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REGISTERED NUMBER: 06351416 (England and Wales)












GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

TRANSPORTATION DATA SURVEYS LIMITED

TRANSPORTATION DATA SURVEYS LIMITED (REGISTERED NUMBER: 06351416)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
for the year ended 31 March 2023




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Consolidated Income Statement 8

Consolidated Other Comprehensive Income 9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Cash Flow Statement 14

Notes to the Consolidated Cash Flow Statement 15

Notes to the Consolidated Financial Statements 17


TRANSPORTATION DATA SURVEYS LIMITED

COMPANY INFORMATION
for the year ended 31 March 2023







DIRECTORS: G O'Regan
Mrs M O'Regan



SECRETARY: Mrs M O'Regan



REGISTERED OFFICE: Haseley Office Centre
Firs Lane
Haseley
Warwick
Warwickshire
CV35 7LS



REGISTERED NUMBER: 06351416 (England and Wales)



SENIOR STATUTORY AUDITOR: Wayne Gutteridge FCA



AUDITORS: Harrison Beale & Owen Limited
Chartered Accountants and Statutory Auditors
Seven Stars House
1 Wheler Road
Coventry
CV3 4LB

TRANSPORTATION DATA SURVEYS LIMITED (REGISTERED NUMBER: 06351416)

GROUP STRATEGIC REPORT
for the year ended 31 March 2023

The directors present their strategic report of the company and the group for the year ended 31 March 2023.

The Transportation Data Surveys Group trades primarily through the subsidiaries operating under the Nationwide Data Collection name.

Nationwide Data Collection (NDC) - Background information

NDC has four regional offices in the UK. We have a Scottish office located in Glasgow, a Northern office located in Ossett, this office also houses our specialist video survey & ANPR division. Our Midlands office is located in Warwick, our ATC division is based at this office. Finally, we have a Southern office located in Greenwich, London. We have two regional offices in Ireland, these are located in Dublin and Athlone. We also have an office in the Netherlands which provides data collection throughout mainland Europe. All of these offices provide a quality data collection service to public and private sector clients.

The traffic data collected by NDC is generally used to assist planning applications or major development projects e.g. HS2, new road and infrastructure schemes. Smaller developments such as new shopping centres or residential sites also require traffic data to help progress planning applications. Other uses of traffic data is to provide Government departments with statistical information so that they can report local and national trends e.g. increases or decreases in the patronage of public transport (rail and bus), cycle usage, car journeys, etc.

The vast majority of data collection projects are undertaken during "neutral" periods when traffic conditions are deemed to be representative of normal travel patterns. Data collection is not normally undertaken during school holidays or close to bank holidays. Data collection is also generally avoided at locations where traffic flows could be influenced by a major event e.g. large sports meeting, diversions due to roadworks, public demonstrations, etc..


TRANSPORTATION DATA SURVEYS LIMITED (REGISTERED NUMBER: 06351416)

GROUP STRATEGIC REPORT
for the year ended 31 March 2023

REVIEW OF BUSINESS
Nationwide Data Collection (NDC) - Review of Business

In March 2020 the UK (like the rest of the world) was infected by Covid, the Government issued instructions that members of the public should, wherever possible, work from home, restaurants, bars, sports venues, cinemas, theatres, etc were closed as were many schools and public buildings. Travel on public transport (rail, underground, buses, aircraft) virtually ceased, road travel also substantially declined.

The effect of Covid was devastating for the data collection industry as travel patterns were clearly not representative of normal conditions. Many of our competitors made large numbers of staff redundant or ceased trading. NDC was fortunate insofar that the DfT (a major Government client) whom we have a long-term monitoring contract with decided to continue collecting data during the two years when various Covid restrictions applied. The data collected provided the Government with statistical information which enabled them to report the decline in travel throughout Covid and the subsequent increase since March 2022. This work provided a small but much needed and appreciated income stream throughout the Covid years.

The effect of trading during the Covid era is very evident from historical accounts, the three pre Covid years ending March 2018, 2019 and 2020 demonstrated a steady increase in turnover and EBITDA.
The first "Covid year" ending March 2021 shows a sudden decline in turnover and EBITDA, the second "Covid year" ending March 2022 shows an improved turnover and EBITDA which reflects the relaxation of Covid restrictions during the year, this provided the confidence for clients to start recommissioning data collection.

Despite the current economic difficulties that have mainly arisen as a result of the war in Ukraine (predominately high oil prices and interest rates) NDC's directors believe that the post Covid years will see a major improvement in turnover and EBITDA as trading conditions in our industry have gradually returned to "normal".

ON BEHALF OF THE BOARD:





G O'Regan - Director


24 November 2023

TRANSPORTATION DATA SURVEYS LIMITED (REGISTERED NUMBER: 06351416)

REPORT OF THE DIRECTORS
for the year ended 31 March 2023

The directors present their report with the financial statements of the company and the group for the year ended 31 March 2023.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of transport data collection and consultancy.

DIVIDENDS
No dividends will be distributed for the year ended 31 March 2023.

DIRECTORS
The directors of the parent undertaking have held no shares directly in the group's subsidiary undertakings during the year. Their beneficial interests in the subsidiary undertakings of the group are reflected in the stake owned by the parent company as disclosed in the fixed asset investment note in the financial statements.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

ON BEHALF OF THE BOARD:





G O'Regan - Director


24 November 2023

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
TRANSPORTATION DATA SURVEYS LIMITED

Opinion
We have audited the financial statements of Transportation Data Surveys Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2023 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
TRANSPORTATION DATA SURVEYS LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The audit process includes an assessment of the entity's risk environment, through enquiry of and discussion with management, including an assessment of any key laws and regulations with which the company must comply in the ordinary course of its business.

Additionally, the overall risks of irregular transactions occurring are assessed following our observations and confirmation of the design and implementation of management's controls. Whilst we are mindful of these risks, our audit focus is geared towards the risk of material misstatement in the financial statements as a whole.

As such, our procedures cannot guarantee that all transactions have been fully compliant with all relevant laws and regulations, including those regulations relating to fraud, as our procedures are not designed to detect all instances of non-compliance. By definition, the risk of our detection of non-compliance is greater where compliance with a law or regulation is removed from the events and transactions reflected in the financial statements. The risk is also greater regarding irregularities due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Comparative figures
Comparative information in the financial statements is derived from the company's prior period financial statements which were not audited.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
TRANSPORTATION DATA SURVEYS LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Wayne Gutteridge FCA (Senior Statutory Auditor)
for and on behalf of Harrison Beale & Owen Limited
Chartered Accountants and Statutory Auditors
Seven Stars House
1 Wheler Road
Coventry
CV3 4LB

24 November 2023

TRANSPORTATION DATA SURVEYS LIMITED (REGISTERED NUMBER: 06351416)

CONSOLIDATED
INCOME STATEMENT
for the year ended 31 March 2023

2023 2022
Notes £    £    £    £   

TURNOVER 3 9,455,107 7,365,062

Cost of sales 5,679,559 4,682,061
GROSS PROFIT 3,775,548 2,683,001

Administrative expenses 2,113,062 1,706,781
1,662,486 976,220

Other operating income 379,029 229,860
OPERATING PROFIT 5 2,041,515 1,206,080

Income from interest in associated
undertakings

186,188

153,426
Interest receivable and similar income 16,045 11,647
202,233 165,073
2,243,748 1,371,153

Interest payable and similar expenses 6 24,775 25,193
PROFIT BEFORE TAXATION 2,218,973 1,345,960

Tax on profit 7 365,399 208,754
PROFIT FOR THE FINANCIAL YEAR 1,853,574 1,137,206
Profit attributable to:
Owners of the parent 1,618,367 944,937
Non-controlling interests 235,207 192,269
1,853,574 1,137,206

TRANSPORTATION DATA SURVEYS LIMITED (REGISTERED NUMBER: 06351416)

CONSOLIDATED
OTHER COMPREHENSIVE INCOME
for the year ended 31 March 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 1,853,574 1,137,206


OTHER COMPREHENSIVE INCOME
Foreign exchange on consolidation 34,429 (6,147 )
Adjustment to reserves on share purchase (64,054 ) -
Income tax relating to components of other
comprehensive income

-

-
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX

(29,625

)

(6,147

)
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,823,949

1,131,059

Total comprehensive income attributable to:
Owners of the parent 1,922,887 938,790
Non-controlling interests (98,938 ) 192,269
1,823,949 1,131,059

TRANSPORTATION DATA SURVEYS LIMITED (REGISTERED NUMBER: 06351416)

CONSOLIDATED BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 196,236 8,513
Tangible assets 10 1,076,099 960,132
Investments 11
Interest in associate 762,105 680,347
Investment property 12 - 140,000
2,034,440 1,788,992

CURRENT ASSETS
Stocks 13 - 10,756
Debtors 14 3,820,336 2,090,658
Cash at bank and in hand 2,207,764 2,778,604
6,028,100 4,880,018
CREDITORS
Amounts falling due within one year 15 1,016,731 1,036,901
NET CURRENT ASSETS 5,011,369 3,843,117
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,045,809

5,632,109

CREDITORS
Amounts falling due after more than one year 16 (101,807 ) (268,145 )

PROVISIONS FOR LIABILITIES 20 (250,502 ) (160,268 )
NET ASSETS 6,693,500 5,203,696

CAPITAL AND RESERVES
Called up share capital 21 100 100
Retained earnings 22 5,947,278 4,358,536
SHAREHOLDERS' FUNDS 5,947,378 4,358,636

NON-CONTROLLING INTERESTS 23 746,122 845,060
TOTAL EQUITY 6,693,500 5,203,696

The financial statements were approved by the Board of Directors and authorised for issue on 24 November 2023 and were signed on its behalf by:



G O'Regan - Director


TRANSPORTATION DATA SURVEYS LIMITED (REGISTERED NUMBER: 06351416)

COMPANY BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 2,565 3,021
Investments 11 364,266 89,416
Investment property 12 - -
366,831 92,437

CURRENT ASSETS
Debtors 14 2,082,454 902,307
Cash at bank and in hand 1,581,489 1,925,975
3,663,943 2,828,282
CREDITORS
Amounts falling due within one year 15 2,601,880 2,755,069
NET CURRENT ASSETS 1,062,063 73,213
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,428,894

165,650

CREDITORS
Amounts falling due after more than one year 16 - 165,550
NET ASSETS 1,428,894 100

CAPITAL AND RESERVES
Called up share capital 21 100 100
Retained earnings 1,428,794 -
SHAREHOLDERS' FUNDS 1,428,894 100

Company's profit for the financial year 1,428,794 -

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 24 November 2023 and were signed on its behalf by:





G O'Regan - Director


TRANSPORTATION DATA SURVEYS LIMITED (REGISTERED NUMBER: 06351416)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
for the year ended 31 March 2023

Called up
share Retained Non-controlling Total
capital earnings Total interests equity
£    £    £    £    £   

Balance at 1 April 2021 100 3,419,746 3,419,846 652,791 4,072,637

Changes in equity
Total comprehensive income - 938,790 938,790 192,269 1,131,059
Balance at 31 March 2022 100 4,358,536 4,358,636 845,060 5,203,696

Changes in equity
Total comprehensive income - 1,588,742 1,588,742 (98,938 ) 1,489,804
Balance at 31 March 2023 100 5,947,278 5,947,378 746,122 6,693,500

TRANSPORTATION DATA SURVEYS LIMITED (REGISTERED NUMBER: 06351416)

COMPANY STATEMENT OF CHANGES IN EQUITY
for the year ended 31 March 2023

Called up
share Retained Total
capital earnings equity
£    £    £   

Balance at 1 April 2021 100 - 100

Changes in equity
Balance at 31 March 2022 100 - 100

Changes in equity
Total comprehensive income - 1,428,794 1,428,794
Balance at 31 March 2023 100 1,428,794 1,428,894

TRANSPORTATION DATA SURVEYS LIMITED (REGISTERED NUMBER: 06351416)

CONSOLIDATED CASH FLOW STATEMENT
for the year ended 31 March 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (70,328 ) 803,139
Interest paid (10,745 ) (9,387 )
Interest element of hire purchase payments
paid

(14,030

)

(15,806

)
Tax paid (281,256 ) (174,152 )
Net cash from operating activities (376,359 ) 603,794

Cash flows from investing activities
Purchase of intangible fixed assets (275,000 ) -
Purchase of tangible fixed assets (287,366 ) (312,400 )
Sale of tangible fixed assets 82,022 39,300
Sale of fixed asset investments 182,242 -
Foreign exchange on consolidation 34,429 (6,147 )
Interest received 16,045 11,647
Dividends received 104,429 -
Net cash from investing activities (143,199 ) (267,600 )

Cash flows from financing activities
Capital repayments in year (201,282 ) (197,792 )
Amount introduced by directors 150,000 141,185
Amount withdrawn by directors - (150,000 )
Net cash from financing activities (51,282 ) (206,607 )

(Decrease)/increase in cash and cash equivalents (570,840 ) 129,587
Cash and cash equivalents at beginning of
year

2

2,778,604

2,649,017

Cash and cash equivalents at end of year 2 2,207,764 2,778,604

TRANSPORTATION DATA SURVEYS LIMITED (REGISTERED NUMBER: 06351416)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
for the year ended 31 March 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2023 2022
£    £   
Profit before taxation 2,218,973 1,345,960
Depreciation charges 329,500 327,771
(Profit)/loss on disposal of fixed assets (350,603 ) 772
Other non cash adjustments (17,229 ) -
Finance costs 24,775 25,193
Finance income (202,233 ) (165,073 )
2,003,183 1,534,623
Decrease in stocks 10,756 1,419
Increase in trade and other debtors (1,879,678 ) (698,383 )
Decrease in trade and other creditors (204,589 ) (34,520 )
Cash generated from operations (70,328 ) 803,139

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 2,207,764 2,778,604
Year ended 31 March 2022
31.3.22 1.4.21
£    £   
Cash and cash equivalents 2,778,604 2,649,017


TRANSPORTATION DATA SURVEYS LIMITED (REGISTERED NUMBER: 06351416)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
for the year ended 31 March 2023

3. ANALYSIS OF CHANGES IN NET FUNDS

Other
non-cash
At 1.4.22 Cash flow changes At 31.3.23
£    £    £    £   
Net cash
Cash at bank
and in hand 2,778,604 (570,840 ) 2,207,764
2,778,604 (570,840 ) 2,207,764
Debt
Finance leases (182,891 ) 201,282 - (207,063 )
Debts falling due
within 1 year (64,805 ) 64,805 - -
Debts falling due
after 1 year (230,742 ) 230,742 - -
(478,438 ) 496,829 - (207,063 )
Total 2,300,166 (74,011 ) - 2,000,701

TRANSPORTATION DATA SURVEYS LIMITED (REGISTERED NUMBER: 06351416)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
for the year ended 31 March 2023

1. STATUTORY INFORMATION

Transportation Data Surveys 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below and remain unchanged from the prior year.

The presentation and functional currency of the group is Pounds Sterling

Basis of consolidation
The consolidated financial statements incorporate those of Transportation Data Surveys Limited and of its subsidiary undertakings as follows:

Nationwide Data Collection Limited
Nationwide Data Collection (Midlands) Limited
Nationwide Data Collection (London) Ltd
Nationwide Data Collection (Scotland) Limited
Nationwide Data Collection (Ireland) Ltd

All financial statements for the above are made up to 31 March 2023.

The group holdings in the following companies were divested during the year:

Nationwide IT Consultancy Limited
Nationwide IT Consultancy (Ireland) Limited

The above entities remained within the group until 28 February 2023 and the results to this date are included in these consolidated financial statements.

All transactions and balances between group companies are eliminated on consolidation.

Critical accounting judgements and key sources of estimation uncertainty
The group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

Accounting estimates:
i) Depreciation & amortisation
The group has invested in a significant asset base including both intangible and tangible assets. When setting and calculating the estimates of depreciation and amortisation, management consider a number of factors, including: industry standards for the asset concerned; market and residual values of the asset; the performance of the item and its contribution to production and ultimately the profitability of the company; and an estimate of the continued applicability of its future estimated useful economic life by considering both the future levels of repair with reference to past actual expenditure and the relevance of its continued productivity to the group's future business plans.

TRANSPORTATION DATA SURVEYS LIMITED (REGISTERED NUMBER: 06351416)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Turnover
Turnover comprises the value of sales (net of value added tax) of goods and services provided in the normal course of business. Revenue is recognised in respect of service contracts when the company obtains the right to consideration.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Additional share purchases to increase the group's overall holdings are included within goodwill and amortised over ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures & fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance and 25% straight line
Computer equipment - 15% on reducing balance

Government grants
Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred. Grants of a capital nature are attributed to the relevant capital item to which the grant is in respect of and amortised over the remaining useful life of the asset concerned.

Investments in associates
Investments in associate undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement.


TRANSPORTATION DATA SURVEYS LIMITED (REGISTERED NUMBER: 06351416)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Exchange gains on consolidation totalling £34,429 (2022 losses on consolidation - £6,147) have been classified within equity.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

TRANSPORTATION DATA SURVEYS LIMITED (REGISTERED NUMBER: 06351416)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by geographical market is given below:

2023 2022
£    £   
United Kingdom 9,359,855 7,282,654
Europe 2,316 4,075
United States of America 92,936 77,449
New Zealand - 884
9,455,107 7,365,062

4. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 4,078,959 3,143,985
Social security costs 334,568 254,155
Other pension costs 90,811 76,793
4,504,338 3,474,933

The average number of employees during the year was as follows:
2023 2022

Operational and management 105 101

2023 2022
£    £   
Directors' remuneration 151,000 141,875

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2023 2022
£    £   
Depreciation - owned assets 171,463 157,042
Depreciation - assets on hire purchase contracts 134,814 168,601
(Profit)/loss on disposal of fixed assets (350,603 ) 772
Goodwill amortisation 23,223 2,128
Auditors' remuneration 20,000 -
Operating lease rentals 127,953 131,679

TRANSPORTATION DATA SURVEYS LIMITED (REGISTERED NUMBER: 06351416)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank loan interest 10,615 9,387
Other interest 130 -
Hire purchase 14,030 15,806
24,775 25,193

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 274,794 204,910

Deferred tax 90,605 3,844
Tax on profit 365,399 208,754

UK corporation tax has been charged at 19 % (2022 - 19 %).

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit before tax 2,218,973 1,345,960
Profit multiplied by the standard rate of corporation tax in the UK of 19 %
(2022 - 19 %)

421,605

255,732

Effects of:
Expenses not deductible for tax purposes 12,919 929
Income not taxable for tax purposes (94,327 ) (36 )
Capital allowances in excess of depreciation (51,198 ) (21,773 )
Profits taxed overseas at different rates (14,205 ) (29,942 )
Timing differences relating to deferred tax 90,605 3,844
Total tax charge 365,399 208,754

TRANSPORTATION DATA SURVEYS LIMITED (REGISTERED NUMBER: 06351416)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

7. TAXATION - continued

Tax effects relating to effects of other comprehensive income

2023
Gross Tax Net
£    £    £   
Foreign exchange on consolidation 34,429 - 34,429
Adjustment to reserves on share purchase (64,054 ) - (64,054 )
(29,625 ) - (29,625 )

2022
Gross Tax Net
£    £    £   
Foreign exchange on consolidation (6,147 ) - (6,147 )

During the year the UK corporation tax rate remained at 19%.

Following the budget in March 2021, pledges were made to keep the main rate at 19% up to April 2023, after which the main rate is set to rise to 25%.

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


9. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 April 2022 21,282
Additions 210,946
At 31 March 2023 232,228
AMORTISATION
At 1 April 2022 12,769
Amortisation for year 23,223
At 31 March 2023 35,992
NET BOOK VALUE
At 31 March 2023 196,236
At 31 March 2022 8,513

TRANSPORTATION DATA SURVEYS LIMITED (REGISTERED NUMBER: 06351416)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

10. TANGIBLE FIXED ASSETS

Group
Plant and Fixtures Motor Computer
machinery & fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 1,696,468 58,423 796,886 124,110 2,675,887
Additions 180,632 2,295 329,895 1,486 514,308
Disposals (97,368 ) (643 ) (269,421 ) (26,205 ) (393,637 )
At 31 March 2023 1,779,732 60,075 857,360 99,391 2,796,558
DEPRECIATION
At 1 April 2022 937,175 49,454 628,365 100,761 1,715,755
Charge for year 138,422 1,236 162,890 3,729 306,277
Eliminated on disposal (59,767 ) 486 (226,616 ) (15,676 ) (301,573 )
At 31 March 2023 1,015,830 51,176 564,639 88,814 1,720,459
NET BOOK VALUE
At 31 March 2023 763,902 8,899 292,721 10,577 1,076,099
At 31 March 2022 759,293 8,969 168,521 23,349 960,132

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2022 180,250 461,543 641,793
Additions - 221,654 221,654
Disposals - (109,557 ) (109,557 )
Transfer to ownership - (232,459 ) (232,459 )
At 31 March 2023 180,250 341,181 521,431
DEPRECIATION
At 1 April 2022 69,555 343,993 413,548
Charge for year 16,604 118,210 134,814
Eliminated on disposal - (88,636 ) (88,636 )
Transfer to ownership - (228,918 ) (228,918 )
At 31 March 2023 86,159 144,649 230,808
NET BOOK VALUE
At 31 March 2023 94,091 196,532 290,623
At 31 March 2022 110,695 117,550 228,245

TRANSPORTATION DATA SURVEYS LIMITED (REGISTERED NUMBER: 06351416)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

10. TANGIBLE FIXED ASSETS - continued

Company
Fixtures Computer
& fittings equipment Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 1,040 21,518 22,558
DEPRECIATION
At 1 April 2022 923 18,614 19,537
Charge for year 18 438 456
At 31 March 2023 941 19,052 19,993
NET BOOK VALUE
At 31 March 2023 99 2,466 2,565
At 31 March 2022 117 2,904 3,021

11. FIXED ASSET INVESTMENTS

Group
Interest
in
associate
£   
COST
At 1 April 2022 680,347
Share of profit/(loss) 186,187
Dividends received (104,429 )
At 31 March 2023 762,105
NET BOOK VALUE
At 31 March 2023 762,105
At 31 March 2022 680,347

TRANSPORTATION DATA SURVEYS LIMITED (REGISTERED NUMBER: 06351416)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

11. FIXED ASSET INVESTMENTS - continued

Company
Shares in Interest
group in
undertakings associate Totals
£    £    £   
COST
At 1 April 2022 29,276 60,140 89,416
Additions 275,000 - 275,000
Disposals (150 ) - (150 )
At 31 March 2023 304,126 60,140 364,266
NET BOOK VALUE
At 31 March 2023 304,126 60,140 364,266
At 31 March 2022 29,276 60,140 89,416


12. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 April 2022 140,000
Disposals (140,000 )
At 31 March 2023 -
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 140,000

13. STOCKS

Group
2023 2022
£    £   
Stocks - 10,756

TRANSPORTATION DATA SURVEYS LIMITED (REGISTERED NUMBER: 06351416)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

14. DEBTORS

Group Company
2023 2022 2023 2022
£    £    £    £   
Amounts falling due within one year:
Trade debtors 1,658,112 1,240,583 4,800 -
Amounts owed by related parties 50,512 - 55,653 144,373
Other debtors 484,897 372,480 464,620 360,000
Directors' current accounts - 150,000 - 150,000
Prepayments and accrued income 73,633 63,865 4,199 2,999
2,267,154 1,826,928 529,272 657,372

Amounts falling due after more than one year:
Other debtors 1,553,182 263,730 1,553,182 244,935

Aggregate amounts 3,820,336 2,090,658 2,082,454 902,307

An impairment loss of £nil (2022 reversal of impairment losses - £10,438) was recognised against trade debtors

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans and overdrafts (see note 17) - 64,805 - 34,261
Hire purchase contracts (see note 18) 105,256 145,488 - -
Trade creditors 244,302 240,436 191,971 70,474
Amounts owed to group undertakings - - 2,147,175 2,411,113
Tax 127,749 133,840 5,456 -
Social security and other taxes 80,862 82,976 7,989 8,307
VAT 229,176 215,893 229,176 198,877
Other creditors 151,115 87,781 - -
Accruals and deferred income 78,271 65,682 20,113 32,037
1,016,731 1,036,901 2,601,880 2,755,069

16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans (see note 17) - 230,742 - 165,550
Hire purchase contracts (see note 18) 101,807 37,403 - -
101,807 268,145 - 165,550

TRANSPORTATION DATA SURVEYS LIMITED (REGISTERED NUMBER: 06351416)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

17. LOANS

An analysis of the maturity of loans is given below:

Group Company
2023 2022 2023 2022
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loans - less than 1 year - 64,805 - 34,261
Amounts falling due between one and two years:
Bank loans - 1-2 years - 24,183 - -
Amounts falling due between two and five years:
Bank loans - 2-5 years - 187,388 - 146,379
Amounts falling due in more than five years:
Repayable by instalments
Bank loans - more than 5 years - 19,171 - 19,171

18. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 105,256 145,488
Between one and five years 101,807 37,403
207,063 182,891

Group
Non-cancellable operating leases
2023 2022
£    £   
Within one year 109,908 127,953
Between one and five years 261,298 182,790
In more than five years - 27,641
371,206 338,384

TRANSPORTATION DATA SURVEYS LIMITED (REGISTERED NUMBER: 06351416)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

18. LEASING AGREEMENTS - continued

Company
Non-cancellable operating leases
2023 2022
£    £   
Within one year 39,667 38,000
Between one and five years 166,667 6,333
206,334 44,333

19. SECURED DEBTS

The following secured debts are included within creditors:

Group
2023 2022
£    £   
Bank loans - 295,547
Hire purchase contracts 207,063 182,891
207,063 478,438

Hire purchase debts are secured against the assets to which they relate.

Debts are secured by a supported joint and several personal guarantee of the directors of the company in the sum of £500,000.

There are also corporate guarantees across the Group including:

Transportation Data Surveys Limited;
Nationwide Data Collection Limited;
Nationwide Data Collection (London) Ltd;
Nationwide Data Collection (Scotland) Limited; and
Nationwide Data Collection (Midlands) Limited.

20. PROVISIONS FOR LIABILITIES

Group
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 250,502 160,268

TRANSPORTATION DATA SURVEYS LIMITED (REGISTERED NUMBER: 06351416)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

20. PROVISIONS FOR LIABILITIES - continued

Group
Deferred
tax
£   
Balance at 1 April 2022 160,268
Charge to Income Statement during year 90,605
Utilised during year (371 )
Balance at 31 March 2023 250,502

21. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

22. RESERVES

Group
Retained
earnings
£   

At 1 April 2022 4,358,536
Profit for the year 1,618,367
Foreign exchange variances 34,429
Reserves on share acquisition (64,054 )
At 31 March 2023 5,947,278

Retained earnings
Retained earnings represent cumulative retained profits and losses from incorporation.

23. NON-CONTROLLING INTERESTS

Transportation Data Surveys owns a controlling interest in each of its subsidiary undertakings.

Each of the subsidiaries also has a non-controlling interest owned by select individuals in the following proportions:

Nationwide Data Collection Limited - 6.5%
Nationwide Data Collection (Midlands) Limited - 23.0%
Nationwide Data Collection (London) Ltd - 13.0%
Nationwide Data Collection (Scotland) Limited - 13.0%
Nationwide Data Collection (Ireland) Ltd - 19.0%

TRANSPORTATION DATA SURVEYS LIMITED (REGISTERED NUMBER: 06351416)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

24. PENSION COMMITMENTS

The group operates a defined contribution pension scheme. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the group and amounted to £90,811 (2022 - £76,793). Included within creditors is a balance due to pension providers of £415 (2022 - £695), which represents amounts due to the funds.

25. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
G O'Regan and Mrs M O'Regan
Balance outstanding at start of year 150,000 125,000
Amounts advanced - 150,000
Amounts repaid (150,000 ) (125,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 150,000

26. GOVERNMENT GRANTS

Included within other income is an amount of £2,000 (2022 - £203,179) relating to revenue grants whose conditions have been met during the year