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REGISTERED NUMBER: 08786702 (England and Wales)















Strategic Report,

Report of the Directors and

Financial Statements

for the Period 1 April 2022 to 30 March 2023

for

GO TRAFFIC MANAGEMENT LIMITED

GO TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 08786702)

Contents of the Financial Statements
for the period 1 April 2022 to 30 March 2023










Page

Company Information 1

Strategic Report 2

Report of the Directors 5

Report of the Independent Auditors 6

Statement of Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Notes to the Financial Statements 12


GO TRAFFIC MANAGEMENT LIMITED

Company Information
for the period 1 April 2022 to 30 March 2023







Directors: M P O'Sullivan
D L Holland
M Porter
K A Fowlie





Registered office: Chaddock Lane
Worsley
Greater Manchester
M28 1XW





Registered number: 08786702 (England and Wales)





Auditors: Haines Watts
Northern Assurance Buildings
9-21 Princess Street
Manchester
M2 4DN

GO TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 08786702)

Strategic Report
for the period 1 April 2022 to 30 March 2023


The directors present their strategic report for the period 1 April 2022 to 30 March 2023.

GTM is a leading provider of traffic management and event management services, with a network of depots across its primary operating regions.

The business has had another excellent year, delivering improved turnover and profitability with strong cash generation through operational efficiency across an expanding geographical footprint. The growth of the business is in line with its five year strategy to secure leading positions across the UK in markets driven by long term programmes of spending on asset renewal and maintenance of strategic infrastructure in the highways and utility sectors.

We were awarded or re-secured during the year all the key frameworks targeted within the 2022 - 2023 Business Plan. This organic growth will be supplemented by acquisitions during subsequent years of the Plan, such as the strategic acquisition of Capital Traffic Management in June 2021.

Capital Traffic Management operates across London and the South East and has a number of long term contracts to provide specialist traffic management services on some of the country's busiest, high profile highways.

Results for the year ended 30 March 2023:
Go Traffic Management, announces a strong performance for the period, having achieved both substantial sales growth and increased profitability in the year. Our markets have retained robust demand and this will continue because our customers have committed spends over the duration of their respective regulatory cycles.

2023 2022
£ £
Revenue 35,890,576 23,963,264
Gross profit 18,416,562 11,628,379
Gross profit % 51.3% 48.5%
Operating profit 6,491,834 4,638,116
Operating profit % 18.1% 19.4%

There were no recognised gains and losses for 2023 or 2022 other than those included in the consolidated statement of comprehensive income.

The Company's key financial and performance indicators for the year are:
- Record sales achieved of £35.9m representing an increase of 49.8%
- Net profit before tax increased by £1.9m
- Net profit margin before tax decreased by 1.3%


GO TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 08786702)

Strategic Report
for the period 1 April 2022 to 30 March 2023

Review of business
This has been a hugely successful and important year for Go Traffic Management. We have made decisive progress in safely delivering our strategic objectives and further strengthening the Company's position in our chosen markets. This has been achieved by continuing to implement a policy to 'protect and grow' the business. Our priority is to deliver organic growth by delivering to existing customers' expectations and selectively bidding for new work in adjacent markets and geographies. Focusing on those activities that are most suited to our core skills and capabilities enables us to provide efficient and effective services on behalf of our customers. This approach has been key to delivering an excellent set of results.

In July 2022, it was announced that OMERS Private Equity had entered into an agreement with management and institutional shareholders to acquire the Network Plus Group of Companies. OMERS are committed to working with the Group's management team to developing core operations and enhance our expertise in adjacent infrastructure markets. This will ensure the Group companies continue to deliver essential services on behalf of our customers and create new opportunities for employees to develop their careers within the business.

The Company complies fully with the General Data Protection Regulations (GDPR) and the Data Protection Act (DPA). We achieved ISO27001 accreditation for our Information Security Management System (ISMS). This is in addition to our Cyber Essentials Plus certification.

We have also ensured that the appropriate levels of corporate governance are in place and that succession planning, training and development opportunities remain key areas of focus.

Our HR function oversees our Talent Management programme and is responsible for liaising with individual contracts and Group functions to identify their requirements and undertake the appropriate levels of apprentice and graduate recruitments.

The Company maintains an exceptionally strong financial position with significant cash reserves which enables operational and strategic flexibility, the opportunity for further investment and expansion, and resilience to meet unforeseen market conditions, opportunities and operational challenges.

We have worked closely with our valued customers to ensure our cash collection is operating within contractually agreed terms. We have also continued with our investment strategy in vehicles, IT and equipment to ensure the welfare of our workforce and enable us to deliver effective and efficient services.

Electric vehicle charging points have been installed at key office and operational depots to further reduce our carbon footprint and the impact of our activities on the environment. We have also changed our Company Car and Operational Vehicle Policy to ensure a phased migration from petrol and diesel engines to electric or hybrid cars and small vans. This is improving the fuel economy of our fleet as well as lowering fuel costs and reducing our carbon emissions.

The Company has further invested in new, energy efficient regional offices to support growth and expand our geographic coverage across the south of England.


GO TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 08786702)

Strategic Report
for the period 1 April 2022 to 30 March 2023

Principal risks and uncertainties
Go Traffic Management continues to develop its position within our chosen markets where activities benefit from ongoing spend on essential asset maintenance and renewals. These markets are underpinned by regulatory requirements and, as such, benefit from long-term visible cycles of investment.

The Company is exposed to potential short, medium and long term risks because of the nature of the work we undertake and the markets in which we operate. During the year, we continued to make progress in maintaining an excellent health and safety performance as well as successfully managing all key risks.

Most of these risks relate to operational and commercial performance. They are managed daily by supervisors and managers. Their effectiveness is monitored, measured and reported in contract management information reports. These reports are reviewed by the Board at monthly performance meetings to ensure that all significant risks have been suitably identified, assessed and managed.

Most of these risks relate to operational and commercial performance. They are managed daily by supervisors and managers. Their effectiveness is monitored, measured, and reported in contract management information reports. These reports are reviewed by the Board at monthly performance meetings to ensure that all significant risks have been suitably identified, assessed, and managed.

If an individual contract or departmental risk is sufficiently serious, it is included in the Key Risk Register (KRR). The KRR is subject to at least a quarterly review by the Board. These reviews are in addition to the monthly meetings that are used to assess trends in operational and financial performance.

All risks and mitigation measures are documented, allocated owners, reviewed and updated each quarter or whenever there is a material change in circumstances
.
In addition to the risks outlined above, the Company addresses other financial risks as follows:

Credit risk - credit checks are carried out where appropriate for new and existing customers and for suppliers to whom payments on account are made.

Liquidity risk - the Group takes account of cash flow requirements when determining the period of time for which funds are placed on deposit with financial institutions.

Cash flow risk - the Board monitors the level of funds held within the business to ensure that there are sufficient funds available for working capital requirements, capital expenditure, the payment of tax and the service of Group debt. Consideration is also given to the impact of potential downturns in the level of business.

Future developments
The directors have an ambitious plan to grow the Company significantly over the coming years. The trading prospects in current markets are positive. Our order book is strong having been successful in a number of new work tenders during the year, and also, work volumes increasing on mature contracts. We are well positioned to embark on the next phase of our development through organic growth, selective bidding of new opportunities and potential acquisitions that will expand our range of services and our customer base. Our focus will remain on those markets where non-discretionary spending programmes exist to maintain critical infrastructure.
The directors and management of the Company will continue to maintain appropriate levels of governance and control to ensure the we are protected against potential future failure costs. We have strengthened our position in markets which benefit from visible funding. These markets have excellent long term prospects with growth driven by regulatory requirements. Our multi-disciplinary maintenance and engineering services are closely aligned with the sustained investment in these markets which provides the Board with confidence in future growth.

On behalf of the board:





D L Holland - Director


23 February 2024

GO TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 08786702)

Report of the Directors
for the period 1 April 2022 to 30 March 2023


The directors present their report with the financial statements of the company for the period 1 April 2022 to 30 March 2023.

Principal activity
The principal activity of the company in the period under review was that of the hire of traffic management systems.

Dividends
The total distribution of dividends for the year ended 30 March 2023 will be £nil.

Directors
The directors shown below have held office during the whole of the period from 1 April 2022 to the date of this report.

M P O'Sullivan
D L Holland

Other changes in directors holding office are as follows:

S A Fraser - resigned 10 February 2023

M Porter and K A Fowlie were appointed as directors after 30 March 2023 but prior to the date of this report.

P J Birchall ceased to be a director after 30 March 2023 but prior to the date of this report.

Statement of directors' responsibilities
The directors are responsible for preparing the 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 of the profit or loss of the company 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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 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 company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Auditors
The auditors, Haines Watts, will be proposed for re-appointment at the forthcoming Annual General Meeting.

On behalf of the board:



D L Holland - Director


23 February 2024

Report of the Independent Auditors to the Members of
Go Traffic Management Limited


Opinion
We have audited the financial statements of Go Traffic Management Limited (the 'company') for the period ended 30 March 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and 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 company's affairs as at 30 March 2023 and of its profit for the period 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 company 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 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 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 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 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
Go Traffic Management Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the 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, or returns adequate for our audit have not been received from branches not visited by us; or
- the 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 five, 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 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 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:

- Identifying and assessing the design and effectiveness of controls that management have in place to prevent and detect fraud;

- Understanding how those charged with governance considered and addressed the potential for override of those controls, or other inappropriate influence over the financial reporting process;

- We perform walkthrough testing to confirm that the company's own controls were operating correctly.

- We test a sample of sales and purchases to confirm they are accounted for correctly and are appropriately disclosed.

- We test a sample of debtors and creditors to confirm they are correctly stated.

- We test a sample of journals to confirm they are genuine transactions.

- We review accounting estimates to confirm that they are reasonable.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring 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.

Report of the Independent Auditors to the Members of
Go Traffic Management 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.




David M Fort FCA (Senior Statutory Auditor)
for and on behalf of Haines Watts
Northern Assurance Buildings
9-21 Princess Street
Manchester
M2 4DN

23 February 2024

GO TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 08786702)

Statement of Comprehensive
Income
for the period 1 April 2022 to 30 March 2023

Period
1/4/22
to Year ended
30/3/23 31/3/22
Notes £ £

Turnover 35,890,576 23,963,264

Cost of sales (17,474,015 ) (12,334,885 )
Gross profit 18,416,561 11,628,379

Administrative expenses (11,924,351 ) (6,990,263 )
Operating profit 5 6,492,210 4,638,116

Interest receivable and similar income 8,669 -
6,500,879 4,638,116

Interest payable and similar expenses 6 (9,043 ) (10,851 )
Profit before taxation 6,491,836 4,627,265

Tax on profit 7 320,188 (879,180 )
Profit for the financial period 6,812,024 3,748,085

Other comprehensive income - -
Total comprehensive income for the
period

6,812,024

3,748,085

GO TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 08786702)

Balance Sheet
30 March 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 8 603,780 891,643
Investments 9 1,836,153 1,849,153
2,439,933 2,740,796

Current assets
Stocks 10 448,880 131,931
Debtors 11 15,954,840 5,031,376
Cash at bank 276,760 2,418,409
16,680,480 7,581,716
Creditors
Amounts falling due within one year 12 5,872,520 3,686,643
Net current assets 10,807,960 3,895,073
Total assets less current liabilities 13,247,893 6,635,869

Creditors
Amounts falling due after more than one
year

13

-

200,000
Net assets 13,247,893 6,435,869

Capital and reserves
Called up share capital 16 10,000 10,000
Retained earnings 17 13,237,893 6,425,869
Shareholders' funds 13,247,893 6,435,869

The financial statements were approved by the Board of Directors and authorised for issue on 23 February 2024 and were signed on its behalf by:





D L Holland - Director


GO TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 08786702)

Statement of Changes in Equity
for the period 1 April 2022 to 30 March 2023

Called up
share Retained Total
capital earnings equity
£ £ £
Balance at 1 April 2021 10,000 2,677,784 2,687,784

Changes in equity
Total comprehensive income - 3,748,085 3,748,085
Balance at 31 March 2022 10,000 6,425,869 6,435,869

Changes in equity
Total comprehensive income - 6,812,024 6,812,024
Balance at 30 March 2023 10,000 13,237,893 13,247,893

GO TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 08786702)

Notes to the Financial Statements
for the period 1 April 2022 to 30 March 2023


1. Statutory information

Go Traffic Management 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 Company Information page.

2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis.

The company has taken advantage of the exemption available under the Companies Act 2006 not to prepare consolidated financial statements because it is included in the consolidated financial statement of Nyetimber Finco Limited, which are publicly available on Companies House.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

There are not considered to be any critical judgements in applying the company's accounting policies.

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. There are not considered to be any estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of assets or liabilities.

Turnover
Turnover represents the amount receivable by the company for the hire of traffic management systems, net of value added tax. Turnover is recognised in the period in which the hire takes place.

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 - 25% straight line
Motor vehicles - 25% straight line
Computer equipment - 25% straight line

Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price and costs directly attributable to bringing the asset to its working condition for its intended use.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

GO TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 08786702)

Notes to the Financial Statements - continued
for the period 1 April 2022 to 30 March 2023


3. Accounting policies - continued

Financial instruments
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans and loans from fellow group companies 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 receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost using the effective interest method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year. If not, they are presented as non-current liabilities. Trade payables are initially recognised at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 period 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.

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.

GO TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 08786702)

Notes to the Financial Statements - continued
for the period 1 April 2022 to 30 March 2023


3. Accounting policies - continued

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

4. Employees and directors
Period
1/4/22
to Year ended
30/3/23 31/3/22
£ £
Wages and salaries 9,336,536 5,603,168
Social security costs 883,472 455,737
Other pension costs 155,805 125,051
10,375,813 6,183,956

The average number of employees during the period was as follows:
Period
1/4/22
to Year ended
30/3/23 31/3/22

Production 152 149
Administration and other staff 90 18
242 167

Period
1/4/22
to Year ended
30/3/23 31/3/22
£ £
Directors' remuneration - -

5. Operating profit

The operating profit is stated after charging:

Period
1/4/22
to Year ended
30/3/23 31/3/22
£ £
Hire of plant and machinery 2,268,054 1,572,179
Other operating leases 1,265,189 821,455
Depreciation - owned assets 239,598 188,942
Depreciation - assets on hire purchase contracts 142,238 245,084
Auditors' remuneration 4,829 6,500

GO TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 08786702)

Notes to the Financial Statements - continued
for the period 1 April 2022 to 30 March 2023


6. Interest payable and similar expenses
Period
1/4/22
to Year ended
30/3/23 31/3/22
£ £
Bank interest - 38
Hire purchase 9,043 10,813
9,043 10,851

7. Taxation

Analysis of the tax (credit)/charge
The tax (credit)/charge on the profit for the period was as follows:
Period
1/4/22
to Year ended
30/3/23 31/3/22
£ £
Current tax:
UK corporation tax 1,252,339 879,180
(Over)/under provision PY (1,520,563 ) -
Total current tax (268,224 ) 879,180

Deferred tax (51,964 ) -
Tax on profit (320,188 ) 879,180

The overprovision in the prior year relates to a corporation tax charge which was ultimately group relieved.

8. Tangible fixed assets
Improvements Plant and Motor Computer
to property machinery vehicles equipment Totals
£ £ £ £ £
Cost
At 1 April 2022 55,494 2,920,886 24,468 8,234 3,009,082
Additions 6,804 86,982 - 187 93,973
At 30 March 2023 62,298 3,007,868 24,468 8,421 3,103,055
Depreciation
At 1 April 2022 17,313 2,070,972 24,468 4,686 2,117,439
Charge for period (2,303 ) 382,953 - 1,186 381,836
At 30 March 2023 15,010 2,453,925 24,468 5,872 2,499,275
Net book value
At 30 March 2023 47,288 553,943 - 2,549 603,780
At 31 March 2022 38,181 849,914 - 3,548 891,643

GO TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 08786702)

Notes to the Financial Statements - continued
for the period 1 April 2022 to 30 March 2023


8. Tangible fixed assets - continued

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
and 30 March 2023 1,517,689 24,468 1,542,157
Depreciation
At 1 April 2022 1,320,344 24,468 1,344,812
Charge for period 142,238 - 142,238
At 30 March 2023 1,462,582 24,468 1,487,050
Net book value
At 30 March 2023 55,107 - 55,107
At 31 March 2022 197,345 - 197,345

9. Fixed asset investments
Shares in
group
undertakings
£
Cost
At 1 April 2022 1,849,153
Additions (13,000 )
At 30 March 2023 1,836,153
Net book value
At 30 March 2023 1,836,153
At 31 March 2022 1,849,153

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Capital Traffic Management Limited
Registered office: Chaddock Lane, Worsley, Greater Manchester M28 1XW
Nature of business: Traffic management
%
Class of shares: holding
Ordinary 100.00
2023 2022
£ £
Aggregate capital and reserves 1,599,123 1,469,256
Profit for the period/year 129,867 471,517

10. Stocks
2023 2022
£ £
Stocks 448,880 131,931

GO TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 08786702)

Notes to the Financial Statements - continued
for the period 1 April 2022 to 30 March 2023


11. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 2,053,232 1,955,361
Amounts owed by group undertakings 13,057,596 2,950,249
Deferred tax asset
Accelerated capital allowances 84,289 32,325
Prepayments and accrued income 759,723 93,441
15,954,840 5,031,376

12. Creditors: amounts falling due within one year
2023 2022
£ £
Hire purchase contracts (see note 14) - 23,422
Trade creditors 431,427 305,605
Corporation tax 1,252,339 1,005,563
Social security and other taxes 268,127 106,017
VAT 1,210,829 706,092
Other creditors 239,109 292,471
Accruals and deferred income 2,470,689 1,247,473
5,872,520 3,686,643

13. Creditors: amounts falling due after more than one year
2023 2022
£ £
Other creditors - 200,000

14. Leasing agreements

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£ £
Net obligations repayable:
Within one year - 23,422

15. Secured debts

The following secured debts are included within creditors:

2023 2022
£ £
Hire purchase contracts - 23,422

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

16. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
10,000 Ordinary £1 10,000 10,000

GO TRAFFIC MANAGEMENT LIMITED (REGISTERED NUMBER: 08786702)

Notes to the Financial Statements - continued
for the period 1 April 2022 to 30 March 2023


16. Called up share capital - continued

All shares are entitled to dividends as declared, to vote at meetings and to a share of assets on a winding up.

17. Reserves
Retained
earnings
£

At 1 April 2022 6,425,869
Profit for the period 6,812,024
At 30 March 2023 13,237,893

18. Contingent liabilities

The company has guaranteed the bank loans of Nyetimber Bidco Limited (2022 Network Plus Group Limited). At 30 March 2023 the total loan was £207,500,000 (2022 - £75,000,000).The indebtedness of other group companies was £nil (2022 - £nil).

19. Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

20. Ultimate controlling party

The immediate parent company, by virtue of its 100% shareholding, is Network Plus Utility Services Limited, a company registered in the United Kingdom.

Nyetimber Finco Limited, a company registered in the United Kingdom, is the parent undertaking of the smallest group of undertakings to consolidate these financial statements. OMERS Administration Corporation is the beneficial owner of Nyetimber Finco Limited.