Company No:
Contents
DIRECTOR | Dr Hans-Juergen Hoppe |
REGISTERED OFFICE | 71-75 Shelton Street |
Covent Garden | |
London | |
WC2H 9JQ | |
United Kingdom |
COMPANY NUMBER | 12587645 (England and Wales) |
ACCOUNTANT | Peters Elworthy & Moore |
Salisbury House | |
Station Road | |
Cambridge | |
CB1 2LA |
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Intangible assets | 3 |
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Tangible assets | 4 |
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Investments | 5 |
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56,977 | 55,383 | |||
Current assets | ||||
Debtors | 6 |
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Cash at bank and in hand |
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4,912 | 24,678 | |||
Creditors: amounts falling due within one year | 7 | (
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Net current (liabilities)/assets | (60,545) | 6,296 | ||
Total assets less current liabilities | (3,568) | 61,679 | ||
Provision for liabilities | 8 |
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Net (liabilities)/assets | (
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Capital and reserves | ||||
Called-up share capital | 9 |
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Profit and loss account | (
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Total shareholder's (deficit)/funds | (
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Director's responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Dainomics Limited (registered number:
Dr Hans-Juergen Hoppe
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Dainomics Limited (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 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ, United Kingdom.
The principal trading address is 66 High Street, Bassingbourn, Royston, SG8 5LF.
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 £.
The Company had net liabilities at the balance sheet date. The financial statements have been prepared on the going concern basis which assumes that the Company will continue as a going concern for the foreseeable future. The trading losses reported to date are consistent with the company's business plan as it progresses its research and development activities.
Given the development progress achieved, the director has a reasonable expectation that the Company will be able to meet its liabilities as they fall due for the foreseeable future and therefore continues to adopt the going concern basis.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Turnover in respect of contracts is recognised as work is carried out by reference to the stage of completion of the contract at the balance sheet date, and when this can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet 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 balance sheet date.
Other intangible assets |
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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.
Depreciation is provided on the following basis:
Plant and machinery |
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Vehicles |
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Fixtures and fittings |
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Office equipment |
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Computer equipment |
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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.
Rentals paid under operating leases are charged to the profit or loss on a straight-line basis over the lease term.
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
Research and development expenditure is recognised in the Profit and Loss Account in the period in which the expenditure is incurred.
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Other intangible assets | Total | ||
£ | £ | ||
Cost | |||
At 01 June 2023 |
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Additions |
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At 31 May 2024 |
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Accumulated amortisation | |||
At 01 June 2023 |
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Charge for the financial year |
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At 31 May 2024 |
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Net book value | |||
At 31 May 2024 |
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At 31 May 2023 |
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Plant and machinery | Vehicles | Fixtures and fittings | Office equipment | Computer equipment | Total | ||||||
£ | £ | £ | £ | £ | £ | ||||||
Cost | |||||||||||
At 01 June 2023 |
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Additions |
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At 31 May 2024 |
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Accumulated depreciation | |||||||||||
At 01 June 2023 |
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Charge for the financial year |
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At 31 May 2024 |
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Net book value | |||||||||||
At 31 May 2024 |
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At 31 May 2023 |
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Other investments | Total | ||
£ | £ | ||
Cost or valuation before impairment | |||
At 01 June 2023 |
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Additions |
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At 31 May 2024 |
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Carrying value at 31 May 2024 |
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Carrying value at 31 May 2023 |
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2024 | 2023 | ||
£ | £ | ||
Corporation tax |
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Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Trade creditors |
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Other creditors |
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2024 | 2023 | ||
£ | £ | ||
At the beginning of financial year | (
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Credited/(charged) to the Statement of Income and Retained Earnings |
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At the end of financial year |
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2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Other financial commitments
2024 | 2023 | ||
£ | £ | ||
Commitments due within one year | 11,209 | 11,031 | |
Commitments due in more than one year | 14,945 | 26,154 | |
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At the time dividends were declared the director was not aware there were insufficient profits available for distribution. The director acknowledges that no further distributions can be made until there are sufficient profits available for that purpose.