Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01false14No description of principal activity14truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01514840 2022-04-01 2023-03-31 01514840 2021-04-01 2022-03-31 01514840 2023-03-31 01514840 2022-03-31 01514840 c:Director1 2022-04-01 2023-03-31 01514840 d:Buildings d:ShortLeaseholdAssets 2022-04-01 2023-03-31 01514840 d:Buildings d:ShortLeaseholdAssets 2023-03-31 01514840 d:Buildings d:ShortLeaseholdAssets 2022-03-31 01514840 d:FurnitureFittings 2022-04-01 2023-03-31 01514840 d:FurnitureFittings 2023-03-31 01514840 d:FurnitureFittings 2022-03-31 01514840 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01514840 d:ComputerEquipment 2022-04-01 2023-03-31 01514840 d:ComputerEquipment 2023-03-31 01514840 d:ComputerEquipment 2022-03-31 01514840 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01514840 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01514840 d:CurrentFinancialInstruments 2023-03-31 01514840 d:CurrentFinancialInstruments 2022-03-31 01514840 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 01514840 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 01514840 d:ShareCapital 2023-03-31 01514840 d:ShareCapital 2022-03-31 01514840 d:RetainedEarningsAccumulatedLosses 2023-03-31 01514840 d:RetainedEarningsAccumulatedLosses 2022-03-31 01514840 c:OrdinaryShareClass1 2022-04-01 2023-03-31 01514840 c:OrdinaryShareClass1 2023-03-31 01514840 c:OrdinaryShareClass1 2022-03-31 01514840 c:FRS102 2022-04-01 2023-03-31 01514840 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 01514840 c:FullAccounts 2022-04-01 2023-03-31 01514840 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 01514840 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 01514840 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 01514840














DELTA FINANCIAL MANAGEMENT LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

 
DELTA FINANCIAL MANAGEMENT LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 8


 
DELTA FINANCIAL MANAGEMENT LIMITED
REGISTERED NUMBER:01514840

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
72,578
93,862

Current assets
  

Debtors: amounts falling due within one year
 5 
126,185
81,628

Cash at bank and in hand
  
539,030
833,297

  
665,215
914,925

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(376,190)
(530,190)

Net current assets
  
 
 
289,025
 
 
384,735

Total assets less current liabilities
  
361,603
478,597

Provisions for liabilities
  

Deferred tax
 7 
(12,038)
(8,509)

Net assets
  
349,565
470,088


Capital and reserves
  

Called up share capital 
 8 
50,000
50,000

Profit and loss account
  
299,565
420,088

  
349,565
470,088


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

Page 1

 
DELTA FINANCIAL MANAGEMENT LIMITED
REGISTERED NUMBER:01514840
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The Company has opted not to file the statement of comprehensive income 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 27 November 2023.




J M Ellis
Director

The notes on pages 3 to 8 form part of these financial statements.
Page 2

 
DELTA FINANCIAL MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Delta Financial Management Limited is a private limited company incorporated and registered in England & Wales, with its registered office address and principal place of business at 2 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire WD6 1JD.
The company's principal activity is acting as an independent financial adviser authorised regulated by the Financial Conduct Authority. The company primarily advises UK residents, both corporate and personal.
The functional and presentational currency of the company is £ Sterling.

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 following principal accounting policies have been applied:

 
2.2

Turnover

Turnover represents amounts derived from the provision of services which fall within the company's ordinary activities exclusive of value added tax.
Revenue recognition policy by revenue type is as follows:
- fee income is recognised when performance obligations have been completed.
- fund based/renewal commissions are recognised on the date of receipt.
- other commission income is recognised when earned.
- ongoing advisor charges are recognised at the date of receipt.
- other advisor charges are recognised when the service is provided.

 
2.3

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.

Page 3

 
DELTA FINANCIAL MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

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

Depreciation is provided on the following basis:

S/Term Leasehold Property
-
20%
straight-line basis
Fixtures & fittings
-
25%
reducing balance basis
Computer equipment
-
25%
straight-line basis

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.

 
2.4

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Debtors

Short term debtors are measured at the transaction price, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty.

 
2.7

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.
Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. The Company does not have debt instruments that are payable or receivable in more than one year.
Financial assets that are measured at 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. The impairment loss is measured as the difference between an asset's carrying amount and best estimate, 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.

Page 4

 
DELTA FINANCIAL MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.8

Creditors

Short term creditors are measured at the transaction price.

 
2.9

Dividends

Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. 

 
2.10

Pensions

Defined contribution pension plan
The Company contributes to a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised 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 reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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 except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

  
2.12

Holiday paid accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the Statement of Financial Position date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the Statement of Financial Position date.

Page 5

 
DELTA FINANCIAL MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 14 (2022 - 14).


4.


Tangible fixed assets





S/Term Leasehold Property
Fixtures & fittings
Computer equipment
Total

£
£
£
£



Cost


At 1 April 2022
48,854
136,670
18,498
204,022


Additions
-
-
1,434
1,434



At 31 March 2023

48,854
136,670
19,932
205,456



Depreciation


At 1 April 2022
19,540
79,586
11,034
110,160


Charge for the year on owned assets
4,885
14,823
3,010
22,718



At 31 March 2023

24,425
94,409
14,044
132,878



Net book value



At 31 March 2023
24,429
42,261
5,888
72,578



At 31 March 2022
29,314
57,084
7,464
93,862

Page 6

 
DELTA FINANCIAL MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£


Trade debtors
72,721
45,979

Prepayments and accrued income
53,464
35,649

126,185
81,628



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
38,816
20,162

Taxation and social security
190,969
300,330

Other creditors
422
448

Accruals and deferred income
145,983
209,250

376,190
530,190



7.


Deferred taxation




2023


£






At beginning of year
8,509


Charged to profit or loss
3,529



At end of year
12,038

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
12,038
8,509

Page 7

 
DELTA FINANCIAL MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



50,000 (2022 - 50,000) Ordinary shares of £1.00 each
50,000
50,000



9.


Related party transactions

The company has taken advantage of not disclosing transactions with wholly owned companies within the group as permitted under FRS 102 section 33.1A Related Party Disclosures.


10.


Controlling party

The directors regard Amirod Limited, a company registered in England and Wales, as the ultimate parent undertaking. Amirod Limited is controlled by J M Ellis and M A A Malik who are both directors of the company.

 
Page 8