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REGISTERED NUMBER: 00669043 (England and Wales)















General Auctions Limited

Unaudited Financial Statements

for the Year Ended 31 August 2024






General Auctions Limited (Registered number: 00669043)

Contents of the Financial Statements
for the year ended 31 August 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


General Auctions Limited

Company Information
for the year ended 31 August 2024







Directors: K J Lammas
R J Lammas





Secretary: A J Rowlands





Registered office: Mill Stream Farm
Brighton Road
Salfords
Redhill
Surrey
RH1 5BT





Registered number: 00669043 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

General Auctions Limited (Registered number: 00669043)

Balance Sheet
31 August 2024

2024 2023
Notes £ £ £
Fixed assets
Tangible assets 3 2,153,872 2,149,108

Current assets
Stocks 4 28,750 28,478
Debtors 5 218,800 211,429
Cash at bank and in hand 49,584 4,000
297,134 243,907
Creditors
Amounts falling due within one year 6 104,186 94,846
Net current assets 192,948 149,061
Total assets less current liabilities 2,346,820 2,298,169

Capital and reserves
Called up share capital 7 3,000 3,000
Retained earnings 8 2,343,820 2,295,169
Shareholders' funds 2,346,820 2,298,169

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 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 29 May 2025 and were signed on its behalf by:





K J Lammas - Director


General Auctions Limited (Registered number: 00669043)

Notes to the Financial Statements
for the year ended 31 August 2024


1. 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 amounts receivable for goods and services provided in the year and is stated net of VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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

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.

2. Employees and directors

The average number of employees during the year was 9 (2023 - 11 ) .

3. Tangible fixed assets
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£ £ £ £ £
Cost
At 1 September 2023 2,146,608 - 28,397 11,439 2,186,444
Additions - 6,785 - 400 7,185
At 31 August 2024 2,146,608 6,785 28,397 11,839 2,193,629
Depreciation
At 1 September 2023 - - 28,141 9,195 37,336
Charge for year - 1,696 64 661 2,421
At 31 August 2024 - 1,696 28,205 9,856 39,757
Net book value
At 31 August 2024 2,146,608 5,089 192 1,983 2,153,872
At 31 August 2023 2,146,608 - 256 2,244 2,149,108

4. Stocks
2024 2023
£ £
Stocks 28,750 28,478

General Auctions Limited (Registered number: 00669043)

Notes to the Financial Statements - continued
for the year ended 31 August 2024


5. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 88,128 73,285
Other debtors 130,672 138,144
218,800 211,429

6. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts - 702
Trade creditors 81,031 72,142
Taxation and social security 18,155 17,002
Other creditors 5,000 5,000
104,186 94,846

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
3,000 Ordinary £1 3,000 3,000

8. Reserves
Retained
earnings
£

At 1 September 2023 2,295,169
Profit for the year 48,651
At 31 August 2024 2,343,820

9. Related party disclosures

During the year the company received a management charge of £Nil (2023: £30,000) and storage income of £19,488 (2023: £31,961) from related companies.

At the balance sheet date the company was owed £31,244 (2023: £27,244) from related companies under common ownership.