Telsar Auctions Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10505682 (England and Wales)

Financial Statements for the Year Ended 31 December 2020

for

Telsar Auctions Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Report of the Accountants

6

DIRECTORS:

Mr Dipash Patel

Mr Baljinder Panesar

REGISTERED OFFICE:

143 Eastfield Road

Peterborough

Camrbidgeshire

PE1 4AU

REGISTERED NUMBER:

10505682 (England and Wales)

CURRENT ASSETS

Debtors

4

72,096

82,096

Cash at bank and in hand

56,223

6,796

128,319

88,892

CREDITORS

Amounts falling due within one year

5

28,523

34,696

NET CURRENT ASSETS

99,796

54,196

TOTAL ASSETS LESS CURRENT LIABILITIES

99,796

54,196

CREDITORS

Amounts falling due after more than one year

6

50,000

-

NET ASSETS

49,796

54,196

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

49,696

54,096

SHAREHOLDERS' FUNDS

49,796

54,196

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 February 2021 and were signed on its behalf by:

Mr Dipash Patel - Director

1.	STATUTORY INFORMATION

Telsar Auctions Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Telsar Ltd

60,000

70,000

Other Debtors

12,000

12,000

Value Added Tax

96

96

72,096

82,096

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade creditors

5,326

5,313

Corporation Tax

-

8,586

Directors' current accounts

23,197

20,797

28,523

34,696

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.20

31.12.19

£

£

Bank loans - 2-5 years

50,000

-

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.20

31.12.19

value:

£

£

100

Ordinary Share

1

100

100

8.

RESERVES

Retained

earnings

£

At 1 January 2020

54,096

Deficit for the year

(4,400

)

At 31 December 2020

49,696

The following reproduces the text of the report prepared for the directors 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 Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 31 December 2020 set out on pages nil to nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Date: .............................................