Company Registration No. 05366759 (England and Wales)
Delipod Ltd
Unaudited accounts
for the year ended 28 February 2017
Delipod Ltd
Unaudited accounts
Contents
Delipod Ltd
Company Information
for the year ended 28 February 2017
Company Number
05366759 (England and Wales)
Registered Office
18 CLARENDON COURT
SIDMOUTH ROAD
LONDON
NW2 5HB
Accountants
Newbury Hale Accountancy Services Ltd
19 Clements Road
Chorleywood
Hertfordshire
WD3 5JS
Delipod Ltd
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Delipod Ltd for the year ended 28 February 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Delipod Ltd for the year ended
28 February 2017 as set out on pages
5 -
8 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 Board of Directors of Delipod Ltd, as a body, in accordance with the terms of our engagement letter dated 21 March 2014. Our work has been undertaken solely to prepare for your approval the accounts of Delipod Ltd and state those matters that we have agreed to state to the Board of Directors of Delipod Ltd, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Delipod Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Delipod Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Delipod Ltd. You consider that Delipod Ltd 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 accounts of Delipod Ltd. 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 accounts.
Newbury Hale Accountancy Services Ltd
Chartered Accountants
19 Clements Road
Chorleywood
Hertfordshire
WD3 5JS
29 November 2017
Delipod Ltd
Statement of financial position
as at 28 February 2017
Intangible assets
1,000
1,000
Cash at bank and in hand
8,025
16
Creditors: amounts falling due within one year
(427,475)
(349,055)
Net current liabilities
(388,778)
(327,069)
Net liabilities
(386,945)
(324,137)
Called up share capital
1,000
1,000
Profit and loss account
(387,945)
(325,137)
Shareholders' funds
(386,945)
(324,137)
For the year ending 28 February 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 30 November 2017.
Peter Howson
Director
Company Registration No. 05366759
Delipod Ltd
Notes to the Accounts
for the year ended 28 February 2017
Delipod Ltd is a private company, limited by shares, registered in England and Wales, registration number 05366759. The registered office is 18 CLARENDON COURT , SIDMOUTH ROAD, LONDON, NW2 5HB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 28 February 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 March 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on cost
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Website costs which have been capitalised will be amortised over 5 years once the website is available for use.
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
Delipod Ltd
Notes to the Accounts
for the year ended 28 February 2017
Expenditure on research and development is written off in the year in which it is incurred.
4
Intangible fixed assets
Other
The intangible fixed asset is in respect of the costs of developing a website for the business. This website will have the facility whereby orders can be placed and therefore generate sales. It is expected that the level of these sales will exceed the costs associated with developing the website.
The website is in the process of being tested and the asset will be amortised over its useful economic life once the website is available for use.
5
Tangible fixed assets
Plant & machinery
At 28 February 2017
26,791
At 28 February 2017
25,958
Finished goods
25,660
18,203
Delipod Ltd
Notes to the Accounts
for the year ended 28 February 2017
Amounts due from group undertakings etc.
3,344
3,231
8
Creditors: amounts falling due within one year
2017
2016
Taxes and social security
1,770
-
Other creditors
287,603
226,780
Loans from directors
123,035
122,275
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
10
Operating lease commitments
2017
2016
At 28 February 2017 the company has commitments under non-cancellable operating leases as follows:
Operating leases expiring:
More than five years
121,500
-
11
Transactions with related parties
Loan to parent - How-So Holdings Limited: £3,344 (2016: £3,231)
12
Average number of employees
During the year the average number of employees was 1 (2016: 1).
