Company registration number 06734044 (England and Wales)
BFL Auctions Limited
Unaudited financial statements
For the year ended 31 December 2023
BFL Auctions Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 3
BFL Auctions Limited
Balance sheet
As at 31 December 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
314,611
237,834
Cash at bank and in hand
185,826
211,352
500,437
449,186
Creditors: amounts falling due within one year
4
(91,433)
(52,701)
Net current assets
409,004
396,485
Creditors: amounts falling due after more than one year
5
(12,750)
(26,307)
Net assets
396,254
370,178
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
396,154
370,078
Total equity
396,254
370,178
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 18 September 2024 and are signed on its behalf by:
Mr P M Lea
Director
Company registration number 06734044 (England and Wales)
BFL Auctions Limited
Notes to the financial statements
For the year ended 31 December 2023
- 2 -
1
Accounting policies
Company information
BFL Auctions Limited is a private company limited by shares incorporated in England and Wales. The registered office is 18 The Crescent, Wirral, CH48 4HN, West Kirby.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for services net of VAT and trade discounts.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
2
Employees
The company has no employees other than its directors.
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
71,371
3,128
Amounts owed by group undertakings
208,621
208,320
Other debtors
34,619
26,386
314,611
237,834
BFL Auctions Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
- 3 -
4
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
9,000
4,500
Trade creditors
63,852
21,515
Taxation and social security
1,213
Other creditors
18,581
25,473
91,433
52,701
5
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
12,750
26,307
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
7
Related party transactions
Transactions with related parties
During the year the company entered into the following transactions with related parties:
The following amounts were outstanding at the reporting end date:
2023
2022
Amounts due from related parties
£
£
Entities under the control of key management personnel
3,936
-
8
Parent company
The parent company is Bradshaw Farnham Lea Limited. The registered office is 18 the Crescent, West Kirby, Wirral, CH48 4HN.