A_&_S_ENTERPRISES_(HOLDIN - Accounts


Company Registration No. 09459596 (England and Wales)
A & S ENTERPRISES (HOLDINGS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2018
PAGES FOR FILING WITH REGISTRAR
A & S ENTERPRISES (HOLDINGS) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
A & S ENTERPRISES (HOLDINGS) LIMITED
BALANCE SHEET
AS AT
31 MAY 2018
31 May 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
3
121,875
166,875
Investment properties
4
438,000
438,000
Investments
5
1,000
1,000
560,875
605,875
Current assets
Cash at bank and in hand
11
76
Creditors: amounts falling due within one year
(412,613)
(356,171)
Net current liabilities
(412,602)
(356,095)
Total assets less current liabilities
148,273
249,780
Creditors: amounts falling due after more than one year
-
(49,985)
Provisions for liabilities
-
(250)
Net assets
148,273
199,545
Capital and reserves
Called up share capital
7
1,000
1,000
Revaluation reserve
8
19,263
19,263
Profit and loss reserves
128,010
179,282
Total equity
148,273
199,545

In accordance with section 444 of the Companies Act 2006 all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (S.I. 2008/409)(b).

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

A & S ENTERPRISES (HOLDINGS) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MAY 2018
31 May 2018
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 7 February 2019 and are signed on its behalf by:
A P Sulin
Director
Company Registration No. 09459596
A & S ENTERPRISES (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2018
- 3 -
1
Accounting policies
Company information

A & S Enterprises (Holdings) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1st Floor Gibraltar House, Crown Square, First Avenue, Burton on Trent, Staffordshire, DE14 2WE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

 

1.2
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Motor vehicles
25% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.3
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

 

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A & S ENTERPRISES (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2018
1
Accounting policies
(Continued)
- 4 -

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

A & S ENTERPRISES (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2018
1
Accounting policies
(Continued)
- 5 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 3 (2017 - 3).

A & S ENTERPRISES (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2018
- 6 -
3
Tangible fixed assets
Motor vehicles
£
Cost
At 1 June 2017 and 31 May 2018
180,000
Depreciation and impairment
At 1 June 2017
13,125
Depreciation charged in the year
45,000
At 31 May 2018
58,125
Carrying amount
At 31 May 2018
121,875
At 31 May 2017
166,875
4
Investment property
2018
£
Fair value
At 1 June 2017 and 31 May 2018
438,000

Investment property comprises Flat 1&2, 200 Derby Road, Burton on Trent and 3 Yoxall Road, Newborough, Burton on Trent.

 

The fair value of the investment property has been arrived at on basis of a valuation carried out by the directors.

 

5
Fixed asset investments
2018
2017
£
£
Investments
1,000
1,000
Fixed asset investments not carried at market value

Investments are not listed and are held at cost less impairment as fair value cannot be reliably determined

6
Subsidiaries

Details of the company's subsidiaries at 31 May 2018 are as follows:

Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Indirect
A & S Enterprises Limited
England
Construction and building services
Ordinary
100.00
A & S ENTERPRISES (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2018
6
Subsidiaries
(Continued)
- 7 -
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Profit/(Loss)
Capital and Reserves
£
£
A & S Enterprises Limited
77,973
1,267,152
7
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
1,000Ordinary shares of £1 each
1,000
1,000
1,000
1,000
8
Revaluation reserve
2018
2017
£
£
At beginning and end of year
19,263
19,263
9
Financial commitments, guarantees and contingent liabilities

There is a fixed and floating charge over the property and undertakings of the company.

2018-05-312017-06-01falseCCH SoftwareCCH Accounts Production 2018.300No description of principal activity08 February 2019J D SulinA P SulinA K Sulin094595962017-06-012018-05-31094595962018-05-31094595962017-05-3109459596core:MotorVehicles2018-05-3109459596core:MotorVehicles2017-05-3109459596core:CurrentFinancialInstruments2018-05-3109459596core:CurrentFinancialInstruments2017-05-3109459596core:Non-currentFinancialInstruments2017-05-3109459596core:ShareCapital2018-05-3109459596core:ShareCapital2017-05-3109459596core:RevaluationReserve2018-05-3109459596core:RevaluationReserve2017-05-3109459596core:RetainedEarningsAccumulatedLosses2018-05-3109459596core:RetainedEarningsAccumulatedLosses2017-05-3109459596core:ShareCapitalOrdinaryShares2018-05-3109459596core:ShareCapitalOrdinaryShares2017-05-3109459596bus:Director22017-06-012018-05-3109459596core:MotorVehicles2017-06-012018-05-3109459596core:MotorVehicles2017-05-3109459596core:Subsidiary12017-06-012018-05-3109459596core:Subsidiary112017-06-012018-05-3109459596core:Subsidiary122017-06-012018-05-3109459596bus:OrdinaryShareClass12017-06-012018-05-3109459596bus:OrdinaryShareClass12018-05-3109459596bus:PrivateLimitedCompanyLtd2017-06-012018-05-3109459596bus:FRS1022017-06-012018-05-3109459596bus:AuditExemptWithAccountantsReport2017-06-012018-05-3109459596bus:SmallCompaniesRegimeForAccounts2017-06-012018-05-3109459596bus:Director12017-06-012018-05-3109459596bus:Director32017-06-012018-05-3109459596bus:FullAccounts2017-06-012018-05-31xbrli:purexbrli:sharesiso4217:GBP