Acorah Software Products - Accounts Production 16.0.110 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 13418447 Mrs Debbie Grant Mr Paul Grant iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13418447 2023-05-31 13418447 2024-05-31 13418447 2023-06-01 2024-05-31 13418447 frs-core:CurrentFinancialInstruments 2024-05-31 13418447 frs-core:Non-currentFinancialInstruments 2024-05-31 13418447 frs-core:SharePremium 2024-05-31 13418447 frs-core:ShareCapital 2024-05-31 13418447 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 13418447 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 13418447 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 13418447 frs-bus:SmallEntities 2023-06-01 2024-05-31 13418447 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 13418447 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 13418447 frs-bus:Director1 2023-06-01 2024-05-31 13418447 frs-bus:Director2 2023-06-01 2024-05-31 13418447 frs-countries:EnglandWales 2023-06-01 2024-05-31 13418447 2022-05-31 13418447 2023-05-31 13418447 2022-06-01 2023-05-31 13418447 frs-core:CurrentFinancialInstruments 2023-05-31 13418447 frs-core:Non-currentFinancialInstruments 2023-05-31 13418447 frs-core:SharePremium 2023-05-31 13418447 frs-core:ShareCapital 2023-05-31 13418447 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 13418447
Dolphin Property Rental Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Revis & Co Accountancy Services Ltd
AAT
1st Floor 50 High Street
Cosham
Portsmouth
Hampshire
PO6 3AG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13418447
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 1,854,000 1,854,000
1,854,000 1,854,000
CURRENT ASSETS
Debtors 5 505 342
Cash at bank and in hand 66,494 62,833
66,999 63,175
Creditors: Amounts Falling Due Within One Year 6 (48,125 ) (55,829 )
NET CURRENT ASSETS (LIABILITIES) 18,874 7,346
TOTAL ASSETS LESS CURRENT LIABILITIES 1,872,874 1,861,346
Creditors: Amounts Falling Due After More Than One Year 7 (619,439 ) (631,958 )
NET ASSETS 1,253,435 1,229,388
CAPITAL AND RESERVES
Called up share capital 8 100 100
Share premium account 1,193,500 1,193,500
Profit and Loss Account 59,835 35,788
SHAREHOLDERS' FUNDS 1,253,435 1,229,388
Page 1
Page 2
For the year ending 31 May 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Debbie Grant
Director
Mr Paul Grant
Director
13/11/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Dolphin Property Rental Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13418447 . The registered office is 1st Floor , 50 High Street, Cosham, Hampshire, PO6 3AG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.3. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Investment Property
2024
£
Fair Value
As at 1 June 2023 and 31 May 2024 1,854,000
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 505 342
Page 3
Page 4
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 62 867
Bank loans and overdrafts 25,029 25,029
Corporation tax 6,110 9,214
Other taxes and social security 209 -
Accruals and deferred income 8,449 8,325
Directors' loan accounts 8,266 12,394
48,125 55,829
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 619,439 631,958
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4