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COMPANY REGISTRATION NUMBER: 11756572
Raw Traffic Data Solutions Limited
Filleted Unaudited Financial Statements
31 January 2024
Raw Traffic Data Solutions Limited
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
36,113
40,380
Current assets
Debtors
6
21,646
7,176
Cash at bank and in hand
10,612
16,746
--------
--------
32,258
23,922
Creditors: amounts falling due within one year
7
26,286
27,039
--------
--------
Net current assets/(liabilities)
5,972
( 3,117)
--------
--------
Total assets less current liabilities
42,085
37,263
Creditors: amounts falling due after more than one year
8
2,844
7,111
Provisions
9,028
7,672
--------
--------
Net assets
30,213
22,480
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
30,113
22,380
--------
--------
Shareholder funds
30,213
22,480
--------
--------
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 statement of income and retained earnings has not been delivered.
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Raw Traffic Data Solutions Limited
Statement of Financial Position (continued)
31 January 2024
These financial statements were approved by the board of directors and authorised for issue on 5 April 2024 , and are signed on behalf of the board by:
Mr D C Timms
Director
Company registration number: 11756572
Raw Traffic Data Solutions Limited
Notes to the Financial Statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Edison Court, Ellice Way, Wrexham Technology Park, Wrexham, LL137YT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
33% straight line
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The following assets and liabilities within the accounts are classified as financial instruments - trade debtors, trade creditors and directors loans. Directors loans (being repayable upon demand), trade debtors and trade creditors, are measured at the undiscounted amount of cash or other consideration expected to be paid or received. Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the statement of Income and Retained Earnings.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 February 2023
24,294
41,054
951
66,299
Additions
7,613
158
7,771
--------
--------
-------
--------
At 31 January 2024
31,907
41,054
1,109
74,070
--------
--------
-------
--------
Depreciation
At 1 February 2023
11,820
13,665
434
25,919
Charge for the year
5,022
6,847
169
12,038
--------
--------
-------
--------
At 31 January 2024
16,842
20,512
603
37,957
--------
--------
-------
--------
Carrying amount
At 31 January 2024
15,065
20,542
506
36,113
--------
--------
-------
--------
At 31 January 2023
12,474
27,389
517
40,380
--------
--------
-------
--------
6. Debtors
2024
2023
£
£
Trade debtors
21,210
6,912
Other debtors
436
264
--------
-------
21,646
7,176
--------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Social security and other taxes
20,427
13,189
Other creditors
5,859
13,850
--------
--------
26,286
27,039
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
2,844
7,111
-------
-------
9. Director's advances, credits and guarantees
The Director operated a loan account with the company in the period. The opening balance of the loan account was £291 (2023 £182) and it had a closing balance of £7 overdrawn (2023 £291). The loan is interest free and repayable upon demand.