THE_PONTELAND_AUCTION_MAR - Accounts


Company Registration No. 00128165 (England and Wales)
THE PONTELAND AUCTION MART COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
PAGES FOR FILING WITH REGISTRAR
THE PONTELAND AUCTION MART COMPANY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
THE PONTELAND AUCTION MART COMPANY LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2017
31 December 2017
- 1 -
2017
2016
Notes
£
£
£
£
Fixed assets
Tangible assets
3
33,535
33,535
Current assets
Debtors
4
147
158
Cash at bank and in hand
288,108
286,204
288,255
286,362
Creditors: amounts falling due within one year
5
(22,850)
(22,237)
Net current assets
265,405
264,125
Total assets less current liabilities
298,940
297,660
Capital and reserves
Called up share capital
6
11,067
11,067
Profit and loss reserves
287,873
286,593
Total equity
298,940
297,660

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

The financial statements were approved by the board of directors and authorised for issue on 8 May 2018 and are signed on its behalf by:
Mr B Henderson
Mr M P Gilhespy
Director
Director
Company Registration No. 00128165
THE PONTELAND AUCTION MART COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
- 2 -
1
Accounting policies
Company information

The Ponteland Auction Mart Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is South Carter Moor, Kirkley, Ponteland, Newcastle upon Tyne, NE20 0BH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

The company has not actively traded as an auction mart for some time. Turnover is represented by grass parks income, Basic Payment Scheme receipts and bank interest receivable.

1.3
Tangible fixed assets

Freehold land is not depreciated.

1.4
Taxation
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 4 (2016 - 4).

THE PONTELAND AUCTION MART COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2017
- 3 -
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 January 2017 and 31 December 2017
33,535
Depreciation and impairment
At 1 January 2017 and 31 December 2017
-
Carrying amount
At 31 December 2017
33,535
At 31 December 2016
33,535
4
Debtors
2017
2016
Amounts falling due within one year:
£
£
Other debtors
147
158
5
Creditors: amounts falling due within one year
2017
2016
£
£
Trade creditors
258
-
Corporation tax
400
95
Other creditors
22,192
22,142
22,850
22,237
6
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
11,067Ordinary of £1 each
11,067
11,067
11,067
11,067
2017-12-312017-01-01falseCCH SoftwareCCH Accounts Production 2018.100No description of principal activity08 May 2018Mr B HendersonMr R B CharltonMr M P GilhespyMr I IrelandMr B Henderson001281652017-01-012017-12-31001281652017-12-31001281652016-12-3100128165core:LandBuildings2017-12-3100128165core:LandBuildings2016-12-3100128165core:CurrentFinancialInstruments2017-12-3100128165core:CurrentFinancialInstruments2016-12-3100128165core:ShareCapital2017-12-3100128165core:ShareCapital2016-12-3100128165core:RetainedEarningsAccumulatedLosses2017-12-3100128165core:RetainedEarningsAccumulatedLosses2016-12-3100128165core:ShareCapitalOrdinaryShares2017-12-3100128165core:ShareCapitalOrdinaryShares2016-12-3100128165bus:CompanySecretaryDirector12017-01-012017-12-3100128165bus:Director22017-01-012017-12-3100128165core:LandBuildings2016-12-3100128165bus:OrdinaryShareClass12017-01-012017-12-3100128165bus:OrdinaryShareClass12017-12-3100128165bus:PrivateLimitedCompanyLtd2017-01-012017-12-3100128165bus:FRS1022017-01-012017-12-3100128165bus:AuditExemptWithAccountantsReport2017-01-012017-12-3100128165bus:SmallCompaniesRegimeForAccounts2017-01-012017-12-3100128165bus:Director12017-01-012017-12-3100128165bus:Director32017-01-012017-12-3100128165bus:Director42017-01-012017-12-3100128165bus:CompanySecretary12017-01-012017-12-3100128165bus:FullAccounts2017-01-012017-12-31xbrli:purexbrli:sharesiso4217:GBP