Registration number:
Diamond Oak Investments Ltd
for the Year Ended 31 August 2024
Diamond Oak Investments Ltd
Contents
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Company Information |
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Statement of financial position |
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Notes to the Unaudited Financial Statements |
Diamond Oak Investments Ltd
Company Information
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Director |
Miss I M Zhivkov |
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Registered office |
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Accountants |
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Diamond Oak Investments Ltd
(Registration number: 10326627)
Statement of financial position as at 31 August 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Investment property |
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Other financial assets |
80,011 |
182,671 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
( |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net (liabilities)/assets |
( |
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Capital and reserves |
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Called up share capital |
1,000 |
1,000 |
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Revaluation reserve |
16,388 |
16,388 |
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Other reserves |
(11,968) |
90,692 |
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Retained earnings |
(99,969) |
(76,791) |
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Shareholders' (deficit)/funds |
(94,549) |
31,289 |
For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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Diamond Oak Investments Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Investment property
Diamond Oak Investments Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Diamond Oak Investments Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
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Investment properties |
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2024 |
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At 1 September |
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At 31 August |
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Valuation was carried out on 16 July 2020 by Keystone Property Finance.
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Other financial assets (current and non-current) |
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Financial assets at fair value through profit and loss |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 1 September 2023 |
182,671 |
182,671 |
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Fair value adjustments |
(102,660) |
(102,660) |
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At 31 August 2024 |
80,011 |
80,011 |
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Impairment |
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Carrying amount |
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At 31 August 2024 |
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80,011 |
The investments consist of bearer shares in Sundragon and PGF Polska Grupa Fotowoltaiczna S.A (previously Zastral S.A) that are recorded within an investment account managed by mBank S.A Brokerage House. The current value of these per the securities accounts is £78,822 (2023: £181,482). There are also shares relating to Blue Ring with its registered office in Grabina, Poland with a value of £1,189 (2023: £1,189). There is £1 (2023: £1), currently being held in the brokerage bank account which is shown as cash in hand in the accounts.
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Debtors |
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2024 |
2023 |
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Prepayments |
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Other debtors |
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Diamond Oak Investments Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
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Creditors |
Creditors: amounts falling due within one year
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Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Amounts due to related parties |
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Accruals |
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Due after one year |
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Loans and borrowings |
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Creditors within one year include mortgage liability which is secured of £1,745 (2023: £1,673).
Creditors falling due after one year include mortgage liability which is secured of £79,435 (2023: £89,792).
Creditors falling due after one year include mortgage liability repayable by instalments of £68,635 (2023: £71,539) due after more than five years.
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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1,000 |
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1,000 |
Each share is entitled to one vote in any circumstances and each share is also entitled pari passu to dividend payments or any other distribution, including a distribution arising from a winding up of the company.
Diamond Oak Investments Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
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Reserves |
The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:
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Foreign currency translation |
Total |
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Foreign currency translation gains/losses |
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The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:
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Foreign currency translation |
Non-distributable reserve |
Total |
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Foreign currency translation gains/losses |
( |
- |
( |
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Other comprehensive income |
- |
53,284 |
53,284 |
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( |
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Related party transactions |
Summary of transactions with other related parties
Included within creditors due after one year is a loan to Neri Spoo of £8,846. The director of Neri Spoo is related to the director and shareholder of Diamond Oak Investments Ltd.
Loans from related parties
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2024 |
Key management |
Total |
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At start of period |
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Advanced |
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At end of period |
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