IRIS Accounts Production v23.3.1.45 SC323484 Board of Directors 1.6.22 31.5.23 31.5.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3234842022-05-31SC3234842023-05-31SC3234842022-06-012023-05-31SC3234842021-05-31SC3234842021-06-012022-05-31SC3234842022-05-31SC323484ns10:Originalns15:Scotland2022-06-012023-05-31SC323484ns14:PoundSterlingns10:Original2022-06-012023-05-31SC323484ns10:Originalns10:Director12022-06-012023-05-31SC323484ns10:Original2022-06-012023-05-31SC323484ns10:Original2023-05-31SC323484ns10:Originalns10:PrivateLimitedCompanyLtd2022-06-012023-05-31SC323484ns10:Originalns10:SmallEntities2022-06-012023-05-31SC323484ns10:Originalns10:AuditExempt-NoAccountantsReport2022-06-012023-05-31SC323484ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-06-012023-05-31SC323484ns10:SmallCompaniesRegimeForAccountsns10:Original2022-06-012023-05-31SC323484ns10:Originalns10:FullAccounts2022-06-012023-05-31SC323484ns10:Originalns10:Director22022-06-012023-05-31SC323484ns10:Originalns10:Director32022-06-012023-05-31SC323484ns10:Originalns10:Director42022-06-012023-05-31SC323484ns10:Originalns10:RegisteredOffice2022-06-012023-05-31SC323484ns10:Original2022-05-31SC323484ns10:Originalns5:CurrentFinancialInstruments2023-05-31SC323484ns10:Originalns5:CurrentFinancialInstruments2022-05-31SC323484ns10:Originalns5:Non-currentFinancialInstruments2023-05-31SC323484ns10:Originalns5:Non-currentFinancialInstruments2022-05-31SC323484ns5:ShareCapitalns10:Original2023-05-31SC323484ns5:ShareCapitalns10:Original2022-05-31SC323484ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-05-31SC323484ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-05-31SC323484ns10:Originalns5:LeaseholdImprovements2022-06-012023-05-31SC323484ns10:Originalns5:FurnitureFittings2022-06-012023-05-31SC323484ns10:Originalns5:MotorVehicles2022-06-012023-05-31SC323484ns10:Original2021-06-012022-05-31SC323484ns10:Originalns5:LandBuildings2022-05-31SC323484ns10:Originalns5:LeaseholdImprovements2022-05-31SC323484ns10:Originalns5:FurnitureFittings2022-05-31SC323484ns10:Originalns5:MotorVehicles2022-05-31SC323484ns10:Original2022-05-31SC323484ns10:Originalns5:LandBuildings2022-06-012023-05-31SC323484ns10:Originalns5:LandBuildings2023-05-31SC323484ns10:Originalns5:LeaseholdImprovements2023-05-31SC323484ns10:Originalns5:FurnitureFittings2023-05-31SC323484ns10:Originalns5:MotorVehicles2023-05-31SC323484ns10:Originalns5:LandBuildings2022-05-31SC323484ns10:Originalns5:LeaseholdImprovements2022-05-31SC323484ns10:Originalns5:FurnitureFittings2022-05-31SC323484ns10:Originalns5:MotorVehicles2022-05-31SC323484ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-31SC323484ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-05-31SC323484ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-05-31SC323484ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-05-31SC323484ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-05-31SC323484ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-05-31SC323484ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-05-31SC323484ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-05-31SC323484ns10:Original1ns10:Director12022-05-31SC323484ns10:Original1ns10:Director12021-05-31SC323484ns10:Original1ns10:Director12022-06-012023-05-31SC323484ns10:Original1ns10:Director12021-06-012022-05-31SC323484ns10:Original1ns10:Director12023-05-31SC323484ns10:Original1ns10:Director12022-05-31SC323484ns10:Originalns10:Director222022-05-31SC323484ns10:Originalns10:Director222021-05-31SC323484ns10:Originalns10:Director222022-06-012023-05-31SC323484ns10:Originalns10:Director222021-06-012022-05-31SC323484ns10:Originalns10:Director222023-05-31SC323484ns10:Originalns10:Director222022-05-31
REGISTERED NUMBER: SC323484 (Scotland)










Unaudited Financial Statements

for the Year Ended 31 May 2023

for

DIAMOND AIR CONDITIONING LIMITED

DIAMOND AIR CONDITIONING LIMITED (REGISTERED NUMBER: SC323484)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DIAMOND AIR CONDITIONING LIMITED

Company Information
for the Year Ended 31 May 2023







DIRECTORS: Mr W N Drummond
Mr B Boyd
Mrs L Bainbridge
Mr G G Vicker





REGISTERED OFFICE: Unit 4A,
South Caldeen Road
Coatbridge
Lanarkshire
ML5 4EG





REGISTERED NUMBER: SC323484 (Scotland)





ACCOUNTANTS: WDM Associates
Oakfield House
378 Brandon Street
Motherwell
ML1 1XA

DIAMOND AIR CONDITIONING LIMITED (REGISTERED NUMBER: SC323484)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 480,974 347,667

CURRENT ASSETS
Stocks 160,921 125,713
Debtors 5 192,181 187,079
Cash at bank and in hand 1,323,923 1,297,857
1,677,025 1,610,649
CREDITORS
Amounts falling due within one year 6 340,608 333,973
NET CURRENT ASSETS 1,336,417 1,276,676
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,817,391

1,624,343

CREDITORS
Amounts falling due after more than one
year

7

(79,607

)

(99,170

)

PROVISIONS FOR LIABILITIES (26,567 ) (6,809 )
NET ASSETS 1,711,217 1,518,364

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,711,117 1,518,264
SHAREHOLDERS' FUNDS 1,711,217 1,518,364

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

DIAMOND AIR CONDITIONING LIMITED (REGISTERED NUMBER: SC323484)

Balance Sheet - continued
31 May 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 19 February 2024 and were signed on its behalf by:





Mr B Boyd - Director


DIAMOND AIR CONDITIONING LIMITED (REGISTERED NUMBER: SC323484)

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

1. STATUTORY INFORMATION

Diamond Air Conditioning 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.
Improvements to property - 10% on reducing balance
Fixtures and fittings - 10%-50% straight line
Motor vehicles - 33% on cost and 25% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Basic financial instruments
Basic financial instruments, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

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.


DIAMOND AIR CONDITIONING LIMITED (REGISTERED NUMBER: SC323484)

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

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2022 - 21 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and Motor
property property fittings vehicles Totals
£    £    £    £    £   
COST
At 1 June 2022 273,122 45,931 130,388 297,169 746,610
Additions - - - 197,103 197,103
Disposals - - - (90,239 ) (90,239 )
At 31 May 2023 273,122 45,931 130,388 404,033 853,474
DEPRECIATION
At 1 June 2022 - 28,616 118,994 251,333 398,943
Charge for year - 1,924 5,523 36,034 43,481
Eliminated on disposal - - - (69,924 ) (69,924 )
At 31 May 2023 - 30,540 124,517 217,443 372,500
NET BOOK VALUE
At 31 May 2023 273,122 15,391 5,871 186,590 480,974
At 31 May 2022 273,122 17,315 11,394 45,836 347,667

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 184,105 170,543
Other debtors 8,076 16,536
192,181 187,079

DIAMOND AIR CONDITIONING LIMITED (REGISTERED NUMBER: SC323484)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 16,620 16,620
Hire purchase contracts - 9,324
Trade creditors 128,996 131,714
Tax 116,541 128,355
Social security and other taxes 15,499 14,514
VAT 50,778 22,842
Directors' current accounts 107 107
Accrued expenses 12,067 10,497
340,608 333,973

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 16,620 16,620
Bank loans - 2-5 years 49,860 49,860
Bank loans more 5 yr by instal 13,127 28,028
Hire purchase contracts - 4,662
79,607 99,170

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 13,127 28,028

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2023 and 31 May 2022:

2023 2022
£    £   
Mr B Boyd
Balance outstanding at start of year (68 ) (68 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (68 ) (68 )

Mr W N Drummond
Balance outstanding at start of year (37 ) (37 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (37 ) (37 )

DIAMOND AIR CONDITIONING LIMITED (REGISTERED NUMBER: SC323484)

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

9. ULTIMATE CONTROLLING PARTY

The company was under the control of directors W N Drummond and Brian Boyd during the year.