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Registration number: 05634793

Road Data Services Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Road Data Services Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Road Data Services Ltd

Company Information

Director

Mr Stephen James Jonathan Best

Registered office

RDS House
18 The Mount
Alwoodley
Leeds
LS17 7QU

Accountants

Simon Harris & Co
Chartered Certified Accountants
90 Worcester Road
Hagley
Stourbridge
West Midlands
DY9 0NJ

 

Road Data Services Ltd

(Registration number: 05634793)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

11,672

14,579

Other financial assets

5

33,523

31,984

 

45,195

46,563

Current assets

 

Debtors

6

279,587

234,682

Cash at bank and in hand

 

191,469

140,038

 

471,056

374,720

Creditors: Amounts falling due within one year

7

(186,617)

(119,673)

Net current assets

 

284,439

255,047

Total assets less current liabilities

 

329,634

301,610

Provisions for liabilities

(2,211)

(2,762)

Net assets

 

327,423

298,848

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

327,323

298,748

Shareholders' funds

 

327,423

298,848

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 27 August 2024
 

.........................................
Mr Stephen James Jonathan Best
Director

 

Road Data Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales .

The address of its registered office is:
RDS House
18 The Mount
Alwoodley
Leeds
LS17 7QU

These financial statements were authorised for issue by the director on 27 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Road Data Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Equipment

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Road Data Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2022 - 5).

 

Road Data Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 December 2022

48,908

48,908

At 30 November 2023

48,908

48,908

Depreciation

At 1 December 2022

34,329

34,329

Charge for the year

2,907

2,907

At 30 November 2023

37,236

37,236

Carrying amount

At 30 November 2023

11,672

11,672

At 30 November 2022

14,579

14,579

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 December 2022

33,523

33,523

At 30 November 2023

33,523

33,523

Impairment

Carrying amount

At 30 November 2023

33,523

33,523

6

Debtors

 

Road Data Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Current

2023
£

2022
£

Trade debtors

249,127

197,529

Prepayments

2,166

1,314

Other debtors

28,294

35,839

 

279,587

234,682

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

121,177

64,551

Taxation and social security

44,070

38,324

Accruals and deferred income

2,160

2,040

Other creditors

19,210

14,758

186,617

119,673

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Retained earnings
£

Total
£

Unrealised gain/loss on remeasuring equity interest held by acquirer to fair value before business combination

1,539

1,539

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Retained earnings
£

Total
£

Unrealised gain/loss on remeasuring equity interest held by acquirer to fair value before business combination

(3,353)

(3,353)

 

Road Data Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

10

Dividends

2023

2022

£

£

Interim dividend of £37,700.00 (2022 - £37,700.00) per ordinary share

37,700

37,700

 

 

11

Related party transactions

 

Road Data Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

12,570

12,570

Contributions paid to money purchase schemes

85,520

35,200

98,090

47,770