Dynamic Motion Detection Limted,Ltd - AccountsLtd - Accounts

Dynamic Motion Detection Limted,Ltd - AccountsLtd - Accounts

DYNAMIC MOTION DETECTION LIMITED - Company Information

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2018-01-01 07891377 2018-12-31 07891377 2018-01-01 2018-12-31 07891377 2017-12-31 07891377 2017-01-01 2017-12-31 07891377 uk-core:WithinOneYear 2017-12-31 07891377 uk-core:WithinOneYear 2018-12-31 07891377 uk-core:ShareCapital 2018-12-31 07891377 uk-core:ShareCapital 2017-12-31 07891377 uk-core:RetainedEarningsAccumulatedLosses 2018-12-31 07891377 uk-core:RetainedEarningsAccumulatedLosses 2017-12-31 07891377 uk-bus:Director1 2018-01-01 2018-12-31 iso4217:GBP 07891377 uk-bus:AuditExemptWithAccountantsReport 2018-01-01 2018-12-31 07891377 uk-bus:FRS102 2018-01-01 2018-12-31 07891377 uk-bus:FullAccounts 2018-01-01 2018-12-31 07891377 uk-bus:PrivateLimitedCompanyLtd 2018-01-01 2018-12-31
Dynamic Motion Detection Limted
Registered Number:07891377
For the year ended 31 December 2018
England and Wales
Unaudited Financial Statements
2
For the year ended 31 December 2018
Dynamic Motion Detection Limted
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
As at 31 December 2018
Dynamic Motion Detection Limted
Statement of Financial Position
Registered Number :
07891377
£
£
2017
2018
Notes
Current assets
Trade and other receivables
6,022
3,135
2
2,744
Cash and cash equivalents
244
3,379
8,766
Trade and other payables: amounts falling due within one
year
(11,949)
(10,119)
3
(3,183)
(6,740)
Net current liabilities
Total assets less current liabilities
(6,740)
(3,183)
(6,740)
Net liabilities
(3,183)
Capital and reserves
Called up share capital
100
100
Retained earnings
(6,840)
(3,283)
(6,740)
(3,183)
Shareholders' funds
For the year ended 31 December 2018 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Andrew Todd Director
These financial statements were approved and authorised for issue by the Board on 20 August 2019 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 December 2018
Dynamic Motion Detection Limted
Notes to the Financial Statements
Statutory Information
Dynamic Motion Detection Limted is a private limited company, limited by shares, domiciled in England and Wales,
registration number 07891377.
Registered address:
Magna House
1 Green Gardens
Ullesthorpe
Leicestershire
LE17 5BJ
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention as
modified by the revaluation of certain assets.
Going Concern
The directors have not identified any material uncertainties related to events or conditions that may cast significant
doubt about the company's ability to continue as a going concern. Specific markets and clients have been identified
for the products and services, ongoing discussions with various parties and proof of concept investigations are
continuing. The principal creditor of the company has a participating interest. Under the Executive Management
Agreement between the parties, while this agreement is extant, no payment is required to be made to the creditor
until the company has sufficient operating profit or cash reserves. At present the Directors have no reason to believe
that the agreement will not remain in force. As a result they have adopted a going concern basis of accounting.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2. Trade and other receivables
2017
2018
£
£
Trade debtors
-
1,103
Other debtors
3,135
4,919
6,022
3,135
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5
For the year ended 31 December 2018
Dynamic Motion Detection Limted
Notes to the Financial Statements Continued
3. Trade and other payables: amounts falling due within one year
2017
2018
£
£
Trade creditors
-
1
Amounts owed to group undertaking and undertaking in which the
company has a participating interest
9,919
11,848
Other creditors
200
100
10,119
11,949
4. Related party transactions
The Commercial Edge Initiative LLP (TCEI) is a participator in the company.
There is an agreement by the Board and Teeside University that TCEI will receive preferential payment from revenue
received or from capital raised from the sale of shares to cover outstanding commitments incurred by TCEI in the
development stage of the company.
During the year TCEI invoiced services to the value of £11,457 (2017 - £27.216). There is a balance of £9,920 (2017
- £11,848) owing to TCEI as at 31 December 2018.
TCEI is controlled by the director Mr A Todd.
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