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REGISTERED NUMBER: 04113848 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

DIAMOND CONTROLS LIMITED

DIAMOND CONTROLS LIMITED (REGISTERED NUMBER: 04113848)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DIAMOND CONTROLS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: I D Ames





REGISTERED OFFICE: Unit 5 Baines Way
Bowthorpe
Norwich
Norfolk
NR5 9JR





REGISTERED NUMBER: 04113848 (England and Wales)





ACCOUNTANTS: Hackett Griffey LLP
Chartered Certified Accountants
31 High Street
Haverhill
Suffolk
CB9 8AD

DIAMOND CONTROLS LIMITED (REGISTERED NUMBER: 04113848)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 412,490 72,463
Investment property 6 166,774 -
579,264 72,463

CURRENT ASSETS
Stocks 447,936 288,127
Debtors 7 568,981 757,914
Cash at bank 301,615 477,655
1,318,532 1,523,696
CREDITORS
Amounts falling due within one year 8 861,686 634,785
NET CURRENT ASSETS 456,846 888,911
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,036,110

961,374

CREDITORS
Amounts falling due after more than one
year

9

-

(47,664

)

PROVISIONS FOR LIABILITIES (18,932 ) (12,886 )
NET ASSETS 1,017,178 900,824

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 1,016,978 900,624
1,017,178 900,824

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 CONTROLS LIMITED (REGISTERED NUMBER: 04113848)

BALANCE SHEET - continued
31 MARCH 2024


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 director and authorised for issue on 6 August 2024 and were signed by:





I D Ames - Director


DIAMOND CONTROLS LIMITED (REGISTERED NUMBER: 04113848)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Diamond Controls Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 the amount derived from ordinary activities, stated after trade discounts, other sales taxes and net of VAT.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% straight line
Plant and machinery etc - 20% on 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.

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.

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 CONTROLS LIMITED (REGISTERED NUMBER: 04113848)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 5,000
AMORTISATION
At 1 April 2023
and 31 March 2024 5,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

DIAMOND CONTROLS LIMITED (REGISTERED NUMBER: 04113848)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 32,723 180,082 212,805
Additions 332,956 26,644 359,600
Disposals - (16,340 ) (16,340 )
At 31 March 2024 365,679 190,386 556,065
DEPRECIATION
At 1 April 2023 - 140,342 140,342
Charge for year - 16,248 16,248
Eliminated on disposal - (13,015 ) (13,015 )
At 31 March 2024 - 143,575 143,575
NET BOOK VALUE
At 31 March 2024 365,679 46,811 412,490
At 31 March 2023 32,723 39,740 72,463

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 166,774
At 31 March 2024 166,774
NET BOOK VALUE
At 31 March 2024 166,774

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 219,183 640,328
Other debtors 349,798 117,586
568,981 757,914

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 20,000
Hire purchase contracts 4,331 5,668
Trade creditors 703,950 400,120
Taxation and social security 70,641 127,659
Other creditors 82,764 81,338
861,686 634,785

DIAMOND CONTROLS LIMITED (REGISTERED NUMBER: 04113848)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 43,333
Hire purchase contracts - 4,331
- 47,664

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loan - 63,333
Hire purchase contracts 4,331 9,999
4,331 73,332

Hire purchase contracts are secured over the assets acquired.