2 3 PEI Delta Group Limited 07031809 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is to act as a holding company for its subsidiaries PEI Delta Limited, PEI Omega Limited and PEI Delta Group (Corporate Trustee) Limited Digita Accounts Production Advanced 6.30.9574.0 false true true true true 07031809 2023-05-01 2024-04-30 07031809 2024-04-30 07031809 bus:OrdinaryShareClass1 2024-04-30 07031809 bus:OrdinaryShareClass2 2024-04-30 07031809 core:CurrentFinancialInstruments 2024-04-30 07031809 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 07031809 core:AllSubsidiaries 2024-04-30 07031809 bus:SmallEntities 2023-05-01 2024-04-30 07031809 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 07031809 bus:FilletedAccounts 2023-05-01 2024-04-30 07031809 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 07031809 bus:RegisteredOffice 2023-05-01 2024-04-30 07031809 bus:CompanySecretaryDirector1 2023-05-01 2024-04-30 07031809 bus:Director1 2023-05-01 2024-04-30 07031809 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 07031809 bus:OrdinaryShareClass2 2023-05-01 2024-04-30 07031809 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 07031809 bus:Agent1 2023-05-01 2024-04-30 07031809 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-05-01 2024-04-30 07031809 core:OtherRelatedParties 2023-05-01 2024-04-30 07031809 core:Subsidiary1 2023-05-01 2024-04-30 07031809 core:Subsidiary2 2023-05-01 2024-04-30 07031809 core:Subsidiary1 2023-05-01 2024-04-30 07031809 core:Subsidiary1 1 2023-05-01 2024-04-30 07031809 core:Subsidiary1 countries:EnglandWales 2023-05-01 2024-04-30 07031809 core:Subsidiary2 2023-05-01 2024-04-30 07031809 core:Subsidiary2 1 2023-05-01 2024-04-30 07031809 core:Subsidiary2 countries:EnglandWales 2023-05-01 2024-04-30 07031809 core:Subsidiary3 2023-05-01 2024-04-30 07031809 core:Subsidiary3 1 2023-05-01 2024-04-30 07031809 core:Subsidiary3 countries:EnglandWales 2023-05-01 2024-04-30 07031809 countries:EnglandWales 2023-05-01 2024-04-30 07031809 core:CostValuation 2023-04-30 07031809 2022-05-01 2023-04-30 07031809 2023-04-30 07031809 bus:OrdinaryShareClass1 2023-04-30 07031809 bus:OrdinaryShareClass2 2023-04-30 07031809 core:CurrentFinancialInstruments 2023-04-30 07031809 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 07031809 core:AllSubsidiaries 2023-04-30 07031809 core:Subsidiary1 1 2022-05-01 2023-04-30 07031809 core:Subsidiary2 1 2022-05-01 2023-04-30 07031809 core:Subsidiary3 1 2022-05-01 2023-04-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 07031809

PEI Delta Group Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

PEI Delta Group Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

PEI Delta Group Limited

Company Information

Directors

Mr R Gallagher

Mrs C Gallagher

Company secretary

Mrs C Gallagher

Registered office

Furness Drive
Poulton Business Park
Poulton-le-Fylde
Lancashire
FY6 8JS

Accountants

Horne Brooke Shenton
Chartered Accountants15 Olympic Court Boardmans Way,
Whitehills Business Park
Blackpool
FY4 5GU

 

PEI Delta Group Limited

(Registration number: 07031809)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed Assets

 

Investments

5

3,109,838

3,109,838

Current assets

 

Debtors

6

525,043

43

Cash at bank and in hand

 

692,678

133,944

 

1,217,721

133,987

Creditors: Amounts falling due within one year

7

(1,297,083)

(235,380)

Net current liabilities

 

(79,362)

(101,393)

Net assets

 

3,030,476

3,008,445

Capital and Reserves

 

Called up share capital

8

10,000

10,000

Share premium reserve

1,613,340

1,613,340

Capital redemption reserve

544

544

Other reserves

24

24

Retained Earnings

1,406,568

1,384,537

Shareholders' funds

 

3,030,476

3,008,445

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 January 2025 and signed on its behalf by:
 

Mr R Gallagher

Director

 

PEI Delta Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Furness Drive
Poulton Business Park
Poulton-le-Fylde
Lancashire
FY6 8JS

These financial statements were authorised for issue by the Board on 24 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A small entities - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency is £ sterling.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Going concern

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

PEI Delta Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the Group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the Group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in subsidiaries are stated at cost less provision for any impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

PEI Delta Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Financial instruments


Recognition and measurement
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial insruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
 

 

PEI Delta Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 3).

Share options granted to employees of PEI Delta Limited, a wholly owned subsidiary, are as follows:

Further options granted over B shares (including amounts granted to directors)

Date EMI options granted

23/3/2015

Total number of options granted

453

Option payment on grant

£1 per option

Market value on grant of option

£39.97 per share

Option period

10 years from grant

Options exercised in year

None

Options exercised as at 30/4/2024

None

Options surrendered / lapsed in year

None

Options surrendered / lapsed as at 30/04/2024

152

Options granted over A shares (including amounts granted to directors)

Date EMI options granted

5/7/2019

Total number of options granted

6,085

Option payment on grant

£20,000 / £10,000 per option

Market value on grant of option

£75.17 per share

Option period

10 years from grant

Options exercised in year

None

Options exercised as at 30/4/2024

None

Options surrendered in year

None

Options surrendered as at 30/04/2024

1,826

These remaining Share Options may only be exercised in the event of a takeover of the company within a period of 10 years from the grant of the Option.

Following the company's year end date new EMI options were granted by the company.

A Ordinary share EMI options for 608 A shares were granted 28th June 2024. The option period is 10 years from grant of the option.

B Ordinary share EMI options for 356 B shares were granted 28th June 2024 and exercised 1st July 2024.

 

PEI Delta Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Income from shares in group undertakings

(250,000)

(233,144)

5

Investments

2024
£

2023
£

Investments in subsidiaries

3,109,838

3,109,838

Subsidiaries

£

Cost or valuation

At 1 May 2023

3,109,838

Provision

Carrying amount

At 30 April 2024

3,109,838

At 30 April 2023

3,109,838

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

PEI Delta Limited

England and Wales

Ordinary

100%

100%

PEI Omega Limited (Dormant)

England and Wales

Ordinary

100%

100%

PEI Delta Group (Corporate Trustee) Ltd (Dormant)

England and Wales

Ordinary

100%

100%

The principal activity of PEI Delta Limited is Electrical Contractors.

 

PEI Delta Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

10

525,000

-

Prepayments

 

43

43

   

525,043

43

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

1,289,661

235,301

Taxation and social security

 

7,343

-

Other creditors

 

79

79

 

1,297,083

235,380

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A £1 shares of £1 each

10,000

10,000

10,000

10,000

Ordinary B £1 Shares of £1 each

-

-

-

-

10,000

10,000

10,000

10,000

In the comparative year, on 23rd March 2023 the company actioned a company buy back of shares in respect of the 544 Ordinary B shares.

9

Dividends

 

2024

2023

 

£

£

Interim dividend paid

250,000

233,144

The directors are not proposing a final dividend for the year.

 

PEI Delta Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

10

Related party transactions

Summary of transactions with all entities with joint control or significant interest

Old Bankfield Limited During the year the company provided a loan advance to Old Bankfield Limited for £525,000. At the balance sheet date the loan balance was £525,000 (2023 - Nil). No interest was charged on this loan which is repayable on demand and classified in other debtors due within one year.

Summary of transactions with subsidiaries

PEI Delta Limited During the year dividends of £250,000 were received from PEI Delta Limited (2023: £233,144).

At the balance sheet date the amount due (to)/from PEI Delta Limited was (£1,189,561) (2023 - £135,201).

PEI Delta Group (Corporate Trustee) Limited During the year ended 30th April 2020 PEI Delta Group Limited acquired 100% of the share capital of a dormant company, PEI Delta Group (Corporate Trustee) Limited.

At the balance sheet date the amount due (to)/from PEI Delta Group (Corporate Trustee) Limited was (£100) (2023 - £100).

Summary of transactions with other related parties

PEI Delta Group Limited Employee Benefit Trust At the balance sheet date the amount due (to)/from PEI Delta Group Limited Employee Benefit Trust was (£100,000) (2023 - £100,000).

Income and receivables from related parties

2024

Subsidiary
£

Amounts receivable from related party

250,000

2023

Subsidiary
£

Amounts receivable from related party

233,144