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COMPANY REGISTRATION NUMBER: 12056624
The Diorama Estates Limited
Filleted Unaudited Financial Statements
31 December 2023
The Diorama Estates Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Current assets
Stocks
11,584,896
11,542,645
Debtors
4
27,644
21,680
Cash at bank and in hand
3,773
24,059
-------------
-------------
11,616,313
11,588,384
Creditors: amounts falling due within one year
5
11,899,291
11,816,646
-------------
-------------
Net current liabilities
282,978
228,262
---------
---------
Total assets less current liabilities
( 282,978)
( 228,262)
---------
---------
Net liabilities
( 282,978)
( 228,262)
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 282,979)
( 228,263)
---------
---------
Shareholders deficit
( 282,978)
( 228,262)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 26 September 2024 , and are signed on behalf of the board by:
Mr T Lalvani
Director
Company registration number: 12056624
The Diorama Estates Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite 1, First floor, 1 Duchess Street, London, W1W 6AN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on the going concern basis, not withstanding the net liabilities of £282,978 on the basis that the director has provided the company with an undertaking that it will not seek repayment of its dues for the foreseeable future.
Stock and work in progress
Stocks and work in progress are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Debtors
2023
2022
£
£
Other debtors
27,644
21,680
--------
--------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
51,541
3,896
Other creditors
11,847,750
11,812,750
-------------
-------------
11,899,291
11,816,646
-------------
-------------
6. Director's advances, credits and guarantees
Included in other creditors is £11,845,000 (2022: £11,810,000) owing to the director. The loan is interest free and repayable on demand.
7. Controlling party
The company was under the control of Mr T Lalvani throughout the current and previous year being the sole shareholder.