Delphian Ballistics Limited - Accounts to registrar (filleted) - small 18.2

Delphian Ballistics Limited - Accounts to registrar (filleted) - small 18.2

DELPHIAN BALLISTICS LIMITED - Company Information

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REGISTERED NUMBER: SC281437 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2019

for

DELPHIAN BALLISTICS LIMITED
DELPHIAN BALLISTICS LIMITED (REGISTERED NUMBER: SC281437)

Contents of the Financial Statements
for the Year Ended 31 December 2019










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DELPHIAN BALLISTICS LIMITED

Company Information
for the Year Ended 31 December 2019







DIRECTORS: S C McLeod
D MacNiven
D Donald
K Dunbar
J P Teigland





REGISTERED OFFICE: 5 Carden Place
Aberdeen
AB10 1UT





REGISTERED NUMBER: SC281437 (Scotland)





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DELPHIAN BALLISTICS LIMITED (REGISTERED NUMBER: SC281437)

Balance Sheet
31 December 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 401,500 401,500
401,500 401,500

CURRENT ASSETS
Debtors 6 9,366 9,606
Cash at bank and in hand 74,851 135,450
84,217 145,056
CREDITORS
Amounts falling due within one year 7 210,559 153,875
NET CURRENT LIABILITIES (126,342 ) (8,819 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
275,158
392,681

CAPITAL AND RESERVES
Called up share capital 2,805 2,805
Share premium 3,584,709 3,584,709
Retained earnings (3,312,356 ) (3,194,833 )
SHAREHOLDERS' FUNDS 275,158 392,681

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The notes form part of these financial statements

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DELPHIAN BALLISTICS LIMITED (REGISTERED NUMBER: SC281437)

Balance Sheet - continued
31 December 2019


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 December 2020 and were signed on its behalf by:




S C McLeod - Director



D Donald - Director


The notes form part of these financial statements

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DELPHIAN BALLISTICS LIMITED (REGISTERED NUMBER: SC281437)

Notes to the Financial Statements
for the Year Ended 31 December 2019


1. STATUTORY INFORMATION

Delphian Ballistics Limited is a private company, limited by shares , registered in Scotland. 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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DELPHIAN BALLISTICS LIMITED (REGISTERED NUMBER: SC281437)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2019


2. ACCOUNTING POLICIES - continued

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 1 (2018 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2019
and 31 December 2019 15,569
DEPRECIATION
At 1 January 2019
and 31 December 2019 15,569
NET BOOK VALUE
At 31 December 2019 -

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2019
and 31 December 2019 401,500
NET BOOK VALUE
At 31 December 2019 401,500
At 31 December 2018 401,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Amounts owed by group undertakings 8,476 8,476
Other debtors 890 1,130
9,366 9,606

5
DELPHIAN BALLISTICS LIMITED (REGISTERED NUMBER: SC281437)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2019


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade creditors 722 (1,052 )
Taxation and social security 61,161 4,991
Other creditors 148,676 149,936
210,559 153,875

8. ULTIMATE CONTROLLING PARTY

The controlling party is the directors.

9. SHARE-BASED PAYMENT TRANSACTIONS

The company has an EMI option scheme for certain employees. Options are exercisable at a price equal to average market price, as agreed with HM Revenue and Customs, of the company's shares on the date of the grant. The vesting period is over ten years, with restrictions in place as to the number of options that could be exercised until certain performance criteria have been achieved.

If the options remain unexercised after a period of ten years from the date of the grant, the options expire. Options are forfeited if the employee leaves the company before the options vest.

10. GOING CONCERN

These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company.

11. REDEEMABLE SHARES

Included within share capital are redeemable B Ordinary shares with an aggregate nominal value of £600. The shares are redeemable 12 months after issue or if there is a sale of more than 50% of the Company's issued share capital or of the whole of the Company's business as a going concern and only if there Company has sufficient distributable reserves at the Company's sole election.

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