Registered number:
FOR THE YEAR ENDED 30 SEPTEMBER 2023
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T D C (ABERDEEN) LIMITED
COMPANY INFORMATION
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T D C (ABERDEEN) LIMITED
CONTENTS
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T D C (ABERDEEN) LIMITED
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
The group supplies a comprehensive range of vital services and products to the international oil and gas, power generation, utilities, renewable's, marine, defence and manufacturing markets. These include low voltage and high voltage electric motor and generator repairs, high voltage electric motor and generator manufacturing, electrical inspection, repair and maintenance services, mechanical engineering services, control panel manufacturing, and condition monitoring services, with particular specialism in the inspection and repair of ‘Ex’ certified equipment.
Despite the backdrop of various macro environmental factors presenting risk to all businesses both in the UK and overseas during the financial year, including the ongoing Russo-Ukrainian war, high inflation, and continuing post pandemic supply chain disruptions, it is extremely pleasing to be able to report that the group achieved substantial growth. Turnover for the group increased by 43% to £33.2m and profit before tax increased by 69%.
The group attained this high growth trajectory by mitigating risks in the macro environment through supplying a wide range of equipment and services to a variety of market sectors. The group also enjoys the combined benefits of having a high voltage motor and generator OEM within its company portfolio, and comprehensive electro-mechanical service capabilities. The group holds the well-established Parsons Peebles brand and retains the intellectual property for the archived designs of a large installed base of equipment across the globe, dating back to the middle of the last century. This generates substantial aftermarket revenues and provides prospects for orders for the manufacture of new drop-in replacement machines. There are several other factors which assist with the group’s operational resilience. These include a highly skilled and flexible workforce which can be deployed across the group, and a wide global supply base, to limit reliance on individual vendors. Business activity levels continued the increasing trend seen in the previous financial year. The group’s strategy of related diversification, and expansion of its manufacturing and services portfolio, has been instrumental in the group continuing to expand market share within the oil and gas sector. It is expected that the UK North Sea industry will see a shift in focus from hydrocarbon energy to cleaner energy, and the group is reacting by not only concentrating on securing additional contracts within the renewable energy sector, but by also continuing to provide high quality services and products to customers in the oil and gas industry as they themselves transition into renewables. The group has also seen continued expansion in other markets, such as defence and nuclear power generation, following the award of several high value contracts during the financial year, from domestic and international customers. The group also has an established customer base within the utilities industry and is continuing to focus on increasing business levels in this sector. Moving into financial year ending 2024, the group carried forward a strong order book for the manufacture and overhaul of electro-mechanical rotational equipment and electrical protection and control cubicles. The group has subsequently been successful in securing several additional high value contracts within the UK and internationally, with further contract awards still pending.
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T D C (ABERDEEN) LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
The group's operations expose it to a variety of financial risks that include competitive risk, market risk, credit risk and liquidity risk. The policies and management processes seek to mitigate any adverse effects of these on the financial performance of the group. The key business risks and uncertainties affecting the group are set below.
Competitive risk The group faces competition for both contracts and resources. With a broad range of services, the group offers a variety of options to customers ranging from a single service through to fully integrated services. Focus is on project execution to deliver on time and budget. The board regularly monitor the market and its competitors in order to identify opportunities. Market risk The group is continuing to target customers out with the oil and gas industry to reduce exposure to volatility in the market. As a result, the group now operates in a number of UK and global markets, such as renewable's, marine, defence, nuclear power, and electrical and water utilities. The group has a small share of the market in most cases, and therefore, should not be restricted for future growth potential. Credit risk The group's principal financial assets are bank balances and cash, trade and other receivables. Credit risk is primarily attributable to its trade and other receivables and is managed through maintaining good customer relationships and the monitoring of credit levels and settlement periods. The amounts presented in the balance sheet are net of allowances for doubtful receivables. In addition, the group monitors the financial health of customers and sets credit terms and limits appropriate to the customers' financial strength. Liquidity risk In order to maintain liquidity and to ensure sufficient funds are available for ongoing and future developments, the group monitor the timing of cash flows and aligns this with its strategic planning. The group's primary source of finance is the operating cash flows it generates and through equity. Financial key performance indicators The group's key financial performance indicators during the period were as follows: The results show that the group’s turnover increased from £23.3m in year ending 2023 to £33.2m in the financial year ending September 2023. This increase continued the trend seen in the previous financial year, as markets bounced back following the impact of the Coronavirus pandemic.
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T D C (ABERDEEN) LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
EBITDA increased by 52% compared to the previous financial year. This has been achieved despite cost pressures caused by high energy costs, inflationary increases and higher interest rates. These have been mitigated through making operational efficiencies and cost control achieved by measures such as centralising support functions, whilst maintaining delivery of high-quality customer services.
The average number of employees during the year has increased by 18% to 228, and job vacancies within the group are at higher-than-normal levels. Like many businesses in the engineering sector, the group faces the challenge of recruiting suitably qualified engineers. To mitigate this risk, the group increased its level of apprentice intake during the year to invest in the future. The group also understands that its people are its greatest asset and are the key to long term success, and it continued to make significant investment in staff training programmes throughout the year. The group also aims to provide fair and competitive remuneration to employees, and it enhanced its standard employment packages during the year, to maximise retention and to attract suitable staff resources.
The group continues to identify opportunities with existing and new clients to increase its market share and remove reliance on the oil and gas industry. Since the year end, the group has been successful in being awarded large contracts across a varied range of sectors, both in the UK and internationally, with further contract awards still pending. This has been achieved through the group’s strategy of expansion through related diversification, and in particular, the addition of high voltage electric motor and generator manufacturing and repair capabilities to the service portfolio. This has increased the group’s competitiveness in the electro-mechanical rotating equipment field and provides opportunities for expanding the geographic offering of existing services.
The directors’ primary concern continues to be the safety and well-being of all employees, and the group is committed to maintaining robust, effective health and safety management systems. T D C Parsons Peebles achieved ISO 45001:2018 accreditation in early 2024; a certification which was already held by T D C (Aberdeen). The group shall focus on achieving this accreditation for the remainder of the companies in the group.
This report was approved by the board and signed on its behalf.
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T D C (ABERDEEN) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
The directors present their report and the financial statements for the year ended 30 September 2023.
The profit for the year, after taxation, amounted to £1,716,810 (2022 - £1,174,695).
During the year there were no dividends paid (2022 - £30,000).
The directors who served during the year were:
The group has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the group's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of future developments.
There have been no significant events affecting the group since the year end.
Under section 487(2) of the Companies Act 2006, Anderson Anderson & Brown Audit LLP will be deemed to have been reappointed as auditor.
This report was approved by the board and signed on its behalf.
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T D C (ABERDEEN) LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the group's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent; and
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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T D C (ABERDEEN) LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF T D C (ABERDEEN) LIMITED
We have audited the financial statements of T D C (Aberdeen) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 September 2023, which comprise the group Statement of comprehensive income, the group and company Balance sheets, the group Statement of cash flows, the group and company Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's or the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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T D C (ABERDEEN) LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF T D C (ABERDEEN) LIMITED (CONTINUED)
The other information comprises the information included in the annual report other than the financial statements and our Auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' report.
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T D C (ABERDEEN) LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF T D C (ABERDEEN) LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We obtained an understanding of the legal and regulatory frameworks within which the parent company and group operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, Health & Safety, Employment and Taxation legislation.
We identified the greatest risk of material impact on the financial statements from irregularities including fraud to be:
∙Management override of controls to manipulate the group’s key performance indicators to meet targets;
∙Timing and completeness of revenue recognition;
∙Management judgement applied in calculating provisions; and
∙Compliance with relevant laws and regulations which directly impact the financial statements and those that the company needs to comply with for the purpose of trading.
Our audit procedures to respond to these risks included:
∙Testing of journal entries and other adjustments for appropriateness;
∙Evaluating the business rationale of significant transactions outside the normal course of business;
∙Reviewing judgements made by management in their calculation of accounting estimates for potential management bias, including estimates with regard to revenue recognition;
∙Enquiries of management about litigation and claims and inspection of relevant correspondence;
∙Reviewing legal and professional fees to identify indications of actual or potential litigation, claims and any non-compliance with laws and regulations; and
∙Performing a disclosure checklist on the financial statements to ensure Companies Act 2006 requirements are satisfied.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report.
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T D C (ABERDEEN) LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF T D C (ABERDEEN) LIMITED (CONTINUED)
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Statutory Auditor
Kingshill View
Prime Four Business Park
Kingswells
AB15 8PU
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T D C (ABERDEEN) LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2023
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T D C (ABERDEEN) LIMITED
REGISTERED NUMBER: SC181456
CONSOLIDATED BALANCE SHEET
AS AT 30 SEPTEMBER 2023
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T D C (ABERDEEN) LIMITED
REGISTERED NUMBER: SC181456
CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 20 to 40 form part of these financial statements.
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T D C (ABERDEEN) LIMITED
REGISTERED NUMBER: SC181456
COMPANY BALANCE SHEET
AS AT 30 SEPTEMBER 2023
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T D C (ABERDEEN) LIMITED
REGISTERED NUMBER: SC181456
COMPANY BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 20 to 40 form part of these financial statements.
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T D C (ABERDEEN) LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2023
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T D C (ABERDEEN) LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2023
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T D C (ABERDEEN) LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
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T D C (ABERDEEN) LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
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T D C (ABERDEEN) LIMITED
CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
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T D C (ABERDEEN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
T D C (Aberdeen) Limited (the `parent company`) is a private limited company domiciled and incorporated in Scotland. The registered office is 37 Albyn Place, Aberdeen, AB10 1YN.
The parent company's principal place of business is Bankhead Industrial Estate, Bankhead Avenue, Bucksburn, Aberdeen, AB21 9ET. The nature of the group and parent company's operations and its principal activities are set out within the Strategic Report. The group consists of T D C (Aberdeen) Limited and all of its subsidiaries.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires group management to exercise judgement in applying the group's accounting policies (see note 3).
The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.
The consolidated financial statements present the results of the parent company and its own subsidiaries (the `group`) as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.
Based on operating forecasts prepared, the directors are satisfied that the group and parent company have adequate financial resources to continue to operate and meet its liabilities as they fall due for at least 12 months from the date of approving the financial statements. Thus the directors continue to adopt the going concern basis forpreparation of the financial statements.
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T D C (ABERDEEN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
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T D C (ABERDEEN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
2.Accounting policies (continued)
Grants of a revenue nature are recognised in the Consolidated statement of comprehensive income in the same period as the related expenditure.
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T D C (ABERDEEN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
2.Accounting policies (continued)
Goodwill
Other intangible assets
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
The estimated useful lives range as follows:
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T D C (ABERDEEN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
2.Accounting policies (continued)
At each reporting date the group assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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T D C (ABERDEEN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the group's Balance sheet when the group becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The group's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
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T D C (ABERDEEN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
2.Accounting policies (continued)
Impairment of financial assets
Financial assets are assessed for indicators of impairment at each reporting date.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the group after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other payables, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the group transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the group will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.
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T D C (ABERDEEN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Critical judgements The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements. Amounts recoverable on contracts Management make judgements about the progress of jobs and recognise costs and revenue proportionally on that basis. This affects the valuation of amounts recoverable on contracts which was carried at £4,099,854 (2022 - £2,690,616). Depreciation of fixed assets The amount of depreciation charged is based on management’s assessment of the useful economic lives and estimated residual values of the related fixed assets. On the basis that the estimated residual value of leasehold properties is at least equal to their carrying value, no depreciation has been charged in these accounts. Carrying value of stocks Management review the carrying value of stocks at the period end and assess whether there has been any impairment due to obsolescence. Management’s judgements around this would impact the valuation of stocks.
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T D C (ABERDEEN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Analysis of turnover by country of destination:
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T D C (ABERDEEN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Page 29
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T D C (ABERDEEN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Page 30
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T D C (ABERDEEN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
12.Taxation (continued)
There were no factors that may affect future tax charges.
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T D C (ABERDEEN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Page 32
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T D C (ABERDEEN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Page 33
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T D C (ABERDEEN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
15.Tangible fixed assets (continued)
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T D C (ABERDEEN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Page 35
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T D C (ABERDEEN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Page 36
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T D C (ABERDEEN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Page 37
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T D C (ABERDEEN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Page 38
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T D C (ABERDEEN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Share premium account
Capital redemption reserve
Other reserves
Profit and loss account
The group's contributions to defined contribution pension schemes in the year were £656,108 (2022 - £516,135). Outstanding contributions accrued at the year end amounted to £70,797 (2022 - £60,135).
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T D C (ABERDEEN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
The group was under the control of director Neil Milne throughout the current and previous year.
Page 40
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