Allied Gold Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 01883391 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

ALLIED GOLD LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J S Abraham

J Anderson

R Abraham

C Quayle

SECRETARY:

J S Abraham

REGISTERED OFFICE:

1110 Elliott Court

Coventry Business Park

Herald Avenue

Coventry

West Midlands

CV5 6UB

REGISTERED NUMBER:

01883391 (England and Wales)

ACCOUNTANTS:

LDP Luckmans

1110 Elliott Court

Coventry Business Park

Herald Avenue

Coventry

West Midlands

CV5 6UB

FIXED ASSETS

Intangible assets

2

15,488

-

Tangible assets

3

393,705

377,315

Investments

4

2

-

409,195

377,315

CURRENT ASSETS

Stocks

972,553

961,727

Debtors

928,743

766,646

Cash at bank and in hand

21,236

90,809

1,922,532

1,819,182

CREDITORS

Amounts falling due within one year

5

709,302

644,475

NET CURRENT ASSETS

1,213,230

1,174,707

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,622,425

1,552,022

CREDITORS

Amounts falling due after more than one
year

5

1,212,464

1,110,862

NET ASSETS

409,961

441,160

CAPITAL AND RESERVES

Called up share capital

6

175,000

Capital redemption reserve

25,000

Profit and loss account

209,961

241,160

SHAREHOLDERS' FUNDS

409,961

441,160

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 21 December 2016 and were signed on
its behalf by:

J Anderson - 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).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

Equal instalments over period of lease

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

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

the balance sheet date.

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 estimated 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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

Additions

15,488

At 31 March 2016

15,488

NET BOOK VALUE

At 31 March 2016

15,488

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

1,317,496

Additions

91,295

At 31 March 2016

1,408,791

DEPRECIATION

At 1 April 2015

940,181

Charge for year

74,905

At 31 March 2016

1,015,086

NET BOOK VALUE

At 31 March 2016

393,705

At 31 March 2015

377,315

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

Additions

2

At 31 March 2016

2

NET BOOK VALUE

At 31 March 2016

2

The company's investments at the Balance Sheet date in the share capital of companies include the

following:

Eternal Silver Limited

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

31.10.15

£

Aggregate capital and reserves

1

Forever Silver Limited

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

31.10.15

£

Aggregate capital and reserves

1

5.

CREDITORS

Creditors include an amount of £ 510,178 (2015 - £ 345,462 ) for which security has been given.

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

175,000

Ordinary

£1

175,000

7.	ULTIMATE PARENT COMPANY

Odin Enterprises Limited (incorporated in Gibraltar ) is regarded by the directors as being the

company's ultimate parent company.