Company registration number 08658606 (England and Wales)
DIESEL (SNOWHILL) LIMITED,
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
DIESEL (SNOWHILL) LIMITED,
COMPANY INFORMATION
Directors
Mr M A Flanagan
(Appointed 18 July 2022)
Zaza International Limited
Company number
08658606
Registered office
C/O Wilton UK (Group) Limited
17 Hanover Square
London
United Kingdom
W1S 1BN
Accountants
Wilton UK (Group) Limited
C/O Wilton UK (Group) Limited
17 Hanover Square
London
United Kingdom
W1S 1BN
DIESEL (SNOWHILL) LIMITED,
CONTENTS
Page
Directors' report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Notes to the financial statements
5 - 6
DIESEL (SNOWHILL) LIMITED,
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 AUGUST 2022
- 1 -
The directors present their annual report and financial statements for the year ended 31 August 2022.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mr M A Flanagan
(Appointed 18 July 2022)
Zaza International Limited
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Mr M A Flanagan
Director
8 February 2024
DIESEL (SNOWHILL) LIMITED,
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF DIESEL (SNOWHILL) LIMITED,
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Diesel (Snowhill) Limited, for the year ended 31 August 2022 Which comprise the Profit and Loss account, Balance Sheet and related notes from the company’s accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Diesel (Snowhill) Limited,, as a body, in accordance with the terms of our engagement letter dated .18 May 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Diesel (Snowhill) Limited, and state those matters that we have agreed to state to the Board of Directors of Diesel (Snowhill) Limited,, as a body, in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Diesel (Snowhill) Limited, and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Diesel (Snowhill) Limited, has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Diesel (Snowhill) Limited,. You consider that Diesel (Snowhill) Limited, is exempt from the statutory audit requirement for the year.
Wilton UK (Group) Limited
8 February 2024
Accountants
C/O Wilton UK (Group) Limited
17 Hanover Square
London
United Kingdom
W1S 1BN
DIESEL (SNOWHILL) LIMITED,
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2022
- 3 -
2022
2021
£
£
Administrative expenses
(6,300)
Loss before taxation
(6,300)
Tax on loss
(Loss) for the financial year
(6,300)
-
DIESEL (SNOWHILL) LIMITED,
BALANCE SHEET
AS AT
31 AUGUST 2022
31 August 2022
- 4 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
861,450
850,000
Current assets
-
-
Creditors: amounts falling due within one year
4
(1,800)
Net current liabilities
(1,800)
Total assets less current liabilities
859,650
850,000
Creditors: amounts falling due after more than one year
5
(1,424,541)
(1,408,591)
Net liabilities
(564,891)
(558,591)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
(564,893)
(558,593)
Total equity
(564,891)
(558,591)
The notes on pages 5 to 6 form part of these financial statements.
For the financial year ended 31 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 8 February 2024 and are signed on its behalf by:
Mr M A Flanagan
Director
Company Registration No. 08658606
DIESEL (SNOWHILL) LIMITED,
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
- 5 -
1
Accounting policies
Company information
Diesel (Snowhill) Limited, is a private company limited by shares incorporated in England and Wales. The registered office is C/O Wilton UK (Group) Limited, 17 Hanover Square, London, United Kingdom, W1S 1BN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
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 financial instruments at fair value]. The principal accounting policies adopted are set out below.
Freehold land and buildings
Enter depreciation rate via StatDB - cd74
1.2
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 current liabilities.
1.3
Financial instruments
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable 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.
1.4
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
DIESEL (SNOWHILL) LIMITED,
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2022
- 6 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 September 2021
850,000
Additions
11,450
At 31 August 2022
861,450
Depreciation and impairment
At 1 September 2021 and 31 August 2022
Carrying amount
At 31 August 2022
861,450
At 31 August 2021
850,000
4
Creditors: amounts falling due within one year
2022
2021
£
£
Other creditors
1,800
5
Creditors: amounts falling due after more than one year
2022
2021
£
£
Trade creditors
1,424,541
1,408,591