DELYN_HOLDINGS_LIMITED - Accounts

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

For the financial year ended 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

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

Delyn Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1 Willow Way, Duffryn Business Park, Ystrad Mynach, Hengoed, Mid Glamorgan, CF82 7TR.

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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Basic financial instruments are recognised at amortised costs and comprise of intercompany creditor balances.

The company has no derivative financial instruments.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

Preparation of consolidated financial statements

The financial statements contain information about Delyn Holdings Limited as an individual company and do not contain the consolidated financial information as the parent of a group. The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Investment in subsidiary company

At each balance sheet date non-financial assets not carried at fair value are assessed to determine whether there is an indication that the asset (or assets cash generating unit) may be impaired. If there is such an indication the recoverable amount of the asset (or assets cash generating unit) is compared to the carrying amount of the asset (or assets cash generating unit).

The recoverable amount of the asset (or assets cash generating unit) is the higher of fair value less costs to sell or value in use. Value in use is defined as the present value of future cashflows before interest and tax obtainable as a result of the assets (or assets cash generating unit) continued use. These cashflows are discounted using a pre-tax discount rate that represents the current market risk-free rate and the risks inherent in the asset.

If the recoverable amount of the assets (or assets cash generating unit) is estimated to be lower than the carrying amount, the carrying amount is reduced to its recoverable amount. An impairment loss is recognised in the profit and loss account.

If an impairment loss is subsequently reversed, the carrying amount of the asset (or assets cash generating unit) is increased to the revised estimate of its recoverable amount, but only to the extent that the revised carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised in prior periods. A reversal of an impairment loss is recognised in the income statement.

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

Details of the company's subsidiaries at 31 March 2020 are as follows:

On the 12 June 2017 a fixed and floating charge over all assets was created by the company for securing all monies due or to become due from the company to HSBC Bank Plc on any account whatsoever.

The bank also hold a multilateral guarantee across the debts of Delyn Holdings Limited via subsidiary company Delyn Packaging Limited.