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REGISTERED NUMBER: 11018541 (England and Wales)















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: P F Hannam
H F Hannam





REGISTERED OFFICE: 2 Oriel Court
Omega Park
Alton
Hampshire
GU34 2YT





REGISTERED NUMBER: 11018541 (England and Wales)





ACCOUNTANTS: Sheen Stickland
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 9,600 12,000
Tangible assets 5 23,584 13,013
33,184 25,013

CURRENT ASSETS
Debtors 6 106,194 423,509
Cash at bank 378,057 185,090
484,251 608,599
CREDITORS
Amounts falling due within one year 7 125,936 80,063
NET CURRENT ASSETS 358,315 528,536
TOTAL ASSETS LESS CURRENT
LIABILITIES

391,499

553,549

PROVISIONS FOR LIABILITIES 9 5,896 3,253
NET ASSETS 385,603 550,296

CAPITAL AND RESERVES
Called up share capital 10 30 30
Retained earnings 385,573 550,266
SHAREHOLDERS' FUNDS 385,603 550,296

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.

Hannams Auctioneers Ltd (Registered number: 11018541)

Balance Sheet - continued
31st March 2024


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 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 3rd October 2024 and were signed on its behalf by:




P F Hannam - Director



H F Hannam - Director


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 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.

Commission receivable in respect of auction sales is recognised when the sale takes place.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

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 18 (2023 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 24,000
AMORTISATION
At 1st April 2023 12,000
Amortisation for year 2,400
At 31st March 2024 14,400
NET BOOK VALUE
At 31st March 2024 9,600
At 31st March 2023 12,000

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 6,693 29,780 9,395 7,147 53,015
Additions 1,862 18,709 - 627 21,198
Disposals - - (9,395 ) - (9,395 )
At 31st March 2024 8,555 48,489 - 7,774 64,818
DEPRECIATION
At 1st April 2023 4,305 19,908 9,395 6,394 40,002
Charge for year 1,228 8,534 - 865 10,627
Eliminated on disposal - - (9,395 ) - (9,395 )
At 31st March 2024 5,533 28,442 - 7,259 41,234
NET BOOK VALUE
At 31st March 2024 3,022 20,047 - 515 23,584
At 31st March 2023 2,388 9,872 - 753 13,013

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 600 -
Other debtors 22,058 385,126
Loan to Director 55,000 -
Prepayments 12,175 12,036
89,833 397,162

Amounts falling due after more than one year:
Other debtors 16,361 26,347

Aggregate amounts 106,194 423,509

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 18,609 15,920
Tax 45 5,576
Social security and other taxes 4,944 5,027
VAT 42,080 31,294
Other creditors 38,726 -
Pension 724 741
Directors' current accounts 13,308 11,605
Accruals and deferred income 7,500 9,900
125,936 80,063

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 52,438 54,026
Between one and five years 59,091 111,529
111,529 165,555

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 5,896 3,253

Deferred
tax
£   
Balance at 1st April 2023 3,253
Provided during year 2,643
Balance at 31st March 2024 5,896

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: £    £   
10 Ordinary 'A' £1 10 10
10 Ordinary 'B' £1 10 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
£    £   
P F Hannam
Balance outstanding at start of year - -
Amounts advanced 55,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 55,000 -

The loan to the director bears interest at the rate of 2.25% per annum and is repayable on demand.