Caseware UK (AP4) 2021.0.152 2021.0.152 true2020-07-01falseconstruction and renovation of domestic buildings32trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10227317 2020-07-01 2021-06-30 10227317 2019-07-01 2020-06-30 10227317 2021-06-30 10227317 2020-06-30 10227317 c:Director1 2020-07-01 2021-06-30 10227317 d:PlantMachinery 2020-07-01 2021-06-30 10227317 d:PlantMachinery 2021-06-30 10227317 d:PlantMachinery 2020-06-30 10227317 d:PlantMachinery d:OwnedOrFreeholdAssets 2020-07-01 2021-06-30 10227317 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2020-07-01 2021-06-30 10227317 d:MotorVehicles 2020-07-01 2021-06-30 10227317 d:MotorVehicles 2021-06-30 10227317 d:MotorVehicles 2020-06-30 10227317 d:MotorVehicles d:OwnedOrFreeholdAssets 2020-07-01 2021-06-30 10227317 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2020-07-01 2021-06-30 10227317 d:OfficeEquipment 2020-07-01 2021-06-30 10227317 d:OfficeEquipment 2021-06-30 10227317 d:OfficeEquipment 2020-06-30 10227317 d:OfficeEquipment d:OwnedOrFreeholdAssets 2020-07-01 2021-06-30 10227317 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2020-07-01 2021-06-30 10227317 d:OwnedOrFreeholdAssets 2020-07-01 2021-06-30 10227317 d:LeasedAssetsHeldAsLessee 2020-07-01 2021-06-30 10227317 d:CurrentFinancialInstruments 2021-06-30 10227317 d:CurrentFinancialInstruments 2020-06-30 10227317 d:Non-currentFinancialInstruments 2021-06-30 10227317 d:Non-currentFinancialInstruments 2020-06-30 10227317 d:CurrentFinancialInstruments d:WithinOneYear 2021-06-30 10227317 d:CurrentFinancialInstruments d:WithinOneYear 2020-06-30 10227317 d:Non-currentFinancialInstruments d:AfterOneYear 2021-06-30 10227317 d:Non-currentFinancialInstruments d:AfterOneYear 2020-06-30 10227317 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-06-30 10227317 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2020-06-30 10227317 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-06-30 10227317 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2020-06-30 10227317 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2021-06-30 10227317 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2020-06-30 10227317 d:ShareCapital 2021-06-30 10227317 d:ShareCapital 2020-06-30 10227317 d:RetainedEarningsAccumulatedLosses 2021-06-30 10227317 d:RetainedEarningsAccumulatedLosses 2020-06-30 10227317 c:FRS102 2020-07-01 2021-06-30 10227317 c:AuditExempt-NoAccountantsReport 2020-07-01 2021-06-30 10227317 c:FullAccounts 2020-07-01 2021-06-30 10227317 c:PrivateLimitedCompanyLtd 2020-07-01 2021-06-30 10227317 d:HirePurchaseContracts d:WithinOneYear 2021-06-30 10227317 d:HirePurchaseContracts d:WithinOneYear 2020-06-30 10227317 d:HirePurchaseContracts d:BetweenOneFiveYears 2021-06-30 10227317 d:HirePurchaseContracts d:BetweenOneFiveYears 2020-06-30 10227317 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2021-06-30 10227317 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2020-06-30 iso4217:GBP xbrli:pure
Registered number: 10227317





 
Diaz Property Renovations Limited          
 
Financial statements          

For the year ended 30 June 2021          

 
Diaz Property Renovations Limited
Registered number:10227317

Balance sheet
As at 30 June 2021


2021 

2020 
                                                                                    Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
59,989
31,738

Current assets
  

Stock
 5 
4,000
3,000

Debtors
 6 
85,877
36,804

Cash at bank and in hand
 7 
26,783
88,479

  
116,660
128,283

Creditors: amounts falling due within one year
 8 
(105,774)
(93,733)

Net current assets
  
 
 
10,886
 
 
34,550

Total assets less current liabilities
  
70,875
66,288

Creditors: amounts falling due after more than one year
 9 
(69,566)
(57,266)

  

Net assets
  
1,309
9,022


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,209
8,922

  
1,309
9,022


The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board; and were signed on its behalf on 10 August 2022.


Lewis Diaz
Director

The notes on pages 2 to 8 form part of these financial statements.
Page 1

 
Diaz Property Renovations Limited
 
 
Notes to the financial statements
For the year ended 30 June 2021

1.


General information

Diaz Property Renovations Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Unit 5, Springfield Industrial Estate, Springfield Road, Burnham-On-Crouch, Essex, CM0 8TE.  

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure. 

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 2

 
Diaz Property Renovations Limited
 
 
Notes to the financial statements
For the year ended 30 June 2021

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided at the following rates:

Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing  balance
Office equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3

 
Diaz Property Renovations Limited
 
 
Notes to the financial statements
For the year ended 30 June 2021

2.Accounting policies (continued)

 
2.9

Stock

Stock is stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each balance sheet date, stock is assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss. 

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 4

 
Diaz Property Renovations Limited
 
 
Notes to the financial statements
For the year ended 30 June 2021

3.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2021
        2020
            No.
            No.







Director
1
1



Staff
2
1

3
2


4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost 


At 1 July 2020
2,500
49,296
3,031
54,827


Additions
-
46,319
241
46,560



At 30 June 2021

2,500
95,615
3,272
101,387



Depreciation


At 1 July 2020
1,710
19,673
1,706
23,089


Charge for the year on owned assets
198
1,923
392
2,513


Charge for the year on financed assets
-
15,796
-
15,796



At 30 June 2021

1,908
37,392
2,098
41,398



Net book value



At 30 June 2021
592
58,223
1,174
59,989



At 30 June 2020
790
29,623
1,325
31,738

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2021
2020
£
£



Motor vehicles
46,099
24,260

Page 5

 
Diaz Property Renovations Limited
 
 
Notes to the financial statements
For the year ended 30 June 2021

5.


Stock

2021
2020
£
£

Raw materials and consumables
4,000
3,000



6.


Debtors

2021
2020
£
£


Trade debtors
1,056
838

Prepayments and accrued income
84,821
35,966

85,877
36,804



7.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
26,783
88,479



8.


Creditors: Amounts falling due within one year

2021
2020
£
£

Bank loans
8,000
1,773

Trade creditors
6,721
5,034

Corporation tax
7,951
7,951

Other taxation and social security
51,806
35,875

Obligations under finance lease and hire purchase contracts
7,788
4,618

Other creditors
19,508
36,482

Accruals and deferred income
4,000
2,000

105,774
93,733


Page 6

 
Diaz Property Renovations Limited
 
 
Notes to the financial statements
For the year ended 30 June 2021

9.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Bank loans
31,334
38,227

Net obligations under finance leases and hire purchase contracts
38,232
19,039

69,566
57,266



10.


Loans


Analysis of the maturity of loans is given below:


2021
2020
£
£

Amounts falling due within one year

Bank loans
8,000
1,773

Amounts falling due 1-2 years

Bank loans
8,000
6,693

Amounts falling due 2-5 years

Bank loans
23,334
24,883

Amounts falling due after more than 5 years

Bank loans
-
6,650

39,334
39,999


The bank loan comprises a Bounce Back Loan which is repayable by monthly installments over a six year period. The loan is interest free for the first year and is subject to an interest rate of 2.5% thereafter. The loan is unsecured.


11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2021
2020
£
£


Within one year
7,788
4,618

Between 1-5 years
38,232
19,039

46,020
23,657

Page 7

 
Diaz Property Renovations Limited
 
 
Notes to the financial statements
For the year ended 30 June 2021

12.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company  in an independently administered fund. The pension cost charge represents contributions payable by the company  to the fund and amounted to £838 (2020 - £Nil).

 
Page 8