AILEC_HOLDINGS_LIMITED - Accounts

AILEC HOLDINGS LIMITED - Company Information

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Company Registration No. 01680727 (England and Wales)

AILEC HOLDINGS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

AILEC HOLDINGS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

AILEC HOLDINGS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

2,194,829

966,102

Investments

246,852

746,852

2,441,681

1,712,954

Current assets

Debtors

40,290

13,452

Cash at bank and in hand

168,870

58,299

209,160

71,751

Creditors: amounts falling due within one year

(115,453)

(34,204)

Net current assets

93,707

37,547

Total assets less current liabilities

2,535,388

1,750,501

Creditors: amounts falling due after more than one year

(853,957)

Provisions for liabilities

(1,600)

(1,200)

1,679,831

1,749,301

Capital and reserves

Called up share capital

200

Revaluation reserve

(124,801)

Profit and loss account

1,804,432

1,749,101

Shareholders' funds

1,679,831

1,749,301

AILEC HOLDINGS LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 DECEMBER 2015

- 2 -

For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 18 September 2016

M Adkins

Director

Company Registration No. 01680727

AILEC HOLDINGS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention as modified by the revaluation of certain investments and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Under Financial Reporting Standard 1, the company is exempt from the requirement to prepare a cashflow statement on the grounds of its size.

1.2

Compliance with accounting standards

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).

1.3

Turnover

Turnover represents revenue recognised in the financial statements. Revenue is recognised when the company fulfils its contractual obligations to customers by supplying goods and services and excludes value added tax.

1.4

Tangible fixed assets and depreciation

Depreciation is calculated on a straight line basis at the following annual rates which are intended to write off the cost less residual value of relevant assets over their estimated useful lives:

Computer equipment

33% straight line

1.5

Investments

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

1.6

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.7

Investment properties

In accordance with Statement of Standard Accounting Practice No 19:

- investment properties are revalued annually by the directors on an open market basis and the aggregate surplus or deficit is transferred to a revaluation reserve; and

- no depreciation or amortisation is provided in respect of freehold investment properties and leasehold investment properties with over 20 years to run.

This treatment, as regards certain of the company's investment properties, may be a departure from the requirements of the Companies Act concerning 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 accounts to give a true and fair view. Depreciation or amortisation is only one of the many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

AILEC HOLDINGS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

Accounting policies

(Continued)

- 4 -

Fixed assets

Tangible assets

Investments

Total

Cost or valuation

At 1 January 2015

966,430

746,852

1,713,282

Additions

1,353,856

Revaluation

(124,801)

Disposals

(500,000)

At 31 December 2015

2,195,485

246,852

2,442,337

Depreciation

At 1 January 2015

328

Charge for the year

328

At 31 December 2015

656

Net book value

At 31 December 2015

2,194,829

246,852

2,441,681

At 31 December 2014

966,102

746,852

1,712,954

Creditors: amounts falling due after more than one year

2015

2014

Total amounts repayable by instalments which are due in more than five years

(651,820)