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REGISTERED NUMBER: SC757552 (Scotland)















Unaudited Financial Statements

for the Period 3 February 2023 to 29 February 2024

for

DIAMOND PROPERTY DEVELOPMENTS -78 QR LTD

DIAMOND PROPERTY DEVELOPMENTS -78 QR LTD (REGISTERED NUMBER: SC757552)






Contents of the Financial Statements
FOR THE PERIOD 3 FEBRUARY 2023 TO 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DIAMOND PROPERTY DEVELOPMENTS -78 QR LTD

Company Information
FOR THE PERIOD 3 FEBRUARY 2023 TO 29 FEBRUARY 2024







DIRECTORS: P J W Gibson
D J Smart





REGISTERED OFFICE: 1st Floor, 5 Abercrombie Court
Prospect Road
Arnhall Business Park
Westhill
Aberdeenshire
AB32 6FE





REGISTERED NUMBER: SC757552 (Scotland)





ACCOUNTANTS: Fyfe Moir & Associates
1st Floor, 5 Abercrombie Crt
Prospect Road,
Westhill
Aberdeenshire
Grampian
AB32 6FE

DIAMOND PROPERTY DEVELOPMENTS -78 QR LTD (REGISTERED NUMBER: SC757552)

Balance Sheet
29 FEBRUARY 2024

Notes £   
CURRENT ASSETS
Stocks 644,748
Debtors 4 10,490
Cash at bank 2,545
657,783
CREDITORS
Amounts falling due within one year 5 2,999
NET CURRENT ASSETS 654,784
TOTAL ASSETS LESS CURRENT
LIABILITIES

654,784

CREDITORS
Amounts falling due after more than one
year

6

973,896
NET LIABILITIES (319,112 )

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings (319,212 )
SHAREHOLDERS' FUNDS (319,112 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 February 2024 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.

DIAMOND PROPERTY DEVELOPMENTS -78 QR LTD (REGISTERED NUMBER: SC757552)

Balance Sheet - continued
29 FEBRUARY 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by:





P J W Gibson - Director


DIAMOND PROPERTY DEVELOPMENTS -78 QR LTD (REGISTERED NUMBER: SC757552)

Notes to the Financial Statements
FOR THE PERIOD 3 FEBRUARY 2023 TO 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Diamond Property Developments -78 QR Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Going concern
Although technically insolvent, the company is being supported by the lender Residential Loans Ltd.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 period 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 period was 2 .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 10,390
Directors' current accounts 100
10,490

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors (1 )
Accruals and deferred income 3,000
2,999

DIAMOND PROPERTY DEVELOPMENTS -78 QR LTD (REGISTERED NUMBER: SC757552)

Notes to the Financial Statements - continued
FOR THE PERIOD 3 FEBRUARY 2023 TO 29 FEBRUARY 2024

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Loan - Residential Loans 973,896

7. SECURED DEBTS

A Floating charge was created on 27th February 2023 in favour of Residential Loans Ltd which covers all the property or undertaking of the company.

A Registration of charge was created on 28th March 2023 in favour of Residential Loans Ltd which covers
All and whole the subjects at spademill studio, spademill lane, aberdeen, AB15 4EZ and townnhouse number 1, 78 queens road, aberdeen, AB15 4YE and townhouse number 2, 78 queens road, aberdeen, AB15 4YE and townhouse number 3, 78 queens road, aberdeen AB15 4YE.