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Registration number: NI623613

Diffusion Investments Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Diffusion Investments Limited

(Registration number: NI623613)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

110,994

110,994

Current assets

 

Debtors

5

10

105,857

Cash at bank and in hand

 

225,130

144,339

 

225,140

250,196

Net assets

 

336,134

361,190

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

336,034

361,090

Shareholders' funds

 

336,134

361,190

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Diffusion Investments Limited

(Registration number: NI623613)
Balance Sheet as at 31 March 2023

Approved and authorised by the Board on 19 October 2023 and signed on its behalf by:
 

.........................................
Mrs Vivien Corr
Director

.........................................
Mrs Janice Piper
Director

 

Diffusion Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: Unit 3, 6 Springfarm Industrial Estate, Antrim, Co. Antrim, BT41 4NZ.

These financial statements were authorised for issue by the Board on 19 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Diffusion Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

4

Investments

2023
£

2022
£

Investments in subsidiaries

110,994

110,994

Subsidiaries

£

Cost or valuation

At 1 April 2022

110,994

Provision

Carrying amount

At 31 March 2023

110,994

At 31 March 2022

110,994

The Company holds 100% of the shares in its subsidiary Diffusion (NI) Limited.

 

Diffusion Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

5

Debtors

2023
£

2022
£

Amounts owed by related parties

-

105,847

Other debtors

10

10

10

105,857

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100