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Registration number: 11134047

Diamond Property Portfolio Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Diamond Property Portfolio Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Diamond Property Portfolio Limited

Company Information

Director

D Antoniou

Registered office

120 Cockfosters Road
Barnet
EN4 0DZ

Accountants

Thomas Alexander & Company Limited
590 Green Lanes
London
N13 5RY

 

Diamond Property Portfolio Limited

(Registration number: 11134047)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

1,646,708

1,210

Cash at bank and in hand

 

7,203

7,315

 

1,653,911

8,525

Creditors: Amounts falling due within one year

5

(1,670,193)

(34,101)

Net liabilities

 

(16,282)

(25,576)

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

(16,382)

(25,676)

Shareholders' deficit

 

(16,282)

(25,576)

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 12 August 2024
 

.........................................
D Antoniou
Director

 

Diamond Property Portfolio Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
120 Cockfosters Road
Barnet
EN4 0DZ

These financial statements were authorised for issue by the director on 12 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises of interest receivable and finance charges in connection with commercial loans.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors represent amounts due from customers in respect of commercial loans, interest and finance charges receivable in the ordinary course of business.

 

Diamond Property Portfolio Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Debtors

Current

2024
£

2023
£

Trade debtors

1,646,708

-

Other debtors

-

1,210

 

1,646,708

1,210

 

Diamond Property Portfolio Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

7,792

-

Amounts owed to group undertakings and undertakings in which the company has a participating interest

7

1,660,901

32,901

Accruals

 

1,500

1,200

 

1,670,193

34,101

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

7

Related party transactions

Included in creditors is an amount of £1,660,901 (2023: £32,901) owed to Diamond Corporation Ltd, the parent company.

8

Parent and ultimate parent undertaking

The company is a wholly owned subsidiary of Diamond Corporation Ltd, a company incorporated in UK.