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Registration number: 03130621

Dolphin Mobility Ltd.
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 30 April 2024

 

Dolphin Mobility Ltd.

(Registration number: 03130621)
Statement of Financial Position as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

117,498

124,847

Investments

5

336,000

336,000

 

453,498

460,847

Current assets

 

Stocks

6

92,825

92,825

Debtors

7

1,668,585

1,672,639

Cash at bank and in hand

 

160,625

88,627

 

1,922,035

1,854,091

Creditors: Amounts falling due within one year

8

(1,871,425)

(1,726,206)

Net current assets

 

50,610

127,885

Total assets less current liabilities

 

504,108

588,732

Creditors: Amounts falling due after more than one year

8

(32,346)

(92,694)

Provisions for liabilities

(8,049)

(9,611)

Net assets

 

463,713

486,427

Capital and reserves

 

Called up share capital

703

703

Profit and loss account

463,010

485,724

Shareholders' funds

 

463,713

486,427

For the financial year ending 30 April 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 provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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 Statement.

 

Dolphin Mobility Ltd.

(Registration number: 03130621)
Statement of Financial Position as at 30 April 2024

Approved and authorised by the Board on 12 May 2025 and signed on its behalf by:

.........................................

Mr C L Dunnage
Director

 

Dolphin Mobility Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is: 37 Chertsey Road, Chobham, Woking, Surrey, GU24 8PD.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Group accounts not prepared

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertaking comprise a small group..

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, 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.

Tax

The tax expense for the period comprises current and deferred 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.

 

Dolphin Mobility Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Freehold buildings

50 years

Plant and machinery

25% reducing balance

Fixtures and fittings

25% reducing balance

Motor vehicles

25% reducing balance

Office equipment

33.3% straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Dolphin Mobility Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

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 statement 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.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.

 

Dolphin Mobility Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 23 (2023 - 24).

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 May 2023

111,969

33,321

18,105

25,120

Additions

-

-

-

-

At 30 April 2024

111,969

33,321

18,105

25,120

Depreciation

At 1 May 2023

27,250

32,526

17,451

24,731

Charge for the year

1,000

200

164

161

At 30 April 2024

28,250

32,726

17,615

24,892

Carrying amount

At 30 April 2024

83,719

595

490

228

At 30 April 2023

84,719

795

654

389

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

328,275

516,790

Additions

5,000

5,000

At 30 April 2024

333,275

521,790

Depreciation

At 1 May 2023

289,985

391,943

Charge for the year

10,824

12,349

At 30 April 2024

300,809

404,292

Carrying amount

At 30 April 2024

32,466

117,498

At 30 April 2023

38,290

124,847

 

Dolphin Mobility Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Investments

2024
£

2023
£

Investments in subsidiaries

336,000

336,000

Subsidiaries

£

Cost or valuation

At 1 May 2023

336,000

Provision

Carrying amount

At 30 April 2024

336,000

At 30 April 2023

336,000

6

Stocks

2024
£

2023
£

Finished goods and goods for resale

92,825

92,825

7

Debtors

2024
£

2023
£

Trade debtors

923,237

958,853

Other debtors

705,592

678,408

Prepayments

39,756

35,378

1,668,585

1,672,639

 

Dolphin Mobility Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Bank loans and overdrafts

9

85,438

107,592

Trade creditors

 

815,822

750,001

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

477,058

430,960

Taxation and social security

 

37,712

32,272

Accruals and deferred income

 

368,215

250,315

Other creditors

 

87,180

155,066

 

1,871,425

1,726,206


Creditors include a loan from the Directors Pension Fund, which is secured by way of a legal charge on the company's business premises, of £85,438 (2023 - £107,592).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Loans and borrowings

9

32,346

92,694


Creditors include the secured loan from the Directors Pension Fund of £32,346 (2023 - £92,694).

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

32,346

92,694

Current loans and borrowings

2024
£

2023
£

Other borrowings

85,438

107,592

10

Related party transactions

During the year the following amounts were advanced to the directors. Interest was charged to the loan at the HMRC beneficial loan interest rates prevailing during the year. The balance is unsecured and repayable on demand.

 

Dolphin Mobility Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Transactions with directors

2024

At 1 May 2023
£

Advances to director
£

Repayments by director
£

At 30 April 2024
£

Mr C R Dunnage

Advances to directors

308,763

100,091

(60,000)

348,854

2023

At 1 May 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

Mr C R Dunnage

Advances to directors

590,786

57,977

(340,000)

308,763