Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 28 February 2024 28 February 2024 10930795 Ms Q Yan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10930795 2023-02-28 10930795 2024-02-28 10930795 2023-03-01 2024-02-28 10930795 frs-core:CurrentFinancialInstruments 2024-02-28 10930795 frs-core:Non-currentFinancialInstruments 2024-02-28 10930795 frs-core:FurnitureFittings 2024-02-28 10930795 frs-core:FurnitureFittings 2023-03-01 2024-02-28 10930795 frs-core:FurnitureFittings 2023-02-28 10930795 frs-core:InvestmentPropertyIncludedWithinPPE 2024-02-28 10930795 frs-core:InvestmentPropertyIncludedWithinPPE 2023-03-01 2024-02-28 10930795 frs-core:InvestmentPropertyIncludedWithinPPE 2023-02-28 10930795 frs-core:ShareCapital 2024-02-28 10930795 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 10930795 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 10930795 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 10930795 frs-bus:SmallEntities 2023-03-01 2024-02-28 10930795 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 10930795 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 10930795 frs-bus:Director1 2023-03-01 2024-02-28 10930795 frs-countries:EnglandWales 2023-03-01 2024-02-28 10930795 2022-02-28 10930795 2023-02-28 10930795 2022-03-01 2023-02-28 10930795 frs-core:CurrentFinancialInstruments 2023-02-28 10930795 frs-core:Non-currentFinancialInstruments 2023-02-28 10930795 frs-core:ShareCapital 2023-02-28 10930795 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 10930795
YS DIAMONDS LIMITED
Unaudited Financial Statements
For The Year Ended 28 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10930795
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,756,759 1,747,860
1,756,759 1,747,860
CURRENT ASSETS
Debtors 5 7,155 1,519
Cash at bank and in hand 230,728 217,460
237,883 218,979
Creditors: Amounts Falling Due Within One Year 6 (1,661,562 ) (1,657,807 )
NET CURRENT ASSETS (LIABILITIES) (1,423,679 ) (1,438,828 )
TOTAL ASSETS LESS CURRENT LIABILITIES 333,080 309,032
Creditors: Amounts Falling Due After More Than One Year 7 (248,625 ) (248,625 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,250 ) -
NET ASSETS 83,205 60,407
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 83,204 60,406
SHAREHOLDERS' FUNDS 83,205 60,407
Page 1
Page 2
For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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
Ms Q Yan
Director
24 September 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
YS DIAMONDS LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 10930795 . The registered office is Office 303B 10 Courtenay Road, East Lane Business Park, Wembley, HA9 7ND.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 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
The turnover shown in the profit and loss account represents amounts invoiced during the year exclusive of Value Added Tax.

2.3. 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:
Fixtures & Fittings 25% on cost
2.4. Investment Properties
All investment properties are propeties which are held either to earn rental income or for capital appreciation or for both. Investment properties are recognised initially at cost. Subsequent to initial recognition:
1) Invesment properties whose fair value can be measured reliably without undue cost or effort are held at fair value. Changes in fair value are recognised in the profit and loss account.
2) No depreciation is provided for.
Invesmtent properties fair value is determined by the director based on his understanding of property market conditions and the specific properties concerned. Any gain or loss arising from a change in fair value is recognised in the profit and loss account.
2.5. 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. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. 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. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
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. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
Page 3
Page 4
2.7. Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial instruments
Trade and other debtors
Trade and other debtors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate for a similar debt instrument.

Trade and other creditors
Trade and other creditors are recognised initially at transaction price less attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate for a similar debt instrument.

2.8. Acquisitions and disposals of properties
Acquisitions and disposals are considered to have taken place at the date of legal completion and are included in the financial statements accordingly.
3. Average Number of Employees
Average number of employees, including directors, during the year was  2 (2023: 2)
2 2
4. Tangible Assets
Investment Properties Fixtures & Fittings Total
£ £ £
Cost
As at 1 March 2023 1,745,793 6,386 1,752,179
Additions 10,496 - 10,496
As at 28 February 2024 1,756,289 6,386 1,762,675
Depreciation
As at 1 March 2023 - 4,319 4,319
Provided during the period - 1,597 1,597
As at 28 February 2024 - 5,916 5,916
Net Book Value
As at 28 February 2024 1,756,289 470 1,756,759
As at 1 March 2023 1,745,793 2,067 1,747,860
Cost or valuation as at 28 February 2024 represented by:
Investment Properties Fixtures & Fittings Total
£ £ £
At cost 1,756,289 6,386 1,762,675
1,756,289 6,386 1,762,675
The company's investment properties are included in the Financial Statements at Director's valuation.
The company's residential properties valued using a sales valuation approach, derived from recent comparable transactions in the market, adjusted by applying discounts to reflect status of occupation and condition.
The historical cost of investment properties are £1,756,289.
Page 4
Page 5
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 4,090 -
Other taxes and social security 3,065 1,519
7,155 1,519
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 893 2,662
Corporation tax 6,015 3,469
Other creditors 1,653,104 1,648,576
Accruals and deferred income 1,550 3,100
1,661,562 1,657,807
Other creditors include amounts aggregating £1,647,464 (2023: £1,645,526) due to the director of this company. The loan is interest free and repayable on demand.
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 248,625 248,625
The Bank loans are secured by a fixed charge over the investment properties of the company with a book value of £375,000.
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 5