ACCOUNTS - Final Accounts

Registered number: 01058727

DOLPHIN FARMS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

Fletcher & Partners

Chartered Accountants

Salisbury


DOLPHIN FARMS LIMITED REGISTERED NUMBER:01058727

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	4		185,139		185,446
Investments	5		75		75
			185,214		185,521
Current assets
Stocks		44,957		54,935
Debtors: amounts falling due within one year	6	142,899		168,728
Cash at bank and in hand		204,071		156,459
		391,927		380,122
Creditors: amounts falling due within one year	7	(79,897)		(76,177)
Net current assets			312,030		303,945
Total assets less current liabilities			497,244		489,466

Net assets			497,244		489,466

Capital and reserves
Called up share capital		100	100
Other reserves	8	104,614	104,614
Profit and loss account	8	392,530	384,752
		497,244	489,466

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DOLPHIN FARMS LIMITED REGISTERED NUMBER:01058727

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 by:

Charles Jefferis Woodburn Benson

Director

Date: 29 September 2025

The notes on pages 3 to 6 form part of these financial statements.

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DOLPHIN FARMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Dolphin Farms Limited is a private company limited by shares, incorporated in England and Wales with the registered number 01058727. The registered office address is Crown Chambers, Bridge Street, Salisbury, SP1 2LZ.

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

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.3

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.

Land is not depreciated. Depreciation on other assets 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:

				Freehold property	-	4% straight line
				Office equipment	-	20 % 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.

2.4

Valuation of investments

Investments held as fixed assets are shown at cost.

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DOLPHIN FARMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

2.6

Debtors

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

2.7

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.

2.8

Creditors

Short term creditors are measured at the transaction price.

2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 1).

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DOLPHIN FARMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

4.	Tangible fixed assets

		Freehold property
		£
	Cost or valuation
	At 1 January 2024	223,501
	Additions	1,279
	At 31 December 2024	224,780
	Depreciation
	At 1 January 2024	38,055
	Charge for the year on owned assets	1,586
	At 31 December 2024	39,641
	Net book value
	At 31 December 2024	185,139
	At 31 December 2023	185,446

5.	Fixed asset investments

		Trade investments
		£

	At 1 January 2024	75

	Net book value
	At 31 December 2024	75
	At 31 December 2023	75

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DOLPHIN FARMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Debtors

					2024	2023
					£	£


Other debtors	7,787	17,733
Prepayments and accrued income	135,112	150,995
	142,899	168,728

7.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	32,927	33,856
Corporation tax	2,196	1,960
Other creditors	7,511	7,511
Accruals and deferred income	37,263	32,850
	79,897	76,177

Reserves

Other reserves

The other reserve represents the unrealised surplus on the revaluation of freehold property in 1999 deemed as cost.

Profit & loss account

The Profit and loss account represents accumulated realised profits.

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