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REGISTERED NUMBER: 03545257















Unaudited Financial Statements for the Year Ended 30 June 2023

for

DRD Communications Limited

DRD Communications Limited (Registered number: 03545257)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 10

DRD Communications Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: D.R. Dadds





SECRETARY: Mrs C.A. Baker





REGISTERED OFFICE: No.1 Croydon
12-16 Addiscombe Road
Croydon
Surrey
CR0 0XT





REGISTERED NUMBER: 03545257





ACCOUNTANTS: Michael Goddard
Chartered Certified Accountant
57 Markfield Road
Caterham
Surrey
CR3 6RQ

DRD Communications Limited (Registered number: 03545257)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 3,512,919 2,965,969
Tangible assets 5 313,222 473,650
Investments 6 155,188 155,188
3,981,329 3,594,807

CURRENT ASSETS
Stocks 43,511 47,575
Debtors 7 1,090,586 744,261
Cash at bank 5,641,240 5,018,912
6,775,337 5,810,748
CREDITORS
Amounts falling due within one year 8 (1,396,710 ) (1,163,053 )
NET CURRENT ASSETS 5,378,627 4,647,695
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,359,956

8,242,502

PROVISIONS FOR LIABILITIES 10 (811,479 ) (447,149 )
NET ASSETS 8,548,477 7,795,353

CAPITAL AND RESERVES
Called up share capital 115,127 115,127
Share premium 11 66,366 66,366
Retained earnings 11 8,366,984 7,613,860
SHAREHOLDERS' FUNDS 8,548,477 7,795,353

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

DRD Communications Limited (Registered number: 03545257)

Balance Sheet - continued
30 June 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 March 2024 and were signed by:





D.R. Dadds - Director


DRD Communications Limited (Registered number: 03545257)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

DRD Communications Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents revenue recognised in the accounts. Revenue is recognised at the point at which goods and services are supplied to customers. Where services are performed gradually over time revenue is recognised as activity progresses by reference to the value of the work performed.

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 five years.

Hosted services software
Hosted services software is being amortised at 25% on reducing balance.

Other computer software
Other computer software is being amortised evenly over its estimated useful life of 3 years.

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.
Hosted services equipment - 25% on reducing balance
Vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance
Office furniture & equipment - 25% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


DRD Communications Limited (Registered number: 03545257)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates defined contribution pension schemes and the pension charge in the accounts represents the amounts payable by the company to the funds in respect of the year.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 19 ) .

DRD Communications Limited (Registered number: 03545257)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. INTANGIBLE FIXED ASSETS
Hosted
services
software
and Computer
Goodwill licenses software Totals
£    £    £    £   
COST
At 1 July 2022 1,124,322 8,559,265 31,401 9,714,988
Additions 350,310 1,010,609 - 1,360,919
At 30 June 2023 1,474,632 9,569,874 31,401 11,075,907
AMORTISATION
At 1 July 2022 1,065,644 5,651,974 31,401 6,749,019
Amortisation for year 84,585 729,384 - 813,969
At 30 June 2023 1,150,229 6,381,358 31,401 7,562,988
NET BOOK VALUE
At 30 June 2023 324,403 3,188,516 - 3,512,919
At 30 June 2022 58,678 2,907,291 - 2,965,969

Hosted services software includes development costs.
Software held on Finances Leases at 30 June 2022 were transferred to ownership during the year.

5. TANGIBLE FIXED ASSETS
Hosted Office
services Computer furniture
equipment Vehicles equipment & equipment Totals
£    £    £    £    £   
COST
At 1 July 2022 1,080,637 102,900 29,639 58,912 1,272,088
Additions 61,238 - - - 61,238
Disposals (284,617 ) - - - (284,617 )
At 30 June 2023 857,258 102,900 29,639 58,912 1,048,709
DEPRECIATION
At 1 July 2022 723,065 2,144 23,739 49,490 798,438
Charge for year 192,647 25,189 1,475 2,355 221,666
Eliminated on disposal (284,617 ) - - - (284,617 )
At 30 June 2023 631,095 27,333 25,214 51,845 735,487
NET BOOK VALUE
At 30 June 2023 226,163 75,567 4,425 7,067 313,222
At 30 June 2022 357,572 100,756 5,900 9,422 473,650

Hosted services equipment includes computer hardware.

DRD Communications Limited (Registered number: 03545257)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under finance leases are as follows:
Hosted
services
equipment
£   
COST
At 1 July 2022 239,874
Transfer to ownership (239,874 )
At 30 June 2023 -
DEPRECIATION
At 1 July 2022 138,677
Transfer to ownership (138,677 )
At 30 June 2023 -
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 101,197

6. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 July 2022
and 30 June 2023 155,188
NET BOOK VALUE
At 30 June 2023 155,188
At 30 June 2022 155,188

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 936,007 230,835
Prepayments 154,579 513,426
1,090,586 744,261

DRD Communications Limited (Registered number: 03545257)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Finance leases - 25,242
Trade creditors 653,809 653,707
Due to subsidiaries 91,543 113,372
Tax 317,032 74,080
Social security and other taxes 31,595 27,230
VAT 252,575 224,181
Other creditors 36,066 35,001
Accrued expenses 14,090 10,240
1,396,710 1,163,053

9. SECURED DEBTS

The company's bankers have a mortgage debenture over the company's present and future assets.

10. PROVISIONS FOR LIABILITIES
30.6.23 30.6.22
£    £   
Deferred tax
Accelerated capital allowances 811,479 447,149

Deferred
tax
£   
Balance at 1 July 2022 447,149
Charge to Income Statement during year 364,330
Balance at 30 June 2023 811,479

11. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 July 2022 7,613,860 66,366 7,680,226
Profit for the year 1,246,774 1,246,774
Dividends (493,650 ) (493,650 )
At 30 June 2023 8,366,984 66,366 8,433,350

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £424,498 (2022 - £465,000) were paid to the directors .

The company used the services of it's subsidiary in India . D R Dadds is a director of the Indian company. The transactions are as follows.
DRD Communications and Software Private Limited.
Charges to DRD Communications Ltd were £1,186,433 (2022 £958,778).
The amount due to the subsidiary at 30 June 2023 was £91,543 (2022 £113,072).

DRD Communications Limited (Registered number: 03545257)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

13. ULTIMATE CONTROLLING PARTY

The controlling party is D.R. Dadds.

Chartered Certified Accountants' Report to the Director
on the Unaudited Financial Statements of
DRD Communications Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of DRD Communications Limited for the year ended 30 June 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of DRD Communications Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of DRD Communications Limited and state those matters that we have agreed to state to the director of DRD Communications Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that DRD Communications Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of DRD Communications Limited. You consider that DRD Communications Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of DRD Communications Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Michael Goddard
Chartered Certified Accountant
57 Markfield Road
Caterham
Surrey
CR3 6RQ


Date: .............................................