Delgany UK Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 09053396 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

DELGANY UK LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

N Tylliros

SECRETARY:

A Shamova

REGISTERED OFFICE:

1 Kings Avenue

London

N21 3NA

REGISTERED NUMBER:

09053396 (England and Wales)

ACCOUNTANTS:

AGK Partners

Chartered Accountants

1 Kings Avenue

London

N21 3NA

FIXED ASSETS

Intangible assets

3

26,522

30,158

Property, plant and equipment

4

714,155

298,254

Investments

5

100

-

740,777

328,412

CURRENT ASSETS

Debtors

6

720,252

179,011

Cash at bank

16,246

285,322

736,498

464,333

CREDITORS

Amounts falling due within one year

7

42,827

71,152

NET CURRENT ASSETS

693,671

393,181

TOTAL ASSETS LESS CURRENT LIABILITIES

1,434,448

721,593

CREDITORS

Amounts falling due after more than one year

8

1,897,572

726,665

NET LIABILITIES

(463,124

)

(5,072

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

(464,124

)

(6,072

)

SHAREHOLDERS' FUNDS

(463,124

)

(5,072

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the director on 27 October 2017 and were signed by:

N Tylliros - Director

1.	STATUTORY INFORMATION

Delgany UK 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis as the directors are satisfied that the

company will have adequate resources to meet its liabilities to third parties as they fall due.

Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make judgements, estimates

and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other

sources. The estimates and associated assumptions are based on historical experience and other factors that

are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting

estimates are recognised in the period in which the estimate is revised where the revision affects only that

period. or in the period of the revision and future periods where the revision affects both current and future

periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Property, plant and equipment

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful

lives.

Leasehold land and buildings - Over the period of the lease

Plant and machinery - 25% on reducing balance

Fixtures and fittings - 25% on reducing balance

The company has adopted the policy of not to depreciate the asset in the year of purchase, however full

depreciation will be provided in the year of disposal.

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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Cash and cash equivalents

Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand and short

term deposits with an original maturity date of one month.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible

preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in

profit or loss.Derivative financial instruments are initially recorded at cost and thereafter at fair value with

changes recognised in profit or loss.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

statement

of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange

ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Leasing

Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over

the period of the lease.

Group account

The company and its subsidiary comprise of a small group. The company has therefore taken advantage of the

exemption provided under the Companies Act 2006 not to prepare group financial statements and accordingly

these financial statements present information about the company as a single undertaking as the company and

its group undertaking comprise a small group.

3.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2016

37,610

Additions

3,886

At 31 December 2016

41,496

AMORTISATION

At 1 January 2016

7,452

Charge for year

7,522

At 31 December 2016

14,974

NET BOOK VALUE

At 31 December 2016

26,522

At 31 December 2015

30,158

Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years. No

depreciation is provided in the year of purchase.

4.	PROPERTY, PLANT AND EQUIPMENT

Short

Plant and

leasehold

machinery

Totals

£

£

£

COST

At 1 January 2016

27,431

272,652

300,083

Additions

-

486,807

486,807

At 31 December 2016

27,431

759,459

786,890

DEPRECIATION

At 1 January 2016

1,829

-

1,829

Charge for year

2,743

68,163

70,906

At 31 December 2016

4,572

68,163

72,735

NET BOOK VALUE

At 31 December 2016

22,859

691,296

714,155

At 31 December 2015

25,602

272,652

298,254

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

100

At 31 December 2016

100

NET BOOK VALUE

At 31 December 2016

100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Amounts owed by group undertakings

514,320

-

Other debtors

205,932

179,011

720,252

179,011

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

32,640

69,830

Other creditors

10,187

1,322

42,827

71,152

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Other creditors

1,897,572

726,665

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

As at year end, £1,897,572 (2015: £726,665) was owed to a connected company. The loan is insecured and

bears interest of 4%.

10.	TRANSITION TO FRS102

The company transitioned to FRS102 from previously extant UK GAAP as at 1 January 2015.

As there is no impact of the transition on the financial statements of the company, the reconciliation of equity

and profit & loss is not considered necessary.