ABUSAMI LIMITED - Filleted accounts

ABUSAMI LIMITED
Registered number:		07190883
Balance Sheet
as at 31 March 2016

Notes			2016
£
Fixed assets
Intangible assets	4		-
Tangible assets	5		-
Investments	6		-
			-

Current assets
Stocks		-
Debtors	7	-
Investments held as current assets		-
Cash at bank and in hand		8,362
		8,362

Creditors: amounts falling due within one year	8	34,378

Net current assets			42,740

Total assets less current liabilities			42,740

Creditors: amounts falling due after more than one year	9		-

Provisions for liabilities			-


Net assets			42,740

Capital and reserves
Called up share capital			-
Share premium			-
Revaluation reserve	11		-
Profit and loss account			42,740

Shareholders' funds			42,740

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Dr. Abuobeida Attalla
Director
Approved by the board on 30 December 2016

ABUSAMI LIMITED
Notes to the Accounts
for the year ended 31 March 2016


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings			over 50 years
	Leasehold land and buildings			over the lease term
	Plant and machinery			over 5 years
	Fixtures, fittings, tools and equipment			over 5 years

	Investments
	Investments in unquoted equity instruments are measured at fair value. Changes in fair value are recognised in profit or loss. Fair value is estimated by using a valuation technique.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Exceptional items					2016
£




						-


3	Employees					2016
Number

	Average number of persons employed by the company					-


4	Intangible fixed assets							£
	Goodwill:

	Cost
	At 1 April 2015							-
	Additions							-
	Disposals							-
	At 31 March 2016							-

	Amortisation
	At 1 April 2015							-
	Provided during the year							-
	On disposals							-
	At 31 March 2016							-

	Net book value
	At 31 March 2016							-
	At 31 March 2015							-

	Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.


5	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 April 2015	-		8,550		-		8,550
	Additions	-		-		-		-
	Surplus on revaluation	-		-		-		-
	Disposals	-		-		-		-
	At 31 March 2016	-		8,550		-		8,550

	Depreciation
	At 1 April 2015	-		8,550		-		8,550
	Charge for the year	-		-		-		-
	Surplus on revaluation	-		-		-		-
	On disposals	-		-		-		-
	At 31 March 2016	-		8,550		-		8,550

	Net book value
	At 31 March 2016	-		-		-		-
	At 31 March 2015	-		-		-		-


	Freehold land and buildings:					2016
£
	Historical cost					-
	Cumulative depreciation based on historical cost					-
						-

	[For revalued assets, state the years in which the assets were valued and their values. For assets revalued during the reporting period, state the names of the persons who revalued them or particulars of their qualifications for doing so and the bases of valuation used by them.]


6	Investments
Investments in
subsidiary					Other
undertakings					investments		Total
£					£		£
	Cost
	At 1 April 2015			-		-		-
	Additions			-		-		-
	Disposals			-		-		-

	At 31 March 2016			-		-		-


7	Debtors					2016
£

	Trade debtors					-
	Amounts owed by group undertakings and undertakings in which the company has a participating interest					-
	Deferred tax asset					-
	Other debtors					-
						-

	Amounts due after more than one year included above					-


8	Creditors: amounts falling due within one year					2016
£

	Non-equity preference shares					-
	Bank loans and overdrafts					-
	Obligations under finance lease and hire purchase contracts					-
	Trade creditors					-
	Amounts owed to group undertakings and undertakings in which the company has a participating interest					-
	Corporation tax					-
	Other taxes and social security costs					-
	Other creditors					(34,378)
						(34,378)


9	Creditors: amounts falling due after one year					2016
£

	Non-equity preference shares					-
	Bank loans					-
	Obligations under finance lease and hire purchase contracts					-
	Trade creditors					-
	Amounts owed to group undertakings and undertakings in which the company has a participating interest					-
	Other creditors					-
						-


10	Loans					2016
£
	Creditors include:
	Amounts payable otherwise than by instalment falling due for payment after more than five years					-
	Instalments falling due for payment after more than five years					-
						-


	Secured bank loans					-

	[Give an indication of the nature and form of the security for the bank loans]


11	Revaluation reserve					2016
£

	At 1 April 2015					-
	Gain on revaluation of land and buildings					-
	Deferred taxation arising on the revaluation of land and buildings					-

	At 31 March 2016					-


12	Events after the reporting date




13	Capital commitments					2016
£

	Amounts contracted for but not provided in the accounts					-


14	Pension commitments




15	Other financial commitments					2016
£

	Total future minimum payments under non-cancellable operating leases					-


16	Contingent liabilities




17	Off-balance sheet arrangements




18	Loans to directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£
	Dr. Abuobeida Attalla
	[Loan 1]	-		-		-		-
	[Loan 2]	-		-		-		-

	[Director 2]
	[Loan 1]	-		-		-		-
	[Loan 2]	-		-		-		-

	[Director 3]
	[Loan 1]	-		-		-		-
	[Loan 2]	-		-		-		-

	[Director 4]
	[Loan 1]	-		-		-		-
	[Loan 2]	-		-		-		-

	[Director 5]
	[Loan 1]	-		-		-		-
	[Loan 2]	-		-		-		-

	[Director 6]
	[Loan 1]	-		-		-		-
	[Loan 2]	-		-		-		-

	[Director 7]
	[Loan 1]	-		-		-		-
	[Loan 2]	-		-		-		-

	[Director 8]
	[Loan 1]	-		-		-		-
	[Loan 2]	-		-		-		-

	[Director 9]
	[Loan 1]	-		-		-		-
	[Loan 2]	-		-		-		-

		-		-		-		-


19	Guarantees made by the company on behalf of directors
	Main terms			Maximum	Amount paid
liability					and incurred
£					£
	Dr. Abuobeida Attalla
	[Guarantee 1]			-		-
	[Guarantee 2]			-		-

	[Director 2]
	[Guarantee 1]			-		-
	[Guarantee 2]			-		-

	[Director 3]
	[Guarantee 1]			-		-
	[Guarantee 2]			-		-

	[Director 4]
	[Guarantee 1]			-		-
	[Guarantee 2]			-		-

	[Director 5]
	[Guarantee 1]			-		-
	[Guarantee 2]			-		-

	[Director 6]
	[Guarantee 1]			-		-
	[Guarantee 2]			-		-

	[Director 7]
	[Guarantee 1]			-		-
	[Guarantee 2]			-		-

	[Director 8]
	[Guarantee 1]			-		-
	[Guarantee 2]			-		-

	[Director 9]
	[Guarantee 1]			-		-
	[Guarantee 2]			-		-

				-		-


20	Related party transactions




21	Controlling party




22	Other information

	ABUSAMI LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
	62 CAMDEN ROAD
	CAMDEN TOWN
	LONDON
	NW1 9DR
	#REF!