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Unaudited Financial Statements |
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for the Year Ended 30 April 2021 |
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for |
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EBAS Diamond Holdings Limited |
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Unaudited Financial Statements |
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for the Year Ended 30 April 2021 |
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for |
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EBAS Diamond Holdings Limited |
EBAS Diamond Holdings Limited (Registered number: 08613562) |
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Contents of the Financial Statements |
for the Year Ended 30 April 2021 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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EBAS Diamond Holdings Limited |
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Company Information |
for the Year Ended 30 April 2021 |
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Directors: |
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Registered office: |
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Registered number: |
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Accountants: |
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120 New Cavendish Street, |
London |
W1W 6XX |
EBAS Diamond Holdings Limited (Registered number: 08613562) |
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Balance Sheet |
30 April 2021 |
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30.4.21 | 30.4.20 |
Notes | £ | £ |
Fixed assets |
Investments | 4 |
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Creditors |
Amounts falling due within one year | 5 | ( |
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Net current liabilities | ( |
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Total assets less current liabilities | ( |
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Capital and reserves |
Called up share capital | 6 |
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Retained earnings | 7 | ( |
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( |
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The directors acknowledge their 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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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EBAS Diamond Holdings Limited (Registered number: 08613562) |
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Notes to the Financial Statements |
for the Year Ended 30 April 2021 |
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1. | Statutory information |
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The Company is a private company limited by shares, incorporated in England and Wales. Its registered office is The Diamond Hangar, Long Border Road, London Stansted Airport, Stansted, Essex CM24 1RE. |
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The company's principal activity is that of a holding company. |
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2. | Accounting policies |
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Basis of preparing the financial statements |
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The financial statements are prepared in sterling, which is the functional currency of the entity. |
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Significant judgements and estimates |
In the application of the entities accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The financial statements do not included any significant judgements or estimates. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Going concern |
After making enquiries the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. |
EBAS Diamond Holdings Limited (Registered number: 08613562) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2021 |
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2. | Accounting policies - continued |
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Preparation of consolidated financial statements |
The financial statements contain information about EBAS Diamond Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
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3. | Employees and directors |
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The average number of employees during the year was
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4. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 May 2020 |
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Impairments | ( |
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At 30 April 2021 |
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Net book value |
At 30 April 2021 |
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At 30 April 2020 |
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The company's investments at the Balance Sheet date in the share capital of companies include the following: |
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Registered office: England |
Nature of business:
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Class of shares: | holding |
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Executive & Business Aviation Support Limited was placed into a Creditors Voluntary Liquidation on 27 August 2020 |
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5. | Creditors: amounts falling due within one year |
30.4.21 | 30.4.20 |
£ | £ |
Other creditors |
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EBAS Diamond Holdings Limited (Registered number: 08613562) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2021 |
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6. | Called up share capital |
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2019 | 2019 | 2018 | 2018 |
No. | £ | No. | £ |
Ordinary "A" shares of £1 each | 3,000,000 | 3,000,000 | 3,000,000 | 3,000,000 |
Ordinary "B" shares of £1 each | 3,000,000 | 3,000,000 | 3,000,000 | 3,000,000 |
6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 |
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Called-up share capital represents the nominal value of shares that have been issued. |
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7. | Reserves |
Retained |
earnings |
£ |
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At 1 May 2020 | ( |
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Deficit for the year | ( |
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At 30 April 2021 | ( |
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The retained earnings reserve records retained earnings and accumulated losses. |
EBAS Diamond Holdings Limited (Registered number: 08613562) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2021 |
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8. | Related party disclosures |
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Diamond Hangar Limited |
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During the year the company had the following transactions with Diamond Hangar Limited, a subsidiary company: |
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30.04.21 | 30.04.20 |
£ | £ |
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Amounts owed to the Company brought forward | - | 1,643,550 |
Amounts received during the year | - | (112,557 | ) |
Loans waived | - | (1,530,993 | ) |
Amounts owed to the Company carried forward | - | - |
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Atlas Petroleum International |
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During the year the company had the following transactions with Atlas Petroleum International, a company which is controlled by Prince Arthur Eze, who is regarded by the directors as being the ultimate controlling party: |
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30.04.21 | 30.04.20 |
£ | £ |
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Amounts owed by the Company brought forward | (1,576 | ) | (1,576 | ) |
Amounts owed by the Company carried forward | (1,576 | ) | (1,576 | ) |
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The above loans are interest free, unsecured and repayable on demand. |
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9. | Ultimate controlling party |
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During the year the directors regarded Prince Arthur Eze as the ultimate controlling party. |