York Guns Limited - Limited company - abbreviated

REGISTERED NUMBER: 03512413 (England and Wales)

YORK GUNS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 28 FEBRUARY 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

DIRECTORS:

J C Smith

D J Thompson

SECRETARY:

J C Smith

REGISTERED OFFICE:

Camsey House

Fox Oak Park

Common Road Dunnington

York

North Yorkshire

YO19 5RZ

REGISTERED NUMBER:

03512413 (England and Wales)

ACCOUNTANTS:

UHY Calvert Smith

Chartered Accountants

31 St Saviourgate

York

YO1 8NQ

FIXED ASSETS

Tangible assets

2

57,397

74,027

CURRENT ASSETS

Stocks

1,548,090

1,459,316

Debtors

3

130,416

201,509

Cash at bank and in hand

61,053

99,068

1,739,559

1,759,893

CREDITORS

Amounts falling due within one year

628,911

744,632

NET CURRENT ASSETS

1,110,648

1,015,261

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,168,045

1,089,288

CAPITAL AND RESERVES

Called up share capital

4

2

Profit and loss account

1,168,043

1,089,286

SHAREHOLDERS' FUNDS

1,168,045

1,089,288

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 24 November 2015 and were signed on its
behalf by:

J C Smith - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents the value of goods sold in the year in the course of the company's principal activity as a

wholesaler and retailer of firearms and related items, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures, fittings & equipment

-

Straight line over 3 to 5 years

Motor vehicles

-

25% on 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Deferred tax assets are only recognised in the financial statements where it is considered more likely than

not that future deferred tax liabilities or other future taxable profits will exist to allow their recovery.

Deferred tax assets are classified as amounts falling due after more than one year when they are not

expected to crystallise in full in the next year.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange

ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating

result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over

the period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2014

356,522

Additions

13,000

At 28 February 2015

369,522

DEPRECIATION

At 1 March 2014

282,495

Charge for year

29,630

At 28 February 2015

312,125

NET BOOK VALUE

At 28 February 2015

57,397

At 28 February 2014

74,027

3.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

The aggregate total of debtors falling due after more than one year is £ 66,485 (2014 - £ 86,045 )

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

2

Ordinary

£1

2

York Guns Limited - Limited company - abbreviated - 11.9

York Guns Limited - Limited company - abbreviated - 11.9