Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31No description of principal activity22022-04-012falsetruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06097645 2022-03-31 06097645 2022-04-01 2023-03-31 06097645 2021-06-01 2022-05-31 06097645 2023-03-31 06097645 2022-05-31 06097645 c:Director1 2022-04-01 2023-03-31 06097645 c:Director2 2022-04-01 2023-03-31 06097645 c:RegisteredOffice 2022-04-01 2023-03-31 06097645 d:FreeholdInvestmentProperty 2022-04-01 2023-03-31 06097645 d:FreeholdInvestmentProperty 2023-03-31 06097645 d:FreeholdInvestmentProperty 2022-05-31 06097645 d:CurrentFinancialInstruments 2023-03-31 06097645 d:CurrentFinancialInstruments 2022-05-31 06097645 c:FRS102 2022-04-01 2023-03-31 06097645 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 06097645 c:FullAccounts 2022-04-01 2023-03-31 06097645 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 06097645 6 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure
Company registration number: 06097645







UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 MARCH 2023


DIAMOND PROPERTY INVESTMENTS LIMITED






































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DIAMOND PROPERTY INVESTMENTS LIMITED
 


 
COMPANY INFORMATION


Directors
A. R. Dunn 
K. J. Dunn 




Registered number
06097645



Registered office
Ashcombe House
5 The Crescent

Leatherhead

Surrey

KT22 8DY




Accountants
Menzies LLP
Chartered Accountants

Ashcombe House

5 The Crescent

Leatherhead

Surrey

KT22 8DY





 


DIAMOND PROPERTY INVESTMENTS LIMITED
 



CONTENTS



Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 7


 


DIAMOND PROPERTY INVESTMENTS LIMITED
REGISTERED NUMBER:06097645



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

31 March 2023
31 May 2022
Note
£
£

  

Fixed assets
  

Investments
 4 
-
1,890,000

Investment property
 5 
340,000
782,000

  
340,000
2,672,000

Current assets
  

Debtors: amounts falling due within one year
 6 
132,317
15,634

Cash at bank and in hand
  
2,033,360
220

  
2,165,677
15,854

Creditors: amounts falling due within one year
 7 
(8,839)
(486,915)

Net current assets/(liabilities)
  
 
 
2,156,838
 
 
(471,061)

Total assets less current liabilities
  
2,496,838
2,200,939

  

  

  

Net assets
  
2,496,838
2,200,939


Capital and reserves
  

Allotted, called up and fully paid share capital
  
2,300,100
2,300,100

Profit and loss account
  
196,738
(99,161)

  
2,496,838
2,200,939


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.
 
Page 1

 


DIAMOND PROPERTY INVESTMENTS LIMITED
REGISTERED NUMBER:06097645


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

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: 


A. R. Dunn
Director

Date: 17 November 2023

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 


DIAMOND PROPERTY INVESTMENTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

1.


General information

Diamond Property Investments Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office is disclosed on the company information page. The principal place of business is Ditton Lodge, Portsmouth Road, Thames Ditton, Surrey, KT7 0HB.
During the period the company changed it's accounting reference date from 31 May to 31 March in order to be in line with the HMRC tax year end.

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 derived from the income received from the rental of residential property and 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

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
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.

Page 3

 


DIAMOND PROPERTY INVESTMENTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

  
2.7

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of income and retained earnings.

 
2.8

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

Page 4

 


DIAMOND PROPERTY INVESTMENTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

3.


Employees

The average monthly number of employees, including the directors, during the period was as follows:


Period ended 31 March 2023
Year ended 31 May 2022
            No.
            No.







Directors
2
2


4.


Fixed asset investments





Investments in subsidiary companies

£





At 1 June 2022
1,890,000


Amounts written off
(1,063,115)


Disposals
(826,885)



At 31 March 2023
-






Net book value



At 31 March 2023
-



At 31 May 2022
1,890,000

On 9 August 2022 the company disposed of its subsidiary undertaking, prior to sale the investment value was assessed as being lower than previously valued. The value of the investment was reduced to £826,885, which was the consideration received upon the sale.

Page 5

 


DIAMOND PROPERTY INVESTMENTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

5.


Investment property


Freehold investment property

£



Valuation


At 1 June 2022
782,000


Disposals
(442,000)



At 31 March 2023
340,000

The 2023 valuations were made by the directors, on an open market value for existing use basis.





6.


Debtors

31 March 2023
31 May 2022
£
£


Trade debtors
62,656
-

Other debtors
35,236
1,961

Prepayments and accrued income
2,049
2,955

Deferred taxation
32,376
10,718

132,317
15,634



7.


Creditors: Amounts falling due within one year

31 March 2023
31 May 2022
£
£

Mortgages
-
386,887

Trade creditors
1,224
1,351

Corporation tax
-
365

Other creditors
1,961
91,049

Accruals and deferred income
5,654
7,263

8,839
486,915


Page 6

 


DIAMOND PROPERTY INVESTMENTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

8.


Transactions with the directors


31 March 2023
31 May 2022
£
£
Balance outstanding at the start of the year/period

(89,088)

(146,989)
 
Amounts advanced

109,001

61,429
 
Amounts repaid

(6,138)

(3,528)
 
Balance outstanding at the end of the year/period
13,775

(89,088)
 

The director intends to repay the outstanding balance on his loan account within 9 months of the period end. Interest has been charged on this loan at a rate of 2%.

 
Page 7