A&S PROPERTIES LIMITED - Filleted accounts

A&S PROPERTIES LIMITED
Registered number:		02130624
Balance Sheet
as at 31 March 2018

Notes			2018			2017
£				£
Fixed assets
Tangible assets	2		3,640,876			3,642,886

Current assets
Debtors	3	2,424			2,424
Cash at bank and in hand		59,132			31,355
		61,556			33,779

Creditors: amounts falling due within one year	4	(22,620)			(3,308,369)

Net current assets/(liabilities)			38,936			(3,274,590)

Total assets less current liabilities			3,679,812			368,296

Creditors: amounts falling due after more than one year	5		(3,287,500)			-



Net assets			392,312			368,296

Capital and reserves
Called up share capital			90			90
Revaluation reserve	7		359,000			359,000
Profit and loss account			33,222			9,206

Shareholders' funds			392,312			368,296

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr Ian Selby
Director
Approved by the board on 24 September 2018

A&S PROPERTIES LIMITED
Notes to the Accounts
for the year ended 31 March 2018


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset by the reducing balance method as follows:

	Freehold buildings			Not provided
	Leasehold land and buildings			over the lease term if less than 20 years
	Motor vehciles			25%
	Fixtures, fittings, tools and equipment			25%

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.


2	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 April 2017	4,240,515		41,309		7,000		4,288,824
	At 31 March 2018	4,240,515		41,309		7,000		4,288,824

	Depreciation
	At 1 April 2017	605,000		35,979		4,959		645,938
	Charge for the year	-		1,500		510		2,010
	At 31 March 2018	605,000		37,479		5,469		647,948

	Net book value
	At 31 March 2018	3,635,515		3,830		1,531		3,640,876
	At 31 March 2017	3,635,515		5,330		2,041		3,642,886





3	Debtors					2018		2017
£							£

	Other debtors					2,424		2,424


4	Creditors: amounts falling due within one year					2018		2017
£							£

	Bank loans and overdrafts					-		3,287,500
	Trade creditors					106		106
	Corporation tax					12,675		10,924
	Other taxes and social security costs					750		750
	Other creditors					9,089		9,089
						22,620		3,308,369


5	Creditors: amounts falling due after one year					2018		2017
£							£

	Bank loans					3,287,500		-


6	Loans					2018		2017
£							£
	Creditors include:

	Secured bank loans					3,287,500		3,287,500

	The bank loans are secured by a debenture over the whole of the company and charges on the company's properties.


7	Revaluation reserve					2018		2017
£							£

	At 1 April 2017					359,000		359,000

	At 31 March 2018					359,000		359,000


8	Other information

	A&S PROPERTIES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
	Red Lion House
	6 Sheep Street
	Highworth
	Wiltshire
	SN6 7AA