A S Ventures Limited Small abridged accounts
A S Ventures Limited Small abridged accounts
Statement of Consent to Prepare Abridged Financial Statements |
COMPANY REGISTRATION NUMBER:
05229300
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Abridged Financial Statements |
Year ended 30 September 2017
Contents |
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Accountants report to the director on the preparation of the unaudited statutory abridged financial statements |
1 |
Statement of income and retained earnings |
0 |
Abridged statement of financial position |
2 |
Notes to the abridged financial statements |
4 |
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Accountants Report to the Director on the Preparation of the Unaudited Statutory Abridged Financial Statements of
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Year ended 30 September 2017
107 High Mount Street
Hednesford
Cannock
Staffs
WS12 4BN
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Abridged Statement of Financial Position |
2017 |
2016 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
4 |
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Current assets
Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
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Net current liabilities |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
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Net assets |
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Capital and reserves
Called up share capital |
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Profit and loss account |
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Members funds |
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In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
Director's responsibilities:
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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
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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
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Abridged Statement of Financial Position (continued) |
These abridged financial statements were approved by the
board of directors
and authorised for issue on
15 February 2018
, and are signed on behalf of the board by:
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Director |
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Company registration number:
05229300
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Notes to the Abridged Financial Statements |
Year ended 30 September 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 107 High Mount Street, Hednesford, Cannock, Staffs, WS12 4BN.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 October 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 6.
Revenue recognition
Income tax
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery |
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Motor Vehicles |
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Equipment |
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
4.
Tangible assets
£ |
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Cost |
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At 1 October 2016 and 30 September 2017 |
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Depreciation |
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At 1 October 2016 |
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Charge for the year |
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At 30 September 2017 |
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Carrying amount |
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At 30 September 2017 |
14,838 |
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At 30 September 2016 |
20,969 |
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5.
Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting FRS102.
6.
Transition to FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 October 2015.
No transitional adjustments were required in equity or profit or loss for the year.