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Financial Statements
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Contents
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Page
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Directors' report
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1
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Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements
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2
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Statement of income and retained earnings
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3
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Statement of financial position
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4
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Notes to the financial statements
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5
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Detailed income statement
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9
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Notes to the detailed income statement
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10
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Directors' Report
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Director
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Registered office:
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England
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Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
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Statement of Income and Retained Earnings
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2017
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2016
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Note
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£
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£
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Turnover
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Cost of sales
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---------
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Gross profit
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Administrative expenses
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Other operating income
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---------
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---------
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Operating (loss)/profit
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(
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Other interest receivable and similar income
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Interest payable and similar expenses
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---------
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---------
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(Loss)/profit before taxation
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5
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(
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Tax on (loss)/profit
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–
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–
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-------
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-------
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(Loss)/profit for the financial year and total comprehensive income
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(
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-------
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-------
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Retained earnings/(losses) at the start of the year
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(
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-------
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-------
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Retained (losses)/earnings at the end of the year
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(
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-------
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-------
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Statement of Financial Position
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2017
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2016
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Note
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£
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£
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£
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Tangible assets
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6
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Debtors
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7
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Cash at bank and in hand
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--------
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--------
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Creditors: amounts falling due within one year
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8
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--------
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--------
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Net current liabilities
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--------
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-------
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Total assets less current liabilities
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(
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-------
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----
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Net (liabilities)/assets
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(
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-------
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----
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Called up share capital
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Profit and loss account
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(
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-------
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----
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Members (deficit)/funds
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(
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-------
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----
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Director
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Notes to the Financial Statements
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Equipment
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-
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2017
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2016
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£
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£
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Depreciation of tangible assets
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-------
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-------
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Equipment
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£
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Cost
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At 1 April 2016
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Additions
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--------
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At 31 March 2017
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--------
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Depreciation
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At 1 April 2016
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Charge for the year
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--------
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At 31 March 2017
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--------
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Carrying amount
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At 31 March 2017
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--------
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At 31 March 2016
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--------
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2017
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2016
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£
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£
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Trade debtors
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Other debtors
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--------
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--------
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2017
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2016
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£
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£
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Trade creditors
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Amounts owed to group undertakings and undertakings in which the company has a participating interest
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Social security and other taxes
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Other creditors
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--------
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2017
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Balance brought forward
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Advances/ (credits) to the directors
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Balance outstanding
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£
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£
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£
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(
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(
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----
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2016
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Balance brought forward
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Advances/ (credits) to the directors
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Balance outstanding
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£
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£
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£
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(
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(
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-------
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----
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Management Information
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Detailed Income Statement
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2017
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2016
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£
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£
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Turnover
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Auction Costs
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45,296
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41,536
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Shared Commissions
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21,862
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9,899
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Advertising
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33,071
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34,297
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---------
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--------
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100,229
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85,732
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Gross profit
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Administrative expenses
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130,754
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132,953
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Other operating income
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1,500
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3,740
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-------
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-------
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Operating (loss)/profit
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(
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Other interest receivable and similar income
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14
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30
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Interest payable and similar expenses
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40
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25
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-------
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(Loss)/profit before taxation
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(
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-------
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-------
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Notes to the Detailed Income Statement
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2017
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2016
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£
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£
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Rent
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12,000
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10,635
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Rates and water
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–
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157
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Insurance
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131
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160
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Repairs and maintenance
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947
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2,721
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Cleaning costs
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61
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100
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Motor expenses
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5,887
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5,893
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Travel and subsistence
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2,481
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1,784
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Telephone
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7
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–
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Printing postage and stationery
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1,641
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1,783
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Staff training
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190
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175
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Sundry expenses
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450
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288
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Charitable donations
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791
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300
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Computer and Software
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3,000
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2,240
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Subscriptions
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1,447
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239
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Management Fees
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90,000
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99,900
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Legal and professional fees
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4,750
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–
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Accountancy and book-keeping
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2,707
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2,781
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Depreciation of tangible assets
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3,914
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3,418
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Bank charges
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350
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379
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---------
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130,754
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132,953
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Commissions receivable
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1,500
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3,140
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Other operating income
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–
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600
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-------
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1,500
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3,740
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Interest on cash and cash equivalents
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14
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30
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Interest on banks loans and overdrafts
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40
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25
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