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The Delight Makers Ltd
Unaudited Financial Statements
For the Period 1 December 2022 to 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07107226
30 April 2024 30 November 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 14,620 15,503
Investments 5 90 90
14,710 15,593
CURRENT ASSETS
Stocks 6 3,625 3,625
Debtors 7 45,598 40,916
Cash at bank and in hand 91 1,285
49,314 45,826
Creditors: Amounts Falling Due Within One Year 8 (176,123 ) (162,342 )
NET CURRENT ASSETS (LIABILITIES) (126,809 ) (116,516 )
TOTAL ASSETS LESS CURRENT LIABILITIES (112,099 ) (100,923 )
Creditors: Amounts Falling Due After More Than One Year 9 (6,300 ) (7,467 )
NET LIABILITIES (118,399 ) (108,390 )
CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Profit and Loss Account (119,399 ) (109,390 )
SHAREHOLDERS' FUNDS (118,399) (108,390)
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For the period 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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
S Koshare-Edouardes
Director
23 April 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
The Delight Makers Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07107226 . The registered office is C/O BWBCA Limited Office 44, A30 Business Centre, Okehampton, Devon, EX20 1BG.
The presentation currency of the financial statements is the Pound Sterling (£).
The period has been extended to cover 17 months, therefore the comparatives are not directly comparable.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and 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.
2.2. Going Concern Disclosure
Jewellery sales are expected to continue in future periods due to the ongoing market for The Beatles memorabilia. It is the intention of the company to expand its sale methods to include both a 'lottery' and sponsorship system in order to obtain pieces of jewellery in future periods. This is expected to help earn more revenue per item of jewellery. The director has also confirmed that she will continue to support the company to enable it to meet its liabilities as and when they fall due. For these reasons, and because the director is the company's largest creditor, the accounts have been prepared on a going concern basis.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable. The subscriptions are valid for 12 months and relate to newsletters, access to competitions and offers. Subscription income is currently being recognised in the period in which it is received.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Artwork For Exhibitions - Not depreciated
Heritage Asset - Not depreciated
Computer Equipment - Straight line over 3 years
2.5. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
2.6. Related Party Exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
2.7. Investments in Subsidiaries
Investments in subsidiary undertakings are recognised at cost.
3. Average Number of Employees
Average number of employees during the period was: NIL (2022: NIL)
- -
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4. Tangible Assets
Heritage Asset Artwork For Exhibitions Computer Equipment Total
£ £ £ £
Cost
As at 1 December 2022 9,500 4,363 6,118 19,981
As at 30 April 2024 9,500 4,363 6,118 19,981
Depreciation
As at 1 December 2022 - - 4,478 4,478
Provided during the period - - 883 883
As at 30 April 2024 - - 5,361 5,361
Net Book Value
As at 30 April 2024 9,500 4,363 757 14,620
As at 1 December 2022 9,500 4,363 1,640 15,503
The heritage asset represents a painted panel from John Lennon's Rolls Royce; this was a sample panel submitted to John Lennon for approval. The panel is deemed to be a heritage asset and included in the accounts at cost. The director has carried out an impairment review at the balance sheet date and considers that there has been no physical deterioration or breakage, and there is no doubt over its authenticity.
The artwork held for exhibitions has not been depreciated as it is considered to have an unlimited useful life; particularly as the artist created artwork for The Beatles during the 60s which has maintained popularity. The director has carried out an impairment review at the balance sheet date and confirms that the artwork is still in good condition and that there is no other reason why the value may have been impaired.
5. Investments
Subsidiaries
£
Cost
As at 1 December 2022 90
As at 30 April 2024 90
Provision
As at 1 December 2022 -
As at 30 April 2024 -
Net Book Value
As at 30 April 2024 90
As at 1 December 2022 90
6. Stocks
30 April 2024 30 November 2022
£ £
Stock 3,625 3,625
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7. Debtors
30 April 2024 30 November 2022
£ £
Due within one year
Other debtors 45,598 40,916
8. Creditors: Amounts Falling Due Within One Year
30 April 2024 30 November 2022
£ £
Trade creditors 11,620 11,499
Bank loans and overdrafts 933 2,800
Other creditors 163,570 148,043
176,123 162,342
9. Creditors: Amounts Falling Due After More Than One Year
30 April 2024 30 November 2022
£ £
Bank loans 6,300 7,467
10. Share Capital
30 April 2024 30 November 2022
Allotted, called up and fully paid £ £
1,000 Ordinary Shares of £ 1.00 each 1,000 1,000
11. Related Party Transactions
Included within other creditors is £151,114 (2022: £131,608) owed to the director. This amount is interest free and repayable upon demand, although the director has confirmed that she will not withdraw her financial support to the detriment of the company or its other creditors.
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