REGISTERED NUMBER:
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LEEDS AIRSOFT LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 MAY 2021 |
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REGISTERED NUMBER:
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LEEDS AIRSOFT LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 MAY 2021 |
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LEEDS AIRSOFT LIMITED (REGISTERED NUMBER: 10215389) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 MAY 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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LEEDS AIRSOFT LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 MAY 2021 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
27a Lidget Hill |
Pudsey |
Leeds |
West Yorkshire |
LS28 7LG |
LEEDS AIRSOFT LIMITED (REGISTERED NUMBER: 10215389) |
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BALANCE SHEET |
30 MAY 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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( |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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( |
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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. |
LEEDS AIRSOFT LIMITED (REGISTERED NUMBER: 10215389) |
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BALANCE SHEET - continued |
30 MAY 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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LEEDS AIRSOFT LIMITED (REGISTERED NUMBER: 10215389) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 MAY 2021 |
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1. | STATUTORY INFORMATION |
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Leeds Airsoft Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Financial instruments |
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument. |
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Financial assets and liabilities are initially measured at transaction price,except for those financial assets classified as at fair value through profit or loss. |
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Basic financial instruments |
Basic financial instruments are those with relatively straight forward terms and would normally include cash, bank balances, trade debtors, trade creditors and uncomplicated bank loans. |
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Where the arrangement does not constitute a financing transaction, e.g. trade debtors on normal commercial terms, the debtor will be valued initially at transaction price (i.e cost) and subsequently at transaction price less impairment (if any) due to concerns over recoverability. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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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. |
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Going concern |
The accounts have been prepared on a going concern basis due to the continued financial support of the director and the director's view as to future profitability. |
LEEDS AIRSOFT LIMITED (REGISTERED NUMBER: 10215389) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 MAY 2021 |
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2. | ACCOUNTING POLICIES - continued |
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Government grants |
The company received government grants in respect of coronavirus support. These grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the performance model. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 31 May 2020 |
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Additions |
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At 30 May 2021 |
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DEPRECIATION |
At 31 May 2020 |
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Charge for year |
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At 30 May 2021 |
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NET BOOK VALUE |
At 30 May 2021 |
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At 30 May 2020 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2021 | 2020 |
£ | £ |
Bank loans |
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LEEDS AIRSOFT LIMITED (REGISTERED NUMBER: 10215389) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 MAY 2021 |
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8. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2021 | 2020 |
£ | £ |
Within one year |
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9. | COVID-19 |
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Following the Government's announcement of the first UK lockdown In March 2020, the company suspended its services until August 2020. |
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Due to further lockdowns the company had to again suspend its services from November 2020 until May 2021. However, trading has continued steadily since the re-opening. |
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In order to protect the company and its employees, advantage was taken of the government Coronavirus Job Retention Scheme and the company received local authority grants. In addition the company received a Government backed bank loan. |