2023-04-012024-03-312024-03-31false04173516BLACK DIAMOND PERFORMANCE 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BLACK DIAMOND PERFORMANCE LIMITED

Registered Number
04173516
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

BLACK DIAMOND PERFORMANCE LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

SMITH, Simon

Registered Address

Five Oaks
Sandy Lane
Henfield
BN5 9UX

Registered Number

04173516 (England and Wales)
BLACK DIAMOND PERFORMANCE LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets32,5763,316
2,5763,316
Current assets
Stocks443,10545,929
Debtors527,54124,501
Cash at bank and on hand87,71186,991
158,357157,421
Creditors amounts falling due within one year6(92,570)(32,888)
Net current assets (liabilities)65,787124,533
Total assets less current liabilities68,363127,849
Net assets68,363127,849
Capital and reserves
Called up share capital45,00045,000
Profit and loss account23,36382,849
Shareholders' funds68,363127,849
The financial statements were approved and authorised for issue by the Board of Directors on 24 September 2024, and are signed on its behalf by:
SMITH, Simon
Director
Registered Company No. 04173516
BLACK DIAMOND PERFORMANCE LIMITED
Notes to the Financial Statements
for the year ended 31 March 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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
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 small allowances.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
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.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery10
Fixtures and fittings5
Office Equipment25
Stocks and work in progress
Inventories 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.
2.Average number of employees

20242023
Average number of employees during the year44
3.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 April 2313,22113,221
At 31 March 2413,22113,221
Depreciation and impairment
At 01 April 239,9059,905
Charge for year740740
At 31 March 2410,64510,645
Net book value
At 31 March 242,5762,576
At 31 March 233,3163,316
4.Stocks
inventories 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.

2024

2023

££
Other stocks43,10545,929
Total43,10545,929
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables29,40424,501
Other debtors(1,863)-
Total27,54124,501
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 and and doubtful debts.
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables29,47832,074
Taxation and social security1,691814
Accrued liabilities and deferred income61,401-
Total92,57032,888
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.