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REGISTERED NUMBER: 07566669 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

RICHARD WINTERTON AUCTIONEERS LIMITED

RICHARD WINTERTON AUCTIONEERS LIMITED (REGISTERED NUMBER: 07566669)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RICHARD WINTERTON AUCTIONEERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr R J Winterton
Mrs J H Winterton





REGISTERED OFFICE: The Lichfield Auction Centre
Wood End Lane
Fradley Park
Lichfield
Staffordshire
WS13 8NF





REGISTERED NUMBER: 07566669 (England and Wales)





ACCOUNTANT: Wynniatt-Husey Ltd
Chartered Accountants
The Old Coach House
Horsefair
Rugeley
Staffordshire
WS15 2EL

RICHARD WINTERTON AUCTIONEERS LIMITED (REGISTERED NUMBER: 07566669)

BALANCE SHEET
31 MARCH 2023

31.3.22 31.3.23
£    £    Notes £    £   
FIXED ASSETS
35,600 Intangible assets 4 33,375
88,526 Tangible assets 5 95,142
124,126 128,517

CURRENT ASSETS
22,500 Stocks 6 80,000
331,418 Debtors 7 303,004
131,854 Cash at bank and in hand 230,648
485,772 613,652
CREDITORS
599,795 Amounts falling due within one year 8 740,326
(114,023 ) NET CURRENT LIABILITIES (126,674 )
10,103 TOTAL ASSETS LESS CURRENT
LIABILITIES

1,843

CAPITAL AND RESERVES
2 Called up share capital 2
10,101 Retained earnings 1,841
10,103 SHAREHOLDERS' FUNDS 1,843

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 October 2023 and were signed on its behalf by:



Mr R J Winterton - Director


RICHARD WINTERTON AUCTIONEERS LIMITED (REGISTERED NUMBER: 07566669)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Goodwill is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 46 (2022 - 41 ) .

RICHARD WINTERTON AUCTIONEERS LIMITED (REGISTERED NUMBER: 07566669)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2022
and 31 March 2023 44,500
AMORTISATION
At 1 April 2022 8,900
Charge for year 2,225
At 31 March 2023 11,125
NET BOOK VALUE
At 31 March 2023 33,375
At 31 March 2022 35,600

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
Totals fittings vehicles equipment
£    £    £    £   
COST
At 1 April 2022 261,852 117,211 74,831 69,810
Additions 53,088 7,047 39,750 6,291
At 31 March 2023 314,940 124,258 114,581 76,101
DEPRECIATION
At 1 April 2022 173,326 69,737 52,724 50,865
Charge for year 46,472 10,528 28,645 7,299
At 31 March 2023 219,798 80,265 81,369 58,164
NET BOOK VALUE
At 31 March 2023 95,142 43,993 33,212 17,937
At 31 March 2022 88,526 47,474 22,107 18,945

6. STOCKS
31.3.23 31.3.22
£    £   
Work-in-progress 80,000 22,500

RICHARD WINTERTON AUCTIONEERS LIMITED (REGISTERED NUMBER: 07566669)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 51,633 101,856
Client a/c debtors 224,395 182,414
Other debtors 2,920 4,118
Prepayments 24,056 43,030
303,004 331,418

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bounce back loan 22,442 29,167
Hire Purchase 37,542 -
Trade creditors 54,077 39,278
Client a/c creditors 371,203 270,328
Tax - (6,814 )
VAT 60,480 26,234
Paye control 14,768 13,881
Pension creditor 4,308 3,618
Directors' current accounts 158,525 205,621
Accrued expenses 16,981 18,482
740,326 599,795