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REGISTERED NUMBER: 05446164 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 APRIL 2024

FOR

DILIGENT IT LIMITED

DILIGENT IT LIMITED (REGISTERED NUMBER: 05446164)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 28 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DILIGENT IT LIMITED

COMPANY INFORMATION
for the year ended 28 April 2024







DIRECTOR: S C Wilson





SECRETARY: S C Wilson





REGISTERED OFFICE: Magma House
16 Davy Court
Castle Mound Way
Rugby
Warwickshire
CV23 0UZ





REGISTERED NUMBER: 05446164 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
16 Davy Court
Castle Mound Way
Rugby, CV23 0UZ
Magma Audit LLP is part
Of the Dains Group

DILIGENT IT LIMITED (REGISTERED NUMBER: 05446164)

BALANCE SHEET
28 April 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,164 1,713

CURRENT ASSETS
Stocks 184,000 190,000
Debtors 5 2,868 24,469
Cash at bank and in hand 574 6,011
187,442 220,480
CREDITORS
Amounts falling due within one year 6 (90,917 ) (154,398 )
NET CURRENT ASSETS 96,525 66,082
TOTAL ASSETS LESS CURRENT
LIABILITIES

97,689

67,795

CREDITORS
Amounts falling due after more than one
year

7

(10,833

)

-
NET ASSETS 86,856 67,795

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 85,856 66,795
SHAREHOLDERS' FUNDS 86,856 67,795

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 January 2025 and were signed by:





S C Wilson - Director


DILIGENT IT LIMITED (REGISTERED NUMBER: 05446164)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 28 April 2024


1. STATUTORY INFORMATION

Diligent IT Limited is a private company, limited by share capital and registered in England and Wales. The address of the registered office is Magma House, 16 Davy Court, Castle Mound Way, Rugby, Warwickshire, CV23 0UZ and the registered number is 05446164..

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is Pound Sterling (£) and figures are rounded to the nearest £1.

Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Plant & Machinery25%Straight line
Fixtures & Fittings25%Straight line
Computer Equipment25%Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

DILIGENT IT LIMITED (REGISTERED NUMBER: 05446164)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 28 April 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

DILIGENT IT LIMITED (REGISTERED NUMBER: 05446164)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 28 April 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 29 April 2023 2,662 10,182 6,610 19,454
Additions - - 249 249
At 28 April 2024 2,662 10,182 6,859 19,703
DEPRECIATION
At 29 April 2023 2,662 9,800 5,279 17,741
Charge for year - 260 538 798
At 28 April 2024 2,662 10,060 5,817 18,539
NET BOOK VALUE
At 28 April 2024 - 122 1,042 1,164
At 28 April 2023 - 382 1,331 1,713

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 2,868 24,469

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 24,764 23,520
Trade creditors 46,347 42,202
Taxation and social security 14,338 17,967
Other creditors 5,468 70,709
90,917 154,398

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 10,833 -