H P S Target Rifles Limited - Limited company - abbreviated - 11.0.0
H P S Target Rifles Limited - Limited company - abbreviated - 11.0.0
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts |
| for the Year Ended 31 December 2013 |
| for |
| H P S Target Rifles Limited |
| H P S Target Rifles Limited (Registered number: 03807238) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 31 December 2013 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| H P S Target Rifles Limited |
| Company Information |
| for the Year Ended 31 December 2013 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| H P S Target Rifles Limited (Registered number: 03807238) |
| Abbreviated Balance Sheet |
| 31 December 2013 |
| 2013 | 2012 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 3 |
| Capital redemption reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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 financial statements were approved by the Board of Directors on |
| H P S Target Rifles Limited (Registered number: 03807238) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31 December 2013 |
| 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). |
| The company conducted a reconstruction after the year end to split the business operations into 2 separate |
| companies. Fixed Assets and Stock have therefore been revalued by an independent valuer to fair value. |
| Turnover |
| Turnover represents the value of goods sold during the period net of value added tax. Turnover is recognised |
| when goods are physically delivered to the customer. |
| Invoiced deliveries are included in debtors. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| At 31 December 2012 the stock has been valued by an independent valuation specialist in readiness for a |
| company reconstruction in 2013. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. Timing differences are differences between the taxable profits and the results as stated in the |
| financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from |
| those in which they are recognised in the financial statements. |
| A net deferred tax asset is regarded as recoverable and therefore recognised only when it can be regarded as |
| more likely than not that there will be suitable taxable profits from which the future reversal of underlying timing |
| differences can be deducted. |
| Deferred tax is not recognised when fixed assets are revalued unless by the balance sheet date there is a binding |
| agreement to sell the revalued assets and the assets have been revalued to selling price. Neither is deferred tax |
| recognised when fixed assets are sold and it is more likely than not that the taxable gain will be rolled over, |
| being charged to tax only if and when replacement assets are sold. |
| Deferred tax is measured at the average rates that are expected to apply in the periods in which the timing |
| differences are expected to reverse, based on tax rates and laws that have been enacted by the balance sheet date. |
| Deferred tax is measured on a non-discounted basis. |
| H P S Target Rifles Limited (Registered number: 03807238) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 December 2013 |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 January 2013 |
| Additions |
| Disposals | ( |
) |
| At 31 December 2013 |
| DEPRECIATION |
| At 1 January 2013 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 December 2013 |
| NET BOOK VALUE |
| At 31 December 2013 |
| At 31 December 2012 |
| 3. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2013 | 2012 |
| value: | £ | £ |
| Ordinary | 1 |
| On 28 June 2013 the company redesignated the issued share capital of 1000 ordinary shares into 500 A shares of |
| £1 each and 500 B shares of £1 each. On the same date the company paid a dividend on the B shares and |
| cancelled all 500 B shares reducing the share capital of the company to 500 A shares of £1 each. |
| 4. | RELATED PARTY DISCLOSURES |
| Dividends taken on A shares during the year amounted to £6,000. Following reorganisation a dividend was |
| taken on B shares amounting to £141,416 taken as the System Gemini trade and associated assets. |
| On 28 June 2013 the trade and assets of System Gemini were transferred to Robert Nibbs Riflemakers Limited a |
| company in which Mr R Nibbs was the director. Mr R Nibbs resigned as a director of HPS Target Rifles on 31 |
| December 2012. |