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Company Registration No. 00566908 (England and Wales)
Dolphin Boatyard Ltd Unaudited accounts for the year ended 31 March 2024
Dolphin Boatyard Ltd Unaudited accounts Contents
Page
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Dolphin Boatyard Ltd Company Information for the year ended 31 March 2024
Director
Mr B G Morris
Company Number
00566908 (England and Wales)
Registered Office
Dolphin Haven Kiln Road Galmpton Brixham Devon TQ5 0EH UK
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Dolphin Boatyard Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,462,570 
4,081,167 
Current assets
Debtors
323,643 
92,667 
Cash at bank and in hand
36,020 
66,011 
359,663 
158,678 
Creditors: amounts falling due within one year
(5,535,925)
(4,160,776)
Net current liabilities
(5,176,262)
(4,002,098)
Total assets less current liabilities
286,308 
79,069 
Creditors: amounts falling due after more than one year
(6,825)
(13,125)
Net assets
279,483 
65,944 
Capital and reserves
Called up share capital
10,000 
10,000 
Profit and loss account
269,483 
55,944 
Shareholders' funds
279,483 
65,944 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 September 2024 and were signed on its behalf by
Mr B G Morris Director Company Registration No. 00566908
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Dolphin Boatyard Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Dolphin Boatyard Ltd is a private company, limited by shares, registered in England and Wales, registration number 00566908. The registered office is Dolphin Haven Kiln Road, Galmpton, Brixham, Devon, TQ5 0EH, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the 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.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% Straight Line
Motor vehicles
25% Straight Line
Fixtures & fittings
10% Straight Line
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Dolphin Boatyard Ltd Notes to the Accounts for the year ended 31 March 2024
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of financial statements in compliance with FRS 102 Section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting polices. In preparing these financial statements, the director has made the following judgements: Determine whether there are indicators of impairment of the company's tangible fixed assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit. Other key sources of estimation uncertainty: Tangible fixed assets (note 4) Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 April 2023
4,057,636 
74,030 
3,050 
21,431 
5,547 
4,161,694 
Additions
1,383,301 
50 
- 
- 
5,036 
1,388,387 
At 31 March 2024
5,440,937 
74,080 
3,050 
21,431 
10,583 
5,550,081 
Depreciation
At 1 April 2023
- 
61,659 
1,700 
17,003 
165 
80,527 
Charge for the year
- 
2,292 
450 
1,744 
2,498 
6,984 
At 31 March 2024
- 
63,951 
2,150 
18,747 
2,663 
87,511 
Net book value
At 31 March 2024
5,440,937 
10,129 
900 
2,684 
7,920 
5,462,570 
At 31 March 2023
4,057,636 
12,371 
1,350 
4,428 
5,382 
4,081,167 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
46,652 
- 
Trade debtors
186,661 
85,760 
Accrued income and prepayments
15,340 
6,907 
Other debtors
74,990 
- 
323,643 
92,667 
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Dolphin Boatyard Ltd Notes to the Accounts for the year ended 31 March 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
6,300 
6,300 
VAT
- 
17,455 
Trade creditors
107,909 
20,478 
Taxes and social security
9,525 
7,136 
Other creditors
5,032,875 
3,762,347 
Loans from directors
190,316 
158,060 
Accruals
189,000 
189,000 
5,535,925 
4,160,776 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
6,825 
13,125 
8
Average number of employees
During the year the average number of employees was 7 (2023: 7).
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