BLUE DIAMOND ENGINEERING LIMITED

Company Registration Number:
02090988 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2023

Period of accounts

Start date: 01 April 2022

End date: 31 March 2023

BLUE DIAMOND ENGINEERING LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2023

Balance sheet
Notes

BLUE DIAMOND ENGINEERING LIMITED

Balance sheet

As at 31 March 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 2,837,879 2,054,715
Total fixed assets: 2,837,879 2,054,715
Current assets
Stocks: 125,000 75,000
Debtors: 4 894,731 1,285,548
Cash at bank and in hand: 101,199 255,942
Total current assets: 1,120,930 1,616,490
Creditors: amounts falling due within one year: 5 (1,435,941) (1,385,660)
Net current assets (liabilities): (315,011) 230,830
Total assets less current liabilities: 2,522,868 2,285,545
Creditors: amounts falling due after more than one year: 6 (1,592,611) (950,132)
Provision for liabilities: (300,000) (350,000)
Total net assets (liabilities): 630,257 985,413
Capital and reserves
Called up share capital: 41,000 50,000
Other reserves: 9,000
Profit and loss account: 580,257 935,413
Shareholders funds: 630,257 985,413

The notes form part of these financial statements

BLUE DIAMOND ENGINEERING LIMITED

Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 21 February 2024
and signed on behalf of the board by:

Name: CJ Brown
Status: Director

The notes form part of these financial statements

BLUE DIAMOND ENGINEERING LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

BLUE DIAMOND ENGINEERING LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

2. Employees

2023 2022
Average number of employees during the period 52 57

BLUE DIAMOND ENGINEERING LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Tangible Assets

Total
Cost £
At 01 April 2022 3,811,204
Additions 1,047,359
Disposals (39,053)
At 31 March 2023 4,819,510
Depreciation
At 01 April 2022 1,756,489
Charge for year 247,195
On disposals (22,053)
At 31 March 2023 1,981,631
Net book value
At 31 March 2023 2,837,879
At 31 March 2022 2,054,715

At 31st March 2023, the net book value of assets held under hire purchase agreements was £1,710,000, and secured by a fixed charge was £286,000.

BLUE DIAMOND ENGINEERING LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Debtors

2023
£
Debtors due after more than one year: 123,000

Debtors also include a total of £281,484 owed by a director at 31st March 2023. Please refer to note 7 for additional information

BLUE DIAMOND ENGINEERING LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

5. Creditors: amounts falling due within one year note

Trade creditors £477588Finance creditors £725365Taxation £127483Other £105505Total £1435941

BLUE DIAMOND ENGINEERING LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

6. Creditors: amounts falling due after more than one year note

Finance creditors: Due in years 2 to 5 £1,365,060Due in more than 5 years £227551Total £1,592,611

BLUE DIAMOND ENGINEERING LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

7. Loans to directors

Name of director receiving advance or credit: CJ Brown and JC Hedley
Description of the loan: Advance
£
Balance at 01 April 2022 415,000
Advances or credits made: 241,189
Advances or credits repaid: 374,705
Balance at 31 March 2023 281,484

J C Hedley resigned as a director on 3rd November 2022. The outstanding balance at 31st March 2023 relates to C J Brown only.All the director's loan account outstanding at 31st March 2023 has been cleared within 9 months of the year end, by the introduction of funds together with the voting of a dividend.8) PURCHASE OF OWN SHARESOn 3rd November 2022, the company pursuant to the powers contained in the Companies Act and its Articles of Association, agreed to purchase its own shares from distributable profits. The agreement was for 9000 ordinary shares to be purchased for cancellation, at a total price of £325,000, which was settled immediately.