Company registration number 12552433 (England and Wales)
TEST DRIVEN SOLUTIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
TEST DRIVEN SOLUTIONS LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 9
TEST DRIVEN SOLUTIONS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
52,355
48,923
Investments
4
951
951
53,306
49,874
Current assets
Debtors
6
1,456,779
946,069
Cash at bank and in hand
1,461,722
1,262,228
2,918,501
2,208,297
Creditors: amounts falling due within one year
7
(819,255)
(790,254)
Net current assets
2,099,246
1,418,043
Total assets less current liabilities
2,152,552
1,467,917
Creditors: amounts falling due after more than one year
8
-
0
(4,234)
Provisions for liabilities
(7,545)
(6,910)
Net assets
2,145,007
1,456,773
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
2,144,907
1,456,673
Total equity
2,145,007
1,456,773

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

TEST DRIVEN SOLUTIONS LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
30 APRIL 2024
30 April 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 14 April 2025
S Clark
Director
Company Registration No. 12552433
TEST DRIVEN SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information

Test Driven Solutions Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Spire Suite 14, 2nd Floor, Pilgrim Street, Newcastle upon Tyne, NE1 2DS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
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.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
over 5 years
Right of use asset (vehicle)
Leased over 48 months

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

TEST DRIVEN SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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.

Classification of financial liabilities

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.

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.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

TEST DRIVEN SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 5 -
1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Share-based payments

Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using the Black-Scholes model. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.

When the terms and conditions of equity-settled share-based payments at the time they were granted are subsequently modified, the fair value of the share-based payment under the original terms and conditions and under the modified terms and conditions are both determined at the date of the modification. Any excess of the modified fair value over the original fair value is recognised over the remaining vesting period in addition to the grant date fair value of the original share-based payment. The share-based payment expense is not adjusted if the modified fair value is less than the original fair value.

 

Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.

TEST DRIVEN SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 6 -
1.13
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.14
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
66
53
TEST DRIVEN SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 7 -
3
Tangible fixed assets
Computers
Right of use asset (vehicle)
Total
£
£
£
Cost
At 1 May 2023
57,173
22,441
79,614
Additions
25,755
-
0
25,755
Disposals
(821)
-
0
(821)
At 30 April 2024
82,107
22,441
104,548
Depreciation and impairment
At 1 May 2023
17,565
13,126
30,691
Depreciation charged in the year
16,421
5,081
21,502
At 30 April 2024
33,986
18,207
52,193
Carrying amount
At 30 April 2024
48,121
4,234
52,355
At 30 April 2023
39,608
9,315
48,923
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
951
951
5
Subsidiaries

Details of the company's subsidiaries at 30 April 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
TEST DRIVEN SOLUTIONS CANADA LIMITED
10th Floor, Bankers Hall West Tower
888 3rd Street SW, Calgary
Alberta  T2P 5C5
Ordinary
100.00
TEST DRIVEN SOLUTIONS POLAND LIMITED
Loftmill
Sagittarius Business House
Sucha street 2
50-086 Wroclaw
Ordinary
100.00
TEST DRIVEN SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 8 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,048,050
839,583
Other debtors
373,702
99,885
Prepayments and accrued income
35,027
6,601
1,456,779
946,069
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
9
172,843
81,744
Obligations under finance leases
4,234
5,081
Trade creditors
63,872
76,468
Corporation tax
113,366
206,891
Other taxation and social security
464,475
382,086
Other creditors
42
3,501
Accruals and deferred income
423
34,483
819,255
790,254

Assets held under hire purchases are secured on the assets to which they relate

8
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Obligations under finance leases
-
0
4,234

Assets held under hire purchases are secured on the assets to which they relate

9
Loans and overdrafts
2024
2023
£
£
Bank overdrafts
172,843
81,744
Payable within one year
172,843
81,744
TEST DRIVEN SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 9 -
10
Related party transactions

Test Driven Solutions Limited provided a loan to Test Driven Solutions Canada Limited totalling £308,320. No fixed terms of repayment are attached to the loan. Test Driven Solutions Limited (UK) owns 100% shareholding in Test Driven Solutions Canada Limited.

 

Test Driven Solutions Limited provided a loan to Test Driven Solutions Poland totalling £53,094. No fixed terms of repayment are attached to the loan. Test Driven Solutions Limited (UK) owns 100% shareholding in Test Driven Solutions Poland.

2024-04-302023-05-01falsefalsefalse15 April 2025CCH SoftwareCCH Accounts Production 2024.310No description of principal activityS Clark125524332023-05-012024-04-30125524332024-04-30125524332023-04-3012552433core:ComputerEquipment2024-04-3012552433core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2024-04-3012552433core:ComputerEquipment2023-04-3012552433core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-04-3012552433core:CurrentFinancialInstrumentscore:WithinOneYear2024-04-3012552433core:CurrentFinancialInstrumentscore:WithinOneYear2023-04-3012552433core:Non-currentFinancialInstrumentscore:AfterOneYear2024-04-3012552433core:Non-currentFinancialInstrumentscore:AfterOneYear2023-04-3012552433core:CurrentFinancialInstruments2024-04-3012552433core:CurrentFinancialInstruments2023-04-3012552433core:ShareCapital2024-04-3012552433core:ShareCapital2023-04-3012552433core:RetainedEarningsAccumulatedLosses2024-04-3012552433core:RetainedEarningsAccumulatedLosses2023-04-3012552433bus:Director12023-05-012024-04-3012552433core:ComputerEquipment2023-05-012024-04-3012552433core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-05-012024-04-30125524332022-05-012023-04-3012552433core:ComputerEquipment2023-04-3012552433core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-04-30125524332023-04-3012552433core:Subsidiary12023-05-012024-04-3012552433core:Subsidiary22023-05-012024-04-3012552433core:Subsidiary112023-05-012024-04-3012552433core:Subsidiary212023-05-012024-04-3012552433core:Non-currentFinancialInstruments2024-04-3012552433core:Non-currentFinancialInstruments2023-04-3012552433bus:PrivateLimitedCompanyLtd2023-05-012024-04-3012552433bus:SmallCompaniesRegimeForAccounts2023-05-012024-04-3012552433bus:FRS1022023-05-012024-04-3012552433bus:AuditExemptWithAccountantsReport2023-05-012024-04-3012552433bus:FullAccounts2023-05-012024-04-30xbrli:purexbrli:sharesiso4217:GBP