IRIS Accounts Production v24.3.2.46 10762287 director 1.6.23 31.5.24 31.5.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh107622872023-05-31107622872024-05-31107622872023-06-012024-05-31107622872022-05-31107622872022-06-012023-05-31107622872023-05-3110762287ns15:EnglandWales2023-06-012024-05-3110762287ns14:PoundSterling2023-06-012024-05-3110762287ns10:Director12023-06-012024-05-3110762287ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3110762287ns10:SmallEntities2023-06-012024-05-3110762287ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3110762287ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3110762287ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3110762287ns10:AbridgedAccounts2023-06-012024-05-3110762287ns10:OrdinaryShareClass12023-06-012024-05-3110762287ns10:RegisteredOffice2023-06-012024-05-3110762287ns5:CurrentFinancialInstruments2024-05-3110762287ns5:CurrentFinancialInstruments2023-05-3110762287ns5:Non-currentFinancialInstruments2024-05-3110762287ns5:Non-currentFinancialInstruments2023-05-3110762287ns5:ShareCapital2024-05-3110762287ns5:ShareCapital2023-05-3110762287ns5:RetainedEarningsAccumulatedLosses2024-05-3110762287ns5:RetainedEarningsAccumulatedLosses2023-05-3110762287ns5:PlantMachinery2023-06-012024-05-3110762287ns10:OrdinaryShareClass12024-05-31
REGISTERED NUMBER: 10762287 (England and Wales)















Financial Statements for the Year Ended 31 May 2024

for

Auction North Limited

Auction North Limited (Registered number: 10762287)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Auction North Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: R M Hall





REGISTERED OFFICE: Lumley House
Whitfield Court, St John's Road
Durham
Co. Durham
DH7 8XL





REGISTERED NUMBER: 10762287 (England and Wales)





ACCOUNTANTS: Chrichard & Co
23 Woodland Road
Darlington
Co. Durham
DL3 7BJ

Auction North Limited (Registered number: 10762287)

Abridged Statement of Financial Position
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 174 241

CURRENT ASSETS
Debtors 49,214 49,011
Cash at bank 63 1
49,277 49,012
CREDITORS
Amounts falling due within one year 47,663 62,874
NET CURRENT ASSETS/(LIABILITIES) 1,614 (13,862 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,788

(13,621

)

CREDITORS
Amounts falling due after more than one
year

17,605

19,800
NET LIABILITIES (15,817 ) (33,421 )

CAPITAL AND RESERVES
Called up share capital 5 10 10
Retained earnings (15,827 ) (33,431 )
SHAREHOLDERS' FUNDS (15,817 ) (33,421 )

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

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

Auction North Limited (Registered number: 10762287)

Abridged Statement of Financial Position - continued
31 May 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 May 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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:





R M Hall - Director


Auction North Limited (Registered number: 10762287)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Auction North 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.

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

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 1 (2023 - 2 ) .

Auction North Limited (Registered number: 10762287)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2023
and 31 May 2024 2,640
DEPRECIATION
At 1 June 2023 2,399
Charge for year 67
At 31 May 2024 2,466
NET BOOK VALUE
At 31 May 2024 174
At 31 May 2023 241

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10 Ordinary £1.00 10 10

6. RELATED PARTY DISCLOSURES

During the year, the company maintained an interest free loan to a company under common control. At 31 May 2024 the balance on the loan was £49,213 (2023: £46,885). This amount is repayable on demand.