Deltaglobe Limited - Abbreviated accounts 16.1
Deltaglobe Limited - Abbreviated accounts 16.1
| REGISTERED NUMBER: |
| DELTAGLOBE LIMITED |
| ABBREVIATED UNAUDITED ACCOUNTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2015 |
| DELTAGLOBE LIMITED (REGISTERED NUMBER: 08307303) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| Chartered Accountants' Report | 5 |
| DELTAGLOBE LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 NOVEMBER 2015 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| DELTAGLOBE LIMITED (REGISTERED NUMBER: 08307303) |
| ABBREVIATED BALANCE SHEET |
| 30 NOVEMBER 2015 |
| 2015 | 2014 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 2 |
| Investment property | 3 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Investments |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| The director acknowledges her 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 were approved by the director on |
| DELTAGLOBE LIMITED (REGISTERED NUMBER: 08307303) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2015 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention and in accordance with the |
| Financial Reporting Standard for Smaller Entities (effective April 2008). |
| Turnover |
| Turnover represents the value of recharged expenses and the sale proceeds of properties sold in the year. The |
| sale of properties is recognised upon the unconditional exchange of contracts. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
| market value is transferred to a revaluation reserve. |
| The company's property is held for long-term investment and is included in the balance sheet at the open market |
| value. The surplus on revaluation of such properties is transferred to the revaluation reserve. Depreciation is |
| not provided in respect of freehold investment property. |
| The policy represents a departure from statutory accounting principles, which require depreciation to be provided |
| on all fixed assets. The directors consider that this policy is necessary in order that the accounts may give a true |
| and fair view because current values and changes in current values are of prime importance rather than the |
| calculation of systematic annual depreciation. Depreciation is only one of many factors reflected in the valuation |
| and the amount which might otherwise have been shown cannot be separately identified or quantified. |
| Stock and work in progress |
| Stock and work in progress consists of unsold properties and furniture which are included at the lower of cost |
| and net realisable value. |
| During the year WIP has been reclassified to investment property. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| balance sheet date. |
| Investments |
| The company has entered into a joint venture arrangement with a third party to acquire an investment property. |
| Deltaglobe Limited has provided 50% of the financing, in excess of any bank finance, by means of an interest |
| free unsecured loan which will be repaid, along with any additional profit, upon the sale of the property. |
| Deltaglobe Limited will also manage the refurbishment and renovation of the investment property. |
| 2. | FIXED ASSET INVESTMENTS |
| Investments |
| other |
| than |
| loans |
| £ |
| COST |
| At 1 December 2014 |
| and 30 November 2015 | 527,681 |
| PROVISIONS |
| Reclassification | 527,681 |
| At 30 November 2015 | 527,681 |
| NET BOOK VALUE |
| At 30 November 2015 |
| At 30 November 2014 |
| DELTAGLOBE LIMITED (REGISTERED NUMBER: 08307303) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2015 |
| 3. | INVESTMENT PROPERTY |
| Total |
| £ |
| COST |
| Additions |
| Reclassification/transfer |
| At 30 November 2015 |
| NET BOOK VALUE |
| At 30 November 2015 |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2015 | 2014 |
| value: | £ | £ |
| Ordinary | 1 |
| CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| DELTAGLOBE LIMITED |
| The following reproduces the text of the report prepared for the director in respect of the company's annual |
| unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to four) |
| have been prepared. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
| financial statements of Deltaglobe Limited for the year ended 30 November 2015 which comprise the Profit and Loss |
| Account, the Balance Sheet and the related notes from the company's accounting records and from information and |
| explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
| This report is made solely to the director of Deltaglobe Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Deltaglobe Limited and state those matters that we have agreed to state to the director of Deltaglobe Limited in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report. |
| It is your duty to ensure that Deltaglobe Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Deltaglobe Limited. You consider that Deltaglobe Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Deltaglobe Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants |
| 24 August 2016 |