Dolphin Sealants Ltd - Accounts

Dolphin Sealants Ltd - Accounts

DOLPHIN SEALANTS LIMITED - Company Information

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Registered Number : 04239549


 

 

 


Unaudited Financial Statements

for the year ended 31 March 2018

for

DOLPHIN SEALANTS LTD

Dolphin Sealants Ltd
Contents Page
For the year ended 31 March 2018
Director C R Dolphin
Registered Number 04239549
Registered Office 120 Kingsway
Woking
Surrey
GU21 6NR
Accountants SOLE ASSOCIATES ACCOUNTANTS LTD
3 PARK COURT
PYRFORD ROAD
WEST BYFLEET
KT14 6SD
1
The director presents his report and accounts for the year ended 31 March 2018.
Director
The director who served the company throughout the year was as follows:
C R Dolphin

Statement of director's responsibilities
The director is responsible for preparing the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102 and applicable law). The financial statements are required by law to 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 director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. The director is 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 at the date of approval of this report each confirm that:
- so far as the directors are aware, there is no relevant information of which the company’s auditor is unaware; and
- the directors have taken all the steps that they ought to have taken in order to make themselves aware of any relevant audit information and to establish that the company’s auditor is aware of that information.

Signed on behalf of the board


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

Date approved: 18 December 2018
2
Accountant’s report

You consider that the company is exempt from an audit for the year ended 31 March 2018 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.

In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.

We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.

SOLE ASSOCIATES ACCOUNTANTS LTD
31 March 2018



....................................................
SOLE ASSOCIATES ACCOUNTANTS LTD
3 PARK COURT
PYRFORD ROAD
WEST BYFLEET
KT14 6SD
18 December 2018
3
 
 		 Notes
 		 2018
£		   2017
£
Fixed assets      
Tangible fixed assets 2 49,203    33,224 
49,203    33,224 
Current assets      
Stocks 3 20,000    22,000 
Debtors 4 91,104    101,008 
Cash at bank and in hand 303,527    311,379 
414,631    434,387 
Creditors: amount falling due within one year 5 (66,752)   (80,772)
Net current assets 347,879    353,615 
 
Total assets less current liabilities 397,082    386,839 
Provisions for liabilities 6 (2,500)   (6,054)
Net assets 394,582    380,785 
 

Capital and reserves 		     
Called up share capital 1    1 
Profit and loss account 394,581    380,784 
Shareholders funds 394,582    380,785 
 


For the year ended 31 March 2018 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's Responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
  2. 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 accounts 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 FRS 102 .The profit and loss account has not been delivered to the Registrar of Companies.

The directors have elected not to include the profit and loss account within the financial statements.
Signed on behalf of the board of director


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

Date approved by the board: 18 December 2018
4
  Equity share capital   Profit and loss account   Total
£ £ £
At 01 April 2016 1  385,806  385,807 
Profit for the year 97,978  97,978 
Total comprehensive income for the year -  97,978  97,978 
Dividends (103,000) (103,000)
Total investments by and distributions to owners -  (103,000) (103,000)
At 31 March 2017 1  380,784  380,785 
At 01 April 2017 1  380,785  380,786 
Profit for the year 97,796  97,796 
Total comprehensive income for the year -  97,796  97,796 
Dividends (84,000) (84,000)
Total investments by and distributions to owners -  (84,000) (84,000)
At 31 March 2018 1  394,581  394,582 
5
General Information
Dolphin Sealants Ltd is a public company, limited by shares, registered in , registration number 04239549,registration address 120 Kingsway,Woking,Surrey,GU21 6NR.

The presentation currency is £ sterling.
1.

Accounting Policies

Basis of accounting
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.
Deferred taxation
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
Dividends
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved by the shareholders prior to the balance sheet 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 and Machinery 25% Reducing Balance
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.
2.

Tangible fixed assets

Cost or Valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £
At 01 April 2017 6,337    113,478    9,947    129,762 
Additions -    37,500    590    38,090 
Disposals -    (29,450)   -    (29,450)
At 31 March 2018 6,337    121,528    10,537    138,402 
Depreciation
At 01 April 2017 6,337    83,917    6,283    96,537 
Charge for year -    15,338    1,064    16,402 
On disposals -    (23,740)   -    (23,740)
At 31 March 2018 6,337    75,515    7,347    89,199 
Net book values
Closing balance as at 31 March 2018 -    46,013    3,190    49,203 
Opening balance as at 01 April 2017 -    29,561    3,663    33,224 


3.

Stocks

2018
£		   2017
£
Stocks 20,000    22,000 
20,000    22,000 

4.

Debtors: amounts falling due within one year

2018
£		   2017
£
Trade Debtors 87,424    93,764 
Prepayments & Accrued Income 3,680    3,308 
Other Debtors -    3,936 
91,104    101,008 

5.

Creditors: amount falling due within one year

2018
£		   2017
£
Trade Creditors 5,669    3,476 
Corporation Tax 26,385    27,093 
PAYE & Social Security 8,279    8,657 
Other Creditors 14,539    14,539 
VAT 11,880    27,007 
66,752    80,772 

6.

Provisions for liabilities

2018
£		   2017
£
Deferred Tax 2,500    6,054 
2,500    6,054 

7.

Directors' Emoluments

     


8.

Average No.of Employees

The average monthly number of employees in the year was 12 (2017:12)

6