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Registered number: 09966396
Delph Property Investments Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Harris & Company (C.A.) Limited
Delph Property Investments Limited
Contents
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—8
Page 1
Delph Property Investments Limited
Balance Sheet
As At 31 December 2024
Balance Sheet
Registered number: 09966396
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 343
Investment Properties 5 421,322 7,423,521
421,322 7,423,864
CURRENT ASSETS
Debtors 6 3,649,678 423,928
Cash at bank and in hand 16,078,405 15,837,533
19,728,083 16,261,461
Creditors: Amounts Falling Due Within One Year 7 (10,175,556 ) (3,824,690 )
NET CURRENT ASSETS (LIABILITIES) 9,552,527 12,436,771
TOTAL ASSETS LESS CURRENT LIABILITIES 9,973,849 19,860,635
Creditors: Amounts Falling Due After More Than One Year 8 (9,562,075 ) (11,451,884 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,147 ) (1,147 )
NET ASSETS 410,627 8,407,604
CAPITAL AND RESERVES
Called up share capital 9 1,000,000 8,069,694
Profit and Loss Account (589,373 ) 337,910
SHAREHOLDERS' FUNDS 410,627 8,407,604
Page 1
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Delph Property Investments Limited
Balance Sheet (continued)
As At 31 December 2024
For the year ending 31 December 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 his 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
Mr Paul Crocker
Director
28 August 2025
The notes on pages 3 to 8 form part of these financial statements.
Page 2
Page 3
Delph Property Investments Limited
Notes to the Financial Statements
For The Year Ended 31 December 2024
Notes to the Financial Statements
1. General Information
Delph Property Investments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09966396 . The registered office is 35 Ballards Lane, London, N3 1XW.
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. 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.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
2.3. Tangible Fixed Assets and Depreciation
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:
Motor Vehicles 3 years straight line
Fixtures & Fittings 5 years straight line
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.
2.4. Investment Properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
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Delph Property Investments Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
2.5. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2.6. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
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Delph Property Investments Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
2.7. Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
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.
2.8. Employee Benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2.9. Pensions
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2.10. Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
...CONTINUED
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Delph Property Investments Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
2.10. Impairment of fixed assets - continued
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
2.11. Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2.12. Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2024 36,225 117,043 153,268
Disposals (36,225 ) (117,043 ) (153,268 )
As at 31 December 2024 - - -
Depreciation
As at 1 January 2024 36,225 116,700 152,925
Disposals (36,225 ) (116,700 ) (152,925 )
As at 31 December 2024 - - -
Net Book Value
As at 31 December 2024 - - -
As at 1 January 2024 - 343 343
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Delph Property Investments Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
5. Investment Property
2024
£
Fair Value
As at 1 January 2024 7,423,521
Disposals (7,002,199 )
As at 31 December 2024 421,322
Investment property comprises a number of residential properties. The directors believe the fair value of investment property is not considered to be materially different to the acquisition cost.
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 23,279 51,780
Amounts owed by participating interests 605,559 354,397
Other debtors 3,020,840 17,751
3,649,678 423,928
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,918 99,831
Amounts owed to participating interests 175,433 2,910,973
Other creditors 9,966,387 709,309
Taxation and social security 29,818 104,577
10,175,556 3,824,690
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Amounts owed to participating interests 9,562,075 11,451,884
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000,000 8,069,694
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Delph Property Investments Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
10. Related Party Disclosures
At the year end, the Company was due £605,559 (2023: £354,397) from companies under common control which is included within other debtors due within one year.
At the year end, the Company owned £175,433 (2023: £2,910,972) to companies under common control which is included within other creditors due within one year.
At the year end, the Company owed £9,562,075 (2023: £11,451,884) to companies under common control which is included within other creditors due more than one year. Interest and arrangement fees totaling £149,605 (2023:£171,783) have been charged in the period.
At the year end, the Company owed £9,215,895 (2023: £35,031) to the shareholders. The loans are repayable on demand and may bear interest at the discretion of the director/shareholders.
During the year, interest of £200,000 was charged.
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