Company registration number 4788278 (England and Wales)
DELTA TOOLING (HORSHAM) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
PAGES FOR FILING WITH REGISTRAR
DELTA TOOLING (HORSHAM) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
DELTA TOOLING (HORSHAM) LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2023
30 September 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
336,379
220,603
Current assets
Stocks
5
20,092
36,400
Debtors
6
94,506
283,230
Cash at bank and in hand
297,680
226,751
412,278
546,381
Creditors: amounts falling due within one year
7
(161,650)
(202,300)
Net current assets
250,628
344,081
Total assets less current liabilities
587,007
564,684
Creditors: amounts falling due after more than one year
8
(170,017)
(127,091)
Provisions for liabilities
Deferred tax liability
9
77,725
35,916
(77,725)
(35,916)
Net assets
339,265
401,677
Capital and reserves
Called up share capital
10
100
100
Share premium account
1,485
1,485
Profit and loss reserves
337,680
400,092
Total equity
339,265
401,677
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 30 September 2023 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 members have 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.
DELTA TOOLING (HORSHAM) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2023
30 September 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on
13 March 20242024-03-13
G P Childs
Director
Company registration number 4788278 (England and Wales)
DELTA TOOLING (HORSHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 3 -
1
Accounting policies
Company information
Delta Tooling (Horsham) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 45 Sea Road, East Preston, West Sussex BN16 1JN and the place of business is Units 3 and 4, Prime Buildings, Daux Road, Billingshurst, West Sussex RH14 9SJ.
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.
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
Atruet 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 future. 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 and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Leasehold
Over the term of the lease
Plant and machinery
10% on a straight line basis
Fixtures, fittings & equipment
20% on a straight line basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
DELTA TOOLING (HORSHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.7
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:-
2023
2022
Number
Number
Employees
7
8
3
Director's remuneration
2023
2022
£
£
Remuneration for qualifying services
15,000
14,200
Company pension contributions to defined contribution schemes
37,900
3,000
Healthcare costs
3,979
4,992
56,879
22,192
4
Tangible fixed assets
Land and buildings Leasehold
Plant and machinery
Fixtures, fittings & equipment
Total
£
£
£
£
Cost
At 1 October 2022
9,542
1,041,307
21,337
1,072,186
Additions
165,597
165,597
At 30 September 2023
9,542
1,206,904
21,337
1,237,783
Depreciation and impairment
At 1 October 2022
6,546
823,700
21,337
851,583
Depreciation charged in the year
952
48,869
49,821
At 30 September 2023
7,498
872,569
21,337
901,404
Carrying amount
At 30 September 2023
2,044
334,335
336,379
At 30 September 2022
2,996
217,607
220,603
DELTA TOOLING (HORSHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 5 -
5
Stocks
2023
2022
£
£
Raw materials and consumables
20,092
36,400
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
47,143
232,461
Corporation tax recoverable
29,213
Other debtors
33,119
Prepayments and accrued income
18,150
17,650
94,506
283,230
7
Creditors: amounts falling due within one year
2023
2022
Notes
£
£
Obligations under finance leases
73,995
48,709
Trade creditors
49,764
74,843
Corporation tax
29,213
Other taxation and social security
28,509
37,086
Other creditors
4,632
7,699
Accruals and deferred income
4,750
4,750
161,650
202,300
8
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans and overdrafts
35,349
45,025
Obligations under finance leases
134,668
82,066
170,017
127,091
DELTA TOOLING (HORSHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 6 -
9
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
Assets
Assets
2023
2022
2023
2022
Balances:
£
£
£
£
Accelerated capital allowances
77,725
35,916
-
-
The deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.
10
Share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
100
100
100
100
11
Directors' transactions
Dividends totalling £30,000 (2022 - £60,000) were paid in the year.
Dividends of £15,000 (2022 - £30,000) were paid in respect of shares held by the company's director.