The Retail Data Partnership Limited - Period Ending 2021-03-31
The Retail Data Partnership Limited - Period Ending 2021-03-31
Registration number:
The Retail Data Partnership Limited
for the Year Ended 31 March 2021
The Retail Data Partnership Limited
Contents
Strategic Report |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
The Retail Data Partnership Limited
Strategic Report for the Year Ended 31 March 2021
The directors present their report and the financial statements for the year ended 31 March 2021.
Principal activity
The principal activity of the company is the provision of a full range of EPOS systems and supporting services to retailers across the UK.
Fair review of the business
2020 was dominated by the impact of the COVID Pandemic. Most of our customers are retailers focused on the convenience sector and experienced a positive increase in their turnover through the year. A minority of our customers have been impacted either due to their sector being closed or due to the location of their stores in high commuter or holiday maker dependent locations. New customer sales were down during the first lockdown but soon returned to normal levels.
The team reacted well to the situation and continued to support customers whilst working from home. Infrastructure changes have made this possible – a move to a cloud-based phone system and online communication tools.
The company also invested in The Basket, a click and collect service to support our ongoing strategic direction.
The company recorded sales of £4m, an increase of 7.5% over 2020.
Profit before tax for the year decreased to £0.223m compared to 2020 at £0.345m. The main difference being a large one-off project completed in 2020.
Customer numbers increased 6.3% (3,021 to 3,213) during the period reflecting the continued focus on customer service and enhanced product offerings.
Looking forward, suppliers’ interest in the convenience sector has increased as they’ve seen its relative importance grow in comparison with the multiples. There has also been increased competition from other EpoS companies pivoting away from the hospitality sector due to the impact of the pandemic. Despite these challenges, the company continues to build on its base of customers and continues with a development agenda to enhance the product offering moving forward.
Approved by the
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The Retail Data Partnership Limited
Statement of Comprehensive Income for the Year Ended 31 March 2021
2021 |
2020 |
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Profit for the year |
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Total comprehensive income for the year |
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The Retail Data Partnership Limited
(Registration number: 03701792)
Balance Sheet as at 31 March 2021
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2021 |
2020 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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The Retail Data Partnership Limited
Statement of Changes in Equity for the Year Ended 31 March 2021
Share capital |
Share premium |
Profit and loss account |
Total |
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At 1 April 2020 |
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Profit for the year |
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Total comprehensive income |
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Dividends |
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- |
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( |
New share capital subscribed |
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- |
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At 31 March 2021 |
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Share capital |
Share premium |
Profit and loss account |
Total |
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At 1 April 2019 |
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Profit for the year |
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- |
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Total comprehensive income |
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- |
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At 31 March 2020 |
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The Retail Data Partnership Limited
Notes to the Financial Statements for the Year Ended 31 March 2021
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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 financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These 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.
Going concern
The financial statements have been prepared on a going concern basis.
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.
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 |
Written off over remaining period of lease |
Motor vehicles |
33.33% reducing balance |
Office equipment |
20% and 33.33% reducing balance |
Computer equipment |
20% straight line |
Other plant and equipment |
20% straight line |
Buildings |
2.56% straight line |
The Retail Data Partnership Limited
Notes to the Financial Statements for the Year Ended 31 March 2021
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.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
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.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
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.
The Retail Data Partnership Limited
Notes to the Financial Statements for the Year Ended 31 March 2021
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Land & buildings |
Furniture, fittings & equipment |
Motor vehicles |
Other property, plant and equipment |
Total |
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Cost or valuation |
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At 1 April 2020 |
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Additions |
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At 31 March 2021 |
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Depreciation |
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At 1 April 2020 |
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Charge for the year |
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At 31 March 2021 |
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Carrying amount |
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At 31 March 2021 |
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At 31 March 2020 |
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Included within the net book value of land and buildings above is £1,277,001 (2020 - £1,290,971) in respect of freehold land and buildings.
Stocks |
2021 |
2020 |
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Other inventories |
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118,420 |
The Retail Data Partnership Limited
Notes to the Financial Statements for the Year Ended 31 March 2021
Debtors |
2021 |
2020 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2021 |
2020 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2021 |
2020 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
2021 |
2020 |
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Non-current loans and borrowings |
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Bank borrowings |
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Related party transactions |
Summary of transactions with associates