Dolphin IT Solutions (UK) Ltd

Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 9

Dolphin IT Solutions (UK) Ltd

(Registration number: 06663007)
Statement of Financial Position as at 31 January 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	36,585	41,852
Current assets
Debtors	5	472,336	382,654
Cash at bank and in hand		20,654	1,167
		492,990	383,821
Creditors: Amounts falling due within one year	6	(316,870)	(264,887)
Net current assets		176,120	118,934
Total assets less current liabilities		212,705	160,786
Creditors: Amounts falling due after more than one year	6	(213,669)	(145,151)
Provisions for liabilities		(3,147)	(3,551)
Net (liabilities)/assets		(4,111)	12,084
Capital and reserves
Called up share capital		100	100
Profit and loss account		(4,211)	11,984
Shareholders' (deficit)/funds		(4,111)	12,084

For the financial year ending 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 27 August 2026
 

Dolphin IT Solutions (UK) Ltd

(Registration number: 06663007)
Statement of Financial Position as at 31 January 2026 (continued)

Mr A P Taylor Director

Dolphin IT Solutions (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
47 Boutport Street
Barnstaple
Devon
EX31 1SQ

Principal activity

The principal activity of the company is computer consultancy.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The director assessed that the company will have adequate resources available to finance its trading and other obligations during the course of the twelve months from the date of approval of these financial statements. They have therefore been prepared on a going concern basis.

Dolphin IT Solutions (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026 (continued)

2	Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Dolphin IT Solutions (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026 (continued)

2	Accounting policies (continued)

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold property	5% straight line
Fixtures and fittings	33% straight line
Motor vehicles	6 years straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Dolphin IT Solutions (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026 (continued)

2	Accounting policies (continued)

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the statement of comprehensive income and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 10 (2025 - 9).

Dolphin IT Solutions (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026 (continued)

4	Tangible assets

	Freehold property £	Fixtures and fittings £	Motor vehicles  £	Total £
Cost or valuation
At 1 February 2025	14,129	18,711	24,280	57,120
Additions	-	2,356	-	2,356
Disposals	-	(3,335)	-	(3,335)
At 31 January 2026	14,129	17,732	24,280	56,141
Depreciation
At 1 February 2025	2,806	8,415	4,047	15,268
Charge for the year	708	2,927	4,047	7,682
Eliminated on disposal	-	(3,394)	-	(3,394)
At 31 January 2026	3,514	7,948	8,094	19,556
Carrying amount
At 31 January 2026	10,615	9,784	16,186	36,585
At 31 January 2025	11,323	10,296	20,233	41,852

5

Debtors

	2026 £	2025 £
Trade debtors	82,676	110,530
Other debtors	303,178	242,603
Prepayments	1,066	1,066
Income tax asset	85,416	28,455
	472,336	382,654

Dolphin IT Solutions (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026 (continued)

6

Creditors

Creditors: amounts falling due within one year

	2026 £	2025 £
Due within one year
Loans and borrowings	53,278	53,647
Taxation and social security	157,532	104,439
Accruals and deferred income	79,524	64,618
Other creditors	26,536	42,183
	316,870	264,887

Creditors: amounts falling due after more than one year

	2026 £	2025 £
Due after one year
Loans and borrowings	213,669	145,151

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

Dolphin IT Solutions (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026 (continued)

8	Related party transactions

Transactions with the director

Interest is charged on overdrawn balances at the HMRC official rate of interest.
 

2026	At 1 February 2025 £	Advances to director £	Repayments by director £	At 31 January 2026 £
Directors	242,603	161,121	(100,546)	303,178

2025	At 1 February 2024 £	Advances to director £	Repayments by director £	At 31 January 2025 £
Directors	118,301	277,548	(153,246)	242,603