Company Registration No. 08336459 (England and Wales)
UK Airsoft Limited
Unaudited accounts
for the year ended 31 December 2018
UK Airsoft Limited
Unaudited accounts
Contents
UK Airsoft Limited
Company Information
for the year ended 31 December 2018
Directors
Mr. S Fletcher
Mr. S Morley
Mr. N Jones
Mrs. D M Jones
Company Number
08336459 (England and Wales)
Registered Office
254 Infirmary Road
Sheffield
South Yorkshire
S6 3DL
England
Accountants
R D Lang
La Plage
La Grande Route de la Cote
St. Clement
Jersey, CI
JE2 6FT
UK Airsoft Limited
Statement of financial position
as at
31 December 2018
Intangible assets
39,196
-
Tangible assets
190,586
19,106
Cash at bank and in hand
7,428
3,679
Creditors: amounts falling due within one year
(76,777)
(20,643)
Net current (liabilities)/assets
(34,875)
6,801
Total assets less current liabilities
194,907
25,907
Creditors: amounts falling due after more than one year
(235,604)
(33,776)
Net liabilities
(40,697)
(7,869)
Called up share capital
100
100
Profit and loss account
(40,797)
(7,969)
Shareholders' funds
(40,697)
(7,869)
For the year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 30 September 2019.
Mr. S Fletcher
Director
Company Registration No. 08336459
UK Airsoft Limited
Notes to the Accounts
for the year ended 31 December 2018
UK Airsoft Limited is a private company, limited by shares, registered in England and Wales, registration number 08336459. The registered office is 254 Infirmary Road, Sheffield, South Yorkshire, S6 3DL, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard with the exception that intangible assets were not amortised during the year.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
5% on cost per annum
Plant & machinery
20% on cost per annum
Motor vehicles
25% on cost per annum
Fixtures & fittings
20% on cost per annum
Computer equipment
25% on cost per annum
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. No work in progress is held.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company purchased the assets of Trent Leisure Limited during the financial year which included goodwill, intellectual property rights and domain names. These are shown in the financial statements at cost and will be amortised by the directors from 2019.
UK Airsoft Limited
Notes to the Accounts
for the year ended 31 December 2018
4
Intangible fixed assets
Goodwill
Other
Total
Additions
19,191
20,005
39,196
At 31 December 2018
19,191
20,005
39,196
At 31 December 2018
-
-
-
At 31 December 2018
19,191
20,005
39,196
As set out under note 3 above, intangible fixed assets are shown in the financial statements at cost and will be amortised from 2019.
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 January 2018
-
1,300
13,450
13,436
-
28,186
Additions
65,000
118,190
1,500
5,955
1,582
192,227
At 31 December 2018
65,000
119,490
14,950
19,391
1,582
220,413
At 1 January 2018
-
507
5,885
2,688
-
9,080
Charge for the year
1,625
12,144
3,551
3,283
144
20,747
At 31 December 2018
1,625
12,651
9,436
5,971
144
29,827
At 31 December 2018
63,375
106,839
5,514
13,420
1,438
190,586
At 31 December 2017
-
793
7,565
10,748
-
19,106
Finished goods
12,642
4,893
Other debtors
21,392
18,872
UK Airsoft Limited
Notes to the Accounts
for the year ended 31 December 2018
8
Creditors: amounts falling due within one year
2018
2017
Bank loans and overdrafts
20,049
5,686
Obligations under finance leases and hire purchase contracts
11,791
2,190
Trade creditors
20,659
2,857
Taxes and social security
9,471
9,260
9
Creditors: amounts falling due after more than one year
2018
2017
Bank loans
172,222
29,116
Obligations under finance leases and hire purchase contracts
-
4,660
Included in other creditors is an unsecured loan of £55,000 due to Mr. P and Mrs D. Williams. The exact terms of the loan have yet to be determined, with the exception that repayment must be made over a period not exceeding 5 years.
10
Share capital
2018
2017
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
11
Average number of employees
During the year the average number of employees was 9 (2017: 5).