Company Registration No. 08766922 (England and Wales)
A & S CONSULTANCY AND TRAINING LTD
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2019
PAGES FOR FILING WITH REGISTRAR
A & S CONSULTANCY AND TRAINING LTD
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
A & S CONSULTANCY AND TRAINING LTD
STATEMENT OF FINANCIAL POSITION
AS AT
30 NOVEMBER 2019
30 November 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,789
2,236
Current assets
Debtors
4
2,012
1,832
Cash at bank and in hand
4,015
1,946
6,027
3,778
Creditors: amounts falling due within one year
5
(102,222)
(81,266)
Net current liabilities
(96,195)
(77,488)
Total assets less current liabilities
(94,406)
(75,252)
Capital and reserves
Called up share capital
6
10
10
Profit and loss reserves
(94,416)
(75,262)
Total equity
(94,406)
(75,252)

The directors of the company have elected not to include a copy of the income statement within the financial statements. true

For the financial year ended 30 November 2019 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.

T he 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.

The financial statements were approved by the board of directors and authorised for issue on 12 August 2020 and are signed on its behalf by:
Mr S Jamieson
Director
Company Registration No. 08766922
A & S CONSULTANCY AND TRAINING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2019
- 2 -
1
Accounting policies
Company information

A & S Consultancy and Training Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Swinford House, Albion Street, Brierley Hill, West Midlands, DY5 3EE.

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 a mounts 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.

1.2
Going concern

The accounts have been prepared on a going concern basis. At the balance sheet date the amounts due to the directors amounted to £101,083. In the directors opinion this support will be ongoing therefore it is appropriate to prepare the account on a going concern basis. true

1.3
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:

Fixtures, fittings & equipment
20% reducing balance basis

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 .

1.4
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.

A & S CONSULTANCY AND TRAINING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2019
1
Accounting policies
(Continued)
- 3 -

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.

1.5
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.

1.6
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 statement of financial position 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.

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 paymen ts 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. A m ounts 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.

A & S CONSULTANCY AND TRAINING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2019
1
Accounting policies
(Continued)
- 4 -
1.7
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.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 0 (2018 - 2).

3
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 December 2018 and 30 November 2019
3,992
Depreciation and impairment
At 1 December 2018
1,756
Depreciation charged in the year
447
At 30 November 2019
2,203
Carrying amount
At 30 November 2019
1,789
At 30 November 2018
2,236
4
Debtors
2019
2018
Amounts falling due within one year:
£
£
Other debtors
2,012
1,832
A & S CONSULTANCY AND TRAINING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2019
- 5 -
5
Creditors: amounts falling due within one year
2019
2018
£
£
Other creditors
101,083
80,079
Accruals and deferred income
1,139
1,187
102,222
81,266
6
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
10 Ordinary of £1 each
10
10
10
10
2019-11-30 2018-12-01 false 12 August 2020 CCH Software CCH Accounts Production 2020.200 No description of principal activity Mr S Jamieson Mrs A Jamieson 08766922 2018-12-01 2019-11-30 08766922 2019-11-30 08766922 2018-11-30 08766922 core:FurnitureFittings 2019-11-30 08766922 core:FurnitureFittings 2018-11-30 08766922 core:CurrentFinancialInstruments 2019-11-30 08766922 core:CurrentFinancialInstruments 2018-11-30 08766922 core:ShareCapital 2019-11-30 08766922 core:ShareCapital 2018-11-30 08766922 core:RetainedEarningsAccumulatedLosses 2019-11-30 08766922 core:RetainedEarningsAccumulatedLosses 2018-11-30 08766922 core:ShareCapitalOrdinaryShares 2019-11-30 08766922 core:ShareCapitalOrdinaryShares 2018-11-30 08766922 bus:Director1 2018-12-01 2019-11-30 08766922 core:FurnitureFittings 2018-12-01 2019-11-30 08766922 core:FurnitureFittings 2018-11-30 08766922 bus:OrdinaryShareClass1 2018-12-01 2019-11-30 08766922 bus:OrdinaryShareClass1 2019-11-30 08766922 bus:PrivateLimitedCompanyLtd 2018-12-01 2019-11-30 08766922 bus:SmallCompaniesRegimeForAccounts 2018-12-01 2019-11-30 08766922 bus:FRS102 2018-12-01 2019-11-30 08766922 bus:AuditExemptWithAccountantsReport 2018-12-01 2019-11-30 08766922 bus:Director2 2018-12-01 2019-11-30 08766922 bus:FullAccounts 2018-12-01 2019-11-30 xbrli:pure xbrli:shares iso4217:GBP