YAZ Holdings Ltd - Limited company accounts 11.4

REGISTERED NUMBER: 05977379 (England and Wales)

Report of the Director and

Financial Statements for the Year Ended 31 December 2013

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:

C6 Riverside

417 Wick Lane

London

E3 2JG

REGISTERED NUMBER:

05977379 (England and Wales)

AUDITORS:

ARN Audit Ltd

Chartered Certified Accountants

& Registered 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 2013.

DIRECTOR

Y Haifawi held office during the whole of the period from 1 January 2013 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 special provisions of Part 15 of the Companies Act 2006 relating

to small companies.

ON BEHALF OF THE BOARD:

Y Haifawi - Director

25 September 2014

We have audited the financial statements of YAZ Holdings Ltd for the year ended 31 December 2013 on pages five to

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

Reporting Standard for Smaller Entities (effective April 2008) (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 2013 and of its loss 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

5 Baldwin Street

London

EC1V 9NU

26 September 2014

TURNOVER

-

Administrative expenses

3,972

5,200

OPERATING LOSS and

LOSS ON ORDINARY ACTIVITIES
BEFORE TAXATION

2

(3,972

)

(5,200

)

Tax on loss on ordinary activities

3

-

LOSS FOR THE FINANCIAL YEAR

(3,972

)

(5,200

)

FIXED ASSETS

Investments

4

3

5

CURRENT ASSETS

Debtors

5

2,487,557

6,446,251

CREDITORS

Amounts falling due within one year

6

2,724,662

6,679,386

NET CURRENT LIABILITIES

(237,105

)

(233,135

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(237,102

)

(233,130

)

CAPITAL AND RESERVES

Called up share capital

7

2

Profit and loss account

8

(237,104

)

(233,132

)

SHAREHOLDERS' FUNDS

(237,102

)

(233,130

)

The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the director on 25 September 2014 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 April 2008).

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:

31.12.13

31.12.12

£

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 2013 nor for the

year ended 31 December 2012.

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2013

5

Impairments

(2

)

At 31 December 2013

3

NET BOOK VALUE

At 31 December 2013

3

At 31 December 2012

5

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

31.12.13

31.12.12

£

Aggregate capital and reserves

(1,523,214

)

(1,473,678

)

Loss for the year

(49,536

)

(78,460

)

Internation Properties Ltd

Country of incorporation: England & Wales

Nature of business: Property investment

%

Class of shares:

holding

Ordinary

100.00

31.12.13

31.12.12

£

Aggregate capital and reserves

998,541

373,578

Profit/(loss) for the year

624,963

(149,148

)

Property Liaison Ltd

Country of incorporation: England & Wales

Nature of business: Estate Agent

%

Class of shares:

holding

Ordinary

100.00

31.12.13

31.12.12

£

Aggregate capital and reserves

(556,971

)

(508,142

)

Loss for the year

(48,829

)

(101,422

)

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.13

31.12.12

£

Amounts owed by group undertakings

2,487,557

6,446,251

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.13

31.12.12

£

Directors current account

2,706,306

Other creditors

15,356

3,969,080

Accruals and deferred income

3,000

4,000

2,724,662

6,679,386

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.13

31.12.12

value:

£

2

Ordinary shares

£1

2

8.

RESERVES

Profit

and loss

account

£

At 1 January 2013

(233,132

)

Deficit for the year

(3,972

)

At 31 December 2013

(237,104

)

9.	RELATED PARTY DISCLOSURES

Included in 'Debtors' note 5 are amount due from the companies which are wholly owned subsidiary of YAZ

Holdings Ltd, are under common control by Mr Y Haifawi. At 31 December 2013, the balances were as follows:

2013 2012

£ £

Amounts owed by:

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

Oppida Estates Ltd 1,520,271 1,512,855

Internation Properties Ltd 967,286 4,936,401

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

2,487,557 6,446,251

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

10.	ULTIMATE CONTROLLING PARTY

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