YAZ Holdings Ltd - Limited company accounts 16.1

REGISTERED NUMBER: 05977379 (England and Wales)

Report of the Director and

Financial Statements for the Year Ended 31 December 2015

for

YAZ Holdings Ltd

Page

Company Information

1

Report of the Director

2

Report of the Independent Auditors

3

Profit and Loss Account

5

Balance Sheet

6

Notes to the Financial Statements

7

DIRECTOR:

Y Haifawi

SECRETARY:

I A Patel

REGISTERED OFFICE:

The Court Building

1 Market Street

London

SE18 6FU

REGISTERED NUMBER:

05977379 (England and Wales)

AUDITORS:

ARN Audit Ltd

Chartered Certified Accountants

& Registered Auditors, Statutory Auditors

5 Baldwin Street

London

EC1V 9NU

The director presents his report with the financial statements of the company for the year ended 31 December 2015.

DIRECTOR

Y Haifawi held office during the whole of the period from 1 January 2015 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Report of the Director and the financial statements in accordance with

applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director

has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting

Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve

the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and

of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the

company's transactions and disclose with reasonable accuracy at any time the financial position of the company and

enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for

safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud

and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act

2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a

director in order to make himself aware of any relevant audit information and to establish that the company's auditors are

aware of that information.

AUDITORS

The auditors, ARN Audit Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

Y Haifawi - Director

28 September 2016

We have audited the financial statements of YAZ Holdings Ltd for the year ended 31 December 2015 on pages five to

ten. The financial reporting framework that has been applied in their preparation is applicable law and the Financial

Reporting Standard for Smaller Entities (effective January 2015) (United Kingdom Generally Accepted Accounting

Practice applicable to Smaller Entities).

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the

Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those

matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent

permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's

members as a body, for our audit work, for this report, or for the opinions we have formed.

Respective responsibilities of director and auditors

As explained more fully in the Statement of Director's Responsibilities set out on page two, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board's Ethical Standards for Auditors.

Scope of the audit of the financial statements

An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give

reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error.

This includes an assessment of: whether the accounting policies are appropriate to the company's circumstances and

have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by

the director; and the overall presentation of the financial statements. In addition, we read all the financial and

non-financial information in the Report of the Director to identify material inconsistencies with the audited financial

statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent

with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material

misstatements or inconsistencies we consider the implications for our report.

Opinion on financial statements

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2015 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion the information given in the Report of the Director for the financial year for which the financial

statements are prepared is consistent with the financial statements.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you

if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of director's remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit; or

-	the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Director.

M B Natamkar (Senior Statutory Auditor)

for and on behalf of ARN Audit Ltd

Chartered Certified Accountants

& Registered Auditors, Statutory Auditors

5 Baldwin Street

London

EC1V 9NU

29 September 2016

TURNOVER

-

Administrative expenses

3,500

3,450

OPERATING LOSS

2

(3,500

)

(3,450

)

Income from shares in group undertakings

700,000

-

PROFIT/(LOSS) ON ORDINARY
ACTIVITIES BEFORE TAXATION

696,500

(3,450

)

Tax on profit/(loss) on ordinary activities

3

-

PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

696,500

(3,450

)

FIXED ASSETS

Investments

4

203

3

CURRENT ASSETS

Debtors

5

3,078,646

2,483,107

CREDITORS

Amounts falling due within one year

6

2,622,901

2,723,662

NET CURRENT ASSETS/(LIABILITIES)

455,745

(240,555

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

455,948

(240,552

)

CAPITAL AND RESERVES

Called up share capital

7

2

Profit and loss account

8

455,946

(240,554

)

SHAREHOLDERS' FUNDS

455,948

(240,552

)

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements were approved by the director on 28 September 2016 and were signed by:

Y Haifawi - 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).

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Going concern

The financial statements have been prepared on going concern basis. The directors believe that company will

continue to operate for the foreseeable future with their financial support

2.	OPERATING LOSS

The operating loss is stated after charging:

31.12.15

31.12.14

£

Director's remuneration and other benefits etc

-

3.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose on ordinary activities for the year ended 31 December 2015 nor for the

year ended 31 December 2014.

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2015

3

Additions

200

At 31 December 2015

203

NET BOOK VALUE

At 31 December 2015

203

At 31 December 2014

3

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Oppida Estates Ltd

Country of incorporation: England & Wales

Nature of business: Estate Agent

%

Class of shares:

holding

Ordinary

100.00

31.12.15

31.12.14

£

Aggregate capital and reserves

(702,985

)

(937,190

)

Profit for the year

234,205

102,974

Internation Properties Ltd

Country of incorporation: England & Wales

Nature of business: Property investment

%

Class of shares:

holding

Ordinary

100.00

31.12.15

31.12.14

£

Aggregate capital and reserves

79,935

642,644

Profit for the year

137,851

127,153

Property Liaison Ltd

Country of incorporation: England & Wales

Nature of business: Estate Agent

%

Class of shares:

holding

Ordinary

100.00

31.12.15

31.12.14

£

Aggregate capital and reserves

(365,440

)

(602,132

)

Profit/(loss) for the year

236,692

(45,161

)

Internation Development Ltd

Country of incorporation: England & Wales

Nature of business: Development of building projects

%

Class of shares:

holding

Ordinary

100.00

31.12.15

31.12.14

£

Aggregate capital and reserves

(36,059

)

(212

)

Loss for the year

(35,847

)

(312

)

Intop Management Ltd

Country of incorporation: England & Wales

Nature of business: Real estate agencies

%

Class of shares:

holding

Ordinary

100.00

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.15

31.12.14

£

Amounts owed by group undertakings

3,078,646

2,483,107

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.15

31.12.14

£

Directors current account

2,431,506

2,706,306

Amounts owed to group undertakings

172,539

-

Other creditors

15,356

Accruals and deferred income

3,500

2,000

2,622,901

2,723,662

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

31.12.14

value:

£

2

Ordinary shares

£1

2

8.

RESERVES

Profit

and loss

account

£

At 1 January 2015

(240,554

)

Profit for the year

696,500

At 31 December 2015

455,946

9.	RELATED PARTY DISCLOSURES

Included in 'Debtors' note 5 are amount due from and in 'Creditors' note 6 are amount due to the companies

which are wholly owned subsidiary of YAZ Holdings Ltd, are under common control by Mr Y Haifawi. At 31

December 2015, the balances were as follows:

2015 2014

£ £

Amounts owed by:

----------------------------

Oppida Estates Ltd 664,021 1,516,021

Internation Properties Ltd - 967,086

Property Liaiison Ltd 250,000 -

Internation Development Ltd 2,164,625 -

------------------ -----------------

3,078,646 2,483,107

========= =========

Amounts owed to:

----------------------------

Internation Properties Ltd 172,539 -

------------------ ----------------

172,539 -

========= ========

10.	ULTIMATE CONTROLLING PARTY

The company is controlled by Mr Yaser Haifawi, the director, by virtue of holding 100% share capital.