IRIS Accounts Production v24.3.2.46 03989637 Board of Directors 1.1.24 31.12.24 31.12.24 25.3.25 false true false false false true false Auditors Opinion Ordinary shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh039896372023-12-31039896372024-12-31039896372024-01-012024-12-31039896372022-12-31039896372023-01-012023-12-31039896372023-12-3103989637ns15:EnglandWales2024-01-012024-12-3103989637ns14:PoundSterling2024-01-012024-12-3103989637ns10:Director12024-01-012024-12-3103989637ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3103989637ns10:SmallEntities2024-01-012024-12-3103989637ns10:Audited2024-01-012024-12-3103989637ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3103989637ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3103989637ns10:FullAccounts2024-01-012024-12-310398963712024-01-012024-12-3103989637ns10:OrdinaryShareClass12024-01-012024-12-3103989637ns10:Director22024-01-012024-12-3103989637ns10:Director42024-01-012024-12-3103989637ns10:Director52024-01-012024-12-3103989637ns10:CompanySecretary12024-01-012024-12-3103989637ns10:RegisteredOffice2024-01-012024-12-3103989637ns5:CurrentFinancialInstruments2024-12-3103989637ns5:CurrentFinancialInstruments2023-12-3103989637ns5:ShareCapital2024-12-3103989637ns5:ShareCapital2023-12-3103989637ns5:RetainedEarningsAccumulatedLosses2024-12-3103989637ns5:RetainedEarningsAccumulatedLosses2023-12-3103989637ns5:IntangibleAssetsOtherThanGoodwill2024-01-012024-12-3103989637ns5:FurnitureFittings2024-01-012024-12-3103989637ns5:NetGoodwill2024-01-012024-12-3103989637ns5:NetGoodwill2024-12-3103989637ns5:FurnitureFittings2023-12-3103989637ns5:FurnitureFittings2024-12-3103989637ns5:FurnitureFittings2023-12-3103989637ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3103989637ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3103989637ns5:WithinOneYear2024-12-3103989637ns5:WithinOneYear2023-12-3103989637ns5:BetweenOneFiveYears2024-12-3103989637ns5:BetweenOneFiveYears2023-12-3103989637ns5:AllPeriods2024-12-3103989637ns5:AllPeriods2023-12-3103989637ns5:DeferredTaxation2023-12-3103989637ns5:OtherProvisionsContingentLiabilities2023-12-3103989637ns5:DeferredTaxation2024-01-012024-12-3103989637ns5:OtherProvisionsContingentLiabilities2024-01-012024-12-3103989637ns5:DeferredTaxation2024-12-3103989637ns5:OtherProvisionsContingentLiabilities2024-12-3103989637ns10:OrdinaryShareClass12024-12-3103989637ns5:RetainedEarningsAccumulatedLosses2023-12-3103989637ns5:RetainedEarningsAccumulatedLosses2024-01-012024-12-31
REGISTERED NUMBER: 03989637 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

DELTA NEU LIMITED

DELTA NEU LIMITED (REGISTERED NUMBER: 03989637)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DELTA NEU LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: P Dowell
M J Duffy
J C Rose
P C Mullen





SECRETARY: M J Duffy





REGISTERED OFFICE: 9 Station View
Hazel Grove
Stockport
Cheshire
SK7 5ER





REGISTERED NUMBER: 03989637 (England and Wales)





AUDITORS: CMB Partnership Limited
Chartered Accountants and Statutory Auditor
7 Wey Court
Mary Road
Guildford
Surrey
GU1 4QU

DELTA NEU LIMITED (REGISTERED NUMBER: 03989637)

BALANCE SHEET
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 58,500 -
Tangible assets 5 19,018 36,545
77,518 36,545

CURRENT ASSETS
Stocks 6 360,570 505,281
Debtors 7 1,515,359 1,511,778
Cash at bank 2,353,315 2,439,031
4,229,244 4,456,090
CREDITORS
Amounts falling due within one year 8 2,569,214 2,548,594
NET CURRENT ASSETS 1,660,030 1,907,496
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,737,548

1,944,041

PROVISIONS FOR LIABILITIES 10 94,650 156,765
NET ASSETS 1,642,898 1,787,276

CAPITAL AND RESERVES
Called up share capital 11 200,000 200,000
Retained earnings 12 1,442,898 1,587,276
SHAREHOLDERS' FUNDS 1,642,898 1,787,276

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2025 and were signed on its behalf by:





P Dowell - Director


DELTA NEU LIMITED (REGISTERED NUMBER: 03989637)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Delta Neu Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Contracts are assessed on a contract by contract basis and are reflected in the profit and loss account by recording turnover and related costs when a contract is fully invoiced.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - at varying rates on cost

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in profit or loss, and included in administrative expenses.

Stocks and work in progress
Stocks and work in progress are measured at the lower of cost and selling price less cost to complete and sell. Cost is calculated on a first in, first out basis and includes all costs of purchase, costs of conversion and other costs incurred in bringing the inventories to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


DELTA NEU LIMITED (REGISTERED NUMBER: 03989637)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated.

Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Monetary assets and liabilities in foreign currencies are translated into sterling at the rate of exchange ruling as at the balance sheet date. Exchange differences are taken into account in arriving at the operating result.

Deferred income
Deferred income comprises amounts invoiced on incomplete contracts.

Employee benefits
Short-term employee benefits are recognised as an expense in the period in which they are incurred.

Amounts in respect of defined contributions plans are recognised as an expense as they are incurred.

Interest income
Interest income is recognised using the effective interest method.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.

Debt instruments that are payable or receivable within one year, typically trade debtors or creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

DELTA NEU LIMITED (REGISTERED NUMBER: 03989637)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like fixtures and fittings are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Stocks are also assessed for impairment at each reporting date. The carrying amount of each item of stock is compared with its selling price less costs to complete and sell. If an item of stock is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 22 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 73,000
At 31 December 2024 73,000
AMORTISATION
Amortisation for year 14,500
At 31 December 2024 14,500
NET BOOK VALUE
At 31 December 2024 58,500

DELTA NEU LIMITED (REGISTERED NUMBER: 03989637)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2024 162,444
Additions 9,728
Disposals (42,664 )
At 31 December 2024 129,508
DEPRECIATION
At 1 January 2024 125,899
Charge for year 27,255
Eliminated on disposal (42,664 )
At 31 December 2024 110,490
NET BOOK VALUE
At 31 December 2024 19,018
At 31 December 2023 36,545

6. STOCKS
31.12.24 31.12.23
£    £   
Raw materials 73,657 75,043
Work-in-progress 286,913 430,238
360,570 505,281

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 1,438,856 1,395,317
Other debtors 3,300 4,600
Group debtors - 52,265
Prepayments 73,203 59,596
1,515,359 1,511,778

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 369,088 608,773
Amounts owed to group undertakings 166,991 168,701
Tax 94,141 231,932
Social security and other taxes 53,629 53,187
VAT 151,835 38,727
Other creditors 252,019 145,015
Deferred income 1,293,791 1,110,435
Accrued expenses 187,720 191,824
2,569,214 2,548,594

DELTA NEU LIMITED (REGISTERED NUMBER: 03989637)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.24 31.12.23
£    £   
Within one year 115,978 107,920
Between one and five years 206,539 139,238
322,517 247,158

10. PROVISIONS FOR LIABILITIES
31.12.24 31.12.23
£    £   
Deferred tax 4,450 8,765
Other provisions 90,200 148,000
94,650 156,765

Deferred Other
tax provisions
£    £   
Balance at 1 January 2024 8,765 148,000
Credit to Income Statement during year (4,315 ) (57,800 )
Balance at 31 December 2024 4,450 90,200

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
200,000 Ordinary shares £1 200,000 200,000

12. RESERVES
Retained
earnings
£   

At 1 January 2024 1,587,276
Profit for the year 415,622
Dividends (560,000 )
At 31 December 2024 1,442,898

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Martin (Senior Statutory Auditor)
for and on behalf of CMB Partnership Limited

14. CONTINGENT LIABILITIES

At the year end there were contingent liabilities in respect of bank guarantees totalling £nil (2023: £nil).

DELTA NEU LIMITED (REGISTERED NUMBER: 03989637)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

15. RELATED PARTY DISCLOSURES

SFPI is the ultimate parent undertaking and during the year the company traded with various group companies.

At 31 December 2024 the company owed to group undertakings £166,971 (2023: £168,701) and was owed by group undertakings £Nil (2023: £52,265).

16. PENSION COSTS

Defined Contribution Schemes

The company established the Delta Neu Limited Death in Service Benefit Scheme with effect from 1 July 2003 a pension scheme based on contributions payable into the scheme.

In addition the company also operates a pension scheme with NEST.

The pension charge for the period was £137,824 (2023: £133,077).

17. JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

No significant judgements have had to be made by management in preparing these financial statements.

The directors have made key assumptions regarding the stage of completion, future costs to complete and collectability of some contracts.