Caseware UK (AP4) 2024.0.164 2024.0.164 2024-10-312024-10-3112023-11-01falseNo description of principal activity1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09825619 2023-11-01 2024-10-31 09825619 2022-11-01 2023-10-31 09825619 2024-10-31 09825619 2023-10-31 09825619 2022-11-01 09825619 1 2022-11-01 2023-10-31 09825619 9 2023-11-01 2024-10-31 09825619 9 2022-11-01 2023-10-31 09825619 d:Director1 2023-11-01 2024-10-31 09825619 e:FurnitureFittings 2023-11-01 2024-10-31 09825619 e:OtherPropertyPlantEquipment 2023-11-01 2024-10-31 09825619 e:OtherPropertyPlantEquipment 2024-10-31 09825619 e:OtherPropertyPlantEquipment 2023-10-31 09825619 e:OtherPropertyPlantEquipment e:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 09825619 e:FreeholdInvestmentProperty 2024-10-31 09825619 e:FreeholdInvestmentProperty 2023-10-31 09825619 e:CurrentFinancialInstruments 2024-10-31 09825619 e:CurrentFinancialInstruments 2023-10-31 09825619 e:Non-currentFinancialInstruments 2024-10-31 09825619 e:Non-currentFinancialInstruments 2023-10-31 09825619 e:CurrentFinancialInstruments e:WithinOneYear 2024-10-31 09825619 e:CurrentFinancialInstruments e:WithinOneYear 2023-10-31 09825619 e:Non-currentFinancialInstruments e:AfterOneYear 2024-10-31 09825619 e:Non-currentFinancialInstruments e:AfterOneYear 2023-10-31 09825619 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2024-10-31 09825619 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2023-10-31 09825619 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2024-10-31 09825619 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2023-10-31 09825619 e:Non-currentFinancialInstruments e:MoreThanFiveYears 2024-10-31 09825619 e:Non-currentFinancialInstruments e:MoreThanFiveYears 2023-10-31 09825619 e:ShareCapital 2023-11-01 2024-10-31 09825619 e:ShareCapital 2024-10-31 09825619 e:ShareCapital 2022-11-01 2023-10-31 09825619 e:ShareCapital 2023-10-31 09825619 e:ShareCapital 2022-11-01 09825619 e:RevaluationReserve 2023-11-01 2024-10-31 09825619 e:RevaluationReserve 2024-10-31 09825619 e:RevaluationReserve 9 2023-11-01 2024-10-31 09825619 e:RevaluationReserve 2022-11-01 2023-10-31 09825619 e:RevaluationReserve 2023-10-31 09825619 e:RevaluationReserve 2022-11-01 09825619 e:RevaluationReserve 8 2022-11-01 2023-10-31 09825619 e:RevaluationReserve 9 2022-11-01 2023-10-31 09825619 e:InvestmentPropertiesRevaluationReserve 2023-11-01 2024-10-31 09825619 e:InvestmentPropertiesRevaluationReserve 2024-10-31 09825619 e:InvestmentPropertiesRevaluationReserve 2022-11-01 2023-10-31 09825619 e:InvestmentPropertiesRevaluationReserve 2023-10-31 09825619 e:InvestmentPropertiesRevaluationReserve 2022-11-01 09825619 e:InvestmentPropertiesRevaluationReserve 1 2022-11-01 2023-10-31 09825619 e:RetainedEarningsAccumulatedLosses 2023-11-01 2024-10-31 09825619 e:RetainedEarningsAccumulatedLosses 2024-10-31 09825619 e:RetainedEarningsAccumulatedLosses 2022-11-01 2023-10-31 09825619 e:RetainedEarningsAccumulatedLosses 2023-10-31 09825619 e:RetainedEarningsAccumulatedLosses 2022-11-01 09825619 e:RetainedEarningsAccumulatedLosses 1 2022-11-01 2023-10-31 09825619 d:FRS102 2023-11-01 2024-10-31 09825619 d:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 09825619 d:FullAccounts 2023-11-01 2024-10-31 09825619 d:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 09825619 2 2023-11-01 2024-10-31 09825619 5 2023-11-01 2024-10-31 09825619 6 2023-11-01 2024-10-31 09825619 e:ShareCapital 1 2022-11-01 2023-10-31 09825619 e:TaxLossesCarry-forwardsDeferredTax 2024-10-31 09825619 e:TaxLossesCarry-forwardsDeferredTax 2023-10-31 09825619 e:OtherDeferredTax 2024-10-31 09825619 e:OtherDeferredTax 2023-10-31 09825619 f:PoundSterling 2023-11-01 2024-10-31 09825619 e:RetainedEarningsAccumulatedLosses 9 2023-11-01 2024-10-31 09825619 e:RetainedEarningsAccumulatedLosses 9 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Registered number: 09825619









DELTA LONDON ASSET MANAGEMENT LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2024

 
DELTA LONDON ASSET MANAGEMENT LTD
REGISTERED NUMBER:09825619

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
200,162
217,373

Investments
 5 
242,828
237,696

Investment property
 6 
2,045,000
2,045,000

  
2,487,990
2,500,069

Current assets
  

Debtors: amounts falling due within one year
 7 
-
13,917

Cash at bank and in hand
 8 
8,305
46,664

  
8,305
60,581

Creditors: amounts falling due within one year
 9 
(1,215,235)
(1,266,942)

Net current liabilities
  
 
 
(1,206,930)
 
 
(1,206,361)

Total assets less current liabilities
  
1,281,060
1,293,708

Creditors: amounts falling due after more than one year
 10 
(1,225,692)
(1,203,538)

Provisions for liabilities
  

Deferred tax
 12 
(142,198)
(140,915)

  
 
 
(142,198)
 
 
(140,915)

Net liabilities
  
(86,830)
(50,745)


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Revaluation reserve
 13 
(6,042)
(9,891)

Investment property reserve
 13 
432,635
432,635

Profit and loss account
 13 
(514,423)
(474,489)

  
(86,830)
(50,745)


Page 1

 
DELTA LONDON ASSET MANAGEMENT LTD
REGISTERED NUMBER:09825619
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 on 16 July 2025.




................................................
M. C. Davis
Director

The notes on pages 6 to 16 form part of these financial statements.

Page 2

 
DELTA LONDON ASSET MANAGEMENT LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2024


Called up share capital
Revaluation reserve
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£
£

At 1 November 2023
1,000
(9,891)
432,635
(474,489)
(50,745)


Comprehensive income for the year

Loss for the year

-
-
-
(39,934)
(39,934)

Impairment adjustment - other fixed assets
-
3,849
-
-
3,849


Other comprehensive income for the year
-
3,849
-
-
3,849


Total comprehensive income for the year
-
3,849
-
(39,934)
(36,085)


Total transactions with owners
-
-
-
-
-


At 31 October 2024
1,000
(6,042)
432,635
(514,423)
(86,830)


The notes on pages 6 to 16 form part of these financial statements.

Page 3

 
DELTA LONDON ASSET MANAGEMENT LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2023


Called up share capital
Revaluation reserve
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£
£

At 1 November 2022
1,000
(11,284)
557,059
(457,539)
89,236


Comprehensive income for the year

Loss for the year

-
-
-
(16,950)
(16,950)

Impairment adjustment - other fixed assets
-
1,393
-
-
1,393

Investment property deficit on valuation
-
-
(124,424)
-
(124,424)


Other comprehensive income for the year
-
1,393
(124,424)
-
(123,031)


Total comprehensive income for the year
-
1,393
(124,424)
(16,950)
(139,981)


Total transactions with owners
-
-
-
-
-


At 31 October 2023
1,000
(9,891)
432,635
(474,489)
(50,745)


The notes on pages 6 to 16 form part of these financial statements.

Page 4

 
DELTA LONDON ASSET MANAGEMENT LTD
 

ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 OCTOBER 2024




At 1 November 2023
Cash flows
At 31 October 2024
£

£

£

Cash at bank and in hand

46,664

(38,360)

8,304

Bank overdrafts

-

(481)

(481)

Debt due after 1 year

(1,203,538)

(22,153)

(1,225,691)

Debt due within 1 year

(161,476)

6,639

(154,837)


(1,318,350)
(54,355)
(1,372,705)

The notes on pages 6 to 16 form part of these financial statements.

Page 5

 
DELTA LONDON ASSET MANAGEMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

The entity is a private company limited by share capital, registered in England and Wales and the registered address is situated at Unit 3, Bradburys Court, Lyon Road, Harrow, Middlesex, HA1 2BY.

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 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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Page 6

 
DELTA LONDON ASSET MANAGEMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.3

Interest income

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

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 7

 
DELTA LONDON ASSET MANAGEMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
Other fixed assets
-
5%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.9

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Page 8

 
DELTA LONDON ASSET MANAGEMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.11

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 9

 
DELTA LONDON ASSET MANAGEMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

4.


Tangible fixed assets





Other fixed assets

£



Cost or valuation


At 1 November 2023
344,191



At 31 October 2024

344,191



Depreciation


At 1 November 2023
126,819


Charge for the year on owned assets
17,210



At 31 October 2024

144,029



Net book value



At 31 October 2024
200,162



At 31 October 2023
217,373

Other fixed assets represent moveable garden pods.


5.


Fixed asset investments





Investments in associates
Other fixed asset investments
Total

£
£
£



Cost or valuation


At 1 November 2023
218,613
19,083
237,696


Revaluations
-
5,132
5,132



At 31 October 2024
218,613
24,215
242,828




Page 10

 
DELTA LONDON ASSET MANAGEMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

6.


Investment property


Freehold investment property

£



Valuation


At 1 November 2023
2,045,000



At 31 October 2024
2,045,000

The 2024 valuations were made by the director, on an open market value for existing use basis.

2024
2023
£
£

Revaluation reserves


At 1 November 2023
432,635
557,059

Net deficit in movement properties
-
(124,424)

At 31 October 2024
432,635
432,635



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
1,468,513
1,468,513

1,468,513
1,468,513

Page 11

 
DELTA LONDON ASSET MANAGEMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

7.


Debtors

2024
2023
£
£


Trade debtors
-
6,641

Other debtors
-
7,276

-
13,917



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
8,305
46,664

Less: bank overdrafts
(481)
-

7,824
46,664


Page 12

 
DELTA LONDON ASSET MANAGEMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
481
-

Other loans
155,197
161,836

Trade creditors
10,795
4,499

Amounts owed to group undertakings
1,040,002
1,081,930

Other creditors
-
10,042

Accruals and deferred income
8,760
8,635

1,215,235
1,266,942


The following liabilities were secured:

2024
2023
£
£



Secured Loans
155,197
161,836

155,197
161,836

Details of security provided:

The loans are secured against specific land and buildings by way of first charge mortgages containing negative pledge.

Page 13

 
DELTA LONDON ASSET MANAGEMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
802,456
802,456

Other loans
423,236
401,082

1,225,692
1,203,538


The following liabilities were secured:

2024
2023
£
£



Bank Loan
802,456
802,456

Secured Loan
578,433
401,082

1,380,889
1,203,538

Details of security provided:

The loans are secured against specific land and buildings by way of first charge mortgages containing negative pledge.

The aggregate amount of liabilities repayable wholly or in part more than five years after the reporting date is:

2024
2023
£
£


Repayable other than by instalments
802,456
802,456

802,456
802,456

The amounts that are repayable other than by instalment is interest only loans and the whole amount becomes repayable at the end of the term. The various loans have interest rates between 2% to 4%.

Page 14

 
DELTA LONDON ASSET MANAGEMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Other loans
155,197
161,836


155,197
161,836

Amounts falling due 1-2 years

Other loans
161,246
161,981


161,246
161,981

Amounts falling due 2-5 years

Other loans
261,989
239,102


261,989
239,102

Amounts falling due after more than 5 years

Bank loans
802,456
802,456

802,456
802,456

1,380,888
1,365,375


Page 15

 
DELTA LONDON ASSET MANAGEMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

12.


Deferred taxation




2024


£






At beginning of year
(140,915)


Charged to other comprehensive income
(1,283)



At end of year
(142,198)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Tax losses carried forward
2,015
3,297

Unrealised surplus on revaluation of fixed assets investments
(144,212)
(144,212)

(142,197)
(140,915)


13.


Reserves

Revaluation reserve

Revaluation reserve represents unrealised surplus/defecit on valuation of fixed assets investments net of attributable deferred tax charged to statement of comprehensive income.

Investment property revaluation reserve

Represents unrealised surplus/defecit on valuation of investment properties net of attributable deferred tax charged to statement of comprehensive income.

Profit and loss account

Profit and loss reserves represents the company’s profits available for distribution in accordance with section 830 of the Companies Act 2006 as its accumulated realised profits, so far as not previously utilised by distribution or capitalisation less its accumulated realised losses, so far as not previously written off in a reduction or capitalisation.

 
Page 16