Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3131282023-01-01falseOther software publishingfalsetrue 02972271 2023-01-01 2023-12-31 02972271 2022-01-01 2022-12-31 02972271 2023-12-31 02972271 2022-12-31 02972271 1 2023-01-01 2023-12-31 02972271 d:CompanySecretary1 2023-01-01 2023-12-31 02972271 d:Director1 2023-01-01 2023-12-31 02972271 d:Director2 2023-01-01 2023-12-31 02972271 d:RegisteredOffice 2023-01-01 2023-12-31 02972271 c:Buildings c:ShortLeaseholdAssets 2023-01-01 2023-12-31 02972271 c:Buildings c:ShortLeaseholdAssets 2023-12-31 02972271 c:Buildings c:ShortLeaseholdAssets 2022-12-31 02972271 c:FurnitureFittings 2023-01-01 2023-12-31 02972271 c:FurnitureFittings 2023-12-31 02972271 c:FurnitureFittings 2022-12-31 02972271 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02972271 c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02972271 c:CurrentFinancialInstruments 2023-12-31 02972271 c:CurrentFinancialInstruments 2022-12-31 02972271 c:Non-currentFinancialInstruments 2023-12-31 02972271 c:Non-currentFinancialInstruments 2022-12-31 02972271 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 02972271 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 02972271 c:Non-currentFinancialInstruments c:AfterOneYear 2023-12-31 02972271 c:Non-currentFinancialInstruments c:AfterOneYear 2022-12-31 02972271 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-12-31 02972271 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2022-12-31 02972271 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-12-31 02972271 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2022-12-31 02972271 c:ShareCapital 2023-12-31 02972271 c:ShareCapital 2022-12-31 02972271 c:SharePremium 2023-01-01 2023-12-31 02972271 c:SharePremium 2023-12-31 02972271 c:SharePremium 2022-12-31 02972271 c:CapitalRedemptionReserve 2023-01-01 2023-12-31 02972271 c:CapitalRedemptionReserve 2023-12-31 02972271 c:CapitalRedemptionReserve 2022-12-31 02972271 c:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 02972271 c:RetainedEarningsAccumulatedLosses 2023-12-31 02972271 c:RetainedEarningsAccumulatedLosses 2022-12-31 02972271 d:FRS102 2023-01-01 2023-12-31 02972271 d:Audited 2023-01-01 2023-12-31 02972271 d:FullAccounts 2023-01-01 2023-12-31 02972271 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02972271 c:EntityControlledByKeyManagementPersonnel1 2023-01-01 2023-12-31 02972271 c:EntityControlledByKeyManagementPersonnel1 2023-12-31 02972271 c:EntityControlledByKeyManagementPersonnel1 2022-12-31 02972271 c:EntityControlledByKeyManagementPersonnel2 2023-01-01 2023-12-31 02972271 c:EntityControlledByKeyManagementPersonnel2 2023-12-31 02972271 d:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 02972271 2 2023-01-01 2023-12-31 02972271 6 2023-01-01 2023-12-31 02972271 7 2023-01-01 2023-12-31 02972271 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 02972271


DOLPHIN DYNAMICS LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2023

 
DOLPHIN DYNAMICS LIMITED
 
 
COMPANY INFORMATION


Directors
R Da Re 
C Richardson 




Company secretary
C Richardson



Registered number
02972271



Registered office
Oxford House
182 Upper Richmond Road

London

SW15 2SH




Independent auditors
Xeinadin Audit Limited
Chartered Accountants & Statutory Auditor

8th Floor

Becket House

36 Old Jewry

London

EC2R 8DD





 
DOLPHIN DYNAMICS LIMITED
 

CONTENTS



Page
Statement of financial position
1
Notes to the financial statements
2 - 9


 
DOLPHIN DYNAMICS LIMITED
REGISTERED NUMBER: 02972271

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

As restated
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
32,826
26,309

  
32,826
26,309

Current assets
  

Debtors: amounts falling due within one year
 6 
1,184,200
1,305,277

Cash at bank and in hand
  
313,931
271,757

  
1,498,131
1,577,034

Creditors: amounts falling due within one year
 7 
(206,257)
(123,910)

Net current assets
  
 
 
1,291,874
 
 
1,453,124

Total assets less current liabilities
  
1,324,700
1,479,433

Creditors: amounts falling due after more than one year
 8 
(100,000)
(150,000)

  

Net assets
  
1,224,700
1,329,433


Capital and reserves
  

Called up share capital 
  
107,198
107,198

Share premium account
 10 
76,020
76,020

Capital redemption reserve
 10 
22,827
22,827

Profit and loss account
 10 
1,018,655
1,123,388

  
1,224,700
1,329,433


The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



C Richardson
Director
Date: 22 November 2024

Page 1

 
DOLPHIN DYNAMICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Dolphin Dynamics Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office is given on the Company Information page of these financial statements.
The principal activity of the Company continued to be that of the development and maintenance of computer software for the travel industry, and the provision of ongoing customer support.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

  
2.2
Revenue recognition

Turnover represents amounts receivable for the sale of software related products and support net of VAT and trade discounts.
Subscription revenues, which are recurring in nature and include combined software/support contracts and hosted products are recognised on a straight-line basis over the term of the subscription contract. Revenue not recognised under this policy is classified as deferred income, in other creditors, in the balance sheet.
Maintenance contracts invoiced during the year are recognised directly to turnover on the basis that they are non-refundable fees on inception of the contract. Provision is therefore made for the costs relating to those contracts that fall into the following period.
All other software and software related service revenue is recognised when it is probable that the economic benefits associated with the transaction will flow, the amount of revenue can be measured reliably and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 2

 
DOLPHIN DYNAMICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
DOLPHIN DYNAMICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Improvements to property
-
20% on cost
Fixtures and fittings
-
33.3% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
DOLPHIN DYNAMICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the reporting date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the reporting date.

 
2.15

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based historical experience and other factors that are recognised to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.
  
There are no critical accounting estimates or judgements made in applying the company's accounting
policies.


4.


Employees

The average monthly number of employees, including directors, during the year was 28 (2022 - 31).

Page 5

 
DOLPHIN DYNAMICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Improvements to property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 January 2023
174,193
263,101
437,294


Additions
-
20,430
20,430



At 31 December 2023

174,193
283,531
457,724



Depreciation


At 1 January 2023
169,037
241,948
410,985


Charge for the year on owned assets
1,406
12,507
13,913



At 31 December 2023

170,443
254,455
424,898



Net book value



At 31 December 2023
3,750
29,076
32,826



At 31 December 2022
5,156
21,153
26,309

Page 6

 
DOLPHIN DYNAMICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

As restated
2023
2022
£
£


Trade debtors
216,294
260,681

Other debtors
580,745
585,799

Prepayments and accrued income
163,553
87,755

Tax recoverable
223,608
371,042

1,184,200
1,305,277



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
50,000
50,000

Trade creditors
34,258
42,344

Corporation tax
14,126
2,739

Other taxation and social security
18,219
11,053

Other creditors
81,200
693

Accruals and deferred income
8,454
17,081

206,257
123,910


In the period ending 31 December 2020, the company secured a loan of £250,000 through a Coronavirus Business Interruption Loan Scheme. The loan is guaranteed by the UK government.


8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
100,000
150,000

100,000
150,000


Page 7

 
DOLPHIN DYNAMICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
50,000
50,000


50,000
50,000

Amounts falling due 1-2 years

Bank loans
50,000
50,000


50,000
50,000

Amounts falling due 2-5 years

Bank loans
50,000
100,000


50,000
100,000


150,000
200,000



10.


Reserves

Share premium account

Represents consideration received for shares issued above their nominal value net of transactions costs.

Capital redemption reserve

Records the nominal value of shares repurchased by the Company.

Profit and loss account

Includes all current and priod period retained profit and losses.


11.


Prior year adjustment

The company has restated prior year figures relating to Research credits for the period ended 31 December 2022.This has impacted the profit and loss reserves by £155,810.

Page 8

 
DOLPHIN DYNAMICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £44,632 (2022: £37,458). Contributions totalling £nil (2022: £nil) were payable to the fund at the reporting date and are included in creditors.


13.


Contingent liability

On September 1995, the Company created a debenture in favour of National Westminster Bank Plc, whereby the bank has a full title guarantee with the payment or discharge of all secured sums. This charge is by way of a legal mortgage, a specific equitable charge and a floating charge over the Company's assets.


14.


Related party transactions

Transactions with directors
During the year the company had a loan account with the director R Da Re, advances totalled £41,854 and interest of £1,848 (2022:£1,119) has been charged. At the year end R Da Re, owed the company £50,192 (2022: £60,290).
At the year end the company owed C Richardson £49,360.
Transactions with companies under common control
Travel Ledger Limited is a company under common control. The Company loaned Travel Ledger Limited £564,725, at an interest rate of 8%. Travel Ledger Limited repaid £Nil (2022: £87,200) from the balance. At the year end the company was owed £477,525 from Travel Ledger Limited.


15.


Post balance sheet events

The directors have concluded that no material events have occurred since the date of approval of these financial statements that would have affect the financial statements of the Company.


16.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 22 November 2024 by Yasin Khandwalla FCCA (Senior statutory auditor) on behalf of Xeinadin Audit Limited.

 
Page 9