Deltatruck Spares Limited
Deltatruck Spares Limited
Registered number: 03067479
Unaudited Financial Statements
For The Year Ended
31 December 2022
Adbell International Limited
Deltatruck Spares Limited
Unaudited Financial Statements
For The Year Ended
31 December 2022
Unaudited Financial Statements
Contents | |
Page | |
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Company Information | 1 |
Accountant's Report | 2 |
Balance Sheet | 3—4 |
Notes to the Financial Statements | 5—7 |
Deltatruck Spares Limited
Company Information
For The Year Ended
31 December 2022
Company Information
Director |
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Company Number |
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Registered Office | Birchin Court, |
20 birchin Lane, | |
London | |
EC3V 9DJ | |
Accountants |
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20 Birchin Lane | |
London | |
EC3V 9DJ | |
Deltatruck Spares Limited
Accountant's Report
For The Year Ended
31 December 2022
Accountant's Report
Chartered Accountant's report to the directors on the preparation of the unaudited statutory accounts of
Deltatruck Spares Limited
for the year ended 31 December 2022
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of
Deltatruck Spares Limited
for the year ended 31 December 2022 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 to us.
As a practising member 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 http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of
Deltatruck Spares Limited
, as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of
Deltatruck Spares Limited
and state those matters that we have agreed to state to the directors of
Deltatruck Spares Limited
, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
Deltatruck Spares Limited
and its directors, as a body, for our work or for this report.
It is your duty to ensure that
Deltatruck Spares Limited
has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of
Deltatruck Spares Limited
. You consider that
Deltatruck Spares Limited
is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of
Deltatruck Spares 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 financial statements.
Signed |
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Birchin Court
20 Birchin Lane
London
EC3V 9DJ
Deltatruck Spares Limited
Balance Sheet
As at
31 December 2022
Balance Sheet
Registered number:
03067479
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges their 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.
2022 | 2021 | ||||
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Notes | € | € | € | € | |
FIXED ASSETS | |||||
Investments | 4 |
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CURRENT ASSETS | |||||
Debtors | 5 |
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Creditors: Amounts Falling Due Within One Year | 6 |
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( |
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NET CURRENT ASSETS (LIABILITIES) |
( |
( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
( |
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NET LIABILITIES |
( |
( |
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CAPITAL AND RESERVES | |||||
Called up share capital | 7 |
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Profit and Loss Account |
( |
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SHAREHOLDERS' FUNDS | (33,526) | (31,231) | |||
Deltatruck Spares Limited
Balance Sheet (continued)
As at
31 December 2022
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Director
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The notes on pages 5 to 7 form part of these financial statements.
Deltatruck Spares Limited
Notes to the Financial Statements
For The Year Ended
31 December 2022
Notes to the Financial Statements
1.
General Information
Deltatruck Spares Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
03067479
. The registered office is Birchin Court,, 20 birchin Lane,, London, EC3V 9DJ.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006
2.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3.
Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into EURO at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into EURO at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.4.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Deltatruck Spares Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2022
2.5.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group
companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2.6.
Going concern
The financial statements have been prepared on a going concern basis. The company has obtained undertakingsfrom its shareholders that they will continue to support the company for the foreseeable future and meet all thirdparty liabilities as they fall due. Given this undertaking, the directors consider it appropriate to adopt a goingconcern basis in preparing the financial statements.
3.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 1 (2021: 1)
Deltatruck Spares Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2022
4.
Investments
Associates | |
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Cost | |
As at
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As at
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Provision | |
As at
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As at
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Net Book Value | |
As at
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As at
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The company has a 10% interest in a partnership, namely the Deltatruck Spares Partnership. The share of profit
in the partnership for the year amounts to EUR 284 (2021 EUR 150). The share of net liabilities in the partnershipamounts to EUR 33,529 (2021: EUR 31,234).
5.
Debtors
2022 | 2021 | ||
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€ | € | ||
Due within one year | |||
Called up share capital not paid |
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6.
Creditors: Amounts Falling Due Within One Year
2022 | 2021 | ||
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€ | € | ||
Amounts owed to other participating interests |
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8.
Ultimate Controlling Party
The company's ultimate controlling party is
Urs Langen
by virtue of his ownership of 100% of the issued share capital in the company.