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

REGISTERED NUMBER: 04587784 (England and Wales)

Financial Statements for the Year Ended 29 November 2019

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

29,866

39,977

CURRENT ASSETS

Debtors

5

3,437,285

1,862,533

Cash at bank and in hand

8,818

8,921

3,446,103

1,871,454

CREDITORS

Amounts falling due within one year

6

3,106,510

1,525,068

NET CURRENT ASSETS

339,593

346,386

TOTAL ASSETS LESS CURRENT LIABILITIES

369,459

386,363

CREDITORS

Amounts falling due after more than one year

7

21,445

32,859

NET ASSETS

348,014

353,504

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

347,814

353,304

SHAREHOLDERS' FUNDS

348,014

353,504

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 November 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 November 2019 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 and authorised for issue on 26 February 2021 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 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.

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

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 year was 5 (2018 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

Motor

Computer

& furniture

vehicles

equipment

Totals

£

£

£

£

COST

At 30 November 2018

18,111

68,968

34,646

121,725

Additions

2,289

11,592

766

14,647

Disposals

(4,932

)

(26,682

)

(31,288

)

(62,902

)

At 29 November 2019

15,468

53,878

4,124

73,470

DEPRECIATION

At 30 November 2018

14,397

35,188

32,163

81,748

Charge for year

911

9,681

902

11,494

Eliminated on disposal

(4,460

)

(14,488

)

(30,690

)

(49,638

)

At 29 November 2019

10,848

30,381

2,375

43,604

NET BOOK VALUE

At 29 November 2019

4,620

23,497

1,749

29,866

At 29 November 2018

3,714

33,780

2,483

39,977

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

Motor

vehicles

£

COST

At 30 November 2018

56,978

Additions

11,592

Disposals

(26,682

)

At 29 November 2019

41,888

DEPRECIATION

At 30 November 2018

24,928

Charge for year

9,248

Eliminated on disposal

(14,488

)

At 29 November 2019

19,688

NET BOOK VALUE

At 29 November 2019

22,200

At 29 November 2018

32,050

5.

DEBTORS

2019

2018

£

£

Amounts falling due within one year:

Trade debtors

6,000

54,074

Other debtors

504,225

867,032

VAT

27,358

2,588

Deferred tax asset

53,178

59,519

Prepayments and accrued income

2,816,807

849,603

3,407,568

1,832,816

Amounts falling due after more than one year:

Other debtors

29,717

29,717

Aggregate amounts

3,437,285

1,862,533

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Finance leases

4,555

6,462

Trade creditors

372,823

57,774

Tax

(36,797

)

(31,097

)

Social security and other taxes

35,082

26,500

Other creditors

2,410,763

1,418,203

Directors' current accounts

263,330

1,085

Accruals and deferred income

56,754

46,141

3,106,510

1,525,068

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Finance leases

21,445

32,859

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 29 November 2019 and the

period ended 29 November 2018:

2019

2018

£

£

N J Jarvis

Balance outstanding at start of year

(1,085

)

(51,489

)

Amounts advanced

-

80,404

Amounts repaid

(262,245

)

(30,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(263,330

)

(1,085

)

9.	RELATED PARTY DISCLOSURES

During the period under review the company made sales of £30,576 (2018: £34,198) to Glenwood Homes Ltd of

which N Jarvis is a director.

During the period under review the company made sales of £1,205,192 (2018: £nil) to Glenwood Homes

(Oxshott) Ltd of which N Jarvis is a director.

During the period under review the company made sales of £713,250 (2018: £nil) to Glenwood Homes

(Hornbeams) Ltd of which N Jarvis is a director.

During the period under review the company made management charges of £150,000 (2018: £nil) to Ashton

Developments Ltd of which S J Dines, who is related to N Jarvis, is a director.

During the period under review the company incurred management charges of £25,000 (2018: £25,000) from

Glenwood Homes Ltd of which N Jarvis is a director:

All transactions were made on normal commercial terms.

'Other debtors' includes the sum of £484,548 (2018: £601,890) owed by Glenwood Homes Limited of which N

Jarvis is a director.

'Other creditors' includes the sum of £43,371 (2018: £nil) owed to S J Dines who is related to N Jarvis.

'Other creditors' includes the sum of £812,005 (2018 Other debtors: £121,744) owed by Glenwood Homes

(Oxshott) Ltd of which N Jarvis is a director.

'Other creditors' includes the sum of £461,885 (2018: £27,679) owed to Glenwood Homes (Hornbeams) Limited

of which N Jarvis is a director.

'Other creditors' includes the sum of £28,000 (2018: £24,000) owed to Rochester Construction Limited of which

N Jarvis is a director.

'Other creditors' includes the sum of £nil (2018: £130,000) owed to Glenwood Homes (London) Limited of

which N Jarvis is a director.

'Other creditors' includes the sum of £nil (2018: £70,000) owed to Glenwood Homes (Teddington) Limited of

which N Jarvis is a director.

'Other creditors' includes the sum of £nil (2018: £93,393) owed to 36415201 Limited of which N Jarvis is a

director.

'Other creditors' includes the sum of £120,923 (2018: £42,176) owed to J Jarvis who is the spouse of N Jarvis.

'Other creditors' includes the sum of £91,488 (2018: £115) owed to C Dines who is related to N Jarvis.

10.	ULTIMATE CONTROLLING PARTY