Delta Consulting Group Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04069135 (England and Wales)

Financial Statements

for the Year Ended 31 December 2019

for

DELTA CONSULTING GROUP LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S P Lynch

J M Dungan

J Fuchs

REGISTERED OFFICE:

Bath House

6-8 Bath Street

Redcliffe

Bristol

BS1 6HL

REGISTERED NUMBER:

04069135 (England and Wales)

AUDITORS:

Haines Watts Partnership (Bristol) Limited

Bath House

6-8 Bath Street

Bristol

BS1 6HL

FIXED ASSETS

Tangible assets

4

9,195

16,548

CURRENT ASSETS

Debtors

5

365,436

296,137

Cash at bank

171,686

204,532

537,122

500,669

CREDITORS

Amounts falling due within one year

6

(268,858

)

(160,498

)

NET CURRENT ASSETS

268,264

340,171

TOTAL ASSETS LESS CURRENT LIABILITIES

277,459

356,719

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

277,457

356,717

SHAREHOLDERS' FUNDS

277,459

356,719

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 17 December 2020 and were signed on its behalf by:

S P Lynch - Director

1.	COMPANY INFORMATION

Delta Consulting Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

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 £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. In particular, in response to the COVID-19 pandemic, the Directors have tested their cash flow analysis to take into account the impact on their business of possible scenarios brought on by the impact of COVID-19, alongside the measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

33% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

50% on cost

Cash and cash equivalents

Cash and cash equivalents 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.

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 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, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities, including trade and other creditors and amounts due to group undertakings 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 payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2018 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2019

540

63,795

12,918

77,253

Additions

2,753

-

8,421

11,174

Disposals

-

(34,150

)

-

(34,150

)

At 31 December 2019

3,293

29,645

21,339

54,277

DEPRECIATION

At 1 January 2019

210

47,846

12,649

60,705

Charge for year

410

10,969

2,168

13,547

Eliminated on disposal

-

(29,170

)

-

(29,170

)

At 31 December 2019

620

29,645

14,817

45,082

NET BOOK VALUE

At 31 December 2019

2,673

-

6,522

9,195

At 31 December 2018

330

15,949

269

16,548

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

339,767

278,984

Other debtors

7,510

7,107

Staff loans

1,560

1,512

Prepayments and accrued income

16,599

8,534

365,436

296,137

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Hire purchase contracts (see note 7)

-

569

Trade creditors

85,307

37,068

Tax

22,418

19,607

Social security and other taxes

39,579

26,197

VAT

78,804

68,837

Other creditors

9,805

604

Net wages control account

242

-

Accruals and deferred income

32,703

7,616

268,858

160,498

7.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2019

2018

£

£

Net obligations repayable:

Within one year

-

569

Non-cancellable

operating leases

2019

2018

£

£

Within one year

49,761

22,800

Between one and five years

1,378

-

51,139

22,800

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

2

Ordinary

£1.00

-

2

100

Ordinary

£0.02

2

-

2

2

On 7 March 2019, the company sub-divide all the share capital by increasing the number of shares to 100 at nominal value of £0.02 for each share.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ian Bascombe FCA (Senior Statutory Auditor)

for and on behalf of Haines Watts Partnership (Bristol) Limited

10.	RELATED PARTY DISCLOSURES

During the year, the company entered into transaction with Delta Consulting Group Inc., the company's parent entity. These transactions were all on an arm's length basis under normal commercial conditions.

Purchases of £40,277 were invoiced by Delta Consulting Group Inc of which £37,408 is included in trade creditors as at 31 December 2019. Sales of £204,722 were invoiced to Delta Consulting Group Inc of which £469 is included within trade debtors as at 31 December 2019.