REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
ROUTEWARE HOLDINGS LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
ROUTEWARE HOLDINGS LIMITED |
ROUTEWARE HOLDINGS LIMITED (REGISTERED NUMBER: SC395396) |
Contents of the Financial Statements |
for the year ended 31 December 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
Chartered Accountants' Report | 6 |
ROUTEWARE HOLDINGS LIMITED |
Company Information |
for the year ended 31 December 2023 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
Aissela |
46 High Street |
Esher |
Surrey |
KT10 9QY |
ROUTEWARE HOLDINGS LIMITED (REGISTERED NUMBER: SC395396) |
Statement of Financial Position |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investments | 4 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Capital and reserves |
Called up share capital | 7 |
Capital redemption reserve |
Retained earnings |
Shareholders' funds |
The directors acknowledge their 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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
ROUTEWARE HOLDINGS LIMITED (REGISTERED NUMBER: SC395396) |
Notes to the Financial Statements |
for the year ended 31 December 2023 |
1. | Statutory information |
Routeware Holdings Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
Going Concern |
The financial statements have been prepared on a going concern basis. The basis is considered appropriate by the directors. |
The Directors have reviewed and considered relevant information in making their assessment. In particular, the recoverability of the inter-company debtors to pay for small costs as and when they become due. The inter-company debt is owed in part by a subsidiary company and part from the parent undertaking in the US. The subsidiary has reviewed and considered their annual budget and future cash flows in making their own going concern assessment. The Directors of the subsidiary have concluded that it can continue as a going concern and repay debts as required. |
The financial statements do not include any adjustments that would be required if the going concern concept was not deemed appropriate. |
The company was dormant throughout the current year and previous year. |
Key source of estimation, uncertainty and judgement |
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period. |
There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts. |
Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
ROUTEWARE HOLDINGS LIMITED (REGISTERED NUMBER: SC395396) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
2. | Accounting policies - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
3. | Employees and directors |
The average number of employees during the year was NIL (2022 - NIL). |
4. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 January 2023 |
and 31 December 2023 |
Net book value |
At 31 December 2023 |
At 31 December 2022 |
5. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
6. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Amounts owed to group undertakings |
7. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 164,100 | 164,100 |
ROUTEWARE HOLDINGS LIMITED (REGISTERED NUMBER: SC395396) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
8. | Related party disclosures |
Debtors includes amounts totalling £1,391,807 due from group companies (2022: £1,391,807). |
Creditors due within one year include amounts owed to group companies totalling £1 (2022: £1). |
9. | Ultimate controlling party |
The ultimate controlling party is |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Routeware Holdings Limited |
The following reproduces the text of the report prepared for the directors 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 Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors 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 Routeware Holdings Limited for the year ended 31 December 2023 which comprise the Profit and Loss Account, Statement of Financial Position, Statement of Changes in Equity 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Routeware Holdings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Routeware Holdings Limited and state those matters that we have agreed to state to the Board of Directors of Routeware Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Routeware Holdings Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Routeware Holdings 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 Routeware Holdings Limited. You consider that Routeware Holdings 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 Routeware Holdings 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. |
Aissela |
46 High Street |
Esher |
Surrey |
KT10 9QY |