2022-08-012023-07-312023-07-31false04473359DIAMOND WINDOW SYSTEMS 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DIAMOND WINDOW SYSTEMS LIMITED

Registered Number
04473359
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2023

DIAMOND WINDOW SYSTEMS LIMITED
Company Information
for the year from 1 August 2022 to 31 July 2023

Director

LEE, Richard Philip

Company Secretary

LEE, Catherine

Registered Address

Unit 15 Unity Road, Lowmoor Business Park
Kirkby-In-Ashfield
Nottingham
NG17 7LE

Registered Number

04473359 (England and Wales)
DIAMOND WINDOW SYSTEMS LIMITED
Balance Sheet as at
31 July 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets313,50013,500
Tangible assets4621,113617,828
634,613631,328
Current assets
Stocks224,227178,542
Debtors81,06247,683
Cash at bank and on hand233,703298,044
538,992524,269
Creditors amounts falling due within one year(577,589)(586,661)
Net current assets (liabilities)(38,597)(62,392)
Total assets less current liabilities596,016568,936
Creditors amounts falling due after one year(37,888)(16,880)
Net assets558,128552,056
Capital and reserves
Called up share capital22
Profit and loss account558,126552,054
Shareholders' funds558,128552,056
The financial statements were approved and authorised for issue by the Director on 4 March 2024, and are signed on its behalf by:
LEE, Richard Philip
Director
Registered Company No. 04473359
DIAMOND WINDOW SYSTEMS LIMITED
Notes to the Financial Statements
for the year ended 31 July 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20232022
Average number of employees during the year2120
3.Intangible assets

Total

£
Cost or valuation
At 01 August 2230,000
At 31 July 2330,000
Amortisation and impairment
At 01 August 2216,500
At 31 July 2316,500
Net book value
At 31 July 2313,500
At 31 July 2213,500
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 August 221,282,325
Additions49,441
At 31 July 231,329,988
Depreciation and impairment
At 01 August 22664,497
Charge for year46,156
At 31 July 23708,874
Net book value
At 31 July 23621,113
At 31 July 22617,828