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REGISTERED NUMBER: 03439053 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

DIAMOND BUSINESS INTERIORS LTD

DIAMOND BUSINESS INTERIORS LTD (REGISTERED NUMBER: 03439053)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DIAMOND BUSINESS INTERIORS LTD

COMPANY INFORMATION
for the Year Ended 30 September 2024







DIRECTOR: N Pollitt





SECRETARY: K D Gordon





REGISTERED OFFICE: 4 Horton Street
Wigan
Lancashire
WN6 7TF





REGISTERED NUMBER: 03439053 (England and Wales)





ACCOUNTANTS: Studholme-Bell Limited
Chartered Accountants
& Business Advisors
Vantage House
3 East Terrace Business Park
Euxton Lane, Euxton
Chorley
Lancashire
PR7 6TB

DIAMOND BUSINESS INTERIORS LTD (REGISTERED NUMBER: 03439053)

BALANCE SHEET
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 295,441 360,527

CURRENT ASSETS
Stocks 5 77,612 365,890
Debtors 6 821,427 951,627
Cash at bank and in hand 1,609,416 1,377,653
2,508,455 2,695,170
CREDITORS
Amounts falling due within one year 7 1,208,221 1,647,464
NET CURRENT ASSETS 1,300,234 1,047,706
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,595,675

1,408,233

CREDITORS
Amounts falling due after more than one
year

8

(152,635

)

-

PROVISIONS FOR LIABILITIES (51,291 ) (66,124 )
NET ASSETS 1,391,749 1,342,109

CAPITAL AND RESERVES
Called up share capital 78 78
Retained earnings 1,391,671 1,342,031
1,391,749 1,342,109

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

DIAMOND BUSINESS INTERIORS LTD (REGISTERED NUMBER: 03439053)

BALANCE SHEET - continued
30 September 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 9 May 2025 and were signed by:





N Pollitt - Director


DIAMOND BUSINESS INTERIORS LTD (REGISTERED NUMBER: 03439053)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2024


1. STATUTORY INFORMATION

Diamond Business Interiors Ltd 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.

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.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:


Leasehold property improvementsin accordance with the property
Plant and machinery15% on reducing balance
Fixtures and fittings15% on reducing balance
Motor vehicles25% on reducing balance
Computer equipment33% on cost


The gain or loss arising on disposal of an asset is determined as the difference between the sales proceeds and the carrying value of the asset, and is credited or charged to profit and loss.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, 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 balance sheet date.

DIAMOND BUSINESS INTERIORS LTD (REGISTERED NUMBER: 03439053)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024


2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 October 2023 171,269 17,475 143,753
Additions 3,617 986 16,035
At 30 September 2024 174,886 18,461 159,788
DEPRECIATION
At 1 October 2023 115,268 5,243 91,019
Charge for year 13,031 1,982 10,315
At 30 September 2024 128,299 7,225 101,334
NET BOOK VALUE
At 30 September 2024 46,587 11,236 58,454
At 30 September 2023 56,001 12,232 52,734

DIAMOND BUSINESS INTERIORS LTD (REGISTERED NUMBER: 03439053)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 October 2023 375,569 73,032 781,098
Additions - 2,873 23,511
At 30 September 2024 375,569 75,905 804,609
DEPRECIATION
At 1 October 2023 143,797 65,244 420,571
Charge for year 57,943 5,326 88,597
At 30 September 2024 201,740 70,570 509,168
NET BOOK VALUE
At 30 September 2024 173,829 5,335 295,441
At 30 September 2023 231,772 7,788 360,527

5. STOCKS
30.9.24 30.9.23
£    £   
Work-in-progress 77,612 365,890

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 793,081 917,225
Other debtors 2,441 3,441
Prepayments 25,905 30,961
821,427 951,627

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts - 2,707
Trade creditors 756,776 847,420
Tax 76,028 81,983
Social security and other taxes 13,866 177,589
VAT 42,508 -
Other creditors 88,881 339,638
Accrued expenses 230,162 198,127
1,208,221 1,647,464

DIAMOND BUSINESS INTERIORS LTD (REGISTERED NUMBER: 03439053)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Directors Loan Account 152,635 -

9. FINANCIAL INSTRUMENTS

2023 2022
£    £   
Carrying amount of financial assets
Instruments measured at fair value through profit and loss - 34,156