REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 12 MARCH 2019 TO 31 MARCH 2020 |
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FOR |
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ABBEY AUCTIONS LTD |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 12 MARCH 2019 TO 31 MARCH 2020 |
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FOR |
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ABBEY AUCTIONS LTD |
ABBEY AUCTIONS LTD (REGISTERED NUMBER: 11877292) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 12 MARCH 2019 TO 31 MARCH 2020 |
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Company Information | 1 |
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Report of the Accountants | 2 |
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Balance Sheet | 3 |
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Notes to the Financial Statements | 4 |
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ABBEY AUCTIONS LTD |
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COMPANY INFORMATION |
FOR THE PERIOD 12 MARCH 2019 TO 31 MARCH 2020 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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T/A Mobile Accountants |
Chartered Management Accountants |
206 Turners Hill |
cheshunt |
Hertfordshire |
EN8 9DE |
ABBEY AUCTIONS LTD |
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REPORT OF THE ACCOUNTANTS TO THE DIRECTOR OF |
ABBEY AUCTIONS LTD |
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The following reproduces the text of the report prepared for the director in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the |
Report of the Director are not required to be filed with the Registrar of Companies. |
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Respective Responsibilities of the Directors and Reporting Accountants |
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As described in the directors report, the director is responsible for the preparation of the financial statements in accordance |
with applicable law and United Kingdom Accounting Standards. They consider the company is exempt from audit. Our |
responsibilities are to prepare the financial statements on behalf of the director, based on the company's accounting records |
and instruction from the directors. |
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Basis Of Opinion |
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We prepared the financial statements in accordance with best practice. We compared the financial statements with the |
accounting records maintained by the company and made such limited enquiries of the company, as we considered |
necessary for the preparation of these financial statements. |
We have not carried out an audit in accordance with Auditing Standards. Accordingly, we do not express an audit opinion |
on the financial statement. The financial statements are free from material misstatement whether by error, fraud or any |
other irregularities. |
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Opinion |
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In our opinion: |
(a) the financial statements are in agreement with accounting standards maintained by the companies act 2006 under section |
386 and 387 as well as information provided by the directors. |
(b) having regards only to, and on the basis of the information contained in those accounting records and instructions from |
the directors, the financial statements have been drawn up in a manner consistent with the requirements on the Companies |
Act 2006 and generally accepted accounting principles |
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T/A Mobile Accountants |
Chartered Management Accountants |
206 Turners Hill |
cheshunt |
Hertfordshire |
EN8 9DE |
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Date: ............................................. |
ABBEY AUCTIONS LTD (REGISTERED NUMBER: 11877292) |
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BALANCE SHEET |
31 MARCH 2020 |
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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 LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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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 director acknowledges his 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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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ABBEY AUCTIONS LTD (REGISTERED NUMBER: 11877292) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 12 MARCH 2019 TO 31 MARCH 2020 |
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1. | STATUTORY INFORMATION |
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Abbey Auctions Ltd is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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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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 period 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 period was
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ABBEY AUCTIONS LTD (REGISTERED NUMBER: 11877292) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 12 MARCH 2019 TO 31 MARCH 2020 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
Additions |
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At 31 March 2020 |
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DEPRECIATION |
Charge for period |
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At 31 March 2020 |
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NET BOOK VALUE |
At 31 March 2020 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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