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REGISTERED NUMBER: 00387824 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

DELTRONIC LIMITED

DELTRONIC LIMITED (REGISTERED NUMBER: 00387824)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


DELTRONIC LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: R A Perei
W R Perei





SECRETARY: W R Perei





REGISTERED OFFICE: Unit G1a, Ferneberga House
Alexandra Road
Farnborough
Surrey
GU14 6DQ





REGISTERED NUMBER: 00387824 (England and Wales)





ACCOUNTANTS: RJP LLP
Ground Floor
Egerton House
68 Baker Street
Weybridge
Surrey
KT13 8AL

DELTRONIC LIMITED (REGISTERED NUMBER: 00387824)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Investments 4 15,615,432 14,839,596
Investment property 5 1,606,173 1,606,173
17,221,605 16,445,769

CURRENT ASSETS
Debtors 6 2,577 2,577
Cash at bank 4,365,219 3,237,868
4,367,796 3,240,445
CREDITORS
Amounts falling due within one year 7 50,468 92,580
NET CURRENT ASSETS 4,317,328 3,147,865
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,538,933

19,593,634

PROVISIONS FOR LIABILITIES 585,341 356,455
NET ASSETS 20,953,592 19,237,179

CAPITAL AND RESERVES
Called up share capital 8 757,500 757,500
Capital redemption reserve 445,950 445,950
Retained earnings 19,750,142 18,033,729
SHAREHOLDERS' FUNDS 20,953,592 19,237,179

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

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.

DELTRONIC LIMITED (REGISTERED NUMBER: 00387824)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 February 2024 and were signed on its behalf by:





W R Perei - Director


DELTRONIC LIMITED (REGISTERED NUMBER: 00387824)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

Deltronic Limited 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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about Deltronic 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.

Critical accounting judgements and key sources of estimation uncertainty
In preparing the financial statements, management is required to make judgements, estimates and assumptions that affect the amount presented in the financial statements and related disclosures. Management is required to exercise its judgement in selecting and applying the entity's accounting policies. Management makes use of estimates and associated assumptions, which are based on historical experience and other factors that are considered to be relevant. Actual results in the future would differ from these estimates, which may be material to the financial statements.

The following key assumptions concerning the future, and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are:

Investment property

Management have estimated the fair value of investment property held at year end through enlisting the services of local estate agents knowledgeable on local market data who are best placed to provide a reliable estimate of property prices at year end.

Turnover
Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rendering of services

Revenue from the rendering of services is recognised when all of the following conditions are met:
- the amount of revenue can be measured reliably;
- it is probable that the economic benefits will flow to the seller;
- it is probable that the company will receive the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Investments
Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in listed company shares are remeasured to market value at each Statement of Financial Position date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Investment property is carried at fair value determined annually be external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in the Statement of Comprehensive Income.


DELTRONIC LIMITED (REGISTERED NUMBER: 00387824)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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.

Foreign currencies
Functional and presentational 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 transaction.

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 the Statement of Income and Retained Earnings except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of Income and Retained Earnings within 'other operating income'.

3. EMPLOYEES AND DIRECTORS

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

DELTRONIC LIMITED (REGISTERED NUMBER: 00387824)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


4. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 July 2022 16,648 14,822,948 14,839,596
Additions - 322,376 322,376
Disposals - (300,000 ) (300,000 )
Revaluations - 753,460 753,460
At 30 June 2023 16,648 15,598,784 15,615,432
NET BOOK VALUE
At 30 June 2023 16,648 15,598,784 15,615,432
At 30 June 2022 16,648 14,822,948 14,839,596


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 1,606,173
NET BOOK VALUE
At 30 June 2023 1,606,173
At 30 June 2022 1,606,173

The valuations were made by the directors, on an open market value for existing use basis.

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2023 (107,161 )
Cost 1,713,334
1,606,173

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 2,577 2,577

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Amounts owed to group undertakings 23,450 10,000
Taxation and social security 13,412 69,026
Other creditors 13,606 13,554
50,468 92,580

DELTRONIC LIMITED (REGISTERED NUMBER: 00387824)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
757,500 Ordinary £1.00 757,500 757,500

9. RELATED PARTY DISCLOSURES

During the year the company charged net management fees of £140,000 (2022 - £140,000) to its subsidiary undertaking.

At the year-end the company owed £23,450 (2022 - £10,000) to its subsidiary undertaking.