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Registered number: 14537178









THREE DELANCEY LTD









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
THREE DELANCEY LTD
REGISTERED NUMBER: 14537178

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
  
2,689,953
2,556,734

Debtors: amounts falling due within one year
 5 
39,211
8,177

Cash at bank and in hand
 6 
13,660
60,770

  
2,742,824
2,625,681

Creditors: amounts falling due within one year
 7 
(2,623,562)
(2,578,412)

Net current assets
  
 
 
119,262
 
 
47,269

Total assets less current liabilities
  
119,262
47,269

  

Net assets
  
119,262
47,269


Capital and reserves
  

Called up share capital 
 8 
1
1

Profit and loss account
  
119,261
47,268

  
119,262
47,269

Page 1

 
THREE DELANCEY LTD
REGISTERED NUMBER: 14537178
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf: 




B Aaron
Director

Date: 30 January 2025

The notes on pages 3 to 6 form part of these financial statements.
Page 2

 
THREE DELANCEY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Three Delancy Limited is a private company limited by shares and incorporated in England and Wales (reg no: 14537178). The registered office is 101 New Cavendish Street,1st Floor South, London, United Kingdom W1W 6XH.
The principal activity of the company is that of property development.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The financial statements are presented in Sterling, which is the functional currency of the company.
Monetary amounts in these financial statements are rounded to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

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.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
THREE DELANCEY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.


 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase of the property as per completion statement. Work in progress and finished goods include labour and attributable overheads.

At each reporting 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 or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 4

 
THREE DELANCEY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Stocks

2024
2023
£
£

Finished goods and goods for resale
2,689,953
2,556,734

2,689,953
2,556,734



5.


Debtors

2024
2023
£
£


Trade debtors
36,915
8,177

Prepayments and accrued income
2,296
-

39,211
8,177



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
13,660
60,770

13,660
60,770



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
2,524,403
2,561,617

Corporation tax
23,998
11,882

Other taxation and social security
17,641
4,913

Other creditors
17,750
-

Accruals and deferred income
39,770
-

2,623,562
2,578,412


Page 5

 
THREE DELANCEY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.00
1
1



9.


Controlling party

The company is controlled by David Aaron Limited, a company registered in England and Wales whose
registered office is 25a Berkeley Square, London, W1J 6HN.


10.


Auditors' information

The auditors' report on the financial statements for the year ended 30 April 2024 was unqualified.

The audit report was signed on 30 January 2025 by Nicholas Newman (Senior Statutory Auditor) on behalf of Harris & Trotter LLP.

Page 6