| REGISTERED NUMBER: |
| A & S Enterprises Limited |
| Abbreviated Unaudited Accounts for the Year Ended 31 May 2014 |
| REGISTERED NUMBER: |
| A & S Enterprises Limited |
| Abbreviated Unaudited Accounts for the Year Ended 31 May 2014 |
| A & S Enterprises Limited (Registered number: 04197444) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 31 May 2014 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| A & S Enterprises Limited |
| Company Information |
| for the Year Ended 31 May 2014 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| A & S Enterprises Limited (Registered number: 04197444) |
| Abbreviated Balance Sheet |
| 31 May 2014 |
| 2014 | 2013 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| Investments | 3 |
| Investment property | 4 |
| CURRENT ASSETS |
| Stocks | 60,149 |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 6 |
| Revaluation reserve | ( |
) |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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. |
| A & S Enterprises Limited (Registered number: 04197444) |
| Abbreviated Balance Sheet - continued |
| 31 May 2014 |
| The financial statements were approved by the Board of Directors on by: |
| A & S Enterprises Limited (Registered number: 04197444) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31 May 2014 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention as modified by the revaluation |
| of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April |
| 2008). |
| Turnover |
| Turnover represents the value of goods and services supplied by the company, net of value added tax and trade |
| discount. In respect of work in progress revenue is recognised within the accounts as contract activity progresses. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
| life. |
| Plant and machinery - 15% and 25% on reducing balance |
| Motor Vehicles - 25% on reducing balance |
| Investment property |
| In accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) no depreciation |
| is provided in respect of freehold properties held as investments. This is a departure from the requirements of the |
| Companies Act 2006 which requires all properties to be depreciated. Such properties are held for investment and |
| not for consumption and the directors consider that to depreciate them would not give a true and fair view. |
| Depreciation is only one of the many elements reflected in the annual valuation of properties and accordingly the |
| amount of depreciation which might otherwise have been charged cannot be separately identified or quantified. |
| The directors consider that this policy results in the financial statements giving a true and fair view. |
| Stocks |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
| balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
| the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| 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 the profit and loss account over the relevant period. The |
| capital element of the future payments is treated as a liability. |
| Pensions |
| The company operates a defined contribution scheme, and also makes contributions to a personal pension |
| scheme, of directors. Contributions payable for the year are charged in the profit and loss account. |
| Fixed asset investments are stated at cost less any permanent diminution in value. |
| A & S Enterprises Limited (Registered number: 04197444) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 May 2014 |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 June 2013 |
| Additions |
| Disposals | ( |
) |
| At 31 May 2014 |
| DEPRECIATION |
| At 1 June 2013 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 May 2014 |
| NET BOOK VALUE |
| At 31 May 2014 |
| At 31 May 2013 |
| 3. | FIXED ASSET INVESTMENTS |
| Investments (neither listed nor unlisted) were as follows: |
| 2014 | 2013 |
| £ | £ |
| Racehorses | 60,628 | 60,628 |
| Land options | 5,633 | 5,633 |
| Wine | - | 154,850 |
| The racehorses were valued on an open market basis at 31 May 2014 by the directors at £70,628, but disclosed |
| in the accounts at their original cost of £60,628. |
| The land options were valued on an open market basis at 31 May 2014 by the directors at £7,345, but disclosed |
| in the accounts at their original cost of £5,633. |
| The directors have decided to dispose of the wine rather than hold it as a long term investment. Accordingly, the |
| resale value of £110,000 has been transferred to Stock and the balance written off to Reserves. |
| A & S Enterprises Limited (Registered number: 04197444) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 May 2014 |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| COST OR VALUATION |
| At 1 June 2013 |
| Revaluations |
| At 31 May 2014 |
| NET BOOK VALUE |
| At 31 May 2014 |
| At 31 May 2013 |
| 5. | CREDITORS |
| Creditors include an amount of £ |
| 6. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2014 | 2013 |
| value: | £ | £ |
| Ordinary | £1 |