Atlantic Investment Alliance Ltd. - Limited company accounts 11.4

REGISTERED NUMBER: SC332548 (Scotland)

Report of the Director and

Unaudited Financial Statements for the Year Ended 31 October 2013

for

Atlantic Investment Alliance Ltd.

Page

Company Information

1

Report of the Director

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

Kalilu Gumaneh

SECRETARY:

Lawsons Secretaries Limited

REGISTERED OFFICE:

71 Brunswick Street

Edinburgh

Lothian

EH7 5HS

REGISTERED NUMBER:

SC332548 (Scotland)

The director presents his report with the financial statements of the company for the year ended 31 October 2013.

DIRECTORS

The directors who have held office during the period from 1 November 2012 to the date of this report are as follows:

Theresa Greenhill - resigned 17 December 2012

Alexander Malov - resigned 15 May 2013

Kalilu Gumaneh - appointed 15 May 2013

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.

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:

Kalilu Gumaneh - Director

10 June 2014

TURNOVER

3,487

3,648

Administrative expenses

1,266

1,316

OPERATING PROFIT and

PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION

2

2,221

2,332

Tax on profit on ordinary activities

3

444

466

PROFIT FOR THE FINANCIAL YEAR

1,777

1,866

CURRENT ASSETS

Debtors

4

3,487

3,648

Cash at bank

12,502

10,588

15,989

14,236

CREDITORS

Amounts falling due within one year

5

1,564

1,588

NET CURRENT ASSETS

14,425

12,648

TOTAL ASSETS LESS CURRENT LIABILITIES

14,425

12,648

CAPITAL AND RESERVES

Called up share capital

6

2,000

2,000

Profit and loss account

7

12,425

10,648

SHAREHOLDERS' FUNDS

14,425

12,648

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2013 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 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 10 June 2014 and were signed by:

Kalilu Gumaneh - 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).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Deferred tax

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

sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into United States Dollar (USD) at the rates of exchange

ruling at the balance sheet date. Transactions in foreign currencies are translated into USD at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the

operating result.

2.	OPERATING PROFIT

The operating profit is stated after charging:

31.10.13

31.10.12

$

$

Directors' remuneration and other benefits etc

-

-

3.

TAXATION

Analysis of the tax charge

The tax charge on the profit on ordinary activities for the year was as follows:

31.10.13

31.10.12

$

$

Current tax:

UK corporation tax

444

466

Tax on profit on ordinary activities

444

466

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.13

31.10.12

$

$

Trade debtors

3,487

3,648

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.13

31.10.12

$

$

Tax

444

466

Accrued expenses

1,120

1,122

1,564

1,588

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.13

31.10.12

value:

$

$

1,000

Ordinary

£1

2,000

2,000

7.

RESERVES

Profit

and loss

account

$

At 1 November 2012

10,648

Profit for the year

1,777

At 31 October 2013

12,425