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 2020

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

BUSINESS ADDRESS:

23 Austin Friars

London

EC2N 2QP

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

15,852

9,195

CURRENT ASSETS

Debtors

5

443,389

365,436

Cash at bank

510,010

171,686

953,399

537,122

CREDITORS

Amounts falling due within one year

6

(435,121

)

(268,858

)

NET CURRENT ASSETS

518,278

268,264

TOTAL ASSETS LESS CURRENT LIABILITIES

534,130

277,459

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

534,128

277,457

SHAREHOLDERS' FUNDS

534,130

277,459

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 21 April 2021 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.

The company's principal activities and nature of its operations are disclosed in the Directors' Report.

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 14 (2019 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2020

3,293

29,645

21,339

54,277

Additions

3,210

-

14,308

17,518

Disposals

(541

)

(29,645

)

(9,637

)

(39,823

)

At 31 December 2020

5,962

-

26,010

31,972

DEPRECIATION

At 1 January 2020

620

29,645

14,817

45,082

Charge for year

1,933

-

8,928

10,861

Eliminated on disposal

(541

)

(29,645

)

(9,637

)

(39,823

)

At 31 December 2020

2,012

-

14,108

16,120

NET BOOK VALUE

At 31 December 2020

3,950

-

11,902

15,852

At 31 December 2019

2,673

-

6,522

9,195

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

404,693

339,767

Other debtors

15,114

7,510

Staff loans

1,605

1,560

Prepayments and accrued income

21,977

16,599

443,389

365,436

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

21,180

85,307

Tax

59,607

22,418

Social security and other taxes

41,568

39,579

VAT

133,825

78,804

Other creditors

20,030

9,805

Net wages control account

-

242

Accruals and deferred income

158,911

32,703

435,121

268,858

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2020

2019

£

£

Within one year

3,764

49,761

Between one and five years

-

1,378

3,764

51,139

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

2

Ordinary

£1

-

-

100

Ordinary

£0.02

2

2

2

2

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.

No purchases (2019: £40,277) were invoiced by Delta Consulting Group Inc of which £Nil (2019: £37,408) is included within trade creditors as at 31 December 2020. Sales of £932,183 (2019: £204,722) were invoiced to Delta Consulting Group Inc of which £86,368 (2019: £469) is included within trade debtors as at 31 December 2020.