Silverfin false 31/03/2023 01/04/2022 31/03/2023 J Gerber D Gerber 17/02/2009 G Gerber 02/02/2012 05 February 2024 The principal activity of the Company during the financial year was that of property investment. SC028453 2023-03-31 SC028453 bus:Director2 2023-03-31 SC028453 bus:Director3 2023-03-31 SC028453 2022-03-31 SC028453 core:CurrentFinancialInstruments 2023-03-31 SC028453 core:CurrentFinancialInstruments 2022-03-31 SC028453 core:Non-currentFinancialInstruments 2023-03-31 SC028453 core:Non-currentFinancialInstruments 2022-03-31 SC028453 core:ShareCapital 2023-03-31 SC028453 core:ShareCapital 2022-03-31 SC028453 core:RevaluationReserve 2023-03-31 SC028453 core:RevaluationReserve 2022-03-31 SC028453 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC028453 core:RetainedEarningsAccumulatedLosses 2022-03-31 SC028453 2021-03-31 SC028453 bus:OrdinaryShareClass1 2023-03-31 SC028453 2022-04-01 2023-03-31 SC028453 bus:FullAccounts 2022-04-01 2023-03-31 SC028453 bus:SmallEntities 2022-04-01 2023-03-31 SC028453 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 SC028453 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 SC028453 bus:Director1 2022-04-01 2023-03-31 SC028453 bus:Director2 2022-04-01 2023-03-31 SC028453 bus:Director3 2022-04-01 2023-03-31 SC028453 2021-04-01 2022-03-31 SC028453 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 SC028453 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC028453 (Scotland)

DIANA (GLASGOW) LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

DIANA (GLASGOW) LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

DIANA (GLASGOW) LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
DIANA (GLASGOW) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Investment property 3 115,000 115,000
115,000 115,000
Current assets
Debtors 4 7,853 3,558
Cash at bank and in hand 68,360 73,517
76,213 77,075
Creditors: amounts falling due within one year 5 ( 11,107) ( 19,330)
Net current assets 65,106 57,745
Total assets less current liabilities 180,106 172,745
Creditors: amounts falling due after more than one year ( 26,962) ( 26,962)
Net assets 153,144 145,783
Capital and reserves
Called-up share capital 7 500 500
Revaluation reserve 80,884 80,884
Profit and loss account 71,760 64,399
Total shareholders' funds 153,144 145,783

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 financial statements of Diana (Glasgow) Limited (registered number: SC028453) were approved and authorised for issue by the Director. They were signed on its behalf by:

J Gerber
Director

05 February 2024

DIANA (GLASGOW) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
DIANA (GLASGOW) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Diana (Glasgow) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is George House, 36 North Hanover Street, Glasgow, G1 2AD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises revenue recognised by the company in respect of rents and management charges on an accruals basis.

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and 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 and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Investment property

Investment property
£
Valuation
As at 01 April 2022 115,000
As at 31 March 2023 115,000

4. Debtors

2023 2022
£ £
Other debtors 7,853 3,558

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 3,156 2,880
Taxation and social security 3,415 1,685
Other creditors 4,536 14,765
11,107 19,330

6. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 26,962) ( 26,962)
At the end of financial year ( 26,962) ( 26,962)

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
500 Ordinary shares of £ 1.00 each 500 500