IRIS Accounts Production v24.1.0.578 01682794 director 1.1.23 31.12.23 31.12.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh016827942022-12-31016827942023-12-31016827942023-01-012023-12-31016827942021-12-31016827942022-01-012022-12-31016827942022-12-3101682794ns15:EnglandWales2023-01-012023-12-3101682794ns14:PoundSterling2023-01-012023-12-3101682794ns10:Director12023-01-012023-12-3101682794ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3101682794ns10:SmallEntities2023-01-012023-12-3101682794ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3101682794ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3101682794ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3101682794ns10:FullAccounts2023-01-012023-12-3101682794ns10:OrdinaryShareClass12023-01-012023-12-3101682794ns10:RegisteredOffice2023-01-012023-12-3101682794ns5:CurrentFinancialInstruments2023-12-3101682794ns5:CurrentFinancialInstruments2022-12-3101682794ns5:ShareCapital2023-12-3101682794ns5:ShareCapital2022-12-3101682794ns5:RetainedEarningsAccumulatedLosses2023-12-3101682794ns5:RetainedEarningsAccumulatedLosses2022-12-3101682794ns5:LeaseholdImprovements2023-01-012023-12-3101682794ns5:PlantMachinery2023-01-012023-12-3101682794ns5:FurnitureFittings2023-01-012023-12-3101682794ns5:ComputerEquipment2023-01-012023-12-3101682794ns5:LeaseholdImprovements2022-12-3101682794ns5:PlantMachinery2022-12-3101682794ns5:FurnitureFittings2022-12-3101682794ns5:ComputerEquipment2022-12-3101682794ns5:LeaseholdImprovements2023-12-3101682794ns5:PlantMachinery2023-12-3101682794ns5:FurnitureFittings2023-12-3101682794ns5:ComputerEquipment2023-12-3101682794ns5:LeaseholdImprovements2022-12-3101682794ns5:PlantMachinery2022-12-3101682794ns5:FurnitureFittings2022-12-3101682794ns5:ComputerEquipment2022-12-3101682794ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3101682794ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3101682794ns5:WithinOneYear2023-12-3101682794ns5:WithinOneYear2022-12-3101682794ns5:BetweenOneFiveYears2023-12-3101682794ns5:BetweenOneFiveYears2022-12-3101682794ns5:AllPeriods2023-12-3101682794ns5:AllPeriods2022-12-3101682794ns10:OrdinaryShareClass12023-12-31
REGISTERED NUMBER: 01682794 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Applied Dynamics International Limited

Applied Dynamics International Limited (Registered number: 01682794)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 6


Applied Dynamics International Limited

Company Information
for the year ended 31 December 2023







DIRECTOR: Mr S James





REGISTERED OFFICE: The Conference Centre
Chapel Street
Melbourne
Derbyshire
DE73 8EH





REGISTERED NUMBER: 01682794 (England and Wales)





ACCOUNTANTS: Clifford Roberts
Chartered Accountants
Pacioli House
9 Brookfield
Duncan Close
Northampton
Northamptonshire
NN3 6WL

Applied Dynamics International Limited (Registered number: 01682794)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,070 3,487

CURRENT ASSETS
Stocks 57 57
Debtors 5 188,245 100,160
Cash at bank 18,281 23,531
206,583 123,748
CREDITORS
Amounts falling due within one year 6 99,461 39,725
NET CURRENT ASSETS 107,122 84,023
TOTAL ASSETS LESS CURRENT
LIABILITIES

108,192

87,510

CAPITAL AND RESERVES
Called up share capital 9 150,000 150,000
Retained earnings (41,808 ) (62,490 )
SHAREHOLDERS' FUNDS 108,192 87,510

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 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 director and authorised for issue on 30 April 2024 and were signed by:





Mr S James - Director


Applied Dynamics International Limited (Registered number: 01682794)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Applied Dynamics International Limited 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

Basis of preparing the financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 section 1A - "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102 section 1A") and with the Companies Act 2006. The financial statements have been prepared on the historical cost basis.

The financial statements are presented in sterling (£) and cover the period to 31st December each year.

Going concern
The accounts have been prepared on a going concern basis. This assumes that the company will receive the continued support of its holding company for a period of at least one year from the date the accounts were approved.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax.

Turnover represents net invoiced sales relating to maintenance contracts and hardware sales. During the year £631,076 of turnover related to overseas sales (2022: £525,000).

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - Over the life of the lease
Plant and machinery and equipment - 20% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 20% on cost

Stocks
Stocks are stated at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate 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 undiscounted cost less impairment losses for bad and doubtful debts.

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 undiscounted cost.


Applied Dynamics International Limited (Registered number: 01682794)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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. Forward foreign currency purchases are initially recognised at fair value on the date they are entered into and are subsequently remeasured at their fair value. Changes in the fair value are recognised in the income statement with the corresponding entry being a derivative asset or liability in the balance sheet.

Leasing commitments
Rentals under operating leases are charged on a straight line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight line basis over the lease term.

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.

Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the balance sheet.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

Applied Dynamics International Limited (Registered number: 01682794)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and
Improvements machinery Fixtures
to and and Computer
property equipment fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2023
and 31 December 2023 512 1,491 8,540 9,494 20,037
DEPRECIATION
At 1 January 2023 512 1,464 7,301 7,273 16,550
Charge for year - 17 1,231 1,169 2,417
At 31 December 2023 512 1,481 8,532 8,442 18,967
NET BOOK VALUE
At 31 December 2023 - 10 8 1,052 1,070
At 31 December 2022 - 27 1,239 2,221 3,487

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 175,382 90,465
Other debtors 3,387 3,728
VAT 5,972 1,998
Prepayments 3,504 3,969
188,245 100,160

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 79,480 11,964
Social security and other taxes 14,397 20,169
Other creditors 34 34
Accruals and deferred income 5,550 7,558
99,461 39,725

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 37,474 37,474
Between one and five years 43,993 81,468
81,467 118,942

Applied Dynamics International Limited (Registered number: 01682794)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

8. FINANCIAL INSTRUMENTS

Exposure to foreign currency, credit, liquidity and market risks arise in the normal course of company's business. These risks are limited by the company's financial management policies and practices described below.

Foreign currency risk
The company has exposure to foreign currency risks as some of the company's purchases and sales are in a denomination other than sterling. The risk is limited by selling and buying foreign currency as and when the exchange rate favours the company.

Credit risk
The company has exposure to credit risks predominantly emanating from its customers. The company's exposure and its customers' credit worthiness is continually monitored so that any potential problems are detected at an early stage.

Liquidity risk
The directors have ultimate responsibility for liquidity risk management in maintaining adequate reserves and banking facilities.

Market risk
There is a market risk associated with the fluctuation in demand for the services and products provided by the company. Most of this is mitigated by monitoring the markets continually to ensure that overheads and costs are tailored to the demand for the services and products offered.

The company holds no derivative financial instruments at the year end.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
150,000 Ordinary £1 150,000 150,000

10. RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the entity

2023 2022
£ £
Amounts owed by parent company 175,382 90,465
Sales to parent company 627,000 525,000
Expenses rebilled to parent company 229,505 172,531
Payments received from parent company 787,000 709,536
Payments made to parent company 90,287 94,000

These amounts are interest free, repayable upon demand and are included in amounts owed to or by group undertakings.

11. ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent company is Applied Dynamics International Inc, a company incorporated in the USA, which holds 100% of the issued share capital.

The group financial statements are available from Applied Dynamics International Inc, 3800 Stone School Road, Ann Arbor, MI 48108-2414, USA.

The group is controlled by the director Mr S James.