Alpha Gems (UK) Limited - Limited company accounts 11.7

REGISTERED NUMBER: 02453589 (England and Wales)

REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2014

FOR

ALPHA GEMS (UK) LIMITED

Page

Company Information

1

Report of the Director

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTOR:

Mr R Haruni

REGISTERED OFFICE:

39 Greville Street

London

EC1N 8PJ

REGISTERED NUMBER:

02453589 (England and Wales)

ACCOUNTANTS:

NWN Blue Squared Ltd

Chartered Certified Accountants

7 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

The director presents his report with the financial statements of the company for the year ended 30 September 2014.

DIRECTOR

Mr R Haruni held office during the whole of the period from 1 October 2013 to the date of this report.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating

to small companies.

ON BEHALF OF THE BOARD:

Mr R Haruni - Director

26 June 2015

TURNOVER

88,727

187,458

Cost of sales

100,546

68,253

GROSS (LOSS)/PROFIT

(11,819

)

119,205

Administrative expenses

10,759

16,615

OPERATING (LOSS)/PROFIT

2

(22,578

)

102,590

Interest receivable and similar income

1

6

(22,577

)

102,596

Interest payable and similar charges

1,154

-

(LOSS)/PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION

(23,731

)

102,596

Tax on (loss)/profit on ordinary activities

3

-

1

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(23,731

)

102,595

Deficit brought forward

(201,189

)

(303,784

)

DEFICIT CARRIED FORWARD

(224,920

)

(201,189

)

FIXED ASSETS

Tangible assets

4

162

216

CURRENT ASSETS

Debtors

5

86,413

103,993

Cash at bank

64,479

81,945

150,892

185,938

CREDITORS

Amounts falling due within one year

6

362,102

387,243

NET CURRENT LIABILITIES

(211,210

)

(201,305

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(211,048

)

(201,089

)

CREDITORS

Amounts falling due after more than one
year

7

13,772

-

NET LIABILITIES

(224,820

)

(201,089

)

CAPITAL AND RESERVES

Called up share capital

8

100

Profit and loss account

(224,920

)

(201,189

)

SHAREHOLDERS' FUNDS

(224,820

)

(201,089

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the director on 26 June 2015 and were signed by:

Mr R Haruni - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of

exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the

transactions. All differences are taken to the Profit and Loss account.

2.	OPERATING (LOSS)/PROFIT

The operating loss (2013 - operating profit) is stated after charging:

2014

2013

£

Depreciation - owned assets

54

72

Foreign exchange differences

2,292

1,530

Director's remuneration and other benefits etc

-

3.

TAXATION

Analysis of the tax charge

The tax charge on the loss on ordinary activities for the year was as follows:

2014

2013

£

Current tax:

UK corporation tax

-

1

Tax on (loss)/profit on ordinary activities

-

1

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

COST

At 1 October 2013

and 30 September 2014

2,114

6,045

8,159

DEPRECIATION

At 1 October 2013

2,022

5,921

7,943

Charge for year

23

31

54

At 30 September 2014

2,045

5,952

7,997

NET BOOK VALUE

At 30 September 2014

69

93

162

At 30 September 2013

92

124

216

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2014

2013

£

Trade debtors

23,062

Amounts owed by participating interests

20,309

Other debtors

42,522

57,790

VAT

-

363

Prepayments

520

2,469

86,413

103,993

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2014

2013

£

Bank loans and overdrafts

3,058

18,735

Trade creditors

350,618

365,296

Amounts owed to participating interests

5,224

2,211

Tax

-

1

VAT

2,252

-

Accruals and deferred income

950

1,000

362,102

387,243

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2014

2013

£

Bank loans - 1-2 years

3,058

-

Bank loans - 2-5 years

10,714

-

13,772

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

100

ordinary

£1

100

9.	RELATED PARTY DISCLOSURES

International Gemstones Limited is a company with a common director and shareholder Mr R. Haruni. Haruni

Brothers Limited and Limecroft Haulage Limited have a common director Mr R. Haruni. Management fees to

and from related parties are made on an arms length basis.

During the year transactions with related parties as defined by FRS 8 were as follows:

Management fee receivable from Haruni Brothers Limited £Nil (2013 : £Nil) Limecroft Haulage Limited £Nil

(2013 : £Nil). These amounts are disclosed within sales.

Amounts included in the balance sheet in respect of amounts owing from related parties are as follows;

Haruni Brothers Limited £14,690. (2013 : £14,690).

Limecroft Haulage Limited £5,619 (2013 : £5,619)

Amounts included in the balance sheet in respect of amounts owing to related parties are as follows;

International Gemstones Limited £5,224 (2013 : £2,211).

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr R Haruni.