Registered number
12053210
Niche Auctions Ltd
Filleted Accounts
30 June 2023
Niche Auctions Ltd
Registered number: 12053210
Balance Sheet
as at 30 June 2023
Notes 2023
£
Current assets
Cash at bank and in hand 549
Creditors: amounts falling due within one year 3 (8,230)
Net current liabilities (7,681)
Net liabilities (7,681)
Capital and reserves
Called up share capital 100
Profit and loss account (7,781)
Shareholders' funds (7,681)
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.
N Acheson
Director
Approved by the board on 21 February 2024
Niche 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.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023
Number
Average number of persons employed by the company 0
3 Creditors: amounts falling due within one year 2023
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest 7,510
Other creditors 720
8,230
4 Other information
Niche Auctions Ltd is a private company limited by shares and incorporated in England. Its registered office is:
9 High Street
Wellington
Somerset
TA21 8QT
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