Company Registration No. 03788210 (England and Wales)
DYNAMIS LIMITED
(TRADING AS BUSINESSESFORSALE.COM)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
DYNAMIS LIMITED
(TRADING AS BUSINESSESFORSALE.COM)
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 9
DYNAMIS LIMITED
(TRADING AS BUSINESSESFORSALE.COM)
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
181,399
195,453
Tangible assets
4
148,279
187,241
Investments
5
566,024
621,434
895,702
1,004,128
Current assets
Debtors
6
1,114,977
981,857
Investments
-
0
75
Cash at bank and in hand
1,780,142
1,705,358
2,895,119
2,687,290
Creditors: amounts falling due within one year
7
(744,536)
(425,839)
Net current assets
2,150,583
2,261,451
Total assets less current liabilities
3,046,285
3,265,579
Provisions for liabilities
8
-
0
(4,923)
Net assets
3,046,285
3,260,656
Capital and reserves
Called up share capital
9
56,220
57,350
Share premium account
-
0
5,625
Capital redemption reserve
12,352
11,222
Profit and loss reserves
2,977,713
3,186,459
Total equity
3,046,285
3,260,656

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 31 October 2023 and are signed on its behalf by:
M D Markou
Director
Company Registration No. 03788210
DYNAMIS LIMITED
(TRADING AS BUSINESSESFORSALE.COM)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information

Dynamis Limited is a private company limited by shares incorporated in England and Wales. The registered office is Dynamis House, 6-8 Sycamore Street, London, EC1Y 0SW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown gross of VAT and other sales related taxes. Revenue is recognised in the profit and loss account when the company has earned the right to consideration under the contract.

1.4
Intangible fixed assets other than goodwill

Intangible assets includes domain names are initially recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Amortisation is recognised so as to write off the cost of assets over their estimated useful lives of 20 years.

 

Intangible assets also include crypto assets which are measured at their fair value by reference to their quoted price on crypto exchanges. If no crypto exchange is available, the crypto assets are held at cost.

 

Crypto assets are not amortised.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
Over the term of the lease
Office equipment
Between 20% and 33.33% straight line
Fixtures and fittings
20% straight line
DYNAMIS LIMITED
(TRADING AS BUSINESSESFORSALE.COM)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 3 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Fixed asset investments

Interests in subsidiaries and associates are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.8
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks. Cash on deposit for a period of 3 months or longer is included in current asset investments.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

DYNAMIS LIMITED
(TRADING AS BUSINESSESFORSALE.COM)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

 

 

1.14
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to expense on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

DYNAMIS LIMITED
(TRADING AS BUSINESSESFORSALE.COM)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 5 -

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.15
Government grants

Government grants, which includes amount received under the Coronavirus Job Retention Scheme, are recognised at the fair value of the grant received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. the income recognised in the other income on a systematic basis over the periods in which the associated costs are incurred, using the accrual model.

1.16
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
26
28
3
Intangible fixed assets
Domain names
Cryptocurrency
Total
£
£
£
Cost or valuation
At 1 April 2022
381,045
-
0
381,045
Additions
-
5,000
5,000
At 31 March 2023
381,045
5,000
386,045
Amortisation and impairment
At 1 April 2022
185,592
-
0
185,592
Amortisation charged for the year
19,054
-
0
19,054
At 31 March 2023
204,646
-
0
204,646
Carrying amount
At 31 March 2023
176,399
5,000
181,399
At 31 March 2022
195,453
-
0
195,453
DYNAMIS LIMITED
(TRADING AS BUSINESSESFORSALE.COM)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
3
Intangible fixed assets
(Continued)
- 6 -

If revalued assets were stated on an historical cost basis rather than a fair value basis, the total amounts included would have been as follows:

2023
2022
£
£
Cost
-
-
Accumulated amortisation
-
-
Carrying value
-
-

The revaluation surplus is disclosed in note . **Details of restrictions**

4
Tangible fixed assets
Short term leasehold improvements
Office equipment
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 April 2022
510,738
126,810
32,368
669,916
Additions
-
0
19,530
3,618
23,148
Disposals
-
0
(22,178)
-
0
(22,178)
At 31 March 2023
510,738
124,162
35,986
670,886
Depreciation and impairment
At 1 April 2022
377,709
76,877
28,089
482,675
Depreciation charged in the year
28,572
30,500
3,038
62,110
Eliminated in respect of disposals
-
0
(22,178)
-
0
(22,178)
At 31 March 2023
406,281
85,199
31,127
522,607
Carrying amount
At 31 March 2023
104,457
38,963
4,859
148,279
At 31 March 2022
133,029
49,933
4,279
187,241
5
Fixed asset investments
2023
2022
£
£
Investments
566,024
621,434
DYNAMIS LIMITED
(TRADING AS BUSINESSESFORSALE.COM)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
5
Fixed asset investments
(Continued)
- 7 -
Movements in fixed asset investments
Subsidary undertakings
Associate undertakings
Other investments
Total
£
£
£
£
Cost
At 1 April 2022
25,054
1,053,542
665,900
1,744,496
Additions
-
-
14,084
14,084
Repayment
-
-
(13,328)
(13,328)
Disposals
-
-
(31,166)
(31,166)
At 31 March 2023
25,054
1,053,542
635,490
1,714,086
Impairment
At 1 April 2022
-
1,053,497
69,565
1,123,062
Impairment charge
-
-
25,000
25,000
At 31 March 2023
-
1,053,497
94,565
1,148,062
Carrying amount
At 31 March 2023
25,054
45
540,925
566,024
At 31 March 2022
25,054
45
596,335
621,434
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
255,853
203,643
Directors' loan accounts
89,333
13,433
Corporation tax recoverable
129,555
100,631
Amounts owed by group undertakings
181,632
229,775
Other debtors
376,110
370,004
Prepayments
82,494
64,371
1,114,977
981,857
7
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
24,885
16,579
Corporation tax
343,915
40,420
Other taxation and social security
139,333
159,780
Other creditors
73,407
44,701
Accruals and deferred income
162,996
164,359
744,536
425,839
DYNAMIS LIMITED
(TRADING AS BUSINESSESFORSALE.COM)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 8 -
8
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
-
0
4,923
9
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
Ordinary shares of 1p each
5,622,000
5,735,000
56,220
57,350

 

On 12 February 2023, the company repurchased 113,000 Ordinary shares of £0.01 each for total consideration of £135,600.

10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
Within one year
160,000
160,000
Between two and five years
426,667
586,667
In over five years
-
0
-
0
586,667
746,667
DYNAMIS LIMITED
(TRADING AS BUSINESSESFORSALE.COM)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 9 -
11
Related party transactions

During the year, the company made advance payments to and paid expenses on behalf of the directors amounting to £104,693 (2022: £11,515). The directors were charged interest of £768 (2022: £126) and made repayments of £29,561 (2022: £12,899) during the year. At the year end, the company was owed £89,333 (2022: £13,433) by the directors.

 

During the year, rent of £160,000 (2022: £160,000) was paid to Ryland Estates Limited.

 

Ryland Estates Limited is a company in which the directors and shareholders of Dynamis Limited, Mr A D Markou and Mr M D Markou, are directors. A shareholder of the company, Bailcom Limited, a company registered in Cyprus, is the parent company of Ryland Estates Limited. Bailcom Limited is under the control of the Cypriot based M Demetriou Trust, a trust for which M Demetriou, a Cypriot resident, is the settlor. M Demetriou is the grandfather of the directors Mr A D Markou and Mr M D Markou.

 

During the year, interest of £6,000 (2022: £6,000) was charged in respect of this loan. At 31 March 2023, the balance of £306,000 (2022: £300,000) was outstanding in respect of this loan.

 

At the year end, the company was owed £60,000 (2022: £60,000) from Twahh Limited, a company controlled by a director. The amount advanced was interest free and repayable on demand.

2023-03-312022-04-01false31 October 2023CCH SoftwareCCH Accounts Production 2023.100No description of principal activityA D MarkouM D MarkouF M FerrisM G WoodS AnwarN J ChiltonB HakutizwiA D Markou037882102022-04-012023-03-31037882102023-03-31037882102022-03-3103788210core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-03-3103788210core:Non-standardIntangibleAssetClass2ComponentIntangibleAssetsOtherThanGoodwill2023-03-3103788210core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2022-03-3103788210core:Non-standardIntangibleAssetClass2ComponentIntangibleAssetsOtherThanGoodwill2022-03-3103788210core:LeaseholdImprovements2023-03-3103788210core:PlantMachinery2023-03-3103788210core:FurnitureFittings2023-03-3103788210core:LeaseholdImprovements2022-03-3103788210core:PlantMachinery2022-03-3103788210core:FurnitureFittings2022-03-3103788210core:Non-currentFinancialInstruments2022-03-3103788210core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3103788210core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3103788210core:CurrentFinancialInstruments2023-03-3103788210core:CurrentFinancialInstruments2022-03-3103788210core:ShareCapital2023-03-3103788210core:ShareCapital2022-03-3103788210core:SharePremium2023-03-3103788210core:SharePremium2022-03-3103788210core:CapitalRedemptionReserve2023-03-3103788210core:CapitalRedemptionReserve2022-03-3103788210core:RetainedEarningsAccumulatedLosses2023-03-3103788210core:RetainedEarningsAccumulatedLosses2022-03-3103788210bus:Director12022-04-012023-03-3103788210core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3103788210core:LeaseholdImprovementscore:LeasedAssetsHeldAsLessee2022-04-012023-03-3103788210core:PlantMachinery2022-04-012023-03-3103788210core:FurnitureFittings2022-04-012023-03-31037882102021-04-012022-03-3103788210core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2022-03-3103788210core:Non-standardIntangibleAssetClass2ComponentIntangibleAssetsOtherThanGoodwill2022-03-31037882102022-03-3103788210core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2022-04-012023-03-3103788210core:Non-standardIntangibleAssetClass2ComponentIntangibleAssetsOtherThanGoodwill2022-04-012023-03-3103788210core:LeaseholdImprovements2022-03-3103788210core:PlantMachinery2022-03-3103788210core:FurnitureFittings2022-03-3103788210core:LeaseholdImprovements2022-04-012023-03-3103788210core:WithinOneYear2023-03-3103788210core:WithinOneYear2022-03-3103788210core:BetweenTwoFiveYears2023-03-3103788210core:BetweenTwoFiveYears2022-03-3103788210core:MoreThanFiveYears2023-03-3103788210core:MoreThanFiveYears2022-03-3103788210bus:PrivateLimitedCompanyLtd2022-04-012023-03-3103788210bus:SmallCompaniesRegimeForAccounts2022-04-012023-03-3103788210bus:FRS1022022-04-012023-03-3103788210bus:AuditExemptWithAccountantsReport2022-04-012023-03-3103788210bus:Director22022-04-012023-03-3103788210bus:Director32022-04-012023-03-3103788210bus:Director42022-04-012023-03-3103788210bus:Director52022-04-012023-03-3103788210bus:Director62022-04-012023-03-3103788210bus:Director72022-04-012023-03-3103788210bus:CompanySecretary12022-04-012023-03-3103788210bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP