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REGISTERED NUMBER: 07130178 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31 January 2023

for

DIAMOND CONSULTANTS LIMITED

DIAMOND CONSULTANTS LIMITED (REGISTERED NUMBER: 07130178)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


DIAMOND CONSULTANTS LIMITED (REGISTERED NUMBER: 07130178)

Balance Sheet
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 182 242

CURRENT ASSETS
Debtors 5 4,427 4,800
Cash at bank 20 20
4,447 4,820
CREDITORS
Amounts falling due within one year 6 40,034 52,564
NET CURRENT LIABILITIES (35,587 ) (47,744 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(35,405

)

(47,502

)

CREDITORS
Amounts falling due after more than one year 7 (626,291 ) (580,630 )

PROVISIONS FOR LIABILITIES (35 ) (46 )
NET LIABILITIES (661,731 ) (628,178 )

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings (662,031 ) (628,478 )
SHAREHOLDERS' FUNDS (661,731 ) (628,178 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

DIAMOND CONSULTANTS LIMITED (REGISTERED NUMBER: 07130178)

Balance Sheet - continued
31 January 2023


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 23 October 2023 and were signed on its behalf by:





Shafiq Choudhary - Director


DIAMOND CONSULTANTS LIMITED (REGISTERED NUMBER: 07130178)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Diamond Consultants Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07130178

Registered office: 2 Wheeleys Road
Edgbaston
Birmingham
West Midlands
B15 2LD

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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

DIAMOND CONSULTANTS LIMITED (REGISTERED NUMBER: 07130178)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 February 2022
and 31 January 2023 6,107
DEPRECIATION
At 1 February 2022 5,865
Charge for year 60
At 31 January 2023 5,925
NET BOOK VALUE
At 31 January 2023 182
At 31 January 2022 242

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 4,000 4,800
VAT 427 -
4,427 4,800

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 18,428 24,221
Trade creditors - 909
Social security and other taxes 4,690 -
VAT - 11,928
Accrued expenses 16,916 15,506
40,034 52,564

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bounce back loan 35,938 46,378
Director's account over 5 year 590,353 534,252
626,291 580,630

DIAMOND CONSULTANTS LIMITED (REGISTERED NUMBER: 07130178)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Director's account over 5 year 590,353 534,252

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2023 and 31 January 2022:

2023 2022
£    £   
Shafiq Choudhary and Robina Shafiq
Balance outstanding at start of year (534,252 ) (581,183 )
Amounts advanced 15,965 72,696
Amounts repaid (72,066 ) (25,765 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (590,353 ) (534,252 )

9. ULTIMATE CONTROLLING PARTY

Ultimate controlling parties are the shareholders