Company Registration No. 03196132 (England and Wales)
THE WEST LONDON GUN COMPANY LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2015
THE WEST LONDON GUN COMPANY LIMITED
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2
Notes to the abbreviated accounts
3 - 4
THE WEST LONDON GUN COMPANY LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE WEST LONDON GUN COMPANY LIMITED FOR THE YEAR ENDED 31 JANUARY 2015
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The West London Gun Company Limited for the year ended 31 January 2015 set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
This report is made solely to the Board of Directors of The West London Gun Company Limited, as a body, in accordance with the terms of our engagement letter
.
Our work has been undertaken solely to prepare for your approval the financial statements of The West London Gun Company Limited and state those matters that we have agreed to state to the Board of Directors of The West London Gun Company Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The West London Gun Company Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that The West London Gun Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The West London Gun Company Limited. You consider that The West London Gun Company 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 financial statements of The West London Gun Company 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 financial statements.
Ellacotts LLP
28 October 2015
Accountants
Countrywide House
23 West Bar
Banbury
Oxfordshire
England
OX16 9SA
THE WEST LONDON GUN COMPANY LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JANUARY 2015
31 January 2015
- 2 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
804
1,668
Current assets
Stocks
451,206
339,506
Debtors
47,001
74,611
Cash at bank and in hand
35,699
77,383
533,906
491,500
Creditors: amounts falling due within one year
(139,664)
(84,290)
Net current assets
394,242
407,210
Total assets less current liabilities
395,046
408,878
Creditors: amounts falling due after more than one year
(391,285)
(411,742)
3,761
(2,864)
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
3,661
(2,964)
Shareholders' funds
3,761
(2,864)
For the financial year ended 31 January 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 28 October 2015
Mr R P Richmond-Watson
Director
Company Registration No. 03196132
THE WEST LONDON GUN COMPANY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2015
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1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
20% straight line
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
2
Fixed assets
Tangible assets
£
Cost
At 1 February 2014 & at 31 January 2015
39,813
Depreciation
At 1 February 2014
38,144
Charge for the year
865
At 31 January 2015
39,009
Net book value
At 31 January 2015
804
At 31 January 2014
1,668
THE WEST LONDON GUN COMPANY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2015
- 4 -
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100
100 of £1 each
100
100
2015-01-31
2014-02-01
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true
true
true
true
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