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REGISTERED NUMBER: SC174433 (Scotland)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

DIAMAC ENGINEERING LIMITED

DIAMAC ENGINEERING LIMITED (REGISTERED NUMBER: SC174433)

Contents of the Financial Statements
for the Year Ended 31 August 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DIAMAC ENGINEERING LIMITED

Company Information
for the Year Ended 31 August 2023







DIRECTORS: S H D Cowie
A Polson





REGISTERED OFFICE: Unit 4
Woodend Business Centre
Cowdenbeath
Fife
KY4 8HG





REGISTERED NUMBER: SC174433 (Scotland)






DIAMAC ENGINEERING LIMITED (REGISTERED NUMBER: SC174433)

Balance Sheet
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 184,912 204,528

CURRENT ASSETS
Stocks 46,652 61,100
Debtors 5 188,610 153,763
Cash at bank and in hand 116,977 139,185
352,239 354,048
CREDITORS
Amounts falling due within one year 6 97,408 65,649
NET CURRENT ASSETS 254,831 288,399
TOTAL ASSETS LESS CURRENT
LIABILITIES

439,743

492,927

CREDITORS
Amounts falling due after more than one
year

7

(23,847

)

(32,888

)

PROVISIONS FOR LIABILITIES (35,134 ) (36,645 )
NET ASSETS 380,762 423,394

CAPITAL AND RESERVES
Called up share capital 1 1
Capital redemption reserve 3 3
Retained earnings 380,758 423,390
380,762 423,394

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

DIAMAC ENGINEERING LIMITED (REGISTERED NUMBER: SC174433)

Balance Sheet - continued
31 August 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 March 2024 and were signed on its behalf by:





S H D Cowie - Director


DIAMAC ENGINEERING LIMITED (REGISTERED NUMBER: SC174433)

Notes to the Financial Statements
for the Year Ended 31 August 2023


1. STATUTORY INFORMATION

Diamac Engineering Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 5% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

DIAMAC ENGINEERING LIMITED (REGISTERED NUMBER: SC174433)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 September 2022
and 31 August 2023 734,183 13,414 7,516 755,113
DEPRECIATION
At 1 September 2022 530,709 12,679 7,197 550,585
Charge for year 19,359 184 73 19,616
At 31 August 2023 550,068 12,863 7,270 570,201
NET BOOK VALUE
At 31 August 2023 184,115 551 246 184,912
At 31 August 2022 203,474 735 319 204,528

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 174,595 134,451
Other debtors 14,015 19,312
188,610 153,763

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 10,220 11,399
Trade creditors 34,191 30,738
Amounts owed to group undertakings 14,353 -
Taxation and social security 36,155 19,731
Other creditors 2,489 3,781
97,408 65,649

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 23,847 32,888

8. PARENT COMPANY

The company's ultimate parent company is Enerquip Manufacturing Limited and its registered office is 5 Carden Place, Aberdeen, AB10 1UT.