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REGISTERED NUMBER: 03671743 (England and Wales)















Financial Statements for the Year Ended 30 November 2023

for

Lawrences Auctioneers Limited

Lawrences Auctioneers Limited (Registered number: 03671743)






Contents of the Financial Statements
for the year ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Lawrences Auctioneers Limited

Company Information
for the year ended 30 November 2023







DIRECTORS: R J Lawrence
D G Bradbury
S J Ward





SECRETARY: S J Ward





REGISTERED OFFICE: Norfolk House
High Street
Bletchingley
Redhill
Surrey
RH1 4PA





REGISTERED NUMBER: 03671743 (England and Wales)





ACCOUNTANTS: LJP Accounting Ltd
Barn Studios
Gaterounds
Parkgate Road
Newdigate
Surrey
RH5 5AJ

Lawrences Auctioneers Limited (Registered number: 03671743)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 5,034 5,558
5,034 5,558

CURRENT ASSETS
Stocks 37,178 72,995
Debtors 6 320,378 94,745
Cash at bank and in hand 348,126 400,928
705,682 568,668
CREDITORS
Amounts falling due within one year 7 237,560 149,574
NET CURRENT ASSETS 468,122 419,094
TOTAL ASSETS LESS CURRENT
LIABILITIES

473,156

424,652

CAPITAL AND RESERVES
Called up share capital 900 900
Share premium 327,504 327,504
Capital redemption reserve 100 100
Retained earnings 144,652 96,148
SHAREHOLDERS' FUNDS 473,156 424,652

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

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 14 January 2025 and were signed on its behalf by:




R J Lawrence - Director



S J Ward - Director


Lawrences Auctioneers Limited (Registered number: 03671743)

Notes to the Financial Statements
for the year ended 30 November 2023

1. STATUTORY INFORMATION

Lawrences 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1998, is being amortised evenly over its estimated useful life of twenty years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance, 25% on cost and 10% on cost

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

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.

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 9 (2022 - 9 ) .

Lawrences Auctioneers Limited (Registered number: 03671743)

Notes to the Financial Statements - continued
for the year ended 30 November 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 306,000
AMORTISATION
At 1 December 2022
and 30 November 2023 306,000
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022 77,243
Additions 1,518
Disposals (1,776 )
At 30 November 2023 76,985
DEPRECIATION
At 1 December 2022 71,685
Charge for year 2,042
Eliminated on disposal (1,776 )
At 30 November 2023 71,951
NET BOOK VALUE
At 30 November 2023 5,034
At 30 November 2022 5,558

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 255,117 45,975
Other debtors 64,937 39,794
320,054 85,769

Amounts falling due after more than one year:
Other debtors 324 8,976

Aggregate amounts 320,378 94,745

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 42,787 104,208
Other creditors 194,773 45,366
237,560 149,574