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REGISTERED NUMBER: 11148475 (England and Wales)










LLESIANT DELTA WELLBEING LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






LLESIANT DELTA WELLBEING LTD (REGISTERED NUMBER: 11148475)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


LLESIANT DELTA WELLBEING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: O Bowen
S Watkins
J Morgan





REGISTERED OFFICE: Unit 2
Dafen Industrial Estate
Heol Aur Dafen
Llanelli
Carmarthenshire
SA14 8QN





REGISTERED NUMBER: 11148475 (England and Wales)





AUDITORS: Bevan Buckland LLP
Chartered Accountants
& Statutory Auditors
45 High Street
Haverfordwest
Pembrokeshire
SA61 2BP

LLESIANT DELTA WELLBEING LTD (REGISTERED NUMBER: 11148475)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
ASSETS

CURRENT ASSETS
Stocks 534,546 438,408
Debtors 4 2,000,831 1,265,360
Cash at bank 856,375 974,965
3,391,752 2,678,733

CAPITAL, RESERVES AND LIABILITIES

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 344,545 (3,414,635 )
344,546 (3,414,634 )

CREDITORS 5 2,858,206 2,190,367

PENSION LIABILITY 7 189,000 3,903,000
3,391,752 2,678,733

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 Board of Directors and authorised for issue on 1 November 2023 and were signed on its behalf by:





O Bowen - Director


LLESIANT DELTA WELLBEING LTD (REGISTERED NUMBER: 11148475)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Llesiant Delta Wellbeing Ltd is a private company, limited by shares , registered in England and Wales. 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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits
The company operates both defined benefit and contribution schemes. All contributions due have been paid or accrued for.

Tangible assets
The company's de-minimus policy for the capitalisation of assets is £10,000.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 157 (2022 - 139 ) .

LLESIANT DELTA WELLBEING LTD (REGISTERED NUMBER: 11148475)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 318,407 316,854
Amounts owed by group undertakings 1,553,887 509,808
Accrued income 128,537 438,698
2,000,831 1,265,360

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Receipts in advance 175,000 38,552
Trade creditors 334,863 150,823
Amounts owed to group undertakings 1,801,203 1,395,976
Social security and other taxes 186,124 248,119
VAT 309,224 295,958
Accrued expenses 51,792 60,939
2,858,206 2,190,367

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Alun Evans (Senior Statutory Auditor)
for and on behalf of Bevan Buckland LLP

7. EMPLOYEE BENEFIT OBLIGATIONS

The company operates a defined benefit scheme in the UK. A full actuarial valuation was carried out at 31 March 2020.

The amounts recognised in the balance sheet are as follows:

Defined benefit
pension plans
2023 2022
£    £   
Present value of funded obligations (8,172,000 ) (10,591,000 )
Fair value of plan assets 7,983,000 6,688,000
(189,000 ) (3,903,000 )
Present value of unfunded obligations - -
Deficit (189,000 ) (3,903,000 )
Net liability (189,000 ) (3,903,000 )

LLESIANT DELTA WELLBEING LTD (REGISTERED NUMBER: 11148475)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. EMPLOYEE BENEFIT OBLIGATIONS - continued

The amounts recognised in profit or loss are as follows:

Defined benefit
pension plans
2023 2022
£    £   
Current service cost & benefit obligations 1,827,000 1,374,000
Net interest from net defined benefit
asset/liability

(99,000

)

129,000
Past service cost - -
Administrative expenses 17,000 13,000
1,745,000 1,516,000

Actual return on plan assets (227,000 ) 419,000

Changes in the present value of the defined benefit obligation are as follows:

Defined benefit
pension plans
2023 2022
£    £   
Opening defined benefit obligation 10,591,000 9,104,000
Current service cost & benefit obligations 1,827,000 1,374,000
Contributions by scheme participants 559,000 212,000
Interest cost - 203,000
Actuarial losses/(gains) (4,577,000 ) (325,000 )
Benefits paid (228,000 ) 23,000
8,172,000 10,591,000

Changes in the fair value of scheme assets are as follows:

Defined benefit
pension plans
2023 2022
£    £   
Opening fair value of scheme assets 6,688,000 5,458,000
Administration expenses (17,000 ) (13,000 )
Contributions by employer 739,000 589,000
Contributions by scheme participants 262,000 212,000
Benefits paid (228,000 ) 23,000
Interest 198,000 129,000
Remeasurements (assets) 341,000 290,000
7,983,000 6,688,000

LLESIANT DELTA WELLBEING LTD (REGISTERED NUMBER: 11148475)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. EMPLOYEE BENEFIT OBLIGATIONS - continued

The amounts recognised in other comprehensive income are as follows:

Defined benefit
pension plans
2023 2022
£    £   
Actuarial gains/(losses) 4,918,000 615,000
4,918,000 615,000

The major categories of scheme assets as amounts of total scheme assets are as follows:

Defined benefit
pension plans
2023 2022
£    £   
Equities 5,939,000 4,836,000
Government bonds 40,000 87,000
Bonds 567,000 528,000
Property 1,078,000 876,000
Other 303,000 247,000
Cash/liquidity 56,000 114,000
7,983,000 6,688,000

Principal actuarial assumptions at the balance sheet date (expressed as weighted averages):

2023 2022
Discount rate 4.70% 2.80%
Future salary increases 4.20% 4.70%
Future pension increases 2.80% 3.30%
CPI inflation/CARE benefits revaluation 2.70% 3.20%

8. ULTIMATE CONTROLLING PARTY

During the period under review the company was controlled by Carmarthenshire County Council, by virtue of their 100% holding of the issued share capital.

Carmarthenshire County Council guarantees the Dyfed Pension Fund deficit which is detailed in note 7 to the financial statements.