FOR THE YEAR ENDED 31 MAY 2024
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THE ENVIRONMENTAL DIMENSION PARTNERSHIP LIMITED
COMPANY INFORMATION
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THE ENVIRONMENTAL DIMENSION PARTNERSHIP LIMITED
CONTENTS
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THE ENVIRONMENTAL DIMENSION PARTNERSHIP LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MAY 2024
The Environmental Dimension Partnership Ltd (EDP) continues to deliver coordinated, commercially aware and cost-effective environmental planning and design solutions to our UK planning and land management clients. We pride ourselves on our multi-disciplinary knowledge and approach as well as being experts in our individual disciplines. We take a broad view, as well as a detailed one – coordinating findings and working together to design solutions that respond to all aspects of the site and wider environment.
Our very high level of repeat business demonstrates the strong relationships we have built with our clients to become trusted advisors providing reliable advice to deliver their project aims. EDP’s core areas of operation are Arboriculture, Archaeology & Heritage, Ecology & Biodiversity, Landscape Planning & Design and Masterplanning & Urban Design. We also have very capable and dedicated Project and Business Support teams who play a vital role in the day-to-day operations of EDP. Our purpose is to deliver positive change for people and the planet. We understand the multi-dimensional value of land and put successful outcomes at the heart of everything we do. We go the extra mile – for our clients and each other, for the environment, and for the communities we affect. Our team succeeds because of synergy – we are better together. This is the EDP Way: working effectively, working together and delivering optimum value for all. Our purpose gives rise to our values which first and foremost mean that we aim to be a fair and caring employer. We recognise that we’re responsible for our team – for their livelihoods, their safety, their career development and their wellbeing. Our values: We are team first. We’re a community, caring, collaborative and better together. We become our client’s team, adopting their goals and succeeding together. We change the world. We’re passionate about improving development and our business to make a positive difference. We bring success. Our strength lies in our collective expertise and we relish the challenge to resolve the tension between development and the environment to deliver better value for all. We make memories. We love what we do, our passion and the people we work with create a memorable career. The happier we are, the better we are.
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THE ENVIRONMENTAL DIMENSION PARTNERSHIP LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
Despite the ‘mini-recession’, EDP has had another strong year with turnover growth of over 5%. Our principal market remains in housebuilding, however we have also seen growth in the energy sector (renewables and grid connections) as well as commercial and private clients.
As inflationary pressures began to ease towards the end of the financial year, we were already seeing an uplift in quoting and instructions from clients. We expect this to continue as the economy moves into positive territory and market confidence returns. The change of government is also increasing the focus on development as a means of driving the economy. Whilst the implications of the new government on planning is still unknown, we expect that the demand for our services will remain strong. Operational Review We continue to place significant importance on maintaining and building client relationships to be their trusted expert and add value to their projects. We will continue to work closely with them to ensure that they receive the most pragmatic and commercially aware planning advice. Financial Review Revenue grew by 5.3% for the year-ending 31 May 2024. Residential-led projects continue to account for approximately two thirds of our business, but we have also seen a resurgence in renewable energy projects which now account for 12% of our revenue (having been practically zero just 5 years ago). The ‘mini-recession’ saw a temporary reduction in confidence from some of our clients. This coincided (and was related to) a small reduction in efficiency during the same period affecting our gross margin (although this did vary between and within different teams). Workloads and efficiencies were already increasing towards the end of the year and we expect this to continue into 2024/25. Overheads continue to be well controlled. Nearly half of these costs are employee-related (support team salaries, pensions, healthcare etc.) and the remainder is relatively fixed (e.g. rents / rates / insurances etc.). With our move to a more flexible way of working, all of our offices have now been down-sized which will yield further overhead savings in the coming year. EDP continues to be proudly owner-managed and has zero external debt. We continue to have a strong balance sheet and ensure ample cash is retained in the business to support ongoing operations and investment.
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THE ENVIRONMENTAL DIMENSION PARTNERSHIP LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
EDP’s strategy is subject to a number of risks and uncertainties. These are largely monitored and managed by the Management Board with the assistance of the KSIs as set out above.
Like most businesses, EDP is subject to the trends of the wider economy and specifically the development sector. This sector has the potential to be more volatile than other areas of the economy and has recently been affected by inflation and high interest rates (mortgage rates). Inflation is now around expected levels and interest rates are starting to reduce. This is bringing stability to the sector which is coming through in an increase in fee requests from our clients. The change of government in July 2024 has introduced a degree of uncertainty to the planning system (for example references to developing the ‘grey belt’), but has also improved optimism amongst clients creating opportunities to push forward projects that had otherwise been stalled or on the back-burner in the run up to the General Election. The new administration is promoting development as one of the growth drivers of the economy and EDP is adept at keeping up with changes in the planning system and advising clients how and when to act accordingly. With an expected uptick in work, EDP will need to ensure that we continue to attract and retain the best employees. We’ll continue to offer an attractive salary and benefits package, invest in training and seek engagement and feedback from the team. We have also identified strategic projects which will ensure that we are well placed to maintain our position as one of the best employers in our sector. Financial risk is mitigated by having no external debt and maintaining a long term cash flow forecast. Workloads are also reviewed at each monthly Management Board meeting to ensure that the pipeline of work is maintained.
EDP’s Management Board prepares 12 financial and non-financial Key Performance Indicators (although we refer to them as Key Success Indicators, KSIs). The KSIs map into 8 business areas which are monitored on a traffic light basis. It is the responsibility of the KSI owner to report on any ‘amber’ or ‘red’ KSIs and provide a plan to the Management Board for their resolution. The Chair of the Management Board reports on any exceptions to the KSIs to the Strategy Board at each meeting (approximately quarterly).
The 8 business areas monitored are as follows: Team - Capability Team - Engagement Financial - Managed Growth Financial - Profitable Growth Client - Loyalty Client - Satisfaction IT Quality and Health & Safety (compliance)
This report was approved by the board on 17 October 2024 and signed on its behalf.
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THE ENVIRONMENTAL DIMENSION PARTNERSHIP LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MAY 2024
The directors present their report and the financial statements for the year ended 31 May 2024.
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company 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 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £382,795 (2023: £1,489,723).
Dividends of £261,531 (2023: £1,283,029) were declared and paid in the year. All dividends were paid to directors of the company.
The directors who served during the year were:
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THE ENVIRONMENTAL DIMENSION PARTNERSHIP LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
One of EDP’s strategic objectives focuses on our journey to net zero and thus to reduce our emissions by 90% by 2040. We have already made great progress on this journey by working with our landlords to ensure our offices are on renewable energy tariffs, promoting and incentivising car sharing, improving our recycling, ensuring our product choices are more sustainable and introducing an electric vehicle (EV) car scheme. We also continue to offset the carbon produced not only by the company, but also by the whole team.
We have also continued with our volunteering efforts by having another beach clean day at Berrow Beach near Burnham on Sea.
Our team are the lifeblood of the business. We want our team members to love their time at EDP, to grow as professionals and find that perfect balance between their lives and their careers. We want them to be their best, to do their best, and to make wonderful memories during their time with us.
We champion community by operating in a way that’s always Team First… whether we’re collaborating to solve complex challenges or cementing our working relationships on one of our great team building events. Our fully flexible approach to working as well as competitive salaries and exceptional range of benefits ensures that we have very low employee turnover. The EDP Management Team work very hard to encourage feedback from the team (good and bad). We have a monthly ‘pulse’ survey which provides a snapshot of how the team are feeling and allows for anonymous feedback . Our 2024 annual employee engagement survey provided a more in depth review including more detailed feedback. This demonstrated that 100% of the team who completed the survey said that they were proud to work for EDP. We place a lot of importance on training the team including our ‘EDP Knowhow’ programme which focuses on developing the expertise of the team to become better all-round consultants.
There are a number of matters which have been covered in the strategic report including the company overview, market overview, key performance indicators and principal risks and uncertainties.
There have been no significant events affecting the Company since the year end.
The auditors, Bishop Fleming LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
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THE ENVIRONMENTAL DIMENSION PARTNERSHIP LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
This report was approved by the board and signed on its behalf.
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THE ENVIRONMENTAL DIMENSION PARTNERSHIP LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE ENVIRONMENTAL DIMENSION PARTNERSHIP LIMITED
We have audited the financial statements of The Environmental Dimension Partnership Limited (the 'Company') for the year ended 31 May 2024, which comprise the Income Statement, the Statement of Financial Position, the Statement of Cash Flows, the 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company 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 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.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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.
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THE ENVIRONMENTAL DIMENSION PARTNERSHIP LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE ENVIRONMENTAL DIMENSION PARTNERSHIP LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the 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 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 Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
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THE ENVIRONMENTAL DIMENSION PARTNERSHIP LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE ENVIRONMENTAL DIMENSION PARTNERSHIP 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 Auditors' 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 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:
∙considering the nature of the entity and its environment, internal control environment, and business performance.
∙considering the results of our enquiries of management about their own identification and assessment of the risk of irregularities.
∙obtaining and reviewing, for any matters identified, the Company’s documentation of their policies and procedures relating to:
°the identification, evaluation, and compliance with laws and regulations, and whether management were aware of any instances of non-compliance within the year
°the detection and response to the risk of fraud, and whether management have knowledge of actual, suspected, or alleged fraud; and
°the internal controls established to mitigate the risks of fraud or non-compliance with laws and regulations.
∙discussing amongst the audit engagement team, including internal tax specialists, regarding how and where fraud might occur in the financial statements and potential indicators of fraud.
As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the completeness of revenue recognition and management override of controls. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to these identified risks. We have obtained an understanding of the legal and regulatory frameworks that the Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and tax legislation. We considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Company’s ability to operate or to avoid a material penalty. These included data protection regulations, health and safety regulations, and employment legislation.
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THE ENVIRONMENTAL DIMENSION PARTNERSHIP LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE ENVIRONMENTAL DIMENSION PARTNERSHIP LIMITED (CONTINUED)
Audit response to risks identified
Our procedures to respond to risks identified included the following:
∙reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements.
∙enquiring of management concerning actual and potential litigation claims.
∙performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement or fraud.
∙reading minutes of board meetings throughout the year.
∙in addressing the risk of fraud through management override of controls:
°testing the appropriateness of journal entries and other adjustments.
°assessing whether the judgments made in making accounting estimates are indicative of a potential bias.
°evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
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 Auditors' Report.
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THE ENVIRONMENTAL DIMENSION PARTNERSHIP LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE ENVIRONMENTAL DIMENSION PARTNERSHIP LIMITED (CONTINUED)
The comparative figures within these financial statements have not been audited, as the company took advantage of the exemptio under s477 of the Companies Act 2006.
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 Auditors' 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
Chartered Accountants
Statutory Auditors
10 North Place
GL50 4DW
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THE ENVIRONMENTAL DIMENSION PARTNERSHIP LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MAY 2024
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THE ENVIRONMENTAL DIMENSION PARTNERSHIP LIMITED
REGISTERED NUMBER:09102431
STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 18 to 28 form part of these financial statements.
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THE ENVIRONMENTAL DIMENSION PARTNERSHIP LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2024
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THE ENVIRONMENTAL DIMENSION PARTNERSHIP LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2023
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THE ENVIRONMENTAL DIMENSION PARTNERSHIP LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MAY 2024
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THE ENVIRONMENTAL DIMENSION PARTNERSHIP LIMITED
ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 MAY 2024
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THE ENVIRONMENTAL DIMENSION PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
The Environmental Dimension Partnership Limited is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The registered office is Quarry Barn, Elkstone Studios, Elkstone, GL53 9PQ, England, United Kingdom.
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 management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The directors have reviewed budgets and forecasts for a period of 12 months from approval of the financial statements, considering this and the profits generated by the company, as well as adequate resources, the directors are confident they are able to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
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THE ENVIRONMENTAL DIMENSION PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
2.Accounting policies (continued)
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THE ENVIRONMENTAL DIMENSION PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
2.Accounting policies (continued)
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.
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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THE ENVIRONMENTAL DIMENSION PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
2.Accounting policies (continued)
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period of the revision and future periods if the revision affects both current and future periods. The following are the critical judgments and key sources of estimation uncertainty that the directors have made in the process of applying the company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements. Valuation of work In progress Management have made judgements and assumptions when assessing the carrying value of work in progress. At each balance sheet date, work in progress is reviewed for recoverability. If work in progress is unlikely to be recovered, the carrying value is reduced. The provision is based upon the probability of recoverability using management's knowledge and experience with the customer, the individual project and through analysing recoveries on similar projects.
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THE ENVIRONMENTAL DIMENSION PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
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THE ENVIRONMENTAL DIMENSION PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
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THE ENVIRONMENTAL DIMENSION PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
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THE ENVIRONMENTAL DIMENSION PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
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THE ENVIRONMENTAL DIMENSION PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
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THE ENVIRONMENTAL DIMENSION PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
Share based payments
If the options remain unexercised after a specified period from the date of grant, the options expire. Options are forfeited if the employee leaves the company before the options vest. No options were exercised during the year.
Profit and loss account
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £582,511 (2023: £629,686). Contributions totaling £
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THE ENVIRONMENTAL DIMENSION PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
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