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REGISTERED NUMBER: 00221903 (England and Wales)











Financial Statements

for the Year Ended 31st March 2024

for

Brockholes Arms Auction Mart,limited

Brockholes Arms Auction Mart,limited (Registered number: 00221903)

Contents of the Financial Statements
for the Year Ended 31st March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Brockholes Arms Auction Mart,limited

Company Information
for the Year Ended 31st March 2024







DIRECTORS: J Singleton
RT Eccles
JS Thompson
P Mason
T Garlick
D Hargreaves
R Fryars
DR Thistlethwaite
WH Myerscough


SECRETARY: RT Eccles


REGISTERED OFFICE: Garstang Road
Claughton-on-Brock
Garstang
Preston
Lancashire
PR3 0PH


REGISTERED NUMBER: 00221903 (England and Wales)


ACCOUNTANTS: Towers + Gornall Ltd
Chartered Certified Accountants
River View
96 High Street
Garstang
Preston
Lancashire
PR3 1WZ


BANKERS: National Westminster Bank PLC
Market Place
Garstang
Preston
Lancashire
PR3 1XD


SOLICITORS: Harrison Drury
Cherestanc Square
Rope Walk
Garstang
Preston
PR3 1EF

Brockholes Arms Auction Mart,limited (Registered number: 00221903)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 406,874 438,380

CURRENT ASSETS
Debtors 5 353,875 172,313
Cash at bank and in hand 80,348 118,908
434,223 291,221
CREDITORS
Amounts falling due within one year 6 142,350 69,658
NET CURRENT ASSETS 291,873 221,563
TOTAL ASSETS LESS CURRENT
LIABILITIES

698,747

659,943

CREDITORS
Amounts falling due after more than one
year

7

(29,837

)

(50,209

)

PROVISIONS FOR LIABILITIES (27,057 ) (17,754 )
NET ASSETS 641,853 591,980

CAPITAL AND RESERVES
Called up share capital 2,640 2,640
Share premium 9 8,960 8,960
Capital redemption reserve 9 1,400 1,400
Retained earnings 9 628,853 578,980
SHAREHOLDERS' FUNDS 641,853 591,980

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.

Brockholes Arms Auction Mart,limited (Registered number: 00221903)

Balance Sheet - continued
31st March 2024


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 18th June 2024 and were signed on its behalf by:




WH Myerscough - Director



DR Thistlethwaite - Director


Brockholes Arms Auction Mart,limited (Registered number: 00221903)

Notes to the Financial Statements
for the Year Ended 31st March 2024


1. STATUTORY INFORMATION

Brockholes Arms Auction Mart,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 represents net invoiced commission on sale of goods, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold land - not provided
Rental units - in accordance with the property
Plant and machinery - 15% on reducing balance
Buildings, pens, hurdles and car park - 15% on reducing balance
Weighbridges - 25% on reducing balance

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

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 21 (2023 - 19 ) .

Brockholes Arms Auction Mart,limited (Registered number: 00221903)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024


4. TANGIBLE FIXED ASSETS
Freehold Rental Plant and
land units machinery
£    £    £   
COST
At 1st April 2023 69,703 183,642 180,844
Additions - 2,610 5,675
Disposals - - (5,177 )
At 31st March 2024 69,703 186,252 181,342
DEPRECIATION
At 1st April 2023 - 16,470 113,427
Charge for year - 9,183 10,214
Eliminated on disposal - - (4,919 )
At 31st March 2024 - 25,653 118,722
NET BOOK VALUE
At 31st March 2024 69,703 160,599 62,620
At 31st March 2023 69,703 167,172 67,417

Buildings,
pens,
hurdles
and car
park Weighbridges Totals
£    £    £   
COST
At 1st April 2023 761,337 24,361 1,219,887
Additions - - 8,285
Disposals - - (5,177 )
At 31st March 2024 761,337 24,361 1,222,995
DEPRECIATION
At 1st April 2023 627,486 24,124 781,507
Charge for year 20,077 59 39,533
Eliminated on disposal - - (4,919 )
At 31st March 2024 647,563 24,183 816,121
NET BOOK VALUE
At 31st March 2024 113,774 178 406,874
At 31st March 2023 133,851 237 438,380

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 349,059 167,694
Prepayments and accrued income 4,816 4,619
353,875 172,313

Brockholes Arms Auction Mart,limited (Registered number: 00221903)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 48,227 22,648
Trade creditors 19,961 23,102
Corporation tax 26,094 2,905
VAT 29,433 11,438
Accruals and deferred income 18,635 9,565
142,350 69,658

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loan 29,837 50,209

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft 25,094 -
Bank loans 23,133 22,648
Other loans 29,837 50,209
78,064 72,857

9. RESERVES
Capital
Retained Share redemption
earnings premium reserve Totals
£    £    £    £   

At 1st April 2023 578,980 8,960 1,400 589,340
Profit for the year 49,873 49,873
At 31st March 2024 628,853 8,960 1,400 639,213

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the directors have sold livestock through the auction mart. All such transactions have been on normal trading terms at arms length.