Deltawood Limited
Unaudited Financial Statements
For the year ended 31 December 2025
Pages for Filing with Registrar
Company Registration No. 07454156 (England and Wales)
Deltawood Limited
Contents
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 10
Deltawood Limited
Balance Sheet
As at 31 December 2025
Page 1
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
416
856
Investment property
5
14,480,805
14,424,909
14,481,221
14,425,765
Current assets
Debtors
6
176,212
447,096
Cash at bank and in hand
421,995
309,958
598,207
757,054
Creditors: amounts falling due within one year
7
(368,158)
(652,984)
Net current assets
230,049
104,070
Total assets less current liabilities
14,711,270
14,529,835
Creditors: amounts falling due after more than one year
8
(16,763,973)
(16,963,973)
Provisions for liabilities
(11,502)
(11,611)
Net liabilities
(2,064,205)
(2,445,749)
Capital and reserves
Called up share capital
9
1,000
1,000
Revaluation reserve
537,291
537,291
Profit and loss reserves
(2,602,496)
(2,984,040)
Total equity
(2,064,205)
(2,445,749)

For the financial year ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Deltawood Limited
Balance Sheet (Continued)
As at 31 December 2025
Page 2
The financial statements were approved by the board of directors and authorised for issue on 7 May 2026 and are signed on its behalf by:
S Jenkins
Director
Company Registration No. 07454156
Deltawood Limited
Statement of Changes in Equity
For the year ended 31 December 2025
Page 3
Share capital
Revaluation reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 January 2024
1,000
537,291
(3,129,536)
(2,591,245)
Year ended 31 December 2024:
Profit and total comprehensive income for the year
-
-
145,496
145,496
Balance at 31 December 2024
1,000
537,291
(2,984,040)
(2,445,749)
Year ended 31 December 2025:
Profit and total comprehensive income for the year
-
-
381,544
381,544
Balance at 31 December 2025
1,000
537,291
(2,602,496)
(2,064,205)
Deltawood Limited
Notes to the Financial Statements
For the year ended 31 December 2025
Page 4
1
Accounting policies
Company information

Deltawood Limited is a private company limited by shares incorporated in England and Wales. The registered office is 146-148 Clerkenwell Road, 2nd Floor, London, EC1R 5DG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

IT equipment
33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

Deltawood Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
1
Accounting policies
(Continued)
Page 5
1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
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.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Deltawood Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
1
Accounting policies
(Continued)
Page 6
Classification of financial liabilities

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

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Deltawood Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
1
Accounting policies
(Continued)
Page 7
1.11
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.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
3
3
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
128,296
19,944
Adjustments in respect of prior periods
-
0
(15)
Total current tax
128,296
19,929
Deferred tax
Origination and reversal of timing differences
(110)
(59)
Total tax charge
128,186
19,870
Deltawood Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
Page 8
4
Tangible fixed assets
IT equipment
£
Cost
At 1 January 2025 and 31 December 2025
4,365
Depreciation and impairment
At 1 January 2025
3,509
Depreciation charged in the year
440
At 31 December 2025
3,949
Carrying amount
At 31 December 2025
416
At 31 December 2024
856
5
Investment property
2025
£
Fair value
At 1 January 2025
14,424,909
Additions
55,896
At 31 December 2025
14,480,805

The directors have reviewed the valuation of the investment properties and believe the amount stated above is a fair estimate of their market value at the balance sheet date. In valuing the properties the directors had due regard to reports prepared by qualified surveyors and general market trends. Account is also taken of factors specific to individual properties.

If investment properties were stated on an historical cost basis rather than a fair value basis, the carrying amounts would have been approximately £17,340,581 (2024: £17,284,685).

6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
47,405
89,973
Other debtors
119,640
351,577
Prepayments and accrued income
9,167
5,546
176,212
447,096
Deltawood Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
Page 9
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
85,110
6,729
Corporation tax
128,296
19,929
Other taxation and social security
22,691
70,890
Other creditors
84,159
399,748
Accruals and deferred income
47,902
155,688
368,158
652,984
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
16,763,973
16,963,973

9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,000
1,000
1,000
1,000
Deltawood Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
Page 10
10
Operating lease commitments
Lessor

At the reporting date the company had contracted with tenants for the following minimum lease payments:

2025
2024
£
£
2,333,004
3,042,292
11
Related party transactions

At the balance sheet date the company owed a total amount of £13,838,973 (202 4: £13,838,973) to its shareholders, which is included in creditors due over one year. Interest of £nil (202 4: £459,530) was charged during the year on this balance and the loan is unsecured.

At the balance sheet date, the company owed £2,9 25,000 (202 4: £3,125,000) to a company controlled by a director, which is included in creditors due in over one year. Interest of £151,339 (202 4: £178,497) has bee charged during the year and the loan is unsecured.

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