Company Registration No. 03890699 (England and Wales)
DELTEC INDUSTRIES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2015
DELTEC INDUSTRIES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 5
DELTEC INDUSTRIES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 1 -
2015
2014
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
2
219,296
228,560
Current assets
Stocks
612,799
567,351
Debtors
271,816
357,004
Cash at bank and in hand
30,690
53,894
915,305
978,249
Creditors: amounts falling due within one year
3
(418,557)
(504,656)
Net current assets
496,748
473,593
Total assets less current liabilities
716,044
702,153
Creditors: amounts falling due after more than one year
4
(29,638)
(52,575)
Provisions for liabilities
(34,770)
(34,858)
651,636
614,720
Capital and reserves
Called up share capital
5
100
100
Profit and loss account
651,536
614,620
Shareholders' funds
651,636
614,720
DELTEC INDUSTRIES LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2015
31 December 2015
- 2 -
For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 3 August 2016
Mrs K McGregor
Director
Company Registration No. 03890699
DELTEC INDUSTRIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The company finances its operations by means of a bank overdraft facility and factoring facility. The directors are not aware of any reason why these facilities will not be maintained at their current level. As a result the directors have continued to adopt the going concern basis in preparing the financial statements.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Leasehold
15% Reducing Balance
Plant and machinery
15% Reducing Balance
Fixtures, fittings & equipment
15% Reducing Balance
Motor vehicles
25% Reducing Balance
DELTEC INDUSTRIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 January 2015
152,500
562,016
714,516
Additions
-
27,600
27,600
At 31 December 2015
152,500
589,616
742,116
Depreciation
At 1 January 2015
152,500
333,456
485,956
Charge for the year
-
36,864
36,864
At 31 December 2015
152,500
370,320
522,820
Net book value
At 31 December 2015
-
219,296
219,296
At 31 December 2014
-
228,560
228,560
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £197,806 (2014 - £258,670).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £29,638 (2014 - £52,575).
5
Share capital
2015
2014
£
£
Allotted, called up and fully paid
50 A Ordinary shares of £1 each
50
50
50 B Ordinary shares of £1 each
50
50
100
100
6
Related party relationships and transactions
DELTEC INDUSTRIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
6
Related party relationships and transactions
(Continued)
- 5 -
Loans from directors
Transactions in relation to loans from directors during the year are outlined in the table below:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
Directors' joint loan
-
110,011
11,496
-
34,760
86,747
110,011
11,496
-
34,760
86,747
Other transactions
The company paid rent of £89,000 for the year (2014: £69,287) to the directors, A Dell and K McGregor.
2015-12-31
2015-01-01
false
true
true
true
true
false
tmp7431.html
2016-08-30
03890699
2015-01-01
2015-12-31
03890699
2015-12-31
03890699
2014-12-31
03890699
2014-12-31
03890699
uk-bus:Director2
2015-01-01
2015-12-31
03890699
uk-gaap:LandBuildings
uk-gaap:LeasedTangibleFixedAssets
2015-01-01
2015-12-31
03890699
uk-gaap:PlantMachinery
2015-01-01
2015-12-31
03890699
uk-gaap:FixturesFittingsToolsEquipment
2015-01-01
2015-12-31
03890699
uk-gaap:MotorVehicles
2015-01-01
2015-12-31
03890699
uk-bus:OrdinaryShareClass1
2015-01-01
2015-12-31
03890699
uk-bus:OrdinaryShareClass2
2015-01-01
2015-12-31
03890699
uk-bus:OrdinaryShareClass1
2015-12-31
03890699
uk-bus:OrdinaryShareClass2
2015-12-31
03890699
uk-bus:OrdinaryShareClass1
2014-12-31
03890699
uk-bus:OrdinaryShareClass2
2014-12-31
xbrli:pure
xbrli:shares
iso4217:GBP