Dynamic Signal Processing Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02671169 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

DYNAMIC SIGNAL PROCESSING LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr P A Cossins

SECRETARY:

Mrs D L Cossins

REGISTERED OFFICE:

15 Plantagenet House

Kingsclere Park

Kingsclere

Newbury

Berkshire

RG20 4SW

REGISTERED NUMBER:

02671169 (England and Wales)

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

293,204

296,383

293,204

296,383

CURRENT ASSETS

Stocks

50,469

46,811

Debtors

7

57,012

77,782

Cash at bank

28,861

28,470

136,342

153,063

CREDITORS

Amounts falling due within one year

8

145,929

56,437

NET CURRENT (LIABILITIES)/ASSETS

(9,587

)

96,626

TOTAL ASSETS LESS CURRENT LIABILITIES

283,617

393,009

PROVISIONS FOR LIABILITIES

1,427

1,828

NET ASSETS

282,190

391,181

CAPITAL AND RESERVES

Called up share capital

9

70

70

Capital redemption reserve

30

30

Retained earnings

282,090

391,081

SHAREHOLDERS' FUNDS

282,190

391,181

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director on 15 October 2018 and were signed by:

Mr P A Cossins - Director

1.	STATUTORY INFORMATION

Dynamic Signal Processing 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the period, exclusive of

Value Added Tax, amended for uninvoiced sales at the period end.

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 nil years.

Tangible fixed assets

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

Freehold property

-

2% straight line

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% straight line and 15% on reducing balance

All fixed assets are initially recorded at cost.

Stocks

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

slow moving items.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any

contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with

the lessor are charged against profits on a straight line basis over the period of the lease.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 4 ) .

5.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 April 2017

and 31 March 2018

34,052

AMORTISATION

At 1 April 2017

and 31 March 2018

34,052

NET BOOK VALUE

At 31 March 2018

-

At 31 March 2017

-

6.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 April 2017

313,946

273,360

7,491

42,095

636,892

Additions

-

9,161

-

1,965

11,126

At 31 March 2018

313,946

282,521

7,491

44,060

648,018

DEPRECIATION

At 1 April 2017

54,051

240,176

5,975

40,307

340,509

Charge for year

6,279

6,352

227

1,447

14,305

At 31 March 2018

60,330

246,528

6,202

41,754

354,814

NET BOOK VALUE

At 31 March 2018

253,616

35,993

1,289

2,306

293,204

At 31 March 2017

259,895

33,184

1,516

1,788

296,383

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

49,641

59,917

Other debtors

7,371

17,865

57,012

77,782

Included in other debtors is £2,967 (2017: £3,107) in relation to prepayments and accrued income.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

9,979

39,677

Taxation and social security

2,868

2,956

Other creditors

133,082

13,804

145,929

56,437

Included in other creditors is £6,093 (2017: £7,639) in relation to accruals and deferred income.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

70

Ordinary

£1

70

70