Delizique Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC213612 (Scotland)

Financial Statements For The Year Ended 31 May 2021

for

Delizique Ltd.

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Ms M Taylor

Ms J McGregor

SECRETARY:

Ms M Taylor

REGISTERED OFFICE:

c/o Robb Ferguson

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

REGISTERED NUMBER:

SC213612 (Scotland)

ACCOUNTANTS:

Robb Ferguson Chartered Accountants

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

FIXED ASSETS

Tangible assets

4

981,106

982,989

CURRENT ASSETS

Stocks

25,000

10,000

Debtors

17,944

25,572

Cash at bank and in hand

41,101

85,535

84,045

121,107

CREDITORS

Amounts falling due within one year

334,337

332,710

NET CURRENT LIABILITIES

(250,292

)

(211,603

)

TOTAL ASSETS LESS CURRENT LIABILITIES

730,814

771,386

CREDITORS

Amounts falling due after more than one year

5

(522,771

)

(596,725

)

PROVISIONS FOR LIABILITIES

(42,275

)

(13,425

)

NET ASSETS

165,768

161,236

CAPITAL AND RESERVES

Called up share capital

1,002

1,002

Retained earnings

164,766

160,234

SHAREHOLDERS' FUNDS

165,768

161,236

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2021 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 31 May 2021 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 February 2022 and were signed on its behalf by:

Ms M Taylor - Director

1.	STATUTORY INFORMATION

Delizique Ltd. 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents net invoiced sales of goods & services, excluding value added tax. Turnover from the sale of goods & services are recognised when the goods & services are delivered to the customer.

Tangible fixed assets

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

Freehold property

-

2% on cost

Fixed plant and equipment

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial instruments are recognised at amortised cost, with changes recognised in statement of comprehensive income.

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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Current or deferred taxation assets and liabilities are not discounted. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 the statement of other comprehensive income in the period to which they relate.

Hire purchase and leasing agreements

Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial position. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the statement of other comprehensive income over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to statement of other comprehensive income on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2020 - 39 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2020

1,397,015

Additions

48,658

At 31 May 2021

1,445,673

DEPRECIATION

At 1 June 2020

414,026

Charge for year

50,541

At 31 May 2021

464,567

NET BOOK VALUE

At 31 May 2021

981,106

At 31 May 2020

982,989

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2021

2020

£

£

Repayable by instalments

Bank loans more 5 yr

297,249

366,887

6.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2021

2020

£

£

Net obligations repayable:

Within one year

9,769

38,537

Between one and five years

-

6,857

9,769

45,394

Non-cancellable

operating leases

2021

2020

£

£

Within one year

20,196

35,117

Between one and five years

29,179

37,704

In more than five years

60,000

69,000

109,375

141,821

7.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank loans

683,416

645,613

The Allied Irish Bank hold a Bond and Floating charge over the whole property of the company and a standard security over 66 - 68 Hyndland Street and 70-72 Hyndland Street.

The security is in respect of a bank term loan.