Ali & Sons Holding Ltd - Period Ending 2015-06-30

Registration number: SC363948

Ali & Sons Holding Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2015
 

Shaun Hendry Accountancy Ltd
Chartered Certified Accountant
Unit 13C2
Balmakeith Industrial Estate
Nairn
Highland
IV12 5QW

Ali & Sons Holding Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 6

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 6) have been prepared.

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Ali & Sons Holding Ltd
for the Year Ended 30 June 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ali & Sons Holding Ltd for the year ended 30 June 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Ali & Sons Holding Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Ali & Sons Holding Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www2.accaglobal.com/pubs/members/publications/technical_factsheets/downloads/163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ali & Sons Holding Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Ali & Sons Holding Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Ali & Sons Holding Ltd. You consider that Ali & Sons Holding Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Ali & Sons Holding Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Shaun Hendry Accountancy Ltd
Chartered Certified Accountant
Unit 13C2
Balmakeith Industrial Estate
Nairn
Highland
IV12 5QW

27 June 2016

Page 1

Ali & Sons Holding Ltd
(Registration number: SC363948)
Abbreviated Balance Sheet at 30 June 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					2,066,758			2,039,376
Investments					30,000			30,000
					2,096,758			2,069,376
Current assets
Debtors					17,798			17,580
Cash at bank and in hand					1,771			-
					19,569			17,580
Creditors: Amounts falling due within one year					(461,041)			(618,114)
Net current liabilities					(441,472)			(600,534)
Total assets less current liabilities					1,655,286			1,468,842
Creditors: Amounts falling due after more than one year					(797,463)			(680,766)
Provisions for liabilities					(9,169)			(9,169)
Net assets					848,654			778,907
Capital and reserves
Called up share capital		4			250,000			250,000
Revaluation reserve					419,133			419,133
Profit and loss account					179,521			109,774
Shareholders' funds					848,654			778,907

For the year ending 30 June 2015 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 27 June 2016 and signed on its behalf by:

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 2

Ali & Sons Holding Ltd
(Registration number: SC363948)
Abbreviated Balance Sheet at 30 June 2015
......... continued

.........................................
Mohamed Monwar Ali
Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 3

Ali & Sons Holding Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 June 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of rental income, and sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Tenants Improvements	10% on cost
Plant and equipment	15% on cost

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they 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 year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Page 4

Ali & Sons Holding Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 June 2015
......... continued

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 July 2014		2,076,059			30,000			2,106,059
Additions		38,959			-			38,959
At 30 June 2015		2,115,018			30,000			2,145,018
Depreciation
At 1 July 2014		36,683			-			36,683
Charge for the year		11,577			-			11,577
At 30 June 2015		48,260			-			48,260
Net book value
At 30 June 2015		2,066,758			30,000			2,096,758
At 30 June 2014		2,039,376			30,000			2,069,376

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due after more than one year		-			675,966

Page 5

Ali & Sons Holding Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 June 2015
......... continued

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		250,000			250,000			250,000			250,000

Page 6