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REGISTERED NUMBER: 08173427 (England and Wales)















JAMES AUCTIONEERS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023






JAMES AUCTIONEERS LIMITED (REGISTERED NUMBER: 08173427)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JAMES AUCTIONEERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTOR: Mr J Kemsley





REGISTERED OFFICE: King Arthurs Court
Maidstone Road
Charing
Ashford
Kent
TN27 0JS





REGISTERED NUMBER: 08173427 (England and Wales)





ACCOUNTANTS: Spurling Cannon
Chartered Certified Accountants
424 Margate Road
Westwood
Ramsgate
Kent
CT12 6SJ

JAMES AUCTIONEERS LIMITED (REGISTERED NUMBER: 08173427)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,076 2,769

CURRENT ASSETS
Stocks 5 86,382 91,174
Debtors 6 9,000 -
Cash at bank 70,938 67,631
166,320 158,805
CREDITORS
Amounts falling due within one year 7 (59,884 ) (64,995 )
NET CURRENT ASSETS 106,436 93,810
TOTAL ASSETS LESS CURRENT
LIABILITIES

108,512

96,579

CREDITORS
Amounts falling due after more than one
year

8

(56,938

)

(71,347

)
NET ASSETS 51,574 25,232

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 51,474 25,132
SHAREHOLDERS' FUNDS 51,574 25,232

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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.

JAMES AUCTIONEERS LIMITED (REGISTERED NUMBER: 08173427)

BALANCE SHEET - continued
31 AUGUST 2023


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 director and authorised for issue on 5 February 2024 and were signed by:





Mr J Kemsley - Director


JAMES AUCTIONEERS LIMITED (REGISTERED NUMBER: 08173427)

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

1. STATUTORY INFORMATION

James 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixture & Fittings - 25% on reducing balance
Computer equipment - 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 Income Statement, 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.

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 1 (2022 - 1 ) .

JAMES AUCTIONEERS LIMITED (REGISTERED NUMBER: 08173427)

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

4. TANGIBLE FIXED ASSETS
Fixture & Computer
Fittings equipment Totals
£    £    £   
COST
At 1 September 2022
and 31 August 2023 2,389 15,000 17,389
DEPRECIATION
At 1 September 2022 2,231 12,389 14,620
Charge for year 40 653 693
At 31 August 2023 2,271 13,042 15,313
NET BOOK VALUE
At 31 August 2023 118 1,958 2,076
At 31 August 2022 158 2,611 2,769

5. STOCKS
2023 2022
£    £   
Stocks 86,382 91,174

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Sundry debtors 9,000 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,556 5,556
Hire purchase contracts 35,905 32,727
Corporation Tax 11,876 7,536
VAT 5,251 2,739
Sundry creditors - 273
Directors' current accounts 47 13,618
Accrued expenses 1,249 2,546
59,884 64,995

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 32,854 37,500
Hire purchase contracts 24,084 33,847
56,938 71,347

JAMES AUCTIONEERS LIMITED (REGISTERED NUMBER: 08173427)

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

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary Share Capital 1 100 100