DYNAMIC_EXTRACTIONS_LIMIT - Accounts

DYNAMIC EXTRACTIONS LIMITED - Company Information

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Company Registration No. 04321466 (England and Wales)

DYNAMIC EXTRACTIONS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2015

DYNAMIC EXTRACTIONS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 6

DYNAMIC EXTRACTIONS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

136,670

80,062

Investments

107

136,777

80,169

Current assets

Stocks

175,014

140,353

Debtors

519,531

406,671

Cash at bank and in hand

10,414

182,758

704,959

729,782

Creditors: amounts falling due within one year

(539,101)

(535,996)

Net current assets

165,858

193,786

Total assets less current liabilities

302,635

273,955

Creditors: amounts falling due after more than one year

(2,123)

302,635

271,832

Capital and reserves

Called up share capital

1,630

Share premium account

870,027

Profit and loss account

(569,022)

(599,825)

Shareholders' funds

302,635

271,832

DYNAMIC EXTRACTIONS LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2015

- 2 -

For the financial year ended 31 March 2015 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 financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board and authorised for issue on 23 December 2015

Dr D J Rooke

Director

Company Registration No. 04321466

DYNAMIC EXTRACTIONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention.

The company meets its day to day working capital requirements through an overdraft facility which is repayable on demand. The nature of the company’s business is such that there can be considerable unpredictable variation in the timing of cash inflows. The Directors consider that the company will continue to operate within the facility currently agreed. The company is also dependent upon support of its directors and shareholders. However, the margin of facilities over requirements is not large and, inherently there can be no certainty in relation to these matters. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the overdraft facility by the company’s bankers, directors and shareholders.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Research and development

Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same way unless the director are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period during which the company is expected to benefit.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Leasehold

20% straight line

Plant and machinery

14% straight line

Fixtures, fittings & equipment

33% straight line

1.6

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.7

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

DYNAMIC EXTRACTIONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

Accounting policies

(Continued)

- 4 -

1.8

Stock

Stock is valued at the lower of cost and net realisable value.

1.9

Deferred taxation

Deferred taxation 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.

1.10

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

1.11

Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

1.12

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

DYNAMIC EXTRACTIONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 5 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 April 2014

278,656

107

278,763

Additions

85,164

At 31 March 2015

363,820

107

363,927

Depreciation

At 1 April 2014

198,594

Charge for the year

28,556

At 31 March 2015

227,150

Net book value

At 31 March 2015

136,670

107

136,777

At 31 March 2014

80,062

107

80,169

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

Dynamic Extractions Inc

USA

Ordinary

100.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2015

Principal activity

Dynamic Extractions Inc

Sale of exploitation & novel purification instruments

(209,658)

(38,201)

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £2,123 (2014 - £7,996).

DYNAMIC EXTRACTIONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 6 -

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £0 (2014 - £2,123).

Share capital

2015

2014

Allotted, called up and fully paid

1,630,000 Ordinary shares of £0.001 each

1,630