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Registered number: 09601271
Diamonte Jets Limited
Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 09601271
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 66,147 74,019
66,147 74,019
CURRENT ASSETS
Debtors 5 121,768 49,247
Cash at bank and in hand 22,610 200,315
144,378 249,562
Creditors: Amounts Falling Due Within One Year 6 (1,009,853 ) (1,014,240 )
NET CURRENT ASSETS (LIABILITIES) (865,475 ) (764,678 )
TOTAL ASSETS LESS CURRENT LIABILITIES (799,328 ) (690,659 )
Creditors: Amounts Falling Due After More Than One Year 7 (38,816 ) (46,265 )
NET LIABILITIES (838,144 ) (736,924 )
CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Profit and Loss Account (839,144 ) (737,924 )
SHAREHOLDERS' FUNDS (838,144) (736,924)
Page 1
Page 2
For the year ending 31 May 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 his 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
Mr Rohan Jayawardene
Director
13/02/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Diamonte Jets Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09601271 . The registered office is Vicarage Chambers, 9 Park Sqaure East, Leeds, LS1 2LH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 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
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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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:
Motor Vehicles 33% Straight Line
Computer Equipment 20% Straight Line
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 6)
2 6
4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 June 2023 120,583 1,799 122,382
Additions 48,082 82 48,164
As at 31 May 2024 168,665 1,881 170,546
Depreciation
As at 1 June 2023 48,202 161 48,363
Provided during the period 55,659 377 56,036
As at 31 May 2024 103,861 538 104,399
Net Book Value
As at 31 May 2024 64,804 1,343 66,147
As at 1 June 2023 72,381 1,638 74,019
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Page 4
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 118,403 47,420
Other debtors 1,000 1,000
VAT 2,365 827
121,768 49,247
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 152,980 94,579
Other taxes and social security 2,040 2,860
Director's loan account 854,833 916,801
1,009,853 1,014,240
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 38,816 46,265
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
Page 4