Company Registration No. 06131833 (England and Wales)
DELPHIS ECO LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
DELPHIS ECO LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
DELPHIS ECO LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2022
31 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Intangible assets
3
68,959
118,796
Tangible assets
4
42,711
27,482
111,670
146,278
Current assets
Stocks
390,922
416,630
Debtors
5
745,813
575,794
Cash at bank and in hand
97,172
103,804
1,233,907
1,096,228
Creditors: amounts falling due within one year
6
(597,264)
(538,166)
Net current assets
636,643
558,062
Total assets less current liabilities
748,313
704,340
Capital and reserves
Called up share capital
7
4,768,049
3,739,198
Profit and loss reserves
(4,019,736)
(3,034,858)
Total equity
748,313
704,340
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 3 October 2023
M Jankovich-Besan
Director
Company Registration No. 06131833
DELPHIS ECO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 2 -
1
Accounting policies
Company information
Delphis Eco Limited is a private company limited by shares incorporated in England and Wales. The registered office is Acre House, 11-15 William Road, London, United Kingdom, NW1 3ER.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable truefuture. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods sold (dispatched from warehouse) in the normal course of business and is shown net of VAT.
1.4
Website and development costs
Amortisation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following basis:
Website
20% straight line
Development costs
20% straight line
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following basis:
Plant and machinery
20% straight line
Installation equipment
50% straight line
1.6
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.
1.7
Stocks
Stocks are stated at the lower of cost and net realisable value. Costs comprise of direct materials and those overheads that have been incurred in bringing the stocks to their present location and condition.
DELPHIS ECO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 3 -
1.8
Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks.
1.9
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
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.
Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.10
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.
1.11
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
1.12
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to expense on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
DELPHIS ECO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
15
10
3
Intangible fixed assets
Website
Development costs
Total
£
£
£
Cost
At 1 January 2022
28,080
252,456
280,536
Amortisation
At 1 January 2022
22,973
138,767
161,740
Amortisation charged for the year
2,780
47,057
49,837
At 31 December 2022
25,753
185,824
211,577
Carrying amount
At 31 December 2022
2,327
66,632
68,959
At 31 December 2021
5,107
113,689
118,796
4
Tangible fixed assets
Plant and machinery
Installation equipment
Total
£
£
£
Cost
At 1 January 2022
32,519
28,500
61,019
Additions
6,337
34,595
40,932
At 31 December 2022
38,856
63,095
101,951
Depreciation and impairment
At 1 January 2022
26,959
6,578
33,537
Depreciation charged for the year
2,878
22,825
25,703
At 31 December 2022
29,837
29,403
59,240
Carrying amount
At 31 December 2022
9,019
33,692
42,711
At 31 December 2021
5,560
21,922
27,482
DELPHIS ECO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 5 -
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
442,172
363,054
Other debtors
201,324
101,255
Prepayments and accrued income
102,317
111,485
745,813
575,794
6
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
533,929
440,240
Amounts due to parent undertaking
43,732
Other taxation and social security
23,377
14,596
Other creditors
33,820
32,707
Accruals
6,138
6,891
597,264
538,166
7
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
4,768,049
3,739,198
4,768,049
3,739,198
During the year, the company issued 1,028,851 Ordinary shares of £1 each at par.
8
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2022
2021
£
£
Within one year
99,870
95,400
Between two and five years
131,610
231,480
95,400