ASB (SERVICES) LIMITED Filleted accounts for Companies House (small and micro)

ASB (SERVICES) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 8805588

ASB (SERVICES) LIMITED

Filleted Unaudited Abridged Financial Statements

31 December 2018

ASB (SERVICES) LIMITED

Abridged Statement of Financial Position

31 December 2018

	2018	2017
Note	£	£

Fixed assets

Tangible assets	4	457,505	457,505

Current assets

Cash at bank and in hand	6,098	2,601

Creditors: amounts falling due within one year	499,659	509,447
	---------	---------
Net current liabilities	493,561	506,846
	---------	---------
Total assets less current liabilities	( 36,056)	( 49,341)
	---------	---------
Net liabilities	( 36,056)	( 49,341)
	---------	---------

Capital and reserves

Called up share capital	1	1
Profit and loss account	( 36,057)	( 49,342)
	---------	---------
Shareholders deficit	( 36,056)	( 49,341)
	---------	---------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.

For the year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 December 2018 in accordance with Section 444(2A) of the Companies Act 2006.

ASB (SERVICES) LIMITED

Abridged Statement of Financial Position (continued)

31 December 2018

These abridged financial statements were approved by the board of directors and authorised for issue on 25 April 2022 , and are signed on behalf of the board by:

Mr A S Basra
Director

Company registration number: 8805588

ASB (SERVICES) LIMITED

Notes to the Abridged Financial Statements

Year ended 31 December 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 29 Waterloo Road, Wolverhampton, WV1 4DJ.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

4. Tangible assets

	£
Cost
At 1 January 2018 and 31 December 2018	457,505
	---------
Depreciation
At 1 January 2018 and 31 December 2018	–
	---------
Carrying amount
At 31 December 2018	457,505
	---------
At 31 December 2017	457,505
	---------

5. Related party transactions

At the year end the company owed £496,359 (2017: £509,946) to related businesses.