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REGISTERED NUMBER: 01006720 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

DIASTAN SECURITIES LIMITED

DIASTAN SECURITIES LIMITED (REGISTERED NUMBER: 01006720)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Accountants' Report 7

DIASTAN SECURITIES LIMITED

Company Information
for the year ended 31 December 2023







Directors: C S Passey
J M Passey





Secretary: J M Passey





Registered office: 212 St Ann's Hill
London
SW18 2RU





Registered number: 01006720 (England and Wales)





Accountants: Cooper Parry Advisory Limited
Aissela
46 High Street
Esher
Surrey
KT10 9QY

DIASTAN SECURITIES LIMITED (REGISTERED NUMBER: 01006720)

Balance Sheet
31 December 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 4 360 666
Investments 5 139,000 314,000
Investment property 6 12,492,730 12,492,730
12,632,090 12,807,396

Current assets
Debtors 7 352,332 346,417
Cash at bank 804,442 474,213
1,156,774 820,630
Creditors
Amounts falling due within one year 8 301,447 356,313
Net current assets 855,327 464,317
Total assets less current liabilities 13,487,417 13,271,713

Provisions for liabilities 9 1,641,535 1,641,535
Net assets 11,845,882 11,630,178

Capital and reserves
Called up share capital 10 1,000 1,000
Fair value reserve 11 7,278,953 7,278,953
Retained earnings 4,565,929 4,350,225
Shareholders' funds 11,845,882 11,630,178

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:




C S Passey - Director


DIASTAN SECURITIES LIMITED (REGISTERED NUMBER: 01006720)

Notes to the Financial Statements
for the year ended 31 December 2023


1. Statutory information

Diastan Securities 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover
Turnover represents rents receivable and other amounts receivable from lessees excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

Investments in associates
Investments in associate undertakings are recognised at cost less any provision for impairment.

Investment property
Investment properties are shown at their open market value and not depreciated. The surpluses arising from the annual revaluation are transferred to the revaluation reserve.

This is in accordance with the provision of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" which, unlike Schedule 4 to the Companies Act 2006, does not require depreciation of investment properties.

Investment properties are held for the investment potential and not for use by the company, so their current value is of prime importance. The departure from the provisions of Act is required in order to give a true and fair view.

DIASTAN SECURITIES LIMITED (REGISTERED NUMBER: 01006720)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. Accounting policies - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

3. Employees and directors

The average number of employees during the year was 2 (2022 - 2 ) .

4. Tangible fixed assets
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£ £ £ £
Cost
At 1 January 2023
and 31 December 2023 2,260 14,000 2,093 18,353
Depreciation
At 1 January 2023 1,882 13,950 1,855 17,687
Charge for year 56 12 238 306
At 31 December 2023 1,938 13,962 2,093 17,993
Net book value
At 31 December 2023 322 38 - 360
At 31 December 2022 378 50 238 666

DIASTAN SECURITIES LIMITED (REGISTERED NUMBER: 01006720)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


5. Fixed asset investments
Interest in Other
associate investments Totals
£ £ £
Cost
At 1 January 2023 7,200 314,000 321,200
Disposals - (175,000 ) (175,000 )
At 31 December 2023 7,200 139,000 146,200
Provisions
At 1 January 2023
and 31 December 2023 7,200 - 7,200
Net book value
At 31 December 2023 - 139,000 139,000
At 31 December 2022 - 314,000 314,000

6. Investment property
Total
£
Fair value
At 1 January 2023
and 31 December 2023 12,492,730
Net book value
At 31 December 2023 12,492,730
At 31 December 2022 12,492,730

Fair value at 31 December 2023 is represented by:
£
Valuation in 2003 1,928,391
Valuation in 2009 1,400,000
Valuation in 2013 1,050,000
Valuation in 2015 700,000
Valuation in 2016 1,000,000
Valuation in 2021 2,432,512
Valuation in 2022 482,500
Cost 3,499,327
12,492,730

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£ £
Cost 3,499,327 3,499,327

Investment property was valued on an open market basis on 31 December 2023 by the directors .

DIASTAN SECURITIES LIMITED (REGISTERED NUMBER: 01006720)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


7. Debtors: amounts falling due within one year
2023 2022
£ £
Other debtors 343,384 335,932
Prepayments 8,948 10,485
352,332 346,417

8. Creditors: amounts falling due within one year
2023 2022
£ £
Tax 86,327 73,036
Other creditors 38,021 38,020
Directors' current accounts 172,719 240,877
Accruals and deferred income 4,380 4,380
301,447 356,313

9. Provisions for liabilities
2023 2022
£ £
Deferred tax 1,641,535 1,641,535

Deferred tax
£
Balance at 1 January 2023 1,641,535
Balance at 31 December 2023 1,641,535

10. Called up share capital

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £ £
1,000 Called up share capital £1 1,000 1,000

11. Reserves
Fair value
reserve
£
At 1 January 2023
and 31 December 2023 7,278,953

12. Related party disclosures

At 31 December 2023, C S Passey and J M Passey were owed £172,719 by the company (2022: £240,877). This loan is interest free and repayable on demand.

The company receives rental income on properties which are let to the company by the directors at a peppercorn rent. The rental income generated for the year by the company on these properties was £124,366 (2022: £124,366).

C S Passey has given an unlimited guarantee to the company's bank.

Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Diastan Securities Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Diastan Securities Limited for the year ended 31 December 2023 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Diastan Securities Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Diastan Securities Limited and state those matters that we have agreed to state to the Board of Directors of Diastan Securities Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Diastan Securities Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Diastan Securities Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Diastan Securities Limited. You consider that Diastan Securities Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Diastan Securities Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Cooper Parry Advisory Limited
Aissela
46 High Street
Esher
Surrey
KT10 9QY


23 September 2024