Company Registration No. 06492484 (England and Wales)
A & S AUTO SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
PAGES FOR FILING WITH REGISTRAR
A & S AUTO SERVICES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
A & S AUTO SERVICES LIMITED (REGISTERED NUMBER: 06492484)
BALANCE SHEET
AS AT
31 MARCH 2018
31 March 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,238
1,338
Current assets
Stocks
2,000
2,000
Debtors
4
23,434
17,241
Cash at bank and in hand
1,007
367
26,441
19,608
Creditors: amounts falling due within one year
5
(28,619)
(19,811)
Net current liabilities
(2,178)
(203)
Total assets less current liabilities
1,060
1,135
Capital and reserves
Called up share capital
6
1,000
1,000
Profit and loss reserves
60
135
Total equity
1,060
1,135

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 2018 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 Companies Act 2006 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.

The financial statements were approved by the board of directors and authorised for issue on 14 December 2018 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 2018
- 2 -
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.

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.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 2 (2017 - 2).

A & S AUTO SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
- 3 -
3
Tangible fixed assets
Plant and machinery
Computer equipment
Total
£
£
£
Cost
At 1 April 2017
11,255
140
11,395
Additions
3,024
-
3,024
At 31 March 2018
14,279
140
14,419
Depreciation and impairment
At 1 April 2017
9,962
93
10,055
Depreciation charged in the year
1,079
47
1,126
At 31 March 2018
11,041
140
11,181
Carrying amount
At 31 March 2018
3,238
-
3,238
At 31 March 2017
1,292
46
1,338
4
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
3,900
2,156
Corporation tax recoverable
4,702
321
Other debtors
14,832
14,764
23,434
17,241
5
Creditors: amounts falling due within one year
2018
2017
£
£
Bank loans and overdrafts
7,857
4,318
Trade creditors
2,948
2,935
Corporation tax
12,174
7,352
Other taxation and social security
3,974
3,128
Other creditors
1,666
2,078
28,619
19,811
A & S AUTO SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
- 4 -
6
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
1,000 Ordinary of £1 each
1,000
1,000
1,000
1,000
7
Directors' transactions

As at the balance sheet date, the company was owed £14,832 by the director S Harper, this balance is included in other debtors.

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