A & S Trading Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04162579 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019

FOR

A & S TRADING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTOR:

Mrs A Benn

SECRETARY:

REGISTERED OFFICE:

Alpine Lodge

14 Colston lane

Harby

Melton Mowbray

Leicestershire

LE14 4BE

REGISTERED NUMBER:

04162579 (England and Wales)

ACCOUNTANTS:

J J Bright ACMA

Crabtree Farm

Tweed Rd

CLEVEDON

Somerset

BS21 6RR

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

8,243

9,399

8,243

9,399

CURRENT ASSETS

Stocks

6

12,000

26,000

Debtors

7

28

3,238

Cash at bank and in hand

1,424

704

13,452

29,942

CREDITORS

Amounts falling due within one year

8

50,629

30,830

NET CURRENT LIABILITIES

(37,177

)

(888

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(28,934

)

8,511

CREDITORS

Amounts falling due after more than one year

9

20,000

24,490

NET LIABILITIES

(48,934

)

(15,979

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(49,034

)

(16,079

)

SHAREHOLDERS' FUNDS

(48,934

)

(15,979

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 21 April 2020 and were signed by:

Mrs A Benn - Director

1.	STATUTORY INFORMATION

A & S Trading 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.

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.

Going concern

The financial statements have been prepared on a going concern basis. The director is constantly reviewing the

financial position of the company and continues to provide financial support when necessary.

Goodwill

Positive goodwill is capitalised, classed as an asset on the balance sheet and has been amortised on a straight

line basis over its economic life estimated to up to a maximum of 20 years.

This asset has now been written down to zero..

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2018 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2018

and 30 September 2019

75,000

AMORTISATION

At 1 October 2018

and 30 September 2019

75,000

NET BOOK VALUE

At 30 September 2019

-

At 30 September 2018

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 October 2018

and 30 September 2019

7,077

60,284

67,361

DEPRECIATION

At 1 October 2018

7,077

50,885

57,962

Charge for year

-

1,156

1,156

At 30 September 2019

7,077

52,041

59,118

NET BOOK VALUE

At 30 September 2019

-

8,243

8,243

At 30 September 2018

-

9,399

9,399

6.

STOCKS

2019

2018

£

£

Stocks

12,000

26,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

-

3,210

Prepayments

28

28

28

3,238

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

20,489

6,401

Trade creditors

21,397

12,467

MBNA card

-

220

M & S card

-

285

Barclay card

-

(1,042

)

Tax

-

3,984

Social security and other taxes

(605

)

(1,360

)

Wages Control

(648

)

(303

)

VAT

1,133

1,068

Other Creditors

144

145

Pension Fund Control

40

23

Directors' current accounts

479

992

Accrued expenses

8,200

7,950

50,629

30,830

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Directors' loan accounts

20,000

24,490

10.	LEASING AGREEMENTS

11.	RELATED PARTY DISCLOSURES

At 30 September 2019 an amount of £241.66 (2018 - £992.26) was due to Mrs A Benn by the company. The

loan incurs interest at 5% with no fixed date for repayment. Mrs A Benn is a director shareholder of the

company.

At 30 September 2019 an amount of £20,000 (£2018 - £24,490) was due by the company to Mrs Benn. The

loan has no fixed date for repayment and is incurring interest at 5% per annum.

12.	AMORTISATION / DEPRECIATION

Amortisation is provided on intangible fixed assets so as to write off the cost, less any residual value, over their

expected useful economic life as follows:

DEPRECIATION

Depreciation is provided on tangible assets so as to write off the cost or valuation, less any estimated residual

value, over their expected useful economic life as follows:

ASSET CLASS DEPRECIATION RATE

Plant and Machinery 15% reducing balance

Motor Vehicles 25% reducing balance

Leasehold improvements Over remaining life of the lease

13.

CONTROL

The company is controlled by the director who owns 100% of the called up share capital.

The following reproduces the text of the report prepared for the director 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 Director 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

accounts of A & S Trading Ltd for the year ended 30 September 2019 set out on pages 2 to 9 from the company's

accounting records and from information and explanations have given us. As a practising member of the Chartered

Institute of Management Accountants, I am subject to its ethical and other professional requirements.

This report is made solely to the Board of Directors of A & S Trading Ltd, as a body, in accordance with the terms of

my engagement letter. My work has been undertaken solely to prepare for your approval the accounts of A & S Trading

Ltd. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A & S

Trading Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that A & S Trading Limited has kept adequate accounting records and to prepare statutory

accounts that give a true and fair view of the assets, liabilities, financial position and loss of A & S Trading Ltd. You

consider that A & S trading 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 Accounts of A & S Trading 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 accounts.

J J Bright ACMA

Crabtree Farm

Tweed Rd

CLEVEDON

Somerset

BS21 6RR

22 April 2020