BULLET SYSTEMS (LONDON) LIMITED - Accounts

BULLET SYSTEMS (LONDON) LIMITED - Accounts

BULLET SYSTEMS (LONDON) LIMITED - Company Information

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Registered Number: 03623012
England and Wales

 

 

 

BULLET SYSTEMS (LONDON) LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 January 2022

End date: 31 December 2022

BULLET SYSTEMS (LONDON) LIMITED
Contents Page
For the year ended 31 December 2022
Report to the directors on the preparation of the unaudited statutory accounts of BULLET SYSTEMS (LONDON) LIMITED for the year ended 31 December 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of BULLET SYSTEMS (LONDON) LIMITED for the year ended 31 December 2022 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of BULLET SYSTEMS (LONDON) LIMITED, as a body, in accordance with the terms of our engagement letter dated 01 August 2019 Our work has been undertaken solely to prepare for your approval the accounts of BULLET SYSTEMS (LONDON) LIMITED and state those matters that we have agreed to state to the Board of Directors of BULLET SYSTEMS (LONDON) LIMITED, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BULLET SYSTEMS (LONDON) LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that BULLET SYSTEMS (LONDON) LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of BULLET SYSTEMS (LONDON) LIMITED. You consider that BULLET SYSTEMS (LONDON) LIMITED is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of BULLET SYSTEMS (LONDON) LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 December 2022



....................................................
RAGAVAN AND CO LTD
CHARTERED CERTIFIED ACCOUNTANTS
240 GROVE LANE
BIRMINGHAM
WEST MIDLANDS
B20 2EY
25 September 2023
1
 
 		 Notes
 		 2022
£		   2021
£
Fixed assets      
Tangible fixed assets 3 674    947 
674    947 
Current assets      
Stocks 2,125    2,125 
Debtors 46,992    17,361 
Cash at bank and in hand 18,899    42,655 
68,016    62,141 
Creditors: amount falling due within one year (34,385)   (24,800)
Net current assets 33,631    37,341 
 
Total assets less current liabilities 34,305    38,288 
Creditors: amount falling due after more than one year (33,485)   (37,426)
Net assets 820    862 
 

Capital and reserves 		     
Called up share capital 100    100 
Profit and loss account 720    762 
Shareholder's funds 820    862 
 


For the year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 25 September 2023 and were signed on its behalf by:


-------------------------------
SUMMAN Lehmber Ram
Director
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General Information
BULLET SYSTEMS (LONDON) LIMITED is a private company, limited by shares, registered in England and Wales, registration number 03623012, registration address OFFICE 9-10, BUSINESS CENTRE WEST, LETCHWORTH BUSINESS PARK AVENUE ONE , LETCHWORTH GARDEN CITY, HERTFORDSHIRE, SG6 2HB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 33% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 3 (2021 : 4).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 January 2022 24,056    24,056 
Additions 405    405 
Disposals -    - 
At 31 December 2022 24,461    24,461 
Depreciation
At 01 January 2022 23,107    23,107 
Charge for year 680    680 
On disposals -    - 
At 31 December 2022 23,787    23,787 
Net book values
Closing balance as at 31 December 2022 674    674 
Opening balance as at 01 January 2022 947    947 


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