REGISTERED NUMBER: 13117199 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

DYNAMITI LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M J Agutter

T J Mears

REGISTERED OFFICE:

Equinox House

Clifton Park Avenue

York

YO30 5PA

REGISTERED NUMBER:

13117199 (England and Wales)

ACCOUNTANTS:

Fortus Limited

Business Advisors & Accountants

Equinox House

Clifton Park, Shipton Road

York

Yorkshire

YO30 5PA

FIXED ASSETS

Tangible assets

4

49

66

CURRENT ASSETS

Debtors

5

59,041

29,485

Cash at bank

11,671

55,686

70,712

85,171

CREDITORS

Amounts falling due within one year

6

285,935

319,598

NET CURRENT LIABILITIES

(215,223

)

(234,427

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(215,174

)

(234,361

)

CAPITAL AND RESERVES

Called up share capital

7

1

1

Retained earnings

(215,175

)

(234,362

)

SHAREHOLDERS' FUNDS

(215,174

)

(234,361

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

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 30 September 2025 and were signed on its behalf by:

M J Agutter - Director

1.	STATUTORY INFORMATION

Dynamiti 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 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.

These financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

Turnover

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

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.

Plant and machinery etc

-

10% on cost

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.

The company has estimated losses of £265,801 (2023: £285,005) available to carry forward against future trading profits.

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.

Going concern

At the time of approving the financial statements, the balance sheet shows negative reserves, However the major creditor of the company, Axon-IT.com Ltd is owned by the same parent company MGT Holdings Limited. The directors of the parent company confirm their intention to continue to support the company for the foreseeable future.

Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months

or less, and bank overdrafts. Bank overdrafts are shown with borrowings in current liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

157

DEPRECIATION

At 1 April 2024

91

Charge for year

17

At 31 March 2025

108

NET BOOK VALUE

At 31 March 2025

49

At 31 March 2024

66

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

59,040

28,800

Other debtors

1

685

59,041

29,485

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Taxation and social security

9,390

4,512

Other creditors

276,545

315,086

285,935

319,598

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1

Ordinary

1

1

1

8.	RELATED PARTY DISCLOSURES

Included within ''Other Creditors'' is £274,816 (2024: £313,040) due to Axon-IT.Com Ltd, a company related by mutual ownership. Also included within Trade Debtors is a balance of £59,040 (2024: £28,800) due from Axon-IT. Com Limited.

9.	ULTIMATE CONTROLLING PARTY

The company is wholly owned subsidiary of MGT Holdings Limited, a company registered in England and Wales, which is the immediate and ultimate parent undertaking, MGT Holdings Limited is not required to prepare group accounts.