IRIS Accounts Production v24.1.9.2 08454027 Board of Directors 1.6.22 31.5.23 31.5.23 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh084540272022-05-31084540272023-05-31084540272022-06-012023-05-31084540272021-05-31084540272021-06-012022-05-31084540272022-05-3108454027ns15:EnglandWales2022-06-012023-05-3108454027ns14:PoundSterling2022-06-012023-05-3108454027ns10:Director12022-06-012023-05-3108454027ns10:PrivateLimitedCompanyLtd2022-06-012023-05-3108454027ns10:SmallEntities2022-06-012023-05-3108454027ns10:AuditExempt-NoAccountantsReport2022-06-012023-05-3108454027ns10:SmallCompaniesRegimeForDirectorsReport2022-06-012023-05-3108454027ns10:SmallCompaniesRegimeForAccounts2022-06-012023-05-3108454027ns10:AbridgedAccounts2022-06-012023-05-3108454027ns10:Director22022-06-012023-05-3108454027ns10:RegisteredOffice2022-06-012023-05-3108454027ns5:CurrentFinancialInstruments2023-05-3108454027ns5:CurrentFinancialInstruments2022-05-3108454027ns5:Non-currentFinancialInstruments2023-05-3108454027ns5:Non-currentFinancialInstruments2022-05-3108454027ns5:ShareCapital2023-05-3108454027ns5:ShareCapital2022-05-3108454027ns5:RetainedEarningsAccumulatedLosses2023-05-3108454027ns5:RetainedEarningsAccumulatedLosses2022-05-3108454027ns5:MotorVehicles2022-06-012023-05-3108454027ns5:ComputerEquipment2022-06-012023-05-31
REGISTERED NUMBER: 08454027 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

DELFT LTD

DELFT LTD (REGISTERED NUMBER: 08454027)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 May 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


DELFT LTD

COMPANY INFORMATION
for the year ended 31 May 2023







DIRECTORS: Mr J V T Rajah
Mr J Rajah





REGISTERED OFFICE: Unit 8 Waterloo Court
10 Theed Street
London
SE1 8ST





REGISTERED NUMBER: 08454027 (England and Wales)





ACCOUNTANTS: Raffingers LLP
Chartered Certified Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

DELFT LTD (REGISTERED NUMBER: 08454027)

ABRIDGED BALANCE SHEET
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 61,454 82,460
Investments 5 7 7
61,461 82,467

CURRENT ASSETS
Debtors 7,948,301 4,313,384
Cash at bank 221,182 380,222
8,169,483 4,693,606
CREDITORS
Amounts falling due within one year 7,302,267 4,377,366
NET CURRENT ASSETS 867,216 316,240
TOTAL ASSETS LESS CURRENT
LIABILITIES

928,677

398,707

CREDITORS
Amounts falling due after more than one year (106,649 ) (124,861 )

PROVISIONS FOR LIABILITIES (15,364 ) (15,667 )
NET ASSETS 806,664 258,179

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 806,663 258,178
SHAREHOLDERS' FUNDS 806,664 258,179

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

DELFT LTD (REGISTERED NUMBER: 08454027)

ABRIDGED BALANCE SHEET - continued
31 May 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 May 2024 and were signed on its behalf by:





Mr J V T Rajah - Director


DELFT LTD (REGISTERED NUMBER: 08454027)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 May 2023

1. STATUTORY INFORMATION

Delft Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The directors continue to adopt the going concern basis in preparing the financial statements which assumes that the company will continue in operation for the foreseeable future. The directors are of the opinion that the company will be able to meet any liabilities as and when due with the continued support of the directors.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

DELFT LTD (REGISTERED NUMBER: 08454027)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost. The investments are subsequently re-measured and adjusted for current market values at each balance sheet date. Where market value cannot be reliably determined, such investments are stated at historic cost less any accumulated impairment losses.

The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Entities in which the company has a long term interest and shares control under a contractual arrangement with another party, are classified as jointly controlled entities.

3. EMPLOYEES AND DIRECTORS

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

DELFT LTD (REGISTERED NUMBER: 08454027)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2022
and 31 May 2023 150,978
DEPRECIATION
At 1 June 2022 68,518
Charge for year 21,006
At 31 May 2023 89,524
NET BOOK VALUE
At 31 May 2023 61,454
At 31 May 2022 82,460

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 June 2022
and 31 May 2023 145,667
DEPRECIATION
At 1 June 2022 63,729
Charge for year 20,484
At 31 May 2023 84,213
NET BOOK VALUE
At 31 May 2023 61,454
At 31 May 2022 81,938

DELFT LTD (REGISTERED NUMBER: 08454027)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2023

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 June 2022
and 31 May 2023 7
NET BOOK VALUE
At 31 May 2023 7
At 31 May 2022 7

6. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 88,194 104,739

The hire purchase contracts are secured over the assets to which they relate.

7. RELATED PARTY DISCLOSURES

At the balance sheet date, the company was owed £1,968,523 (2022: £958,819) by Mr J V T Rajah, a director. At the previous balance sheet date, the company owed £222,676 to Mr J Rajah, a director.

At the balance sheet date, the company owed £1,717,140 (2022: was owed £1,103,251) to/(by) Justin Homes (PW Land) Ltd, a company jointly controlled by the majority shareholder of Delft Ltd. The company also owed £2,213,954 (2022: £1,432,527) to Justin Homes Britain Ltd, a company connected by a close family member.

At the balance sheet date, the company was owed £11,378 (2022: £79,263) by Joseph Homes Ltd and £9,420 (2022: £1,770) by Justin Homes Britain (Russell Hill) Ltd, companies in which the directors have either majority or joint control. Also at the balance sheet date, the company was owed £1,054,521 (2022: £15,834) by Justin Homes (Purley Way) Ltd and £750 (2022: £nil) by Justin Homes (Russell Hill Road) Ltd, companies jointly controlled by the directors.

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.