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REGISTERED NUMBER: 12729984 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Builth Market Auctioneers Limited

Builth Market Auctioneers Limited (Registered number: 12729984)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Builth Market Auctioneers Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: M J Nicholls
R A Hyde





REGISTERED OFFICE: Hereford Livestock Market
Roman Road
Hereford
HR4 7AN





REGISTERED NUMBER: 12729984 (England and Wales)





ACCOUNTANTS: R J Francis & Co
Suites 1 & 2
Marshall Business Centre
Faraday Road
Hereford
Herefordshire
HR4 9NS

Builth Market Auctioneers Limited (Registered number: 12729984)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 62,654 67,064

CURRENT ASSETS
Debtors 5 1,618,347 1,617,240
Cash in hand 259 -
1,618,606 1,617,240
CREDITORS
Amounts falling due within one year 6 1,267,277 1,411,228
NET CURRENT ASSETS 351,329 206,012
TOTAL ASSETS LESS CURRENT LIABILITIES 413,983 273,076

PROVISIONS FOR LIABILITIES 15,663 16,766
NET ASSETS 398,320 256,310

CAPITAL AND RESERVES
Called up share capital 1,000 1
Retained earnings 397,320 256,309
398,320 256,310

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

Builth Market Auctioneers Limited (Registered number: 12729984)

Balance Sheet - continued
31 December 2023


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 27 June 2024 and were signed on its behalf by:




R A Hyde - Director



M J Nicholls - Director


Builth Market Auctioneers Limited (Registered number: 12729984)

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

1. STATUTORY INFORMATION

Builth Market Auctioneers 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Market equipment - 15% on reducing balance
Office equipment - 25% on reducing balance

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's Statement of Financial Position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Builth Market Auctioneers Limited (Registered number: 12729984)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other
Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's Statement of Financial Position when the company
becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when
there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a
net basis or to realise the asset and settle the liability simultaneously.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Market Office
equipment equipment Totals
£    £    £   
COST
At 1 January 2023 87,554 6,537 94,091
Additions 10,862 - 10,862
At 31 December 2023 98,416 6,537 104,953
DEPRECIATION
At 1 January 2023 24,169 2,858 27,027
Charge for year 13,824 1,448 15,272
At 31 December 2023 37,993 4,306 42,299
NET BOOK VALUE
At 31 December 2023 60,423 2,231 62,654
At 31 December 2022 63,385 3,679 67,064

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,348,784 1,267,321
Other debtors 269,563 349,919
1,618,347 1,617,240

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 711,547 955,272
Trade creditors 433,430 390,799
Taxation and social security 62,583 57,313
Other creditors 59,717 7,844
1,267,277 1,411,228

Builth Market Auctioneers Limited (Registered number: 12729984)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. RELATED PARTY DISCLOSURES

The company was under the ownership of Sunderlands 1862 LLP for part of the year. During this period the company paid management charges to sunderlands 1862 LLP totalling £48,920.

The company is also a related party of Hereford Market Auctioneers Limited, being under common control by the same directors. During the year the company paid staff hire charges totalling £53,497 to Hereford Market Auctioneers Limited.