2023-06-012024-05-312024-05-31false14131482DIVERSE SERVICES 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DIVERSE SERVICES LTD

Registered Number
14131482
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

DIVERSE SERVICES LTD
Company Information
for the year from 1 June 2023 to 31 May 2024

Director

Sukhbir Singh Ahluwalia

Registered Address

71-75 Shelton Street
London
WC2H 9JQ

Registered Number

14131482 (England and Wales)
DIVERSE SERVICES LTD
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets343,26822,485
43,26822,485
Current assets
Debtors4308,81722,709
Cash at bank and on hand135,14018,312
443,95741,021
Creditors amounts falling due within one year5(152,465)(24,337)
Net current assets (liabilities)291,49216,684
Total assets less current liabilities334,76039,169
Net assets334,76039,169
Capital and reserves
Called up share capital11
Profit and loss account334,75939,168
Shareholders' funds334,76039,169
The financial statements were approved and authorised for issue by the Director on 23 August 2024, and are signed on its behalf by:
Sukhbir Singh Ahluwalia
Director
Registered Company No. 14131482
DIVERSE SERVICES LTD
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Fixtures and fittings3
Office Equipment3
2.Average number of employees

20242023
Average number of employees during the year244
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 June 2324,868
Additions36,225
At 31 May 2461,093
Depreciation and impairment
At 01 June 232,383
Charge for year15,442
At 31 May 2417,825
Net book value
At 31 May 2443,268
At 31 May 2322,485
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables-14,709
Other debtors305,8638,000
Prepayments and accrued income2,954-
Total308,81722,709
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables2404,494
Amounts owed to related parties144,759
Taxation and social security149,89711,861
Other creditors2,3143,223
Total152,46524,337
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.