10-Q
  Commission
        File Number:   2-71136
 
 DETONICS
        SMALL ARMS LIMITED
 (Exact
        name of registrant as specified in it's charter)
 
 Washington
              91-1150122(State
                  or other Jurisdiction of incorporation or organization)
              (IRS
                  Employer ID No.)
 
 14508
        SE
        51st, Bellevue, WA 98006
 (Address
        and zip code of principal executive offices)
 
 Registrant's
        telephone number, including area code: (425) 746-6761
 
 
 Indicate
        by check mark whether the registrant (1) has filed all reports required to
        be
        filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
        the
        preceding 12 months (or for such shorter period that the registrant was required
        to file such reports), and (2) has been subject to such filing requirements
        for
        the past 90 days.
 
 Yes 
                   T
              No 
                   £
 
 DOCUMENTS
        INCORPORATED BY REFERENCE
 
 Form
        S-1,
        Detonics Small Arms Limited, Commission File No. 2-71136, but excluding the
        balance sheet of Detonics Small Arms Limited together with the report of
        independent certified public accountants, is incorporated by
        reference.
 
 
 PART
        I -
        FINANCIAL INFORMATION
 
 Item
                  1:
              Financial
                  Statements
 
 See
        Appendix A
 
 Item
                  2:
              Management's
                  Discussion and Analysis of the Financial Condition and Results
                  of
                  Operations
 
 No
        royalties or other income were booked in the second quarter of
        2007.
  
  The
        partnership originally had licensed the manufacturing and sale of its products
        to Detonics Manufacturing Corporation (DMC) a subsidiary of Energy Sciences
        Corporation, (ESC). DMC, ESC and the Partnership entered Chapter 11 bankruptcy
        proceedings on April 29, 1986. In late 1987, the Bankruptcy Court approved
        a
        sale of all of DMC's assets to a new entity, formed by outside third parties,
        called New Detonics Manufacturing Corporation, (NDMC). By subsequent majority
        vote of the limited partners of the Partnership, a new license was entered
        into
        between the Partnership and NDMC, which called for royalties to begin in
        late
        1991 at the rate of 4% of gross sales. No partnership income was expected
        before
        that time.
 
 On
        May
        13, 1988, ESC's bankruptcy was dismissed and all remaining assets were
        repossessed by the sole secured creditor of ESC, the firm of Murphy & Elgot.
        These assets are primarily amounts owed to ESC by the partnerships and the
        rights to produce products owned by the partnerships. The general partners
        had
        discussions with Mr. Murphy, (who was also counsel for ESC and the
        partnerships), on the elimination of most or all the debt owed by the
        Partnership to ESC, (and, therefor to Murphy & Elgot).
 
 As
        previously reported, the general partners learned in late 1991 that production
        of firearms at NDMC was suspended in 1991. The general partners have
        subsequently been advised that Murphy & Elgot, the sole secured creditors of
        the original DMC, have moved to have the "soft" assets (the name "Detonics"
        and
        the right to manufacture the Detonics designs) which were assigned to NDMC
        by
        the Bankruptcy Court be returned to Murphy & Elgot and Moore. This occured
        in September 1992. Mr. Murphy passed away in 1997. The general partners have
        had
        discussions with Mr. Elgot regarding future attempts to recommercialize the
        products and he indicated he would approve any recommercialization plan that
        the
        general partners would be able to obtain. The general partners had been
        discussing such plans with a third party. Royalty amounts of 5% of gross
        sales
        have been verbally agreed to, but no written agreement had been prepared
        or
        signed as of December 31, 2002. It was learned in April 2003 that this plan
        would not take place. Mr. Ahern continued to explore other financing sources
        and
        the partnership has signed a three year agreement with Mr. Ahern giving him
        the
        exclusive right to seek funding or a partner to reestablish production. There
        can be no guarantee that it will be possible to arrange for production of
        any of
        the Partnership's products.
 
 Mr.
        Ahern
        was successful in finding a backer and a new company named Detonics USA LLC
        was
        formed (not owned by the partnership) The partnership signed a license agreement
        with Detonics USA LLC which involves a royalty of about 5% of gross sales
        of
        each of the partnership's products manufactured and sold, appropriately divided
        among all the firearms partnerships and shared with Mark Elgot and Richard
        Moore
        in the ratio of 35% to Elgot and Moore combined and 65% to the partnership(s)
        whose products ahve been sold. There can be no assurance that Detonics USA
        will
        succeed and that royalties will be paid.
 
 Sid
        Woodcock, co-General Partner of the partnership was V.P. of Research &
Development. Michel Maes, also co-General and Managing Partner of the
        partnership, is a principal and co-owner of an electronics company. Mr. Maes
        is
        not a stock holder and has not played an active role in Detonics USA
        LLC.
 
  The
        General Partners were recently made aware that Detonics USA had been sold
        but
        that shortly thereafter the sale had been voided. The General Partners have
        been
        in touch with Detonics USA to determine the status of the company, their
        plans
        for the future and the payment of any royalties due but have not heard anything
        definitive yet.
 
 
 PART
        II -
        OTHER INFORMATION
 
 Item
                  1:
              Legal
                  Proceedings
 
 The
        staff
        of the Securities and Exchange Commission's Division of Enforcement recommended
        to the Commission that it authorize the staff to file a civil injunction
        action
        against the Partnership and Messrs. Maes and Steffey to require timely filing
        of
        reports with the commission. Such an injunction was entered on June 25, 1986.
        All subsequent reports have been timely filed.
  On
        October 16, 1989 the U.S. Bankruptcy Court ordered the conversion of the
        partnership's Chapter 11 to a Chapter 7. On May 11, 1990, the partnership
        filed
        an amended motion to dismiss the Chapter 7. The motion was granted on June
        21,
        1990 and the partnership is no longer in bankruptcy.
 
 In
        March
        1993, the partnership received a "Notice of Beginning of Administrative
        Proceeding" from the Internal Revenue Service. The issue was a possible finding
        that the partnership "burned out" and is subject to recapture. The general
        partners are of the position that the products and the partnership remain
        viable. In July, 1993, the general partners received notification from the
        IRS
        that they did not intend to make any changes as a result of that Administrave
        Proceeding. The IRS has the right to bring the subject up again.
 
 Item
                  2:
              Changes
                  In Securities: None
 
 Item
                  3:
              Defaults
                  Upon Senior Securities: None
 
 Item
                  4:
              Submission
                  Of Matters To A Vote Of Security Holders:
                  None
 
 Item
                  5:
              Other
                  Information: None
 
 Item
                  6:
              Exhibits,
                  Financial Statement Schedules, and Reports on Form
                  8-K
 
 a)
              Documents
                  filed as part of this Report: Unaudited financial
                  statement.
 
 b)
              Reports
                  on Form 8-K: None.
 
 Item
                  9:
              Disagreements
                  on Accounting and Financial Disclosure
                  Matters
  TASA
        has
        no independent accountant at present, in accordance with Rule 3-11 of Regulation
        S-X
 
  Item
                  9A
              Controls
                  and Procedures
  The
        Partnership's disclosure controls and procedures are designed to ensure that
        information required to be disclosed in reports that are filed or submitted
        under the Securities Exchange Act of 1934, as amended, is recorded, processed,
        summerized and reported within the time periods specified in the rules and
        forms
        of the Securities and Exchange Commission. Disclosure controls and procedures
        include, without limitation, controls and proceedures designed to ensure
        that
        information required to be disclosed by an issuer in the reports that it
        files
        or submits under the Act is accumulated and communicated to the issuer's
        management including its principal executive and principal financial officers,
        or persons performing similar functions (the Managing General Partner), as
        appropriate to allow timely decisions regarding required
        disclosure.
 
 The
        Managing General Partner has reviewed the effectiveness of the Partnership's
        disclosure controls and procedures as of the end of the period covered by
        this
        Form 10-Q report and have concluded that the disclosure controls and proceedures
        are effective.
 
 There
        were no changes in our internal control over financial reporting during the
        three months ended June 30, 2007 that have materially affected, or are
        reasonably likely to materially affect, our internal control over financial
        reporting.
  9B
              Other
                  Information
 
 None
  
 
 Appendix
        A
 
 DETONICS
        SMALL ARMS LIMITED
 BALANCE
        SHEET
 June
        30,
        2007
 (UNAUDITED)
 ASSETSCash
                
                $
                0Royalties
                    Receivable
                
                
                0TOTAL
                    CURRENT ASSETS
                
                $
                0Intangible
                    Assets Less Amortization
                
                
                0Receivable
                    from Affiliates Less Allowance
                
                
                0TOTAL
                    ASSETS
                
                $
                0LIABILITIES
                    AND PARTNERS' EQUITYAccounts
                    Payable
                
                $
                0Taxes
                    Payable
                
                
                0TOTAL
                    CURRENT LIABILITIES
                
                
                0Payable
                    to Affiliates
                
                
                672,769TOTAL
                    LIABILITIES
                
                
                672,769Partners'
                    Capital
                
                
                (672,769
                )TOTAL
                    LIABILITIES AND PARTNER'S EQUITY
                
                
                0
  
 
 DETONICS
          SMALL ARMS LIMITED
 STATEMENT
          OF INCOME
 FOR
          THE
          QUARTER ENDING
 June
          30,
          2007
 (UNAUDITED)
 
 
 Royalty
                    Revenue
                
                $
                0Expenses
                
                
                0Net
                    Income (Loss)
                
                $
                0
 
 NOTE:
          The
          products owned by the Partnership were licensed to New Detonics Manufacturing
          Corporation (NDMC). Under the terms of that license, royalties were not
          scheduled to be paid to the Partnership until late 1991. NDMC suspended
          production of all firearms and the license with NDMC has been terminated.
          A new
          license agreement was signed with Detonics USA in August 2004.
 
 
 DETONICS
          SMALL ARMS LIMITED
 STATEMENT
          OF CASH FLOWS
 FOR
          THE
          QUARTER ENDING
 June
          30,
          2007
 (UNAUDITED)
 
 
 Net
                    Cash Provided By Operating Activities
                
                $
                0Net
                    Cash Used By Investing Activities
                
                
                0Net
                    Cash Provided By Financing Activities
                
                
                0Net
                    Increase In Cash
                
                $
                0Cash
                    At Beginning Of Period
                
                $
                0Cash
                    At End Of Period
                
                $
                0
  
  SIGNATURES
 
 Pursuant
          to the Requirements of the Securities Exchange Act of 1934, the registrant
          has
          duly caused this report to be signed on its behalf by the undersigned thereunto
          duly authorized.
  DETONICS
                    SMALL ARMS LIMITED(Registrant)7/26/07
                /S/
                    Michel E. Maes, Managing General Partner(Date)
                (Signature)