REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 19 April 2022 to 30 April 2023 |
for |
Diamond Property & Investments Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 19 April 2022 to 30 April 2023 |
for |
Diamond Property & Investments Ltd |
Diamond Property & Investments Ltd (Registered number: 14053597) |
Contents of the Financial Statements |
for the Period 19 April 2022 to 30 April 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Diamond Property & Investments Ltd |
Company Information |
for the Period 19 April 2022 to 30 April 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
140 Coniscliffe Road |
DARLINGTON |
Co Durham |
DL3 7RT |
Diamond Property & Investments Ltd (Registered number: 14053597) |
Balance Sheet |
30 April 2023 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET LIABILITIES | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
The director acknowledges her 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. |
Diamond Property & Investments Ltd (Registered number: 14053597) |
Balance Sheet - continued |
30 April 2023 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Diamond Property & Investments Ltd (Registered number: 14053597) |
Notes to the Financial Statements |
for the Period 19 April 2022 to 30 April 2023 |
1. | STATUTORY INFORMATION |
Diamond Property & Investments Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A 'Small Entities' of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets. |
There were no material departures from that standard. |
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Income Recognition |
Rental income is recognised in accordance with the contractual terms of the lease. |
Investments in associates |
Investments in associate undertakings are recognised at cost. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Financial instruments |
Basic financial instruments are recognised at amortised cost with changes recognised in profit and loss. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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. |
Diamond Property & Investments Ltd (Registered number: 14053597) |
Notes to the Financial Statements - continued |
for the Period 19 April 2022 to 30 April 2023 |
2. | ACCOUNTING POLICIES - continued |
Going concern |
The directors assess whether the use of going concern is appropriate i.e. if there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The directors make this assessment in respect of a period of a least one year from the date the financial statements are approved. |
The company has net liabilities at 30 April 2023. Due to the continuing support of the director it is considered to be a going concern. |
The financial statements are prepared on the going concern basis which assumes that the company will continue to trade. If the company is unable to continue to trade, adjustments would be required to reduce the value of the assets to their recoverable amounts, to provide for any further liabilities that might arise and to analyse long term liabilities as current liabilities. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL. |
4. | FIXED ASSET INVESTMENTS |
Interest |
in |
associate |
£ |
COST |
Additions |
At 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
At 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
Investment property was valued on an open market basis by the director on 30 April 2023. The director considers that open market value has not changed significantly. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
Diamond Property & Investments Ltd (Registered number: 14053597) |
Notes to the Financial Statements - continued |
for the Period 19 April 2022 to 30 April 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other loans |
Trade creditors |
Directors' current accounts | 180,877 |
Accruals and deferred income |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Other loans - 1-2 years |
Other loans - 2-5 years | 1,517 |
Other loans more 5yrs instal | 39,920 |
Other loans more 5yrs non-inst | 203,744 |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Other loans more 5yrs non-inst | 203,744 |
Repayable by instalments |
Other loans more 5yrs instal | 39,920 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
£ |
Mortgage loans | 245,959 |
Mortgage loans are secured by the way of a fixed charge over the property they relate to. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary | £1 | 100 |
11. | RELATED PARTY DISCLOSURES |
2023 |
£ |
Amounts owed to director | 180,877 |
No interest has been charged. |