Delta Consulting Group Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 04069135 (England and Wales)

Financial Statements

for the Year Ended 31 December 2022

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

30,145

23,903

CURRENT ASSETS

Debtors

5

1,327,235

653,182

Cash at bank

1,195,676

510,887

2,522,911

1,164,069

CREDITORS

Amounts falling due within one year

6

(774,732

)

(430,968

)

NET CURRENT ASSETS

1,748,179

733,101

TOTAL ASSETS LESS CURRENT LIABILITIES

1,778,324

757,004

CREDITORS

Amounts falling due after more than one year

7

(459,755

)

-

NET ASSETS

1,318,569

757,004

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

1,318,567

757,002

SHAREHOLDERS' FUNDS

1,318,569

757,004

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 5 May 2023 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 was that of quantity surveying.

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

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

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.

Short leasehold

-

Straight line over the life of the lease

Improvements to property

-

Straight line over the life of the lease

Plant and machinery

-

33% on cost

Fixtures and fittings

-

33% 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 20 (2021 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Short

to

Plant and

leasehold

property

machinery

£

£

£

COST

At 1 January 2022

9,062

4,322

1,835

Additions

-

-

4,462

At 31 December 2022

9,062

4,322

6,297

DEPRECIATION

At 1 January 2022

1,133

540

51

Charge for year

2,265

1,081

1,986

At 31 December 2022

3,398

1,621

2,037

NET BOOK VALUE

At 31 December 2022

5,664

2,701

4,260

At 31 December 2021

7,929

3,782

1,784

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2022

7,059

33,023

55,301

Additions

555

20,576

25,593

At 31 December 2022

7,614

53,599

80,894

DEPRECIATION

At 1 January 2022

4,182

25,492

31,398

Charge for year

2,263

11,756

19,351

At 31 December 2022

6,445

37,248

50,749

NET BOOK VALUE

At 31 December 2022

1,169

16,351

30,145

At 31 December 2021

2,877

7,531

23,903

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

1,235,331

559,778

Other debtors

34,048

34,048

Staff loans

4,653

1,647

Prepayments and accrued income

53,203

57,709

1,327,235

653,182

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

114,573

33,437

Tax

134,391

50,537

Social security and other taxes

77,238

67,780

VAT

148,829

109,870

Other creditors

24,428

11,538

Accruals and deferred income

275,273

157,806

774,732

430,968

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Amounts owed to group undertakings

459,755

-

8.	LEASING AGREEMENTS

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

2022

2021

£

£

Within one year

126,840

126,840

Between one and five years

4,518

4,518

131,358

131,358

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

100

Ordinary

£0.02

2

2

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

The Report of the Auditors was unqualified.

Matthew Bracher FCA (Senior Statutory Auditor)

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

11.	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.

Sales of £392,885 (2021: £234,891) were invoiced to Delta Consulting Group Inc. of which £11,959 (2021: £27,507) is included within trade debtors as at 31 December 2022.

During the year Delta Consulting Group Inc., the company's parent entity, provided a loan of £459,755. This loan is interest free and is due for repayment in March 2024.