ACCOUNTS - Final Accounts

DOLPHIN FARMS LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31true2021-01-01falseNo description of principal activity22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01058727 2021-01-01 2021-12-31 01058727 2020-01-01 2020-12-31 01058727 2021-12-31 01058727 2020-12-31 01058727 c:Director1 2021-01-01 2021-12-31 01058727 d:Buildings 2021-01-01 2021-12-31 01058727 d:Buildings 2021-12-31 01058727 d:Buildings 2020-12-31 01058727 d:Buildings d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 01058727 d:OfficeEquipment 2021-01-01 2021-12-31 01058727 d:OfficeEquipment 2021-12-31 01058727 d:OfficeEquipment 2020-12-31 01058727 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 01058727 d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 01058727 d:CurrentFinancialInstruments 2021-12-31 01058727 d:CurrentFinancialInstruments 2020-12-31 01058727 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 01058727 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 01058727 d:ShareCapital 2021-12-31 01058727 d:ShareCapital 2020-12-31 01058727 d:OtherMiscellaneousReserve 2021-01-01 2021-12-31 01058727 d:OtherMiscellaneousReserve 2021-12-31 01058727 d:OtherMiscellaneousReserve 2020-12-31 01058727 d:RetainedEarningsAccumulatedLosses 2021-01-01 2021-12-31 01058727 d:RetainedEarningsAccumulatedLosses 2021-12-31 01058727 d:RetainedEarningsAccumulatedLosses 2020-12-31 01058727 c:FRS102 2021-01-01 2021-12-31 01058727 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 01058727 c:FullAccounts 2021-01-01 2021-12-31 01058727 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 01058727 6 2021-01-01 2021-12-31 01058727 4 2021-12-31 01058727 4 2020-12-31 iso4217:GBP xbrli:pure

Registered number: 01058727

DOLPHIN FARMS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2021

Fletcher & Partners

Chartered Accountants

Salisbury


DOLPHIN FARMS LIMITED REGISTERED NUMBER:01058727

BALANCE SHEET

AS AT 31 DECEMBER 2021

		2021		2020
Note		£		£

Fixed assets
Tangible assets	4		186,854		188,292
Investments	5		2,325		4,575
			189,179		192,867
Current assets
Stocks		41,732		27,814
Debtors: amounts falling due within one year	6	167,792		94,377
Cash at bank and in hand		162,872		143,820
		372,396		266,011
Creditors: amounts falling due within one year	7	(124,351)		(75,828)
Net current assets			248,045		190,183
Total assets less current liabilities			437,224		383,050

Net assets			437,224		383,050

Capital and reserves
Called up share capital		100	100
Other reserves	8	104,614	104,614
Profit and loss account	8	332,510	278,336
		437,224	383,050

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DOLPHIN FARMS LIMITED REGISTERED NUMBER:01058727

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2021

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:

Sir Christopher John Benson

Director

Date: 30 September 2022

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 2021

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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

Going concern

The COVID-19 pandemic has had an insignificant effect on the operations of the company for the year ended 31 December 2021. The emergency measures imposed by the Government to control the spread of the virus had very little effect on the revenue and operating costs within the year.
The director is working to minimise the impact of the exceptional challenges caused by the pandemic and the measures taken by the Government to control it.
The director has carefully considered the financial impact so far as possible and is comfortable that this does not affect the company's ability to continue as a going concern.

2.4

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.

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DOLPHIN FARMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

2.5

Valuation of investments

Investments held as fixed assets are shown at cost.

2.6

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.

2.7

Debtors

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

2.8

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.

2.9

Creditors

Short term creditors are measured at the transaction price.

2.10

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 (2020 - 2).

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DOLPHIN FARMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

4.	Tangible fixed assets

	Freehold property	Office equipment	Total
	£	£	£
Cost or valuation
At 1 January 2021	220,348	2,664	223,012
Additions	-	611	611
At 31 December 2021	220,348	3,275	223,623
Depreciation
At 1 January 2021	33,298	1,422	34,720
Charge for the year on owned assets	1,586	463	2,049
At 31 December 2021	34,884	1,885	36,769
Net book value
At 31 December 2021	185,464	1,390	186,854
At 31 December 2020	187,050	1,242	188,292

5.	Fixed asset investments

		Trade investments
		£

	At 1 January 2021	4,575
	Disposals	(2,250)

	Net book value
	At 31 December 2021	2,325
	At 31 December 2020	4,575

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DOLPHIN FARMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

Debtors

					2021	2020
					£	£


Other debtors	10,688	2,618
Prepayments and accrued income	157,104	91,759
	167,792	94,377

7.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Trade creditors	40,564	21,665
Corporation tax	19,889	7,749
Other creditors	8,572	9,108
Accruals and deferred income	55,326	37,306
	124,351	75,828

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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