Company Registration No. 05504181 (England and Wales)
Diversify Uk Limited
Unaudited accounts
for the year ended 31 July 2024
Diversify Uk Limited
Unaudited accounts
Contents
Diversify Uk Limited
Company Information
for the year ended 31 July 2024
Directors
Juhi Agrawal
Ankur Agrawal
Company Number
05504181 (England and Wales)
Registered Office
86 Ditton Road
Surbiton
Surrey
KT6 6RH
Diversify Uk Limited
Statement of financial position
as at 31 July 2024
Investment property
2,152,700
2,152,700
Cash at bank and in hand
56,721
59,857
Creditors: amounts falling due within one year
(20,237)
(21,539)
Net current assets
478,533
476,889
Total assets less current liabilities
2,631,477
2,629,876
Creditors: amounts falling due after more than one year
(1,736,082)
(1,736,082)
Provisions for liabilities
Deferred tax
(79,422)
(79,426)
Net assets
815,973
814,368
Called up share capital
2
2
Revaluation reserve
593,473
593,473
Profit and loss account
222,498
220,893
Shareholders' funds
815,973
814,368
For the year ending 31 July 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 7 January 2025 and were signed on its behalf by
Ankur Agrawal
Director
Company Registration No. 05504181
Diversify Uk Limited
Notes to the Accounts
for the year ended 31 July 2024
Diversify Uk Limited is a private company, limited by shares, registered in England and Wales, registration number 05504181. The registered office is 86 Ditton Road, Surbiton, Surrey, KT6 6RH.
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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates.
Turnover represents the total rents receivable during the year.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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.
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using rates that have been enacted.
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:
Land & buildings
not provided
Plant & machinery
15% on a reducing balance basis
Diversify Uk Limited
Notes to the Accounts
for the year ended 31 July 2024
4
Tangible fixed assets
Fixtures & fittings
Fair value at 1 August 2023
2,152,700
The directors estimate the valuations at 31st July 2023 as above at a cost of £1,479,856 (2022 - £1,479,856).
Amounts falling due after more than one year
Trade debtors
20,500
17,022
Other debtors
421,549
421,549
7
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
1,560
2,812
Other creditors
16,377
17,127
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
908,698
908,698
Other creditors
827,384
827,384
Diversify Uk Limited
Notes to the Accounts
for the year ended 31 July 2024
9
Transactions with related parties
Mr. A. Agrawal and Miss. J. Agrawal are the directors of the company and together own 100% of the issued share capital.
At the balance sheet date, the company owed the following amounts to the directors and members of their family:-
A Agrawal - £3,685 (2023 - £8,930)
J Agrawal - £7,325 (2023 - £6,260)
Family members - £827,384 (2023 - £827,384)
Dividends were paid as follows:-
A Agrawal - £2,500 (2023 - £2,000)
J Agrawal - £2,500 (2023 - £2,000)
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).