Registration number: 09971814

De Lacy Executive Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 10

De Lacy Executive Limited

Company Information

Director

G Dyer

Registered office

Suite 1, First Floor Oak House Bromyard Road Worcester WR2 5HP

Accountants

Boon and Worth Limited Suite A4, Skylon Court Coldnose Road Rotherwas Hereford HR2 6JS

De Lacy Executive Limited

(Registration number: 09971814)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	5	24,806	28,376
Tangible assets	6	8,469	9,569
Other financial assets	7	-	50,000
		33,275	87,945
Current assets
Debtors	8	147,491	77,790
Cash at bank and in hand		104,556	83,892
		252,047	161,682
Creditors: Amounts falling due within one year	9	(83,489)	(70,355)
Net current assets		168,558	91,327
Total assets less current liabilities		201,833	179,272
Creditors: Amounts falling due after more than one year	9	(33,078)	(38,707)
Net assets		168,755	140,565
Capital and reserves
Called up share capital	10	100	100
Retained earnings		168,655	140,465
Shareholders' funds		168,755	140,565

De Lacy Executive Limited

(Registration number: 09971814)
Balance Sheet as at 31 December 2024

For the financial 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.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 June 2025
 

......................................... G Dyer Director

De Lacy Executive Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Suite 1, First Floor
Oak House
Bromyard Road
Worcester
WR2 5HP
England and Wales

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

De Lacy Executive Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	20% reducing balance
Computer equipment	30% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Intangible assets	Over 5 years less residual amount
Intangible assets other than goodwill	15% SLM

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

De Lacy Executive Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 8 (2023 - 11).

4	Profit/loss before tax

Arrived at after charging/(crediting)

	2024 £	2023 £
Depreciation expense	2,765	6,245
Amortisation expense	9,750	8,390

De Lacy Executive Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

5	Intangible assets

	Goodwill  £	Other intangible assets  £	Total £
Cost or valuation
At 1 January 2024	125,000	38,470	163,470
Additions acquired separately	-	6,180	6,180
At 31 December 2024	125,000	44,650	169,650
Amortisation
At 1 January 2024	125,000	10,094	135,094
Amortisation charge	-	9,750	9,750
At 31 December 2024	125,000	19,844	144,844
Carrying amount
At 31 December 2024	-	24,806	24,806
At 31 December 2023	-	28,376	28,376

6	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2024	40,747	40,747
Additions	1,895	1,895
Disposals	(503)	(503)
At 31 December 2024	42,139	42,139
Depreciation
At 1 January 2024	31,178	31,178
Charge for the year	2,766	2,766
Eliminated on disposal	(274)	(274)
At 31 December 2024	33,670	33,670
Carrying amount
At 31 December 2024	8,469	8,469
At 31 December 2023	9,569	9,569

De Lacy Executive Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

7	Other financial assets (current and non-current)

	Financial assets at fair value through profit and loss £	Total £
Non-current financial assets
Cost or valuation
At 1 January 2024	50,000	50,000
Disposals	(50,000)	(50,000)
At 31 December 2024	-	-
Impairment
Carrying amount
At 31 December 2024	-	-

8

Debtors

	2024 £	2023 £
Trade debtors	34,897	20,074
Prepayments	153	5,376
Other debtors	112,441	52,340
	147,491	77,790

De Lacy Executive Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

9

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	11	20,000	20,000
Trade creditors		6,179	9,163
Taxation and social security		36,994	38,976
Accruals and deferred income		15,500	1,400
Other creditors		4,816	816
		83,489	70,355

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	11	33,078	38,707

10	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary Shares of £1 each	100	100	100	100

De Lacy Executive Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

11	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	33,078	38,707

Current loans and borrowings

	2024 £	2023 £
Other borrowings	20,000	20,000

12	Related party transactions

Summary of transactions with other related parties

Loans to related parties

2024	Parent £	Other related parties £	Total £
At start of period	-	52,340	52,340
Advanced	80,001	-	80,001
Repaid	(20,000)	-	(20,000)
At end of period	60,001	52,340	112,341

2023	Other related parties £	Total £
At start of period	52,340	52,340
At end of period	52,340	52,340

Terms of loans to related parties

Other debtors includes amounts due from AgCareers.com Canada inc, the parent company.