Dynamo Communications Ltd - Accounts to registrar (filleted) - small 18.2

Unaudited Financial Statements

for the Year Ended 31 March 2019

for

Dynamo Communications Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P Bowles

P Cockerton

REGISTERED OFFICE:

4th Floor

158 - 160 North Gower Street

London

NW1 2ND

REGISTERED NUMBER:

07606138 (England and Wales)

ACCOUNTANTS:

Michael Letch & Partners LLP

Accountants

146 High Street

Billericay

Essex

CM12 9DF

FIXED ASSETS

Intangible assets

4

1,135

6,096

Tangible assets

5

12,592

9,182

Investments

6

4

4

13,731

15,282

CURRENT ASSETS

Debtors

7

257,716

228,028

Cash at bank and in hand

1,400

156

259,116

228,184

CREDITORS

Amounts falling due within one year

8

213,850

215,831

NET CURRENT ASSETS

45,266

12,353

TOTAL ASSETS LESS CURRENT LIABILITIES

58,997

27,635

CREDITORS

Amounts falling due after more than one year

9

(55,881

)

(24,144

)

PROVISIONS FOR LIABILITIES

(2,392

)

(1,745

)

NET ASSETS

724

1,746

CAPITAL AND RESERVES

Called up share capital

204

202

Retained earnings

520

1,544

SHAREHOLDERS' FUNDS

724

1,746

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors on 16 December 2019 and were signed on its behalf by:

P Cockerton - Director

1.	STATUTORY INFORMATION

Dynamo Communications Ltd is a private company, limited by shares , registered in England and Wales. The

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

2.	ACCOUNTING POLICIES

Going concern

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to

continue in operational existence for the foreseeable future. For this reason the directors continue to adopt the

going concern basis in preparing the financial statements.

Preparation of consolidated financial statements

The financial statements contain information about Dynamo Communications Ltd as an individual company and

do not contain consolidated financial information as the parent of a group. The company is exempt under Section

399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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 - crypto-currency

Crypto-currencies are revalued at the year end. There is limited advice by the Accounting Standards Board as to

how crypto-currencies should be treated in the company accounts and the directors have therefore taken a

conservative view.

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

-

25% on reducing balance and Straight line over 3 years

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2018 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST OR VALUATION

At 1 April 2018

6,096

Revaluations

(4,961

)

At 31 March 2019

1,135

NET BOOK VALUE

At 31 March 2019

1,135

At 31 March 2018

6,096

Cost or valuation at 31 March 2019 is represented by:

Other

intangible

assets

£

Valuation in 2018

(4,961

)

Cost

6,096

1,135

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2018

9,173

74,116

83,289

Additions

-

12,722

12,722

Disposals

-

(59,019

)

(59,019

)

At 31 March 2019

9,173

27,819

36,992

DEPRECIATION

At 1 April 2018

4,206

69,901

74,107

Charge for year

1,242

5,880

7,122

Eliminated on disposal

-

(56,829

)

(56,829

)

At 31 March 2019

5,448

18,952

24,400

NET BOOK VALUE

At 31 March 2019

3,725

8,867

12,592

At 31 March 2018

4,967

4,215

9,182

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2018

and 31 March 2019

4

NET BOOK VALUE

At 31 March 2019

4

At 31 March 2018

4

The company's investment at the Balance Sheet date refers to its investment in its American subsidiary, as

follows:

Dynamo Communications Inc

Registered office: 650 5th Street No.513, San Francisco, CA 94107

Class of shares: % holding:

Ordinary 68.91

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

86,658

121,294

Amounts owed by group undertakings

-

3,529

Other debtors

24,392

27,654

Directors' loan accounts

137,357

63,099

Prepayments

9,309

12,452

257,716

228,028

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

28,253

43,196

Other loans

11,597

-

Trade creditors

77,997

27,401

Amounts owed to group undertakings

765

-

Tax

21,235

45,505

Social security and other taxes

44,017

49,967

Other creditors

9,474

11,419

Deferred income

17,012

35,343

Accrued expenses

3,500

3,000

213,850

215,831

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

20,294

24,144

Other loans

35,587

-

55,881

24,144

10.	RELATED PARTY DISCLOSURES