Abbreviated Company Accounts - I L HOLDINGS LIMITED

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.
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

Tangible assets depreciation policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment 25% reducing balance

Intangible assets amortisation policy
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life, as follows:
Goodwill - over 5 years

Other accounting policies
Investments
Certain of the company's properties are held for long term investment. Investment properties are accounted for in accordance with SSAP 19 as follows:
- 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 property is expected to be permanent, in which case it is recognised in the profit and loss account for the period; and
- 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 director believes 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 value, are of prime importance rather than as a calculation of systematic annual deprecation. Depreciation is only one of many factors reflected in the annual valuation, and the amount which might otherwise be separately identified or quantified.

Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

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.

Ultimate controlling party
The company was owned and controlled by Mrs R Levitan during the current year.

Holdings of more than 20% -
The company holds more than 20% of the share capital of the following companies:
I Levitan Services Limited - England and Wales - Ordinary - 100%
Whalebone Lane Limited - England and Wales - Ordinary - 100%
Mawney Road (DS) Limited - England and Wales - Ordinary - 100%
Gale Street Limited - England and Wales - Ordinary - 100%
Orchard Road (DS) Limited - England and Wales - Ordinary - 100%

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
1) Company: I Levitan Services Limited
Principal Activity: Provision of management services
Capital and reserves: 221,415
Profit/(loss) for the year: 195,056

2) Company: Whalebone Lane Limited
Principal Activity: Provision of dental services
Capital and reserves: 441
Profit/(loss) for the year: 88,678

3) Company: Mawney Road (DS) Limited
Principal Activity: Provision of dental services
Capital and reserves: 96
Profit/(loss) for the year: 70,442

4) Company: Gale Street Limited
Principal Activity: Provision of dental services
Capital and reserves: 80
Profit/(loss) for the year: 67,064

5) Company: Orchard Road (DS) Limited
Principal Activity: Provision of dental services
Capital and reserves: 16
Profit/(loss) for the year: 58,909

The company also owns 100% of the share capital of 170 North Street Limited. The company was dormant during the year ended 31 October 2015.

4Fixed assets Investments
Cost or valuation
At 1 November 2014: 5
At 31 October 2015: 5

Depreciation
At 1 November 2014: -
Charge for the year: -
At 31 October 2015: -

Net book value
At 31 October 2015: 5
At 31 October 2014: 5