Asset Auctions Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 11788751

		2025
	Notes	£	£
FIXED ASSETS
Tangible Assets	4		169,100

			169,100
CURRENT ASSETS
Stocks	5	189,293
Debtors	6	5,383
Cash at bank and in hand		15,467

		210,143
Creditors: Amounts Falling Due Within One Year	7	(160,411 )

NET CURRENT ASSETS (LIABILITIES)			49,732

TOTAL ASSETS LESS CURRENT LIABILITIES			218,832

Creditors: Amounts Falling Due After More Than One Year	8		(289,435 )

PROVISIONS FOR LIABILITIES
Provisions For Charges			(12,033 )

NET LIABILITIES			(82,636 )

CAPITAL AND RESERVES
Called up share capital	10		100
Profit and Loss Account			(82,736 )

SHAREHOLDERS' FUNDS			(82,636)

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Asset Auctions Ltd

Balance Sheet (continued)

As At 31 January 2025

For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Nigel Priestley

Director

30th March 2026

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Asset Auctions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11788751 . The registered office is Systems House Lodge Lane, Tuxford, Newark, NG22 0NL.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	2
Leasehold	2
Plant & Machinery	20
Fixtures & Fittings	20
Computer Equipment	25

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3

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Asset Auctions Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

4. Tangible Assets

	Land & Property
	Freehold	Leasehold	Plant & Machinery	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 February 2024	115,952	-	31,818	9,665
Additions	-	-	-	-
Other	-	-	58,600	-

As at 31 January 2025	115,952	-	90,418	9,665

Depreciation
As at 1 February 2024	5,857	-	5,484	4,571
Provided during the period	-	2,201	9,067	1,018
Other	-	-	24,483	-

As at 31 January 2025	5,857	2,201	39,034	5,589

Net Book Value
As at 31 January 2025	110,095	(2,201 )	51,384	4,076

As at 1 February 2024	110,095	-	26,334	5,094


	Computer Equipment	Total
	£	£
Cost
As at 1 February 2024	12,207	169,642
Additions	1,023	1,023
Other	-	58,600

As at 31 January 2025	13,230	229,265

Depreciation
As at 1 February 2024	5,910	21,822
Provided during the period	1,574	13,860
Other	-	24,483

As at 31 January 2025	7,484	60,165

Net Book Value
As at 31 January 2025	5,746	169,100

As at 1 February 2024	6,297	147,820

5. Stocks

	2025
	£
Stock	189,293

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Asset Auctions Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

6. Debtors

	2025
	£
Due within one year
Trade debtors	4,000
Other debtors	1,383

	5,383

7. Creditors: Amounts Falling Due Within One Year

	2025
	£
Net obligations under finance lease and hire purchase contracts	2,452
Trade creditors	106,805
Other creditors	48,731
Taxation and social security	2,423

	160,411

8. Creditors: Amounts Falling Due After More Than One Year

	2025
	£
Bank loans BBL	15,831
Other creditors	273,604

	289,435

9. Obligations Under Finance Leases and Hire Purchase

	2025
	£
The future minimum finance lease payments are as follows:
Not later than one year	2,452
Later than one year and not later than five years	-

	2,452

	2,452

10. Share Capital

	2025
	£
Allotted, Called up and fully paid	100

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