Art Alliance Deluxe Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 06604008 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 December 2015

for

Art Alliance Deluxe Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

A Popov

I Fishman

REGISTERED OFFICE:

3rd Floor Fairgate House

78 New Oxford Street

London

WC1A 1HB

REGISTERED NUMBER:

06604008 (England and Wales)

ACCOUNTANTS:

S H Landes LLP

3rd Floor, Fairgate House

78 New Oxford Street

London

WC1A 1HB

CURRENT ASSETS

Stocks

125,000

594,191

Debtors

2,931,363

2,679,135

Investments

-

47,560

Cash at bank and in hand

268,875

1,051,987

3,325,238

4,372,873

CREDITORS

Amounts falling due within one year

4,364,391

4,374,553

NET CURRENT LIABILITIES

(1,039,153

)

(1,680

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,039,153

)

(1,680

)

CAPITAL AND RESERVES

Called up share capital

2

1,222

Retained earnings

(1,040,375

)

(2,902

)

SHAREHOLDERS' FUNDS

(1,039,153

)

(1,680

)

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 directors acknowledge their 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 Board of Directors on 30 September 2016 and were signed on its behalf
by:

A Popov - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company operates as an undisclosed agent in exporting jewellery and other luxury goods. In accordance with

Financial Reporting Standard 5, these accounts reflect all transactions effected through the company including

those which are performed on behalf of and in favour of its principal.

The financial statements are expressed in Euro.

Turnover

Turnover represents sales made net of VAT and trade discounts. Turnover is recognised when the goods are

physically delivered to the customer.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

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

treatment of certain item 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 only recognised 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 timing difference can be deducted.

Deferred taxation is measured on a non-discounted basis at the tax rates and laws enacted or substantively

enacted at the balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into euro at the rates of exchange ruling at the balance
sheet date. Transactions in foreign currencies are translated into Euro at the rate of exchange ruling at the date of
transaction. Exchange differences are taken into account in arriving at the operating result.

Going concern

The company's ability to continue as a going concern is contingent on the willingness of related parties to

provide financing to the company. The related parties have expressed their willingness 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. The directors therefore continue to adopt the going concern basis of accounting.

Investments

Current asset investments are stated at cost.

2.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

31.12.14

value:

€

1,000

Ordinary

€1

1,222