Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31No description of principal activity2020-12-01false2824falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03372744 2020-12-01 2021-12-31 03372744 2021-12-31 03372744 2019-06-01 2020-11-30 03372744 2020-11-30 03372744 c:Director1 2020-12-01 2021-12-31 03372744 c:Director2 2020-12-01 2021-12-31 03372744 c:Director4 2020-12-01 2021-12-31 03372744 c:RegisteredOffice 2020-12-01 2021-12-31 03372744 d:PlantMachinery 2020-12-01 2021-12-31 03372744 d:MotorVehicles 2020-12-01 2021-12-31 03372744 d:MotorVehicles 2021-12-31 03372744 d:MotorVehicles 2020-11-30 03372744 d:MotorVehicles d:OwnedOrFreeholdAssets 2020-12-01 2021-12-31 03372744 d:FurnitureFittings 2020-12-01 2021-12-31 03372744 d:FurnitureFittings 2021-12-31 03372744 d:FurnitureFittings 2020-11-30 03372744 d:FurnitureFittings d:OwnedOrFreeholdAssets 2020-12-01 2021-12-31 03372744 d:OwnedOrFreeholdAssets 2020-12-01 2021-12-31 03372744 d:PatentsTrademarksLicencesConcessionsSimilar 2020-12-01 2021-12-31 03372744 d:PatentsTrademarksLicencesConcessionsSimilar 2021-12-31 03372744 d:PatentsTrademarksLicencesConcessionsSimilar 2020-11-30 03372744 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2020-12-01 2021-12-31 03372744 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2021-12-31 03372744 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2020-11-30 03372744 d:Goodwill 2020-12-01 2021-12-31 03372744 d:Goodwill 2021-12-31 03372744 d:Goodwill 2020-11-30 03372744 d:CurrentFinancialInstruments 2021-12-31 03372744 d:CurrentFinancialInstruments 2020-11-30 03372744 d:Non-currentFinancialInstruments 2021-12-31 03372744 d:Non-currentFinancialInstruments 2020-11-30 03372744 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 03372744 d:CurrentFinancialInstruments d:WithinOneYear 2020-11-30 03372744 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 03372744 d:Non-currentFinancialInstruments d:AfterOneYear 2020-11-30 03372744 d:ShareCapital 2021-12-31 03372744 d:ShareCapital 2020-11-30 03372744 d:CapitalRedemptionReserve 2021-12-31 03372744 d:CapitalRedemptionReserve 2020-11-30 03372744 d:RetainedEarningsAccumulatedLosses 2021-12-31 03372744 d:RetainedEarningsAccumulatedLosses 2020-11-30 03372744 c:FRS102 2020-12-01 2021-12-31 03372744 c:AuditExempt-NoAccountantsReport 2020-12-01 2021-12-31 03372744 c:FullAccounts 2020-12-01 2021-12-31 03372744 c:PrivateLimitedCompanyLtd 2020-12-01 2021-12-31 03372744 d:WithinOneYear 2021-12-31 03372744 d:WithinOneYear 2020-11-30 03372744 d:BetweenOneFiveYears 2021-12-31 03372744 d:BetweenOneFiveYears 2020-11-30 03372744 d:PatentsTrademarksLicencesConcessionsSimilar d:ExternallyAcquiredIntangibleAssets 2020-12-01 2021-12-31 03372744 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2020-12-01 2021-12-31 03372744 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2020-12-01 2021-12-31 03372744 d:ExternallyAcquiredIntangibleAssets 2020-12-01 2021-12-31 03372744 d:Goodwill d:OwnedIntangibleAssets 2020-12-01 2021-12-31 03372744 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2020-12-01 2021-12-31 03372744 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2020-12-01 2021-12-31 iso4217:GBP xbrli:pure
Company registration number: 03372744







UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 DECEMBER 2021


DIAMOND LOGISTICS LIMITED






































img4cfc.png                        

 


DIAMOND LOGISTICS LIMITED
 


 
COMPANY INFORMATION


Directors
K L Lester 
D Allin 
N Wainwright 




Registered number
03372744



Registered office
Unit 3C
Henley Business Park Pirbright Road

Normandy

Guildford

Surrey

GU3 2DX




Accountants
Menzies LLP
Chartered Accountants

Victoria House

50-58 Victoria Road

Farnborough

Hampshire

GU14 7PG





 


DIAMOND LOGISTICS LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 8


 


DIAMOND LOGISTICS LIMITED
REGISTERED NUMBER:03372744



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2021

31 December
30 November
2021
2020
Note
£
£

Fixed assets
  

Intangible assets
 4 
1,366,674
1,035,423

Tangible assets
 5 
116,515
125,050

  
1,483,189
1,160,473

Current assets
  

Debtors: amounts falling due within one year
 6 
1,170,400
1,145,164

Cash at bank and in hand
  
999,465
414,428

  
2,169,865
1,559,592

Creditors: amounts falling due within one year
 7 
(1,107,162)
(1,448,112)

Net current assets
  
 
 
1,062,703
 
 
111,480

Total assets less current liabilities
  
2,545,892
1,271,953

Creditors: amounts falling due after more than one year
 8 
(2,484,958)
(899,830)

Provisions for liabilities
  

Deferred tax
  
(251,556)
(181,298)

  
 
 
(251,556)
 
 
(181,298)

Net (liabilities)/assets
  
(190,622)
190,825


Capital and reserves
  

Allotted, called up and fully paid share capital
  
1,900
1,900

Capital redemption reserve
  
5
5

Profit and loss account
  
(192,527)
188,920

  
(190,622)
190,825


Page 1

 


DIAMOND LOGISTICS LIMITED
REGISTERED NUMBER:03372744


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2021

The Directors consider 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 period in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered 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 by: 




................................................
K L Lester
Director

Date: 4 July 2022

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 


DIAMOND LOGISTICS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

1.


General information

Diamond Logistics Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office which is also the principal place of business is disclosed on the company information page.
The directors have decided to change the company's year end to 31 December to tie in with the rest of the group. These accounts therefore cover a 13 month period to 31 December 21. The prior year accounts were for an 18 month period ended 30 November 2021.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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. 

 
2.3

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Trademarks
-
3
years straight line
Development expenditure
-
10
years straight line

Page 3

 


DIAMOND LOGISTICS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.4

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Fixtures, fittings and computer equipment
-
33%
straight line
Motor vehicles
-
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.

 
2.5

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.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

 
2.6

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

Page 4

 


DIAMOND LOGISTICS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.7

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

  
2.9

Group accounts

The company is exempt from the requirement to prepare group accounts under Companies Act 2006 s399 (2A) as it is subject to the small companies regime.


3.


Employees

The average monthly number of employees, including directors, during the period was 28 (2020 - 24).

Page 5

 


DIAMOND LOGISTICS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

4.


Intangible assets






Trademarks
Development expenditure
Goodwill
Total

£
£
£
£



Cost


At 1 December 2020
30,969
1,198,573
300,000
1,529,542


Additions
14,440
481,706
-
496,146



At 31 December 2021

45,409
1,680,279
300,000
2,025,688



Amortisation


At 1 December 2020
20,835
173,284
300,000
494,119


Charge for the period on owned assets
8,863
156,032
-
164,895



At 31 December 2021

29,698
329,316
300,000
659,014



Net book value



At 31 December 2021
15,711
1,350,963
-
1,366,674



At 30 November 2020
10,134
1,025,289
-
1,035,423



Page 6

 


DIAMOND LOGISTICS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

5.


Tangible fixed assets







Fixtures, fittings and computer equipment
Motor vehicles
Total

£
£
£



Cost or valuation


At 1 December 2020
108,771
131,747
240,518


Additions
30,710
-
30,710


Disposals
-
(33,317)
(33,317)



At 31 December 2021

139,481
98,430
237,911



Depreciation


At 1 December 2020
85,665
29,803
115,468


Charge for the period on owned assets
16,823
17,531
34,354


Disposals
-
(28,426)
(28,426)



At 31 December 2021

102,488
18,908
121,396



Net book value



At 31 December 2021
36,993
79,522
116,515



At 30 November 2020
23,106
101,944
125,050


6.


Debtors

31 December
30 November
2021
2020
£
£


Trade debtors
746,927
864,246

Other debtors
125,749
175,917

Prepayments and accrued income
152,448
39,965

Tax recoverable
145,276
65,036

1,170,400
1,145,164


Included within other debtors due within one year are balances due from directors of £79,949  (2020: £132,068). The loans are interest free and repayable on demand.

Page 7

 


DIAMOND LOGISTICS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

7.


Creditors: Amounts falling due within one year

31 December
30 November
2021
2020
£
£

Bank loans
40,833
194,232

Trade creditors
249,653
368,699

Amounts owed to group undertakings
3,729
14,865

Corporation tax
25,984
-

Other taxation and social security
85,867
129,155

Obligations under finance lease and hire purchase contracts
14,061
14,061

Other creditors
613,010
627,592

Accruals and deferred income
74,025
99,508

1,107,162
1,448,112



8.


Creditors: Amounts falling due after more than one year

31 December
30 November
2021
2020
£
£

Bank loans
2,426,817
826,455

Net obligations under finance leases and hire purchase contracts
58,141
73,375

2,484,958
899,830



9.


Commitments under operating leases

At 31 December 2021 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

31 December
30 November
2021
2020
£
£


Not later than 1 year
153,791
153,791

Later than 1 year and not later than 5 years
305,411
472,018

459,202
625,809

 
Page 8