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Registered Number: 05136578


 

 

 


Unaudited Financial Statements

for the year ended 30 June 2024

for

SEMLEY AUCTIONEERS LIMITED

Director Mr S Pearce
Registered Number 05136578
Registered Office Station Road
Semley
Shaftesbury
SP7 9AN
Accountants Numeric Accounting
Chartered Certified Accountants
The Portway Centre
1 Old Sarum Park
Salisbury
SP4 6EB
Secretary Mrs R Pearce
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 6,129    7,438 
6,129    7,438 
Current assets      
Stocks 5 109,289    97,115 
Debtors: amounts falling due within one year 6 61,707    87,595 
Cash at bank and in hand 454,576    454,254 
625,572    638,964 
Creditors: amount falling due within one year 7 (56,243)   (69,684)
Net current assets 569,329    569,280 
 
Total assets less current liabilities 575,458    576,718 
Provisions for liabilities 8 (2,040)   (1,660)
Net assets 573,418    575,058 
 

Capital and reserves
     
Called up share capital 9 1,000    1,000 
Profit and loss account 572,418    574,058 
Shareholders' funds 573,418    575,058 
 


For the year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 07 September 2024 and were signed by:


-------------------------------
Mr S Pearce
Director
2
General Information
Semley Auctioneers Limited is a private company, limited by shares, registered in , registration number 05136578, registration address Station Road, Semley, Shaftesbury, SP7 9AN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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 taxation
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.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 20% Reducing Balance
Fixtures and Fittings 20% Reducing Balance
Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 5 (2023 : 5).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 July 2023 300,000    300,000 
Additions  
Disposals  
At 30 June 2024 300,000    300,000 
Amortisation
At 01 July 2023 300,000    300,000 
Charge for year  
On disposals  
At 30 June 2024 300,000    300,000 
Net book values
At 30 June 2024  
At 30 June 2023  


4.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Total
  £   £   £
At 01 July 2023 7,209    38,675    45,884 
Additions   224    224 
Disposals    
At 30 June 2024 7,209    38,899    46,108 
Depreciation
At 01 July 2023 6,892    31,554    38,446 
Charge for year 64    1,469    1,533 
On disposals    
At 30 June 2024 6,956    33,023    39,979 
Net book values
Closing balance as at 30 June 2024 253    5,876    6,129 
Opening balance as at 01 July 2023 317    7,121    7,438 


5.

Stocks

2024
£
  2023
£
Stocks 109,289    97,115 
109,289    97,115 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 61,238    78,089 
Provision for Doubtful Debts (6,677)  
Prepayments & Accrued Income 7,116    9,506 
PAYE & Social Security 30   
61,707    87,595 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 2,892    4,788 
VAT Account 16,219    14,553 
Corporation Tax 11,274    40,809 
PAYE & Social Security   695 
Accrued Expenses 16,049    6,518 
Other Creditors 709    691 
Directors' Current Account 9,100    1,630 
56,243    69,684 

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 2,040    1,660 
2,040    1,660 

9.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
1,000 Class A shares of £1.00 each 1,000    1,000 
1,000    1,000 

10.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2024
£
 2023
£
 2024
£
 2023
£
Mr S Pearce(9,100)(1,630)

During the year dividends totalling £27,150 were paid to Mr S Pearce (£27,420 in 2023). A total of £18,100 was paid to his spouse, Mrs R Pearce (£18,280 in 2023)
3