Company No: 11807396 (England and Wales)

Contents

• Company Information
• Statement of Financial Position
• Notes to the Financial Statements

DIRECTOR

Mr Adam Wilding-Webb

REGISTERED OFFICE	2nd Floor Stratus House Emperor Way
	Exeter Business Park
	Exeter
	EX1 3QS
	England
	United Kingdom

COMPANY NUMBER

11807396 (England and Wales)

CHARTERED ACCOUNTANTS	Bishop Fleming LLP
	Stratus House
	Emperor Way
	Exeter Business Park
	Exeter
	EX1 3QS

	Note	2022		2021
		£		£
Fixed assets
Tangible assets	3	33,386		40,566
		33,386		40,566
Current assets
Debtors	4	119,864		23,994
Cash at bank and in hand		348,947		20,198
		468,811		44,192
Creditors
Amounts falling due within one year	5	( 112,284)		( 23,924)
Net current assets		356,527		20,268
Total assets less current liabilities		389,913		60,834
Creditors
Amounts falling due after more than one year	6	( 41,036)		( 52,992)
Provisions for liabilities	7	( 8,347)		( 2,428)
Net assets		340,530		5,414
Capital and reserves
Called-up share capital	8	100		100
Profit and loss account		340,430		5,314
Total shareholder's funds		340,530		5,414

For the financial year ending 05 April 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of DynamIQ Labs Ltd (registered number: 11807396) were approved and authorised for issue by the Director on 01 June 2022. They were signed on its behalf by:

Mr Adam Wilding-Webb Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

DynamIQ Labs Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2nd Floor Stratus House Emperor Way, Exeter Business Park, Exeter, EX1 3QS, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line/reducing balance] basis over its expected useful life, as follows:

Vehicles	25 % reducing balance
Office equipment	25 % reducing balance
Computer equipment	2 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2022		2021
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		1

3. Tangible assets

	Vehicles		Office equipment		Computer equipment		Total
	£		£		£		£
Cost
At 06 April 2021	43,325		2,133		4,419		49,877
Additions	0		3,013		246		3,259
At 05 April 2022	43,325		5,146		4,665		53,136
Accumulated depreciation
At 06 April 2021	7,221		375		1,715		9,311
Charge for the financial year	7,221		918		2,300		10,439
At 05 April 2022	14,442		1,293		4,015		19,750
Net book value
At 05 April 2022	28,883		3,853		650		33,386
At 05 April 2021	36,104		1,758		2,704		40,566

4. Debtors

	2022		2021
	£		£
Trade debtors	21,963		23,440
Amounts owed by Group undertakings	0		100
Amounts owed by director	97,901		454
	119,864		23,994

5. Creditors: amounts falling due within one year

	2022		2021
	£		£
Bank loans	4,531		3,680
Trade creditors	4,983		356
Amounts owed to Parent undertakings	300		0
Other creditors	2,100		2,099
Corporation tax	77,877		0
Other taxation and social security	15,421		10,717
Obligations under finance leases and hire purchase contracts	7,072		7,072
	112,284		23,924

6. Creditors: amounts falling due after more than one year

	2022		2021
	£		£
Bank loans	16,303		21,320
Obligations under finance leases and hire purchase contracts	24,733		31,672
	41,036		52,992

There are no amounts included above in respect of which any security has been given by the small entity.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2022		2021
	£		£
Bank loans	0		2,548

7. Deferred tax

	2022		2021
	£		£
At the beginning of financial year	( 2,428)		0
Charged to the Statement of Income and Retained Earnings	( 5,919)		( 2,428)
At the end of financial year	( 8,347)		( 2,428)

8. Called-up share capital

	2022		2021
	£		£
Allotted, called-up and fully-paid
10,000 Ordinary shares of £ 0.01 each	100		100

9. Related party transactions

Transactions with the entity's director

During the period the director maintained a loan account with the company. Advances of £80,000 (2021: £454) and repayments of £177,447 (2021: £Nil) were made on the loan. At the period end the director owed the company £97,901 (2021: £454). Interest is charged on the loans at the approved rate when overdrawn and there are no set repayment terms.