Gilson Investments Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 04105036

Abbreviated Unaudited Accounts for the Year Ended 31 December 2015

for

Gilson Investments Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Viesturs Gross

REGISTERED OFFICE:

127 Bakersfield

Crayford Road

London

N7 0LU

REGISTERED NUMBER:

04105036

ACCOUNTANTS:

S H Landes LLP

3rd Floor, Fairgate House

78 New Oxford Street

London

WC1A 1HB

CURRENT ASSETS

Debtors

2

4,723,314

4,723,202

Investments

4,500,000

Cash at bank

110,137

121,605

9,333,451

9,344,807

CREDITORS

Amounts falling due within one year

4,577,725

4,575,085

NET CURRENT ASSETS

4,755,726

4,769,722

TOTAL ASSETS LESS CURRENT
LIABILITIES

4,755,726

4,769,722

CREDITORS

Amounts falling due after more than one year

12,590,915

12,084,299

NET LIABILITIES

(7,835,189

)

(7,314,577

)

CAPITAL AND RESERVES

Called up share capital

3

Profit and loss account

(7,835,192

)

(7,314,580

)

SHAREHOLDERS' FUNDS

(7,835,189

)

(7,314,577

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 2 September 2016 and were signed by:

Viesturs Gross - 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 January 2015).

The financial statements are expressed in US Dollars.

Going concern

The financial statements have been prepared on a going concern basis even though at the balance sheet date the company
had net liabilities amounting to $7,835,189 (2014: $7,314,577) and made loss of $520,612 (2014: $456,289).The Director
considers the going concern basis to be appropriate due to the fact that the ultimate controlling parties have agreed to
provide financial support for the next 12 months as from the date of approval of the financial statements in order for the
company to meet its current liabilities

Deferred tax

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of

certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing

differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only

to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which

the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted

basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and

laws enacted or substantively enacted at the balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into US Dollars at the rates of exchange ruling at the balance sheet

date. Transactions in foreign currencies are translated into US Dollars at the rate of exchange ruling at the date of

transaction. Exchange differences are taken into account in arriving at the operating result.

Investments

Investments held as current assets are stated at lower of cost and net realisable value.

2.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

The aggregate total of debtors falling due after more than one year is $ 4,723,314

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

31.12.14

value:

$

2

Ordinary shares

£1

3