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Registered number: 02972271
DOLPHIN DYNAMICS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2025
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DOLPHIN DYNAMICS LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF DOLPHIN DYNAMICS LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Dolphin Dynamics Limited for the year ended 31 December 2025 which comprise the Statement of financial position and the related notes from the Company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of directors of Dolphin Dynamics Limited, as a body, in accordance with
the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the
financial statements of Dolphin Dynamics Limited and state those matters that we have agreed to state to the
Board of directors of Dolphin Dynamics Limited, as a body, in this report. To the fullest extent permitted by law,
we do not accept or assume responsibility to anyone other than Dolphin Dynamics Limited and its Board of
directors, as a body, for our work or for this report.
It is your duty to ensure that Dolphin Dynamics Limited has kept adequate accounting records and to prepare
statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of
Dolphin Dynamics Limited. You consider that Dolphin Dynamics Limited is exempt from the statutory audit
requirement for the year.
We have not been instructed to carry out an audit or review of the financial statements of Dolphin Dynamics
Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or
information and explanations you have given to us and we do not, therefore, express any opinion on the statutory
financial statements.
Xeinadin London Limited
Accountants
Level 5a
Maple House
149 Tottenham Court Road
London
W1T 7NF
23 September 2026
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DOLPHIN DYNAMICS LIMITED
REGISTERED NUMBER: 02972271
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Capital redemption reserve
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DOLPHIN DYNAMICS LIMITED
REGISTERED NUMBER: 02972271
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2025
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 23 September 2026.
The notes on pages 4 to 11 form part of these financial statements.
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DOLPHIN DYNAMICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Dolphin Dynamics Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office is given on the Company information page of these financial statements.
The principal activity of the Company continues to be that of the development and maintenance of computer software for the travel industry, and the provision of ongoing customer support.
2.Accounting policies
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Basis of preparation of financial statements
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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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
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DOLPHIN DYNAMICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Turnover represents amounts receivable for the sale of software related products and support net of VAT and trade discounts.
Subscription revenues, which are recurring in nature and include combined software/support contracts and hosted products are recognised on a straight-line basis over the term of the subscription contract. Revenue not recognised under this policy is classified as deferred income, in other creditors, in the balance sheet.
Maintenance contracts invoiced during the year are recognised directly to turnover on the basis that they are non-refundable fees on inception of the contract. Provision is therefore made for the costs relating to those contracts that fall into the following period.
All other software and software related service revenue is recognised when it is probable that the economic benefits associated with the transaction will flow, the amount of revenue can be measured reliably and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
Interest income is recognised in profit or loss using the effective interest method.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.
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DOLPHIN DYNAMICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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 reporting date in the countries where the Company operates and generates income.
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.
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:
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Straight line over the remaining term of the lease
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Straight line over the remaining term of the lease
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Straight line over 3 years
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Straight line over 3 years
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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.
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.
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Cash and cash equivalents
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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.
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.
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the reporting date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the reporting date.
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DOLPHIN DYNAMICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, cash at bank, and loans from banks and related parties.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
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Judgments in applying accounting policies and key sources of estimation uncertainty
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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 recognised 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 revision and future periods where the revision affects both current and future periods.
There are no critical accounting estimates or judgements made in applying the company's accounting policies.
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The average monthly number of employees, including directors, during the year was 29 (2024 - 31).
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DOLPHIN DYNAMICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Charge for the year on owned assets
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Prepayments and accrued income
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DOLPHIN DYNAMICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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In the period ending 31 December 2020, the company secured a loan of £250,000 through the Coronavirus Business Interruption Loan Scheme. The loan is guaranteed by the UK government.
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Creditors: Amounts falling due after more than one year
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DOLPHIN DYNAMICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 1-2 years
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The company has granted a debenture to National Westminster Bank Plc securing all monies owed, comprising charges over its properties, undertakings, assets and goodwill
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Share premium account
Represents consideration received for shares issued above their nominal value net of transactions costs.
Capital redemption reserve
Records the nominal value of shares repurchased by the company.
Profit and loss account
Includes all current and prior period retained profit and losses.
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 £54,067 (2024: £49,134). Contributions totalling £nil (2024: £nil) were payable to the fund at the reporting date and are included in creditors.
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DOLPHIN DYNAMICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Commitments under operating leases
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At 31 December 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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Later than 1 year and not later than 5 years
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Related party transactions
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Transactions with directors
During the year the company had a loan account with the director, R Da Re. Repayments totalling of £4,580 (2024: £61,076) were made, and interest of £1,777 (2024: £1,619) has been charged to the loan account. At the year end R Da Re owed the company £110,084 (2024: 112,887).
Transactions with companies under common control
During the year the company had a loan account with Travel Ledger Limited, a company under common control. At the year end Travel Ledger Limited owed the company £477,525 (2024 : £477,525).
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There is no ultimate controlling party.
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