Registered number
13335837
Diamond GA Portfolio Limited
Report and Accounts
31 March 2024
Accountancy 4 Wealth Limited
Accountants and Business Advisors
33 Wolverhampton Road
Cannock
Staffordshire
WS11 1AP
Diamond GA Portfolio Limited
Registered number: 13335837
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 67,158 546,810
Cash at bank and in hand 556,060 16,044
623,218 562,854
Creditors: amounts falling due within one year 4 (628,400) (562,810)
Net current (liabilities)/assets (5,182) 44
Net (liabilities)/assets (5,182) 44
Capital and reserves
Called up share capital 100 100
Profit and loss account (5,282) (56)
Shareholders' funds (5,182) 44
The director is 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 director acknowledges her 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.
G Abbas
Director
Approved by the board on 1 November 2024
Diamond GA Portfolio Limited
Notes to the Accounts
for the year ended 31 March 2024
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.
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.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 1
3 Debtors 2024 2023
£ £
Other debtors 67,158 546,810
4 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 628,400 562,810
5 Related party transactions
At the year end the directros loan account for G Abbas was overdrawn by £67,158.
6 Controlling party
The company is controlled by its director and his family.
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