| REGISTERED NUMBER: |
| Delph Properties Manchester 1 Ltd |
| Financial Statements |
| for the Year Ended 31 December 2024 |
| REGISTERED NUMBER: |
| Delph Properties Manchester 1 Ltd |
| Financial Statements |
| for the Year Ended 31 December 2024 |
| Delph Properties Manchester 1 Ltd (Registered number: 09881100) |
| Contents of the Financial Statements |
| for the year ended 31 December 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Delph Properties Manchester 1 Ltd |
| Company Information |
| for the year ended 31 December 2024 |
| Directors: |
| Registered office: |
| Registered number: |
| Delph Properties Manchester 1 Ltd (Registered number: 09881100) |
| Balance Sheet |
| 31 December 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Investments | 4 |
| Current assets |
| Debtors | 5 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 6 |
| Net current assets |
| Total assets less current liabilities |
| 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. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Delph Properties Manchester 1 Ltd (Registered number: 09881100) |
| Notes to the Financial Statements |
| for the year ended 31 December 2024 |
| 1. | Statutory information |
| Delph Properties Manchester 1 Ltd is a |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| 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 pound. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Turnover |
| Turnover represents amounts receivable for services provided in the year and is stated net of VAT. |
| Turnover comprises revenue recognised by the company in respect of the management recharges recieved. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Financial instruments |
| Financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument. The company holds basic financial instruments which comprise cash at bank, trade and other receivables, equity investments and trade and other payables. The company has chosen to apply the provisions of Section 11 Basic Financial Instruments in full. |
| Financial assets - classified as basic financial instruments |
| (i) Cash at bank and in hand |
| Cash at bank and in hand include cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less. |
| (ii) Trade and other receivables |
| Trade and other receivables are initially recognised at the transaction price, including any transaction |
| costs. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment. At the end of each reporting period, the company assesses whether there is objective evidence that an receivable amount may be impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables. The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in the Income Statement. |
| (iii) Equity investments |
| Equity investments comprise ordinary shares in subsidiaries and associates. Equity investments are initially recognised at cost, which is the transaction price excluding transaction costs and reviewed annually for impairment. Any impairment is recognised in the Income Statement. |
| Delph Properties Manchester 1 Ltd (Registered number: 09881100) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2024 |
| 2. | Accounting policies - continued |
| Financial Liabilities - classified as basic financial instruments |
| (i) Trade and other payables and loans and borrowings |
| Trade and other payables and loans and borrowings are initially measured at the transaction price, including any transaction costs, and subsequently measured at amortised cost using the effective interest method. Amounts that are payable within one year are measured at the undiscounted amount of the cash expected to be paid. |
| Going concern |
| In the opinion of the Directors, based on the Company's budgets and financial projections, they have satisfied themselves that the business is a going concern. The Directors have reasonable expectations that the Company has adequate resources to continue for a period of at least 12 months from authorisation of the financial statements and therefore consider that the going concern basis of accounting is applicable. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| 4. | Fixed asset investments |
| Shares in |
| group |
| undertakings |
| £ |
| Cost |
| At 1 January 2024 |
| and 31 December 2024 |
| Net book value |
| At 31 December 2024 |
| At 31 December 2023 |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Registered office: 35 Ballards Lane, London, N3 1XW |
| Nature of business: |
| % |
| Class of shares: | holding |
| Registered office: 35 Ballards Lane, London, N3 1XW |
| Nature of business: |
| % |
| Class of shares: | holding |
| 5. | Debtors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Amounts owed by group undertakings |
| Called up share capital not paid |
| Prepayments and accrued income |
| Delph Properties Manchester 1 Ltd (Registered number: 09881100) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2024 |
| 6. | Creditors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| VAT | - | 22,953 |
| Other creditors |
| Accruals and deferred income |
| 7. | Related party disclosures |
| As at the year end the company has a number of balances outstanding with related parties. These have been summarised below, with positive balances indicating debtors and negative balances indicating creditors. |
| Company | Relation | 2024 | 2023 |
| Delph Properties Developments Limited | Company under common control | (104,582 | ) | (94,141 | ) |
| Pearl Finance Limited | Company under common control | 27,532 | (4,552 | ) |
| Delph Management Company Limited | Company under common control | (1,498 | ) | (1,498 | ) |
| All loans are unsecured, interest free and repayable on demand. |
| 8. | Ultimate controlling party |
| The immediate and ultimate parent company is Wigmore Investments (UK) Limited, a company incorporated and registered in England and Wales, whose registered address is 35 Ballards Lane, London, N3 1XW. |
| The ultimate controlling party is H Crocker by virtue of his shareholding in the ultimate parent company. |