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REGISTERED NUMBER: 08100255 (England and Wales)








Unaudited Financial Statements

For The Year Ended 31 August 2024

for

Plymouth Auction Rooms Limited

Plymouth Auction Rooms Limited (Registered number: 08100255)






Contents of the Financial Statements
For The Year Ended 31 August 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Plymouth Auction Rooms Limited (Registered number: 08100255)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 24,000 27,000
Tangible assets 5 8,571 9,951
32,571 36,951

CURRENT ASSETS
Debtors 6 52,066 68,601
Cash at bank and in hand 23,239 33,770
75,305 102,371
CREDITORS
Amounts falling due within one year 7 67,997 70,484
NET CURRENT ASSETS 7,308 31,887
TOTAL ASSETS LESS CURRENT
LIABILITIES

39,879

68,838

CREDITORS
Amounts falling due after more than one
year

8

(5,622

)

(12,201

)

PROVISIONS FOR LIABILITIES (1,404 ) (1,707 )
NET ASSETS 32,853 54,930

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 32,753 54,830
SHAREHOLDERS' FUNDS 32,853 54,930

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

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

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 21 February 2025 and were signed by:



P J Keen - Director


Plymouth Auction Rooms Limited (Registered number: 08100255)

Notes to the Financial Statements
For The Year Ended 31 August 2024

1. STATUTORY INFORMATION

Plymouth Auction Rooms Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08100255

Registered office: Plymouth Auction Rooms
359 Faraday Mill Trade Park
Cattedown
Plymouth
Devon
PL4 0SE

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 represents the charge of commission and related services, net of VAT. Turnover is recognised after the completion of an auction and offers have been accepted on goods being held for resale. An adjustment will be made if there is a significant risk of default.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty years.

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 cost and 15% on reducing balance

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 6 (2023 - 5 ) .

Plymouth Auction Rooms Limited (Registered number: 08100255)

Notes to the Financial Statements - continued
For The Year Ended 31 August 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 60,000
AMORTISATION
At 1 September 2023 33,000
Charge for year 3,000
At 31 August 2024 36,000
NET BOOK VALUE
At 31 August 2024 24,000
At 31 August 2023 27,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 33,335
Additions 315
At 31 August 2024 33,650
DEPRECIATION
At 1 September 2023 23,384
Charge for year 1,695
At 31 August 2024 25,079
NET BOOK VALUE
At 31 August 2024 8,571
At 31 August 2023 9,951

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 45,798 66,755
Other debtors 6,268 1,846
52,066 68,601

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 12,625 6,549
Trade creditors 28,450 25,168
Taxation and social security 6,709 23,055
Other creditors 20,213 15,712
67,997 70,484

Plymouth Auction Rooms Limited (Registered number: 08100255)

Notes to the Financial Statements - continued
For The Year Ended 31 August 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans 5,622 12,201