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REGISTERED NUMBER: 08100255 (England and Wales)








Unaudited Financial Statements

For The Year Ended 31 August 2023

for

Plymouth Auction Rooms Limited

Plymouth Auction Rooms Limited (Registered number: 08100255)






Contents of the Financial Statements
For The Year Ended 31 August 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


Plymouth Auction Rooms Limited (Registered number: 08100255)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 27,000 30,000
Tangible assets 5 9,951 10,976
36,951 40,976

CURRENT ASSETS
Debtors 6 68,601 88,144
Cash at bank and in hand 33,770 73,577
102,371 161,721
CREDITORS
Amounts falling due within one year 7 70,484 79,977
NET CURRENT ASSETS 31,887 81,744
TOTAL ASSETS LESS CURRENT
LIABILITIES

68,838

122,720

CREDITORS
Amounts falling due after more than one
year

8

(12,201

)

(19,519

)

PROVISIONS FOR LIABILITIES (1,707 ) (895 )
NET ASSETS 54,930 102,306

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 54,830 102,206
SHAREHOLDERS' FUNDS 54,930 102,306

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.

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 8 April 2024 and were signed by:




P J Keen - Director


Plymouth Auction Rooms Limited (Registered number: 08100255)

Notes to the Financial Statements
For The Year Ended 31 August 2023

1. STATUTORY INFORMATION

Plymouth Auction Rooms Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08100255

Registered office: Plymouth Auction Rooms
359 Faraday Mill Trade Park
Cattedown
Plymouth
Devon
PL4 0SE

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 represents the charge of commission and related services, net of VAT. Turnover is recognised after the completion of an auction and offers have been accepted on goods being held for resale. An adjustment will be made if there is a significant risk of default.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, 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.
Plant and machinery etc - 25% on cost and 15% on reducing balance

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.

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 5 (2022 - 4 ) .

Plymouth Auction Rooms Limited (Registered number: 08100255)

Notes to the Financial Statements - continued
For The Year Ended 31 August 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022
and 31 August 2023 60,000
AMORTISATION
At 1 September 2022 30,000
Charge for year 3,000
At 31 August 2023 33,000
NET BOOK VALUE
At 31 August 2023 27,000
At 31 August 2022 30,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022 32,141
Additions 1,194
At 31 August 2023 33,335
DEPRECIATION
At 1 September 2022 21,165
Charge for year 2,219
At 31 August 2023 23,384
NET BOOK VALUE
At 31 August 2023 9,951
At 31 August 2022 10,976

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 66,755 47,208
Other debtors 1,846 40,936
68,601 88,144

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts 6,549 5,829
Trade creditors 25,168 56,635
Taxation and social security 23,055 15,292
Other creditors 15,712 2,221
70,484 79,977

Plymouth Auction Rooms Limited (Registered number: 08100255)

Notes to the Financial Statements - continued
For The Year Ended 31 August 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans 12,201 19,519

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2023 and 31 August 2022:

31.8.23 31.8.22
£    £   
P J Keen
Balance outstanding at start of year 39,565 (10,593 )
Amounts advanced 58,632 53,790
Amounts repaid (111,069 ) (3,632 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (12,872 ) 39,565

Loans are interest free and repayable on demand.