Company No: 11807396 (England and Wales)

Contents

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

DIRECTOR

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	2021		2020
		£		£
Fixed assets
Tangible assets	3	40,566		0
		40,566		0
Current assets
Debtors	4	23,994		100
Cash at bank and in hand		20,198		1,695
		44,192		1,795
Creditors
Amounts falling due within one year	5	( 23,924)		( 5,854)
Net current assets/(liabilities)		20,268		(4,059)
Total assets less current liabilities		60,834		(4,059)
Creditors
Amounts falling due after more than one year	6	( 52,992)		0
Provisions for liabilities	7	( 2,428)		0
Net assets/(liabilities)		5,414		( 4,059)
Capital and reserves
Called-up share capital	8	100		100
Profit and loss account		5,314		( 4,159 )
Total shareholder's funds/(deficit)		5,414		( 4,059)

For the financial year ending 05 April 2021 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 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 15 March 2022. They were signed on its behalf by:

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.

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.

The functional currency of DynamIQ Labs Ltd is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

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 stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Motor 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 include cash in hand, deposits held at call with banks 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

	2021		2020
	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 2020	0		0		0		0
Additions	43,325		2,133		4,419		49,877
At 05 April 2021	43,325		2,133		4,419		49,877
Accumulated depreciation
At 06 April 2020	0		0		0		0
Charge for the financial year	7,221		375		1,715		9,311
At 05 April 2021	7,221		375		1,715		9,311
Net book value
At 05 April 2021	36,104		1,758		2,704		40,566
At 05 April 2020	0		0		0		0

4. Debtors

	2021		2020
	£		£
Trade debtors	23,440		0
Amounts owed by Group undertakings	100		100
Amounts owed by director	454		0
	23,994		100

5. Creditors: amounts falling due within one year

	2021		2020
	£		£
Bank loans and overdrafts	3,680		0
Trade creditors	356		0
Accruals	2,099		0
Other taxation and social security	10,717		5,854
Obligations under finance leases and hire purchase contracts	7,072		0
	23,924		5,854

The amounts owed under hire purchase agreements are secured on the assets to which they relate.

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

	2021		2020
	£		£
Bank loans	21,320		0
Obligations under finance leases and hire purchase contracts	31,672		0
	52,992		0

The amounts owed under hire purchase agreements are secured on the assets to which they relate.

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

	2021		2020
	£		£
Bank loans	2,548		0

7. Deferred tax

	2021		2020
	£		£
At the beginning of financial year	0		0
Charged to the Statement of Income and Retained Earnings	( 2,428)		0
At the end of financial year	( 2,428)		0

8. Called-up share capital

	2021		2020
	£		£
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

Advances

During the period the director maintained a loan account with the company. Advances of £454 (2020: £Nil) and repayments of £Nil (2020: £Nil) were made on the loan. At the period end the director owed the company £454 (2020: £Nil). Interest is charged on the loans at the approved rate when overdrawn and there are no set repayment terms.