REGISTERED NUMBER: |
Hannams Auctioneers Ltd |
Unaudited Financial Statements for the Year Ended 31st March 2024 |
REGISTERED NUMBER: |
Hannams Auctioneers Ltd |
Unaudited Financial Statements for the Year Ended 31st March 2024 |
Hannams Auctioneers Ltd (Registered number: 11018541) |
Contents of the Financial Statements |
for the Year Ended 31st March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Hannams Auctioneers Ltd |
Company Information |
for the Year Ended 31st March 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
2 Oriel Court |
Omega Park |
Alton |
Hampshire |
GU34 2YT |
Hannams Auctioneers Ltd (Registered number: 11018541) |
Balance Sheet |
31st March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 9 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Hannams Auctioneers Ltd (Registered number: 11018541) |
Balance Sheet - continued |
31st March 2024 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account and Statement of Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Hannams Auctioneers Ltd (Registered number: 11018541) |
Notes to the Financial Statements |
for the Year Ended 31st March 2024 |
1. | STATUTORY INFORMATION |
Hannams Auctioneers Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Commission receivable in respect of auction sales is recognised when the sale takes place. |
Goodwill |
Tangible fixed assets |
Office equipment | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
Hannams Auctioneers Ltd (Registered number: 11018541) |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1st April 2023 |
and 31st March 2024 |
AMORTISATION |
At 1st April 2023 |
Amortisation for year |
At 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
Hannams Auctioneers Ltd (Registered number: 11018541) |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2024 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Office | and | Motor | Computer |
equipment | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1st April 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31st March 2024 |
DEPRECIATION |
At 1st April 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
6. | DEBTORS |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Loan to Director | 55,000 | - |
Prepayments |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
Hannams Auctioneers Ltd (Registered number: 11018541) |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 42,080 | 31,294 |
Other creditors |
Pension | 724 | 741 |
Directors' current accounts | 13,308 | 11,605 |
Accruals and deferred income |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
9. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 5,896 | 3,253 |
Deferred |
tax |
£ |
Balance at 1st April 2023 |
Provided during year |
Balance at 31st March 2024 |
Hannams Auctioneers Ltd (Registered number: 11018541) |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2024 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary 'A' | £1 | 10 | 10 |
Ordinary 'B' | £1 | 10 | 10 |
Ordinary 'C' | £1 | 10 | 10 |
30 | 30 |
The Ordinary 'B' shares and Ordinary 'C' shares carry no voting rights and have no right to participate in a surplus on a winding up. |
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31st March 2024 and 31st March 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
The loan to the director bears interest at the rate of 2.25% per annum and is repayable on demand. |