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Registered Number: 04239549
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 March 2024

for

DOLPHIN SEALANTS LIMITED

Directors C R Dolphin
A Dolphin
Registered Number 04239549
Registered Office 108 Locks Ride
Ascot
Surrey
SL5 8QX
Accountants Sole Associates SVR Ltd
3 Park Court
Pyrford Road
West Byfleet
Surrey
KT14 6SD
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 March 2024
Directors
The directors who served the company throughout the year were as follows:
C R Dolphin
A Dolphin
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
C R Dolphin
Director

Date approved: 15 August 2024
2
Report to the directors on the preparation of the unaudited statutory accounts of Dolphin Sealants Limited for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Dolphin Sealants Limited for the year ended 31 March 2024 which comprise of the Income Statement, the Statement of Financial Position and the related notes from the companys accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of Dolphin Sealants Limited, as a body, in accordance with the terms of our engagement letter dated 15 August 2024 Our work has been undertaken solely to prepare for your approval the accounts of Dolphin Sealants Limited and state those matters that we have agreed to state to the Board of Directors of Dolphin Sealants Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dolphin Sealants Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Dolphin Sealants 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 of Dolphin Sealants Limited. You consider that Dolphin Sealants Limited is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of Dolphin Sealants 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 statutory accounts
31 March 2024



....................................................
Sole Associates SVR Ltd
3 Park Court
Pyrford Road
West Byfleet
Surrey
KT14 6SD
15 August 2024
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 143,796    152,236 
143,796    152,236 
Current assets      
Stocks 5 35,000    35,000 
Debtors: amounts falling due within one year 6 29,446    62,086 
Cash at bank and in hand 347,545    269,351 
411,991    366,437 
Creditors: amount falling due within one year 7 (33,225)   (24,228)
Net current assets 378,766    342,209 
 
Total assets less current liabilities 522,562    494,445 
Provisions for liabilities 8 (8,650)   (9,789)
Net assets 513,912    484,656 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 513,812    484,556 
Shareholders' funds 513,912    484,656 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 15 August 2024 and were signed on its behalf by:


-------------------------------
C R Dolphin
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 April 2022 100  495,686  495,786 
Profit for the year 6,370  6,370 
Total comprehensive income for the year 6,370  6,370 
Dividends (17,500) (17,500)
Total investments by and distributions to owners (17,500) (17,500)
At 31 March 2023 100  484,556  484,656 
At 01 April 2023 100  484,556  484,656 
Profit for the year 38,256  38,256 
Total comprehensive income for the year 38,256  38,256 
Dividends (9,000) (9,000)
Total investments by and distributions to owners (9,000) (9,000)
At 31 March 2024 100  513,812  513,912 
5
General Information
Dolphin Sealants Limited is a private company, limited by shares, registered in England and Wales, registration number 04239549, registration address 108 Locks Ride, Ascot, Surrey, SL5 8QX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
These financial statements have been prepared in accordance with the provisions of section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.
Pension costs and other post-retirement benefits
The company operates a defined contribution benefit scheme. Contributions payable to the company's pension scheme are charged to the profit and loss in the period to which they relate.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Improvements to property 2% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Directors' Emoluments

2024
£
  2023
£
Administrative Expenses
Directors Salaries 21,600    20,800 
21,600    20,800 


3.

Average number of employees

Average number of employees during the year was 7 (2023 : 12).
4.

Tangible fixed assets

Cost or valuation Plant & Machinery   Motor Vehicles   Fixtures and Fittings   Improvements to property   Total
  £   £   £   £   £
At 01 April 2023 6,337    142,411    22,974    48,886    220,608 
Additions     12,720      12,720 
Disposals        
At 31 March 2024 6,337    142,411    35,694    48,886    233,328 
Depreciation
At 01 April 2023 6,337    44,762    14,340    2,933    68,372 
Charge for year   14,990    5,192    978    21,160 
On disposals        
At 31 March 2024 6,337    59,752    19,532    3,911    89,532 
Net book values
Closing balance as at 31 March 2024   82,659    16,162    44,975    143,796 
Opening balance as at 01 April 2023   97,649    8,634    45,953    152,236 


5.

Stocks

2024
£
  2023
£
Stocks 35,000    35,000 
35,000    35,000 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 29,446    62,086 
29,446    62,086 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 2,006    2,130 
Corporation Tax 9,269   
PAYE & Social Security   4,435 
Other Creditors 4,361    12,849 
Directors' Current Accounts 13,600    400 
VAT 3,989    4,414 
33,225    24,228 

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 8,650    9,789 
8,650    9,789 

6