Dimensional Imaging Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: SC241791 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2017

FOR

DIMENSIONAL IMAGING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr C Urquhart

D Green

B M Rose

T P Christian

SECRETARY:

Dr C Urquhart

REGISTERED OFFICE:

Hillington Park Innovation Centre

1 Ainslie Road

Hillington Industrial Estate

Glasgow

G52 4RU

REGISTERED NUMBER:

SC241791 (Scotland)

ACCOUNTANTS:

Henderson Loggie

Gordon Chambers

90 Mitchell Street

Glasgow

Lanarkshire

G1 3NQ

FIXED ASSETS

Intangible assets

4

83,288

1

Tangible assets

5

13,758

12,501

Investments

6

4

4

97,050

12,506

CURRENT ASSETS

Stocks

7,908

3,038

Debtors

7

138,080

181,103

Cash at bank

749,158

77,363

895,146

261,504

CREDITORS

Amounts falling due within one year

8

65,064

158,291

NET CURRENT ASSETS

830,082

103,213

TOTAL ASSETS LESS CURRENT LIABILITIES

927,132

115,719

CAPITAL AND RESERVES

Called up share capital

8,043

5,869

Share premium

1,519,614

702,581

Retained earnings

(600,525

)

(592,731

)

SHAREHOLDERS' FUNDS

927,132

115,719

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps 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 Sections 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors on 22 December 2017 and were signed on its behalf by:

T P Christian - Director

1.	STATUTORY INFORMATION

Dimensional Imaging Limited is a private company, limited by shares , registered in Scotland. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The

Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements

of the Companies Act 2006.

The financial statements are presented in sterling, which is the functional currency of the company. Monetary

amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting

policies are set out below.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Development costs are being amortised evenly over their estimated useful life of five years.

Intangible fixed assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Depreciation is provided at the following annual rate to write off each patent and software license over its

estimated useful life, which commences from the date economic benefit is deemed to be obtained.

Patents and licences

- 10% on a straight line basis

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on a straight line basis and 25% on a reducing balance basis

Impairment of fixed assets

At each reporting end date, the company reviews the carrying amounts of its tangible and intangible assets to

determine whether there is any indication that those assets have suffered an impairment loss. If any such

indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the

impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the

company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the

estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current

market assessments of the time value of money and the risks specific to the asset for which the estimates of future

cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount,

the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment

loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which

case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to

apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating

unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount

does not exceed the carrying amount that would have been determined had no impairment loss been recognised

for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately

in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the

impairment loss is treated as a revaluation increase.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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 directors are satisfied as to the technical, commercial and

financial viability of individual projects. In this situation, the expenditure is capitalised and amortised over the

period from which the company is expected to benefit.

Pension costs and other post-retirement benefits

Defined contribution scheme amounts are charged to the profit and loss account in respect of pension costs and

other retirement benefits based on the contributions payable in the year. Differences between contributions

payable in the year and contributions actually paid are shown as either accruals or prepayments in the balance

sheet.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 .

4.	INTANGIBLE FIXED ASSETS

Patents

and

Development

licences

costs

Totals

£

£

£

COST

At 1 May 2016

39,915

-

39,915

Additions

-

104,109

104,109

At 30 April 2017

39,915

104,109

144,024

AMORTISATION

At 1 May 2016

39,914

-

39,914

Amortisation for year

-

20,822

20,822

At 30 April 2017

39,914

20,822

60,736

NET BOOK VALUE

At 30 April 2017

1

83,287

83,288

At 30 April 2016

1

-

1

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 May 2016

3,780

157,057

160,837

Additions

6,576

12,351

18,927

At 30 April 2017

10,356

169,408

179,764

DEPRECIATION

At 1 May 2016

3,339

144,997

148,336

Charge for year

817

16,853

17,670

At 30 April 2017

4,156

161,850

166,006

NET BOOK VALUE

At 30 April 2017

6,200

7,558

13,758

At 30 April 2016

441

12,060

12,501

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 May 2016

and 30 April 2017

4

NET BOOK VALUE

At 30 April 2017

4

At 30 April 2016

4

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

85,685

157,469

Other debtors

52,395

23,634

138,080

181,103

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

8,604

2,297

Taxation and social security

7,241

21,546

Other creditors

49,219

134,448

65,064

158,291

9.	RELATED PARTY DISCLOSURES

Other debtors represents monies due in the sum of £21,604 (2016: £20,060) from Dimensional Imaging Inc, a

company incorporated in the United States of America which is wholly owned by Dimensional Imaging Limited.

10.	FIRST YEAR ADOPTION

The financial statements of Dimensional Imaging Limited for the year ended 30 April 2017 are the first financial

statements prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and

Republic of Ireland. The date of transition to FRS 102 was 1 May 2015. No changes have been required

regarding the reported financial position and financial performance for the previous period by the transition to

FRS 102.