Company No:
Contents
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Investments | 3 |
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| 187,981 | 187,981 | |||
| Current assets | ||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| 5,017 | 100 | |||
| Creditors: amounts falling due within one year | 5 | (
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(
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| Net current liabilities | (882,700) | (185,483) | ||
| Total assets less current liabilities | (694,719) | 2,498 | ||
| Net (liabilities)/assets | (
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| Capital and reserves | ||||
| Called-up share capital | 6 |
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| Profit and loss account | (
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| Total shareholders' (deficit)/funds | (
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Directors' responsibilities:
The financial statements of Delph Group Holdings Ltd (registered number:
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P J Crocker
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.
Delph Group Holdings Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses or reversals of impairment losses are recognised immediately in the profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.
Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Financial assets and liabilities are offset and 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.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the company during the year, including directors |
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Investments in subsidiaries
| 2024 | |
| £ | |
| Cost | |
| At 01 January 2024 |
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| At 31 December 2024 |
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| Carrying value at 31 December 2024 |
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| Carrying value at 31 December 2023 |
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Investments in shares
Details of the company's subsidiaries at 31 December 2024 are as follows:
| Name of entity | Registered office | Class of shares |
Ownership 31.12.2024 |
Ownership 31.12.2023 |
Held |
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35 Ballards Lane, London, N3 1XW |
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Direct |
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35 Ballards Lane, London, N3 1XW |
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Direct |
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35 Ballards Lane, London, N3 1XW |
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Direct |
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35 Ballards Lane, London, N3 1XW |
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Direct |
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1 Vere Street, London, W1G 0DF |
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Indirect |
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35 Ballards Lane, London, N3 1XW |
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Indirect |
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5th Floor Grove House, 248a Marylebone Road, London, NW1 6BB |
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Direct |
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5th Floor Grove House, 248a Marylebone Road, London, NW1 6BB |
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Direct |
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5th Floor Grove House, 248a Marylebone Road, London, NW1 6BB |
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Direct |
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5th Floor Grove House, 248a Marylebone Road, London, NW1 6BB |
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Direct |
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5th Floor Grove House, 248a Marylebone Road, London, NW1 6BB |
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Direct |
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5th Floor Grove House, 248a Marylebone Road, London, NW1 6BB |
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Direct |
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5th Floor Grove House, 248a Marylebone Road, London, NW1 6BB |
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Direct |
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5th Floor Grove House, 248a Marylebone Road, London, NW1 6BB |
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Direct |
| 2024 | 2023 | ||
| £ | £ | ||
| Other debtors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Amounts owed to group undertakings |
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| Taxation and social security |
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| Other creditors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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| 1,748 | 1,748 |
The disclosure exemption conferred by FRS 102 Section 33:1A has been utilised, whereby the company has not disclosed transactions with any wholly owned subsidiary undertaking of the group.
At the period end, the company owed £308,982 (2023: £15,480) to companies under common control which is included within other creditors. The balance is repayable on demand. No interest is accruing on these balances.
During the period, management fees of £Nil (2023: £21,000) have been charged to companies under common control.