Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-28182022-03-01falseThe company provides telecommunication engineering services.18truetrue 11838900 2022-03-01 2023-02-28 11838900 2021-03-01 2022-02-28 11838900 2023-02-28 11838900 2022-02-28 11838900 c:Director2 2022-03-01 2023-02-28 11838900 d:PlantMachinery 2022-03-01 2023-02-28 11838900 d:PlantMachinery 2023-02-28 11838900 d:PlantMachinery 2022-02-28 11838900 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 11838900 d:CurrentFinancialInstruments 2023-02-28 11838900 d:CurrentFinancialInstruments 2022-02-28 11838900 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 11838900 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 11838900 d:ShareCapital 2023-02-28 11838900 d:ShareCapital 2022-02-28 11838900 d:RetainedEarningsAccumulatedLosses 2023-02-28 11838900 d:RetainedEarningsAccumulatedLosses 2022-02-28 11838900 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 11838900 d:AcceleratedTaxDepreciationDeferredTax 2022-02-28 11838900 d:TaxLossesCarry-forwardsDeferredTax 2023-02-28 11838900 d:TaxLossesCarry-forwardsDeferredTax 2022-02-28 11838900 c:OrdinaryShareClass1 2022-03-01 2023-02-28 11838900 c:OrdinaryShareClass1 2023-02-28 11838900 c:OrdinaryShareClass1 2022-02-28 11838900 c:FRS102 2022-03-01 2023-02-28 11838900 c:Audited 2022-03-01 2023-02-28 11838900 c:FullAccounts 2022-03-01 2023-02-28 11838900 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 11838900 c:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11838900










DELTAPRO TECH LTD










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
DELTAPRO TECH LTD
REGISTERED NUMBER: 11838900

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
8,723
14,763

  
8,723
14,763

Current assets
  

Debtors: amounts due within one year
 5 
683,511
320,205

Cash at bank and in hand
 6 
433,800
202,731

  
1,117,311
522,936

Creditors: amounts due within one year
 7 
(1,000,647)
(533,582)

Net current assets/(liabilities)
  
 
 
116,664
 
 
(10,646)

Total assets less current liabilities
  
125,387
4,117

Provisions for liabilities
  

Deferred tax
 9 
(1,657)
(1,429)

  
 
 
(1,657)
 
 
(1,429)

Net assets
  
123,730
2,688


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
123,630
2,588

  
123,730
2,688


The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 October 2023.


M A Luca
Director

The notes on pages 2 to 7 form part of these financial statements.
Page 1

 
DELTAPRO TECH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

The Company is a private company with share capital, incorporated and registered in England and Wales. The registered office is 3rd Floor Office, 207 Regent Street, London W1B 3HH.

2.Accounting policies

 
2.1

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 financial statements are rounded to the nearest pound.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.3

Revenue

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:

The company's revenue is derived from the provision of services.  Revenue is invoiced and recognised in line with time spent at agreed rates.  Revenue in respect of work done that has not yet been invoiced is recorded as Work in Progress within debtors.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 2

 
DELTAPRO TECH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss.
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 UK.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
 - The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
 - Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 3

 
DELTAPRO TECH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions 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.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from group companies.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. 

Financial assets that are measured at 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 Statement of Income and Retained Earnings.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 18 (2022 - 18).

Page 4

 
DELTAPRO TECH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 March 2022
18,120



At 28 February 2023

18,120



Depreciation


At 1 March 2022
3,357


Charge for the year on owned assets
6,040



At 28 February 2023

9,397



Net book value



At 28 February 2023
8,723



At 28 February 2022
14,763


5.


Debtors

2023
2022
£
£


Trade debtors
419,335
244,700

Other debtors
178,572
54,990

Prepayments and accrued income
85,604
20,515

683,511
320,205



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
433,800
202,731

433,800
202,731


Page 5

 
DELTAPRO TECH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
99,503
104,671

Amounts owed to group undertakings
424,778
262,900

Corporation tax
28,657
-

Other taxation and social security
262,564
108,542

Other creditors
115,622
46,071

Accruals and deferred income
69,523
11,398

1,000,647
533,582



8.


Loans

Included within amounts owed to group undertakings is a loan from the holding company, Deltatel SRL,  which is repayable on demand. The amount of the outstanding loan at the year end is £424,778 (2022: £262,900). The loan is unsecured and accrues interest at 2.75% per annum.











9.


Deferred taxation




2023


£






At beginning of year
(1,429)


Charged to profit or loss
(228)



At end of year
(1,657)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(1,657)
(2,805)

Tax losses carried forward
-
1,376

(1,657)
(1,429)

Page 6

 
DELTAPRO TECH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



11.


Controlling party

The company is wholly owned by Deltatel SRL, a company registered in Romania with its head office located at 11 Gh. Lazar Str. 300081 Timisoara.


12.


Auditors' information

The auditors' report on the financial statements for the year ended 28 February 2023 was unqualified.

The audit report was signed on 17 October 2023 by Detlev Anderson (Senior Statutory Auditor) on behalf of Kinnair Associates Limited.

 
Page 7