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Registration number: 02531671

SPECIALIST DATA SOLUTIONS LIMITED

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 August 2024

 

SPECIALIST DATA SOLUTIONS LIMITED

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 9

 

SPECIALIST DATA SOLUTIONS LIMITED

Company Information

Director

J D A Chartres

Company secretary

V J Chartres

Registered office

SDS House
Bishopric
Horsham
West Sussex
RH12 1QN

Accountants

Minney & Company
Chartered Accountants249 Silbury Boulevard
Milton Keynes
Bucks
MK9 1NA

 

SPECIALIST DATA SOLUTIONS LIMITED

(Registration number: 02531671)
Abridged Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

129,354

122,470

Current assets

 

Debtors

5

4,289,558

3,243,438

Cash at bank and in hand

 

888,869

1,572,274

 

5,178,427

4,815,712

Prepayments and accrued income

 

162,983

206,140

Creditors: Amounts falling due within one year

(1,159,671)

(871,563)

Net current assets

 

4,181,739

4,150,289

Total assets less current liabilities

 

4,311,093

4,272,759

Provisions for liabilities

(32,212)

(30,774)

Accruals and deferred income

 

(13,329)

(12,938)

Net assets

 

4,265,552

4,229,047

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

4,265,452

4,228,947

Shareholders' funds

 

4,265,552

4,229,047

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 14 April 2025
 

 

SPECIALIST DATA SOLUTIONS LIMITED

(Registration number: 02531671)
Abridged Balance Sheet as at 31 August 2024

.........................................
J D A Chartres
Director

 

SPECIALIST DATA SOLUTIONS LIMITED

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
SDS House
Bishopric
Horsham
West Sussex
RH12 1QN
England

These financial statements were authorised for issue by the director on 14 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

SPECIALIST DATA SOLUTIONS LIMITED

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

over lease term

Motor vehicles

25% on reducing balance

Office equipment

25% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

SPECIALIST DATA SOLUTIONS LIMITED

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 17 (2023 - 15).

 

SPECIALIST DATA SOLUTIONS LIMITED

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Long leasehold land and buildings
£

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 September 2023

67,194

33,416

83,766

104,100

Additions

-

-

16,993

32,995

Disposals

-

-

(4,621)

-

At 31 August 2024

67,194

33,416

96,138

137,095

Depreciation

At 1 September 2023

67,194

12,409

67,990

18,413

Charge for the year

-

5,252

6,658

28,983

Eliminated on disposal

-

-

(2,410)

-

At 31 August 2024

67,194

17,661

72,238

47,396

Carrying amount

At 31 August 2024

-

15,755

23,900

89,699

At 31 August 2023

-

21,007

15,776

85,687

Total
£

Cost or valuation

At 1 September 2023

288,476

Additions

49,988

Disposals

(4,621)

At 31 August 2024

333,843

Depreciation

At 1 September 2023

166,006

Charge for the year

40,893

Eliminated on disposal

(2,410)

At 31 August 2024

204,489

Carrying amount

At 31 August 2024

129,354

At 31 August 2023

122,470

 

SPECIALIST DATA SOLUTIONS LIMITED

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of long leasehold land and buildings and £Nil (2023 - £Nil) in respect of short leasehold land and buildings.
 

5

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share of £1 each

100

100

100

100

       

7

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £5,000.00 (2023 - £17,800.00) per each Ordinary share

500,000

1,780,000

 

 

8

Related party transactions

Summary of transactions with parent

Specialist Data Holdings Limited During the year the company paid dividends amounting to £500,000 (2023 - £1,780,000)

Summary of transactions with subsidiaries

Specialist Data Software Limited During the year the company purchased software licences amounting to £550,000 (2023 - £550,000)

Summary of transactions with associates

During the year the company received management charges amounting to £2,118,457 (2023 - £2,302,060)

Loans to related parties

2024

Parent
£

Subsidiary
£

Total
£

At start of period

2,647,988

531,594

3,179,582

Advanced

585,133

22,403

607,536

At end of period

3,233,121

553,997

3,787,118

 

SPECIALIST DATA SOLUTIONS LIMITED

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

2023

Parent
£

Subsidiary
£

Total
£

At start of period

1,172,960

1,633,081

2,806,041

Advanced

1,475,028

-

1,475,028

Repaid

-

(1,101,487)

(1,101,487)

At end of period

2,647,988

531,594

3,179,582

Loans from related parties

2024

Associates
£

Total
£

At start of period

541,208

541,208

Advanced

125,125

125,125

At end of period

666,333

666,333

2023

Associates
£

Total
£

At start of period

837,527

837,527

Repaid

(296,319)

(296,319)

At end of period

541,208

541,208

9

Parent and ultimate parent undertaking

The company's immediate parent is Specialist Data Holdings Limited, incorporated in England.

  These financial statements are available upon request from SDS House, Bishopric, Horsham, West Sussex. RH12 1QN