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REGISTERED NUMBER: 02741709 (England and Wales)














Dolphin Precision Engineering Limited

Unaudited Financial Statements

for the Year Ended 30 June 2024






Dolphin Precision Engineering Limited (Registered number: 02741709)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3 to 4

Notes to the financial statements 5 to 7


Dolphin Precision Engineering Limited

Company Information
for the Year Ended 30 June 2024







Directors: Mr M Maksimovic
Mrs T Maksimovic





Secretary: Mrs T Maksimovic





Registered office: Bank House
Scalp Road
Fishtoft
Boston
Lincolnshire
PE21 0SH





Registered number: 02741709 (England and Wales)





Accountants: Moore Thompson
7 Swan Court
Forder Way, Cygnet Park
Hampton
Peterborough
Cambridgeshire
PE7 8GX

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Dolphin Precision Engineering Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Directors' report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Dolphin Precision Engineering Limited for the year ended 30 June 2024 which comprise the Statement of income and retained earnings, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Dolphin Precision Engineering Limited, as a body, in accordance with the terms of our engagement letter dated 25 March 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Dolphin Precision Engineering Limited and state those matters that we have agreed to state to the Board of Directors of Dolphin Precision Engineering Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dolphin Precision Engineering Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Dolphin Precision Engineering Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Dolphin Precision Engineering Limited. You consider that Dolphin Precision Engineering 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 financial statements of Dolphin Precision Engineering 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 financial statements.






Moore Thompson
7 Swan Court
Forder Way, Cygnet Park
Hampton
Peterborough
Cambridgeshire
PE7 8GX


6 November 2024

Dolphin Precision Engineering Limited (Registered number: 02741709)

Statement of Financial Position
30 June 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 5 - -
Tangible assets 6 89,782 89,538
89,782 89,538

Current assets
Stocks 69,266 236,761
Debtors 7 12,148 3,152
Cash at bank 96,811 85,270
178,225 325,183
Creditors
Amounts falling due within one year 8 167,561 235,592
Net current assets 10,664 89,591
Total assets less current liabilities 100,446 179,129

Provisions for liabilities 7,221 9,045
Net assets 93,225 170,084

Capital and reserves
Called up share capital 9 100 100
Retained earnings 93,125 169,984
Shareholders' funds 93,225 170,084

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Precision Engineering Limited (Registered number: 02741709)

Statement of Financial Position - continued
30 June 2024


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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 October 2024 and were signed on its behalf by:




Mr M Maksimovic - Director



Mrs T Maksimovic - Director


Dolphin Precision Engineering Limited (Registered number: 02741709)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. Statutory information

Dolphin Precision Engineering 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
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
Goodwill arises on business acquisitions and represents the excess cost of the company's interest in the net amount of identifiable assets, liabilities and contingent liabilities of the acquired business.

Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. The goodwill in the accounts has been amortised over 6 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not depreciated
Plant and machinery - 15% on reducing balance and 10% on reducing balance
Computer equipment - 33% 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 Statement of Income and Retained Earnings, 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 statement of financial position date.


Dolphin Precision Engineering Limited (Registered number: 02741709)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


3. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

4. Employees and directors

The average number of employees during the year was 3 (2023 - 4 ) .

5. Intangible fixed assets
Goodwill
£   
Cost
At 1 July 2023
and 30 June 2024 30,000
Amortisation
At 1 July 2023
and 30 June 2024 30,000
Net book value
At 30 June 2024 -
At 30 June 2023 -

Dolphin Precision Engineering Limited (Registered number: 02741709)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


6. Tangible fixed assets
Freehold Plant and Computer
property machinery equipment Totals
£    £    £    £   
Cost
At 1 July 2023 37,537 171,773 4,177 213,487
Additions - 8,117 638 8,755
At 30 June 2024 37,537 179,890 4,815 222,242
Depreciation
At 1 July 2023 - 120,180 3,769 123,949
Charge for year - 8,165 346 8,511
At 30 June 2024 - 128,345 4,115 132,460
Net book value
At 30 June 2024 37,537 51,545 700 89,782
At 30 June 2023 37,537 51,593 408 89,538

7. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 10,508 3,152
Tax 1,640 -
12,148 3,152

8. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 4,281 2,585
Corporation tax - 16,332
PAYE and NIC - 351
NEST creditor - 221
VAT 1,867 9,938
Advance deposits 37,356 37,402
Directors' loan accounts 119,477 163,898
Accrued expenses 4,580 4,865
167,561 235,592

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100