Indorama International Finance Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01826640

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

INDORAMA INTERNATIONAL FINANCE LIMITED

Page

Company Information

1

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

A Aggarwal

K K Aggarwal

REGISTERED OFFICE:

6th Floor

86 Jermyn Street

London

SW1Y 6JD

REGISTERED NUMBER:

01826640

ACCOUNTANTS:

Amchins

Chartered Accountants

Amchins Limited

23 Northiam

Woodside Park

London

N12 7ET

The directors present their strategic report for the year ended 31 December 2018.

REVIEW OF BUSINESS AND FUTURE DEVELOPMENTS

The company is successfully managing businesses in manufacturing, general, trading and investment in shares of other

companies.

PRINCIPAL RISKS AND UNCERTAINTIES

a) Credit Risk - Credit risk refers to risk that counterparty will default on their obligations to repay amounts owing to he

group resulting in a loss to the group. The carrying amount of cash and cash equivalents, trade and other receivables

represents the Company's maximum exposure to credit risk in relation to financial assets.

b) Foreign Currency Risk - Foreign exchange risk arose from the change in foreign exchange rates that may have an

adverse effect on the group in the current reporting period and in the future years.

The group does not have any significant foreign currency risk as the majority of the transactions were U.S. Dollar based.

c) Liquidity Risk - Liquidity risk refer to risk that the group will not have sufficient funds to pay its debts as and when

they fall due.

In the management of its liquidity risk, the group monitors and maintains a level of cash and cash equivalents deemed

adequate by the management to finance the group's operations and mitigate the effects of fluctuations in cash flow.

INVESTMENTS

As at 31 December 2018, the Company has effective equity interest in the following companies:

Name

Holding

PT Irama Unggul ("IU")

99.99%

RESULTS AND DIVIDEND

The company paid NIL dividend for the year ended 31 December 2018 (2017: NIL).

The profit/(loss) for the year of US$ (6,505), (2017: Loss US$ 1,687) has been adjusted in retained profits.

ON BEHALF OF THE BOARD:

K K Aggarwal - Director

24 September 2019

FIXED ASSETS

Investments

4

6,005,235

6,487,269

CURRENT ASSETS

Debtors

5

-

1,000,000

Cash at bank

1,600,674

156,773

1,600,674

1,156,773

CREDITORS

Amounts falling due within one year

6

(5,355

)

(36,983

)

NET CURRENT ASSETS

1,595,319

1,119,790

TOTAL ASSETS LESS CURRENT LIABILITIES

7,600,554

7,607,059

CAPITAL AND RESERVES

Called up share capital

7

7,633,821

7,633,821

Retained earnings

8

(33,267

)

(26,762

)

SHAREHOLDERS' FUNDS

7,600,554

7,607,059

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 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 applicable to companies subject to the small companies regime.

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 24 September 2019 and were signed on its behalf by:

A Aggarwal - Director

K K Aggarwal - Director

1.	STATUTORY INFORMATION

Indorama International Finance Limited is a private company, limited by shares , registered in Not

specified/Other. 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 US Dollar ($).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared under the historical cost convention and prepared in US Dollar ($) ,

which is the functional currency of the company. Monetary amounts in these financial statements are rounded to

the nearest $.

The financial statements of Indorama International Finance Limited are prepared in accordance with FRS 102,

The Financial Reporting Standard applicable in the UK and Republic of Ireland.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investments held as fixed assets are stated at cost less any amounts written off for permanent diminution in the

value of these investments. Any dividends received from investments are included in the profit and loss account.

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - NIL).

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

$

COST

At 1 January 2018

6,487,269

Reduction of share capital

(482,034

)

At 31 December 2018

6,005,235

NET BOOK VALUE

At 31 December 2018

6,005,235

At 31 December 2017

6,487,269

The company's investments at the Balance Sheet date in the share capital of companies include the following:

PT. Irama Unggal

Registered office: Indonesia

Nature of business: Land and property investments

%

Class of shares:

holding

Ordinary USD

99.99

2018

2017

$

$

Aggregate capital and reserves

10,475,738

11,163,681

(Loss)/profit for the year

(199,634

)

638,200

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

$

$

Amounts owed by associates

-

1,000,000

Amounts owed by group undertakings and associates are unsecured, interest free, have no fixed date of

repayment and are repayable on demand.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

$

$

Trade creditors

(1

)

-

Other creditors

5,356

36,983

5,355

36,983

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

$

$

4,740,000

ORDINARY

£1

7,633,821

7,633,821

8.

RESERVES

Retained

earnings

$

At 1 January 2018

(26,762

)

Deficit for the year

(6,505

)

At 31 December 2018

(33,267

)

9.	POST BALANCE SHEET EVENTS

The company reduced the share capital on 14 January 2019 by cancelling 970,000 issued ordinary shares of £1

each (equivalent US$ 1,562,195).