Registered number
08241334
Diamond Creative Investments Ltd
Filleted Accounts
29 October 2023
Diamond Creative Investments Ltd
Registered number: 08241334
Balance Sheet
as at 29 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 931,211 737,382
Current assets
Debtors 4 - 94
Cash at bank and in hand 23,060 15,512
23,060 15,606
Creditors: amounts falling due within one year 5 (520,764) (240,057)
Net current liabilities (497,704) (224,451)
Total assets less current liabilities 433,507 512,931
Creditors: amounts falling due after more than one year 6 (436,155) (489,642)
Net (liabilities)/assets (2,648) 23,289
Capital and reserves
Called up share capital 1 1
Profit and loss account (2,649) 23,288
Shareholders' funds (2,648) 23,289
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Courtney Rogers
Director
Approved by the board on 27 January 2025
Diamond Creative Investments Ltd
Notes to the Accounts
for the period from 1 November 2022 to 29 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Motor Vehicles 18% written down value
Computer Equipment 33% on cost
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 November 2022 728,530 7,328 13,165 749,023
Additions 212,087 - - 212,087
Disposals - - (13,165) (13,165)
At 29 October 2023 940,617 7,328 - 947,945
Depreciation
At 1 November 2022 - 7,328 4,313 11,641
Charge for the period 9,406 - - 9,406
On disposals - - (4,313) (4,313)
At 29 October 2023 9,406 7,328 - 16,734
Net book value
At 29 October 2023 931,211 - - 931,211
At 31 October 2022 728,530 - 8,852 737,382
4 Debtors 2023 2022
£ £
Other debtors - 94
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 42,518 9,628
Trade creditors 18,536 -
Director's loan acocunt 39,800 (2,062)
Taxation and social security costs - 1,633
Other creditors 419,910 230,858
520,764 240,057
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 436,155 489,642
7 Controlling party
The ultimate controlling party is Courtney Rogers.
8 Other information
Diamond Creative Investments Ltd is a private company limited by shares and incorporated in England. Its registered office is:
71-75 Shelton Street
London
England
WC2H 9JQ
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