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REGISTERED NUMBER: 09881100 (England and Wales)















Delph Properties Manchester 1 Ltd

Financial Statements

for the Year Ended 31 December 2023






Delph Properties Manchester 1 Ltd (Registered number: 09881100)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Delph Properties Manchester 1 Ltd

Company Information
for the year ended 31 December 2023







Directors: P J Crocker
H H Crocker





Registered office: 6th Floor
9 Appold Street
London
EC2A 2AP





Registered number: 09881100 (England and Wales)

Delph Properties Manchester 1 Ltd (Registered number: 09881100)

Balance Sheet
31 December 2023

2023 2022
Notes £ £ £ £
Fixed assets
Investments 4 100 100

Current assets
Debtors 5 1,334 9,095,550
Cash at bank 145,687 302,409
147,021 9,397,959
Creditors
Amounts falling due within one year 6 117,008 7,602,643
Net current assets 30,013 1,795,316
Total assets less current liabilities 30,113 1,795,416

Capital and reserves
Called up share capital 100 100
Retained earnings 30,013 1,795,316
30,113 1,795,416

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

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

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 September 2024 and were signed on its behalf by:




H H Crocker - Director


Delph Properties Manchester 1 Ltd (Registered number: 09881100)

Notes to the Financial Statements
for the year ended 31 December 2023


1. Statutory information

Delph Properties Manchester 1 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.

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 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 pound.

Related party exemption
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.

Turnover
Turnover represents amounts receivable for services provided in the year and is stated net of VAT.

Turnover comprises revenue recognised by the company in respect of the management recharges recieved.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
Financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument. The company holds basic financial instruments which comprise cash at bank, trade and other receivables, equity investments and trade and other payables. The company has chosen to apply the provisions of Section 11 Basic Financial Instruments in full.

Financial assets - classified as basic financial instruments

(i) Cash at bank and in hand
Cash at bank and in hand include cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less.

(ii) Trade and other receivables
Trade and other receivables are initially recognised at the transaction price, including any transaction
costs. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment. At the end of each reporting period, the company assesses whether there is objective evidence that an receivable amount may be impaired. A provision for impairment 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. The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in the Income Statement.

Delph Properties Manchester 1 Ltd (Registered number: 09881100)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. Accounting policies - continued

(iii) Equity investments
Equity investments comprise ordinary shares in subsidiaries and associates. Equity investments are initially recognised at cost, which is the transaction price excluding transaction costs and reviewed annually for impairment. Any impairment is recognised in the Income Statement.

Financial Liabilities - classified as basic financial instruments

(i) Trade and other payables and loans and borrowings
Trade and other payables and loans and borrowings are initially measured at the transaction price, including any transaction costs, and subsequently measured at amortised cost using the effective interest method. Amounts that are payable within one year are measured at the undiscounted amount of the cash expected to be paid.

Going concern
In the opinion of the Directors, based on the Company's budgets and financial projections, they have satisfied themselves that the business is a going concern. The Directors have reasonable expectations that the Company has adequate resources to continue for a period of at least 12 months from authorisation of the financial statements and therefore consider that the going concern basis of accounting is applicable.

3. Employees and directors

The average number of employees during the year was 2 (2022 - 2 ) .

4. Fixed asset investments
Shares in
group
undertakings
£
Cost
At 1 January 2023
and 31 December 2023 100
Net book value
At 31 December 2023 100
At 31 December 2022 100

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Delph Properties Manchester 2 Limited
Registered office: 6th Floor 9 Appold Street, London, EC2A 2AP
Nature of business: Intermediate holding company
%
Class of shares: holding
Ordinary shares 100.00

Delph Properties Manchester 1 Ltd (Registered number: 09881100)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


4. Fixed asset investments - continued

Green Quarter 7 Development Limited
Registered office: 6th Floor 9 Appold Street, London, EC2A 2AP
Nature of business: Property Trading
%
Class of shares: holding
Ordinary shares 100.00

5. Debtors: amounts falling due within one year
2023 2022
£ £
Amounts owed by group undertakings 1,038 1,038
Other debtors - 8,973
Called up share capital not paid 100 100
Prepayments and accrued income 196 9,085,439
1,334 9,095,550

6. Creditors: amounts falling due within one year
2023 2022
£ £
Amounts owed to group undertakings 62,395 7,564,221
VAT 22,953 12,487
Other creditors 28,760 14,973
Accruals and deferred income 2,900 10,962
117,008 7,602,643

7. Related party disclosures

As at the year end the company has a number of balances outstanding with related parties. These have been summarised below, with positive balances indicating debtors and negative balances indicating creditors.

Company Relation 2023 2022
Delph Properties Developments Limited Company under common control (94,141 ) (101,404 )
Pearl Finance Limited * Company under common control (4,552 ) -
Delph Management Company Limited Company under common control (1,498 ) (1,045 )

All loans marked with an asterisk are secured against the properties, with the capital element of the loan bearing interest at 2.5% above the Bank of England base rate, and are repayable at the date of disposal of the properties.

All other loans are unsecured, interest free and repayable on demand.

8. Ultimate controlling party

The immediate and ultimate parent company is Wigmore Investments (UK) Limited, a company incorporated and registered in England and Wales, whose registered address is 6th Floor 9 Appold Street, London, United Kingdom, EC2A 2AP.

The ultimate controlling party is H Crocker by virtue of his shareholding in the ultimate parent company.