Company Registration No. 06492484 (England and Wales)
A & S AUTO SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017
PAGES FOR FILING WITH REGISTRAR
A & S AUTO SERVICES LIMITED
COMPANY INFORMATION
Directors
C Harper
S Harper
Secretary
Mrs C Harper
Company number
06492484
Registered office
A and S Auto Services
Crowborough Hill
Crowborough
East Sussex
TN6 2EG
Accountants
Perrys Accountants Limited
Chartered Accountants
32-34 St John's Road
Tunbridge Wells
Kent
TN4 9NT
A & S AUTO SERVICES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
A & S AUTO SERVICES LIMITED (REGISTERED NUMBER: 06492484)
BALANCE SHEET
AS AT
31 MARCH 2017
31 March 2017
- 1 -
2017
2016
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,338
1,817
Current assets
Stocks
2,000
2,000
Debtors
4
17,241
2,155
Cash at bank and in hand
367
7
19,608
4,162
Creditors: amounts falling due within one year
5
(19,811)
(22,268)
Net current liabilities
(203)
(18,106)
Total assets less current liabilities
1,135
(16,289)
Capital and reserves
Called up share capital
6
1,000
1,000
Profit and loss reserves
135
(17,289)
Total equity
1,135
(16,289)

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 March 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.

A & S AUTO SERVICES LIMITED (REGISTERED NUMBER: 06492484)
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2017
31 March 2017
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 21 December 2017 and are signed on its behalf by:
S Harper
Director
A & S AUTO SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017
- 3 -
1
Accounting policies
Company information

A & S Auto Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is A and S Auto Services, Crowborough Hill, Crowborough, East Sussex, TN6 2EG.

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 £1.

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.

These financial statements for the year ended 31 March 2017 are the first financial statements of A & S Auto Services Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 April 2015. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.

1.2
Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% on reducing balance
Computer equipment
33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

A & S AUTO SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2017
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 2 (2016 - 4).

3
Tangible fixed assets
Plant and machinery
Computer equipment
Total
£
£
£
Cost
At 1 April 2016 and 31 March 2017
11,255
140
11,395
Depreciation and impairment
At 1 April 2016
9,532
47
9,579
Depreciation charged in the year
431
47
478
At 31 March 2017
9,963
94
10,057
Carrying amount
At 31 March 2017
1,292
46
1,338
At 31 March 2016
1,724
93
1,817
4
Debtors
2017
2016
Amounts falling due within one year:
£
£
Trade debtors
2,156
871
Corporation tax recoverable
321
-
Other debtors
14,764
1,284
17,241
2,155
5
Creditors: amounts falling due within one year
2017
2016
£
£
Bank loans and overdrafts
4,318
5,797
Trade creditors
2,935
2,935
Corporation tax
7,352
6,039
Other taxation and social security
3,128
4,999
Other creditors
2,078
2,498
19,811
22,268
A & S AUTO SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2017
- 5 -
6
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
1,000 Ordinary of £1 each
1,000
1,000
1,000
1,000
7
Directors' transactions

Dividends totalling £8,800 (2016 - £0) were paid in the year in respect of shares held by the company's directors.

As at the balance sheet date, the company was owed £14,764 by the director S Harper, this balance is included in other debtors.

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