Drivesense Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 06519336

DRIVESENSE LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 December 2024

DRIVESENSE LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

DRIVESENSE LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5		3,953	–

Current assets

Debtors	6	18,240	15,150
Cash at bank and in hand		1,733,910	8,178
		-------------	---------
		1,752,150	23,328

Creditors: amounts falling due within one year	7	( 1,189,976)		( 7,634)
		-------------		---------
Net current assets			562,174	15,694
			----------	---------
Total assets less current liabilities			566,127	15,694

Provisions

Taxation including deferred tax	( 988)	–
	----------	---------
Net assets	565,139	15,694
	----------	---------

Capital and reserves

Called up share capital	1	1
Share premium account	50,000	–
Profit and loss account	515,138	15,693
	----------	---------
Shareholder funds	565,139	15,694
	----------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

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

Directors' responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

DRIVESENSE LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 2 September 2025 , and are signed on behalf of the board by:

T J Gardiner

Director

Company registration number: 06519336

DRIVESENSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lee Barns, Lee Lane, Maidenhead, Berkshire, SL6 6PE.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis and in sterling which is the functional currency of the entity

Revenue recognition

The turnover shown in the profit and loss account represents the value of all work done during the period, exclusive of Value Added Tax. Turnover is recognised at the point at which the company has fulfilled its contractual obligations and the risks and rewards attaching to the sale have been transferred to the customer.

Income tax

Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. The only exception is that deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Office equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2023: 1 ).

5. Tangible assets

	Office equipment	Total
	£	£
Cost
At 1 January 2024	–	–
Additions	5,271	5,271
	-------	-------
At 31 December 2024	5,271	5,271
	-------	-------
Depreciation
At 1 January 2024	–	–
Charge for the year	1,318	1,318
	-------	-------
At 31 December 2024	1,318	1,318
	-------	-------
Carrying amount
At 31 December 2024	3,953	3,953
	-------	-------
At 31 December 2023	–	–
	-------	-------

6. Debtors

	2024	2023
	£	£
Trade debtors	11,761	11,993
Other debtors	6,479	3,157
	---------	---------
	18,240	15,150
	---------	---------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	216,266	2,301
Amounts owed to group undertakings and undertakings in which the company has a participating interest	63,358	1,250
Corporation tax	503,611	–
Social security and other taxes	354,351	2,883
Other creditors	52,390	1,200
	-------------	-------
	1,189,976	7,634
	-------------	-------

8. Related party transactions

The company had the following transactions with related parties during the year:- Osbourne Purdie Limited Drivesense Limited is a subsidiary of Osbourne Purdie Limited. On 22 November 2024 the controlling shareholding was reduced to 83.33% During the year Drivesense Limited were charged £388,196 for management services provided by Osbourne Purdie Limited. There were also payroll and other costs directly recharged amounting to £171,062. At the year end Osbourne Purdie Limited was owed £63,358 from Drivesense Limited. No other transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.

9. Controlling party

The immediate and ultimate parent undertaking is Osbourne Purdie Limited . The individual controlling party is S M Davison .