Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The tax expense for the year comprises current and deferred tax. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.3false2023-04-01IT Consultancy services3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 06134852 2023-04-01 2024-03-31 06134852 2022-04-01 2023-03-31 06134852 2024-03-31 06134852 2023-03-31 06134852 c:CompanySecretary1 2023-04-01 2024-03-31 06134852 c:Director1 2023-04-01 2024-03-31 06134852 c:Director2 2023-04-01 2024-03-31 06134852 c:RegisteredOffice 2023-04-01 2024-03-31 06134852 d:FurnitureFittings 2023-04-01 2024-03-31 06134852 d:FurnitureFittings 2024-03-31 06134852 d:FurnitureFittings 2023-03-31 06134852 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06134852 d:OfficeEquipment 2023-04-01 2024-03-31 06134852 d:OfficeEquipment 2024-03-31 06134852 d:OfficeEquipment 2023-03-31 06134852 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06134852 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06134852 d:CurrentFinancialInstruments 2024-03-31 06134852 d:CurrentFinancialInstruments 2023-03-31 06134852 d:Non-currentFinancialInstruments 2024-03-31 06134852 d:Non-currentFinancialInstruments 2023-03-31 06134852 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 06134852 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 06134852 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 06134852 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 06134852 d:ShareCapital 2024-03-31 06134852 d:ShareCapital 2023-03-31 06134852 d:RetainedEarningsAccumulatedLosses 2024-03-31 06134852 d:RetainedEarningsAccumulatedLosses 2023-03-31 06134852 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 06134852 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 06134852 d:TaxLossesCarry-forwardsDeferredTax 2024-03-31 06134852 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 06134852 c:OrdinaryShareClass1 2023-04-01 2024-03-31 06134852 c:OrdinaryShareClass1 2024-03-31 06134852 c:OrdinaryShareClass2 2023-04-01 2024-03-31 06134852 c:OrdinaryShareClass2 2024-03-31 06134852 c:FRS102 2023-04-01 2024-03-31 06134852 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06134852 c:FullAccounts 2023-04-01 2024-03-31 06134852 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06134852 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-04-01 2024-03-31 06134852 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-03-31 06134852 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-03-31 06134852 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 06134852









R D RESEARCH LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
R D RESEARCH LIMITED
 
 
COMPANY INFORMATION


Directors
G C Williamson 
P J S R Williamson 




Company secretary
G C Williamson



Registered number
06134852



Registered office
Oak Lodge Business Centre
129 School Lane

Little Melton

Norwich

Norfolk

NR9 3LB




Accountants
MA Partners LLP
Chartered Accountants

7 The Close

Norwich

Norfolk

NR1 4DJ





 
R D RESEARCH LIMITED
 

CONTENTS



Page
Accountants' Report
 
 
1
Balance Sheet
 
 
2 - 3
Notes to the Financial Statements
 
 
4 - 9


 
R D RESEARCH LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF R D RESEARCH LIMITED
FOR THE YEAR ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of R D Research Limited for the year ended 31 March 2024 which comprise  the Balance Sheet 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 at https://www.icaew.com/regulation.

This report is made solely to the Board of Directors of R D Research Limited, as a body, in accordance with the terms of our engagement letter dated 1 December 2023Our work has been undertaken solely to prepare for your approval the financial statements of R D Research Limited and state those matters that we have agreed to state to the Board of Directors of R D Research Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than R D Research Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that R D Research 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 R D Research Limited. You consider that R D Research Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of R D Research 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.

  





MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ

16 September 2024
Page 1

 
R D RESEARCH LIMITED
REGISTERED NUMBER: 06134852

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,535
1,919

  
5,535
1,919

Current assets
  

Debtors: amounts falling due within one year
 5 
138,438
98,713

Cash at bank and in hand
  
-
8,757

  
138,438
107,470

Creditors: amounts falling due within one year
 6 
(408,727)
(389,783)

Net current liabilities
  
 
 
(270,289)
 
 
(282,313)

Total assets less current liabilities
  
(264,754)
(280,394)

Creditors: amounts falling due after more than one year
 7 
(38,608)
(38,178)

  

Net liabilities
  
(303,362)
(318,572)


Capital and reserves
  

Called up share capital 
 9 
120
120

Profit and loss account
  
(303,482)
(318,692)

  
(303,362)
(318,572)


Page 2

 
R D RESEARCH LIMITED
REGISTERED NUMBER: 06134852
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 profit and loss account 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 16 September 2024.






G C Williamson
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
R D RESEARCH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The Company is a private company limited by shares.  It is both incorporated and domiciled in England and Wales.  The registered office is Oak Lodge Business Centre, 129 School Lane, Little Melton, Norwich, Norfolk, NR9 3LB.
The Company's principal activity is that of software development and IT consultancy services and the Company’s principal place of activity is Norwich.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have considered a period of twelve months from the date of approval of the financial statements. They consider that projected income together with current cash reserves will be more than adequate for the Company's needs. As such they believe that the financial statements should be prepared on the going concern basis.

 
2.3

Revenue

Turnover comprises revenue recognised by the company for software development and IT consultancy services in the period in which the services are provided, net of VAT.

 
2.4

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.

 
2.5

Borrowing costs

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

Page 4

 
R D RESEARCH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. 

Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
reducing balance
Office equipment
-
33%
reducing balance

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.

 
2.8

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's fair value less costs to sell and value in use.

Page 5

 
R D RESEARCH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

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.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 6

 
R D RESEARCH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
3,866
28,846
32,712


Additions
-
6,334
6,334



At 31 March 2024

3,866
35,180
39,046



Depreciation


At 1 April 2023
3,816
26,976
30,792


Charge for the year on owned assets
12
2,707
2,719



At 31 March 2024

3,828
29,683
33,511



Net book value



At 31 March 2024
38
5,497
5,535



At 31 March 2023
49
1,870
1,919


5.


Debtors

2024
2023
£
£


Trade debtors
11,779
6,003

Other debtors
66,600
24,056

Prepayments and accrued income
-
3,400

Deferred taxation
60,059
65,254

138,438
98,713


Page 7

 
R D RESEARCH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
3,152
-

Bank loans
8,121
7,640

Trade creditors
18,452
25,618

Other taxation and social security
4,678
5,198

Other creditors
346,830
326,250

Accruals and deferred income
27,494
25,077

408,727
389,783



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
38,608
38,178

38,608
38,178


The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

2024
2023
£
£


Repayable by instalments
9,448
8,968

9,448
8,968



Page 8

 
R D RESEARCH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Deferred taxation




2024


£






At beginning of year
65,254


Charged to profit or loss
(5,195)



At end of year
60,059

The deferred tax asset is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(1,383)
(480)

Tax losses carried forward
61,442
65,734

60,059
65,254


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 A Ordinary shares of £1.00 each
100
100
20 B Ordinary shares of £1.00 each
20
20

120

120



10.


Related party transactions

As at 31 March 2024, the Company owed the directors £340,333 (2023: £318,889)

 
Page 9