Delcrede Limited - Accounts to registrar (filleted) - small 23.2.5

Delcrede Limited - Accounts to registrar (filleted) - small 23.2.5


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REGISTERED NUMBER: 04451473 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Delcrede Limited

Delcrede Limited (Registered number: 04451473)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Delcrede Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: G E Miller
Mrs C S Miller





SECRETARY: NB Consulting Limited





REGISTERED OFFICE: Springfield
Angel Lane
Bittersley
Ludlow
Shropshire
SY8 3HZ





REGISTERED NUMBER: 04451473 (England and Wales)





ACCOUNTANTS: NB Consulting Limited
2 Foxglove Close
Buckingham
MK18 1FU

Delcrede Limited (Registered number: 04451473)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,171 7,981
Investment property 5 770,000 770,000
777,171 777,981

CURRENT ASSETS
Cash at bank 6,342 5,781

CREDITORS
Amounts falling due within one year 6 14,181 11,846
NET CURRENT LIABILITIES (7,839 ) (6,065 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

769,332

771,916

CREDITORS
Amounts falling due after more than one
year

7

(320,000

)

(333,000

)

PROVISIONS FOR LIABILITIES 8 (46,000 ) (46,000 )
NET ASSETS 403,332 392,916

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 9 250,933 250,933
Retained earnings 9 152,397 141,981
SHAREHOLDERS' FUNDS 403,332 392,916

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.

Delcrede Limited (Registered number: 04451473)

Balance Sheet - continued
31 May 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 February 2024 and were signed on its behalf by:





G E Miller - Director


Delcrede Limited (Registered number: 04451473)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Delcrede 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 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Delcrede Limited (Registered number: 04451473)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 14,284
Additions 581
At 31 May 2023 14,865
DEPRECIATION
At 1 June 2022 6,303
Charge for year 1,391
At 31 May 2023 7,694
NET BOOK VALUE
At 31 May 2023 7,171
At 31 May 2022 7,981

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022
and 31 May 2023 770,000
NET BOOK VALUE
At 31 May 2023 770,000
At 31 May 2022 770,000

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2016 158,933
Valuation in 2017 10,000
Valuation in 2021 12,000
Valuation in 2022 70,000
Cost 519,067
770,000

If the investment properties had not been revalued they would have been included at the following historical cost:

31.5.23 31.5.22
£    £   
Cost 519,067 519,067

The investment properties have been valued by the directors at fair market value based on the value of similar properties in the locality.

Delcrede Limited (Registered number: 04451473)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Taxation and social security 2,638 3,474
Other creditors 11,543 8,372
14,181 11,846

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Other creditors 320,000 333,000

8. PROVISIONS FOR LIABILITIES
31.5.23 31.5.22
£    £   
Deferred tax 46,000 46,000

Deferred
tax
£   
Balance at 1 June 2022 46,000
Balance at 31 May 2023 46,000

9. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 June 2022 141,981 250,933 392,914
Profit for the year 10,416 10,416
At 31 May 2023 152,397 250,933 403,330