Registered number
12294801
Auction House TV. Com Ltd
Report and Financial Statements
30 November 2024
Auction House TV. Com Ltd
Registered number: 12294801
Directors' Report
The directors present their report and financial statements for the year ended 30 November 2024.
Principal activities
The company's principal activity during the year was that of an online auction business.
Directors
The following persons served as directors during the year:
Mr J King
Woolsworthsexpress.com Ltd (Appointed 26 July 2024)
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 29 August 2025 and signed on its behalf.
Mr J King
Director
Auction House TV. Com Ltd
Profit and Loss Account
for the year ended 30 November 2024
Notes 2024 2023
£ £
Turnover 2,245,368 1,698,421
Cost of sales (1,078,305) (864,857)
Gross profit 1,167,063 833,564
Administrative expenses (629,343) (535,839)
Operating profit 537,720 297,725
Interest receivable 63 42
Interest payable (192) (186)
Profit on ordinary activities before taxation 537,591 297,581
Tax on profit on ordinary activities (9,863) (2,568)
Profit for the financial year 527,728 295,013
Auction House TV. Com Ltd
Registered number: 12294801
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £ £ £
Fixed assets
Tangible assets 3 1,195,622 762,571
Current assets
Debtors 4 387,407 322,637
Cash at bank and in hand 182,369 156,675
569,776 479,312
Creditors: amounts falling due within one year 5 (227,954) (236,154)
Net current assets 341,822 243,158
Total assets less current liabilities 1,537,444 1,005,729
Creditors: amounts falling due after more than one year 6 (126,498) (122,511)
Net assets 1,410,946 883,218
Capital and reserves
Called up share capital 100,000 100,000
Profit and loss account 1,310,946 783,218
Shareholder's funds 1,410,946 883,218
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr J King
Director
Approved by the board on 29 August 2025
Auction House TV. Com Ltd
Notes to the Accounts
for the year ended 30 November 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% on reducing balance basis
Motor vehicles 25% on reducing balance basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 10 8
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2023 912,436 130,170 1,042,606
Additions 652,137 - 652,137
At 30 November 2024 1,564,573 130,170 1,694,743
Depreciation
At 1 December 2023 218,666 61,369 280,035
Charge for the year 201,886 17,200 219,086
At 30 November 2024 420,552 78,569 499,121
Net book value
At 30 November 2024 1,144,021 51,601 1,195,622
At 30 November 2023 693,770 68,801 762,571
4 Debtors 2024 2023
£ £
Trade debtors 381,940 318,426
Other debtors 5,467 4,211
387,407 322,637
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 190,349 207,945
Corporation tax 9,863 2,568
Other taxes and social security costs 19,852 17,488
Other creditors 7,890 8,153
227,954 236,154
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 126,498 122,511
126,498 122,511
7 Other information
Auction House TV. Com Ltd is a private company limited by shares and incorporated in England. Its registered office is:
210 Causeway Green Road
Oldbury
West Midlands
B68 8LS
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