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REGISTERED NUMBER: 01828372 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ONSLOW AUCTIONS LIMITED

ONSLOW AUCTIONS LIMITED (REGISTERED NUMBER: 01828372)

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

Chartered Accountants' Report 8

ONSLOW AUCTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: P P Y Bogue



SECRETARY: Mrs A M C Bogue



REGISTERED OFFICE: Avebury House
6 St Peter Street
Winchester
Hampshire
SO23 8BN



REGISTERED NUMBER: 01828372 (England and Wales)



ACCOUNTANTS: Rothmans LLP
Avebury House
St Peter Street
Winchester
Hampshire
SO23 8BN



BANKERS: Lloyds TSB Bank PLC
26 Hammersmith Broadway
London
W6 7AH

ONSLOW AUCTIONS LIMITED (REGISTERED NUMBER: 01828372)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,821 -
Tangible assets 5 314 422
3,135 422

CURRENT ASSETS
Stocks 25,275 24,588
Debtors 6 1,509 14,381
Cash at bank 221,986 199,142
248,770 238,111
CREDITORS
Amounts falling due within one year 7 53,633 37,927
NET CURRENT ASSETS 195,137 200,184
TOTAL ASSETS LESS CURRENT
LIABILITIES

198,272

200,606

PROVISIONS FOR LIABILITIES 60 80
NET ASSETS 198,212 200,526

CAPITAL AND RESERVES
Called up share capital 2,310 2,310
Capital redemption reserve 2,290 2,290
Retained earnings 193,612 195,926
198,212 200,526

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 director acknowledges his 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.

ONSLOW AUCTIONS LIMITED (REGISTERED NUMBER: 01828372)

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 director and authorised for issue on 25 September 2024 and were signed by:





P P Y Bogue - Director


ONSLOW AUCTIONS LIMITED (REGISTERED NUMBER: 01828372)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Onslow Auctions 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 the amount derived from ordinary activities and is stated after trade discounts, other sales
taxes and net of value added tax.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated
useful life.

Books and Furniture - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33.33% on cost

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated
depreciation and impairment losses.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Short term debtors and creditors are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

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.


ONSLOW AUCTIONS LIMITED (REGISTERED NUMBER: 01828372)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 3,345
At 31 December 2023 3,345
AMORTISATION
Charge for year 524
At 31 December 2023 524
NET BOOK VALUE
At 31 December 2023 2,821

ONSLOW AUCTIONS LIMITED (REGISTERED NUMBER: 01828372)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 7,953
Disposals (175 )
At 31 December 2023 7,778
DEPRECIATION
At 1 January 2023 7,531
Charge for year 95
Eliminated on disposal (162 )
At 31 December 2023 7,464
NET BOOK VALUE
At 31 December 2023 314
At 31 December 2022 422

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 947 13,503
Other debtors 562 878
1,509 14,381

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 47,043 23,882
Taxation and social security 529 5,932
Other creditors 6,061 8,113
53,633 37,927

ONSLOW AUCTIONS LIMITED (REGISTERED NUMBER: 01828372)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
P P Y Bogue
Balance outstanding at start of year 819 997
Amounts advanced 1,403 (1,711 )
Amounts repaid (1,660 ) 1,533
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 562 819

The loan has been provided interest free and is repayable on demand.

9. RELATED PARTY DISCLOSURES

Residential & Commercial Properties Limited
A Company that P P Y Bogue is a director of

During the year Onslow Auctions Limited invoiced £1,200 to the above company for use of their office facilities.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
ONSLOW AUCTIONS LIMITED


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Onslow Auctions Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Onslow Auctions Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Onslow Auctions Limited and state those matters that we have agreed to state to the director of Onslow Auctions Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Onslow Auctions Limited and its director for our work or for this report.

It is your duty to ensure that Onslow Auctions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Onslow Auctions Limited. You consider that Onslow Auctions Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Onslow Auctions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Rothmans LLP
Avebury House
St Peter Street
Winchester
Hampshire
SO23 8BN


25 September 2024