Registered number
04140356
Deligo Limited
Report and Financial Statements
31 March 2024
Deligo Limited
Company Information
Director
J Elliott
N Siviter (resigned 19 December 2023)
Secretary
N Siviter (resigned 19 December 2023)
Auditors
Sinclair & Co. (Accountants) Limited
Second Floor, West Wing
10 Harborne Road
Edgbaston
Birmingham
B15 3AA
Bankers
Barclays Bank UK PLC
Leicester
LE87 2BB
Solicitors
George Green LLP
195 High Street
Cradley Heath
West Midlands
B64 5HW
Registered office
Unit 8, Grazebrook Industrial Estate
Dudley
West Midlands
DY2 0BE
Registered number
04140356
Deligo Limited
Registered number: 04140356
Director's Report
The director presents his report and financial statements for the year ended 31 March 2024.
Principal activities
The company's principal activity during the year continued to be the supply of industrial fasteners.
Directors
The following persons served as directors during the year:
J Elliott
N Siviter (resigned 19 December 2023)
Director's responsibilities
The director is responsible for preparing the report and financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102 and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:
select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Disclosure of information to auditors
The director confirms that:
so far as he is aware, there is no relevant audit information of which the company's auditor is unaware; and
he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information.
Acquisition of own shares
As part of a group reorganisation, the 80 Ordinary £1 shares were split into 40 A Ordinary £1 shares, 19 B Ordinary £1 shares and 21 C Ordinary £1 shares. The 21 C Ordinary £1 shares were then acquired by the company.. The details of the shares purchased are as follows:
Class of share C Ordinary shares
Amount paid £21
Nominal value of shares £1
Number of shares 21
Percentage of class purchased 100.0%
This report was approved by the board on 20 November 2024 and signed on its behalf.
J Elliott
Director
Deligo Limited
Strategic Report
The director presents his strategic report for the company for the year ended 31 March 2024.
Review of the business
As stated in the Director's Report, the company operates as a distributor to the electrical wholesale industry. Sourcing its products both locally and globally, the company operates a distribution operation from its Midlands hub supplying the UK and Ireland. The company supplies products used in electrical installation for both domestic and commercial settings, such as hospitals, schools, and other major projects.

On 19 December 2023, the company was acquired by Deligo Holdings Limited. At the same time, the company disposed of its ownership of Fastpak Hardware Limited. This allowed the company to focus entirely on its own market.
Results and performance
The results of the company for the year, as set out in the Profit and Loss account, show a profit on ordinary activities before tax of £657,797 (2023 - £836,341). The shareholder's funds in the company total £2,592,451 (2023 - £2,786,490).

Turnover in the year fell slightly, by 2.6%, with gross profit on goods improving by 4.5% as shipping costs maintained prior year levels for the first half of the year. Overheads remain well-controlled.

Overall, the company has experienced a robust financial year, with increased margins. This positive performance is a testament to the company's strategic initiatives, operational efficiency, and the dedication of its team. The increase in margins is mainly down to the first half of the year as the final two quarters were more affected by a steep rise in shipping costs from the Far East. It is also important to note that the final six months of the year were impacted by the costs of moving to a new warehouse.
Business environment
The construction Industry has certainly seen a slowdown from the end of 2023. Demand for the company's products continues to be strong with some new products focusing on the renewable markets, starting to contribute to sales. However, the industry is still becoming more competitive, with new entrants and existing competitors continuing to intensify their efforts. Despite this increased competition, the company has managed to maintain its market share, demonstrating the strength of its value proposition and the effectiveness of its competitive strategies.
Strategy
The company's strategic initiatives have played a crucial role in its positive performance. Although the new warehouse had a detrimental effect on the profit and loss in the short term, the long-term savings and improved service the company can offer will start to be very beneficial in the years to come. The company continues to focus on improving operational efficiency, enhancing its product and service offerings, and strengthening its customer relationships.
Principal risks and uncertainties
The process of risk management is addressed through internal procedures and controls. All policies are subject to approval by the director and ongoing review by management. Compliance with regulation, legal and ethical standards is a high priority for the company. The director is responsible for satisfying himself that a proper internal control framework exists to manage financial risks and that controls operate effectively.

The principal risks affecting the company are considered to relate to the market and economic environment, health and safety performance, currency fluctuations, interest rates and general shipping costs.
Future developments
Although the growth in the UK is expected to be slow, the director feels the electrical sector will remain strong and the construction sector will improve slowly. With new and advanced operating systems being implemented , along with investment in people, and a new distribution centre, the company can now ensure profitability and maintain growth at the levels seen historically.

Overall, in the coming year the company aims to grow turnover, whilst improving gross profit margins. At the same time it aims to be able to cut overhead costs and still increase productivity.
This report was approved by the board on 20 November 2024 and signed on its behalf.
J Elliott
Director
Deligo Limited
Independent auditor's report
to the member of Deligo Limited
Opinion
We have audited the financial statements of Deligo Limited (the 'company') for the year ended 31 March 2024 which comprise the Income Statement, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the strategic report and the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the directors’ responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations was as follows:
the senior statutory auditor ensured that the engagement team had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector;
we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including financial reporting legislation, Companies Act 2006, taxation legislation, anti-bribery, employment, and environmental and health and safety legislation;
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
all identified laws and regulations were communicated within the audit team and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
making enquiries of management as to where they considered there was susceptibility to fraud, and their knowledge of actual, suspected or alleged fraud;
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
performed analytical procedures to identify any unusual or unexpected relationships;
tested journal entries to identify unusual transactions;
assessed whether judgements and assumptions made in determining accounting estimates were indicative of potential bias; and
investigated the rationale behind any significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
agreeing accounts disclosures to underlying supporting documentation;
enquiring of management as to actual and potential litigation and claims; and
reviewing correspondence with HMRC, relevant regulators and the company's legal advisers.
A further description of our responsibilities for the audit of the financial statements is available on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
F D Robinson
(Senior Statutory Auditor) Second Floor, West Wing
for and on behalf of 10 Harborne Road
Sinclair & Co. (Accountants) Limited Edgbaston
Statutory Auditor Birmingham
20 November 2024 B15 3AA
Deligo Limited
Income Statement
for the year ended 31 March 2024
Notes 2024 2023
£ £
Turnover 3 12,711,709 13,052,858
Cost of sales (8,549,446) (9,363,056)
Gross profit 4,162,263 3,689,802
Administrative expenses (3,334,297) (2,806,648)
Other operating income 8,000 43,500
Operating profit 4 835,966 926,654
Profit on sale of fixed assets 7,640 -
Income from investments 18,171 50,000
Interest receivable 666 2,119
Interest payable 7 (204,646) (142,432)
Profit on ordinary activities before taxation 657,797 836,341
Tax on profit on ordinary activities 8 (175,825) (150,632)
Profit for the financial year 481,972 685,709
Deligo Limited
Statement of Financial Position
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 9 618,064 122,316
Investments 10 82,500 82,600
700,564 204,916
Current assets
Stocks 11 2,847,902 3,190,803
Debtors 12 3,732,172 4,093,802
Cash at bank and in hand 166,857 129,686
6,746,931 7,414,291
Creditors: amounts falling due within one year 13 (4,447,525) (4,394,770)
Net current assets 2,299,406 3,019,521
Total assets less current liabilities 2,999,970 3,224,437
Creditors: amounts falling due after more than one year 14 (325,819) (414,647)
Provisions for liabilities
Deferred taxation 17 (81,700) (23,300)
Net assets 2,592,451 2,786,490
Capital and reserves
Called up share capital 18 59 80
Capital redemption reserve 19 21 -
Profit and loss account 20 2,592,371 2,786,410
Total equity 2,592,451 2,786,490
J Elliott
Director
Approved by the board on 20 November 2024 and signed on its behalf
Deligo Limited
Statement of Changes in Equity
for the year ended 31 March 2024
Share Capital Profit Total
capital redemption and loss
Reserve account
£ £ £ £
At 1 April 2022 80 - 2,200,701 2,200,781
Profit for the financial year 685,709 685,709
Dividends (100,000) (100,000)
At 31 March 2023 80 - 2,786,410 2,786,490
At 1 April 2023 80 - 2,786,410 2,786,490
Profit for the financial year 481,972 481,972
Dividends (675,990) (675,990)
Shares redeemed (21) 21 (21) (21)
At 31 March 2024 59 21 2,592,371 2,592,451
Deligo Limited
Statement of Cash Flows
for the year ended 31 March 2024
Notes 2024 2023
£ £
Operating activities
Profit for the financial year 481,972 685,709
Adjustments for:
Profit on sale of fixed assets (7,640) -
Income from investments (18,171) (50,000)
Interest receivable (666) (2,119)
Interest payable 204,646 142,432
Tax on profit on ordinary activities 175,825 150,632
Depreciation 89,137 49,180
Decrease/(increase) in stocks 342,901 (233,655)
Decrease in debtors 361,630 45,607
Increase/(decrease) in creditors 56,104 (440,765)
1,685,738 347,021
Dividends received 18,171 50,000
Interest received 666 2,119
Interest paid (187,785) (139,102)
Interest element of finance lease payments (16,861) (3,330)
Corporation tax paid (156,415) (2,007)
Cash generated by operating activities 1,343,514 254,701
Investing activities
Payments to acquire tangible fixed assets (559,754) (8,330)
Proceeds from sale of tangible fixed assets 65,000 -
Proceeds from sale of investments 100 -
Cash used in investing activities (494,654) (8,330)
Financing activities
Equity dividends paid (675,990) (100,000)
Payments to redeem shares (21) -
Repayment of loans (223,503) (204,456)
Capital element of finance lease payments 87,825 (20,063)
Cash used in financing activities (811,689) (324,519)
Net cash generated/(used)
Cash generated by operating activities 1,343,514 254,701
Cash used in investing activities (494,654) (8,330)
Cash used in financing activities (811,689) (324,519)
Net cash generated/(used) 37,171 (78,148)
Cash and cash equivalents at 1 April 129,686 207,834
Cash and cash equivalents at 31 March 166,857 129,686
Cash and cash equivalents comprise:
Cash at bank 166,857 129,686
Deligo Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Summary of significant accounting policies
Basis of preparation
The financial statements 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.
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.
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:
Improvements to leasehold property Over the term of the lease
Plant and machinery 20% straight line
Motor vehicles 25% straight line
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.

At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Critical accounting estimates and judgements
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the reported amounts of assets, liabilities, income and expense. Actual results may differ from these estimates. Assumptions and estimates are reviewed on an ongoing basis and any revisions to them are recognised in the period in which they are revised.

The following are those that management consider to be critical due to the level of judgement and estimation required:

Provisions
These are, as far as possible, estimated by reference to evidence of activity after the company's year-end. Any provision for bad and doubtful debts is created by reviewing the collectability of those debts, whist other provisions will be estimated in relation to costs charged after the year-end that relate to the year, or in relation to other identifiable losses.

Depreciation
The company makes an estimate as to the useful economic life of all its fixed assets, and depreciates the assets accordingly. There are regular reviews for impairments or other reductions in the carrying value of the assets, and adjustments to the carrying value are made at the time of each review, as necessary.
3 Analysis of turnover 2024 2023
£ £
Sale of goods 12,711,709 13,052,858
By geographical market:
UK 12,278,662 12,655,917
Europe 433,047 396,941
12,711,709 13,052,858
4 Operating profit 2024 2023
£ £
This is stated after charging:
Depreciation of owned fixed assets 42,500 37,627
Depreciation of assets held under finance leases and hire purchase contracts 46,637 11,553
Operating lease rentals - plant and machinery 6,017 3,909
Operating lease rentals - land and buildings 552,078 347,199
Auditors' remuneration for audit services 10,200 9,700
Key management personnel compensation (including directors' emoluments) 36,336 34,744
Carrying amount of stock sold 6,516,020 6,834,951
5 Director's emoluments 2024 2023
£ £
Emoluments 36,336 34,744
Company contributions to defined contribution pension plans 1,090 1,042
37,426 35,786
Number of directors to whom retirement benefits accrued: 2024 2023
Number Number
Defined contribution plans 1 1
6 Staff costs 2024 2023
£ £
Wages and salaries 1,505,166 1,343,176
Social security costs 132,736 127,441
Other pension costs 28,072 26,238
1,665,974 1,496,855
Average number of employees during the year Number Number
Administration 11 11
Distribution 33 32
Sales 9 10
53 53
7 Interest payable 2024 2023
£ £
Bank loans and overdrafts 38,750 39,219
Other loans 149,035 99,883
Finance charges payable under finance leases and hire purchase contracts 16,861 3,330
204,646 142,432
8 Taxation 2024 2023
£ £
Analysis of charge in period
Current tax:
UK corporation tax on profits of the period 117,435 158,700
Adjustments in respect of previous periods (10) (268)
117,425 158,432
Deferred tax:
Origination and reversal of timing differences 58,400 (7,800)
Tax on profit on ordinary activities 175,825 150,632
Factors affecting tax charge for period
The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows:
2024 2023
£ £
Profit on ordinary activities before tax 657,797 836,341
Standard rate of corporation tax in the UK 25% 19%
£ £
(Loss)/profit on ordinary activities multiplied by the standard rate of corporation tax 164,449 158,905
Effects of:
Expenses not deductible for tax purposes (1,660) (7,492)
Capital allowances for period in excess of depreciation (45,354) 7,287
Adjustments to tax charge in respect of previous periods (10) (268)
Current tax charge for period 117,425 158,432
9 Tangible fixed assets
Land and buildings Plant and machinery Motor vehicles Total
At cost At cost At cost
£ £ £ £
Cost or valuation
At 1 April 2023 - 119,247 144,438 263,685
Additions 306,696 243,892 91,657 642,245
Disposals - - (86,041) (86,041)
At 31 March 2024 306,696 363,139 150,054 819,889
Depreciation
At 1 April 2023 - 60,606 80,763 141,369
Charge for the year 15,335 50,302 23,500 89,137
On disposals - - (28,681) (28,681)
At 31 March 2024 15,335 110,908 75,582 201,825
Carrying amount
At 31 March 2024 291,361 252,231 74,472 618,064
At 31 March 2023 - 58,641 63,675 122,316
2024 2023
£ £
Carrying value of plant and machinery included above held under finance leases and hire purchase contracts 271,226 92,019
10 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 April 2023 82,600
Disposals (100)
At 31 March 2024 82,500
2024 2023
£ £
Dividends and other distributions from associates included in income 18,171 50,000
The company holds 20% or more of the share capital of the following companies:
Capital and Profit (loss)
Company Shares held reserves for the year
Class % £ £
Cobra Cable Management Ltd Ordinary 75 83,427 58,863
11 Stocks 2024 2023
£ £
Finished goods and goods for resale 2,847,902 3,190,803
12 Debtors 2024 2023
£ £
Trade debtors 3,288,946 3,255,496
Amounts owed by group undertakings and undertakings in which the company has a participating interest 101,432 659,563
Other debtors 341,794 178,743
3,732,172 4,093,802
13 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans 211,028 239,492
Obligations under finance lease and hire purchase contracts 84,168 20,063
Trade creditors 880,151 800,195
Amounts owed to group undertakings and undertakings in which the company has a participating interest 5,500 -
Corporation tax 117,435 156,425
Other taxes and social security costs 332,539 273,436
Other creditors 2,816,704 2,905,159
4,447,525 4,394,770
Within other creditors, the sum of £1,608,165 (2023 - £1,870,717) is secured by way of a fixed and floating charge over all the assets of the company.
14 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 139,940 334,979
Obligations under finance lease and hire purchase contracts 185,879 79,668
325,819 414,647
15 Loans 2024 2023
£ £
Analysis of maturity of debt:
Within one year or on demand 211,028 259,555
Between one and two years 122,482 233,896
Between two and five years 17,458 180,751
350,968 674,202
Within loans, bank loans totalling £nil (2023 - £21,540) are secured by way of a fixed and floating charge over all the assets of the company.
16 Obligations under finance leases and hire purchase 2024 2023
contracts £ £
Amounts payable:
Within one year 84,168 20,063
Within two to five years 185,879 79,668
270,047 99,731
Net obligations under finance leases and hire purchase contracts are secured on the assets concerned.
17 Deferred taxation 2024 2023
£ £
Accelerated capital allowances 81,700 23,300
2024 2023
£ £
At 1 April 23,300 31,100
Charged/(credited) to the profit and loss account 58,400 (7,800)
At 31 March 81,700 23,300
18 Share capital Nominal 2024 2024 2023
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each - 80
A Ordinary shares £1 each 40 40 -
B Ordinary shares £1 each 19 19 -
59 80
19 Capital redemption reserve 2024 2023
£ £
Shares redeemed 21 -
At 31 March 21 -
20 Profit and loss account 2024 2023
£ £
At 1 April 2,786,410 2,200,701
Profit for the financial year 481,972 685,709
Dividends (675,990) (100,000)
Transfer to capital redemption reserve (21) -
At 31 March 2,592,371 2,786,410
21 Dividends 2024 2023
£ £
Dividends on ordinary shares (note 20) 675,990 100,000
22 Other financial commitments
Total future minimum lease payments under non-cancellable operating leases:
Land and buildings Land and buildings Other Other
2024 2023 2024 2023
£ £ £ £
Falling due:
within one year - 202,950 - -
in over five years 5,736,510 - - -
5,736,510 202,950 - -
23 Related party transactions
The company declared dividends in favour of its new holding company, Deligo Holdings Limited, in the sum of £627,890. At the year-end, the company owed Deligo Holdings Limited £5,500.

During the year, the company traded with Cobra Cable Management Limited, which is a wholly-owned subsidiary. It purchased goods and services to the value of £nil (2023 - £nil), and sold goods and services in the sum of £401,710 (2023 - £317,002). The company received a dividend of £18,172 (2023 - £nil) from Cobra Cable Management Limited. At the year-end, the company was owed £101,432 (2023 - £74,728) by Cobra Cable Management Limited.

The company paid Mr J Elliott, its director, a salary of £36,336 (2023 - £34,744), and declared a dividend in his favour of £48,000 (2023 - £50,000). At the year-end, the company owed Mr J Elliott £38,100 (2023 - £35,100).

The company loaned Invell Limited, a company owned by Mr J Elliott, £60,500 during the year. This loan carries interest at 5% per annum. At the year-end, Invell Limited owed the company £60,500.
24 Controlling party
As from 19 December 2023, the company's holding company is Deligo Holdings Limited. The company is incorporated in England and Wales, and its principal place of business is at Unit 8, Grazebrook Industrial Estate, Dudley, West Midlands, DY2 0BE.
25 Presentation currency
The financial statements are presented in Sterling.
26 Legal form of entity and country of incorporation
Deligo Limited is a private company limited by shares and incorporated in England.
27 Principal place of business
The address of the company's principal place of business and registered office is:
Unit 8, Grazebrook Industrial Estate
Dudley
West Midlands
DY2 0BE
28 Reconciliations on adoption of FRS 102
Profit and loss for the year ended 31 March 2023 £
Profit under former UK GAAP 685,709
Profit under FRS 102 685,709
Balance sheet at 31 March 2023 £
Equity under former UK GAAP 2,786,490
Equity under FRS 102 2,786,490
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