REGISTERED NUMBER:
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Abbreviated Unaudited Accounts |
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for the Year Ended 31 January 2016 |
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for |
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City Auctions Limited |
REGISTERED NUMBER:
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Abbreviated Unaudited Accounts |
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for the Year Ended 31 January 2016 |
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for |
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City Auctions Limited |
City Auctions Limited (Registered number: 08359009) |
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Contents of the Abbreviated Accounts |
for the year ended 31 January 2016 |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 3 |
City Auctions Limited |
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Company Information |
for the year ended 31 January 2016 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
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City Auctions Limited (Registered number: 08359009) |
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Abbreviated Balance Sheet |
31 January 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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CURRENT ASSETS |
Stocks |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year |
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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 | 3 |
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Profit and loss account |
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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 |
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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. |
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The financial statements were approved by the Board of Directors on
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City Auctions Limited (Registered number: 08359009) |
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Notes to the Abbreviated Accounts |
for the year ended 31 January 2016 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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. |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the Financial |
Reporting Standard for Smaller Entities (effective January 2015). |
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Exemption from preparing a cash flow statement |
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small |
company. |
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Turnover |
Turnover represents invoiced sales of goods and commissions received. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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. |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
Additions |
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At 31 January 2016 |
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DEPRECIATION |
Charge for year |
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At 31 January 2016 |
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NET BOOK VALUE |
At 31 January 2016 |
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3. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | £1 |
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