IRIS Accounts Production v24.3.0.553 06926903 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false Ordinary A 0.01000 Ordinary B 0.01000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh069269032023-03-31069269032024-03-31069269032023-04-012024-03-31069269032022-03-31069269032022-04-012023-03-31069269032023-03-3106926903ns15:EnglandWales2023-04-012024-03-3106926903ns14:PoundSterling2023-04-012024-03-3106926903ns10:Director12023-04-012024-03-3106926903ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3106926903ns10:SmallEntities2023-04-012024-03-3106926903ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3106926903ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3106926903ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3106926903ns10:FullAccounts2023-04-012024-03-3106926903ns10:OrdinaryShareClass12023-04-012024-03-3106926903ns10:OrdinaryShareClass22023-04-012024-03-3106926903ns10:Director22023-04-012024-03-3106926903ns10:RegisteredOffice2023-04-012024-03-3106926903ns5:CurrentFinancialInstruments2024-03-3106926903ns5:CurrentFinancialInstruments2023-03-3106926903ns5:ShareCapital2024-03-3106926903ns5:ShareCapital2023-03-3106926903ns5:CapitalRedemptionReserve2024-03-3106926903ns5:CapitalRedemptionReserve2023-03-3106926903ns5:RetainedEarningsAccumulatedLosses2024-03-3106926903ns5:RetainedEarningsAccumulatedLosses2023-03-3106926903ns5:ComputerEquipment2023-04-012024-03-3106926903ns5:ComputerEquipment2023-03-3106926903ns5:ComputerEquipment2024-03-3106926903ns5:ComputerEquipment2023-03-3106926903ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3106926903ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3106926903ns10:OrdinaryShareClass12024-03-3106926903ns10:OrdinaryShareClass22024-03-31
REGISTERED NUMBER: 06926903 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2024

for

R and D Tax Specialists Limited

R and D Tax Specialists Limited (Registered number: 06926903)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


R and D Tax Specialists Limited

Company Information
for the Year Ended 31 March 2024







Directors: Mr G P J Hague
Mr E H Owen





Registered office: 22 Alexandra Road
Malvern
Worcestershuire
WR14 1HQ





Registered number: 06926903 (England and Wales)





Accountants: Crowthers Chartered Accountants
19 High Street
Pershore
Worcestershire
WR10 1AA

R and D Tax Specialists Limited (Registered number: 06926903)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 342 1

CURRENT ASSETS
Debtors 5 122,068 108,339
Cash at bank 147,298 152,104
269,366 260,443
CREDITORS
Amounts falling due within one year 6 141,616 130,471
NET CURRENT ASSETS 127,750 129,972
TOTAL ASSETS LESS CURRENT
LIABILITIES

128,092

129,973

PROVISIONS FOR LIABILITIES 86 -
NET ASSETS 128,006 129,973

CAPITAL AND RESERVES
Called up share capital 7 7 7
Capital redemption reserve 3 3
Retained earnings 127,996 129,963
SHAREHOLDERS' FUNDS 128,006 129,973

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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.

R and D Tax Specialists Limited (Registered number: 06926903)

Balance Sheet - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 October 2024 and were signed on its behalf by:





Mr G P J Hague - Director


R and D Tax Specialists Limited (Registered number: 06926903)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

R and D Tax Specialists 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

R and D Tax Specialists Limited (Registered number: 06926903)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

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

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.


R and D Tax Specialists Limited (Registered number: 06926903)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
Cost
At 1 April 2023 981
Additions 510
At 31 March 2024 1,491
Depreciation
At 1 April 2023 980
Charge for year 169
At 31 March 2024 1,149
Net book value
At 31 March 2024 342
At 31 March 2023 1

R and D Tax Specialists Limited (Registered number: 06926903)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 119,149 108,339
Other debtors 2,919 -
122,068 108,339

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 38,459 15,438
Taxation and social security 99,808 112,533
Other creditors 3,349 2,500
141,616 130,471

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
385 Ordinary A 0.01 4 4
315 Ordinary B 0.01 3 3
7 7