York Guns Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 03512413 (England and Wales)

YORK GUNS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2017

Page

Company Information

1

Abridged Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTOR:

J C Smith

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

4

27,878

36,250

CURRENT ASSETS

Stocks

1,224,378

1,564,660

Debtors

5

87,652

112,523

Cash at bank and in hand

234,212

149,143

1,546,242

1,826,326

CREDITORS

Amounts falling due within one year

274,779

585,782

NET CURRENT ASSETS

1,271,463

1,240,544

TOTAL ASSETS LESS CURRENT LIABILITIES

1,299,341

1,276,794

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

1,299,339

1,276,792

SHAREHOLDERS' FUNDS

1,299,341

1,276,794

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2017 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 28 February 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the director on 28 November 2017 and were signed by:

J C Smith - Director

1.	STATUTORY INFORMATION

York Guns Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information

page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

First year adoption

This is the first year in which the financial statements have been prepared under FRS102.

No changes in accounting policies, and therefore no changes in the previously stated financial

position and performance, are considered to have been required on the transition from the previous

financial reporting framework.

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss

account, except to the extent that it relates to items recognised in other comprehensive income or

directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

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 arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable

profits.

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 profit or loss on a straight line basis over the period

of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 29 February 2016

374,498

Additions

15,250

At 28 February 2017

389,748

DEPRECIATION

At 29 February 2016

338,248

Charge for year

23,622

At 28 February 2017

361,870

NET BOOK VALUE

At 28 February 2017

27,878

At 28 February 2016

36,250

5.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other debtors

31,611

21,627

6.	RELATED PARTY DISCLOSURES