A__S_Contracting_Services_Limited_30_Apr_2018_companies_house_set_of

A & S Contracting Services Limited

Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of A & S Contracting Services Limited for the year ended 30 April 2018

Year ended

30 April 2018

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the

financial statements

A & S Contracting Services Limited

for the year ended

30 April 2018

which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given me.

As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.

This report is made solely to the Board of Directors of

A & S Contracting Services Limited

, as a body, in accordance with the terms of my engagement letter dated 1 April 2018. My work has been undertaken solely to prepare for your approval the

financial statements

A & S Contracting Services Limited

and state those matters that I have agreed to state to the Board of Directors of

A & S Contracting Services Limited

, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than

A & S Contracting Services Limited

and its Board of Directors, as a body, for my work or for this report.

It is your duty to ensure that

A & S Contracting Services Limited

has kept adequate accounting records and to prepare statutory

financial statements

that give a true and fair view of the assets, liabilities, financial position and profit of

A & S Contracting Services Limited

. You consider that

A & S Contracting Services Limited

is exempt from the statutory audit requirement for the year.

I have not been instructed to carry out an audit or a review of the financial statements of A & S Contracting Services Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.

Gordon & Co

Chartered Accountants and Business Advisors

25/27 Station Street
Cheslyn Hay
Walsall
West Midlands
WS6 7ED
United Kingdom

Date:

17 December 2018

A & S Contracting Services Limited

Statement of Financial Position

30 April 2018

		2018		2017
	Note	£		£
Fixed assets
Tangible assets	5	44,421		63,301
Current assets
Stocks		500		500
Debtors	6	179,545		95,920
Cash at bank and in hand		21,991		21,409
		202,036		117,829
Creditors: amounts falling due within one year	7	(78,079	)	(58,634	)
Net current assets		123,957		59,195
Total assets less current liabilities		168,378		122,496
Creditors: amounts falling due after more than one year	8	-		(888	)
Net assets		168,378		121,608
Capital and reserves
Called up share capital		2		2
Profit and loss account		168,376		121,606
Shareholders funds		168,378		121,608

For the year ending

30 April 2018

, 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 year 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

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.

These

financial statements

were approved by the board of directors and authorised for issue on

17 December 2018

, and are signed on behalf of the board by:



Stephen Sharkey	Andrew Simmons
Director	Director

Company registration number:

04723724

A & S Contracting Services Limited

Notes to the Financial Statements

Year ended

30 April 2018

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is

80 Mattox Road

Wednesfield

Wolverhampton

West Midlands

WV11 3TQ

, United Kingdom.

2 Statement of compliance

These

financial statements

have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The

financial statements

have been prepared on the historical cost basis, as modified by the revaluation of certain assets.

The

financial statements

are prepared in sterling, which is the functional currency of the company.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods and services supplied, net of discounts and Value Added Tax.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant and machinery	25% reducing balance
Office equipment	25% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was

(2017:

5 Tangible assets

	Plant and machinery etc.
	£
Cost
At 1 May 2017	151,376
Disposals	(47,250	)
At 30 April 2018	104,126
Depreciation
At 1 May 2017	88,075
Charge	15,826
Disposals	(44,196	)
At 30 April 2018	59,705
Carrying amount
At 30 April 2018	44,421
At 30 April 2017	63,301

6 Debtors

	2018	2017
	£	£
Trade debtors	128,910	52,984
Other debtors	50,635	42,936
	179,545	95,920

7 Creditors: amounts falling due within one year

	2018	2017
	£	£
Trade creditors	830	12,180
Taxation and social security	69,157	29,053
Other creditors	8,092	17,401
	78,079	58,634

8 Creditors: amounts falling due after more than one year

	2018		2017
	£		£
Other creditors	-		888

9 Related party transactions

At 30 April 2018, the company owed £485 (2017: £8) to the company director, Stephen Sharkey. No interest is charged on the balance. The balance was cleared following the year end. The director received a dividend of £45,000 (2017: £40,000) during the financial year which was credited to the director’s current account.

At 30 April 2018, the company owed £3,570 (2017: £3,281) to the company director, Andrew Simmons. No interest is charged on the balance. The balance was cleared following the year end. The director received a dividend of £45,000 (2017: £40,000) during the financial year which was credited to the director’s current account.