Company registration number 08106530 (England and Wales)
DOLPHIN QUAYS APARTMENTS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 24 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
DOLPHIN QUAYS APARTMENTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
DOLPHIN QUAYS APARTMENTS LIMITED
BALANCE SHEET
AS AT
24 MARCH 2025
24 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Current assets
Debtors
4
306,571
495,584
Cash at bank and in hand
113,064
430,638
419,635
926,222
Creditors: amounts falling due within one year
5
(419,489)
(926,220)
Net current assets
146
2
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
144
-
0
Total equity
146
2

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 5 June 2026 and are signed on its behalf by:
Mr K D Kendall
Director
Company registration number 08106530 (England and Wales)
DOLPHIN QUAYS APARTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 24 MARCH 2025
- 2 -
1
Accounting policies
Company information

Dolphin Quays Apartments Limited is a private company limited by shares incorporated in England and Wales. The registered office is LCP House, The Pensnett Estate, Kingswinford, England, DY6 7NA.

1.1
Basis of preparation

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
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Revenue comprises service charge income receivable from tenants, excluding value added tax and adjusted for any agreed credits or refunds.

Revenue is recognised in the period in which the related services are provided, reflecting the company’s obligation to provide property management and related services and its entitlement to recover the associated costs.

At the year end, service charge income is adjusted by way of an accrual or prepayment to reflect any balancing charge or credit arising on the reconciliation of income and expenditure for the period, so that income recognised matches the costs incurred in providing the services.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, cash held in client accounts by managing agents on behalf of the company, 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.

1.5
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.

DOLPHIN QUAYS APARTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 24 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of 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 deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
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.

DOLPHIN QUAYS APARTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 24 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Government grants

Government grants are recognised when there is reasonable assurance that the company will comply with the conditions attaching to them and that the grants will be received.

Grants are recognised in income when the performance conditions attached to the grant are met. Where no specific performance conditions are attached, the grant is recognised in income when the proceeds are received or receivable.

Grant income is presented within profit or loss over the period in which the related performance obligations are satisfied. Grants received before the recognition criteria are met are recognised as a liability.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

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

2025
2024
Number
Number
Total
0
0
DOLPHIN QUAYS APARTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 24 MARCH 2025
- 5 -
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
209,999
206,470
Amounts owed by group undertakings
61,100
35,001
Other debtors
35,472
254,113
306,571
495,584
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
170,813
5,999
Amounts owed to group undertakings
22,393
758,561
Taxation and social security
37,002
26,621
Other creditors
189,281
135,039
419,489
926,220
6
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 24 March 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Jordan Cain ACA
Statutory Auditor:
Xeinadin Audit Limited
Date of audit report:
5 June 2026
7
Events after the reporting date

On 31 March 2025, the company granted a fixed and floating charge in favour of Handelsbanken plc (as security trustee). This was registered at Companies House on 9 April 2025. This event did not exist at the reporting date and is therefore a non-adjusting event.

DOLPHIN QUAYS APARTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 24 MARCH 2025
- 6 -
8
Related party transactions

The company has taken advantage of the exemption in FRS 102 paragraph 33.1A not to disclose transactions entered into between wholly owned group undertakings during the period.false

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