1 October 2023 v2025.36.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP042814862023-10-012024-09-30042814862024-09-30042814862023-09-3004281486core:WithinOneYear2024-09-3004281486core:WithinOneYear2023-09-3004281486core:ShareCapital2024-09-3004281486core:ShareCapital2023-09-3004281486core:OtherReservesSubtotal2024-09-3004281486core:OtherReservesSubtotal2023-09-3004281486core:RetainedEarningsAccumulatedLosses2024-09-3004281486core:RetainedEarningsAccumulatedLosses2023-09-3004281486bus:Director12023-10-012024-09-3004281486bus:RegisteredOffice2023-10-012024-09-30042814862022-10-012023-09-3004281486core:LandBuildings2023-10-01042814862023-10-0104281486core:PlantMachinery2023-10-012024-09-3004281486core:LandBuildings2024-09-3004281486core:PlantMachinery2024-09-3004281486core:LandBuildings2023-10-012024-09-3004281486core:LandBuildings2023-09-300428148612023-10-012024-09-3004281486countries:EnglandWales2023-10-012024-09-3004281486bus:AuditExemptWithAccountantsReport2023-10-012024-09-3004281486bus:PrivateLimitedCompanyLtd2023-10-012024-09-3004281486bus:SmallEntities2023-10-012024-09-3004281486bus:FullAccounts2023-10-012024-09-30
Company registration number:
04281486
MC Diamonds Limited
Unaudited Filleted Financial Statements for the year ended
30 September 2024
MC Diamonds Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of MC Diamonds Limited
Year ended
30 September 2024
As described on the statement of financial position, the Board of Directors of
MC Diamonds Limited
are responsible for the preparation of the
financial statements
for the year ended
30 September 2024
, which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
MABCO Ltd ta Maurice Braganza & Company
19 Lewis Road
Richmond
Surrey
TW10 6SA
United Kingdom
MC Diamonds Limited
Statement of Financial Position
30 September 2024
20242023
Note££
Fixed assets    
Tangible assets 5
306,237
 
307,008
 
Current assets    
Debtors 6
55,432
 
78,319
 
Cash at bank and in hand
181,758
 
83,948
 
237,190
 
162,267
 
Creditors: amounts falling due within one year 7
(152,230
)
(142,859
)
Net current assets
84,960
 
19,408
 
Total assets less current liabilities 391,197   326,416  
Capital and reserves    
Called up share capital
80
 
80
 
Other reserves
40
 
40
 
Profit and loss account
391,077
 
326,296
 
Shareholders funds
391,197
 
326,416
 
For the year ending
30 September 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
12 June 2025
, and are signed on behalf of the board by:
Mr Nicolai Adelman
Director
Company registration number:
04281486
MC Diamonds Limited
Notes to the Financial Statements
Year ended
30 September 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Unit 4
,
90 Queensbury Road
,
Wembley
,
Middlesex
,
HA0 1QG
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 October 2022. Details of how FRS 102 has affected the reported financial position and financial performance is given in the transition to FRS 102 note.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
8
(2023:
8
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 October 2023
463,568
  -  
463,568
 
Additions -  
11,333
 
11,333
 
At
30 September 2024
463,568
 
11,333
 
474,901
 
Depreciation      
At
1 October 2023
156,560
  -  
156,560
 
Charge
9,271
 
2,833
 
12,104
 
At
30 September 2024
165,831
 
2,833
 
168,664
 
Carrying amount      
At
30 September 2024
297,737
 
8,500
 
306,237
 
At 30 September 2023
307,008
  -  
307,008
 

6 Debtors

20242023
££
Trade debtors
43,807
 
49,966
 
Other debtors
11,625
 
28,353
 
55,432
 
78,319
 

7 Creditors: amounts falling due within one year

20242023
££
Trade creditors
88,026
 
83,920
 
Taxation and social security
25,928
 
33,107
 
Other creditors
38,276
 
25,832
 
152,230
 
142,859