2022-10-012023-09-302023-09-30false05887482DELSICONA 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DELSICONA LIMITED

Registered Number
05887482
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2023

DELSICONA LIMITED
Company Information
for the year from 1 October 2022 to 30 September 2023

Directors

Mr C G Daniels
Mrs E J Daniels

Registered Address

12 Tentercroft Street
Lincoln
Lincolnshire
LN5 7DB

Place of Business

Waddington House, Maltkiln Lane

Waddington

Lincoln

Lincolnshire

LN5 9RT


Registered Number

05887482 (England and Wales)
DELSICONA LIMITED
Balance Sheet as at
30 September 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets312155
Investments522
Investment property45,081,6074,990,000
5,081,6214,990,157
Current assets
Debtors484,288493,084
Current asset investments65,395,3955,516,942
5,879,6836,010,026
Creditors amounts falling due within one year7(5,512,419)(6,402,607)
Net current assets (liabilities)367,264(392,581)
Total assets less current liabilities5,448,8854,597,576
Provisions for liabilities8(324,762)(148,075)
Net assets5,124,1234,449,501
Capital and reserves
Called up share capital22
Profit and loss account5,124,1214,449,499
Shareholders' funds5,124,1234,449,501
The financial statements were approved and authorised for issue by the Board of Directors on 24 April 2024, and are signed on its behalf by:
Mr C G Daniels
Director
Registered Company No. 05887482
DELSICONA LIMITED
Notes to the Financial Statements
for the year ended 30 September 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). Group accounts not prepared The company is exempt from preparing group accounts.
Revenue from sale of goods
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows: Asset Class Depreciation method and rate Land and buildings Land - not depreciated, Buildings - 1% on cost. Buildings are not depreciated past residual value Fixtures, fitting and equipment 10% straight line method and 33% straight line method
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis. Business combinations Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20232022
Average number of employees during the year22
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 October 225,6645,664
At 30 September 235,6645,664
Depreciation and impairment
At 01 October 225,5095,509
Charge for year143143
At 30 September 235,6525,652
Net book value
At 30 September 231212
At 30 September 22155155
4.Investment property
The company's investment properties have not been valued by an independent valuer this year. Had this class of asset been measured on a historical cost basis, the carrying amount would have been £3,708,070 (2022 £3,536,463)

£
Fair value at 01 October 224,990,000
Additions171,607
Fair value adjustments(80,000)
At 30 September 235,081,607
5.Fixed asset investments
Investment in subsidiaries.

Other investments1

Total

££
Cost or valuation
At 01 October 2222
At 30 September 2322
Net book value
At 30 September 2322
At 30 September 2222

Notes

1Other investments other than loans
6.Current asset investments
Cost or Valuation £ At 1 October 2022 5,516,942 Fair value adjustment 602,066 Additions 87,397 Disposals (811,010) At 30 September 2023 5,395,395 Included within the carrying amounts are two fund accounts with a balance of £70,701 (2022 £2,721) and £60,798 (2022 £89,053).
7.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables250,000250,000
Bank borrowings and overdrafts5,232,8316,093,860
Taxation and social security23,18851,972
Accrued liabilities and deferred income6,4006,775
Total5,512,4196,402,607
8.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)324,762148,075
Total324,762148,075
9.Related party transactions
Summary of transactions with all subsidiaries Subsidiary companies During the year the company made purchases of £Nil (2022 £Nil) from subsidiary companies. At the year end a balance of £146,366 (2022 £490,436) was owed to Delsicona Limited by subsidiary companies.