Netzach Israel Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 05810971 (England and Wales)

NETZACH ISRAEL LIMITED

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MAY 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

I Benaim

S Gabay

SECRETARY:

S Gabay

REGISTERED OFFICE:

923 Finchley Road

Golders Green

London

NW11 7PE

REGISTERED NUMBER:

05810971 (England and Wales)

ACCOUNTANTS:

Joseph Kahan Associates LLP

Chartered Accountants

923 Finchley Road

London

NW11 7PE

FIXED ASSETS

Investment property

2

1,450,000

CURRENT ASSETS

Debtors

7,427

279

Cash at bank

238

317

7,665

596

CREDITORS

Amounts falling due within one year

4,518

3,028

NET CURRENT ASSETS/(LIABILITIES)

3,147

(2,432

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,453,147

1,447,568

CREDITORS

Amounts falling due after more than one
year

3

789,465

783,886

NET ASSETS

663,682

RESERVES

Revaluation reserve

739,730

Income and expenditure account

(76,048

)

(76,048

)

663,682

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 surplus or deficit 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 24 November 2017 and were signed on its behalf
by:

S Gabay - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January

2015).

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

market value is transferred to a revaluation reserve.

In accordance with SSAP 19 Accounting for Investment Properties, no depreciation is provided in respect of

freehold or long leasehold properties. This is a departure from the Companies Act 2006, which requires all fixed

assets to be depreciated. Such properties are not held for consumption but for investment, and the directors

consider that to depreciate them would not give a true and fair view. Depreciation is only one amongst many

factors reflected in the annual valuation of properties and accordingly the amount of depreciation, which might

otherwise have been charged, cannot be separately identified or quantified. The directors consider that this policy

results in the accounts giving a true and fair view.

Deferred tax

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

sheet date.

2.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 June 2014

and 31 May 2015

1,450,000

NET BOOK VALUE

At 31 May 2015

1,450,000

At 31 May 2014

1,450,000

3.

CREDITORS

Creditors include the following debts falling due in more than five years:

2015

2014

£

Repayable otherwise than by instalments

789,465

783,886