COMPANY REGISTRATION NUMBER:
07461733
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DELTA ONE INVESTMENTS LTD |
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Filleted Financial Statements |
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DELTA ONE INVESTMENTS LTD |
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Statement of Financial Position |
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31 December 2024
Fixed assets
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Tangible assets |
4 |
15,995 |
21,300 |
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|
|
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Current assets
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Debtors |
5 |
8,748 |
11,462 |
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Cash at bank and in hand |
355,025 |
608,957 |
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--------- |
--------- |
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363,773 |
620,419 |
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|
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Creditors: amounts falling due within one year |
6 |
379,767 |
641,718 |
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--------- |
--------- |
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Net current liabilities |
15,994 |
21,299 |
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-------- |
-------- |
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Total assets less current liabilities |
1 |
1 |
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---- |
---- |
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Net assets |
1 |
1 |
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---- |
---- |
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Capital and reserves
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Called up share capital |
1 |
1 |
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---- |
---- |
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Shareholders funds |
1 |
1 |
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---- |
---- |
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the
board of directors
and authorised for issue on
17 September 2025
, and are signed on behalf of the board by:
Company registration number:
07461733
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DELTA ONE INVESTMENTS LTD |
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Notes to the Financial Statements |
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Year ended 31 December 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Claremont, Bradford, West Yorkshire, BD7 1BQ, United Kingdom. The ultimate parent undertaking and controlling party is Human Relief Foundation, a charity registered in England and Wales, the registered office of which is 2 Claremont, Bradford, BD7 1BQ.
2.
Accounting policies
Basis of preparation
These financial statements have been prepared in accordance with The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
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.
Going concern
The directors have considered all factors, including in the wider economy, as part of their assessment of going concern. Although the current economic climate creates both cashflow and profitability risks for the company, the directors believe on balance that they have sufficient resources to enable trading to continue for a period of at least one year from the date of approval of the financial statements. Accordingly, these financial statements have been prepared on the going concern basis.
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.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Human Relief Foundation which can be obtained from their website. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) No disclosure has been given for the aggregate remuneration of key management personnel.
Revenue recognition
Turnover represents amounts receivable for the sale of donated goods in retail shops and income from the sale of 'rags' for recycling and is recognised at the point that the goods are passed to the customer.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Long leasehold property |
- |
20% straight line |
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Fixtures and fittings |
- |
20% straight line |
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
3.
Employee numbers
The average number of persons employed by the company during the year amounted to
20
(2023:
16
).
4.
Tangible assets
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Long leasehold property |
Fixtures and fittings |
Total |
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£ |
£ |
£ |
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Cost |
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At 1 January 2024 and 31 December 2024 |
16,464 |
49,793 |
66,257 |
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-------- |
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Depreciation |
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At 1 January 2024 |
263 |
44,694 |
44,957 |
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Charge for the year |
3,293 |
2,012 |
5,305 |
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At 31 December 2024 |
3,556 |
46,706 |
50,262 |
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-------- |
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Carrying amount |
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At 31 December 2024 |
12,908 |
3,087 |
15,995 |
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At 31 December 2023 |
16,201 |
5,099 |
21,300 |
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-------- |
-------- |
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5.
Debtors
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2024 |
2023 |
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£ |
£ |
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Other debtors |
8,748 |
11,462 |
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------- |
-------- |
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6.
Creditors:
amounts falling due within one year
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2024 |
2023 |
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£ |
£ |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
367,479 |
633,244 |
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Corporation tax |
2,686 |
1,562 |
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Social security and other taxes |
1,582 |
– |
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Other creditors |
8,020 |
6,912 |
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--------- |
--------- |
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379,767 |
641,718 |
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--------- |
--------- |
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7.Summary audit opinion
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
The senior statutory auditor was Mr. Mohammed Afzaal Bhatti, for and on behalf of K B M UK Limited.
8.
Controlling party
The ultimate parent undertaking and controlling party is Human Relief Foundation (HRF), a charity registered in England and Wales, the registered office of which is 2 Claremont, Bradford, BD7 1BQ. The financial statements of the company are consolidated in the financial statements of HRF. Copies of the group financial statements are available from HRF's registered office. HRF is the smallest and largest group into which Delta One Investments Limited is consolidated. Profits earned are passed to the company's party charity, Human Relief Foundation, by way of a deed of covenant.