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REGISTERED NUMBER: SC420480 (Scotland)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

GOLPHIN LTD

GOLPHIN LTD (REGISTERED NUMBER: SC420480)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GOLPHIN LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: C S McPherson





REGISTERED OFFICE: Arran House
15D Skye Road
Prestwick
Ayrshire
KA9 2TA





REGISTERED NUMBER: SC420480 (Scotland)





ACCOUNTANTS: Robert J Hart & Company
Chartered Accountants
Arran House
15D Skye Road
Prestwick
Ayrshire
KA9 2TA

GOLPHIN LTD (REGISTERED NUMBER: SC420480)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 135,066 295,190
Tangible assets 5 5,382 6,544
140,448 301,734

CURRENT ASSETS
Stocks 619,428 558,566
Debtors 6 212,734 293,265
Cash at bank 31,996 20,459
864,158 872,290
CREDITORS
Amounts falling due within one year 7 5,857,415 5,474,495
NET CURRENT LIABILITIES (4,993,257 ) (4,602,205 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(4,852,809

)

(4,300,471

)

CREDITORS
Amounts falling due after more than one
year

8

23,431

43,428
NET LIABILITIES (4,876,240 ) (4,343,899 )

CAPITAL AND RESERVES
Called up share capital 143 143
Share premium 99,950 99,950
Retained earnings (4,976,333 ) (4,443,992 )
(4,876,240 ) (4,343,899 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

GOLPHIN LTD (REGISTERED NUMBER: SC420480)

BALANCE SHEET - continued
31 MARCH 2023


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

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 and authorised for issue on 27 March 2024 and were signed by:





C S McPherson - Director


GOLPHIN LTD (REGISTERED NUMBER: SC420480)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Golphin Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Development costs
Development expenditure incurred on an individual project is carried forward when its future recoverability can reasonably be regarded as assured. Any expenditure carried forward is amortised in line with the expected future sales from the related project.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The financial statements have been prepared on the going concern basis.

The company is dependent on the continuing support of the director and shareholders. The director is of the opinion that it is appropriate to prepare the financial statements on a going concern basis.

The financial statements do not contain any adjustments that might arise from withdrawal of this support.

GOLPHIN LTD (REGISTERED NUMBER: SC420480)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2022
and 31 March 2023 812,974
AMORTISATION
At 1 April 2022 517,784
Charge for year 160,124
At 31 March 2023 677,908
NET BOOK VALUE
At 31 March 2023 135,066
At 31 March 2022 295,190

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2022 15,793
Additions 632
At 31 March 2023 16,425
DEPRECIATION
At 1 April 2022 9,249
Charge for year 1,794
At 31 March 2023 11,043
NET BOOK VALUE
At 31 March 2023 5,382
At 31 March 2022 6,544

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 46,357 65,135
Other debtors 166,377 228,130
212,734 293,265

GOLPHIN LTD (REGISTERED NUMBER: SC420480)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 9,787 9,559
Trade creditors 18,020 72,296
Taxation and social security 91,841 143,136
Other creditors 5,737,767 5,249,504
5,857,415 5,474,495

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 23,431 33,353
Other creditors - 10,075
23,431 43,428

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.23 31.3.22
£    £   
Within one year 14,154 5,128
Between one and five years 2,067 -
16,221 5,128

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Other loans 7,480 19,980

The loan is secured by a floating charge over the company's assets.

11. RELATED PARTY DISCLOSURES

Interest free loan from shareholder with no fixed repayments terms £5,721,008 (2022: £5,208,008).