Company Registration No. 03203937 (England and Wales)
Route Research Limited
Unaudited accounts
for the year ended 31 December 2023
Route Research Limited
Unaudited accounts
Contents
Route Research Limited
Company Information
for the year ended 31 December 2023
Directors
C M Marjoram
M Knott
T R Lumb
J Copley
B J Beeftink
R Bon
J R Cotterrell
D C Wiles
E D Turner
T J Sapsford
J J Davidson
C P Forrester
Company Number
03203937 (England and Wales)
Registered Office
7-9 Charlotte Street
London
W1T 1RG
Accountants
Clearfin Accountants Limited
Churchill House
137-139 Brent Street
London
NW4 4DJ
Route Research Limited
Statement of financial position
as at 31 December 2023
Tangible assets
84,313
75,231
Debtors
1,674,886
1,425,011
Cash at bank and in hand
871,851
1,026,773
Creditors: amounts falling due within one year
(1,262,937)
(1,193,207)
Net current assets
1,283,800
1,258,577
Total assets less current liabilities
1,368,113
1,333,808
Provisions for liabilities
Deferred tax
(21,078)
(14,107)
Other provisions
(40,968)
(40,968)
Net assets
1,306,067
1,278,733
Profit and loss account
1,306,067
1,278,733
Members' funds
1,306,067
1,278,733
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2024 and were signed on its behalf by
E D Turner
Director
Company Registration No. 03203937
Route Research Limited
Notes to the Accounts
for the year ended 31 December 2023
Route Research Limited is a private company, limited by guarantee, registered in England and Wales, registration number 03203937. The registered office is 7-9 Charlotte Street, London, W1T 1RG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Over the 5 year life of the lease
Plant & machinery
20% on cost
Fixtures & fittings
20% on cost
Computer equipment
33% on cost
Turnover represents net invoiced amounts due for subscriptions and contributions by the members of IPA Outdoor being outdoor specialists and the members of Outsmart Out of Home Limited (OOH) to cover the administration and various projects' budgets undertaken by the company and charges to users of the company's database.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the
lease.
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate and include director and employee contributions under a salary sacrifice agreement.
Route Research Limited
Notes to the Accounts
for the year ended 31 December 2023
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2023
30,552
464,540
14,980
72,970
583,042
Additions
23,503
-
16,718
12,805
53,026
Revaluations
-
-
-
(9,055)
(9,055)
Disposals
(30,552)
-
(615)
-
(31,167)
At 31 December 2023
23,503
464,540
31,083
76,720
595,846
At 1 January 2023
30,552
400,657
14,980
61,622
507,811
Charge for the year
4,701
24,733
3,344
11,166
43,944
On disposals
(30,552)
-
(615)
(9,055)
(40,222)
At 31 December 2023
4,701
425,390
17,709
63,733
511,533
At 31 December 2023
18,802
39,150
13,374
12,987
84,313
At 31 December 2022
-
63,883
-
11,348
75,231
Amounts falling due within one year
Trade debtors
1,188,320
1,202,163
Accrued income and prepayments
275,811
14,991
Other debtors
210,755
207,857
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
83,154
12,497
Taxes and social security
38,665
22,616
Deferred income
981,378
928,231
Route Research Limited
Notes to the Accounts
for the year ended 31 December 2023
7
Deferred taxation
2023
2022
Accelerated capital allowances
21,078
14,107
Provision at start of year
14,107
9,062
Charged to the profit and loss account
6,971
5,045
Provision at end of year
21,078
14,107
8
Provisions for liabilities
£
At 31 December 2023
40,968
9
Company limited by guarantee
The company is limited by guarantee and in accordance with the Memorandum and Articles of Association the liability of members is limited to £1. The members are:
Outsmart Out of Home Limited
IPA Outdoor (representing the outdoor specialists)
The Institute of Practitioners in Advertising
The agreement for the company's audience measurement service was commissioned on 8 September 2016. It runs from 1 April 2017 to 31 March 2023 for a total sum of £15.1m.
The agreement was extended for two further years to 31 March 2025 for an additional sum of £6,068,768.
The principal members of the organisations named in the final note to the accounts (headed "Company limited by guarantee") who each entered into funding agreements to underwrite the costs of the company throughout the periods of the original research contract and the extension thereto (or such earlier termination for any reason in accordance with the terms thereof) also agreed a new funding agreement for the period of the new research contract which commenced on 1 April 2017. The total amount underwritten is £20.4m (£3.4m per annum).
11
Average number of employees
During the year the average number of employees was 3 (2022: 3).