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Abbreviated Unaudited Accounts for the Year Ended 31 January 2016 |
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Bath Auction Rooms Limited |
REGISTERED NUMBER:
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Abbreviated Unaudited Accounts for the Year Ended 31 January 2016 |
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for |
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Bath Auction Rooms Limited |
Bath Auction Rooms Limited (Registered number: 05228635) |
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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 | 4 |
Bath Auction Rooms Limited |
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Company Information |
for the Year Ended 31 January 2016 |
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DIRECTORS: |
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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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Chartered Accountants |
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Bath Auction Rooms Limited (Registered number: 05228635) |
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Abbreviated Balance Sheet |
31 January 2016 |
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31.1.16 | 31.1.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
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Tangible assets | 3 |
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CURRENT ASSETS |
Debtors |
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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 | 4 |
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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 |
(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. |
Bath Auction Rooms Limited (Registered number: 05228635) |
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Abbreviated Balance Sheet - continued |
31 January 2016 |
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The financial statements were approved by the Board of Directors on
behalf by: |
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Bath Auction Rooms Limited (Registered number: 05228635) |
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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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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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Turnover |
The turnover shown in the profit and loss account represents commissions earned, after VAT, on |
auctions transacted during the year. |
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Amortisation |
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, |
over the useful economic life of the asset as follows: |
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Goodwill - 5 years (2015: 20 years) |
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The useful economic life of the goodwill has been revised to ensure compliance with FRSSE 2015. |
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Tangible fixed assets |
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, |
over the useful economic life of that asset as follows: |
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Fixtures & Fittings - 5 years straight line |
Motor Vehicles - 25% Reducing Balance |
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All Fixed assets are initially recorded at cost. |
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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 where transactions or events have occurred at that date that will result in |
an obligation to pay more, or right to pay less or to receive more tax, with the following exceptions. |
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Provisions is made for tax on gains arising from the revaluation (and similar fair value adjustments) |
of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement |
assess only to the extent that, at the balance sheet date, there is a binding agreement to dispose of |
the assets concerned. However, no provision is made where, on the basis of all available evidence at |
the balance sheet date, it is more likely than not that the taxable gain will be rolled over into |
replacement assets and charged to tax only where the replacement assets are sold |
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Deferred tax assets are recognised only to the extent that directors consider that is more likely than |
not that there will be suitable taxable profits from which the future reversal of the underlying timing |
differences can be deducted. |
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Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the |
periods in which timing differences reverse, based on tax rates and laws enacted or substantively |
enacted at the balance sheet date. |
Bath Auction Rooms Limited (Registered number: 05228635) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 January 2016 |
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1. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership |
remain with the lessor are charged against profits on a straight line basis over the period of the |
lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the |
company's pension scheme are charged to the profit and loss account in the period to which they |
relate. |
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Pension |
The company operates a defined contribution pension scheme for employees. The assets of the |
scheme are held separately from those of the company. The annual contributions payable are |
charged to the profit and loss account. |
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2. | INTANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 February 2015 |
and 31 January 2016 |
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AMORTISATION |
At 1 February 2015 |
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Amortisation for year |
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At 31 January 2016 |
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NET BOOK VALUE |
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At 31 January 2016 |
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At 31 January 2015 |
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Bath Auction Rooms Limited (Registered number: 05228635) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 January 2016 |
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3. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 February 2015 |
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Additions |
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Disposals | ( |
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At 31 January 2016 |
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DEPRECIATION |
At 1 February 2015 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 January 2016 |
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NET BOOK VALUE |
At 31 January 2016 |
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At 31 January 2015 |
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.1.16 | 31.1.15 |
value: | £ | £ |
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Ordinary A Shares | £1 |
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Ordinary B Shares | £1 |
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1,000 | 1,000 |
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Both Classes of shares have equal rights in all respects, with the exception that they may receive |
dividends at different rates. |