Diamond Concept Limited - Accounts to registrar - small 16.3

REGISTERED NUMBER: 09673376 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 7 JULY 2015 TO 31 JULY 2016

FOR

DIAMOND CONCEPT LIMITED

T/A

PANACEA FURNITURE

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Report of the Accountants

4

DIRECTOR:

G Lucas

SECRETARY:

REGISTERED OFFICE:

98 Hornchurch Road

Hornchurch

Essex

RM11 1JS

REGISTERED NUMBER:

09673376 (England and Wales)

ACCOUNTANTS:

Stephen Farra Associates Limited

98 Hornchurch Road

Hornchurch

Essex

RM11 1JS

CURRENT ASSETS

Stocks

355,000

Debtors

4

109,943

Cash at bank

2,929

467,872

CREDITORS

Amounts falling due within one year

5

917,538

NET CURRENT LIABILITIES

(449,666

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(449,666

)

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

(449,667

)

SHAREHOLDERS' FUNDS

(449,666

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 July 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 July 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 7 April 2017 and were signed by:

G Lucas - Director

1.	STATUTORY INFORMATION

Diamond Concept 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

60,157

Other debtors

49,786

109,943

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

473,339

Amounts owed to group undertakings

442,369

Taxation and social security

139

Other creditors

1,691

917,538

The following reproduces the text of the report prepared for the director and members in respect of

the company's annual unaudited financial statements. In accordance with the Companies Act 2006,

the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement

and certain other primary statements and the Report of the Director are not required to be filed with

the Registrar of Companies.

As described on the balance sheet you are responsible for the preparation of the financial statements for the period ended 31 July 2016 set out on pages to and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Stephen Farra Associates Limited

98 Hornchurch Road

Hornchurch

Essex

RM11 1JS

7 April 2017