Company Registration No. 05504181 (England and Wales)
Diversify Uk Limited
Unaudited accounts
for the year ended 31 July 2023
Diversify Uk Limited
Unaudited accounts
Contents
Diversify Uk Limited
Company Information
for the year ended 31 July 2023
Directors
A Agrawal
J Agrawal
Company Number
05504181 (England and Wales)
Registered Office
86 Ditton Road
Surbiton
Surrey
KT6 6RH
England
Accountants
Sloane Winckless & Co
Chartered Accountants
2-4 Stoneleigh Park Road
Epsom
Surrey
KT19 0QT
Diversify Uk Limited
Statement of financial position
as at 31 July 2023
Investment property
2,152,700
2,152,700
Cash at bank and in hand
59,857
70,084
Creditors: amounts falling due within one year
(21,539)
(25,601)
Net current assets
476,889
468,900
Total assets less current liabilities
2,629,876
2,621,938
Creditors: amounts falling due after more than one year
(1,736,082)
(1,736,082)
Provisions for liabilities
Deferred tax
(79,426)
(60,387)
Net assets
814,368
825,469
Called up share capital
2
2
Revaluation reserve
593,473
612,521
Profit and loss account
220,893
212,946
Shareholders' funds
814,368
825,469
For the year ending 31 July 2023 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 February 2024 and were signed on its behalf by
A Agrawal
Director
Company Registration No. 05504181
Diversify Uk Limited
Notes to the Accounts
for the year ended 31 July 2023
Diversify Uk Limited is a private company, limited by shares, registered in England and Wales, registration number 05504181. The registered office is 86 Ditton Road, Surbiton, Surrey, KT6 6RH, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. 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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances.
Depreciation is calculated using the rates to reduce by annual instalments the cost of the tangible assets over their estimated useful lives as follows:-
Fixtures & fittings
15% per annum on a reducing balance basis
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted.
Diversify Uk Limited
Notes to the Accounts
for the year ended 31 July 2023
4
Tangible fixed assets
Fixtures & fittings
Fair value at 1 August 2022
2,152,700
The directors estimate the valuations at 31st July 2023 as above at a cost of £1,479,856 (2022 - £1,479,856).
Amounts falling due within one year
Trade debtors
17,022
2,868
Other debtors
421,549
421,549
7
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
2,812
4,902
Other creditors
17,127
15,052
8
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
908,698
908,698
Other creditors
827,384
827,384
Diversify Uk Limited
Notes to the Accounts
for the year ended 31 July 2023
9
Transactions with related parties
Mr. A. Agrawal and Miss. J. Agrawal are the directors of the company and together own 100% of the issued share capital.
At the balance sheet date, the company owed the following amounts to the directors and members of their family:-
A Agrawal - £8,930 (2022 - £9,985)
J Agrawal - £6,260 (2022 - £3,130)
Family members - £827,384 (2022 - £827,384)
Dividends were paid as follows:-
A Agrawal - £2,000 (2022 - £2,000)
J Agrawal - £2,000 (2022 - £2,000)
10
Average number of employees
During the year the average number of employees was 2 (2022: 2).