7436 Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 07333278 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 December 2015

for

7436 LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

M J Thatcher

SECRETARY:

M J Thatcher

REGISTERED OFFICE:

Oxford House

15-17 Mount Ephraim Road

Tunbridge Wells

Kent

TN1 1EN

REGISTERED NUMBER:

07333278 (England and Wales)

ACCOUNTANTS:

Ward Mackenzie Ltd

Oxford House

15-17 Mount Ephraim Road

Tunbridge Wells

Kent

TN1 1EN

CURRENT ASSETS

Debtors

1,514

-

Cash at bank

7,924

101,751

9,438

101,751

CREDITORS

Amounts falling due within one year

(2,919

)

(97,544

)

NET CURRENT ASSETS

6,519

4,207

TOTAL ASSETS LESS CURRENT LIABILITIES

6,519

4,207

CAPITAL AND RESERVES

Called up share capital

2

1

1

Profit and loss account

6,518

4,206

SHAREHOLDERS' FUNDS

6,519

4,207

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 22 June 2016 and were signed by:

M J Thatcher - 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 January 2015).

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 8 Related Party

Disclosures, not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents net operating lease rentals receivable during the year, excluding value added tax.

Deferred tax

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

date as these are considered immaterial.

Foreign currencies

Assets and liabilities in foreign currencies are translated into dollars at the rates of exchange ruling at the balance sheet

date. Transactions in foreign currencies are translated into dollars at the rate of exchange ruling at the date of transaction.

Exchange differences are taken into account in arriving at the operating result.

Functional and presentational currency

These financial statements are presented in US Dollars, which is the Company's functional currency.

Leases

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor

are charged against profit on a straight line basis over the lease term.

2.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

31.12.14

value:

$

$

1

Ordinary

$1

1

1

3.	ULTIMATE PARENT COMPANY

Kahala Aviation Limited (incorporated in Bermuda ) is regarded by the director as being the company's ultimate parent

company.

4.	ULTIMATE CONTROLLING PARTY

The controlling party is Kahala Aviation Leasing Limited.

The ultimate controlling party is Kahala Aviation Limited.