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REGISTERED NUMBER: 02566002 (England and Wales)















DELTAX LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023






DELTAX LIMITED (REGISTERED NUMBER: 02566002)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


DELTAX LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTOR: Mr M J Zelunka



REGISTERED OFFICE: Fryern House
125 Winchester Road
Chandlers Ford
Hampshire
SO53 2DR



REGISTERED NUMBER: 02566002 (England and Wales)



ACCOUNTANTS: Rothmans CF Limited
Fryern House
125 Winchester Road
Chandlers Ford
Hampshire
SO53 2DR



BANKERS: HSBC Plc
3 Leigh Road
Eastleigh
Hampshire
SO50 9YW

ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
DELTAX LIMITED


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Deltax Limited for the year ended 31 October 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Deltax Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Deltax Limited and state those matters that we have agreed to state to the director of Deltax Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Deltax Limited and its director for our work or for this report.

It is your duty to ensure that Deltax Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Deltax Limited. You consider that Deltax Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Deltax Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Rothmans CF Limited
Fryern House
125 Winchester Road
Chandlers Ford
Hampshire
SO53 2DR


28 October 2024

DELTAX LIMITED (REGISTERED NUMBER: 02566002)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 117,671 115,112

CURRENT ASSETS
Stocks 269,498 278,265
Debtors 5 109,640 192,479
Cash at bank and in hand 30,379 15,306
409,517 486,050
CREDITORS
Amounts falling due within one year 6 368,239 415,586
NET CURRENT ASSETS 41,278 70,464
TOTAL ASSETS LESS CURRENT
LIABILITIES

158,949

185,576

CREDITORS
Amounts falling due after more than one
year

7

25,827

48,811
NET ASSETS 133,122 136,765

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 132,122 135,765
SHAREHOLDERS' FUNDS 133,122 136,765

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 28 October 2024 and were signed by:





Mr M J Zelunka - Director


DELTAX LIMITED (REGISTERED NUMBER: 02566002)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

Deltax Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 02566002 and its registered address is Fryern House, 125 Winchester Road, Chandlers Ford, Hampshire, SO53 2DR.

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 presentation currency is Pound Sterling (£).

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

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the Balance Sheet date, and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

1) Leases
A lease that does not transfer substantially all of the risks and rewards of ownership is classified as an operating lease and is therefore not included in the statement of financial position.

Other key sources of estimation uncertainty;

1) Tangible fixed assets
Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual value assessments consider issues such as market conditions, the remaining life of the asset and projected disposal values.

2) Provisions
Estimates are used by management to determine the value of any dilapidation provisions.

Turnover
Turnover represents machinery and associated spares provided to customers involved in the metal recycling, demolition and construction industries. Revenue is recognised upon despatch of the goods. All turnover is stated net of value added tax.

DELTAX LIMITED (REGISTERED NUMBER: 02566002)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
All tangible fixed assets are initially recognised at cost and subsequently carried at cost less accumulated depreciation and accumulated impairment losses.

The cost of tangible fixed assets initially recognised includes its purchase price and any cost that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in a manner intended by management.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant and machinery15% on reducing balance
Fixtures and fittings33% on reducing balance
Computer equipment33% on reducing balance

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Tangible fixed assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in the Income Statement.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Costs include all direct material and direct labour costs. Net realisable value is based on estimated selling price less additional costs to completion and disposal.

Financial instruments
The company only has financial assets and liabilities of the kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and debt instruments are subsequently measured at amortised 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 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 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the lease term or their useful lives. Obligations under such agreement are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Income Statement as to produce constant periodic rates of charge on the net obligations outstanding in each period.

Rentals payable under operating leases are charged in the Income Statement on a straight line basis over the lease term.

Pension costs
The company operates a defined contribution pension scheme. Contributions are charged in the Income Statement as they become payable in accordance with the rules of the scheme.

DELTAX LIMITED (REGISTERED NUMBER: 02566002)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£ £ £ £
COST
At 1 November 2022 192,171 8,389 3,293 203,853
Additions 23,031 - 707 23,738
At 31 October 2023 215,202 8,389 4,000 227,591
DEPRECIATION
At 1 November 2022 78,298 7,729 2,714 88,741
Charge for year 20,536 218 425 21,179
At 31 October 2023 98,834 7,947 3,139 109,920
NET BOOK VALUE
At 31 October 2023 116,368 442 861 117,671
At 31 October 2022 113,873 660 579 115,112


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 46,294 83,258
Amounts owed by group undertakings - 12,002
Other debtors 13,691 20,774
VAT 18,624 43,939
Deferred tax asset 11,390 11,161
Prepayments and accrued income 19,641 21,345
109,640 192,479

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Hire purchase contracts (see note 8) 22,984 22,162
Trade creditors 239,396 314,208
Amounts owed to group undertakings 62,690 -
Taxation and social security 21,953 15,387
Other creditors 21,216 63,829
368,239 415,586

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Hire purchase contracts (see note 8) 25,827 48,811

DELTAX LIMITED (REGISTERED NUMBER: 02566002)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£ £
Net obligations repayable:
Within one year 22,984 22,162
Between one and five years 25,827 48,811
48,811 70,973

Non-cancellable
operating leases
2023 2022
£ £
Within one year 36,820 36,820
Between one and five years 31,373 68,193
68,193 105,013

9. CONTINGENT LIABILITIES

During a prior year, the directors made an assessment of the potential liability of the company in relation to dilapidations on the current rental property. This is a present obligation however the directors are of the opinion that the amount cannot be estimated reliably therefore no provision has been recognised in these financial statements.

10. RELATED PARTY DISCLOSURES

During the period sales of £699,546 (2022: £651,958) were made to Gensco Equipment (1990) Inc and purchases of £Nil (2022: £18,972) were made from Gensco Equipment (1990) Inc. At the year end the amount outstanding to Gensco Equipment (1990) Inc was £62,690 (2022: Outstanding by Gensco Equipment (1990) Inc £12,002 ).