Diamond Landscaping (Guildford) Limited
Registered number: 07269819
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 9,970 17,948
Current assets
Debtors 4 22,559 22,394
Cash at bank and in hand 2,091 843
24,650 23,237
Creditors: amounts falling due within one year 5 (22,848) (18,221)
Net current assets 1,802 5,016
Total assets less current liabilities 11,772 22,964
Creditors: amounts falling due after more than one year 6 (14,030) (23,979)
Net liabilities (2,258) (1,015)
Capital and reserves
Called up share capital 6 6
Profit and loss account (2,264) (1,021)
Shareholders' funds (2,258) (1,015)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Steve Preston
Director
Approved by the board on 1 November 2023
Diamond Landscaping (Guildford) Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
1 Accounting policies (continued)
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 April 2022 - 35,896 35,896
Additions 996 - 996
At 1 April 2021 & 31 March 2023 996 35,896 36,892
Depreciation
At 1 April 2022 - 17,948 17,948
Charge for the year - 8,974 8,974
At 31 March 2023 - 26,922 26,922
Net book value
At 31 March 2023 996 8,974 9,970
At 31 March 2022 - 17,948 17,948
4 Debtors 2023 2022
£ £
Trade debtors - 5,250
Amounts owed by associated companies 22,559 9,144
Other debtors - 8,000
22,559 22,394
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 5,000 5,000
Obligations under finance lease and hire purchase contracts 4,474 4,474
Trade creditors 4,638 4,491
Corporation tax 8,078 4,192
Other taxes and social security costs 312 279
Other creditors 346 (215)
22,848 18,221
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 10,675 16,150
Obligations under finance lease and hire purchase contracts 3,355 7,829
14,030 23,979
7 Other information
Diamond Landscaping (Guildford) Limited is a private company limited by shares and incorporated in England. Its registered office is 6 Holmes Close, Woking, Surrey, GU22 9LU
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