2023-03-012024-02-292024-02-29false07512244Diamond Green Energy 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Diamond Green Energy Ltd

(formerly DIAMOND GAS AND HEATING LIMITED)

Registered Number
07512244
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

Diamond Green Energy Ltd
Company Information
for the year from 1 March 2023 to 29 February 2024

Directors

Ian John Simm
Louise Rosemary Simm

Registered Address

Unit 4 Apex Centre
Speedfields Park
Fareham
PO14 1TP

Registered Number

07512244 (England and Wales)
Diamond Green Energy Ltd
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets312,625-
Tangible assets422,36017,706
34,98517,706
Current assets
Stocks65,53260,000
Debtors255,166145,477
Cash at bank and on hand96,755120,625
417,453326,102
Creditors amounts falling due within one year(356,565)(265,938)
Net current assets (liabilities)60,88860,164
Total assets less current liabilities95,87377,870
Creditors amounts falling due after one year(179,113)(57,762)
Provisions for liabilities-(4,427)
Net assets(83,240)15,681
Capital and reserves
Called up share capital100100
Profit and loss account(83,340)15,581
Shareholders' funds(83,240)15,681
The financial statements were approved and authorised for issue by the Board of Directors on 15 February 2025, and are signed on its behalf by:
Ian John Simm
Director
Louise Rosemary Simm
Director

Registered Company No. 07512244
Diamond Green Energy Ltd
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
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.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery-5
Fixtures and fittings-5
Office Equipment20-
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year1614
3.Intangible assets

Total

£
Cost or valuation
Additions15,000
At 29 February 2415,000
Amortisation and impairment
Charge for year2,375
At 29 February 242,375
Net book value
At 29 February 2412,625
At 28 February 23-
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 March 2329,642
Additions9,444
At 29 February 2439,086
Depreciation and impairment
At 01 March 2311,937
Charge for year4,789
At 29 February 2416,726
Net book value
At 29 February 2422,360
At 28 February 2317,706
5.Other commitments
The company had total guarantees contingencies and commitments at the year end of £143,086 (2023 £148,009).
6.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
Ian John Simm23,70765,16843,90844,967
Louise Rosemary Simm23,70765,16843,90844,967
47,414130,33687,81689,934
Interest has been charged at the HMRC official rate.