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REGISTERED NUMBER: 12422595 (England and Wales)















Financial Statements

for the Year Ended 31st January 2024

for

DELGA LABELS LIMITED

DELGA LABELS LIMITED (REGISTERED NUMBER: 12422595)

Contents of the Financial Statements
for the year ended 31st January 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DELGA LABELS LIMITED

Company Information
for the year ended 31st January 2024







DIRECTORS: Mr I M Conetta
Mr S H Grist
Mr S McLellan



REGISTERED OFFICE: Seaplane House Medway City Estate
Sir Thomas Longley Road
Rochester
Kent
ME2 4DP



REGISTERED NUMBER: 12422595 (England and Wales)



SENIOR STATUTORY AUDITOR: Russell Tillbrook FCCA



AUDITORS: Barrons Limited
Chartered Accountants
& Statutory Auditors
Monometer House
Rectory Grove
Leigh on Sea
Essex
SS9 2HN

DELGA LABELS LIMITED (REGISTERED NUMBER: 12422595)

Balance Sheet
31st January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 43,754 62,181

CURRENT ASSETS
Stocks 49,338 52,247
Debtors 5 275,368 161,292
Cash at bank 27,751 163,321
352,457 376,860
CREDITORS
Amounts falling due within one year 6 1,497,711 1,328,049
NET CURRENT LIABILITIES (1,145,254 ) (951,189 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,101,500

)

(889,008

)

CREDITORS
Amounts falling due after more than one
year

7

(22,629

)

(34,408

)

PROVISIONS FOR LIABILITIES (8,453 ) -
NET LIABILITIES (1,132,582 ) (923,416 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (1,132,583 ) (923,417 )
(1,132,582 ) (923,416 )

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 Profit and Loss Account has not been delivered.

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





Mr I M Conetta - Director


DELGA LABELS LIMITED (REGISTERED NUMBER: 12422595)

Notes to the Financial Statements
for the year ended 31st January 2024


1. STATUTORY INFORMATION

Delga Labels Limited 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.

Turnover
The turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before the revenue is recognised:

Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Plant and machinery etc. - straight line over 3, 5 & 7 years

The asset's residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

DELGA LABELS LIMITED (REGISTERED NUMBER: 12422595)

Notes to the Financial Statements - continued
for the year ended 31st January 2024


2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If Stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contacts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit and loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

DELGA LABELS LIMITED (REGISTERED NUMBER: 12422595)

Notes to the Financial Statements - continued
for the year ended 31st January 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using effective interest method, less any impairment.

Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amount of cash with insignificant risk of change in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

DELGA LABELS LIMITED (REGISTERED NUMBER: 12422595)

Notes to the Financial Statements - continued
for the year ended 31st January 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st February 2023
and 31st January 2024 124,660
DEPRECIATION
At 1st February 2023 62,479
Charge for year 18,427
At 31st January 2024 80,906
NET BOOK VALUE
At 31st January 2024 43,754
At 31st January 2023 62,181

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 141,258 40,421
Amounts owed by group undertakings 109,427 63,093
Other debtors 24,683 57,778
275,368 161,292

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 11,807 11,797
Trade creditors 31,812 5,635
Amounts owed to group undertakings 1,383,944 1,267,381
Taxation and social security 27,491 10,113
Other creditors 42,657 33,123
1,497,711 1,328,049

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 22,629 34,408

DELGA LABELS LIMITED (REGISTERED NUMBER: 12422595)

Notes to the Financial Statements - continued
for the year ended 31st January 2024


8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 34,436 46,205

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

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The auditors' report on the financial statements for the year ended 31 January 2024 was unqualified.

The audit report was signed on 29 October 2024 by Russell Tillbrook FCCA (Senior Statutory Auditor) on behalf of Barrons Limited.

10. RELATED PARTY DISCLOSURES

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.

11. ULTIMATE PARENT COMPANY

The Meliora Group Limited is the ultimate parent company for the current year due to its shareholding in the company. The Meliora Group Limited prepares consolidated financial statements and these may be obtained from their registered office at Seaplane House, Sir Thomas Longley Road, Medway City Estate, Rochester, Kent, ME2 4DP.