Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falseNo description of principal activity87truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04065411 2022-04-01 2023-03-31 04065411 2021-04-01 2022-03-31 04065411 2023-03-31 04065411 2022-03-31 04065411 2021-04-01 04065411 c:Director1 2022-04-01 2023-03-31 04065411 c:Director3 2022-04-01 2023-03-31 04065411 c:RegisteredOffice 2022-04-01 2023-03-31 04065411 d:PlantMachinery 2022-04-01 2023-03-31 04065411 d:PlantMachinery 2023-03-31 04065411 d:PlantMachinery 2022-03-31 04065411 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04065411 d:MotorVehicles 2022-04-01 2023-03-31 04065411 d:MotorVehicles 2023-03-31 04065411 d:MotorVehicles 2022-03-31 04065411 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04065411 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04065411 d:CurrentFinancialInstruments 2023-03-31 04065411 d:CurrentFinancialInstruments 2022-03-31 04065411 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04065411 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 04065411 d:ShareCapital 2023-03-31 04065411 d:ShareCapital 2022-03-31 04065411 d:RetainedEarningsAccumulatedLosses 2023-03-31 04065411 d:RetainedEarningsAccumulatedLosses 2022-03-31 04065411 c:FRS102 2022-04-01 2023-03-31 04065411 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 04065411 c:FullAccounts 2022-04-01 2023-03-31 04065411 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04065411 d:PlantEquipmentOtherAssetsUnderOperatingLeases 2023-03-31 04065411 d:PlantEquipmentOtherAssetsUnderOperatingLeases 2022-03-31 04065411 d:PlantEquipmentOtherAssetsUnderOperatingLeases d:WithinOneYear 2023-03-31 04065411 d:PlantEquipmentOtherAssetsUnderOperatingLeases d:WithinOneYear 2022-03-31 04065411 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 04065411 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 04065411 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 04065411 d:TaxLossesCarry-forwardsDeferredTax 2022-03-31 04065411 2 2022-04-01 2023-03-31 04065411 e:PoundSterling 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 04065411









DOLPHIN MEDIA & DESIGN LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
DOLPHIN MEDIA & DESIGN LIMITED
 
 
COMPANY INFORMATION


Directors
MD Dolphin 
R Comlay 




Registered number
04065411



Registered office
Unit 50, Camp Hill Industrial Estate
John Kempe Way

Highgate

Birmingham

West Midlands

B12 0HU





 
DOLPHIN MEDIA & DESIGN LIMITED
REGISTERED NUMBER: 04065411

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
61,292
26,823

  
61,292
26,823

Current assets
  

Stocks
 5 
158,022
194,233

Debtors: amounts falling due within one year
 6 
514,681
504,209

Cash at bank and in hand
 7 
157,822
294,956

  
830,525
993,398

Creditors: amounts falling due within one year
 8 
(536,372)
(689,714)

Net current assets
  
 
 
294,153
 
 
303,684

Total assets less current liabilities
  
355,445
330,507

Provisions for liabilities
  

Deferred tax
 9 
(8,000)
(5,200)

  
 
 
(8,000)
 
 
(5,200)

Net assets
  
347,445
325,307


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
347,345
325,207

  
347,445
325,307


Page 1

 
DOLPHIN MEDIA & DESIGN LIMITED
REGISTERED NUMBER: 04065411
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




MD Dolphin
Director

Date: 30 October 2023

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
DOLPHIN MEDIA & DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Dolphin Media & Design Limited (the company) is a limited liability company incorporated and domiciled in the United Kingdom. The address of its registered office is disclosed on the company information page.
The principal activity of the company is the design, supply and installation of audio visual media products and solutions.
The financial statements are prepared in Sterling (£) which is the functional currency of the company. The financial statements are for the year ended 31 March 2023 (2022: year ended 31 March 2022).
The financial statements have been prepared on a going concern basis under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:

2.Accounting policies

 
2.1

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
DOLPHIN MEDIA & DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.2

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant & machinery
-
33%
Motor vehicles
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.3

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loan to related parties and investments in ordinary shares.

Page 4

 
DOLPHIN MEDIA & DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.9

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

Page 5

 
DOLPHIN MEDIA & DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.13

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2022 - 7).

Page 6

 
DOLPHIN MEDIA & DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Plant & machinery
Motor vehicles
Total

£
£
£



Cost or valuation


At 1 April 2022
83,294
33,117
116,411


Additions
14,725
52,158
66,883


Disposals
-
(33,117)
(33,117)



At 31 March 2023

98,019
52,158
150,177



Depreciation


At 1 April 2022
75,606
13,982
89,588


Charge for the year on owned assets
7,720
12,446
20,166


Disposals
-
(20,869)
(20,869)



At 31 March 2023

83,326
5,559
88,885



Net book value



At 31 March 2023
14,693
46,599
61,292



At 31 March 2022
7,688
19,135
26,823


5.


Stocks

2023
2022
£
£

Work in progress (goods to be sold)
57,290
110,641

Finished goods and goods for resale
100,732
83,592

158,022
194,233


Page 7

 
DOLPHIN MEDIA & DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Debtors

2023
2022
£
£


Trade debtors
435,533
432,833

Other debtors
30,039
35,814

Prepayments and accrued income
49,109
35,562

514,681
504,209


Other debtors relates to VAT repayable.


7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
157,822
294,956

157,822
294,956



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
399,630
495,054

Corporation tax
-
10,550

Other taxation and social security
6,473
10,817

Other creditors
8,560
8,196

Accruals and deferred income
121,709
165,097

536,372
689,714


Deferred income amounts to £42,928 (2022: £97,058).

Page 8

 
DOLPHIN MEDIA & DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Deferred taxation




2023
2022


£

£






At beginning of year
(5,200)
(2,800)


Credited/(charged) to profit or loss
(2,800)
(2,400)



At end of year
(8,000)
(5,200)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(11,650)
(5,200)

Tax losses carried forward
3,650
-

(8,000)
(5,200)


10.


Pension commitments

The Company operates defined contribution pension schemes. The assets of the schemes are held separately from those of the Company in independently administered funds. The pension cost charge represents contributions payable by the Company to the funds and amounted to £7,318 (2022: £8,335). Contributions totalling £Nil (2022: £Nil) were payable to the funds at the balance sheet date and are included in creditors.


11.


Commitments under operating leases

At 31 March 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


2023
2022

£
£


Not later than 1 year
7,612
7,612

7,612
7,612

Page 9

 
DOLPHIN MEDIA & DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

12.


Related party transactions


2023
2022
£
£

Balance due (to)/from company with directors in common
(135,885)
(26,252)
(135,885)
(26,252)

Remuneration paid to key management personnel during the period amounted to £134,600 (2022: £119,000).

 
Page 10