Delvaux Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—8

1. General Information

Delvaux Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01471545 . The registered office is Albany House, Claremont Lane, Esher, Surrey, KT10 9FQ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

Presentational Currency

The accounts are presented in and rounded to the nearest £1 sterling.

Statement of compliance

The financial statements have been prepared using FRS102, the financial reporting standard applicable in the UK and Republic of Ireland, including the disclosure and presentation requirements of Section 1A, applicable to small companies. There were no material departures from that standard.

2.2. Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue is recongised when goods are dispatched to customers.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:

Computer software	25% Reducing balance
Website	25% Reducing balance

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	15% Reducing balance
Office Equipment	20% Reducing balance

2.5. Stocks and Work in Progress

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

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Delvaux Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.6. Financial Instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

2.7. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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Delvaux Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.8. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised instatement of income and retained earning for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.9. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.10. Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of Income and Retained Earnings on a straight-line basis over the lease term.

2.11. Interest income

Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.

2.12. Dividends

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.

2.13 Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.14 Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.15 Creditors

Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2024: 3)

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Delvaux Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

4. Intangible Assets

	Website	Computer software	Total
	£	£	£
Cost
As at 1 April 2024	34,948	9,200	44,148

As at 31 March 2025	34,948	9,200	44,148

Amortisation
As at 1 April 2024	28,607	6,095	34,702
Provided during the period	1,585	776	2,361

As at 31 March 2025	30,192	6,871	37,063

Net Book Value
As at 31 March 2025	4,756	2,329	7,085

As at 1 April 2024	6,341	3,105	9,446

5. Tangible Assets

	Plant & Machinery	Office Equipment	Total
	£	£	£
Cost
As at 1 April 2024	77,176	16,322	93,498
Additions	7,396	-	7,396
Disposals	(7,960 )	(10,569 )	(18,529 )

As at 31 March 2025	76,612	5,753	82,365

Depreciation
As at 1 April 2024	51,233	11,482	62,715
Provided during the period	3,983	968	4,951
Disposals	(6,116 )	(9,494 )	(15,610 )

As at 31 March 2025	49,100	2,956	52,056

Net Book Value
As at 31 March 2025	27,512	2,797	30,309

As at 1 April 2024	25,943	4,840	30,783

6. Stocks

	2025	2024
	£	£
Finished goods	17,955	13,136

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Delvaux Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	96,119	66,572
Prepayments and accrued income	4,012	5,943
Other debtors	-	181

	100,131	72,696

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	107,321	60,306
Corporation tax	14,874	11,148
Other taxes and social security	2,788	10,327
VAT	6,737	-
Other creditors	20,067	12,655
Accruals and deferred income	3,120	3,039
Directors' loan accounts	312	-

	155,219	97,475

9. Deferred taxation

The provision for deferred tax is made up as follows:

	2025	2024
	£	£
Other timing differences	10,538	8,418

10. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 April 2024	8,418	8,418
Additions	2,120	2,120

Balance at 31 March 2025	10,538	10,538

11. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
100 Ordinary A shares of £ 1.00 each	100	100
11 Ordinary B shares of £ 1.00 each	11	11

	111	111

The shares rank equally apart from dividends can be declared on the different classes of shares.

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Delvaux Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

12. Other Commitments

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

	2025	2024
	£	£
Not later than one year	24,000	24,000
Later than one year and not later than five years	56,000	72,000
Later than five years	-	8,000

	80,000	104,000

13. Reserves

	Share Premium	Profit and Loss Account
	£	£
As at 1 April 2024	3,951	288,403
Profit for the year and total comprehensive income	-	55,904

Dividends paid	-	(44,904)

As at 31 March 2025	3,951	299,403

Share premium account

The reserve represents the premium arising on the issues of shares, net of issue costs.

Profit & loss account

The profit and loss account represents cumulative profits and losses net of dividends and other adjustments.

14. Related Party Transactions

The company owed £312 to a director at the year end (2024 - £224) this amount is included within other creditors. The loan is interest free and repayable on demand.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		7,085		9,446
Tangible Assets	5		30,309		30,783

			37,394		40,229
CURRENT ASSETS
Stocks	6	17,955		13,136
Debtors	7	100,131		72,696
Cash at bank and in hand		313,742		272,297

		431,828		358,129
Creditors: Amounts Falling Due Within One Year	8	(155,219 )		(97,475 )

NET CURRENT ASSETS (LIABILITIES)			276,609		260,654

TOTAL ASSETS LESS CURRENT LIABILITIES			314,003		300,883

PROVISIONS FOR LIABILITIES
Deferred taxation	9		(10,538 )		(8,418 )

NET ASSETS			303,465		292,465

CAPITAL AND RESERVES
Called up share capital	11		111		111
Share premium account			3,951		3,951
Profit and Loss Account			299,403		288,403

SHAREHOLDERS' FUNDS			303,465		292,465