Registration number:
PEI Delta Group Limited
for the Year Ended 30 April 2024
PEI Delta Group Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
PEI Delta Group Limited
Company Information
Directors |
Mr R Gallagher Mrs C Gallagher |
Company secretary |
Mrs C Gallagher |
Registered office |
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Accountants |
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PEI Delta Group Limited
(Registration number: 07031809)
Balance Sheet as at 30 April 2024
Note |
2024 |
2023 |
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Fixed Assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net assets |
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Capital and Reserves |
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Called up share capital |
10,000 |
10,000 |
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Share premium reserve |
1,613,340 |
1,613,340 |
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Capital redemption reserve |
544 |
544 |
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Other reserves |
24 |
24 |
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Retained Earnings |
1,406,568 |
1,384,537 |
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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:
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
Mr R Gallagher
Director
PEI Delta Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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
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
PEI Delta Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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) |
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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) |
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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
Profit before tax |
Arrived at after charging/(crediting)
2024 |
2023 |
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Income from shares in group undertakings |
(250,000) |
(233,144) |
Investments |
2024 |
2023 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 May 2023 |
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Provision |
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Carrying amount |
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At 30 April 2024 |
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At 30 April 2023 |
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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 |
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2024 |
2023 |
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Subsidiary undertakings |
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England and Wales |
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England and Wales |
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England and Wales |
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The principal activity of PEI Delta Limited is |
PEI Delta Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Debtors |
Current |
Note |
2024 |
2023 |
Amounts owed by related parties |
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- |
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Prepayments |
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Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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- |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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10,000 |
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10,000 |
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- |
- |
- |
- |
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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.
Dividends |
2024 |
2023 |
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£ |
£ |
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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
Related party transactions |
Summary of transactions with all entities with joint control or significant interest
Summary of transactions with subsidiaries
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Summary of transactions with other related parties
Income and receivables from related parties
2024 |
Subsidiary |
Amounts receivable from related party |
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2023 |
Subsidiary |
Amounts receivable from related party |
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