Company registration number 02623365 (England and Wales)
DOLPHIN QUAYS (NORTH SHIELDS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
PAGES FOR FILING WITH REGISTRAR
DOLPHIN QUAYS (NORTH SHIELDS) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
DOLPHIN QUAYS (NORTH SHIELDS) LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2025
31 August 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
42,469
42,469
Current assets
Debtors
4
24,530
20,995
Creditors: amounts falling due within one year
5
(3,809)
(3,819)
Net current assets
20,721
17,176
Net assets
63,190
59,645
Capital and reserves
Called up share capital
122
122
Other reserves
42,469
42,469
Profit and loss reserves
20,599
17,054
Total equity
63,190
59,645

For the financial year ended 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 9 February 2026 and are signed on its behalf by:
Mr R J Younger
Director
Company registration number 02623365 (England and Wales)
DOLPHIN QUAYS (NORTH SHIELDS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
- 2 -
1
Accounting policies
Company information

Dolphin Quays (North Shields) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 220 Park View, Whitley Bay, Tyne and Wear, NE26 3QR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
not depreciated

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

No depreciation is charged on freehold property because the property is maintained to a high standard and the directors consider that the economic life of the property and its residual value are such that depreciation is not significant. The residual value of the property is regularly reviewed in order to identify any permanent diminution in value which would be charged to the income and expenditure account.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

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

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

DOLPHIN QUAYS (NORTH SHIELDS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.6

Service charge

Under section 42 of the Landlord and Tenant Act 1987, service charge funds are held in trust by the management company on behalf of the tenants. Such funds do not belong to the management company and are therefore not accounted for by it.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
0
0
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 September 2024 and 31 August 2025
42,469
Depreciation and impairment
At 1 September 2024 and 31 August 2025
-
0
Carrying amount
At 31 August 2025
42,469
At 31 August 2024
42,469
DOLPHIN QUAYS (NORTH SHIELDS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 4 -
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
24,530
20,995
5
Creditors: amounts falling due within one year
2025
2024
£
£
Corporation tax
831
841
Other creditors
2,978
2,978
3,809
3,819
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