The Sheffield Saleroom Limited 06811541 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of auctioneers and valuers. Digita Accounts Production Advanced 6.30.9574.0 true true 06811541 2023-01-01 2023-12-31 06811541 2023-12-31 06811541 core:RetainedEarningsAccumulatedLosses 2023-12-31 06811541 core:ShareCapital 2023-12-31 06811541 core:CurrentFinancialInstruments 2023-12-31 06811541 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 06811541 core:FurnitureFittings 2023-12-31 06811541 core:MotorVehicles 2023-12-31 06811541 core:OfficeEquipment 2023-12-31 06811541 bus:SmallEntities 2023-01-01 2023-12-31 06811541 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 06811541 bus:FullAccounts 2023-01-01 2023-12-31 06811541 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06811541 bus:CompanySecretaryDirector1 2023-01-01 2023-12-31 06811541 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06811541 core:FurnitureFittings 2023-01-01 2023-12-31 06811541 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 06811541 core:MotorVehicles 2023-01-01 2023-12-31 06811541 core:OfficeEquipment 2023-01-01 2023-12-31 06811541 core:Vehicles 2023-01-01 2023-12-31 06811541 1 2023-01-01 2023-12-31 06811541 countries:AllCountries 2023-01-01 2023-12-31 06811541 2022-12-31 06811541 core:FurnitureFittings 2022-12-31 06811541 core:MotorVehicles 2022-12-31 06811541 core:OfficeEquipment 2022-12-31 06811541 2022-01-01 2022-12-31 06811541 2022-12-31 06811541 core:RetainedEarningsAccumulatedLosses 2022-12-31 06811541 core:ShareCapital 2022-12-31 06811541 core:CurrentFinancialInstruments 2022-12-31 06811541 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 06811541 core:FurnitureFittings 2022-12-31 06811541 core:MotorVehicles 2022-12-31 06811541 core:OfficeEquipment 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 06811541

The Sheffield Saleroom Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023

 

The Sheffield Saleroom Limited

(Registration number: 06811541)

Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

60,741

36,725

Current assets

 

Debtors

4

16,323

23,804

Cash at bank and in hand

 

438,751

465,550

 

455,074

489,354

Creditors: Amounts falling due within one year

5

(203,894)

(239,980)

Net current assets

 

251,180

249,374

Total assets less current liabilities

 

311,921

286,099

Provisions for liabilities

(10,039)

(1,405)

Net assets

 

301,882

284,694

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

301,880

284,692

Shareholders' funds

 

301,882

284,694

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

 

The Sheffield Saleroom Limited

(Registration number: 06811541)

Balance Sheet as at 31 December 2023 (continued)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 11 September 2024 and signed on its behalf by:
 

.........................................

E J Dashper-Johnson

Director

 

The Sheffield Saleroom Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

Accounting policies

Statutory information

The Sheffield Saleroom Limited is a private company, limited by shares, domiciled in England and Wales, company number 06811541. The registered office is at 4 Windsor Road, Sheffield, S8 8UB.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts..

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

 

The Sheffield Saleroom Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

1

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% straight line per annum

Fixtures and fittings

25% straight line per annum

Office equipment

25% straight line per annum

Leases

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.
 

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 23 (2022 - 20).

 

The Sheffield Saleroom Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

3

Tangible assets

Office equipment
£

Motor vehicles
 £

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 January 2023

19,443

71,028

58,604

149,075

Additions

1,312

34,550

9,532

45,394

Disposals

-

(13,530)

-

(13,530)

At 31 December 2023

20,755

92,048

68,136

180,939

Depreciation

At 1 January 2023

15,167

42,057

55,126

112,350

Charge for the year

1,908

16,977

2,493

21,378

Eliminated on disposal

-

(13,530)

-

(13,530)

At 31 December 2023

17,075

45,504

57,619

120,198

Carrying amount

At 31 December 2023

3,680

46,544

10,517

60,741

At 31 December 2022

4,276

28,971

3,478

36,725

4

Debtors

2023
£

2022
£

Trade debtors

4,030

5,290

Prepayments

12,291

8,512

Director's loan account

-

10,000

Other debtors

2

2

16,323

23,804

 

The Sheffield Saleroom Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

5

Creditors

2023
£

2022
£

Due within one year

Trade creditors

109,053

140,420

Taxation and social security

87,977

92,023

Other creditors

5,264

5,952

Accruals

1,600

1,585

203,894

239,980

6

Financial commitments, guarantees and contingencies

As at the balance sheet date, the company had total commitments under non- cancellable operating leases over the remaining term of those leases of £9,523 (2022: £9,523).

7

Related party transactions

During the year the directors had a loan account with the company. At the balance sheet date the amount due from the director was £nil (2022 : £10,000). The loan was interest free.

8

Parent and ultimate parent undertaking

The company's immediate parent is South Yorkshire Investments Limited, incorporated in England.

 The ultimate controlling party is Mrs E J Dashper-Johnson who owns South Yorkshire Investments Limited.