Diadem Homes Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04587784 (England and Wales)

Financial Statements

for the Period 1 December 2017 to 29 November 2018

for

Diadem Homes Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

N J Jarvis

SECRETARY:

S J Dines

REGISTERED OFFICE:

Como House

Warwick Road

Hampton Wick

Kingston

Surrey

KT1 4DW

REGISTERED NUMBER:

04587784 (England and Wales)

ACCOUNTANTS:

Fallows & Company Chartered Accountants

Archway House

81-82 Portsmouth Road

Surbiton

Surrey

KT6 5PT

BANKERS:

National Westminster Bank plc

5 Market Place

Kingston upon Thames

Surrey

KT1 1JX

FIXED ASSETS

Tangible assets

4

39,977

52,605

CURRENT ASSETS

Debtors

5

1,862,533

3,029,678

Cash at bank and in hand

8,921

279,824

1,871,454

3,309,502

CREDITORS

Amounts falling due within one year

6

1,525,068

2,190,052

NET CURRENT ASSETS

346,386

1,119,450

TOTAL ASSETS LESS CURRENT LIABILITIES

386,363

1,172,055

CREDITORS

Amounts falling due after more than one year

7

(32,859

)

(595,410

)

PROVISIONS FOR LIABILITIES

-

(9,809

)

NET ASSETS

353,504

566,836

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

353,304

566,636

SHAREHOLDERS' FUNDS

353,504

566,836

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 November 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 November 2018 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.

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 on 24 January 2020 and were signed by:

N J Jarvis - Director

1.	STATUTORY INFORMATION

Diadem Homes 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures, fittings & furniture

-

20% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Taxation

Taxation for the period 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.

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 period 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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 period was 5 (2017 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

Motor

Computer

& furniture

vehicles

equipment

Totals

£

£

£

£

COST

At 1 December 2017

16,703

68,968

31,570

117,241

Additions

1,408

-

3,076

4,484

At 29 November 2018

18,111

68,968

34,646

121,725

DEPRECIATION

At 1 December 2017

11,352

23,928

29,356

64,636

Charge for period

3,045

11,260

2,807

17,112

At 29 November 2018

14,397

35,188

32,163

81,748

NET BOOK VALUE

At 29 November 2018

3,714

33,780

2,483

39,977

At 30 November 2017

5,351

45,040

2,214

52,605

Fixed assets, included in the above, which are held under finance leases are as follows:

Motor

vehicles

£

COST

At 1 December 2017

and 29 November 2018

56,978

DEPRECIATION

At 1 December 2017

14,245

Charge for period

10,683

At 29 November 2018

24,928

NET BOOK VALUE

At 29 November 2018

32,050

At 30 November 2017

42,733

5.

DEBTORS

2018

2017

£

£

Amounts falling due within one year:

Trade debtors

54,074

1,660,585

Other debtors

867,032

159,455

VAT

2,588

18,907

Deferred tax asset

59,519

-

Prepayments and accrued income

849,603

1,171,987

1,832,816

3,010,934

Amounts falling due after more than one year:

Other debtors

29,717

18,744

Aggregate amounts

1,862,533

3,029,678

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Finance leases

6,462

4,468

Trade creditors

57,774

67,830

Tax

(31,097

)

(26,244

)

Social security and other taxes

26,500

26,053

Other creditors

1,418,203

2,026,456

Directors' current accounts

1,085

51,489

Accruals and deferred income

46,141

40,000

1,525,068

2,190,052

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Other loans - 1-2 years

-

556,624

Finance leases

32,859

38,786

32,859

595,410

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 29 November 2018 and the

year ended 30 November 2017:

2018

2017

£

£

N J Jarvis

Balance outstanding at start of period

(51,489

)

(11,617

)

Amounts advanced

80,405

-

Amounts repaid

(30,000

)

(39,872

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

(1,084

)

(51,489

)

9.	RELATED PARTY DISCLOSURES

During the period under review the company made sales of £34,198 (2017: £378,110) to Glenwood Homes Ltd

of which N Jarvis is a director.

During the period under review the company incurred management charges of £25,000 (2017: £26,000) from

Glenwood Homes Ltd of which N Jarvis is a director:

During the period under review the company accrued management charges receivable of £nil (2017: £700,000)

to Glenwood Homes Ltd of which N Jarvis is a director.

All transactions were made on normal commercial terms.

'Other debtors' includes the sum of £652,142 (2017: creditor - £988,860) owed by Glenwood Homes Limited of

which N Jarvis is a director.

'Other debtors' includes the sum of £142,026 (2017: £137,407) owed by Glenwood Homes (Oxshott) Ltd of

which N Jarvis is a director.

'Other debtors' includes the sum of £93,393 owed by 36415201 Ltd of which N Jarvis is a director.

'Other debtors' includes the sum of £4,344 (2017: creditor - £18,457) owed by A Dines who is related to N

Jarvis.

'Other creditors' includes the sum of £130,000 (2017: £130,000) owed to Glenwood Homes (London) Limited of

which N Jarvis is a director.

'Other creditors' includes the sum of £70,000 (2017: £70,000) owed to Glenwood Homes (Teddington) Limited

of which N Jarvis is a director.

'Other creditors' includes the sum of £27,679 owed to Glenwood Homes (Hornbeams) Limited of which N Jarvis

is a director.

'Other creditors' includes the sum of £42,176 (2017: £42,864) owed to J Jarvis who is the spouse of N Jarvis.

'Other creditors' includes the sum of £115 (2017: £114,970) owed to C Dines who is related to N Jarvis.

'Other creditors' includes the sum of £24,000 (2017: £20,000) owed to Rochester Construction Limited of which

N Jarvis is a director.

10.	ULTIMATE CONTROLLING PARTY