Company registration number 10161043 (England and Wales)
ASSURED DATA PROTECTION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
PAGES FOR FILING WITH REGISTRAR
ASSURED DATA PROTECTION LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2023
31 January 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
4
211,147
151,694
Tangible assets
5
1,546,057
1,026,371
Investments
6
100
1,757,304
1,178,065
Current assets
Debtors
7
2,265,864
1,213,735
Cash at bank and in hand
470,767
1,011,005
2,736,631
2,224,740
Creditors: amounts falling due within one year
8
(2,730,395)
(1,027,358)
Net current assets
6,236
1,197,382
Total assets less current liabilities
1,763,540
2,375,447
Creditors: amounts falling due after more than one year
9
(978,869)
(709,983)
Provisions for liabilities
(160,000)
Net assets
784,671
1,505,464
Capital and reserves
Called up share capital
10
200
100
Profit and loss reserves
784,471
1,505,364
Total equity
784,671
1,505,464
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
ASSURED DATA PROTECTION LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2023
31 January 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 25 October 2023 and are signed on its behalf by:
Mr S E Chappell
Director
Company Registration No. 10161043
ASSURED DATA PROTECTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
- 3 -
1
Accounting policies
Company information
Assured Data Protection Limited is a private company limited by shares incorporated in England and Wales. The registered office is 11a Harewood Yard, Harewood House Estate, Harewood, Leeds, LS17 9LF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 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 £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.3
Research and development expenditure
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Development costs
10% straight line
ASSURED DATA PROTECTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Equipment
20% straight line
Motor vehicles
25% reducing balance
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.
1.6
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.7
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
ASSURED DATA PROTECTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
1
Accounting policies
(Continued)
- 5 -
1.8
Cash and cash equivalents
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 within borrowings in current liabilities.
1.9
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.10
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
ASSURED DATA PROTECTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
1
Accounting policies
(Continued)
- 6 -
1.11
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.12
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.13
Share-based payments
Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.
When the terms and conditions of equity-settled share-based payments at the time they were granted are subsequently modified, the fair value of the share-based payment under the original terms and conditions and under the modified terms and conditions are both determined at the date of the modification. Any excess of the modified fair value over the original fair value is recognised over the remaining vesting period in addition to the grant date fair value of the original share-based payment. The share-based payment expense is not adjusted if the modified fair value is less than the original fair value.
Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.
1.14
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
ASSURED DATA PROTECTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 7 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
32
27
4
Intangible fixed assets
Other
£
Cost
At 1 February 2022
201,503
Additions
80,873
At 31 January 2023
282,376
Amortisation and impairment
At 1 February 2022
49,809
Amortisation charged for the year
21,420
At 31 January 2023
71,229
Carrying amount
At 31 January 2023
211,147
At 31 January 2022
151,694
ASSURED DATA PROTECTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 8 -
5
Tangible fixed assets
Equipment
Motor vehicles
Total
£
£
£
Cost
At 1 February 2022
2,489,312
9,248
2,498,560
Additions
950,950
950,950
At 31 January 2023
3,440,262
9,248
3,449,510
Depreciation and impairment
At 1 February 2022
1,467,493
4,696
1,472,189
Depreciation charged in the year
430,126
1,138
431,264
At 31 January 2023
1,897,619
5,834
1,903,453
Carrying amount
At 31 January 2023
1,542,643
3,414
1,546,057
At 31 January 2022
1,021,819
4,552
1,026,371
6
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
100
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 February 2022
-
Additions
100
At 31 January 2023
100
Carrying amount
At 31 January 2023
100
At 31 January 2022
-
ASSURED DATA PROTECTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 9 -
7
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
925,132
699,094
Other debtors
1,340,732
514,641
2,265,864
1,213,735
8
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
107,485
102,403
Trade creditors
532,695
71,410
Taxation and social security
257,201
297,026
Other creditors
1,833,014
556,519
2,730,395
1,027,358
9
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
345,084
278,929
Other creditors
633,785
431,054
978,869
709,983
10
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of 1p each
5,500
75
70
75
Ordinary B shares of 1p each
2,000
20
20
20
Ordinary C shares of 1p each
500
5
5
5
Ordinary D shares of 1p each
8,500
-
70
-
Ordinary E shares of 1p each
2,500
-
25
-
Ordinary F share of 1p each
500
-
5
-
Ordinary G shares of 1p each
500
-
5
-
20,000
100
200
100
During the year there was a subdivision of shares to make all the £1.00 ordinary shares into £0.01 shares. There was a reclassification of 15 of the ordinary A shares to ordinary D shares and 5 of the ordinary A shares to ordinary G shares. Also during the year a further 70 £0.01 ordinary D shares issued, along with 25 £0.01 ordinary E shares and 5 £0.01 ordinary F shares. All shares have the rights as per the Articles of Association.
ASSURED DATA PROTECTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 10 -
11
Share based payments
On 22nd January 2020 options were granted over the existing 5 ordinary C shares to 1 employee, the fair value at that time was £1 per share. The employee is entitled to exercise their option to acquire one C share at a time on a yearly basis over 5 years provided the Company’s accounts for the previous financial year showed earnings before interest, taxes, depreciation and amortisation that exceeded the budget of the Company for that financial year. The exercise price is £1.00 per share. In March 2021 the employee exercised one share at a price of £1. In May 2022 the employee exercised the remaining 4 shares at a price of £1 each.
12
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2023
2022
£
£
1,587,248
1,615,175
2023-01-312022-02-01false25 October 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityMr S ChappellMr R MackleMr A EvaS HayesMr S R Parkin101610432022-02-012023-01-31101610432023-01-31101610432022-01-3110161043core:IntangibleAssetsOtherThanGoodwill2023-01-3110161043core:IntangibleAssetsOtherThanGoodwill2022-01-3110161043core:ComputerEquipment2023-01-3110161043core:MotorVehicles2023-01-3110161043core:ComputerEquipment2022-01-3110161043core:MotorVehicles2022-01-3110161043core:CurrentFinancialInstrumentscore:WithinOneYear2023-01-3110161043core:CurrentFinancialInstrumentscore:WithinOneYear2022-01-3110161043core:Non-currentFinancialInstrumentscore:AfterOneYear2023-01-3110161043core:Non-currentFinancialInstrumentscore:AfterOneYear2022-01-3110161043core:CurrentFinancialInstruments2023-01-3110161043core:CurrentFinancialInstruments2022-01-3110161043core:Non-currentFinancialInstruments2023-01-3110161043core:Non-currentFinancialInstruments2022-01-3110161043core:ShareCapital2023-01-3110161043core:ShareCapital2022-01-3110161043core:RetainedEarningsAccumulatedLosses2023-01-3110161043core:RetainedEarningsAccumulatedLosses2022-01-3110161043core:ShareCapitalOrdinaryShares2023-01-3110161043core:ShareCapitalOrdinaryShares2022-01-3110161043bus:Director12022-02-012023-01-3110161043core:IntangibleAssetsOtherThanGoodwill2022-02-012023-01-3110161043core:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-02-012023-01-3110161043core:ComputerEquipment2022-02-012023-01-3110161043core:MotorVehicles2022-02-012023-01-31101610432021-02-012022-01-3110161043core:IntangibleAssetsOtherThanGoodwill2022-01-3110161043core:ComputerEquipment2022-01-3110161043core:MotorVehicles2022-01-31101610432022-01-3110161043core:WithinOneYear2023-01-3110161043core:WithinOneYear2022-01-3110161043bus:PrivateLimitedCompanyLtd2022-02-012023-01-3110161043bus:SmallCompaniesRegimeForAccounts2022-02-012023-01-3110161043bus:FRS1022022-02-012023-01-3110161043bus:AuditExemptWithAccountantsReport2022-02-012023-01-3110161043bus:Director22022-02-012023-01-3110161043bus:Director32022-02-012023-01-3110161043bus:Director42022-02-012023-01-3110161043bus:Director52022-02-012023-01-3110161043bus:FullAccounts2022-02-012023-01-31xbrli:purexbrli:sharesiso4217:GBP