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REGISTERED NUMBER: 04587784 (England and Wales)















Financial Statements for the Year Ended 28 November 2023

for

Diadem Homes Limited

Diadem Homes Limited (Registered number: 04587784)

Contents of the Financial Statements
for the Year Ended 28 November 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Diadem Homes Limited

Company Information
for the Year Ended 28 November 2023







DIRECTOR: N J Jarvis



SECRETARY: S J Dines



REGISTERED OFFICE: Como House
Warwick Road
Hampton Wick
Kingston
Surrey
KT1 4DW



REGISTERED NUMBER: 04587784 (England and Wales)



ACCOUNTANTS: Fallows & Company Accountants & Business Advisors
Nightingale House
46/48 East Street
Epsom
Surrey
KT17 1HQ



BANKERS: National Westminster Bank plc
5 Market Place
Kingston upon Thames
Surrey
KT1 1JX

Diadem Homes Limited (Registered number: 04587784)

Balance Sheet
28 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 185,677 129,810

CURRENT ASSETS
Debtors 5 4,659,572 1,435,877
Cash at bank and in hand 19,964 2,139
4,679,536 1,438,016
CREDITORS
Amounts falling due within one year 6 4,273,778 1,073,380
NET CURRENT ASSETS 405,758 364,636
TOTAL ASSETS LESS CURRENT
LIABILITIES

591,435

494,446

CREDITORS
Amounts falling due after more than one
year

7

(130,070

)

(100,669

)

PROVISIONS FOR LIABILITIES (10,517 ) (12,849 )
NET ASSETS 450,848 380,928

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 450,648 380,728
SHAREHOLDERS' FUNDS 450,848 380,928

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 November 2023 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.

Diadem Homes Limited (Registered number: 04587784)

Balance Sheet - continued
28 November 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 director and authorised for issue on 28 August 2024 and were signed by:





N J Jarvis - Director


Diadem Homes Limited (Registered number: 04587784)

Notes to the Financial Statements
for the Year Ended 28 November 2023


1. STATUTORY INFORMATION

Diadem Homes 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.

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 as modified by the revaluation of certain assets.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on cost
Fixtures, fittings & furniture - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on 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.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Diadem Homes Limited (Registered number: 04587784)

Notes to the Financial Statements - continued
for the Year Ended 28 November 2023


2. ACCOUNTING POLICIES - continued

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 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures,
Plant and fittings Motor Computer
machinery & furniture vehicles equipment Totals
£    £    £    £    £   
COST
At 29 November 2022 28,000 19,166 132,897 22,897 202,960
Additions 17,000 - 77,413 5,794 100,207
Disposals - (1,056 ) (955 ) (8,900 ) (10,911 )
At 28 November 2023 45,000 18,110 209,355 19,791 292,256
DEPRECIATION
At 29 November 2022 7,000 14,823 38,238 13,089 73,150
Charge for year 6,667 1,802 28,487 6,700 43,656
Eliminated on disposal - (1,027 ) (955 ) (8,245 ) (10,227 )
At 28 November 2023 13,667 15,598 65,770 11,544 106,579
NET BOOK VALUE
At 28 November 2023 31,333 2,512 143,585 8,247 185,677
At 28 November 2022 21,000 4,343 94,659 9,808 129,810

Fixed assets, included in the above, which are held under finance leases are as follows:
Motor
vehicles
£   
COST
At 29 November 2022 131,942
Additions 77,413
At 28 November 2023 209,355
DEPRECIATION
At 29 November 2022 37,337
Charge for year 28,433
At 28 November 2023 65,770
NET BOOK VALUE
At 28 November 2023 143,585
At 28 November 2022 94,605

Diadem Homes Limited (Registered number: 04587784)

Notes to the Financial Statements - continued
for the Year Ended 28 November 2023


5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors - 5,915
Other debtors 1,334,553 564,578
Directors' current accounts - 6,950
Tax - 23,869
VAT 38,852 17,588
Prepayments and accrued income 3,256,450 787,260
4,629,855 1,406,160

Amounts falling due after more than one year:
Other debtors 29,717 29,717

Aggregate amounts 4,659,572 1,435,877

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Finance leases 42,593 25,762
Trade creditors 377,339 109,702
Tax 7,879 -
Social security and other taxes 112,082 102,715
Other creditors 3,420,388 802,478
Directors' current accounts 277,994 -
Accruals and deferred income 25,503 22,723
4,273,778 1,073,380

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 5,633 15,524
Finance leases 114,437 75,145
130,070 100,669

Diadem Homes Limited (Registered number: 04587784)

Notes to the Financial Statements - continued
for the Year Ended 28 November 2023


8. RELATED PARTY DISCLOSURES

During the period under review the company made sales and management charges of £2,915,000 (2022: £18,000) to Glenwood Homes (Surrey) Ltd of which N J Jarvis is a director.

During the period under review the company made sales and management charges of £193,000 (2022: 156,000) to Glenwood Investments Ltd of which N J Jarvis is a director.

During the period under review the company made sales and management charges of £50,000 (2022: £50,000) to Glenwood Homes Ltd of which N J Jarvis is a director.

During the period under review the company made sales and management charges of £50,000 (2022: £nil) to Latimer Homes Ltd of which N J Jarvis is a director.

During the period under review the company made sales and management charges of £27,000 (2022: £nil) to Glenwood Homes (Cricket Way) Ltd of which N J Jarvis is a director.

During the period under review the company made sales and management charges of £9,300 (2022: £27,500) to Glenwood Residential Ltd of which N J Jarvis is a director.

During the period under review the company made sales and management charges of £nil (2022: £535,000) to Glenwood Homes (UPR) Ltd of which N J Jarvis is a director.

During the period under review the company incurred rent charges of £27,500 (2022: £27,500) from Glenwood Homes Ltd of which N J Jarvis is a director:

All transactions were made on normal commercial terms.

'Other debtors' includes the sum of £1,034,378 (2022: £484,332) owed by Glenwood Homes (UPR) Ltd of which N J Jarvis is a director.

'Other debtors' includes the sum of £191,120 (2022: £29,016) owed by Glenwood Investments Ltd of which N J Jarvis is a director.

'Other debtors' includes the sum of £29,301 (2022: £nil) owed by Glenwood Homes (Surbiton) Ltd of which N J Jarvis is a director.

'Other debtors' includes the sum of £29,125 (2022: £30) owed by Glenwood Residential Ltd of which N J Jarvis is a director.

'Other debtors' includes the sum of £20,611 (2022: £20,611) owed by E O'Connor who is related to N J Jarvis.

'Other debtors' includes the sum of £18,013 (2022: £13) owed by Glenwood Homes (Surrey) Ltd of which N J Jarvis is a director.

'Other debtors' includes the sum of £1,579 (2022: £nil) owed by Latimer Homes Ltd of which N J Jarvis is a director.

'Other debtors' includes the sum of £271 (2022: £271) owed by P O'Connor who is related to N J Jarvis.

'Other debtors' includes the sum of £13 (2022: £13) owed by Ashton Homes Ltd of which S J Dines, who is related to N J Jarvis, is a director.

'Other debtors' includes the sum of £13 (2022: £nil) owed by Glenwood Homes Copsem Court Ltd of which N J Jarvis is a director.


Diadem Homes Limited (Registered number: 04587784)

Notes to the Financial Statements - continued
for the Year Ended 28 November 2023

'Other debtors' includes the sum of £13 (2022: £nil) owed by Copsem Woods Ltd of which N J Jarvis is a director.

'Other debtors' includes the sum of £12 (2022: £nil) owed by Glenwood Homes (Cricket Way) Ltd of which N J Jarvis is a director.

'Other debtors' includes the sum of £12 (2022: £nil) owed by Glenwood Homes (Cobham) Ltd of which N J Jarvis is a director.

'Other creditors' includes the sum of £2,777,741 (2022: £133,262) owed to Glenwood Homes Limited of which N J Jarvis is a director.

'Other creditors' includes the sum of £508,237 (2022: £510,335) owed to Diadem UK Limited of which C E Dines, who is related to N J Jarvis, is a director.

'Other creditors' includes the sum of £66,521 (2022: £71,521) owed to Ashton Developments Ltd of which S J Dines, who is related to N J Jarvis, is a director.

'Other creditors' includes the sum of £39,689 (2022: £38,349) owed to Rochester Construction Limited of which N J Jarvis is a director.

9. ULTIMATE CONTROLLING PARTY

The company is controlled by A C E Dines, C E Dines and Rochester Construction Limited.