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

REGISTERED NUMBER: 04587784 (England and Wales)

Financial Statements for the Year Ended 30 November 2017

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

52,605

14,374

CURRENT ASSETS

Debtors

5

3,029,678

1,882,061

Cash at bank and in hand

279,824

28,550

3,309,502

1,910,611

CREDITORS

Amounts falling due within one year

6

2,150,052

1,030,385

NET CURRENT ASSETS

1,159,450

880,226

TOTAL ASSETS LESS CURRENT LIABILITIES

1,212,055

894,600

CREDITORS

Amounts falling due after more than one year

7

(595,410

)

(575,132

)

PROVISIONS FOR LIABILITIES

(9,809

)

-

NET ASSETS

606,836

319,468

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

606,636

319,268

SHAREHOLDERS' FUNDS

606,836

319,468

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2017 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 13 November 2018 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 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.

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 (2016 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

Motor

Computer

& furniture

vehicles

equipment

Totals

£

£

£

£

COST

At 1 December 2016

16,703

11,990

30,327

59,020

Additions

-

56,978

1,243

58,221

At 30 November 2017

16,703

68,968

31,570

117,241

DEPRECIATION

At 1 December 2016

8,400

8,914

27,332

44,646

Charge for year

2,952

15,014

2,024

19,990

At 30 November 2017

11,352

23,928

29,356

64,636

NET BOOK VALUE

At 30 November 2017

5,351

45,040

2,214

52,605

At 30 November 2016

8,303

3,076

2,995

14,374

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

Motor

vehicles

£

COST

Additions

56,978

At 30 November 2017

56,978

DEPRECIATION

Charge for year

14,245

At 30 November 2017

14,245

NET BOOK VALUE

At 30 November 2017

42,733

5.

DEBTORS

2017

2016

£

£

Amounts falling due within one year:

Trade debtors

1,660,585

175,792

Other debtors

159,455

214,791

VAT

18,907

54,648

Deferred tax asset

-

13,962

Prepayments and accrued income

1,171,987

1,404,124

3,010,934

1,863,317

Amounts falling due after more than one year:

Other debtors

18,744

18,744

Aggregate amounts

3,029,678

1,882,061

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Finance leases

4,468

-

Trade creditors

67,830

84,644

Tax

(26,244

)

(88,244

)

Social security and other taxes

26,053

25,622

Other creditors

1,986,456

991,746

Directors' current accounts

51,489

11,617

Accruals and deferred income

40,000

5,000

2,150,052

1,030,385

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other loans - 1-2 years

556,624

575,132

Finance leases

38,786

-

595,410

575,132

8.	RELATED PARTY DISCLOSURES

During the period under review the company made sales of £378,110 (2016: £1,394,376) to Glenwood Homes

Ltd of which N Jarvis is a director:

During the period under review the company incurred management charges of £26,000 (2016: nil) from

Glenwood Homes Ltd of which N Jarvis is a director:

During the period under review the company accrued management charges receivable of £700,000 (2016: nil) 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 £137,407 (2016: nil) owed by Glenwood Homes (Oxshott) Ltd of which N

Jarvis is a director.

'Other creditors' includes the sum of £988,860 (2016: £614,564) owed to Glenwood Homes Limited of which N

Jarvis is a director.

'Other creditors' includes the sum of £42,864 (2016 Debtor: £27,702) owed to J Jarvis who is the spouse of N

Jarvis.

'Other creditors' includes the sum of £48,901 (2016: £25,000) owed to S Dines who is related to N Jarvis.

'Other creditors' includes the sum of £130,000 (2016: £130,000) owed to Glenwood Homes (London) Limited of

which N Jarvis is a director.

'Other creditors' includes the sum of £41,225 (2016: £24,437) owed to Glenwood Homes (Investments) Limited

of which N Jarvis is a director.

'Other creditors' includes the sum of £70,000 (2016: £97,461) owed to Glenwood Homes (Teddington) Limited

of which N Jarvis is a director.

'Other creditors' includes the sum of £104,970 (2016 Debtor: £9,056) owed to C Dines who is related to N Jarvis.

'Other creditors' includes the sum of £8,457 (2016: Debtor - £24,018) owed to A Dines who is related to N

Jarvis.

9.	ULTIMATE CONTROLLING PARTY