Dolphin Sealants Limited - Accounts

DOLPHIN SEALANTS LIMITED - Company Information

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Registered Number: 04239549

England and Wales

Unaudited Financial Statements

for the year ended 31 March 2023

for

DOLPHIN SEALANTS LIMITED

Dolphin Sealants Limited
Contents Page
For the year ended 31 March 2023

Company information	1
Directors' report	2
Accountants' report	3
Statement of financial position	4
Statement of changes in equity	5
Notes to the financial statements	6

Dolphin Sealants Limited
Company Information
For the year ended 31 March 2023

Directors	C R Dolphin A Dolphin
Registered Number	04239549
Registered Office	108 Locks Ride Ascot Surrey SL5 8QX
Accountants	Sole Associates SVR Ltd 3 Park Court Pyrford Road West Byfleet Surrey KT14 6SD

Dolphin Sealants Limited
Directors' Report
For the year ended 31 March 2023

Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 March 2023

Directors
The directors who served the company throughout the year were as follows:

C R Dolphin

A Dolphin

Statement of directors' responsibilities

The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to

select suitable accounting policies and then apply them consistently
make judgments and accounting estimates that are reasonable and prudent
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business

The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:

----------------------------------
C R Dolphin
Director

Date approved: 14 November 2023

Dolphin Sealants Limited Accountants' Report For the year ended 31 March 2023
Report to the directors on the preparation of the unaudited statutory accounts of Dolphin Sealants Limited for the year ended 31 March 2023 In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Dolphin Sealants Limited for the year ended 31 March 2023 which comprise of the Income Statement, the Statement of Financial Position and the related notes from the companys accounting records and from information and explanations you have given us As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com/ This report is made solely to the Board of Directors of Dolphin Sealants Limited, as a body, in accordance with the terms of our engagement letter dated 14 November 2023 Our work has been undertaken solely to prepare for your approval the accounts of Dolphin Sealants Limited and state those matters that we have agreed to state to the Board of Directors of Dolphin Sealants Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dolphin Sealants Limited and its Board of Directors as a body for our work or for this report. It is your duty to ensure that Dolphin Sealants Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Dolphin Sealants Limited. You consider that Dolphin Sealants Limited is exempt from the statutory audit requirement for the year We have not been instructed to carry out an audit or a review of the accounts of Dolphin Sealants 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 accounts 31 March 2023 .................................................... Sole Associates SVR Ltd 3 Park Court Pyrford Road West Byfleet Surrey KT14 6SD 14 November 2023 3

Dolphin Sealants Limited
Accountants' Report
For the year ended 31 March 2023

Report to the directors on the preparation of the unaudited statutory accounts of Dolphin Sealants Limited for the year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Dolphin Sealants Limited for the year ended 31 March 2023 which comprise of the Income Statement, the Statement of Financial Position and the related notes from the companys accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of Dolphin Sealants Limited, as a body, in accordance with the terms of our engagement letter dated 14 November 2023 Our work has been undertaken solely to prepare for your approval the accounts of Dolphin Sealants Limited and state those matters that we have agreed to state to the Board of Directors of Dolphin Sealants Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dolphin Sealants Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Dolphin Sealants Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Dolphin Sealants Limited. You consider that Dolphin Sealants Limited is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of Dolphin Sealants 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 accounts
31 March 2023

....................................................
Sole Associates SVR Ltd
3 Park Court
Pyrford Road
West Byfleet
Surrey
KT14 6SD
14 November 2023

Registered Number: 04239549 Dolphin Sealants Limited
Statement of Financial Position
As at 31 March 2023

	Notes	2023 £	2022 £
Fixed assets
Tangible fixed assets	4	152,236	135,508
		152,236	135,508
Current assets
Stocks	5	35,000	45,000
Debtors: amounts falling due within one year	6	62,086	125,264
Cash at bank and in hand		269,351	240,876
		366,437	411,140
Creditors: amount falling due within one year	7	(24,228)	(40,448)
Net current assets		342,209	370,692

Total assets less current liabilities		494,445	506,200
Provisions for liabilities	8	(9,789)	(10,414)
Net assets		484,656	495,786

Capital and reserves
Called up share capital		100	100
Profit and loss account		484,556	495,686
Shareholder's funds		484,656	495,786

For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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 and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The financial statements were approved by the board of directors on 14 November 2023 and were signed on its behalf by:

-------------------------------
C R Dolphin
Director

Dolphin Sealants Limited
Statement of Changes in Equity
For the year ended 31 March 2023

	Equity share capital	Retained Earnings	Total
	£	£	£
At 01 April 2021	100	511,365	511,465
Profit for the year		56,721	56,721
Total comprehensive income for the year	-	56,721	56,721
Dividends		(72,400)	(72,400)
Total investments by and distributions to owners	-	(72,400)	(72,400)
At 31 March 2022	100	495,686	495,786
At 01 April 2022	100	495,686	495,786
Profit for the year		6,370	6,370
Total comprehensive income for the year	-	6,370	6,370
Dividends		(17,500)	(17,500)
Total investments by and distributions to owners	-	(17,500)	(17,500)
At 31 March 2023	100	484,556	484,656

Dolphin Sealants Limited
Notes to the Financial Statements
For the year ended 31 March 2023

General Information

Dolphin Sealants Limited is a private company, limited by shares, registered in England and Wales, registration number 04239549, registration address 108 Locks Ride, Ascot, Surrey, SL5 8QX.

The presentation currency is £ sterling.

Accounting policies

Significant accounting policies

These financial statements have been prepared in accordance with the provisions of section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts.rebates, value added tax and other sales taxes.

Pension costs and other post-retirement benefits

The company operates a defined contribution benefit scheme. Contributions payable to the company's pension scheme are charged to the profit and loss in the period to which they relate.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current and deferred tax assets and liabilities are not discounted.

Dividends

Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant & Machinery	25% Reducing Balance
Motor Vehicles	25% Reducing Balance
Fixtures and Fittings	25% Reducing Balance
Improvements to property	2% Straight Line

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Provisions

Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.

Directors' Emoluments

	2023 £	2022 £
Administrative Expenses
Directors Salaries	20,800	19,200
	20,800	19,200

3.	Average number of employees Average number of employees during the year was 7 (2022 : 12).

Tangible fixed assets

Cost or valuation	Plant & Machinery	Motor Vehicles	Fixtures and Fittings	Improvements to property	Total
	£	£	£	£	£
At 01 April 2022	6,337	126,614	21,644	48,886	203,481
Additions	-	60,145	1,330	-	61,475
Disposals	-	(44,348)	-	-	(44,348)
At 31 March 2023	6,337	142,411	22,974	48,886	220,608
Depreciation
At 01 April 2022	6,337	47,999	11,681	1,955	67,972
Charge for year	-	22,721	2,659	978	26,358
On disposals	-	(25,958)	-	-	(25,958)
At 31 March 2023	6,337	44,762	14,340	2,933	68,372
Net book values
Closing balance as at 31 March 2023	-	97,649	8,634	45,953	152,236
Opening balance as at 01 April 2022	-	78,615	9,963	46,930	135,508

Stocks

	2023 £		2022 £
Stocks	35,000		45,000
	35,000		45,000

Debtors: amounts falling due within one year

	2023 £	2022 £
Trade Debtors	62,086	47,721
Directors' Current Accounts	-	76,442
VAT	-	1,101
	62,086	125,264

Creditors: amount falling due within one year

	2023 £	2022 £
Trade Creditors	2,130	1,451
Corporation Tax	-	13,908
PAYE & Social Security	4,435	5,735
Other Creditors	12,849	19,354
Directors' Current Accounts	400	-
VAT	4,414	-
	24,228	40,448

Provisions for liabilities

	2023 £		2022 £
Deferred Tax	9,789		10,414
	9,789		10,414