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

REGISTERED NUMBER: 08522138 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2017

for

A & S Equity Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

A Mahal

Mrs S Mahal

REGISTERED OFFICE:

18 St Christopher's Way

Pride Park

Derby

DE24 8JY

BUSINESS ADDRESS:

6 Beechcroft Grange

Stafford

Staffordshire

ST16 1BD

REGISTERED NUMBER:

08522138 (England and Wales)

ACCOUNTANTS:

HSKS Greenhalgh

Chartered Accountants

18 St Christopher's Way

Pride Park

Derby

DE24 8JY

FIXED ASSETS

Tangible assets

3

315

382

Investment property

4

788,209

643,830

788,524

644,212

CURRENT ASSETS

Debtors

3,498

4,456

Cash at bank

5

12

3,503

4,468

CREDITORS

Amounts falling due within one year

576,804

452,453

NET CURRENT LIABILITIES

(573,301

)

(447,985

)

TOTAL ASSETS LESS CURRENT LIABILITIES

215,223

196,227

CREDITORS

Amounts falling due after more than one year

5

(180,466

)

(186,937

)

PROVISIONS FOR LIABILITIES

(28

)

(35

)

NET ASSETS

34,729

9,255

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

34,629

9,155

SHAREHOLDERS' FUNDS

34,729

9,255

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 27 September 2018 and were signed on its behalf by:

A Mahal - Director

1.	STATUTORY INFORMATION

A & S Equity 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The balance sheet details net current liabilities of £572,790 (2016: £447,985). The directors believe

that the company has adequate cash resources to finance its trading and other obligations during the

course of the twelve months from the balance sheet sign off date. The directors consider it appropriate

to prepare the financial statements on a going concern basis.

Turnover

Turnover represents rental income for the year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from

changes in fair value is recognised in profit or loss.

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

Totals

£

COST

At 1 January 2017

772

Additions

220

Disposals

(103

)

At 31 December 2017

889

DEPRECIATION

At 1 January 2017

390

Charge for year

218

Eliminated on disposal

(34

)

At 31 December 2017

574

NET BOOK VALUE

At 31 December 2017

315

At 31 December 2016

382

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2017

643,830

Additions

144,379

At 31 December 2017

788,209

NET BOOK VALUE

At 31 December 2017

788,209

At 31 December 2016

643,830

Investment properties were valued at the year end by the directors who believe the value in the

financial statements to be a fair reflection of the market value of the properties.

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2017

2016

£

£

Repayable by instalments

Bank loans more than 5 years

by instalments

158,740

167,302

158,740

167,302

6.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

185,294

191,300

The bank loans are respectively secured on the properties at 92 Church Road, Erdington, Birmingham

and 5 Marsh House, Marsh Street, Stafford.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

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 Equity Limited for the year ended 31 December 2017 which comprise the

Income Statement, Abridged 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 Equity Limited, as a body, in accordance with the terms of our engagement letter dated 25 September 2017. Our work has been undertaken solely to prepare for your approval the financial statements of A & S Equity Limited and state those matters that we have agreed to state to the Board of Directors of A & S Equity 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 Equity 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 Equity 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 Equity Limited. You consider that A & S Equity 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 Equity 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.

HSKS Greenhalgh

Chartered Accountants

18 St Christopher's Way

Pride Park

Derby

DE24 8JY

27 September 2018