Company Registration No. 00566908 (England and Wales)
Dolphin Boatyard Ltd
Unaudited accounts
for the year ended 31 March 2025
Dolphin Boatyard Ltd
Unaudited accounts
Contents
Dolphin Boatyard Ltd
Company Information
for the year ended 31 March 2025
Company Number
00566908 (England and Wales)
Registered Office
Dolphin Haven Kiln Road
Galmpton
Brixham
Devon
TQ5 0EH
UK
Dolphin Boatyard Ltd
Statement of financial position
as at 31 March 2025
Tangible assets
6,144,714
5,462,570
Cash at bank and in hand
21,799
36,020
Creditors: amounts falling due within one year
(5,809,558)
(5,535,925)
Net current liabilities
(5,479,334)
(5,176,262)
Total assets less current liabilities
665,380
286,308
Creditors: amounts falling due after more than one year
(525)
(6,825)
Net assets
664,855
279,483
Called up share capital
10,000
10,000
Profit and loss account
654,855
269,483
Shareholders' funds
664,855
279,483
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 September 2025 and were signed on its behalf by
Mr B G Morris
Director
Company Registration No. 00566908
Dolphin Boatyard Ltd
Notes to the Accounts
for the year ended 31 March 2025
Dolphin Boatyard Ltd is a private company, limited by shares, registered in England and Wales, registration number 00566908. The registered office is Dolphin Haven Kiln Road, Galmpton, Brixham, Devon, TQ5 0EH, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% Straight Line
Motor vehicles
25% Straight Line
Fixtures & fittings
10% Straight Line
Dolphin Boatyard Ltd
Notes to the Accounts
for the year ended 31 March 2025
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of financial statements in compliance with FRS 102 Section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting polices. In preparing these financial statements, the director has made the following judgements:
Determine whether there are indicators of impairment of the company's tangible fixed assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.
Other key sources of estimation uncertainty:
Tangible fixed assets (note 4)
Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 April 2024
5,440,937
74,080
3,050
21,431
10,583
5,550,081
Additions
688,922
-
-
-
237
689,159
At 31 March 2025
6,129,859
74,080
3,050
21,431
10,820
6,239,240
At 1 April 2024
-
63,951
2,150
18,747
2,663
87,511
Charge for the year
-
2,164
450
1,719
2,682
7,015
At 31 March 2025
-
66,115
2,600
20,466
5,345
94,526
At 31 March 2025
6,129,859
7,965
450
965
5,475
6,144,714
At 31 March 2024
5,440,937
10,129
900
2,684
7,920
5,462,570
Amounts falling due within one year
Trade debtors
160,179
186,661
Amounts due from group undertakings etc.
124,061
74,443
Accrued income and prepayments
7,764
15,340
Dolphin Boatyard Ltd
Notes to the Accounts
for the year ended 31 March 2025
6
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
6,300
6,300
Trade creditors
181,080
107,909
Taxes and social security
9,420
9,525
Other creditors
5,022,766
5,032,875
Loans from directors
363,598
190,316
7
Creditors: amounts falling due after more than one year
2025
2024
8
Average number of employees
During the year the average number of employees was 14 (2024: 7).