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REGISTERED NUMBER: OC388283 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Diamond Interior Contracts LLP

Diamond Interior Contracts LLP (Registered number: OC388283)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Diamond Interior Contracts LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: S J Pearce
Mrs D M Pearce





REGISTERED OFFICE: 5 Gorsedene Close
Crowborough
East Sussex
TN6 1FJ





REGISTERED NUMBER: OC388283 (England and Wales)





ACCOUNTANTS: Thornton Springer LLP
Chartered Accountants
67 Westow Street
London
SE19 3RW

Diamond Interior Contracts LLP (Registered number: OC388283)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 61,753 82,337

CURRENT ASSETS
Stocks 17,991 10,122
Debtors 5 27,391 12,303
Cash at bank 211,494 94,787
256,876 117,212
CREDITORS
Amounts falling due within one year 6 (177,644 ) (42,371 )
NET CURRENT ASSETS 79,232 74,841
TOTAL ASSETS LESS CURRENT
LIABILITIES

140,985

157,178

CREDITORS
Amounts falling due after more than one year 7 (64,721 ) (84,409 )
NET ASSETS ATTRIBUTABLE TO
MEMBERS

76,264

72,769

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

76,264

72,769

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 76,264 72,769

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

Diamond Interior Contracts LLP (Registered number: OC388283)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 28 October 2024 and were signed by:





S J Pearce - Designated member

Diamond Interior Contracts LLP (Registered number: OC388283)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Diamond Interior Contracts LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 4 (2023 - 4 ) .

Diamond Interior Contracts LLP (Registered number: OC388283)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 130,969
DEPRECIATION
At 1 April 2023 48,632
Charge for year 20,584
At 31 March 2024 69,216
NET BOOK VALUE
At 31 March 2024 61,753
At 31 March 2023 82,337

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 99,742
DEPRECIATION
At 1 April 2023 22,500
Charge for year 19,310
At 31 March 2024 41,810
NET BOOK VALUE
At 31 March 2024 57,932
At 31 March 2023 77,242

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 27,391 9,305
Other debtors - 2,998
27,391 12,303

Diamond Interior Contracts LLP (Registered number: OC388283)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 9,688 9,688
Trade creditors 42,039 17,142
Taxation and social security 54,081 1,038
Other creditors 61,836 4,503
177,644 42,371

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 11,667 21,667
Hire purchase contracts 53,054 62,742
64,721 84,409

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank below all other unsecured creditors.