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REGISTERED NUMBER: SC322635 (Scotland)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Lotus Diamond Limited

Lotus Diamond Limited (Registered number: SC322635)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lotus Diamond Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: H Yalcin





REGISTERED OFFICE: 192 Dukes Road,
Burnside
Glasgow
G73 5AA





REGISTERED NUMBER: SC322635 (Scotland)





ACCOUNTANTS: Elliott and Company
1A Station Buildings
Station Road
Gobowen
Oswestry
Shropshire
SY11 3JS

Lotus Diamond Limited (Registered number: SC322635)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 628,271 72,078

CURRENT ASSETS
Stocks 862,801 811,940
Prepayments and accrued income 127,045 113,881
Cash at bank 4,882 165,655
994,728 1,091,476
CREDITORS
Amounts falling due within one year 5 911,793 456,575
NET CURRENT ASSETS 82,935 634,901
TOTAL ASSETS LESS CURRENT
LIABILITIES

711,206

706,979

CREDITORS
Amounts falling due after more than one
year

6

24,157

62,891
NET ASSETS 687,049 644,088

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 686,949 643,988
SHAREHOLDERS' FUNDS 687,049 644,088

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

Lotus Diamond Limited (Registered number: SC322635)

Balance Sheet - continued
31 May 2024


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 director and authorised for issue on 7 April 2025 and were signed by:





H Yalcin - Director


Lotus Diamond Limited (Registered number: SC322635)

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

1. STATUTORY INFORMATION

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

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

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 - 15% on reducing balance
Computer equipment - 33% on cost

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 June 2023 70,800 6,615 6,990 84,405
Additions 556,385 - - 556,385
At 31 May 2024 627,185 6,615 6,990 640,790
DEPRECIATION
At 1 June 2023 - 5,337 6,990 12,327
Charge for year - 192 - 192
At 31 May 2024 - 5,529 6,990 12,519
NET BOOK VALUE
At 31 May 2024 627,185 1,086 - 628,271
At 31 May 2023 70,800 1,278 - 72,078

Lotus Diamond Limited (Registered number: SC322635)

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

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 523,803 132,333
Trade creditors 119,992 101,995
Taxation and social security 236,690 198,056
Other creditors 31,308 24,191
911,793 456,575

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Other creditors 24,157 62,891