Caseware UK (AP4) 2023.0.135 2023.0.135 false2023-04-01falseNo description of principal activity32falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12341617 2023-04-01 2024-03-31 12341617 2022-04-01 2023-03-31 12341617 2024-03-31 12341617 2023-03-31 12341617 c:Director2 2023-04-01 2024-03-31 12341617 d:MotorVehicles 2023-04-01 2024-03-31 12341617 d:MotorVehicles 2024-03-31 12341617 d:MotorVehicles 2023-03-31 12341617 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12341617 d:OfficeEquipment 2023-04-01 2024-03-31 12341617 d:OfficeEquipment 2024-03-31 12341617 d:OfficeEquipment 2023-03-31 12341617 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12341617 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12341617 d:CurrentFinancialInstruments 2024-03-31 12341617 d:CurrentFinancialInstruments 2023-03-31 12341617 d:Non-currentFinancialInstruments 2024-03-31 12341617 d:Non-currentFinancialInstruments 2023-03-31 12341617 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 12341617 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12341617 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 12341617 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 12341617 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 12341617 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 12341617 d:ShareCapital 2024-03-31 12341617 d:ShareCapital 2023-03-31 12341617 d:RetainedEarningsAccumulatedLosses 2024-03-31 12341617 d:RetainedEarningsAccumulatedLosses 2023-03-31 12341617 c:FRS102 2023-04-01 2024-03-31 12341617 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 12341617 c:FullAccounts 2023-04-01 2024-03-31 12341617 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12341617 2 2023-04-01 2024-03-31 12341617 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 12341617









BRITANNIA AUCTIONS LIMITED







Unaudited

Financial statements

Information for filing with the registrar

for the year ended 31 March 2024

 
BRITANNIA AUCTIONS LIMITED
Registered number: 12341617

Balance sheet
as at 31 March 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
9,270
740

  
9,270
740

Current assets
  

Stocks
  
-
8,875

Debtors: amounts falling due within one year
 5 
126,621
219,960

Cash at bank and in hand
 6 
12,374
6,438

  
138,995
235,273

Creditors: amounts falling due within one year
 7 
(264,807)
(164,921)

Net current (liabilities)/assets
  
 
 
(125,812)
 
 
70,352

Total assets less current liabilities
  
(116,542)
71,092

Creditors: amounts falling due after more than one year
 8 
(27,685)
(27,888)

  

Net (liabilities)/assets
  
(144,227)
43,204


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(144,228)
43,203

  
(144,227)
43,204


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 

Page 1

 
BRITANNIA AUCTIONS LIMITED
Registered number: 12341617
    
Balance sheet (continued)
as at 31 March 2024







Jonathan Stephen Dean
Director

Date: 6 March 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
BRITANNIA AUCTIONS LIMITED
 
 
 
Notes to the financial statements
for the year ended 31 March 2024

1.


General information

Britannia Auctions Limited (company number 12341617) is a private company limited by shares, registered in England and Wales. Its registered office is at Bushbury Houe, 435 Wilmslow Road, Withington, Manchester, M20 4AF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
BRITANNIA AUCTIONS LIMITED
 
 
 
Notes to the financial statements
for the year ended 31 March 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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


 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
BRITANNIA AUCTIONS LIMITED
 
 
 
Notes to the financial statements
for the year ended 31 March 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
Office equipment
-
25%
Straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
BRITANNIA AUCTIONS LIMITED
 
 
 
Notes to the financial statements
for the year ended 31 March 2024

3.


Employees

2024
2023
£
£

Wages and salaries
87,175
51,380

Social security costs
4,415
-

Cost of defined contribution scheme
940
998

92,530
52,378


The average monthly number of employees, including directors, during the year was 3 (2023 - 2).


4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
-
2,963
2,963


Additions
7,500
4,862
12,362



At 31 March 2024

7,500
7,825
15,325



Depreciation


At 1 April 2023
-
2,223
2,223


Charge for the year on owned assets
1,875
1,957
3,832



At 31 March 2024

1,875
4,180
6,055



Net book value



At 31 March 2024
5,625
3,645
9,270



At 31 March 2023
-
740
740


5.


Debtors

2024
2023
£
£


Trade debtors
5,577
61,657

Other debtors
119,197
157,873

Prepayments and accrued income
1,847
430
Page 6

 
BRITANNIA AUCTIONS LIMITED
 
 
 
Notes to the financial statements
for the year ended 31 March 2024

5.Debtors (continued)


126,621
219,960



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
12,374
6,438

12,374
6,438



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
5,886
9,814

Trade creditors
100,455
24,800

Corporation tax
20,491
34,178

Other taxation and social security
46,368
35,760

Other creditors
26,250
25,157

Accruals and deferred income
65,357
35,212

264,807
164,921



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
27,685
27,888

27,685
27,888


Page 7

 
BRITANNIA AUCTIONS LIMITED
 
 
 
Notes to the financial statements
for the year ended 31 March 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
5,886
9,814


5,886
9,814


Amounts falling due 2-5 years

Bank loans
27,685
27,888


27,685
27,888


33,571
37,702


Included in bank loans is an unsecured bounce back loan. The loan is subject to interest at 2.5% and is fully backed by the UK government under the BBLS rules.


10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £940 (2023 - £998) . Contributions totalling £Nil (2023 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.

Page 8

 
BRITANNIA AUCTIONS LIMITED
 
 
 
Notes to the financial statements
for the year ended 31 March 2024

11.


Related party transactions

At 31 March 2024 the company was owed £10,920 (2023: (£520)) by the director. No interest has been charged to the company in respect of this loan which is repayable on demand and classified in debtors due within one year.
Included within other debtors is a loan in the amount of £95,763 (2023: £157,873) to Tameside Property Developments Ltd, a company registered in England and Wales. The directors Sarah Natalie Bojanowski and Jonathan Stephen Dean are directors and 50% shareholders. Interest has been charged in the amount of £4,097 (2023: £2,873). An amount of £40,000 was written off as being non recoverable.
Included within within sales is an amount of £15,769 (2023: £76,411) charged to West Point Machine Tools Ltd. The amount outstanding at the year end was £Nil (2023: £60,000). The company went into liquidation on 5 February 2024.
Included within purchases is an amount of £268,780 (2023: £277,851) charged from West Point Machine Tools Ltd, a company incorporated in England and Wales, in which the director Jonathan Stephen Dean is director and 100% shareholder. The amount outstanding at the year end was £Nil (2023: £22,343).
Included within purchases is an amount of £Nil (2023: £182) charged from Rhino Industrial Supplies Limited, a company incorporated in England and Wales, in which the director Jonathan Stephen Dean is director and 100% shareholder. The amount outstanding at the year end was £Nil (2023: £Nil).
Included within admin expenses is an amount of £3,900 (2023: £900) charged from Aspire Corporation Limited, a company incorporated in England and Wales, in which the director Jonathan Stephen Dean is director and 50% shareholder. The amount outstanding at the year end was £1,600 (2023: £180). 

 
Page 9