Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31true2023-01-01falseDesign and development of motion generators and driving simulators.4824falsefalse 10923412 2023-01-01 2023-12-31 10923412 2021-09-01 2022-12-31 10923412 2023-12-31 10923412 2022-12-31 10923412 2021-09-01 10923412 1 2023-01-01 2023-12-31 10923412 d:Director2 2023-01-01 2023-12-31 10923412 d:Director3 2023-01-01 2023-12-31 10923412 c:Buildings c:ShortLeaseholdAssets 2023-01-01 2023-12-31 10923412 c:Buildings c:ShortLeaseholdAssets 2023-12-31 10923412 c:Buildings c:ShortLeaseholdAssets 2022-12-31 10923412 c:PlantMachinery 2023-01-01 2023-12-31 10923412 c:PlantMachinery 2023-12-31 10923412 c:PlantMachinery 2022-12-31 10923412 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10923412 c:MotorVehicles 2023-01-01 2023-12-31 10923412 c:MotorVehicles 2023-12-31 10923412 c:MotorVehicles 2022-12-31 10923412 c:MotorVehicles c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10923412 c:OfficeEquipment 2023-01-01 2023-12-31 10923412 c:OfficeEquipment 2023-12-31 10923412 c:OfficeEquipment 2022-12-31 10923412 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10923412 c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10923412 c:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 10923412 c:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 10923412 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 10923412 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 10923412 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 10923412 c:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 10923412 c:CurrentFinancialInstruments 2023-12-31 10923412 c:CurrentFinancialInstruments 2022-12-31 10923412 c:Non-currentFinancialInstruments 2023-12-31 10923412 c:Non-currentFinancialInstruments 2022-12-31 10923412 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 10923412 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 10923412 c:Non-currentFinancialInstruments c:AfterOneYear 2023-12-31 10923412 c:Non-currentFinancialInstruments c:AfterOneYear 2022-12-31 10923412 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-12-31 10923412 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2022-12-31 10923412 c:ShareCapital 2023-12-31 10923412 c:ShareCapital 2022-12-31 10923412 c:ShareCapital 2021-09-01 10923412 c:SharePremium 2023-12-31 10923412 c:SharePremium 2022-12-31 10923412 c:SharePremium 2021-09-01 10923412 c:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 10923412 c:RetainedEarningsAccumulatedLosses 2023-12-31 10923412 c:RetainedEarningsAccumulatedLosses 2021-09-01 2022-12-31 10923412 c:RetainedEarningsAccumulatedLosses 2022-12-31 10923412 c:RetainedEarningsAccumulatedLosses 2021-09-01 10923412 d:FRS102 2023-01-01 2023-12-31 10923412 d:Audited 2023-01-01 2023-12-31 10923412 d:FullAccounts 2023-01-01 2023-12-31 10923412 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10923412 d:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 10923412 c:PatentsTrademarksLicencesConcessionsSimilar c:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 10923412 c:DevelopmentCostsCapitalisedDevelopmentExpenditure c:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 10923412 2 2023-01-01 2023-12-31 10923412 c:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 10923412 c:PatentsTrademarksLicencesConcessionsSimilar c:OwnedIntangibleAssets 2023-01-01 2023-12-31 10923412 c:DevelopmentCostsCapitalisedDevelopmentExpenditure c:OwnedIntangibleAssets 2023-01-01 2023-12-31 10923412 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 10923412
















DYNISMA LTD.




FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023


































img1d82.png


DYNISMA LTD.
REGISTERED NUMBER:10923412

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

31 December 2023
Unaudited 31 December 2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
3,573,656
2,101,789

Tangible assets
 5 
1,019,228
297,691

  
4,592,884
2,399,480

Current assets
  

Stocks
  
1,325,004
129,443

Debtors
 6 
2,665,501
1,403,118

Cash at bank and in hand
  
3,547,844
2,281,476

  
7,538,349
3,814,037

Creditors: amounts falling due within one year
 7 
(7,857,895)
(3,111,270)

Net current (liabilities)/assets
  
 
 
(319,546)
 
 
702,767

Total assets less current liabilities
  
4,273,338
3,102,247

Creditors: amounts falling due after more than one year
 8 
(475,377)
(991,155)

Provisions for liabilities
  

Other provisions
  
(96,906)
(21,000)

  
 
 
(96,906)
 
 
(21,000)

Net assets
  
3,701,055
2,090,092


Capital and reserves
  

Called up share capital 
  
164
164

Share premium account
  
2,749,885
2,749,885

Profit and loss account
  
951,006
(659,957)

  
3,701,055
2,090,092


The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


Page 1


DYNISMA LTD.
REGISTERED NUMBER:10923412
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023




R J Cook
P A Jelley
Director
Director


Date: 8 October 2024

The notes on pages 5 to 16 form part of these financial statements.

Page 2


DYNISMA LTD.


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£

At 1 January 2023 - Unaudited
164
2,749,885
(659,957)
2,090,092



Profit for the year
-
-
1,610,963
1,610,963


At 31 December 2023
164
2,749,885
951,006
3,701,055


The notes on pages 5 to 16 form part of these financial statements.

Page 3


DYNISMA LTD.


STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2022


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£

At 1 September 2021
164
2,749,885
447,876
3,197,925



Loss for the period
-
-
(1,107,833)
(1,107,833)


At 31 December 2022 - Unaudited
164
2,749,885
(659,957)
2,090,092


The notes on pages 5 to 16 form part of these financial statements.

Page 4


DYNISMA LTD.

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


GENERAL INFORMATION

Dynisma 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 C/O Dynisma Manufacturing Centre, Redwood Farm, Barrow Gurney, BS48 3RE, 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 and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £. 

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a positive 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 15 months from the date of signing these financial statements. The Company is expanding rapidly and has prepared forecasts which reflect both contracted revenue and uncontracted revenue, in varying stages of negotiation, and the anticipated margins and related cash flows that should be generated. The directors note that the Company has a supportive shareholder base and are confident that they would assist should any additional capital be required. Accordingly, they continue to adopt the going concern basis in preparing the financial statements. 

Page 5


DYNISMA LTD.

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (continued)

 
2.3

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Long-term contracts
Profit on long-term contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a consistent basis to reflect the proportion of the work carried out at the year end, by recognising the profit element on a basis of percentage of actual staff costs incurred to date compared to the latest forecasts. 
Revenue is calculated based on the stage of completion of each contract which is derived from the amount of costs incurred to date. Revenues derived from variations on contracts are recognised only when they have been accepted by the customer. 

 
2.5

OPERATING LEASES: THE COMPANY AS LESSEE

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 6


DYNISMA LTD.

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (continued)

  
2.6

RESEARCH AND DEVELOPMENT

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives of 7 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.7

GOVERNMENT GRANTS

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.8

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.9

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.

 
2.10

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.11

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 7


DYNISMA LTD.

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (continued)

 
2.12

SHARE-BASED PAYMENTS

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each reporting date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.
The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme).
Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.
Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.

 
2.13

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 8


DYNISMA LTD.

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (continued)

 
2.14

INTANGIBLE ASSETS

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Development expenditure
-
7
years
Patents
-
7
years

Page 9


DYNISMA LTD.

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (continued)

 
2.15

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Short-term leasehold property
-
5
years staright line
Plant and machinery
-
3
years straight line
Motor vehicles
-
3
years straight line
Office equipment
-
5
years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.16

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.17

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.18

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.19

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 10


DYNISMA LTD.

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (continued)

 
2.20

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


EMPLOYEES

The average monthly number of employees, including the directors, during the year was as follows:


Year ended 31 December 2023
Unaudited 16 months ended 31 December 2022
            No.
            No.







Total
48
24

Page 11


DYNISMA LTD.

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


INTANGIBLE ASSETS




Patents
Development expenditure
Total

£
£
£



COST


At 1 January 2023 - Unaudited
16,779
2,367,211
2,383,990


Additions
85,233
1,821,957
1,907,190



At 31 December 2023

102,012
4,189,168
4,291,180



AMORTISATION


At 1 January 2023 - Unaudited
-
282,201
282,201


Charge for the year
6,037
429,286
435,323



At 31 December 2023

6,037
711,487
717,524



NET BOOK VALUE



At 31 December 2023
95,975
3,477,681
3,573,656



At 31 December 2022 - Unaudited
16,779
2,085,010
2,101,789


Page 12


DYNISMA LTD.

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


TANGIBLE FIXED ASSETS





Short-term leasehold property
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



COST OR VALUATION


At 1 January 2023 - Unaudited
67,493
201,652
12,088
149,331
430,564


Additions
110,571
680,377
-
107,692
898,640



At 31 December 2023

178,064
882,029
12,088
257,023
1,329,204



DEPRECIATION


At 1 January 2023 - Unaudited
10,046
66,688
6,969
49,170
132,873


Charge for the year
19,736
117,024
1,575
38,768
177,103



At 31 December 2023

29,782
183,712
8,544
87,938
309,976



NET BOOK VALUE



At 31 December 2023
148,282
698,317
3,544
169,085
1,019,228



At 31 December 2022 - Unaudited
57,447
134,964
5,119
100,161
297,691

Page 13


DYNISMA LTD.

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


DEBTORS


2023
Unaudited 2022
£
£



Trade debtors
984,472
-

Other debtors
367,214
101,461

Prepayments and accrued income
231,604
219,446

Deferred taxation
1,082,211
1,082,211

2,665,501
1,403,118



7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
Unaudited 2022
£
£

Bank loans
10,648
10,648

Other loans
-
318,612

Trade creditors
2,640,695
380,674

Other taxation and social security
119,669
101,217

Other creditors
65,189
37,037

Accruals and deferred income
5,021,694
2,263,082

7,857,895
3,111,270


The following liabilities were secured:

2023
Unaudited 2022
£
£



Bank loans
10,648
10,648

10,648
10,648

Details of security provided:

The bank loans are secured by way of a fixed and floating charge over the assets of the company.

Page 14


DYNISMA LTD.

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023
Unaudited 2022
£
£

Bank loans
15,377
25,803

Accruals and deferred income
460,000
965,352

475,377
991,155


The following liabilities were secured:

2023
Unaudited 2022
£
£



Bank loans
15,377
25,803

15,377
25,803

Details of security provided:

The bank loans are secured by way of a fixed and floating charge over the assets of the company.


9.


LOANS


Analysis of the maturity of loans is given below:


2023
Unaudited 2022
£
£

AMOUNTS FALLING DUE WITHIN ONE YEAR

Bank loans
10,648
10,648

Other loans
-
318,612


10,648
329,260


AMOUNTS FALLING DUE 2-5 YEARS

Bank loans
15,377
25,803


15,377
25,803


26,025
355,063


Page 15


DYNISMA LTD.

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


PENSION COMMITMENTS

The Company operates a defined contribution scheme for the directors and employees.  The assets of the scheme are held separately from those of the Company in an independently administered fund.
At the year end, there were unpaid contributions due to the fund of £29,087 (2022: £13,810).


11.


POST BALANCE SHEET EVENTS

As part of the structured financing developments of the Company, it arranged a sale and hire purchase agreement for £1.2m in April 2024 and a bank loan for £1.5m in September 2024.   


12.


AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The comparative figures within these financial statements have not been audited, as the company took advantage of the exemption under s477 of the Companies Act 2006.

The audit report was signed on 8 October 2024 by John Talbot FCA (Senior statutory auditor) on behalf of Bishop Fleming LLP.

 
Page 16