| Malcolm Harrison Auctions Limited |
| Registered number: |
05032924 |
| Abridged Balance Sheet |
| as at 30 September 2022 |
|
| Notes |
|
|
2022 |
|
|
2021 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
3 |
|
|
8,260 |
|
|
9,440 |
| Tangible assets |
4 |
|
|
202,177 |
|
|
152,512 |
|
|
|
|
210,437 |
|
|
161,952 |
|
| Current assets |
| Debtors |
|
|
4,826,447 |
|
|
4,390,230 |
| Cash at bank and in hand |
|
|
963,963 |
|
|
231,892 |
|
|
|
5,790,410 |
|
|
4,622,122 |
|
| Creditors: amounts falling due within one year |
|
|
(3,642,241) |
|
|
(2,768,070) |
|
| Net current assets |
|
|
|
2,148,169 |
|
|
1,854,052 |
|
| Total assets less current liabilities |
|
|
|
2,358,606 |
|
|
2,016,004 |
|
| Creditors: amounts falling due after more than one year |
|
|
|
(29,167) |
|
|
(39,167) |
|
|
|
| Net assets |
|
|
|
2,329,439 |
|
|
1,976,837 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
2,329,339 |
|
|
1,976,737 |
|
| Shareholders' funds |
|
|
|
2,329,439 |
|
|
1,976,837 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
|
| MC Harrison |
| Director |
| Approved by the board on 28 June 2023 |
|
| Malcolm Harrison Auctions Limited |
| Notes to the Abridged Accounts |
| for the year ended 30 September 2022 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102 Section 1A, "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. |
|
|
Turnover |
|
Turnover represents amounts invoiced by the company during the year, derived from ordinary activities, excluding value added tax and discounts allowed. Turnover is recognised under an exchange transaction with a customer when, and to the extent that, the company obtains the right to consideration in exchange for its performance.
Revenue is recognised when services have been performed for customers. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are stated at cost less accumulated depreciation and any accumulated impairment losses. Depreciation has been calculated so as to write off the cost of tangible fixed assets, less their estimated residual value, over their expected useful lives, as follows: |
|
|
Motor Vehicles and Plant & Machinery |
25 % & 20% on net book value |
|
Computer Equipment |
25 % on net book value |
|
|
|
|
Taxation |
|
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains or losses in tax assessments in periods different from those in which they are recognised in the financial statements.
Deferred tax is measured at the tax rates that are expected to apply in the periods in which timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis. |
|
|
Foreign currency translation |
|
Amounts invoiced to the company denominated in foreign currencies are translated at the rate of exchange ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the balance sheet date. All exchange differences are dealt with through the profit and loss account. |
|
|
| 2 |
Employees |
2022 |
|
2021 |
| Number |
Number |
|
|
Average number of persons employed by the company |
19 |
|
18 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Intangible fixed assets |
£ |
|
Software & Website |
|
|
Cost |
|
At 1 October 2021 |
11,800 |
|
At 30 September 2022 |
11,800 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 October 2021 |
2,360 |
|
Provided during the year |
1,180 |
|
At 30 September 2022 |
3,540 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 September 2022 |
8,260 |
|
At 30 September 2021 |
9,440 |
|
|
|
|
|
|
|
|
|
|
Software & Website costs are being written off in equal annual instalments over its estimated economic life of 10 years. |
|
|
| 4 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Total |
| £ |
|
Cost |
|
At 1 October 2021 |
351,921 |
|
Additions |
121,616 |
|
Disposals |
(26,355) |
|
At 30 September 2022 |
447,182 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 October 2021 |
199,409 |
|
Charge for the year |
63,612 |
|
On disposals |
(18,016) |
|
At 30 September 2022 |
245,005 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 September 2022 |
202,177 |
|
At 30 September 2021 |
152,512 |
|
|
| 5 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
MC Harrison |
|
[Loan 1] |
20,828 |
|
|
|
(20,828) |
|
- |
|
|
Mrs JL Harrison |
|
[Loan 1] |
4,157 |
|
|
|
(4,157) |
|
- |
|
|
|
24,985 |
|
- |
|
(24,985) |
|
- |
|
|
|
|
|
|
|
|
|
|
| 6 |
Controlling Party and Associated Companies |
|
|
The company is controlled by MC Harrison, by virtue of his ownership of 75% of the share capital. |
|
|
The following are associated companies: |
|
|
|
Prees Storage Ltd |
|
|
Bridgemere Tractors Limited |
|
|
Tadgedale Quarry Restoration Limited |
|
|
Bridgemere Estates Limited |
|
|
Bridgemere Holdings Limited |
|
|
Davison Forklift Limited |
|
|
Davison Hire Limited |
|
| 7 |
Business Review and Other information |
|
|
The business has now relocated to a new purpose built auction site and offices on the A41 site |
|
at Tilstock Airfield, Prees Heath. |
|
|
Since the year end two new staff members have joined the team to further enhance the business. |
|
These personnel will be specifically specialising in the agricultural and vintage section and will |
|
also be dedicated to further on-site plant and truck retirement/company reorganisations. |
|
|
|
Malcolm Harrison Auctions Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
|
Tilstock Airfield |
|
|
A49 Prees Heath |
|
|
Whitchurch |
|
|
Shropshire |
