Registration number:
Unaudited Abbreviated Accounts
for the Year Ended
Intermay Management Ltd
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The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5 ) have been prepared.
Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Intermay Management Ltd
for the Year Ended 31 May 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Intermay Management Ltd for the year ended 31 May 2016 set out on pages 2 to 5 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional -standards/rules-standards/acca-rulebook.html .
This report is made solely to the Board of Directors of Intermay Management Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Intermay Management Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Intermay Management Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Intermay Management Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Intermay Management Ltd. You consider that Intermay Management Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Intermay Management Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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NA Associates LLP
Chartered Certified Accountants
Woodgate Studios
2-8 Games Road
Cockfosters
Hertfordshire
EN4 9HN
28 February 2017
Intermay Management Ltd
(Registration number: 04445610)
Abbreviated Balance Sheet at 31 May 2016
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2016
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2015
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Share premium account |
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Profit and loss account |
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Shareholders' funds |
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Approved by the director on
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A Sofocleous
Director
2
Intermay Management Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued
Accounting policies |
Basis of preparation
Exemption from preparing group accounts
Going concern
The financial statements have been prepared on a going concern basis. The company has made a loss of $9,881 (2015 - $8,118) during the year and has net current liabilities of $51,030,970 (2015 - $59,378,294). The directors expect the investment to realise significant returns in future periods and the inter company loan is not expected to be repaid within 18 months of the date these accounts have been signed off and therefore the going concern basis is considered appropriate.
Fixed asset investments
Foreign currency
Financial instruments
Intermay Management Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued
Fixed assets |
Investments
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Total
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Cost |
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At 1 June 2015 |
232,597,180 |
232,597,180 |
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At 31 May 2016 |
232,597,180 |
232,597,180 |
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Depreciation |
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At 1 June 2015 |
145,774,159 |
145,774,159 |
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Charge for the year |
10,986,493 |
10,986,493 |
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At 31 May 2016 |
156,760,652 |
156,760,652 |
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Net book value |
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At 31 May 2016 |
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At 31 May 2015 |
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Details of undertakings |
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Country of incorporation |
Holding |
Proportion of voting rights and shares held |
Principal activity |
Subsidiary undertakings |
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Ukraine |
Ordinary |
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The loss for the financial period of UKRCapital was $21,780 and the aggregate amount of capital and reserves at the end of the period was $78,124,241.
The company has a different year end to the parent due to the laws in the country of its incorporation.
Intermay Management Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued
Share capital |
Allotted, called up and fully paid shares
2016 |
2015 |
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No. |
$ |
No. |
$ |
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Control |
The company is controlled by