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Registration number: 03747767

Dolphin Mobility Hoists Ltd
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 30 April 2024

 

Dolphin Mobility Hoists Ltd

(Registration number: 03747767)
Statement of Financial Position as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

9,881

11,125

Current assets

 

Stocks

5

55,500

56,650

Debtors

6

1,043,228

959,634

Cash at bank and in hand

 

76,062

118,364

 

1,174,790

1,134,648

Creditors: Amounts falling due within one year

7

(456,985)

(399,192)

Net current assets

 

717,805

735,456

Total assets less current liabilities

 

727,686

746,581

Creditors: Amounts falling due after more than one year

7

(23,240)

(46,480)

Provisions for liabilities

(2,185)

(2,434)

Net assets

 

702,261

697,667

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

702,259

697,665

Shareholders' funds

 

702,261

697,667

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.

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

 

Dolphin Mobility Hoists Ltd

(Registration number: 03747767)
Statement of Financial Position as at 30 April 2024

.........................................
C L Dunnage
Director

 

Dolphin Mobility Hoists 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 exemption from preparing consolidated financial statements contained
in Section 400 of the Companies Act 2006 on the basis that it is a subsidiary undertaking and its immediate
parent is established under the law of an EEA State
.

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 Hoists 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

Fixtures and fittings

25% reducing balance

Motor vehicles

25% reducing balance

Plant and machinery

25% reducing balance

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.

 

Dolphin Mobility Hoists Ltd

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

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.

3

Staff numbers

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

 

Dolphin Mobility Hoists Ltd

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

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

3,857

441

48,844

53,142

Additions

2,996

167

-

3,163

At 30 April 2024

6,853

608

48,844

56,305

Depreciation

At 1 May 2023

3,338

110

38,569

42,017

Charge for the year

1,713

125

2,569

4,407

At 30 April 2024

5,051

235

41,138

46,424

Carrying amount

At 30 April 2024

1,802

373

7,706

9,881

At 30 April 2023

519

331

10,275

11,125

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

55,500

56,650

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

525,957

523,236

Amounts owed by related parties

477,058

430,959

Other debtors

 

23,713

5,439

Prepayments

 

16,500

-

 

1,043,228

959,634

 

Dolphin Mobility Hoists Ltd

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Bank loans and overdrafts

8

23,240

23,240

Trade creditors

 

193,787

185,039

Taxation and social security

 

58,605

40,929

Accruals and deferred income

 

115,298

84,946

Other creditors

 

66,055

65,038

 

456,985

399,192

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Loans and borrowings

8

23,240

46,480

The bank facilities are secured by a fixed and floating charge over all the company's assets.

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

23,240

46,480

Current loans and borrowings

2024
£

2023
£

Bank borrowings

23,240

23,240

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the statement of financial position is £59,232 (2023 - £6,043).

10

Parent and ultimate parent undertaking

The company's immediate parent is Dolphin Mobility Ltd., incorporated in the United Kingdom.

  Their address is 37 Chertsey Road, Chobham, Woking, Surrey. GU24 8PD.