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Unaudited Financial Statements for the Year Ended 31 July 2018 |
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Ailie Corporation Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 July 2018 |
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for |
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Ailie Corporation Limited |
Ailie Corporation Limited (Registered number: 10295230) |
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Contents of the Financial Statements |
for the Year Ended 31 July 2018 |
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Page |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Ailie Corporation Limited |
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Company Information |
for the Year Ended 31 July 2018 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Lake House |
Market Hill |
Royston |
Hertfordshire |
SG8 9JN |
Ailie Corporation Limited (Registered number: 10295230) |
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Abridged Balance Sheet |
31 July 2018 |
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31.7.18 | 31.7.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 6 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006
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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. |
Ailie Corporation Limited (Registered number: 10295230) |
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Abridged Balance Sheet - continued |
31 July 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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Ailie Corporation Limited (Registered number: 10295230) |
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Notes to the Financial Statements |
for the Year Ended 31 July 2018 |
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1. | STATUTORY INFORMATION |
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Ailie Corporation Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements have been prepared on a going concern basis. The Director considers this basis to be appropriate |
despite the fact that the balance sheet shows net current liabilities at 31 July 2018 the company is generating sufficient cash |
flows on a weekly basis together with the support of its bank to meet its current liabilities. |
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Preparation of consolidated financial statements |
The financial statements contain information about Ailie Corporation Limited as an individual company and do not contain |
consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the |
Companies Act 2006 from the requirements to prepare consolidated financial statements. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added |
tax and other sales taxes. |
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Turnover represents commissions received on the trading of goods transacted. Commission is recognised when it falls due. |
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Tangible fixed assets |
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Motor vehicles | - |
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Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its |
financial instruments. |
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Financial instruments are recognised in the company's statement of financial position when the company becomes party to |
the contractual provisions of the instrument. |
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Basic financial assets |
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are |
subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing |
transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of |
interest. Financial assets classified as receivable within one year are not amortised. |
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Basic financial liabilities |
Basic financial liabilities, including creditors and loans that are classified as debt, are initially recognised at transaction |
price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value |
of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are |
not amortised. |
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Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from |
suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are |
presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured |
at amortised cost using the effective interest method. |
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Ailie Corporation Limited (Registered number: 10295230) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2018 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent |
that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively |
enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in |
which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted |
or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be |
recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet |
date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. |
Exchange differences are taken into account in arriving at the operating result. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2017 - NIL). |
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4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 August 2017 |
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Additions |
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Disposals | ( |
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At 31 July 2018 |
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DEPRECIATION |
At 1 August 2017 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 July 2018 |
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NET BOOK VALUE |
At 31 July 2018 |
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At 31 July 2017 |
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Ailie Corporation Limited (Registered number: 10295230) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2018 |
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5. | FIXED ASSET INVESTMENTS |
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Information on investments other than loans is as follows: |
Totals |
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COST |
At 1 August 2017 |
and 31 July 2018 | 1,100 |
NET BOOK VALUE |
At 31 July 2018 | 1,100 |
At 31 July 2017 | 1,100 |
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6. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.7.18 | 31.7.17 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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B Ordinary | £1 | 100 | 100 |
200 | 200 |