Company Registration No. 00128165 (England and Wales)
THE PONTELAND AUCTION MART COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
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 2016
31 December 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
3
33,535
33,535
Current assets
Debtors
4
158
226
Cash at bank and in hand
286,204
284,575
286,362
284,801
Creditors: amounts falling due within one year
5
(22,237)
(22,642)
Net current assets
264,125
262,159
Total assets less current liabilities
297,660
295,694
Capital and reserves
Called up share capital
6
11,067
11,067
Profit and loss reserves
286,593
284,627
Total equity
297,660
295,694
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 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T he directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.he directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 .he 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 26 April 2017 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 2016
- 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
Tangible fixed assets
Freehold land is not depreciated.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 4 (2015 - 4).
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 January 2016 and 31 December 2016
33,535
Depreciation and impairment
At 1 January 2016 and 31 December 2016
-
Carrying amount
At 31 December 2016
33,535
At 31 December 2015
33,535
THE PONTELAND AUCTION MART COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2016
- 3 -
4
Debtors
2016
2015
Amounts falling due within one year:
£
£
Other debtors
158
226
5
Creditors: amounts falling due within one year
2016
2015
£
£
Corporation tax
95
-
Other creditors
22,142
22,642
22,237
22,642
6
Called up share capital
2016
2015
£
£
Ordinary share capital
Issued and fully paid
11,067 Ordinary of £1 each
11,067
11,067
7
Control
The shareholders are the ultimate controlling parties of the company.