REGISTERED NUMBER: 01693551 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2017

FOR

A & S KNITWEAR LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

5

DIRECTORS:

Mr A K Sharma

Mrs S Sharma

SECRETARY:

Mr A K Sharma

REGISTERED OFFICE:

Hamilton House

315 St. Saviours Road

Leicester

Leicestershire

LE5 4HG

REGISTERED NUMBER:

01693551 (England and Wales)

ACCOUNTANTS:

K G Solanki & Co.

Hamilton House

315 St Saviours Road

Leicester

Leicestershire

LE5 4HG

FIXED ASSETS

Tangible assets

3

170,200

174,100

CURRENT ASSETS

Debtors

4

805

1,873

Cash at bank

86,329

54,226

87,134

56,099

CREDITORS

Amounts falling due within one year

5

34,428

29,258

NET CURRENT ASSETS

52,706

26,841

TOTAL ASSETS LESS CURRENT LIABILITIES

222,906

200,941

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

6

58,000

58,000

Retained earnings

164,806

142,841

SHAREHOLDERS' FUNDS

222,906

200,941

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 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 11 December 2017 and were signed on its behalf by:

Mr A K Sharma - Director

1.	STATUTORY INFORMATION

A & S Knitwear 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents rental income receivable during the period.

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.

3.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST OR VALUATION

At 1 July 2016

and 30 June 2017

295,000

DEPRECIATION

At 1 July 2016

120,900

Charge for year

3,900

At 30 June 2017

124,800

NET BOOK VALUE

At 30 June 2017

170,200

At 30 June 2016

174,100

Included in cost or valuation of land and buildings is freehold land of £ 100,000 (2016 - £ 100,000 ) which is not

depreciated.

Cost or valuation at 30 June 2017 is represented by:

Freehold

property

£

Valuation in 1995

58,000

Cost

237,000

295,000

If the freehold property had not been revalued it would have been included at the following historical cost:

2017

2016

£

£

Cost

237,000

237,000

Value of land in freehold land and buildings

100,000

100,000

Freehold land and buildings were valued on an open market basis on 11 August 1995 by Savills, Chartered Surveyors

.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

805

1,873

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

1,704

534

Trade creditors

10,503

11,690

Taxation and social security

6,366

2,614

Other creditors

15,855

14,420

34,428

29,258

6.

RESERVES

Revaluation

reserve

£

At 1 July 2016

and 30 June 2017

58,000

7.	CONTROLLING INTEREST

The company is under the control of directors and shareholders Mr A K Sharma and Mrs S D Sharma

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

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

financial statements of A & S Knitwear Limited for the year ended 30 June 2017 which comprise the Income Statement,

Balance Sheet and the related notes from the company's accounting records and from information and explanations you

have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of A & S Knitwear Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of A & S Knitwear Limited and state those matters that we have agreed to state to the Board of Directors of A & S Knitwear Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A & S Knitwear Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that A & S Knitwear 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 Knitwear Limited. You consider that A & S Knitwear Limited is exempt from the statutory audit requirement for the year.

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

K G Solanki & Co.

Hamilton House

315 St Saviours Road

Leicester

Leicestershire

LE5 4HG

11 December 2017