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Registration number: 03893263

Delta Real Estate Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 December 2023

 

Delta Real Estate Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

Delta Real Estate Ltd

Company Information

Directors

Mr Andrew J Gillott

Dr Mark C Gillott

Registered office

194 Wollaton Vale
Nottingham
Notts
NG8 2GQ

Accountants

Mr John Graham Eardley
Chartered Accountant
Eardley & Co ltd
Borrowash
Derby
Derbyshire
DE72 3JZ

 

Delta Real Estate Ltd

(Registration number: 03893263)
Abridged Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

349,480

350,167

Current assets

 

Debtors

5

5,000

10,000

Cash at bank and in hand

 

3,777

8,052

 

8,777

18,052

Creditors: Amounts falling due within one year

(163,241)

(155,209)

Net current liabilities

 

(154,464)

(137,157)

Total assets less current liabilities

 

195,016

213,010

Creditors: Amounts falling due after more than one year

(270,119)

(270,119)

Net liabilities

 

(75,103)

(57,109)

Capital and reserves

 

Called up share capital

6

6

6

Retained earnings

(75,109)

(57,115)

Shareholders' deficit

 

(75,103)

(57,109)

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 August 2024 and signed on its behalf by:
 

 

Delta Real Estate Ltd

(Registration number: 03893263)
Abridged Balance Sheet as at 31 December 2023

.........................................
Mr Andrew J Gillott
Director

 

Delta Real Estate Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
194 Wollaton Vale
Nottingham
Notts
NG8 2GQ

These financial statements were authorised for issue by the Board on 28 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Delta Real Estate Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

15% reducing balance

Fixtures and fittings

15% reducing balance

Investment property

Under Micro entity reporting rules, the company does not revalue investment properties.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Delta Real Estate Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 1).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

346,271

40,569

386,840

At 31 December 2023

346,271

40,569

386,840

Depreciation

At 1 January 2023

-

36,673

36,673

Charge for the year

-

687

687

At 31 December 2023

-

37,360

37,360

Carrying amount

At 31 December 2023

346,271

3,209

349,480

At 31 December 2022

346,271

3,896

350,167

Included within the net book value of land and buildings above is £2,700 (2022 - £2,700) in respect of freehold land and buildings and £343,571 (2022 - £343,571) in respect of long leasehold land and buildings.
 

5

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

6

Share capital

Allotted, called up and fully paid shares

 

Delta Real Estate Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

2023

2022

No.

£

No.

£

ordinary of £1 each

6

6

6

6

       

7

Related party transactions

 

Delta Real Estate Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

9,033

9,009

Summary of transactions with entities with joint control or significant interest

Delta Developments
 Loan
 

Loans to related parties

2023

Entities with joint control or significant influence
£

Total
£

At start of period

10,000

10,000

Repaid

(5,000)

(5,000)

At end of period

5,000

5,000

2022

Entities with joint control or significant influence
£

Total
£

At start of period

20,000

20,000

Repaid

(10,000)

(10,000)

At end of period

10,000

10,000