Delizique Ltd. - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC213612 (Scotland)

Financial Statements For The Year Ended 31 May 2023

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

511,019

943,547

CURRENT ASSETS

Stocks

25,000

25,000

Debtors

49,978

58,711

Cash at bank and in hand

6,258

24,635

81,236

108,346

CREDITORS

Amounts falling due within one year

180,586

266,997

NET CURRENT LIABILITIES

(99,350

)

(158,651

)

TOTAL ASSETS LESS CURRENT LIABILITIES

411,669

784,896

CREDITORS

Amounts falling due after more than one year

5

(226,319

)

(558,919

)

PROVISIONS FOR LIABILITIES

(31,383

)

(38,490

)

NET ASSETS

153,967

187,487

CAPITAL AND RESERVES

Called up share capital

1,002

1,002

Retained earnings

152,965

186,485

SHAREHOLDERS' FUNDS

153,967

187,487

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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 2023 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 11 January 2024 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

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 25 (2022 - 27 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2022

1,457,443

Disposals

(486,755

)

At 31 May 2023

970,688

DEPRECIATION

At 1 June 2022

513,896

Charge for year

35,135

Eliminated on disposal

(89,362

)

At 31 May 2023

459,669

NET BOOK VALUE

At 31 May 2023

511,019

At 31 May 2022

943,547

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2023

2022

£

£

Repayable by instalments

Bank loans more 5 yr

23,613

262,997

6.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2023

2022

£

£

Net obligations repayable:

Within one year

912

912

Between one and five years

912

1,824

1,824

2,736

Non-cancellable

operating leases

2023

2022

£

£

Within one year

9,450

18,081

Between one and five years

27,000

27,000

In more than five years

42,000

51,000

78,450

96,081

7.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Bank loans

280,085

632,433

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.