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REGISTERED NUMBER: 02637441 (England and Wales)















Financial Statements for the Year Ended 31 October 2023

for

Dolphin Sails Limited

Dolphin Sails Limited (Registered number: 02637441)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Dolphin Sails Limited

Company Information
for the Year Ended 31 October 2023







DIRECTOR: M G Vincent





SECRETARY: Mrs K H Vincent





REGISTERED OFFICE: 400 Main Road
Dovercourt
Harwich
Essex
CO12 4DN





REGISTERED NUMBER: 02637441 (England and Wales)





ACCOUNTANTS: Passmore Weeks and Richardson
A Xeinadin Company
2 Beacon End Courtyard
London Road, Stanway
Colchester
Essex
CO3 0NU

Dolphin Sails Limited (Registered number: 02637441)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 18,595 25,684
18,595 25,684

CURRENT ASSETS
Stocks 257,295 299,933
Debtors 6 220,427 141,323
Cash at bank and in hand 92,762 183,196
570,484 624,452
CREDITORS
Amounts falling due within one year 7 290,450 399,516
NET CURRENT ASSETS 280,034 224,936
TOTAL ASSETS LESS CURRENT
LIABILITIES

298,629

250,620

CREDITORS
Amounts falling due after more than one
year

8

(27,500

)

(37,500

)

PROVISIONS FOR LIABILITIES (3,533 ) (4,880 )
NET ASSETS 267,596 208,240

CAPITAL AND RESERVES
Called up share capital 122 122
Retained earnings 267,474 208,118
SHAREHOLDERS' FUNDS 267,596 208,240

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

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

Dolphin Sails Limited (Registered number: 02637441)

Balance Sheet - continued
31 October 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 15 March 2024 and were signed by:





M G Vincent - Director


Dolphin Sails Limited (Registered number: 02637441)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Dolphin Sails Limited is a private company, limited by shares , registered in England and Wales. 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.

Goodwill
Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance Sheet and amortised over its estimated useful life up to a maximum of 20 years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Stocks
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 is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Dolphin Sails Limited (Registered number: 02637441)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2022 - 24 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 221,498
AMORTISATION
At 1 November 2022
and 31 October 2023 221,498
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 101,259
Additions 4,275
At 31 October 2023 105,534
DEPRECIATION
At 1 November 2022 75,575
Charge for year 11,364
At 31 October 2023 86,939
NET BOOK VALUE
At 31 October 2023 18,595
At 31 October 2022 25,684

Dolphin Sails Limited (Registered number: 02637441)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 140,503 74,717
Other debtors 79,924 66,606
220,427 141,323

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade creditors 148,371 267,687
Taxation and social security 39,560 11,622
Other creditors 102,519 120,207
290,450 399,516

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans 27,500 37,500

9. ULTIMATE CONTROLLING PARTY

The director is of the opinion that company was under the control of the Vincent family.