Abbreviated Company Accounts - I L HOLDINGS LIMITED

I L HOLDINGS LIMITED - Company Information

05882002 I L HOLDINGS LIMITED 2014-10-31 false 2013-11-01 2014-10-31 true 05882002 2013-11-01 2014-10-31 05882002 2014-10-31 05882002 2013-10-31 05882002 uk-gaap-cd-bus:Director1 2013-11-01 2014-10-31 05882002 uk-gaap-cd-bus:Director2 2013-11-01 2014-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-11-01 2014-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-10-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-10-31 iso4217:GBP shares

Registered Number 05882002

I L HOLDINGS LIMITED

Abbreviated Accounts

31 October 2014

I L HOLDINGS LIMITED Registered Number 05882002

Abbreviated Balance Sheet as at 31 October 2014

	Notes	2014	2013
		£	£
Fixed assets
Intangible assets	2	3,624	16,524
Investments	3	4,915,005	3,496,150
		4,918,629	3,512,674
Current assets
Debtors		1,685,262	849,034
Investments		-	666,715
Cash at bank and in hand		1,078,735	703,459
		2,763,997	2,219,208
Creditors: amounts falling due within one year		(1,404,370)	(1,290,107)
Net current assets (liabilities)		1,359,627	929,101
Total assets less current liabilities		6,278,256	4,441,775
Total net assets (liabilities)		6,278,256	4,441,775
Capital and reserves
Called up share capital	4	10,012	10,012
Other reserves		2,966	(599,912)
Profit and loss account		6,265,278	5,031,675
Shareholders' funds		6,278,256	4,441,775

For the year ending 31 October 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 22 July 2015

And signed on their behalf by:
Mr A Levitan, Director

I L HOLDINGS LIMITED Registered Number 05882002

Notes to the Abbreviated Accounts for the period ended 31 October 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the year.
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Other accounting policies
Consolidation
In the opinion of the director, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.

Fixed assets
All fixed assets are initially recorded at cost.

Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings - 25% reducing balance

Investment properties
Certain of the company's properties are held for long term investment. Investment properties are accounted for in accordance with SSAP 19 as follows:
(i) Investment properties are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the period; and
(ii) no depreciation is provided in respect of leasehold investment properties where the lease has over 20 years to run.
Although the Companies Act would normally require the systematic annual depreciation of fixed assets, the directors believe that the policy of not providing depreciation is necessary in order for the financial statements to give a true and fair view, since the current value of investment properties, and changes to that current value, are of prime importance rather than an a calculation of systematic annual depreciation. Depreciation is only one of many factors reflected in the annual valuation, and the amount which might otherwise have been included cannot be separately identified or quantified.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

FIXED ASSETS
The company owns 100% of the issued share capital of the companies listed below:
Aggregate capital and reserves
I Levitan Services Limited: (2014) 221,359 - (2013) 221,239
Whalebone Lane Limited: (2014) 263 - (2013) 372
Mawney Lane (DS) Limited: (2014) 154 - (2013) 295
Gale Street limited: (2014) 16 - (2013) 205
Orchard Road (DS) Limited: (2014) 107 - (2013) 677

Profit for the year
I Levitan Services Limited: (2014) 261,926 - (2013) 181,445
Whalebone Lane Limited: (2014) 249,571 - (2013) 249,918
Mawney Road (DS) Limited: (2014) 249,810 - (2013) 248,520
Gale Street Limited: (2014) 249,518 - (2013) 178,500
Orchard Road (DS) Limited: (2014) 249,480 - (2013) 248,918

The company also owns 100% of the share capital of 170 North Street Limited, which is registered in England and Wales. The company was dormant during the year ended 31 October 2014.
The director has reviewed the valuation of the company's investment properties and considers that their carrying values accurately reflect their market values at the balance sheet date.

2Intangible fixed assets

	£
Cost
At 1 November 2013	92,117
Additions	-
Disposals	(64,967)
Revaluations	-
Transfers	-
At 31 October 2014	27,150
Amortisation
At 1 November 2013	75,593
Charge for the year	1,208
On disposals	(53,275)
At 31 October 2014	23,526
Net book values
At 31 October 2014	3,624
At 31 October 2013	16,524

3Fixed assets Investments
COST OR VALUATION
At 1 November 2013: 3,496,150
Additions: 815,977
Disposals: –
Revaluation: 602,878
-------------------------------
At 31 October 2014: 4,915,005
===============================
DEPRECIATION
At 1 November 2013: –
Charge for year: –
On disposals: –
-------------------------------
At 31 October 2014: –
===============================
NET BOOK VALUE
At 31 October 2014: 4,915,005
==========================
At 31 October 2013: 3,496,150
===============================

4Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
10,012 Ordinary shares of £1 each	10,012	10,012