Caseware UK (AP4) 2023.0.135 2023.0.135 AfalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.0false0true2024-01-01false 14935159 2023-12-31 14935159 2024-01-01 2024-07-31 14935159 2022-08-01 2023-12-31 14935159 2024-07-31 14935159 c:Director1 2024-01-01 2024-07-31 14935159 c:Director2 2024-01-01 2024-07-31 14935159 c:RegisteredOffice 2024-01-01 2024-07-31 14935159 d:PlantMachinery 2024-01-01 2024-07-31 14935159 d:PlantMachinery 2024-07-31 14935159 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-07-31 14935159 d:CurrentFinancialInstruments 2024-07-31 14935159 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 14935159 d:ShareCapital 2024-07-31 14935159 d:RetainedEarningsAccumulatedLosses 2024-07-31 14935159 d:AcceleratedTaxDepreciationDeferredTax 2024-07-31 14935159 d:TaxLossesCarry-forwardsDeferredTax 2024-07-31 14935159 c:FRS102 2024-01-01 2024-07-31 14935159 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-07-31 14935159 c:FullAccounts 2024-01-01 2024-07-31 14935159 c:PrivateLimitedCompanyLtd 2024-01-01 2024-07-31 14935159 e:PoundSterling 2024-01-01 2024-07-31 iso4217:GBP xbrli:pure
Registered number: 14935159













          Dynamiq Asset Holdings Limited
          Unaudited
          Financial statements
          For the period ended 31 July 2024















           img2566.png

 
Dynamiq Asset Holdings Limited
 
 
Company Information


Directors
J L Hill 
I S Hill 




Registered number
14935159



Registered office
Unit 3 Shackleton Way

Stafford

Staffordshire

ST16 1GY




Accountants
Dains Audit Limited

2 Chamberlain Square

Paradise Circus

Birmingham

B3 3AX





 
Dynamiq Asset Holdings Limited
 

Contents



Page
Balance Sheet
 
1
Notes to the Financial Statements
 
2 - 6


 
Dynamiq Asset Holdings Limited
Registered number:14935159

Balance sheet
As at 31 July 2024

2024
Note
£

Fixed assets
  

Tangible assets
 4 
395,997

Current assets
  

Debtors: amounts falling due within one year
 5 
14,038

Creditors: amounts falling due within one year
 6 
(380,857)

Net current liabilities
  
 
 
(366,819)

Deferred tax
  
(7,000)

Net liabilities
  
22,178


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
22,078

  
22,178


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 income and retained earnings 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 on 13 March 2025.


___________________________
J L Hill
Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
Dynamiq Asset Holdings Limited
 
 
Notes to the financial statements
For the period ended 31 July 2024

1.


General information

Dynamiq Asset Holdings Limited is a private company limited by shares, incorporated in the United Kingdom and registered in England and Wales. The registered number of the company is 14935159 and its registered office is Unit 3 Shackleton Way, Stafford, Staffordshire, ST16 1GY. The principal activity of the company is the rental of private helicopters to fellow group companies.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of at least twelve months from the date of approval of these financial statements. Thus they have concluded that it is reasonable to prepare the financial statements on a going concern basis.

 
2.3

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 2

 
Dynamiq Asset Holdings Limited
 
 
Notes to the financial statements
For the period ended 31 July 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the period 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 income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet 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 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.


 
2.5

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.

Depreciation is provided on the following basis:

Plant and machinery
-
5% - 20% 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.

Page 3

 
Dynamiq Asset Holdings Limited
 
 
Notes to the financial statements
For the period ended 31 July 2024

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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.

 
2.8

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 company has no employees other than the directors, who did not receive any remuneration.




Page 4

 
Dynamiq Asset Holdings Limited
 
 
Notes to the financial statements
For the period ended 31 July 2024

4.


Tangible fixed assets





Plant and machinery

£



Cost


Additions
416,359



At 31 July 2024

416,359



Depreciation


Charge for the period
20,362



At 31 July 2024

20,362



Net book value



At 31 July 2024
395,997


5.


Debtors

2024
£


Other debtors
5,192

Prepayments and accrued income
8,846

14,038


Page 5

 
Dynamiq Asset Holdings Limited
 
 
Notes to the financial statements
For the period ended 31 July 2024

6.


Creditors: Amounts falling due within one year

2024
£

Amounts owed to group undertakings
379,357

Accruals and deferred income
1,500

380,857


Amounts owed to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.


7.


Deferred taxation



2024


£






Charged to profit or loss
7,000



At end of year
7,000

The deferred taxation balance is made up as follows:

2024
£


Accelerated capital allowances
99,000

Tax losses carried forward
(92,000)

7,000


8.


Controlling party

At 31 July 2024, the immediate and ultimate parent undertaking is Dynamiq Engineering Limited, a company incorporated in England and Wales.
The group’s share capital is held wholly by the directors, J L Hill and I S Hill, in equal proportions, therefore there is no one ultimate controlling party.

 
Page 6