| Diamond Leicester Limited |
| Registered number: |
03416180 |
| Balance Sheet |
| as at 31 August 2020 |
|
| Notes |
|
|
2020 |
|
|
2019 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
945,000 |
|
|
945,000 |
|
| Current assets |
| Debtors |
4 |
|
1,164 |
|
|
- |
| Cash at bank and in hand |
|
|
65,065 |
|
|
2,793 |
|
|
|
66,229 |
|
|
2,793 |
|
| Creditors: amounts falling due within one year |
5 |
|
(102,783) |
|
|
(28,075) |
|
| Net current liabilities |
|
|
|
(36,554) |
|
|
(25,282) |
|
| Total assets less current liabilities |
|
|
|
908,446 |
|
|
919,718 |
|
|
| Provisions for liabilities |
|
|
|
(33,589) |
|
|
(34,783) |
|
|
| Net assets |
|
|
|
874,857 |
|
|
884,935 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
300 |
|
|
300 |
| Revaluation reserve |
6 |
|
|
432,217 |
|
|
432,217 |
| Profit and loss account |
|
|
|
442,340 |
|
|
452,418 |
|
| Shareholders' funds |
|
|
|
874,857 |
|
|
884,935 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Mrs S J Fox |
| Director |
| Approved by the board on 11 March 2021 |
|
| Diamond Leicester Limited |
| Notes to the Accounts |
| for the year ended 31 August 2020 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover represents the value of rental income receivable and sundry sales. |
|
|
Freehold Investment Properties |
|
The freehold investment properties are included at open market value based on annual valuation. In accordance with the Financial Reporting Standard for Smaller Entities, no depreciation or amortisation is provided in respect of Freehold Investment Properties. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
| 2 |
Employees |
2020 |
|
2019 |
| Number |
Number |
|
|
Average number of persons employed by the company |
4 |
|
4 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
| £ |
|
Cost |
|
At 1 September 2019 |
945,000 |
|
At 31 August 2020 |
945,000 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 August 2020 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 August 2020 |
945,000 |
|
At 31 August 2019 |
945,000 |
|
|
|
|
|
|
|
|
|
|
|
Freehold land and buildings: |
2020 |
|
2019 |
| £ |
£ |
|
Historical cost |
478,000 |
|
478,000 |
|
Cumulative depreciation based on historical cost |
- |
|
- |
|
|
|
|
|
|
478,000 |
|
478,000 |
|
|
The freehold investment properties were acquired in March 2002. They were revalued by the directors in 2006 on an open market valuation based on rental income generated. The directors do not consider that the current open market differs significantly from the 2006 valuation. |
| 4 |
Debtors |
2020 |
|
2019 |
| £ |
£ |
|
|
Other debtors |
1,164 |
|
- |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2020 |
|
2019 |
| £ |
£ |
|
|
Taxation and social security costs |
348 |
|
500 |
|
Other creditors |
102,435 |
|
27,575 |
|
|
|
|
|
|
102,783 |
|
28,075 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Revaluation reserve |
2020 |
|
2019 |
| £ |
£ |
|
|
At 1 September 2019 |
432,217 |
|
432,217 |
|
|
At 31 August 2020 |
432,217 |
|
432,217 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Other financial commitments |
2020 |
|
2019 |
| £ |
£ |
|
|
Total future minimum payments under non-cancellable operating leases |
|
38,000 |
|
38,000 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Other information |
|
|
Diamond Leicester Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
17 Station Road |
|
Hinckley |
|
Leicestershire |
|
LE10 1AW |
