Dolphin Property Services Limited - Period Ending 2021-03-31

Dolphin Property Services Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 8

Dolphin Property Services Limited

Company Information

Director

Mr G Kilama

Registered office

22 Forestholme Close Taymount Rise London SE23 3UQ

Accountants

Peplows Limited Chartered Accountants 1st Floor, 3 & 4 Cranmere Court Lustleigh Close Matford Business Park Exeter Devon EX2 8PW

Dolphin Property Services Limited

(Registration number: 11868257)
Balance Sheet as at 31 March 2021

	Note	31 March 2021  £	31 March 2020  £
Fixed assets
Investment property	4	203,000	203,000
Current assets
Cash at bank and in hand		29,205	728
Creditors: Amounts falling due within one year	5	(82,265)	(59,177)
Net current liabilities		(53,060)	(58,449)
Total assets less current liabilities		149,940	144,551
Creditors: Amounts falling due after more than one year	5	(153,000)	(153,000)
Provisions for liabilities		600	-
Net liabilities		(2,460)	(8,449)
Capital and reserves
Called up share capital		100	100
Profit and loss account		(2,560)	(8,549)
Total equity		(2,460)	(8,449)

Dolphin Property Services Limited

(Registration number: 11868257)
Balance Sheet as at 31 March 2021

For the financial year ending 31 March 2021 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and loss account has been taken.

Approved and authorised for issue by the director on 23 December 2021
 

.........................................

Mr G Kilama
Director

Dolphin Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021

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:
22 Forestholme Close
Taymount Rise
London
SE23 3UQ
United Kingdom

These financial statements were authorised for issue by the director on 23 December 2021.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 presented in Sterling and are rounded to the nearest full £.

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 sales/value added tax, returns, rebates and discounts.

The company recognises revenue when tenanats are invoiced for rent and properties are invoiced for management services.

Tax

The tax expense for the period comprises 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.

Dolphin Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021

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

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

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 Profit and loss account 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.

Share capital

Ordinary shares are classified as equity.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2020 - 1).

Dolphin Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021

4	Investment properties

	2021 £
At 1 April	203,000
At 31 March	203,000

There has been no valuation of investment property by an independent valuer.

Dolphin Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021

5

Creditors

Creditors: amounts falling due within one year

	Note	2021 £	2020 £
Due within one year
Loans and borrowings	7	80,765	58,864
Accruals and deferred income		1,500	313
		82,265	59,177

Creditors: amounts falling due after more than one year

	Note	2021 £	2020 £
Due after one year
Loans and borrowings	7	153,000	153,000

6	Share capital

Allotted, called up and fully paid shares

	2021		2020
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

7	Loans and borrowings

	2021 £	2020 £
Current loans and borrowings
Other borrowings	80,765	58,864

Dolphin Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021

	2021 £	2020 £
Non-current loans and borrowings
Bank borrowings	153,000	153,000

Bank borrowings

The bank loan is secured by way of fixed charge against the companies investment property.

8	Related party transactions

Key management personnel

The director

Summary of transactions with key management

The director has loaned money to the company.

At the balance sheet date, the amount owed to the director by the company is £80,765 (2020 - 58,864)
 
This is an intererst free loan which is repayable on demand.
 

Directors' remuneration

The director's remuneration for the year was as follows:

	2021 £	2020 £
Remuneration	-	740