HUSSAIN INVESTMENTS LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
Company Registration No. 05746332 (England and Wales)
HUSSAIN INVESTMENTS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
HUSSAIN INVESTMENTS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
909,375
909,375
Investments
2
1,052,420
1,169,920
1,961,795
2,079,295
Current assets
Debtors
-
130,000
Cash at bank and in hand
173,331
54,807
173,331
184,807
Creditors: amounts falling due within one year
(49,096)
(309,566)
Net current assets/(liabilities)
124,235
(124,759)
Total assets less current liabilities
2,086,030
1,954,536
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
2,085,930
1,954,436
Shareholders' funds
2,086,030
1,954,536
For the financial year ended 31 December 2015 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 her 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 2 May 2016
Jabeen Kauser
Director
Company Registration No. 05746332
HUSSAIN INVESTMENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention 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
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets include investment properties professionally valued by Chartered Surveyors on an existing use open market value basis. Other tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the director compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
1.5
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 January 2015
909,375
1,169,920
2,079,295
Additions
-
132,500
132,500
Disposals
-
(250,000)
(250,000)
At 31 December 2015
909,375
1,052,420
1,961,795
At 31 December 2014
909,375
1,169,920
2,079,295
Included within unlisted investments is an investment in an unconnected party's property of £746,980 (2014 - £996,980).
HUSSAIN INVESTMENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 3 -
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary shares ('A', 'B', 'C', 'D', 'E, 'F') of £1 each
100
100
Each class of share ranks pari-pasu with each other and differing dividends on the different classes can be voted and paid.
4
Related party relationships and transactions
Loans from directors
Transactions in relation to loans with directors during the year are outlined in the table below:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
Jabeen Kauser - Directors Loan
-
248,227
138,717
-
372,885
14,059
248,227
138,717
-
372,885
14,059
Other transactions
During the year the company bought gold bullion from the director for £132,500 this transaction was on normal commercial terms.