Registered number
04364192
Delphi Accounting Ltd
Unaudited Filleted Accounts
31 March 2024
Delphi Accounting Ltd
Registered number: 04364192
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 25,234 39,001
Tangible assets 4 8,374 13,376
33,608 52,377
Current assets
Work in Progress 78,429 55,804
Debtors 5 124,062 101,549
Cash at bank and in hand 15,671 31,215
218,162 188,568
Creditors: amounts falling due within one year 6 (115,624) (116,019)
Net current assets 102,538 72,549
Total assets less current liabilities 136,146 124,926
Provisions for liabilities (2,093) (2,541)
Net assets 134,053 122,385
Capital and reserves
Called up share capital 10 10
Profit and loss account 134,043 122,375
Shareholders' funds 134,053 122,385
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr S Williams
Director
Approved by the board on 10 October 2024
Delphi Accounting Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures & Fitings 20% straight line
Computer Equipment 33% straight line
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Going concern
The directors have given consideration to the continuing operations of the Company and this has given rise to no material uncertainties regarding going concern. As a result the accounts have been prepared under the going concern basis of accounting.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 7
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 137,665
At 31 March 2024 137,665
Amortisation
At 1 April 2023 98,664
Provided during the year 13,767
At 31 March 2024 112,431
Net book value
At 31 March 2024 25,234
At 31 March 2023 39,001
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 46,500
Additions 1,336
At 31 March 2024 47,836
Depreciation
At 1 April 2023 33,124
Charge for the year 6,338
At 31 March 2024 39,462
Net book value
At 31 March 2024 8,374
At 31 March 2023 13,376
5 Debtors 2024 2023
£ £
Trade debtors 123,160 97,193
Other debtors 902 4,356
124,062 101,549
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 3,095 1,464
Taxation and social security costs 84,501 75,591
Other creditors 28,028 38,964
115,624 116,019
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr S Williams
Director's loan account 10,605 (51,208) 17,683 (22,920)
10,605 (51,208) 17,683 (22,920)
The balance £22,920 (2023: £10,605) is included in other creditors. The loans are unsecured, interest free and repayble on demand.
8 Other information
Delphi Accounting Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Frome Business Park
Manor Road, Marston Trading Estate
Frome
BA11 4FN
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