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REGISTERED NUMBER:
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BIGWOOD FINE ART AUCTIONEERS LIMITED |
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2017 |
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REGISTERED NUMBER:
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BIGWOOD FINE ART AUCTIONEERS LIMITED |
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2017 |
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BIGWOOD FINE ART AUCTIONEERS LIMITED (REGISTERED NUMBER: 02013405) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2017 |
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Balance Sheet | 1 |
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Notes to the Financial Statements | 3 |
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BIGWOOD FINE ART AUCTIONEERS LIMITED (REGISTERED NUMBER: 02013405) |
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BALANCE SHEET |
30 JUNE 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
BIGWOOD FINE ART AUCTIONEERS LIMITED (REGISTERED NUMBER: 02013405) |
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BALANCE SHEET - continued |
30 JUNE 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and loss has not been delivered. |
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The financial statements were approved by the Board of Directors on
signed on its behalf by: |
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BIGWOOD FINE ART AUCTIONEERS LIMITED (REGISTERED NUMBER: 02013405) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2017 |
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1. | STATUTORY INFORMATION |
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Bigwood Fine Art Auctioneers Limited is a private company limited by shares. The company |
is registered in England under number 02013405 and the address of the registered office is |
The Old School, Tiddington, Stratford On Avon, Warwickshire, CV37 7AW. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
On first-time adoption of FRS 102 Section 1A there were no adjustments arising from the |
transition from the previous UK GAAP financial reporting framework. As a consequence |
there is no necessity to produce notes itemising reconciliation of equity at the date of |
transition and date of previous year end, or a reconciliation of profit at the previous year end, |
or any explanatory notes. |
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Turnover |
Turnover is the value of goods and services provided to customers during the year with |
revenue being recognised with respect to the services as contractual activity progresses |
excluding value added tax and sales of fixed assets. The turnover is derived wholly from |
within the United Kingdom. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and |
loss, except to the extent that it relates to items recognised in other comprehensive income |
or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 balance sheet date. |
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BIGWOOD FINE ART AUCTIONEERS LIMITED (REGISTERED NUMBER: 02013405) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2017 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not |
reversed at the balance sheet date. |
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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. |
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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. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over |
the period of the lease. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 July 2016 |
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Additions |
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Disposals |
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( |
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At 30 June 2017 |
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DEPRECIATION |
At 1 July 2016 |
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Charge for year |
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Eliminated on disposal |
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( |
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At 30 June 2017 |
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NET BOOK VALUE |
At 30 June 2017 |
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At 30 June 2016 |
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BIGWOOD FINE ART AUCTIONEERS LIMITED (REGISTERED NUMBER: 02013405) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2017 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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