Del Suelo Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: NI696890

Del Suelo Limited

Filleted Financial Statements

31 December 2024

Del Suelo Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Intangible assets	4	109,417	–

Current assets

Cash at bank and in hand	10	10

Creditors: amounts falling due within one year	5	126,291	–
		---------	----
Net current (liabilities)/assets		( 126,281)	10
		---------	----
Total assets less current liabilities		( 16,864)	10
		--------	----
Net (liabilities)/assets		( 16,864)	10
		--------	----

Capital and reserves

Called up share capital	10	10
Profit and loss account	( 16,874)	–
	--------	----
Shareholders (deficit)/funds	( 16,864)	10
	--------	----

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 statement of comprehensive income 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 29 September 2025 , and are signed on behalf of the board by:

Mr R Ryan	Mr S Pattison
Director	Director

Company registration number: NI696890

Del Suelo Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 13 Lombard Street, Belfast, BT1 1RB.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The directors have considered a number of factors in order assess the continued applicability of the going concern basis of preparation. These include the current position of the company and the impact of progress made to date on future prospects, the wider industry and market conditions and the funding facilities and ongoing support that it has with its funding partners. Despite prolonged, well documented market constraints, the impact of which the business has taken steps to mitigate, revenues continue to gather momentum as the company expands its product portfolio and geographical reach, with an eye to optimising gross profit and affordable financing. Forecasts for the year to December 2026, based on prudent management assumptions, indicate that the company has adequate funding to meet its requirements. The directors remain confident in the commercial strategy of the business and are satisfied with the progress being made to date. In light of these factors, the directors are confident that it remains appropriate to prepare these financial statements on a going concern basis.

Judgements and key sources of estimation uncertainty

Amortisation The company's statement of financial position reflects an intangible fixed asset class which is subject to amortisation. Amortisation rates are based upon the expected economic lives of the related intangible fixed assets. Any variation in the useful economic lives of the asset class will have an impact on the balance sheet and financial position of the company. The useful economic lives of intangible fixed assets are uncertain and, therefore, the actual economic life of an asset may be shorter or or longer than expected. There have been no significant revisions to the estimated lives during the current financial year. Going concern In order to assess whether it is appropriate for the company to be reported as a going concern, the directors apply judgement, having undertaken appropriate enquiries and having considered the business activities and the company's principal risks and uncertainties. In arriving at this judgement there are a large number of assumptions and estimates involved.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Development costs	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Research and development

Research expenditure is written off in the period in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.

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.

4. Intangible assets

	Development costs
	£
Cost
Additions	121,574
	---------
At 31 December 2024	121,574
	---------
Amortisation
Charge for the year	12,157
	---------
At 31 December 2024	12,157
	---------
Carrying amount
At 31 December 2024	109,417
	---------
At 31 December 2023	–
	---------

5. Creditors: amounts falling due within one year

	2024	2023
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	742	–
Other creditors	125,549	–
	---------	----
	126,291	–
	---------	----

6. Summary audit opinion

The auditor's report dated 29 September 2025 was unqualified .

The senior statutory auditor was John Magee , for and on behalf of Aubrey Campbell & Company .

7. Related party transactions

At the balance sheet date the company owed £742 (2023: £nil) to a company under common directorship.

8. Controlling party

The ultimate undertaking and the smallest and largest group to consolidate these financial statements is Kirker Greer (Holdings) Limited . Copies of Kirker Greer (Holdings) Limited consolidated financial statements can be obtained from 13 Lombard Street, Belfast, BT1 1RB. The company's ultimate controlling parties are Mr S Pattison and Mr R Ryan .