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REGISTERED NUMBER: 06264147 (England and Wales)









Financial Statements

for the Year Ended 31 July 2024

for

Diamco Limited

Diamco Limited (Registered number: 06264147)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Diamco Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: B Levy
Mrs H Levy
Ms J Levy
Ms L Levy
R Pantone





SECRETARY: B Levy





REGISTERED OFFICE: c/o Parker Cavendish, Suite 301,
Stanmore Business and Innovation Centre
Howard Road
Stanmore
Middlesex
HA7 1FW





REGISTERED NUMBER: 06264147 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
Suite 301
Stanmore Business and Innovation Centre
Howard Road
Stanmore
Middlesex
HA7 1FW

Diamco Limited (Registered number: 06264147)

Statement of Financial Position
31 July 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 2,283 2,603
2,283 2,603

CURRENT ASSETS
Inventories 6 1,742,875 1,943,700
Debtors 7 322,682 472,235
Cash at bank 1,075,147 949,388
3,140,704 3,365,323
CREDITORS
Amounts falling due within one year 8 (1,255,391 ) (1,311,695 )
NET CURRENT ASSETS 1,885,313 2,053,628
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,887,596

2,056,231

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,887,496 2,056,131
SHAREHOLDERS' FUNDS 1,887,596 2,056,231

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2025 and were signed on its behalf by:





B Levy - Director


Diamco Limited (Registered number: 06264147)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Diamco Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

Goodwill
Goodwill is amortised over its estimated useful life of ten years

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% Straight line

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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 profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

Diamco Limited (Registered number: 06264147)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 200,000
AMORTISATION
At 1 August 2023
and 31 July 2024 200,000
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Long and
leasehold fittings Totals
£    £    £   
COST
At 1 August 2023 1,100 32,033 33,133
Additions - 583 583
At 31 July 2024 1,100 32,616 33,716
DEPRECIATION
At 1 August 2023 - 30,530 30,530
Charge for year - 903 903
At 31 July 2024 - 31,433 31,433
NET BOOK VALUE
At 31 July 2024 1,100 1,183 2,283
At 31 July 2023 1,100 1,503 2,603

6. INVENTORIES
2024 2023
£    £   
Finished goods 1,742,875 1,943,700

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 258,467 454,852
Other debtors 64,215 17,383
322,682 472,235

Diamco Limited (Registered number: 06264147)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 57,807 59,558
Tax 1,043 64,836
Social security and other taxes 372 348
VAT 68,105 137,101
Credit Card Control Account 499 291
Directors' current accounts 1,121,315 1,044,261
Accruals and deferred income 6,250 5,300
1,255,391 1,311,695