Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 08762612 Mr Darren Heatherington Mrs Karen Heatherington iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08762612 2023-03-31 08762612 2024-03-31 08762612 2023-04-01 2024-03-31 08762612 frs-core:CurrentFinancialInstruments 2024-03-31 08762612 frs-core:Non-currentFinancialInstruments 2024-03-31 08762612 frs-core:BetweenOneFiveYears 2024-03-31 08762612 frs-core:FurnitureFittings 2024-03-31 08762612 frs-core:FurnitureFittings 2023-04-01 2024-03-31 08762612 frs-core:FurnitureFittings 2023-03-31 08762612 frs-core:NetGoodwill 2024-03-31 08762612 frs-core:NetGoodwill 2023-04-01 2024-03-31 08762612 frs-core:NetGoodwill 2023-03-31 08762612 frs-core:MotorVehicles 2024-03-31 08762612 frs-core:MotorVehicles 2023-04-01 2024-03-31 08762612 frs-core:MotorVehicles 2023-03-31 08762612 frs-core:WithinOneYear 2024-03-31 08762612 frs-core:ShareCapital 2024-03-31 08762612 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 08762612 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08762612 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 08762612 frs-bus:SmallEntities 2023-04-01 2024-03-31 08762612 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08762612 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08762612 frs-bus:Director1 2023-04-01 2024-03-31 08762612 frs-bus:Director2 2023-04-01 2024-03-31 08762612 frs-countries:EnglandWales 2023-04-01 2024-03-31 08762612 2022-03-31 08762612 2023-03-31 08762612 2022-04-01 2023-03-31 08762612 frs-core:CurrentFinancialInstruments 2023-03-31 08762612 frs-core:Non-currentFinancialInstruments 2023-03-31 08762612 frs-core:BetweenOneFiveYears 2023-03-31 08762612 frs-core:WithinOneYear 2023-03-31 08762612 frs-core:ShareCapital 2023-03-31 08762612 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 08762612
Diamonds Cosmetics Limited
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08762612
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 3,334
Tangible Assets 5 17,125 22,834
17,125 26,168
CURRENT ASSETS
Stocks 6 49,518 50,000
Debtors 7 1,173 701
Cash at bank and in hand 40,489 37,914
91,180 88,615
Creditors: Amounts Falling Due Within One Year 8 (56,082 ) (46,710 )
NET CURRENT ASSETS (LIABILITIES) 35,098 41,905
TOTAL ASSETS LESS CURRENT LIABILITIES 52,223 68,073
Creditors: Amounts Falling Due After More Than One Year 9 (3,646 ) (9,896 )
NET ASSETS 48,577 58,177
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 48,477 58,077
SHAREHOLDERS' FUNDS 48,577 58,177
Page 1
Page 2
For the year ending 31 March 2024 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
Mrs Karen Heatherington
Director
10 October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Diamonds Cosmetics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08762612 . The registered office is 16 Queen Street, Ilkeston, Derbyshire, DE7 5GT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. 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:
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 50% straight line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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.
Page 3
Page 4
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 5)
7 5
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 50,000
As at 31 March 2024 50,000
Amortisation
As at 1 April 2023 46,666
Provided during the period 3,334
As at 31 March 2024 50,000
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 3,334
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2023 40,595 10,199 50,794
As at 31 March 2024 40,595 10,199 50,794
Depreciation
As at 1 April 2023 17,761 10,199 27,960
Provided during the period 5,709 - 5,709
As at 31 March 2024 23,470 10,199 33,669
Net Book Value
As at 31 March 2024 17,125 - 17,125
As at 1 April 2023 22,834 - 22,834
Page 4
Page 5
6. Stocks
2024 2023
£ £
Stock 49,518 50,000
7. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 1,173 701
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 6,250 6,250
Corporation tax 24,441 23,729
Other taxes and social security 14,947 12,365
Other creditors 6,500 -
Accruals and deferred income 1,650 1,750
Directors' loan accounts 2,294 2,616
56,082 46,710
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 3,646 9,896
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 6,250 6,250
Later than one year and not later than five years 3,646 9,896
9,896 16,146
9,896 16,146
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5