Dynamic Motion Detection Limted,Ltd - AccountsLtd - Accounts
Dynamic Motion Detection Limted,Ltd - AccountsLtd - Accounts
Registered Number:07891377 |
For the year ended 31 December 2017
England and Wales
Unaudited Financial Statements
2
For the year ended 31 December 2017
Dynamic Motion Detection Limted
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
As at |
Dynamic Motion Detection Limted
Statement of Financial Position
Registered Number : |
£ |
£ |
2016
2017
Notes |
Current assets |
Trade and other receivables |
2
Cash and cash equivalents |
Trade and other payables: amounts falling due within one |
year |
(6,577 )
(11,949 )
3
(2,863)
(3,183 )
Net current liabilities
Total assets less current liabilities |
(3,183 )
(2,863 )
(3,183 )
Net liabilities
(2,863 )
Capital and reserves |
Called up share capital |
Retained earnings |
(3,283 )
(2,963 )
(3,183 )
(2,863 )
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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 2017
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 |
2016
2017
£ |
£ |
Trade debtors |
Other debtors |
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5
For the year ended 31 December 2017
Dynamic Motion Detection Limted
Notes to the Financial Statements Continued
3. Trade and other payables: amounts falling due within one year |
2016
2017
£ |
£ |
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 preferntial 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. |
There is a balance of £11,848 (2016 - £6,449) owing to TCEI which is controlled by the ditrector Mr A Todd. |
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