| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 MAY 2024 TO 31 MARCH 2025 |
| FOR |
| DELTA ENERGY MANAGEMENT SERVICES LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 MAY 2024 TO 31 MARCH 2025 |
| FOR |
| DELTA ENERGY MANAGEMENT SERVICES LIMITED |
| DELTA ENERGY MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 10681181) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 MAY 2024 TO 31 MARCH 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Report of the Accountants | 7 |
| DELTA ENERGY MANAGEMENT SERVICES LIMITED |
| COMPANY INFORMATION |
| FOR THE PERIOD 1 MAY 2024 TO 31 MARCH 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 30 Garners Road |
| Chalfont St Peter |
| Buckinghamshire |
| SL9 0EZ |
| DELTA ENERGY MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 10681181) |
| BALANCE SHEET |
| 31 MARCH 2025 |
| 2025 | 2024 |
| Notes | $ | $ | $ |
| FIXED ASSETS |
| Investments | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| DELTA ENERGY MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 10681181) |
| BALANCE SHEET - continued |
| 31 MARCH 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| DELTA ENERGY MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 10681181) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 MAY 2024 TO 31 MARCH 2025 |
| 1. | STATUTORY INFORMATION |
| Delta Energy Management Services Limited is a |
| The presentation currency of the financial statements is the US Dollar ($). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Taxation |
| Taxation for the period 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. |
| 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 period 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. |
| Going concern |
| The directors, having made due and careful enquiry, are of the opinion that the company has adequate working capital to execute its operations over the next 12 months. The company has limited outflows and its principal obligations relate to loan notes which are expected to be restructured and/or repaid post award of certain oil and gas licences in Italy. The directors, therefore, have made an informed judgement, at the time of approving the financial statements, that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. |
| As a result, the directors have continued to adopt the going concern basis of accounting in preparing the annual financial statements. |
| DELTA ENERGY MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 10681181) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 MAY 2024 TO 31 MARCH 2025 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was NIL (2024 - NIL). |
| 4. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| $ |
| COST |
| At 1 May 2024 |
| and 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 30 April 2024 |
| The fixed asset investment represents 30% of the ordinary shares and 93.2% of the preference shares of Delta Energy Limited, whose registered address is Central Court, 25 Southampton Buildings, London, Middlesex WC2A 1AL. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| $ | $ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| $ | $ |
| Other creditors |
| Other creditors represents loan notes that are due for repayment upon certain conditions being met as set out in the loan note instrument, the directors do not believe these amounts will be payable in the short term but have classified them as a current liability. They accrue interest at 12%, payable on redemption. |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| $ | $ |
| Other creditors |
| 8. | RELATED PARTY DISCLOSURES |
| At the year end, Delta Energy Management Services Limited owed Delta Energy Holdings Limited $129 (2024 : $129) and owed Delta Energy Limited $256,309 (2024 : $261,012). This balance forms part of Other Creditors. |
| DELTA ENERGY MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 10681181) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 MAY 2024 TO 31 MARCH 2025 |
| 9. | ULTIMATE CONTROLLING PARTY |
| Delta Energy Management Services Limited was wholly owned by Delta Energy Holdings Limited. The company and group was controlled by the directors at the balance sheet date. |
| DELTA ENERGY MANAGEMENT SERVICES LIMITED |
| REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF |
| DELTA ENERGY MANAGEMENT SERVICES LIMITED |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| As described on the Balance Sheet you are responsible for the preparation of the financial statements for the period ended 31 March 2025 set out on pages three to seven and you consider that the company is exempt from an audit. |
| In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
| 30 Garners Road |
| Chalfont St Peter |
| Buckinghamshire |
| SL9 0EZ |