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REGISTERED NUMBER: 00994918 (England and Wales)















Unaudited Financial Statements For The Year Ended 30 April 2023

for

Diesel-Electro Components Limited

Diesel-Electro Components Limited (Registered number: 00994918)






Contents of the Financial Statements
For The Year Ended 30 April 2023




Page

Company information 1

Balance sheet 2

Notes to the financial statements 3


Diesel-Electro Components Limited

Company Information
For The Year Ended 30 April 2023







Directors: P Pratt
A D Rose





Secretary: P Pratt





Registered office: 20 D Burnet Road
Sweet Briar Road Industrial Estate
Norwich
NR3 2BS





Registered number: 00994918 (England and Wales)





Accountants: SMD Accounts LLP
Chartered Certified Accountants
Suite 11, Manchester House
113 Northgate Street
Bury St Edmunds
Suffolk
IP33 1HP

Diesel-Electro Components Limited (Registered number: 00994918)

Balance Sheet
30 April 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Investment property 4 655,000 655,000

Current assets
Debtors 5 22,134 27,437
Cash at bank 47,305 59,011
69,439 86,448
Creditors
Amounts falling due within one year 6 22,696 34,345
Net current assets 46,743 52,103
Total assets less current liabilities 701,743 707,103

Provisions for liabilities 7 210 210
Net assets 701,533 706,893

Capital and reserves
Called up share capital 8 200 200
Capital redemption reserve 800 800
Fair value reserve 63,053 63,143
Retained earnings 637,480 642,750
Shareholders' funds 701,533 706,893

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 October 2023 and were signed on its behalf by:




A D Rose - Director



P Pratt - Director


Diesel-Electro Components Limited (Registered number: 00994918)

Notes to the Financial Statements
For The Year Ended 30 April 2023

1. Statutory information

Diesel-Electro Components Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The directors have reviewed the financial situation of the company and feel it is appropriate to prepare the financial statements on the going concern basis. The directors believe there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

Taxation
The tax expense represents the sum of the current tax expense and deferred tax expense. Current tax assets are recognised when tax paid exceeds the tax payable.

Current and deferred tax is charged or credited to profit or loss, except when it relates to items charged or credited to other comprehensive income or equity, when the tax follows the transaction or event it relates to and is also charged or credited to other comprehensive income, or equity.

Current tax assets and current tax liabilities and deferred tax assets and deferred tax liabilities are offset, if and only if, there is a legally enforceable right to set off the amounts and the entity intends either to settle on the net basis or to realise the asset and settle the liability simultaneously.

Current tax is based on taxable profit for the year. Current tax assets and liabilities are measured using tax rates that have been enacted or substantively enacted by the reporting date.

Deferred tax
Deferred tax is calculated at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled based on tax rates that have been enacted or substantively enacted by the reporting date.

Deferred tax liabilities are recognised in respect of all timing differences that exist at the reporting date. Timing differences are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in different periods from their recognition in the financial statements. Deferred tax assets are recognised only to the extent that it is probable that they will be recovered by the reversal of deferred tax liabilities or other future taxable profits.

For investment properties measured at fair value, deferred tax is measured using the tax rates and allowances that apply to the sale of the asset or property.

Diesel-Electro Components Limited (Registered number: 00994918)

Notes to the Financial Statements - continued
For The Year Ended 30 April 2023

2. Accounting policies - continued

Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

3. Employees and directors

The average number of employees during the year was 2 (2022 - 2 ) .

4. Investment property
Total
£   
Fair value
At 1 May 2022
and 30 April 2023 655,000
Net book value
At 30 April 2023 655,000
At 30 April 2022 655,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out at the year end by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

On a historical cost basis the investment property would have been included at an original cost of £591,697 (2022: £591,697).

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 16,709 22,012
Other debtors 5,425 5,425
22,134 27,437

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 15 7,812
Taxation and social security 10,541 14,079
Other creditors 12,140 12,454
22,696 34,345

7. Provisions for liabilities
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 210 210

Diesel-Electro Components Limited (Registered number: 00994918)

Notes to the Financial Statements - continued
For The Year Ended 30 April 2023

7. Provisions for liabilities - continued

Deferred
tax
£   
Balance at 1 May 2022 210
Balance at 30 April 2023 210

8. Called up share capital




Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary A £1 100 100
50 Ordinary B £1 50 50
50 Ordinary C £1 50 50
200 200

The shares rank pari passu in all respects, subject to dividend rights.