Company Registration No. 11381479 (England and Wales)
Dimaraz Construction Ltd
UNAUDITED FINANCIAL STATEMENTS PAGES FOR FILING WITH THE REGISTRAR
for the year ended 30 April 2021
Dimaraz Construction Ltd
UNAUDITED FINANCIAL STATEMENTS PAGES FOR FILING WITH THE REGISTRAR
Contents
Dimaraz Construction Ltd
Company Information
for the year ended 30 April 2021
Directors
Razvan Pletea
Alina-Madalina Pletea
Company Number
11381479 (England and Wales)
Registered Office
81 Green Pond Close
London
E17 6EE
Accountants
Orion Accountancy Office LTD
Office G6, 468 Church Lane
Kingsbury Green
London
NW9 8UA
Dimaraz Construction Ltd
Statement of financial position
as at 30 April 2021
Cash at bank and in hand
(3,300)
(759)
Creditors: amounts falling due within one year
(11,846)
(6,550)
Net current assets
10,170
2,988
Total assets less current liabilities
10,170
2,988
Creditors: amounts falling due after more than one year
(10,016)
-
Called up share capital
100
100
Profit and loss account
54
2,888
Shareholders' funds
154
2,988
For the year ending 30 April 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 January 2022 and were signed on its behalf by
Razvan Pletea
Director
Company Registration No. 11381479
Dimaraz Construction Ltd
Notes to the Accounts
for the year ended 30 April 2021
Dimaraz Construction Ltd is a private company, limited by shares, registered in England and Wales, registration number 11381479. The registered office and principal place of business is 81 Green Pond Close, London, E17 6EE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
On 30 January 2020 the World Health Organisation declared Coronavirus (COVID-19) a public health emergency. Following the outbreak of COVID-19 the company took advantage of some of the economic measures put in place by the UK Government and the company adapted its operations and overhead base accordingly.
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities due for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably.
- it is probable that the company will receive the consideration due under the contract.
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.
Dimaraz Construction Ltd
Notes to the Accounts
for the year ended 30 April 2021
The company has elected to apply Section 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognized when the company becomes party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
The company s policies for its major classes of financial assets and financial liabilities are set out below.
Financial assets
Basic financial assets, including trade or other debtors, cash and bank balances, inter-company working capital balances, and inter-company financing are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Such Assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Financial Liabilities
Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognized at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Impairment of financial assets
Financial assets measured at a cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset s carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset s carrying amount and the present value of estimated cash flows discounted at the asset s original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognized in profit and loss.
Derecognition of financial assets and financial liabilities
Financial assets are derecognized when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realize the asset and settle the liability simultaneously.
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial instructions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Dimaraz Construction Ltd
Notes to the Accounts
for the year ended 30 April 2021
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and loss account in the same period as the related expenditure.
Interest income is recognised in the Profit and loss account using the effective interest method.
Tax is recognized in the Profit and loss account, except that a charge attributable to an item of income and expense recognized as other comprehensive income or to an item recognized directly in equity is also recognized in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
The accounts are presented in £ sterling.
4
Debtors: amounts falling due within one year
2021
2020
Other debtors
25,316
9,869
5
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
1,984
-
Taxes and social security
9,173
5,258
Loans
The bank loan above is guaranteed by the UK Government under BBLS.
Analysis of the maturity of loans is given below:
Amounts falling due within one year: £1984
Dimaraz Construction Ltd
Notes to the Accounts
for the year ended 30 April 2021
6
Creditors: amounts falling due after more than one year
2021
2020
Loans
The bank loan above is guaranteed by the UK Government under BBLS.
Analysis of the maturity of loans is given below
Amounts falling due 1-2 years: £2400
Amounts falling due 2-5 years: £7200
Amounts falling due after more than 5 years: £416
Allotted, called up and fully paid:
100 (2020-100)Ordinary shares of £1 each
100
100
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director Loan
-
11,664
-
11,664
9
Transactions with related parties
During the year the director paid expenses on behalf of the company totaling £4021. The director withdrew monies totaling £41462. from the company. Dividends totaling £25777 have been credited to his director's current account. As at the balance sheet date, the director owed to the company the sum of £11664.
10
Average number of employees
During the year the average number of employees was 2 (2020: 1).
