Dolphin Court (Rustington) Limited 03033476 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is the management of the properties known as Dolphin Court, Dolphin Way, Rustington, West Sussex in which the company has a freehold interest. The company has a small amount of income and expenses arising in its own right from the letting of garages, and licensing of beach hut sites. Digita Accounts Production Advanced 6.30.9574.0 true true 03033476 2023-04-01 2024-03-31 03033476 2024-03-31 03033476 bus:OrdinaryShareClass1 2024-03-31 03033476 core:RetainedEarningsAccumulatedLosses 2024-03-31 03033476 core:ShareCapital 2024-03-31 03033476 core:CurrentFinancialInstruments 2024-03-31 03033476 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 03033476 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 03033476 core:LandBuildings 2024-03-31 03033476 bus:SmallEntities 2023-04-01 2024-03-31 03033476 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 03033476 bus:FilletedAccounts 2023-04-01 2024-03-31 03033476 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 03033476 bus:RegisteredOffice 2023-04-01 2024-03-31 03033476 bus:Director1 2023-04-01 2024-03-31 03033476 bus:Director2 2023-04-01 2024-03-31 03033476 bus:Director6 2023-04-01 2024-03-31 03033476 bus:Director8 2023-04-01 2024-03-31 03033476 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 03033476 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03033476 core:LandBuildings 2023-04-01 2024-03-31 03033476 core:OtherRelatedParties 2023-04-01 2024-03-31 03033476 countries:England 2023-04-01 2024-03-31 03033476 2023-03-31 03033476 core:LandBuildings 2023-03-31 03033476 2022-04-01 2023-03-31 03033476 2023-03-31 03033476 bus:OrdinaryShareClass1 2023-03-31 03033476 core:RetainedEarningsAccumulatedLosses 2023-03-31 03033476 core:ShareCapital 2023-03-31 03033476 core:CurrentFinancialInstruments 2023-03-31 03033476 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 03033476 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 03033476 core:LandBuildings 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 03033476

Dolphin Court (Rustington) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Dolphin Court (Rustington) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Dolphin Court (Rustington) Limited

Company Information

Directors

MR Trepte

CM Ganderton

S J Alterman

GE Hughes

Registered office

55-57 Sea Lane
Rustington
Littlehampton
West Sussex
BN16 2RQ

Accountants

Lucraft Hodgson & Dawes LLP
Chartered Accountants
2/4 Ash Lane
Rustington
West Sussex
BN16 3BZ

 

Dolphin Court (Rustington) Limited

(Registration number: 03033476)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

113,300

113,300

Current assets

 

Debtors

5

1,320

-

Cash at bank and in hand

 

232,858

382,372

 

234,178

382,372

Creditors: Amounts falling due within one year

6

(62,805)

(216,217)

Net current assets

 

171,373

166,155

Total assets less current liabilities

 

284,673

279,455

Creditors: Amounts falling due after more than one year

6

(135,866)

(135,866)

Net assets

 

148,807

143,589

Capital and reserves

 

Called up share capital

7

34

34

Profit and loss account

148,773

143,555

Shareholders' funds

 

148,807

143,589

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Dolphin Court (Rustington) Limited

(Registration number: 03033476)
Balance Sheet as at 31 March 2024

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income and expenditure account.

Approved and authorised by the Board on 2 October 2024 and signed on its behalf by:
 

.........................................
MR Trepte
Director

   
     
 

Dolphin Court (Rustington) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
55-57 Sea Lane
Rustington
Littlehampton
West Sussex
BN16 2RQ
England

These financial statements were authorised for issue by the Board on 2 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in Sterling, which is also the company's functional currency. The financial statements are rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the letting of garages, licence fees from beach huts, sales of beach hut licences and registrations in the ordinary course of the company’s activities. Turnover is shown net of rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Dolphin Court (Rustington) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

The company is considered to be a mutual trading company and is therefore only liable to corporation tax on its investment income and on income received other than from lessees.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

annual impairment review

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Dolphin Court (Rustington) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income and expenditure account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Under the terms of the company’s Articles of Association, a lessee of Dolphin Court is entitled to become a shareholder in the company.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 6).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 April 2023

113,300

113,300

At 31 March 2024

113,300

113,300

Depreciation

Carrying amount

At 31 March 2024

113,300

113,300

At 31 March 2023

113,300

113,300

 

Dolphin Court (Rustington) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Debtors

Current

2024
£

2023
£

Other debtors

1,320

-

 

1,320

-

6

Creditors

Creditors: amounts falling due within one year

Note

2024
 £

2023
 £

Due within one year

 

Income tax liability

2,043

1,617

Other current financial liabilities

 

60,762

214,600

 

62,805

216,217

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

135,866

135,866

 

135,866

135,866

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

34

34

34

34

         
 

Dolphin Court (Rustington) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

8

Related party transactions

Summary of transactions with other related parties

Company members
 The company was controlled throughout the year and the previous year by its shareholders, all of whom are lessees of the properties managed by the company.

The company paid a service charge of £13,600 (2023:£13,600) to the service charges fund for the property.