Dynamic Motion Detection Limted,Ltd - AccountsLtd - Accounts
Dynamic Motion Detection Limted,Ltd - AccountsLtd - Accounts
Registered Number:07891377 |
For the year ended 31 December 2016
England and Wales
Report of the Directors and Unaudited Financial Statements
2
For the year ended 31 December 2016
Dynamic Motion Detection Limted
Contents Page
Company Information |
1 |
2
Directors' Report
3
Independent Accountants' Report
4
Income Statement
5
Statement of Financial Position
6 to 7
Notes to the Financial Statements
8
Trading and Profit and Loss Account
3
For the year ended 31 December 2016
Dynamic Motion Detection Limted
Company Information
Mr Andrew Todd
Directors
Mr Iain Spears
Mrs Catherine Todd
07891377
Registered Number |
Registered Office |
Leicestershire
Accountants
1 Bitteswell Road
Lutterworth
Leics
LE17 4EL
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For the year ended 31 December 2016
Dynamic Motion Detection Limted
Directors' Report
The directors present their report and accounts for the year ended 31 December 2016.
Principal activities |
Directors
The directors who served the company throughout the year were as follows:
Mr Andrew Todd |
Signed on behalf of the board of directors
Date: |
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For the year ended 31 December 2016
Dynamic Motion Detection Limted
Independent Accountants' Report
Report to the directors on the preparation of the unaudited statutory accounts of Dynamic Motion Detection |
Limted for the year ended 31 December 2016 |
In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the accounts |
of Dynamic Motion Detection Limted for the year ended 31 December 2016 which comprise the Income Statement, |
the Statement of Financial Position and the related notes from the company's accounting records and from information |
and explanations you have given us. |
As a practising 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 Dynamic Motion Detection Limted, as a body, in accordance |
with the terms of our engagement letter dated 13 March 2015. Our work has been undertaken solely to prepare for |
your approval the accounts of Dynamic Motion Detection Limted and state those matters that we have agreed to state |
to the Board of Directors of Dynamic Motion Detection Limted, as a body, in this report in accordance with the |
requirements of the Association of Chartered Certified Accountants and 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 Dynamic Motion Detection Limted and its Board of Directors as a body for our work |
or for this report. |
It is your duty to ensure that Dynamic Motion Detection Limted 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 Dynamic Motion |
Detection Limted. You consider that Dynamic Motion Detection Limted is exempt from the statutory audit requirement |
for the year. |
Howell & Co (Leicester) Ltd
1 Bitteswell Road
Lutterworth
Leics
LE17 4EL
Date: |
09 August 2017
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For the year ended 31 December 2016
Dynamic Motion Detection Limted
Income Statement
2015
£ |
2016
£ |
Turnover |
Cost of sales |
(10,315 )
Gross profit
Administrative expenses |
(309 )
Operating loss
(309 )
(309 )
Loss before taxation
(309 )
Loss for the financial year
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As at |
Dynamic Motion Detection Limted
Statement of Financial Position
Registered Number : |
£ |
£ |
2015
2016
Notes |
Current assets |
Trade and other receivables |
2
-
Cash and cash equivalents |
Trade and other payables: amounts falling due within one |
year |
(4,265 )
(6,577 )
3
(2,554)
(2,863 )
Net current liabilities
Total assets less current liabilities |
(2,863 )
(2,554 )
(2,863 )
Net liabilities
(2,554 )
Capital and reserves |
Called up share capital |
Retained earnings |
(2,963 )
(2,654 )
(2,863 )
(2,554 )
Shareholders' funds
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. |
Mr Andrew Todd |
These financial statements were approved and authorised for issue by the Board on |
The notes form part of these financial statements |
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For the year ended 31 December 2016
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
2. Trade and other receivables |
2015
2016
£ |
£ |
Trade debtors |
Other debtors |
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For the year ended 31 December 2016
Dynamic Motion Detection Limted
Notes to the Financial Statements Continued
3. Trade and other payables: amounts falling due within one year |
2015
2016
£ |
£ |
Trade creditors |
Amounts owed to group undertaking and undertaking in which the |
company has a participating interest |
Other creditors |
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 period TCEI invoiced services to the value of £10,315 (2015 - £2,081). This was for costs incurred by |
TCEI for services provided in the development stage of the company and is calculated as a share of any revenue |
received. |
There is a balance of £6,449 (2015 - £3,951) owing to The Commercial Edge Initiative LLP which is controlled by the |
director Mr A Todd. |
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