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REGISTERED NUMBER: 10589334 (England and Wales)



















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

DYNAMIC METRICS LIMITED

DYNAMIC METRICS LIMITED (REGISTERED NUMBER: 10589334)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DYNAMIC METRICS LIMITED

COMPANY INFORMATION
for the Year Ended 31 DECEMBER 2023







DIRECTORS: Dr D M Hodgins
Mr D J J Hodgins





REGISTERED OFFICE: 260 - 270 Butterfield
Great Marlings
Luton
Bedfordshire
LU2 8DL





BUSINESS ADDRESS: Codicote Innovation Centre
St Albans Road
Codicote
Herts
SG4 8WH





REGISTERED NUMBER: 10589334 (England and Wales)





ACCOUNTANTS: Foxley Kingham
Chartered Accountants
260 - 270 Butterfield
Great Marlings
Luton
Bedfordshire
LU2 8DL

DYNAMIC METRICS LIMITED (REGISTERED NUMBER: 10589334)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,778,623 2,984,112
Tangible assets 5 3,579 3,076
2,782,202 2,987,188

CURRENT ASSETS
Stocks 48,304 31,645
Debtors 6 252,218 64,054
Cash at bank and in hand 22,784 63,701
323,306 159,400
CREDITORS
Amounts falling due within one year 7 978,438 688,163
NET CURRENT LIABILITIES (655,132 ) (528,763 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,127,070

2,458,425

CREDITORS
Amounts falling due after more than one
year

8

(14,424

)

(20,833

)

PROVISIONS FOR LIABILITIES (8,660 ) -
NET ASSETS 2,103,986 2,437,592

CAPITAL AND RESERVES
Called up share capital 1,836 1,836
Share premium 3,255,465 3,255,465
Retained earnings (1,153,315 ) (819,709 )
2,103,986 2,437,592

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 directors acknowledge their 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.

DYNAMIC METRICS LIMITED (REGISTERED NUMBER: 10589334)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:





Dr D M Hodgins - Director


DYNAMIC METRICS LIMITED (REGISTERED NUMBER: 10589334)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 DECEMBER 2023

1. STATUTORY INFORMATION

Dynamic Metrics 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.

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


2. ACCOUNTING POLICIES

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

Preparation of consolidated financial statements
The financial statements contain information about Dynamic Metrics Limited as an individual company and do not contain consolidated financial information about the group. The company is exempt under Section 399 of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Other intangible assets represent capitalised development costs and is amortised over a period of 10 years from when the asset is brought into use. This period is considered to be the assets useful life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on reducing balance

All tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

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.


DYNAMIC METRICS LIMITED (REGISTERED NUMBER: 10589334)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 January 2023 140,000 2,928,112 3,068,112
Additions - 111,918 111,918
At 31 December 2023 140,000 3,040,030 3,180,030
AMORTISATION
At 1 January 2023 84,000 - 84,000
Charge for year 14,000 303,407 317,407
At 31 December 2023 98,000 303,407 401,407
NET BOOK VALUE
At 31 December 2023 42,000 2,736,623 2,778,623
At 31 December 2022 56,000 2,928,112 2,984,112

In January 2021, an independent audit and valuation report valued the intangible assets at £4.4m, based on a weighted average of cost and income models.

DYNAMIC METRICS LIMITED (REGISTERED NUMBER: 10589334)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2023 9,995
Additions 2,266
At 31 December 2023 12,261
DEPRECIATION
At 1 January 2023 6,919
Charge for year 1,763
At 31 December 2023 8,682
NET BOOK VALUE
At 31 December 2023 3,579
At 31 December 2022 3,076

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 215,200 7,001
Tax 36,687 48,755
VAT 331 8,298
252,218 64,054

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 6,409 6,409
Trade creditors 17,882 54,755
Taxation and social security 6,348 4,427
Other creditors 106,210 95,185
Director's current account 4,755 2,553
Accruals and deferred income 836,834 524,834
978,438 688,163

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1 -2 years 6,409 6,409
Bank loans - 2-5 years 8,015 14,424
14,424 20,833

DYNAMIC METRICS LIMITED (REGISTERED NUMBER: 10589334)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2023

9. SECURED DEBTS

Kriya Finance Limited hold a fixed and floating charge over all assets of the company.

10. RELATED PARTY DISCLOSURES

The company operates out of Codicote Innovation Centre which is owned by the directors Mr D Hodgins and Dr D Hodgins. Rent of £32,400 has been charged to the company in respect of this within the year ended 31 December 2023 (2022: £30,000).

In order to control cash flow the two Directors have deferred payment of their salaries until the company is in a better position