Diamond Drainage (Scotland) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC503947 (Scotland)

Unaudited Financial Statements for the Year Ended 30 April 2021

for

DIAMOND DRAINAGE (SCOTLAND) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S W Hepburn

REGISTERED OFFICE:

5 Carden Place

Aberdeen

AB10 1UT

REGISTERED NUMBER:

SC503947 (Scotland)

FIXED ASSETS

Tangible assets

4

100,471

51,014

CURRENT ASSETS

Debtors

5

176,366

124,448

Cash at bank

77,803

37,578

254,169

162,026

CREDITORS

Amounts falling due within one year

6

145,498

102,142

NET CURRENT ASSETS

108,671

59,884

TOTAL ASSETS LESS CURRENT LIABILITIES

209,142

110,898

CREDITORS

Amounts falling due after more than one year

7

55,113

15,747

PROVISIONS FOR LIABILITIES

19,089

9,692

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

134,840

85,359

SHAREHOLDERS' FUNDS

134,940

85,459

209,142

110,898

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2021 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 27 April 2022 and were signed by:

S W Hepburn - Director

1.	STATUTORY INFORMATION

Diamond Drainage (Scotland) Limited is a private company, limited by shares , registered in Scotland. 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 and fittings

-

20% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

20% 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 4 (2020 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 May 2020

40,693

86,214

792

127,699

Additions

68,910

13,194

-

82,104

At 30 April 2021

109,603

99,408

792

209,803

DEPRECIATION

At 1 May 2020

16,115

60,412

158

76,685

Charge for year

20,034

12,454

159

32,647

At 30 April 2021

36,149

72,866

317

109,332

NET BOOK VALUE

At 30 April 2021

73,454

26,542

475

100,471

At 30 April 2020

24,578

25,802

634

51,014

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 May 2020

86,214

Additions

13,194

At 30 April 2021

99,408

DEPRECIATION

At 1 May 2020

60,412

Charge for year

12,454

At 30 April 2021

72,866

NET BOOK VALUE

At 30 April 2021

26,542

At 30 April 2020

25,802

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

174,703

120,705

Other debtors

1,663

3,743

176,366

124,448

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

9,167

-

Hire purchase contracts

10,914

12,238

Trade creditors

2,109

3,244

Taxation and social security

111,453

64,858

Other creditors

11,855

21,802

145,498

102,142

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

40,833

-

Hire purchase contracts

14,280

15,747

55,113

15,747

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

835

-

8.	ULTIMATE CONTROLLING PARTY