Company Registration No. 08795454 (England and Wales)
NESBITS AUCTIONS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2015
NESBITS AUCTIONS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
NESBITS AUCTIONS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
Notes
£
£
Fixed assets
Intangible assets
2
35,000
Tangible assets
2
9,090
44,090
Current assets
Debtors
47,414
Cash at bank and in hand
27,208
74,622
Creditors: amounts falling due within one year
(45,576)
Net current assets
29,046
Total assets less current liabilities
73,136
Creditors: amounts falling due after more than one year
(38,000)
Provisions for liabilities
(1,818)
33,318
Capital and reserves
Called up share capital
3
175
Profit and loss account
33,143
Shareholders' funds
33,318
NESBITS AUCTIONS LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2015
31 March 2015
- 2 -
For the financial period ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 22 July 2015
Mr J Cameron
Director
Company Registration No. 08795454
NESBITS AUCTIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 31 MARCH 2015
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for professional services provided net of VAT.professional services provided net of VAT.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
33% - Straight line
Fixtures, fittings & equipment
20% - Reducing balance
Motor vehicles
25% - Reducing balance
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 28 November 2013
-
-
-
Additions
60,000
11,021
71,021
At 31 March 2015
60,000
11,021
71,021
Depreciation
At 28 November 2013
-
-
-
Charge for the period
25,000
1,931
26,931
At 31 March 2015
25,000
1,931
26,931
Net book value
At 31 March 2015
35,000
9,090
44,090
NESBITS AUCTIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2015
- 4 -
3
Share capital
2015
£
Allotted, called up and fully paid
175 Ordinary shares of £1 each
175
2015-03-31falsetruetruetruetruetrue2013-11-28tmpB866.html2015-08-10087954542013-11-282015-03-31087954542015-03-3108795454uk-bus:Director12013-11-282015-03-3108795454uk-gaap:ComputerEquipment2013-11-282015-03-3108795454uk-gaap:FixturesFittingsToolsEquipment2013-11-282015-03-3108795454uk-gaap:MotorVehicles2013-11-282015-03-3108795454uk-bus:OrdinaryShareClass12013-11-282015-03-3108795454uk-bus:OrdinaryShareClass12015-03-31xbrli:purexbrli:sharesiso4217:GBP
