Company Registration No. 01233169 (England and Wales)
DIAMOND ANCHOR COMPANY LIMITED
Unaudited accounts
for the year ended 29 February 2024
DIAMOND ANCHOR COMPANY LIMITED
Unaudited accounts
Contents
DIAMOND ANCHOR COMPANY LIMITED
Company Information
for the year ended 29 February 2024
Directors
Jeffrey Baron
Diane Baron
Company Number
01233169 (England and Wales)
Registered Office
UNIT 2A FOXWOOD ROAD
DUNSTONS INDUSTRIAL ESTATE
SHEEPBRIDGE
CHESTERFIELD DERBYSHIRE
S41 9RF
Accountants
Hammond & Co
36 Chesterfield Road
Market Street
Staveley
Derbyshire
S43 3UT
DIAMOND ANCHOR COMPANY LIMITED
Statement of financial position
as at 29 February 2024
Tangible assets
547,408
490,128
Inventories
131,000
131,000
Cash at bank and in hand
1,072
140,878
Creditors: amounts falling due within one year
(256,139)
(301,556)
Net current assets
223,498
216,987
Total assets less current liabilities
780,459
716,668
Creditors: amounts falling due after more than one year
(251,942)
(167,949)
Provisions for liabilities
Deferred tax
(50,557)
(37,486)
Net assets
477,960
511,233
Called up share capital
2,500
2,500
Profit and loss account
475,460
508,733
Shareholders' funds
477,960
511,233
For the year ending 29 February 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2024 and were signed on its behalf by
Jeffrey Baron
Director
Company Registration No. 01233169
DIAMOND ANCHOR COMPANY LIMITED
Notes to the Accounts
for the year ended 29 February 2024
DIAMOND ANCHOR COMPANY LIMITED is a private company, limited by shares, registered in England and Wales, registration number 01233169. The registered office is UNIT 2A FOXWOOD ROAD, DUNSTONS INDUSTRIAL ESTATE, SHEEPBRIDGE, CHESTERFIELD DERBYSHIRE , S41 9RF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% on reducing balance
Motor vehicles
25% on reducing balance
Computer equipment
10% on reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
DIAMOND ANCHOR COMPANY LIMITED
Notes to the Accounts
for the year ended 29 February 2024
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 March 2023
163,690
330,481
384,663
62,718
941,552
Additions
-
-
165,711
-
165,711
At 29 February 2024
163,690
330,481
550,374
62,718
1,107,263
At 1 March 2023
-
244,429
155,592
51,403
451,424
Charge for the year
-
8,605
98,695
1,131
108,431
At 29 February 2024
-
253,034
254,287
52,534
559,855
At 29 February 2024
163,690
77,447
296,087
10,184
547,408
At 28 February 2023
163,690
86,052
229,071
11,315
490,128
5
Investments
Other investments
Valuation at 1 March 2023
9,553
Valuation at 29 February 2024
9,553
Amounts falling due within one year
Trade debtors
171,329
186,257
Other debtors
119,529
52,473
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
4,487
-
Obligations under finance leases and hire purchase contracts
18,492
101,406
Trade creditors
222,805
154,960
Taxes and social security
8,046
36,219
Other creditors
2,309
8,971
8
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
197,942
89,949
DIAMOND ANCHOR COMPANY LIMITED
Notes to the Accounts
for the year ended 29 February 2024
9
Average number of employees
During the year the average number of employees was 12 (2023: 14).