Registered number
10805365
Atkins Auctions Ltd
Filleted Accounts
30 June 2023
Atkins Auctions Ltd
Registered number: 10805365
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 27,954 18,980
Current assets
Debtors 4 38,470 18,808
Cash at bank and in hand 1,671 46,276
40,141 65,084
Creditors: amounts falling due within one year 5 (37,410) (63,825)
Net current assets 2,731 1,259
Total assets less current liabilities 30,685 20,239
Creditors: amounts falling due after more than one year 6 (24,168) (15,833)
Provisions for liabilities (5,311) (3,606)
Net assets 1,206 800
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,106 700
Shareholders' funds 1,206 800
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr P Atkins
Director
Approved by the board on 25 October 2023
Atkins Auctions Ltd
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2022 32,803 4,250 37,053
Additions - 18,295 18,295
At 30 June 2023 32,803 22,545 55,348
Depreciation
At 1 July 2022 14,831 3,242 18,073
Charge for the year 4,495 4,826 9,321
At 30 June 2023 19,326 8,068 27,394
Net book value
At 30 June 2023 13,477 14,477 27,954
At 30 June 2022 17,972 1,008 18,980
4 Debtors 2023 2022
£ £
Other debtors 38,470 18,808
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 9,632 5,000
Trade creditors 16,182 10,867
Taxation and social security costs 10,282 18,316
Other creditors 1,314 29,642
37,410 63,825
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 18,168 15,833
Other creditors 6,000 -
24,168 15,833
7 Controlling party
The company is controlled by the directors.
8 Other information
Atkins Auctions Ltd is a private company limited by shares and incorporated in England. Its registered office is:
The Loft, Unit 11
Hunthay Business Park
Axminster
Devon
EX13 5RJ
Atkins Auctions Ltd 10805365 false 2022-07-01 2023-06-30 2023-06-30 VT Final Accounts March 2021 (final release) Mr P Atkins No description of principal activity 10805365 2021-07-01 2022-06-30 10805365 core:WithinOneYear 2022-06-30 10805365 core:AfterOneYear 2022-06-30 10805365 core:ShareCapital 2022-06-30 10805365 core:RetainedEarningsAccumulatedLosses 2022-06-30 10805365 2022-07-01 2023-06-30 10805365 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 10805365 bus:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 10805365 bus:Director40 2022-07-01 2023-06-30 10805365 1 2022-07-01 2023-06-30 10805365 2 2022-07-01 2023-06-30 10805365 core:PlantMachinery 2022-07-01 2023-06-30 10805365 core:Vehicles 2022-07-01 2023-06-30 10805365 countries:England 2022-07-01 2023-06-30 10805365 bus:FRS102 2022-07-01 2023-06-30 10805365 bus:FullAccounts 2022-07-01 2023-06-30 10805365 2023-06-30 10805365 core:WithinOneYear 2023-06-30 10805365 core:AfterOneYear 2023-06-30 10805365 core:ShareCapital 2023-06-30 10805365 core:RetainedEarningsAccumulatedLosses 2023-06-30 10805365 core:PlantMachinery 2023-06-30 10805365 core:Vehicles 2023-06-30 10805365 2022-06-30 10805365 core:PlantMachinery 2022-06-30 10805365 core:Vehicles 2022-06-30 iso4217:GBP xbrli:pure