Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312024-01-01truefalseprovision of finance and management services and dealing in securities44trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01549655 2024-01-01 2024-12-31 01549655 2023-01-01 2023-12-31 01549655 2024-12-31 01549655 2023-12-31 01549655 2023-01-01 01549655 2 2023-01-01 2023-12-31 01549655 3 2023-01-01 2023-12-31 01549655 d:Director1 2024-01-01 2024-12-31 01549655 e:FurnitureFittings 2024-01-01 2024-12-31 01549655 e:FurnitureFittings 2024-12-31 01549655 e:FurnitureFittings 2023-12-31 01549655 e:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 01549655 e:OtherPropertyPlantEquipment 2024-12-31 01549655 e:OtherPropertyPlantEquipment 2023-12-31 01549655 e:CurrentFinancialInstruments 2024-12-31 01549655 e:CurrentFinancialInstruments 2023-12-31 01549655 e:Non-currentFinancialInstruments 2024-12-31 01549655 e:Non-currentFinancialInstruments 2023-12-31 01549655 e:CurrentFinancialInstruments e:WithinOneYear 2024-12-31 01549655 e:CurrentFinancialInstruments e:WithinOneYear 2023-12-31 01549655 e:ShareCapital 2024-12-31 01549655 e:ShareCapital 2023-12-31 01549655 e:ShareCapital 2023-01-01 01549655 e:OtherMiscellaneousReserve 2024-01-01 2024-12-31 01549655 e:OtherMiscellaneousReserve 2023-12-31 01549655 e:OtherMiscellaneousReserve 2023-01-01 01549655 e:OtherMiscellaneousReserve 2 2023-01-01 2023-12-31 01549655 e:OtherMiscellaneousReserve 3 2023-01-01 2023-12-31 01549655 e:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 01549655 e:RetainedEarningsAccumulatedLosses 2024-12-31 01549655 e:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 01549655 e:RetainedEarningsAccumulatedLosses 2023-12-31 01549655 e:RetainedEarningsAccumulatedLosses 2023-01-01 01549655 e:RetainedEarningsAccumulatedLosses 2 2023-01-01 2023-12-31 01549655 e:RetainedEarningsAccumulatedLosses 3 2023-01-01 2023-12-31 01549655 d:FRS102 2024-01-01 2024-12-31 01549655 d:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 01549655 d:FullAccounts 2024-01-01 2024-12-31 01549655 d:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 01549655 6 2024-01-01 2024-12-31 01549655 e:ShareCapital 2 2023-01-01 2023-12-31 01549655 e:ShareCapital 3 2023-01-01 2023-12-31 01549655 3 2024-12-31 01549655 3 2023-12-31 01549655 f:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 01549655










DOLPHIN FINANCE CORPORATION LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
DOLPHIN FINANCE CORPORATION LIMITED
REGISTERED NUMBER: 01549655

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 5 
24
143,792

  
24
143,792

Current assets
  

Stocks
  
579,433
566,128

Debtors: amounts falling due after more than one year
 6 
220,439
-

Debtors: amounts falling due within one year
 6 
158,643
87,380

Cash at bank
 7 
3,959,494
4,074,502

  
4,918,009
4,728,010

Creditors: amounts falling due within one year
 8 
(1,027,462)
(978,313)

Net current assets
  
 
 
3,890,547
 
 
3,749,697

Total assets less current liabilities
  
3,890,571
3,893,489

  

Net assets
  
3,890,571
3,893,489


Capital and reserves
  

Called up share capital 
  
144,849
144,849

Profit and loss account
 9 
3,745,722
3,748,640

  
3,890,571
3,893,489


Page 1

 
DOLPHIN FINANCE CORPORATION LIMITED
REGISTERED NUMBER: 01549655
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 on 6 August 2025.




L.D. Melville
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 2

 
DOLPHIN FINANCE CORPORATION LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 January 2024
144,849
3,748,640
3,893,489



Loss for the year
-
(2,918)
(2,918)


At 31 December 2024
144,849
3,745,722
3,890,571



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Other reserves
Profit and loss account
Total equity

£
£
£
£

At 1 January 2023
144,849
485,119
3,990,584
4,620,552



Loss for the year
-
-
(727,063)
(727,063)

Tax paid on fair value gain on securities
-
-
(152,566)
(152,566)

Fair value gains realised
-
(485,119)
637,685
152,566


At 31 December 2023
144,849
-
3,748,640
3,893,489


The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
DOLPHIN FINANCE CORPORATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Dolphin Finance Corporation Limited is a limited company incorporated in England and Wales, the registered number is 01549655. The address of the registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.
The principal activities of the company are the provision of finance and management services and dealing in securities.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover represents management fees receivable, proceeds of sale of listed investments held in stock and interest receivable on loans and investments, recognised in the period to which they relate. 

 
2.3

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.

 
2.4

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

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.

Page 4

 
DOLPHIN FINANCE CORPORATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

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:

Fixtures and fittings
-
15%
straight line
Improvements to premises
-
15%
straight line

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.

 
2.6

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 balance sheet 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.

 
2.7

Stocks

Permanent Interest Bearing Securities (PIBS) and Bonds held as stock are remeasured to market value at each Balance sheet date. Gains and losses on remeasurement are recognised in profit and loss for the period as cost of sales.

 
2.8

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.

 
2.9

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.

 
2.10

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.

Page 5

 
DOLPHIN FINANCE CORPORATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.11

Financial instruments

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and
Page 6

 
DOLPHIN FINANCE CORPORATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)

loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 7

 
DOLPHIN FINANCE CORPORATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Fixtures and fittings
Improve-ment to premises
Total

£
£
£



Cost or valuation


At 1 January 2024
3,955
109,071
113,026



At 31 December 2024

3,955
109,071
113,026



Depreciation


At 1 January 2024
3,955
109,071
113,026



At 31 December 2024

3,955
109,071
113,026



Net book value



At 31 December 2024
-
-
-



At 31 December 2023
-
-
-

Page 8

 
DOLPHIN FINANCE CORPORATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Fixed asset investments





Investments in subsidiary companies
Investments in associates
Loans to associates
Other fixed asset investments
Total

£
£
£
£
£



Cost or valuation


At 1 January 2024
1
445
3,218,711
198,910
3,418,067


Additions
-
-
28,736
16,666
45,402



At 31 December 2024

1
445
3,247,447
215,576
3,463,469



Impairment


At 1 January 2024
-
-
3,218,711
55,564
3,274,275


Charge for the period
-
422
28,736
160,012
189,170



At 31 December 2024

-
422
3,247,447
215,576
3,463,445



Net book value



At 31 December 2024
1
23
-
-
24



At 31 December 2023
1
445
-
143,346
143,792


6.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
220,439
-


2024
2023
£
£

Due within one year

Other debtors
91,115
32,540

Prepayments and accrued income
67,528
54,840

158,643
87,380


Page 9

 
DOLPHIN FINANCE CORPORATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank
3,959,494
4,074,502



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
43,410
-

Amounts owed to associates
85
85

Other creditors
973,206
952,055

Accruals and deferred income
10,761
26,173

1,027,462
978,313



9.


Reserves

Profit and loss account

The Profit and loss reserve is made up of the profit or loss for the year less unrealised gains on listed securities held in stock at the year end.


10.


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 £2,492 (2023 £2,492).


11.


Related party transactions

The company has borrowed monies interest free from a company under common control amounting to £944,622 (2023: £944,622).

 
Page 10