| REGISTERED NUMBER: |
| AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016 |
| FOR |
| ABILITY DEVELOPMENTS LIMITED |
| REGISTERED NUMBER: |
| AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016 |
| FOR |
| ABILITY DEVELOPMENTS LIMITED |
| ABILITY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03280282) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| ABILITY DEVELOPMENTS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Statutory Auditors |
| 6th Floor |
| Charles House |
| 108-110 Finchley Road |
| London |
| NW3 5JJ |
| ABILITY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03280282) |
| BALANCE SHEET |
| 31 DECEMBER 2016 |
| 31.12.16 | 31.12.15 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Other reserves | ( |
) | ( |
) |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| ABILITY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03280282) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 1. | STATUTORY INFORMATION |
| Ability Developments Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about Ability Developments Limited as an individual company and do not |
| contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the |
| Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking |
| are included by full consolidation in the consolidated financial statements of its parent, A.P.The Ability Group Limited, a |
| company registered in Cyprus. |
| Turnover |
| Turnover represents net rental income excluding value added tax. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date |
| except for where balances are of a permanent nature. In this circumstance assets and liabilities are translated using the |
| historic rate of exchange in force at the date of the original transaction. 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. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire |
| purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over |
| their useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital |
| element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the term of the |
| lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are |
| charged to profit or loss in the period to which they relate. |
| ABILITY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03280282) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial liabilities |
| Basic financial liabilities, including trade and other payables, and loans from fellow group companies are initially recognised |
| at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the |
| present value of future receipts discounted at the market rate of interest. |
| Financial assets |
| Short term debtors are measured at transaction price, less any impairment. Other financial assets, including loans to group |
| companies are measured initially at fair value, net of transactions cost and are subsequently measured at amortised cost using |
| the effective interest method, less any impairment. |
| Taxation |
| Taxation expense for the period comprises current and deferred tax recognised in the reporting period. Tax is recognised in |
| the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly |
| in equity. |
| Current tax is the amount of income tax payable in respect of the taxable profit for the year. Tax is calculated on the basis of |
| tax rates and laws that have been enacted by the period end. |
| Fixed asset investments |
| Investments in subsidiaries are carried at cost less impairment. |
| Other operating income |
| Other operating income includes intercompany loan interest and consultancy income. |
| Going concern |
| After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has |
| adequate resources to continue in operational existence for the foreseeable future. The company, therefore continues to adopt |
| the going concern policy in preparing its financial statements. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 January 2016 |
| Additions |
| At 31 December 2016 |
| DEPRECIATION |
| At 1 January 2016 |
| Charge for year |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| ABILITY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03280282) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 5. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1 January 2016 |
| Additions |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Registered office: Hilton London Syon Park, Syon Park, London Road, Brentford, Middlesex, United Kingdom, TW8 8JF |
| Nature of business: |
| % |
| Class of shares: | holding |
| Registered office: Hilton London Syon Park, Syon Park, London Road, Brentford, Middlesex, United Kingdom, TW8 8JF |
| Nature of business: |
| % |
| Class of shares: | holding |
| Registered office: Hilton London Syon Park, Syon Park, London Road, Brentford, Middlesex, United Kingdom, TW8 8JF |
| Nature of business: |
| % |
| Class of shares: | holding |
| Registered office: Hilton London Syon Park, Syon Park, London Road, Brentford, Middlesex, United Kingdom, TW8 8JF |
| Nature of business: |
| % |
| Class of shares: | holding |
| Registered office: Hilton London Syon Park, Syon Park, London Road, Brentford, Middlesex, United Kingdom, TW8 8JF |
| Nature of business: |
| % |
| Class of shares: | holding |
| * Held through intermediate subsidiary company. |
| Registered office: Hilton London Syon Park, Syon Park, London Road, Brentford, Middlesex, United Kingdom, TW8 8JF |
| Nature of business: |
| % |
| Class of shares: | holding |
| * Held through intermediate subsidiary company. |
| ABILITY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03280282) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 5. | FIXED ASSET INVESTMENTS - continued |
| Registered office: Hilton London Syon Park, Syon Park, London Road, Brentford, Middlesex, United Kingdom, TW8 8JF |
| Nature of business: |
| % |
| Class of shares: | holding |
| * Held through intermediate subsidiary company. |
| 6. | DEBTORS |
| 31.12.16 | 31.12.15 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Amounts falling due after more than one year: |
| Other debtors |
| Aggregate amounts |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.16 | 31.12.15 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 9. | CONTINGENT LIABILITIES |
| The company is from time to time party to legal actions arising in the ordinary course of business and has also provided |
| guarantees on behalf of group companies. |
| 10. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial |
| Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly |
| owned subsidiaries within the group. |
| 11. | APB ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
| In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax |
| authorities and assist with the preparation of the financial statements. |
| ABILITY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03280282) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 12. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is The Costas Panayiotou 1997 (No 2) Settlement. |
| 13. | PARENT COMPANY |
| The immediate parent company is A.P. The Ability Group Limited, incorporated in Cyprus. |