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COMPANY REGISTRATION NUMBER: 01111406
Dolphin Autos (Norwich) Limited
Unaudited financial statements
31 October 2024
Dolphin Autos (Norwich) Limited
Statement of financial position
31 October 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
320,962
304,129
Investments
6
105,000
105,000
---------
---------
425,962
409,129
Current assets
Stocks
14,200
14,200
Debtors
7
535,204
486,655
Cash at bank and in hand
268,368
361,370
---------
---------
817,772
862,225
Prepayments and accrued income
102,593
98,304
Creditors: Amounts falling due within one year
8
( 149,128)
( 169,122)
---------
---------
Net current assets
771,237
791,407
-----------
-----------
Total assets less current liabilities
1,197,199
1,200,536
Provisions
Taxation including deferred tax
79,270
79,469
Accruals and deferred income
( 9,517)
( 9,540)
-----------
-----------
Net assets
1,266,952
1,270,465
-----------
-----------
Capital and reserves
Called up share capital
100
100
Revaluation reserve
24,177
24,177
Profit and loss account
1,242,675
1,246,188
-----------
-----------
Shareholders funds
1,266,952
1,270,465
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 October 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Dolphin Autos (Norwich) Limited
Statement of financial position (continued)
31 October 2024
These financial statements were approved by the board of directors and authorised for issue on 24 July 2025 , and are signed on behalf of the board by:
Mr M. Cooke
Director
Company registration number: 01111406
Dolphin Autos (Norwich) Limited
Notes to the financial statements
Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Woodland Drive, Thorpe End, Norwich, Norfolk, NR13 5BH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference .
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
over the period of the lease
Plant and machinery
-
20% reducing balance
Office equipment
-
10% and 33% straight line
Motor vehicles
-
25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
4. Employee numbers
The average number of employees during the year was 45 (2023: 55 ).
5. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 November 2023
155,216
199,537
89,326
1,273,498
1,717,577
Additions
8,500
3,551
84,796
96,847
Disposals
( 182,387)
( 182,387)
---------
---------
-------
-----------
-----------
At 31 October 2024
155,216
208,037
92,877
1,175,907
1,632,037
---------
---------
-------
-----------
-----------
Depreciation
At 1 November 2023
90,449
177,084
85,563
1,060,352
1,413,448
Charge for the year
5,913
5,057
1,889
61,171
74,030
Disposals
( 176,403)
( 176,403)
---------
---------
-------
-----------
-----------
At 31 October 2024
96,362
182,141
87,452
945,120
1,311,075
---------
---------
-------
-----------
-----------
Carrying amount
At 31 October 2024
58,854
25,896
5,425
230,787
320,962
---------
---------
-------
-----------
-----------
At 31 October 2023
64,767
22,453
3,763
213,146
304,129
---------
---------
-------
-----------
-----------
6. Investments
Investment property
£
Cost
At 1 November 2023 and 31 October 2024
105,000
---------
Impairment
At 1 November 2023 and 31 October 2024
---------
Carrying amount
At 31 October 2024
105,000
---------
At 31 October 2023
105,000
---------
As at 31 October 2024 the investment property was valued at market value of £105,000 by the directors of the company.
7. Debtors
2024
2023
£
£
Trade debtors
301,940
261,832
Other debtors
233,264
224,823
---------
---------
535,204
486,655
---------
---------
8. Creditors: Amounts falling due within one year
2024
2023
£
£
Trade creditors
19,208
15,391
Social security and other taxes
25,644
44,275
Other creditors
104,276
109,456
---------
---------
149,128
169,122
---------
---------