Company Registration No. 08428537 (England and Wales)
SWILLINGTON SHOOTING SUPPLIES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
SWILLINGTON SHOOTING SUPPLIES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
SWILLINGTON SHOOTING SUPPLIES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
781,336
878,836
Tangible assets
2
32,200
37,828
813,536
916,664
Current assets
Stocks
1,511,620
1,374,193
Debtors
1,454
4,315
Cash at bank and in hand
29,249
74,397
1,542,323
1,452,905
Creditors: amounts falling due within one year
(2,104,019)
(2,269,947)
Net current liabilities
(561,696)
(817,042)
Total assets less current liabilities
251,840
99,622
Provisions for liabilities
(3,921)
(4,498)
247,919
95,124
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
247,819
95,024
Shareholders' funds
247,919
95,124
SWILLINGTON SHOOTING SUPPLIES LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2015
31 March 2015
- 2 -
For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The 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 Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 14 December 2015
Mr Andrew Chapman
Mr Christopher Chapman
Director
Director
Company Registration No. 08428537
SWILLINGTON SHOOTING SUPPLIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
10% Straight line
Fixtures, fittings & equipment
20% and 25% Straight line
Motor vehicles
20% Straight line
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
SWILLINGTON SHOOTING SUPPLIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2014
975,000
105,314
1,080,314
Additions
-
6,542
6,542
Disposals
-
(4,332)
(4,332)
At 31 March 2015
975,000
107,524
1,082,524
Depreciation
At 1 April 2014
96,164
67,486
163,650
On disposals
-
(4,318)
(4,318)
Charge for the year
97,500
12,156
109,656
At 31 March 2015
193,664
75,324
268,988
Net book value
At 31 March 2015
781,336
32,200
813,536
At 31 March 2014
878,836
37,828
916,664
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100
4
Transactions with directors
During the year Swillington Shooting Supplies Limited paid Mr A C Chapman travel expenses of £210 ( 2014 £507 ).