I_L_HOLDINGS_LIMITED - Accounts

I L HOLDINGS LIMITED - Company Information

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Company Registration No. 05882002 (England and Wales)

I L HOLDINGS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2016

LB GROUP

Number One

Vicarage Lane

London

England

E15 4HF

I L HOLDINGS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 4

I L HOLDINGS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 OCTOBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Intangible assets

120,000

160,000

Tangible assets

5,222,038

4,927,718

Investments

961,137

6,303,175

5,087,723

Current assets

Debtors

2,222,512

1,718,634

Cash at bank and in hand

326,676

1,125,722

2,549,188

2,844,356

Creditors: amounts falling due within one year

(1,472,505)

(1,141,622)

Net current assets

1,076,683

1,702,734

Total assets less current liabilities

7,379,858

6,790,457

Capital and reserves

Called up share capital

10,012

Revaluation reserve

307,966

12,966

Profit and loss account

7,061,880

6,767,479

Shareholders' funds

7,379,858

6,790,457

For the financial year ended 31 October 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 13 July 2017

Mr A Levitan

Director

Company Registration No. 05882002

I L HOLDINGS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

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

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life , as follows: Goodwill - over 5 years, as follows:

Goodwill - over 5 years

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

25% reducing balance

1.5

Investments

Certain of the company's properties are held for long term investment. Investment properties are accounted for in accordance with SSAP 19 as follows:

- Investment properties are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual property is expected to be permanent, in which case it is recognised in the profit and loss account for the period; and

- no depreciation is provided in respect of leasehold investment properties where the lease has over 20 years to run.

Although the Companies Act would normally require the systematic annual depreciation of fixed assets, the director believes that the policy of not providing depreciation is necessary in order for the financial statements to give a true and fair view, since the current value of investment properties, and changes to that value, are of prime importance rather than as a calculation of systematic annual deprecation. Depreciation is only one of many factors reflected in the annual valuation, and the amount which might otherwise be separately identified or quantified.

1.6

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

I L HOLDINGS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2016

Accounting policies

(Continued)

- 3 -

1.7

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

1.8

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Fixed assets

Intangible assets

Tangible assets

Investments

Total

Cost or valuation

At 1 November 2015

200,000

4,952,150

5,152,155

Additions

1,000,000

Revaluation

295,000

At 31 October 2016

200,000

5,247,150

1,000,005

6,447,155

Depreciation

At 1 November 2015

40,000

24,432

64,432

Charge for the year

40,000

680

38,868

79,548

At 31 October 2016

80,000

25,112

38,868

143,980

Net book value

At 31 October 2016

120,000

5,222,038

961,137

6,303,175

At 31 October 2015

160,000

4,927,718

5,087,723

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

I Levitan Services Limited

England and Wales

Ordinary

100.00

Whalebone Lane Limited

England and Wales

Ordinary

100.00

Mawney Road (DS) Limited

England and Wales

Ordinary

100.00

Gale Street Limited

England and Wales

Ordinary

100.00

Orchard Road (DS) Limited

England and Wales

Ordinary

100.00

I L HOLDINGS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2016

Fixed assets

(Continued)

- 4 -

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2016

Principal activity

I Levitan Services Limited

Provision of management services

213,358

39,943

Whalebone Lane Limited

Provision of dental services

438

122,498

Mawney Road (DS) Limited

Provision of dental services

69,943

Gale Street Limited

Provision of dental services

66,252

Orchard Road (DS) Limited

Provision of dental services

55,252

The company also owns 100% of the share capital of 170 North Street Limited. The company was dormant during the year ended 31 October 2016.

Share capital

2016

2015

Allotted, called up and fully paid

10,012 Ordinary of £1 each

10,012

Ultimate parent company

The company was owned and controlled by Mrs R Levitan during the current year.