REGISTERED NUMBER: 04162579 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2017

FOR

A & S TRADING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs A Benn

SECRETARY:

REGISTERED OFFICE:

40 Montpelier

Weston-super-Mare

North Somerset

BS2 2RN

REGISTERED NUMBER:

04162579 (England and Wales)

ACCOUNTANTS:

J J Bright ACMA

Crabtree Farm

Tweed Rd

CLEVEDON

Somerset

BS21 6RR

FIXED ASSETS

Intangible assets

4

10,625

20,625

Tangible assets

5

7,798

6,763

18,423

27,388

CURRENT ASSETS

Stocks

6

27,000

29,000

Debtors

7

2,949

309

Cash at bank and in hand

1,553

848

31,502

30,157

CREDITORS

Amounts falling due within one year

8

41,535

47,994

NET CURRENT LIABILITIES

(10,033

)

(17,837

)

TOTAL ASSETS LESS CURRENT LIABILITIES

8,390

9,551

CREDITORS

Amounts falling due after more than one year

9

31,500

58,000

NET LIABILITIES

(23,110

)

(48,449

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(23,210

)

(48,549

)

SHAREHOLDERS' FUNDS

(23,110

)

(48,449

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the director on 19 February 2018 and were signed by:

Mrs A Benn - Director

1.	STATUTORY INFORMATION

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Stocks

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

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Going concern

The financial statements have been prepared on a going concern basis. The director is constantly reviewing the

financial position of the company and continues to provide financial support when necessary.

Goodwill

Positive goodwill is capitalised, classed as an asset on the balance sheet and has been amortised on a straight

line basis over its economic life estimated to up to a maximum of 20 years.

Following a review, it would be prudent to accelerate the rate of amortisation, and a charge of £10,000 has been

made in the 2017 accounts.

Operating leases

Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the

lease term.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2016

and 30 September 2017

75,000

AMORTISATION

At 1 October 2016

54,375

Charge for year

10,000

At 30 September 2017

64,375

NET BOOK VALUE

At 30 September 2017

10,625

At 30 September 2016

20,625

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 October 2016

7,077

55,896

62,973

Additions

-

2,253

2,253

At 30 September 2017

7,077

58,149

65,226

DEPRECIATION

At 1 October 2016

7,077

49,133

56,210

Charge for year

-

1,218

1,218

At 30 September 2017

7,077

50,351

57,428

NET BOOK VALUE

At 30 September 2017

-

7,798

7,798

At 30 September 2016

-

6,763

6,763

6.

STOCKS

2017

2016

£

£

Stocks

27,000

29,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

2,711

274

VAT

210

7

Prepayments

28

28

2,949

309

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

4,051

24,702

Trade creditors

13,989

15,153

Tax

8,135

4,599

Social security and other taxes

419

198

Wages Control

-

10

Other creditors

-

188

Other Creditors

145

-

Pension Fund Control

12

(7

)

Directors' current accounts

462

1,301

Accrued expenses

14,322

1,850

41,535

47,994

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Directors' loan accounts

31,500

58,000

10.	LEASING AGREEMENTS

As at 30 September 2016, the company had annual commitments under non-cancellable operating leases as

follows:

Operating leases that expire:

30 September 2017 30 September 2016

Land and Buildings

Within two and five years 3,500 3,700

7,500

11.	RELATED PARTY DISCLOSURES

At 30 September 2016 an amount of £1,301 (2015 - £1,029) was due to Mr S & Mrs A Benn by the company.

The loan is interest free with no fixed date for repayment. Mrs A Benn is a director shareholder of the company.

At 30 September 2016 an amount of £58,000 (2015 - £75,000) was due by the company to Mrs Benn. The loan

has no fixed date for repayment and is incurring interest at 5% per annum.

.

.

12.	AMORTISATION / DEPRECIATION

Amortisation is provided on intangible fixed assets so as to write off the cost, less any residual value, over their

expected useful economic life as follows:

ASSET CLASS AMORTISATION METHOD AND RATE

Goodwill 5% straight line

DEPRECIATION

Depreciation is provided on tangible assets so as to write off the cost or valuation, less any estimated residual

value, over their expected useful economic life as follows:

ASSET CLASS DEPRECIATION RATE

Plant and Machinery 15% reducing balance

Motor Vehicles 25% reducing balance

Leasehold improvements Over remaining life of the lease

13.

CONTROL

The company is controlled by the director who owns 100% of the called up share capital.