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REGISTERED NUMBER: 08359009 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 January 2025

for

City Auctions Limited

City Auctions Limited (Registered number: 08359009)






Contents of the Financial Statements
for the year ended 31 January 2025




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


City Auctions Limited

Company Information
for the year ended 31 January 2025







DIRECTORS: G Vranas
P Douralis





REGISTERED OFFICE: 33 Eden Vale
Sunderland
Tyne and Wear
SR2 7NJ





REGISTERED NUMBER: 08359009 (England and Wales)





ACCOUNTANTS: TTR Barnes Limited
Chartered Accountants
3-5 Grange Terrace
Stockton Road
Sunderland
Tyne & Wear
SR2 7DG

City Auctions Limited (Registered number: 08359009)

Statement of Financial Position
31 January 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 181 265

CURRENT ASSETS
Stocks 5 9,000 11,000
Debtors 6 40 26
Cash at bank 3,969 7,070
13,009 18,096
CREDITORS
Amounts falling due within one year 7 17,965 20,238
NET CURRENT LIABILITIES (4,956 ) (2,142 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(4,775

)

(1,877

)

CREDITORS
Amounts falling due after more than one
year

8

4,267

6,767
NET LIABILITIES (9,042 ) (8,644 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (9,044 ) (8,646 )
SHAREHOLDERS' FUNDS (9,042 ) (8,644 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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.

City Auctions Limited (Registered number: 08359009)

Statement of Financial Position - continued
31 January 2025


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 August 2025 and were signed on its behalf by:





P Douralis - Director


City Auctions Limited (Registered number: 08359009)

Notes to the Financial Statements
for the year ended 31 January 2025

1. STATUTORY INFORMATION

City Auctions 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.

The financial statements have been prepared on the going concern basis, which assumes that the company will continue in operational existence for the foreseeable future, which the directors consider to be appropriate.

Turnover
Turnover represents invoiced sales of goods and commissions received.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stock is valued at the lower of cost and net realisable value. Net realisable value represents estimated selling price less costs to complete to sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is les than cost.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their settlement value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

City Auctions Limited (Registered number: 08359009)

Notes to the Financial Statements - continued
for the year ended 31 January 2025

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2024
and 31 January 2025 3,152
DEPRECIATION
At 1 February 2024 2,887
Charge for year 84
At 31 January 2025 2,971
NET BOOK VALUE
At 31 January 2025 181
At 31 January 2024 265

5. STOCKS
2025 2024
£    £   
Stocks 9,000 11,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Other debtors 40 26

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts (see note 9) 5,000 5,000
Other creditors 12,965 15,238
17,965 20,238

City Auctions Limited (Registered number: 08359009)

Notes to the Financial Statements - continued
for the year ended 31 January 2025

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2024
£    £   
Bank loans (see note 9) 4,267 6,767

9. LOANS

An analysis of the maturity of loans is given below:

2025 2024
£    £   
Amounts falling due within one year or on demand:
Bank loans 5,000 5,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 4,267 5,000

Amounts falling due between two and five years:
Bank loans - 2-5 years - 1,767