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DOLPHIN PROPERTY (MANAGEMENT) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Dolphin Property (Management) Limited is a private company limited by shares, incorporated in England and Wales with the registered number 00973290. The registered office address is Crown Chambers, Bridge Street, Salisbury, Wiltshire, SP1 2LZ.
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Accounting policies
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Basis of preparation of financial statements
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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
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The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The directors assess whether the use of the going concern basis is appropriate, i.e. whether there are material uncertainties related to events or conditions that may cast significant doubt on the capability of the company to continue as a going concern. The directors make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements. At the time of approving the financial statements, the directors have a reasonable expectation that the company will be would up in the forseeable future. However the financial statements have been prepared on the going concern basis. In the the opinion of the directors the assets are stated at their best estimate of net realisable value. Therefore there is no need to restate the net assets to reflect that the company is no longer a going concern as the figures would not be materially different.
The COVID-19 pandemic has not had an impact on the company in the year to 31 December 2021. The directors have carefully considered the financial impact so far as possible and are comfortable that this does not affect the company's future.
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.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.
Depreciation is provided on the following basis:
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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