The Broughton Auction Co Limited - Abbreviated accounts 16.1

The Broughton Auction Co Limited - Abbreviated accounts 16.1

BROUGHTON AUCTION CO LIMITED(THE) - Company Information

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REGISTERED NUMBER: 00011771















Abbreviated Unaudited Accounts for the Year Ended 31 December 2015

for

The Broughton Auction Co Limited

The Broughton Auction Co Limited (Registered number: 00011771)






Contents of the Abbreviated Accounts
for the Year Ended 31 December 2015

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Page

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2

Chartered Accountants' Report 4

The Broughton Auction Co Limited (Registered number: 00011771)

Abbreviated Balance Sheet
31 December 2015

2015 2014
Notes £    £    £    £   
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FIXED ASSETS
Tangible assets 2 15,282 15,955

CURRENT ASSETS
Debtors 5,264 6,222
Investments 82,581 85,260
Cash at bank 3,613 4,292
91,458 95,774
CREDITORS
Amounts falling due within one year 4,381 7,311
NET CURRENT ASSETS 87,077 88,463
TOTAL ASSETS LESS CURRENT
LIABILITIES
102,359
104,418

CAPITAL AND RESERVES
Called up share capital 3 1,345 1,345
Share premium 1,109 1,109
Profit and loss account 99,905 101,964
SHAREHOLDERS' FUNDS 102,359 104,418

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 19 May 2016 and were signed on its behalf by:





Mr R W Johnson - Director


The notes form part of these abbreviated accounts

Page 1
The Broughton Auction Co Limited (Registered number: 00011771)

Notes to the Abbreviated Accounts
for the Year Ended 31 December 2015
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1. ACCOUNTING POLICIES

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).

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 10% to 33% reducing balance
Fixtures and fittings - 10% to 50% reducing balance
Computer equipment - 10% to 50% reducing balance

Tangible fixed assets
No depreciation charge is made on freehold property on the grounds that it would be immaterial because the
estimated residual value of the tangible fixed asset is not materially different from the carrying amount of the
asset.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract
that evidences a residual interest in the assets of the company after deducting all of its liabilities.

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 January 2015
and 31 December 2015 68,305
DEPRECIATION
At 1 January 2015 52,350
Charge for year 673
At 31 December 2015 53,023
NET BOOK VALUE
At 31 December 2015 15,282
At 31 December 2014 15,955

3. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2015 2014
value: £    £   
1,345 Ordinary Shares £1 1,345 1,345

Page 2 continued...
The Broughton Auction Co Limited (Registered number: 00011771)

Notes to the Abbreviated Accounts - continued
for the Year Ended 31 December 2015
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4. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Directors of the company paid commission on sales during the year as follows:

Mr R W Johnson £914 (2014 - £335)
Mr I Edmondson £Nil (2014 - £21)
Mr R Holland £1,223 (2014 - £1,000)
Mr D Nicholson £995 (2014 - £617)
Mr N A Temple £1,085 (2014 - £1,493)
Mr B J Knowles £663 (2014 - £718)
Mr J McWilliam £359 (20134 - £946)

The above transactions with company directors represent the total amounts of commission received by H&H
Group for the sale of livestock but excluding transactions direct to abattoir and the trade relates to arm's length
transactions. There were no debts due at the year end.

Page 3
Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
The Broughton Auction Co Limited

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The following reproduces the text of the report prepared for the directors in respect of the company's annual
unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages one to
three) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements of The Broughton Auction Co Limited for the year ended 31 December 2015 which comprise the
Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from
information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of The Broughton Auction Co Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Broughton Auction Co Limited and state those matters that we have agreed to state to the Board of Directors of The Broughton Auction Co Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The Broughton Auction Co Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of The Broughton Auction Co Limited. You consider that The Broughton Auction Co Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The Broughton Auction Co Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






R F Miller & Co
Chartered Accountants
Bellevue
Princes Street
Ulverston
Cumbria
LA12 7NB


19 May 2016

This page does not form part of the abbreviated accounts

Page 4