Accounts filed on 31-12-2019

Accounts filed on 31-12-2019

BULLET SYSTEMS (LONDON) LIMITED - Company Information

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Registered number: 03623012
BULLET SYSTEMS (LONDON) LIMITED
ACCOUNTS
FOR THE YEAR ENDED 31/12/2019
Prepared By:
RAGAVAN AND CO LTD
Chartered Certified Accountants
240 GROVE LANE
BIRMINGHAM
WEST MIDLANDS
B20 2EY
BULLET SYSTEMS (LONDON) LIMITED
ACCOUNTS
FOR THE YEAR ENDED 31/12/2019
DIRECTORS
GARETH JONES
LEHMBER RAM SUMMAN
REGISTERED OFFICE
COMPANY DETAILS
registered in ENGLAND, registered number 03623012
ACCOUNTANTS
RAGAVAN AND CO LTD
Chartered Certified Accountants
240 GROVE LANE
BIRMINGHAM
WEST MIDLANDS
B20 2EY
BULLET SYSTEMS (LONDON) LIMITED
ACCOUNTS
FOR THEYEARENDED31/12/2019
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
BULLET SYSTEMS (LONDON) LIMITED
BALANCE SHEET AT 31/12/2019
20192018
Notes££
FIXED ASSETS
Tangible assets3436376
CURRENT ASSETS
Stock2,1252,000
Debtors535,26337,036
Cash at bank and in hand2,80912,034
40,19751,070
CREDITORS: Amounts falling due within one year648,57863,928
NET CURRENT LIABILITIES(8,381)(12,858)
TOTAL ASSETS LESS CURRENT LIABILITIES(7,945)(12,482)
CAPITAL AND RESERVES
Called up share capital7100100
Profit and loss account(8,045)(12,582)
SHAREHOLDERS' FUNDS(7,945)(12,482)
For the year ending 31/12/2019 the company was entitled to exemption 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.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 18/12/2020 and signed on their behalf by
.............................
LEHMBER RAM SUMMAN
Director
BULLET SYSTEMS (LONDON) LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/12/2019
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Equipmentstraight line 33%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
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 a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1d. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
2. EMPLOYEES
20192018
No.No.
Average number of employees4-
BULLET SYSTEMS (LONDON) LIMITED
3. TANGIBLE FIXED ASSETS
EquipmentTotal
££
Cost
At 01/01/201921,77121,771
Additions650650
At 31/12/201922,42122,421
Depreciation
At 01/01/201921,39521,395
For the year590590
At 31/12/201921,98521,985
Net Book Amounts
At 31/12/2019436436
At 31/12/2018376376
4. STOCK 20192018
££
Stock comprises:
Stock2,1252,000
2,1252,000
5. DEBTORS 20192018
££
Amounts falling due within one year
Trade debtors33,60635,367
Other debtors-12
Prepayments1,6571,657
35,26337,036
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20192018
££
UK corporation tax1,0505,617
VAT2302,050
PAYE control397-
Directors current account29,42441,994
Trade creditors15,47712,267
Accruals2,0002,000
48,57863,928
BULLET SYSTEMS (LONDON) LIMITED
7. SHARE CAPITAL 20192018
££
Allotted, issued and fully paid:
100 Ordinary shares of £1 each100100
100100