required.

8
Parent company

The ultimate and immediate parent company is the National Small-Bore Rifle Association. As NSRA Limited is wholly owned by the National Small-Bore Rifle Association, which prepares consolidated financial statements, no disclosure is made of the transactions within the group.

Accounts of the Association can be obtained from the Secretary, National Small-Bore Rifle Association, Lord Roberts Centre, Bisley Camp, Brookwood, Woking, Surrey, GU24 0NP.

2025-12-31 2025-01-01 false false false CCH Software CCH Accounts Production 2026.100 No description of principal activity M.J. Chapman T. Shorey 03797375 2025-01-01 2025-12-31 03797375 2025-12-31 03797375 2024-12-31 03797375 core:LandBuildings 2025-12-31 03797375 core:OtherPropertyPlantEquipment 2025-12-31 03797375 core:LandBuildings 2024-12-31 03797375 core:OtherPropertyPlantEquipment 2024-12-31 03797375 core:CurrentFinancialInstruments core:WithinOneYear 2025-12-31 03797375 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 03797375 core:Non-currentFinancialInstruments core:AfterOneYear 2025-12-31 03797375 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 03797375 core:ShareCapital 2025-12-31 03797375 core:ShareCapital 2024-12-31 03797375 core:RetainedEarningsAccumulatedLosses 2025-12-31 03797375 core:RetainedEarningsAccumulatedLosses 2024-12-31 03797375 bus:Director2 2025-01-01 2025-12-31 03797375 core:LandBuildings core:LongLeaseholdAssets 2025-01-01 2025-12-31 03797375 core:PlantMachinery 2025-01-01 2025-12-31 03797375 2024-01-01 2024-12-31 03797375 core:LandBuildings 2024-12-31 03797375 core:OtherPropertyPlantEquipment 2024-12-31 03797375 2024-12-31 03797375 core:LandBuildings 2025-01-01 2025-12-31 03797375 core:OtherPropertyPlantEquipment 2025-01-01 2025-12-31 03797375 core:CurrentFinancialInstruments 2025-12-31 03797375 core:CurrentFinancialInstruments 2024-12-31 03797375 core:Non-currentFinancialInstruments 2025-12-31 03797375 core:Non-currentFinancialInstruments 2024-12-31 03797375 bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 03797375 bus:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 03797375 bus:FRS102 2025-01-01 2025-12-31 03797375 bus:AuditExempt-NoAccountantsReport 2025-01-01 2025-12-31 03797375 bus:Director1 2025-01-01 2025-12-31 03797375 bus:FullAccounts 2025-01-01 2025-12-31 xbrli:pure xbrli:shares iso4217:GBP