Mid Devon Auctions Ltd 13492498 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is retail sale of antiques including antique books in stores. Digita Accounts Production Advanced 6.30.9574.0 true true 13492498 2023-08-01 2024-07-31 13492498 2024-07-31 13492498 core:RetainedEarningsAccumulatedLosses 2024-07-31 13492498 core:CurrentFinancialInstruments 2024-07-31 13492498 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 13492498 bus:SmallEntities 2023-08-01 2024-07-31 13492498 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 13492498 bus:FilletedAccounts 2023-08-01 2024-07-31 13492498 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 13492498 bus:RegisteredOffice 2023-08-01 2024-07-31 13492498 bus:Director1 2023-08-01 2024-07-31 13492498 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 13492498 countries:EnglandWales 2023-08-01 2024-07-31 13492498 2022-08-01 2023-07-31 13492498 2023-07-31 13492498 core:RetainedEarningsAccumulatedLosses 2023-07-31 13492498 core:CurrentFinancialInstruments 2023-07-31 13492498 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 iso4217:GBP xbrli:pure

Registration number: 13492498

Mid Devon Auctions Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Mid Devon Auctions Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 4

 

Mid Devon Auctions Ltd

Company Information

Director

Mrs Ayesha Frances Platts

Registered office

8 High Street
Heathfield
East Sussex
TN21 8LS

Accountants

Manningtons
8 High Street
Heathfield
East Sussex
TN21 8LS

 

Mid Devon Auctions Ltd

(Registration number: 13492498)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

1,200

1,200

Creditors: Amounts falling due within one year

5

(1,016)

(1,066)

Net assets

 

184

134

Capital and reserves

 

Retained earnings

184

134

Shareholders' funds

 

184

134

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 September 2024
 

.........................................
Mrs Ayesha Frances Platts
Director

 

Mid Devon Auctions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
8 High Street
Heathfield
East Sussex
TN21 8LS
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is the Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Mid Devon Auctions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Debtors

2024
£

2023
£

Other debtors

1,200

1,200

1,200

1,200

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

918

974

Other creditors

-

(1)

Director loan account

98

93

1,016

1,066