Dynamic Thermal Systems Ltd
Filleted accounts
31 August 2025
Company registration number:
14267273
Dynamic Thermal Systems Ltd
Directors and other information
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Directors |
Dr Qiang Zhang |
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Prof A I Sayma |
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B Richards |
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Company number |
14267273 |
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Registered office |
Unit 8 Boundary Business Park |
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Wheatley Road |
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Garsington |
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Oxfordshire |
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OX44 9EJ |
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Accountants |
Cox Hinkins & Co. Limited |
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Accountants and Taxation Advisors |
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The Old Dairy |
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12 Stephen Road |
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Headington |
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Oxford |
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OX3 9AY |
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Dynamic Thermal Systems Ltd
Balance sheet
31st August 2025
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2025 |
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2024 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Tangible assets |
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5 |
789 |
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1,212 |
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_______ |
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_______ |
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789 |
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1,212 |
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Current assets |
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Debtors |
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6 |
9,884 |
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10,177 |
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Cash at bank and in hand |
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12,272 |
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18,217 |
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_______ |
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_______ |
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22,156 |
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28,394 |
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Creditors: amounts falling due |
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within one year |
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7 |
(
61,364) |
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(
8,713) |
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_______ |
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_______ |
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Net current (liabilities)/assets |
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(
39,208) |
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19,681 |
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_______ |
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_______ |
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Net (liabilities)/assets |
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(
38,419) |
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20,893 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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8 |
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114 |
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114 |
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Share premium account |
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34,986 |
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34,986 |
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Profit and loss account |
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(
73,519) |
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(
14,207) |
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_______ |
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_______ |
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Shareholders (deficit)/funds |
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(
38,419) |
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20,893 |
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_______ |
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_______ |
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For the year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit & loss account has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
21 May 2026
, and are signed on behalf of the board by:
Dr Qiang Zhang
Director
Company registration number:
14267273
Dynamic Thermal Systems Ltd
Notes to the financial statements
Year ended 31st August 2025
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Unit 8 Boundary Business Park, Wheatley Road, Garsington, Oxfordshire, OX44 9EJ.
There was no significant change in the company's principal activity during the year which continued to be research and development in advanced air source heat pump technology.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis
. The principal accounting policies are set out below. The financial statements are prepared in sterling which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is not recognised in respect of any timing differences at the reporting date as all are insignificant. Unrelieved tax losses and other deferred tax assets are not recognised as it is uncertain when they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
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Fittings fixtures and equipment |
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20-50% Straight line |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractualarrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
10
(2024:
3
).
5.
Tangible assets
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Fixtures, fittings and equipment |
Total |
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£ |
£ |
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Cost |
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At 1st September 2024 and 31st August 2025 |
1,635 |
1,635 |
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_______ |
_______ |
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Depreciation |
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At 1st September 2024 |
423 |
423 |
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Charge for the year |
423 |
423 |
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_______ |
_______ |
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At 31st August 2025 |
846 |
846 |
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_______ |
_______ |
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Carrying amount |
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At 31st August 2025 |
789 |
789 |
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_______ |
_______ |
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At 31st August 2024 |
1,212 |
1,212 |
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_______ |
_______ |
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6.
Debtors
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2025 |
2024 |
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£ |
£ |
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Other debtors |
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9,884 |
10,177 |
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_______ |
_______ |
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7.
Creditors: amounts falling due within one year
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2025 |
2024 |
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£ |
£ |
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Bank loans and overdrafts |
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35,000 |
- |
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Social security and other taxes |
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6,684 |
1,541 |
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Other creditors |
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19,680 |
7,172 |
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_______ |
_______ |
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61,364 |
8,713 |
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_______ |
_______ |
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8.
Called up share capital
Issued and called up
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No |
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£ |
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No |
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£ |
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Ordinary shares of £0.0001 each |
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1,140,000 |
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114 |
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1,140,000 |
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114 |
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_______ |
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