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REGISTERED NUMBER: 09915313 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Drvn Solutions Limited

Drvn Solutions Limited (Registered number: 09915313)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Drvn Solutions Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: H Bosch
P Siewers
T Fawcett
N A Blagden





REGISTERED OFFICE: Blue Fin
110 Southwark Street
London
SE1 0TA





REGISTERED NUMBER: 09915313 (England and Wales)





AUDITORS: JWR Audit Limited
24 Picton House
Hussar Court
Waterlooville
Hampshire
PO7 7SQ

Drvn Solutions Limited (Registered number: 09915313)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 38,032 38,449

CURRENT ASSETS
Debtors 5 959,934 1,202,884
Cash at bank 67,091 558,410
1,027,025 1,761,294
CREDITORS
Amounts falling due within one year 6 1,004,976 971,486
NET CURRENT ASSETS 22,049 789,808
TOTAL ASSETS LESS CURRENT
LIABILITIES

60,081

828,257

CREDITORS
Amounts falling due after more than one
year

7

11,314,178

8,686,578
NET LIABILITIES (11,254,097 ) (7,858,321 )

CAPITAL AND RESERVES
Called up share capital 8 2,400,000 2,400,000
Share premium 1,571,570 1,571,570
Retained earnings (15,225,667 ) (11,829,891 )
SHAREHOLDERS' FUNDS (11,254,097 ) (7,858,321 )

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 7 March 2025 and were signed on its behalf by:




T Fawcett - Director



H Bosch - Director


Drvn Solutions Limited (Registered number: 09915313)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Drvn Solutions 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 (£).


Accounts are rounded to the nearest pound.

The accounts represent the company as an individual entity.

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 recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover consists of various elements: the sales of hardware, data plans, platform fees and recharges to associated companies.

Revenue from the sale of hardware is recognised when the significant risks and rewards of ownership of the goods have been passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of data plans and platform fees are recognised over the term of the contact and costs incurred and costs to complete can be estimated reliably. Where the outcome of a contract cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

The recharge of development costs to associated companies is recognised in the period to which the development costs relate.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.


Drvn Solutions Limited (Registered number: 09915313)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Employee benefits
The costs of short term employee benefits are recongnised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Going concern
The company meets its day to day working capital requirements through support from its shareholders and the shareholders have confirmed that will continue to support the company for a period of at least 12 months. The directors consider that it is appropriate to prepare the financial statements on a going concern basis as they expect the company to be able to continue to trade within the facilities made available.

Average number of employees
The directors are employed by the joint venture shareholders as employees of those entities. In the opinion of the the directors the time spent performing their duties as directors of the company is insignificant and as a result no costs have been recognised in the statement of comprehensive income.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2022 - 20 ) .

Drvn Solutions Limited (Registered number: 09915313)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 24,226 64,822 89,048
Additions - 18,223 18,223
At 31 December 2023 24,226 83,045 107,271
DEPRECIATION
At 1 January 2023 21,209 29,390 50,599
Charge for year 2,920 15,720 18,640
At 31 December 2023 24,129 45,110 69,239
NET BOOK VALUE
At 31 December 2023 97 37,935 38,032
At 31 December 2022 3,017 35,432 38,449

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 35,336 138,361
Amounts owed by group undertakings 561,082 362,410
Other debtors 363,516 702,113
959,934 1,202,884

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 368,064 302,157
Taxation and social security 180,836 98,445
Other creditors 456,076 570,884
1,004,976 971,486

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Amounts owed to group undertakings 11,314,178 8,686,578

Drvn Solutions Limited (Registered number: 09915313)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
2,280,000 A Ordinary £1 2,280,000 2,280,000
120,000 B Ordinary £1 120,000 120,000
2,400,000 2,400,000

A ordinary shares are entitled to one vote per share held, the shares rank equally in respect of dividends and a capital distribution on liquidation

B ordinary share have no dividend or voting rights and are entitled to a refund of capital on liquidation.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

K S Wood (Senior Statutory Auditor)
for and on behalf of JWR Audit Limited

10. RELATED PARTY DISCLOSURES

The AA, ANWB and OAMTC are joint venture owners of the company, together owning, 100% of the issue ordinary share capital. The company has benefitted from the provision of management, legal, professional and administrative support from the AA and ANWB, some of which has been provided at no cost to the company. It is not possible to identify the costs of the services provided as they are in house resource at the AA and ANWB and the cost is marginal.

Included within the amounts due to related parties is an amount of £11,314k (2022: 8,687k) which comprises of loan amounts due to the AA and ANWB, these amounts incur no interest and are repayable by either the issuance of shares at £1 per share, by cash or by a combination of both.

Included within deferred income is an amount of £128k (2022: £196k) representing sales invoiced in advance to the AA, ANWB and OAMTC.

Amounts due from related parties of £561k (2022: £529k) comprise the trading balances with the AA, ANWB and OAMTC.

Included within profit and loss is £1,547k (2022: £1,407k) of sales to the AA, ANWB and OAMTC, and costs of £137k (2022: £133k from the AA and ANWB).

11. ULTIMATE CONTROLLING PARTY

The directors do not consider there to be one ultimate controlling party.