Company registration number 09325250 (England and Wales)
DELTA 365 LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
DELTA 365 LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
DELTA 365 LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
6,165
6,233
Investments
4
51
51
6,216
6,284
Current assets
Stocks
43,537
35,767
Debtors
5
308,031
214,384
Cash at bank and in hand
35,906
38,851
387,474
289,002
Creditors: amounts falling due within one year
6
(297,314)
(249,871)
Net current assets
90,160
39,131
Total assets less current liabilities
96,376
45,415
Creditors: amounts falling due after more than one year
7
(55,000)
(87,600)
Provisions for liabilities
(1,541)
(1,558)
Net assets/(liabilities)
39,835
(43,743)
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
39,635
(43,943)
Total equity
39,835
(43,743)
DELTA 365 LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
- 2 -
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 12 March 2025 and are signed on its behalf by:
Mr S J O'Neill
Mr J W Deag
Director
Director
Company registration number 09325250 (England and Wales)
DELTA 365 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information
Delta 365 Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2-4 Packhorse Road, Gerrards Cross, Buckinghamshire, SL9 7QE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Investments in subsidiary undertakings are recognised at cost.
1.4
Stocks
Stocks for resale are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Goods provided to customers as part of a telephone contract are included at net cost after any customer contributions, this cost is then written off over the period of contract.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
DELTA 365 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.7
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.8
Commissions receivable in respect of line rentals, call and data charges are recognised in the period when the obligations have been delivered to the customer.
Revenue on the sale of goods is recognised on delivery to the customer.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
9
9
DELTA 365 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
3
Tangible fixed assets
Computers
£
Cost
At 1 January 2024
10,920
Additions
2,891
At 31 December 2024
13,811
Depreciation and impairment
At 1 January 2024
4,687
Depreciation charged in the year
2,959
At 31 December 2024
7,646
Carrying amount
At 31 December 2024
6,165
At 31 December 2023
6,233
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
51
51
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
47,773
34,953
Other debtors
260,258
175,026
308,031
209,979
Deferred tax asset
4,405
308,031
214,384
DELTA 365 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
43,794
37,288
Trade creditors
35,354
64,234
Amounts owed to group undertakings
11,208
Taxation and social security
78,364
50,606
Other creditors
139,802
86,535
297,314
249,871
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
55,000
87,600
8
Secured liabilities
On 10 January 2019, the company entered into a fixed and floating charge with a negative pledge clause over its assets with Lloyds Bank Plc.
9
Directors' transactions
Advances or credits have been granted by the company to its directors as follows:
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Closing balance
£
£
£
£
Advances and credits
2.25
39,251
33,545
1,244
74,040
Advances and credits
2.25
21,864
29,147
744
51,755
61,115
62,692
1,988
125,795