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REGISTERED NUMBER: 08905714 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2024

FOR

DELTASITE LIMITED

DELTASITE LIMITED (REGISTERED NUMBER: 08905714)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


DELTASITE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2024







DIRECTORS: R Hoffman
B Hoffman





REGISTERED OFFICE: 115 Craven Park Road
London
London
N15 6BL





REGISTERED NUMBER: 08905714 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

DELTASITE LIMITED (REGISTERED NUMBER: 08905714)

STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2024

28.2.24 28.2.23
Notes £    £   
FIXED ASSETS
Tangible assets 5 1,436 1,702
Investment property 6 1,869,505 1,869,505
1,870,941 1,871,207

CURRENT ASSETS
Debtors 7 84,007 3,743
Cash at bank 24,123 26,199
108,130 29,942
CREDITORS
Amounts falling due within one year 8 (709,539 ) (662,822 )
NET CURRENT LIABILITIES (601,409 ) (632,880 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,269,532

1,238,327

CREDITORS
Amounts falling due after more than one
year

9

(1,092,946

)

(948,584

)

PROVISIONS FOR LIABILITIES (59,361 ) (59,361 )
NET ASSETS 117,225 230,382

CAPITAL AND RESERVES
Called up share capital 12 2 2
Fair value reserve 13 349,405 349,405
Retained earnings 13 (232,182 ) (119,025 )
SHAREHOLDERS' FUNDS 117,225 230,382

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 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.

DELTASITE LIMITED (REGISTERED NUMBER: 08905714)

STATEMENT OF FINANCIAL POSITION - continued
28 FEBRUARY 2024


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 18 November 2024 and were signed on its behalf by:





R Hoffman - Director


DELTASITE LIMITED (REGISTERED NUMBER: 08905714)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

1. STATUTORY INFORMATION

Deltasite 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.

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4. EMPLOYEES AND DIRECTORS

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

DELTASITE LIMITED (REGISTERED NUMBER: 08905714)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2023
and 28 February 2024 4,342 485 4,827
DEPRECIATION
At 1 March 2023 2,705 420 3,125
Charge for year 245 21 266
At 28 February 2024 2,950 441 3,391
NET BOOK VALUE
At 28 February 2024 1,392 44 1,436
At 28 February 2023 1,637 65 1,702

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 28 February 2024 1,869,505
NET BOOK VALUE
At 28 February 2024 1,869,505
At 28 February 2023 1,869,505

Fair value at 28 February 2024 is represented by:
£   
Valuation in 2018 408,766
Cost 1,460,739
1,869,505

Investment properties have been valued by independent valuers with appropriate qualification.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Trade debtors 8,174 3,743
Other debtors 75,833 -
84,007 3,743

DELTASITE LIMITED (REGISTERED NUMBER: 08905714)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Bank loans and overdrafts (see note 10) 406,292 406,069
Other creditors 302,047 255,643
Accrued expenses 1,200 1,110
709,539 662,822

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.24 28.2.23
£    £   
Bank loans (see note 10) 1,092,946 948,584

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,060,039 912,507

10. LOANS

An analysis of the maturity of loans is given below:

28.2.24 28.2.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 406,292 406,069

Amounts falling due between two and five years:
Bank loans - 2-5 years 32,907 36,077

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,060,039 912,507

11. SECURED DEBTS

The following secured debts are included within creditors:

28.2.24 28.2.23
£    £   
Bank loans 1,499,238 1,354,653

1. Bank loan is secured by a first charge over company's investment properties and bear interest at variable rates.

2. Under the bank loan, £32,907 was received under Bounce back Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% afterwards and backed by HM Government.

DELTASITE LIMITED (REGISTERED NUMBER: 08905714)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.24 28.2.23
value: £    £   
2 Ordinary £1 2 2

13. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 March 2023 (119,025 ) 349,405 230,380
Deficit for the year (113,157 ) (113,157 )
At 28 February 2024 (232,182 ) 349,405 117,223

14. ULTIMATE CONTROLLING PARTY

The controlling party is R Hoffman.