Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 11733004 Mr Mark Fitzgerald Mr Thomas O'Donohoe Ms Franciscus Wijnen Mr Samuel Wijnen Mr Mark Fitzgerald MX Diamonds BV true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11733004 2022-12-31 11733004 2023-12-31 11733004 2023-01-01 2023-12-31 11733004 frs-core:CurrentFinancialInstruments 2023-12-31 11733004 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 11733004 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 11733004 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 11733004 frs-core:PlantMachinery 2023-12-31 11733004 frs-core:PlantMachinery 2023-01-01 2023-12-31 11733004 frs-core:PlantMachinery 2022-12-31 11733004 frs-core:ShareCapital 2023-12-31 11733004 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 11733004 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11733004 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 11733004 frs-bus:SmallEntities 2023-01-01 2023-12-31 11733004 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11733004 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11733004 1 2023-01-01 2023-12-31 11733004 frs-bus:Director1 2023-01-01 2023-12-31 11733004 frs-bus:Director2 2023-01-01 2023-12-31 11733004 frs-bus:Director3 2023-01-01 2023-12-31 11733004 frs-bus:Director4 2023-01-01 2023-12-31 11733004 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 11733004 frs-core:CurrentFinancialInstruments 1 2023-12-31 11733004 frs-core:CurrentFinancialInstruments 9 2023-12-31 11733004 frs-countries:EnglandWales 2023-01-01 2023-12-31 11733004 2021-12-31 11733004 2022-12-31 11733004 2022-01-01 2022-12-31 11733004 frs-core:CurrentFinancialInstruments 2022-12-31 11733004 frs-core:ShareCapital 2022-12-31 11733004 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 11733004 frs-core:CurrentFinancialInstruments 1 2022-12-31 11733004 frs-core:CurrentFinancialInstruments 9 2022-12-31
Registered number: 11733004
Mx Diamonds Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Freya Accounts Ltd
Holbrook House, 32 Oakley Lane
Oakley
Basingstoke
Hampshire
RG23 7JY
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11733004
2023 2022
Notes $ $ $ $
FIXED ASSETS
Intangible Assets 4 6,150 10,897
Tangible Assets 5 263 1,975
6,413 12,872
CURRENT ASSETS
Stocks 6 7,020 27,283
Debtors 7 581,482 716,216
Cash at bank and in hand 119,812 22,096
708,314 765,595
Creditors: Amounts Falling Due Within One Year 8 (7,882,111 ) (5,550,818 )
NET CURRENT ASSETS (LIABILITIES) (7,173,797 ) (4,785,223 )
TOTAL ASSETS LESS CURRENT LIABILITIES (7,167,384 ) (4,772,351 )
NET LIABILITIES (7,167,384 ) (4,772,351 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (7,167,484 ) (4,772,451 )
SHAREHOLDERS' FUNDS (7,167,384) (4,772,351)
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Thomas O'Donohoe
Director
11th September 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Mx Diamonds Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11733004 . The registered office is Holbrook House, 32 Oakley Lane, Oakley, Basingstoke, Hampshire, RG23 7JY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

The financial statements are prepared in US Dollars, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest $.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets arising from development are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Software development costs Over the estimated useful life of 5 years

2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Straight Line
2.6. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
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4. Intangible Assets
Development Costs
$
Cost
As at 1 January 2023 23,735
As at 31 December 2023 23,735
Amortisation
As at 1 January 2023 12,838
Provided during the period 4,747
As at 31 December 2023 17,585
Net Book Value
As at 31 December 2023 6,150
As at 1 January 2023 10,897
5. Tangible Assets
Plant & Machinery
$
Cost
As at 1 January 2023 8,564
As at 31 December 2023 8,564
Depreciation
As at 1 January 2023 6,589
Provided during the period 1,712
As at 31 December 2023 8,301
Net Book Value
As at 31 December 2023 263
As at 1 January 2023 1,975
6. Stocks
2023 2022
$ $
Materials 7,020 27,283
7. Debtors
2023 2022
$ $
Due within one year
Prepayments and accrued income 57,235 60,635
Amount Owed by Group Undertakings 524,231 655,457
VAT 16 124
581,482 716,216
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8. Creditors: Amounts Falling Due Within One Year
2023 2022
$ $
Trade creditors 2,249 3,214
Other Borrowings 1,196,000 1,196,000
Dividends Payable 1,736,835 1,736,835
Accruals and deferred income 4,947,027 2,614,769
7,882,111 5,550,818
Other borrowings relate to $1,196,000 (2021: $1,196,000) non voting redeemable preference shares of $1 each. 
9. Share Capital
2023 2022
$ $
Allotted, Called up and fully paid 100 100
10. Related Party Transactions
The company made sales at cost totalling $14,858.10 (2022: $2,498.90) and charged management fees of $17,042.92 (2022: $50,880) to the controlling company in Belgium.
11. Ultimate Controlling Party
The company's ultimate controlling party is MX Diamonds BV by virtue of his ownership of 100% of the issued share capital in the company.

MX Diamonds BV
Hoveniersstraat 2 Suite 422
Box 122 2018 Anvers
Belgium
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