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Registered number: 03729928









THE TELEPHONE PREFERENCE SERVICE LIMITED









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
THE TELEPHONE PREFERENCE SERVICE LIMITED
REGISTERED NUMBER: 03729928

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 5 
-
8,469

Tangible assets
 6 
-
-

  
-
8,469

Current assets
  

Debtors: amounts falling due within one year
 7 
1,291,692
1,495,696

Cash at bank and in hand
 8 
510,672
249,715

  
1,802,364
1,745,411

Creditors: amounts falling due within one year
 9 
(1,173,319)
(1,006,062)

Net current assets
  
 
 
629,045
 
 
739,349

Total assets less current liabilities
  
629,045
747,818

Creditors: amounts falling due after more than one year
 10 
(129,167)
(179,167)

  

Net assets
  
499,878
568,651


Capital and reserves
  

Called up share capital 
 12 
1,000
1,000

Profit and loss account
 13 
498,878
567,651

  
499,878
568,651


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 March 2024.

A Merron
Director

The notes on pages 2 to 9 form part of these financial statements.

Page 1

 
THE TELEPHONE PREFERENCE SERVICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

The Telephone Preference Service Limited is a private company limited by shares incorporated in England & Wales under the Companies Act. The address of the registered office is Lynton House, 7-12 Tavistock Square, London, WC1H 9LT. The nature of the company and its principal activity are set out in the directors' report.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Data and Marketing Association Limited as at 31 March 2023 and these financial statements may be obtained from Companies House.

  
2.3

Going Concern

The directors have considered the ability of the Company to continue as a Going Concern. In making their assessment the directors have prepared and critically reviewed the Company's cash flow forecast for the next 12 months and ensured that this forecast is modelled on a suitably cautious basis. Further information on the future outlook of the business can be seen in the commentary provided in the Strategic, Chairman’s and CEO’s reports included within the Group’s consolidated financial statements.  

Page 2

 
THE TELEPHONE PREFERENCE SERVICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Database Development
-
3
years

Page 3

 
THE TELEPHONE PREFERENCE SERVICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following annual basis:

Computer equipment
-
3 years
Office equipment
-
5 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. 
Financial assets that are measured at cost and amortised cost are assessed at the end of each
reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings.

Page 4

 
THE TELEPHONE PREFERENCE SERVICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The directors do not consider that there are any significant judgments in applying accounting policies or estimation uncertainty arising in the preparation of these financial statements. 


4.


Employees

The average monthly number of employees, including directors, during the year was 11 (2022 - 11).


5.


Intangible assets




Database Development

£



Cost


At 1 April 2022
98,085



At 31 March 2023

98,085



Amortisation


At 1 April 2022
89,616


Charge for the year on owned assets
8,469



At 31 March 2023

98,085



Net book value



At 31 March 2023
-



At 31 March 2022
8,469



Page 5

 
THE TELEPHONE PREFERENCE SERVICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Tangible fixed assets





Computer equipment
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2022
14,472
2,555
17,027



At 31 March 2023

14,472
2,555
17,027



Depreciation


At 1 April 2022
14,472
2,555
17,027



At 31 March 2023

14,472
2,555
17,027



Net book value



At 31 March 2023
-
-
-



At 31 March 2022
-
-
-


7.


Debtors

2023
2022
£
£


Trade debtors
23,274
76,492

Amounts owed by group undertakings
1,268,418
1,419,204

1,291,692
1,495,696



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
510,672
249,715


Page 6

 
THE TELEPHONE PREFERENCE SERVICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
50,000
50,000

Trade creditors
249,440
287,692

Other taxation and social security
-
4,289

Other creditors
606,513
622,570

Accruals and deferred income
267,366
41,511

1,173,319
1,006,062



10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
129,167
179,167


The following liabilities were secured:

2023
2022
£
£



Bank loans
179,167
229,167

Details of security provided:

The company's CBIL loan has been guaranteed by Data and Marketing Association Limited. The Telephone Preference Service Limited has also provided an unlimited debenture.
Interest is charged at 2.09% above the lenders base rate.

Page 7

 
THE TELEPHONE PREFERENCE SERVICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

11.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
50,000
50,000


Amounts falling due 2-5 years

Bank loans
129,167
179,167


179,167
229,167



12.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 (2022 - 1,000) Ordinary shares of £1.00 each
1,000
1,000



13.


Reserves

Profit and loss account

This reserve records retained earnings and accumulated losses.


14.


Related party transactions

The Company has taken advantage of the exemption conferred by FRS102 not to disclose transactions with members of the group headed by the Data and Marketing Association Limited on the grounds that 100% of the voting rights in the company are controlled within that group and the company is included in consolidated financial statements. 


15.


Ultimate parent undertaking and controlling party

The Company's share capital is 100% owned by the Data and Marketing Association Limited (DMA), a company incorporated in the United Kingdom. Copies of DMA's financial statements can be obtained from Companies House.

Page 8

 
THE TELEPHONE PREFERENCE SERVICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

16.


Auditor's information

The auditor's report on the financial statements for the year ended 31 March 2023 was unqualified.

The audit report was signed on 12 March 2024 by Simon Liggins (Senior statutory auditor) on behalf of Barnes Roffe LLP.

Page 9