REGISTERED NUMBER: 04059594 (England and Wales)

A & S CARPETS LIMITED

Unaudited Financial Statements

for the Year Ended 31 December 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C Dugdale

A Wilson

J N Inman

REGISTERED OFFICE:

1 Park View Court

St Paul's Road

Shipley

West Yorkshire

BD18 3DZ

REGISTERED NUMBER:

04059594 (England and Wales)

ACCOUNTANTS:

Maclean & Company

1 Park View Court

St Paul's Road

Shipley

West Yorkshire

BD18 3DZ

FIXED ASSETS

Tangible assets

4

24,099

11,140

CURRENT ASSETS

Stocks

18,635

29,240

Debtors

5

9,873

23,525

Cash at bank and in hand

58,400

58,667

86,908

111,432

CREDITORS

Amounts falling due within one year

6

70,699

93,911

NET CURRENT ASSETS

16,209

17,521

TOTAL ASSETS LESS CURRENT LIABILITIES

40,308

28,661

CREDITORS

Amounts falling due after more than one year

7

8,750

-

NET ASSETS

31,558

28,661

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

31,458

28,561

SHAREHOLDERS' FUNDS

31,558

28,661

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 27 March 2019 and were signed on its behalf by:

C Dugdale - Director

J N Inman - Director

1.	STATUTORY INFORMATION

A & S CARPETS 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2018

34,398

16,938

14,881

66,217

Additions

1,840

18,700

350

20,890

Disposals

-

(11,738

)

-

(11,738

)

At 31 December 2018

36,238

23,900

15,231

75,369

DEPRECIATION

At 1 January 2018

26,160

14,118

14,799

55,077

Charge for year

1,512

5,086

158

6,756

Eliminated on disposal

-

(10,563

)

-

(10,563

)

At 31 December 2018

27,672

8,641

14,957

51,270

NET BOOK VALUE

At 31 December 2018

8,566

15,259

274

24,099

At 31 December 2017

8,238

2,820

82

11,140

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

Additions

18,700

At 31 December 2018

18,700

DEPRECIATION

Charge for year

4,675

At 31 December 2018

4,675

NET BOOK VALUE

At 31 December 2018

14,025

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

8,436

23,525

Other debtors

1,437

-

9,873

23,525

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Hire purchase contracts

3,500

-

Trade creditors

54,019

37,862

Taxation

3,370

8,287

Other creditors

9,810

47,762

70,699

93,911

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.18

31.12.17

£

£

Hire purchase contracts

8,750

-