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Registered number: 08375114









TOTAL CONTROL GROUP LIMITED









ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
TOTAL CONTROL GROUP LIMITED
 
 
COMPANY INFORMATION


Directors
A D J Bowshell 
P C Church 
C C J Fry 
M R Logan 
M C Millins 




Registered number
08375114



Registered office
Prospect House`
North Farm Road

Tunbridge Wells

Kent

TN2 3DN




Independent auditors
Creasey Son & Wickenden
Chartered accountants & Registered auditor

Hearts of Oak House

Pembroke Road

Sevenoaks

Kent

TN13 1XR





 
TOTAL CONTROL GROUP LIMITED
 

CONTENTS



Page
Group strategic report
 
1 - 3
Directors' report
 
4 - 5
Independent auditors' report
 
6 - 9
Consolidated statement of comprehensive income
 
10
Consolidated balance sheet
 
11
Company balance sheet
 
12
Consolidated statement of changes in equity
 
13
Company statement of changes in equity
 
14
Consolidated statement of cash flows
 
15 - 16
Consolidated analysis of net debt
 
17
Notes to the financial statements
 
18 - 35


 
TOTAL CONTROL GROUP LIMITED
 
 
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

Introduction
 
The directors present their strategic report for the year.  The group comprises this company, Total Control Group Ltd which is a holding company that does not trade, Total Control Services Limited which is active, and three other dormant subsidiary companies.

Business review
 
The business of Total Control Services Limited has continued to be the design, installation and deployment of advanced building management systems in commercial, residential and industrial buildings to ensure that buildings work correctly and with optimal energy efficiencies.
In recent years, Total Control Services Limited has invested significantly in research and development in order to optimise technologies to deliver efficient building management systems. As a result of Total Control Services Limited expertise in these technologies, it has increasingly promoted itself as the Master Systems Integrator (MSI) for a number of projects.
Total Control Services Limited has continued to operate its business through two main divisions: Projects and Client Services:-
Projects typically deal with the one-off activity of designing and implementing the initial depolyment of a building management system.
Client Services typically provide the ongoing services to optimise building and energy efficiencies.

Through innovative technologies, there have been, and are likely to continue to be, significant advances in how the "built environment" is controlled and managed and the Company remains well placed to grow within this increasingly sophisticated environment. As this market has developed, the Company's Client Services division, which generates recurring revenues, has grown. The Company expects that division to continue to grow over the course of the next few years as it has grown in the last two to three years. The Company continues to prioritise that sector as ever "smarter" solutions are deployed in a building's operational management systems. 

A challenging operational environment is still evident. Labour supply shortages and high wage inflation persist, and look set to continue. Corporate insolvencies and consequential bad debts remain historically high and the directors continue to focus on risk mitigation at all contract stages from acceptance to completion.

In the year under review, Client Services revenues increased by 12% whilst revenue from pure new build or refurbished buildings work undertaken by the Projects division remained the same. The Client Services increase is seen as highly encouraging in light of the difficulties and challenges caused by the external pressures outlined above.

During the year under review the South West & Wales Regional Office continued to grow its revenues, reaching its target for the year. The directors see this as vindication of its decision to invest in this area and remain focused on the region growing revenue further and maintaining margins. To this end, following the year under review, an additional member of staff has been recruited to take on Project and Client Services delivery tasks and enable the region’s manager to focus a greater proportion of their time on client base & revenue growth. The expansion of the network into other geographical areas and the ultimate goal of offering national coverage in the fullness of time remains under constant review.

Page 1

 
TOTAL CONTROL GROUP LIMITED
 

GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024

Principal risks and uncertainties
 
The main risks and uncertainties continue to be:

The potential for any significant downturn in the economy having an impact on the construction sector. These risks are more relevant to the Projects Division than Client Services. Client Services are less prone to such risks because in any economic environment owners and occupiers of buildings remain keen to optimise the operational efficiencies and the carbon footprint of a building. The directors manage these risks by continually reviewing the order pipeline which typically runs to more than 12 months and then managing its resources accordingly.
The financial risk of undertaking project-based work within the construction sector. There are two main aspects to this risk: project profitability; and the potential for a bad debt risk. In relation to project profitability, the directors continue to monitor and revise contract take-on procedures to eliminate risk and uncertainty around certain types of contractual arrangements. In relation to bad debt risk, the Company manages this by a combination of contractual terms and strong credit control procedures with credit insurances if appropriate.
The availability of suitably skilled employees. As with any fast-growing technology sector, there is a growing risk that the supply of skilled people will fall behind the growing demand for those people. The company has recognised this risk for some years and has managed it by ensuring that the workplace continues to be a reward-orientated and friendly environment for technical staff to develop their skill sets and advance their careers and by enlarging its apprenticeship programme.
 
Financial key performance indicators
 
Total Control Services Limited uses several monthly, quarterly and annual KPIs, as set out in the table below, which are continuously updated and reported to directors and managers at regular board and management meetings.
PERMANENT STAFF   @ 30/09/2024 @ 30/09/2023 Change @ 30/09/2022
Projects     53   55   -4%  51
Client Services    29   25   +16%  26
Regional Office - S/W & Wales  1   1   -  1
Sales/Admin     14   15   -7%  17
      97   99   +1%  95
    
TURNOVER SPLIT   2024   2023   Change 2022
Projects Turnover    £11,121k  £11,270k  -1%  £9,895k
Client Services Turnover   £3,344k  £2,992k  +12%  £2,436k
Regional Office - S/W & Wales  £747k   £372k   +101% £300k
    
PROJECTS WORKLOAD   @ 30/09/2024 @ 30/09/2023 Change @ 30/09/2022
Projects Workload    £6,389k  £10,048k  -36%  £8,774k
    
CLIENT SERVICES PPM CONTRACTS
     @ 30/09/2024 @30/0/2023  Change @ 30/09/2022
1-Year PPM Contracts  £1,290k  £1,199k  +8%  £988k
1 Year & Multi-Year PPM Contracts£1,620k  £1,686k  -4%  £1,713k
PPM: Plnned Preventative Maintenance

CLIENT SERVICES BREAKDOWN2024   2023   Change 2022
PPM Contracts   £1,273k  £1,089k  +17%  £1,043k
PPM Callouts (Additional Works)£114k   £129k   -12%  £90k
CLS Projects & Extra Works £1,957k  £1,773k  +10%  £1,304k
Additional Works Multiple  X 1.6   X 1.7     X 1.3
Page 2

 
TOTAL CONTROL GROUP LIMITED
 

GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024


This report was approved by the board on 10 June 2025 and signed on its behalf.



M C Millins
Director

Page 3

 
TOTAL CONTROL GROUP LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

The directors present their report and the financial statements for the year ended 30 September 2024.

Directors' responsibilities statement

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 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 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 2006They 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.

Results and dividends

The profit for the year, after taxation, amounted to £1,307,882 (2023 - £795,108).

No interim dividends were paid during the year. A final dividend is not proposed.

Directors

The directors who served during the year were:

A D J Bowshell 
P C Church 
C C J Fry 
M R Logan 
M C Millins 

Matters covered in the Group strategic report

The business review, principal risks and uncertainties are dealt with in the strategic report rather than in the directors report.

Page 4

 
TOTAL CONTROL GROUP LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company and the Group's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditors are aware of that information.

Auditors

The auditorsCreasey Son & Wickendenwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 10 June 2025 and signed on its behalf.
 





M C Millins
Director

Page 5

 
TOTAL CONTROL GROUP LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TOTAL CONTROL GROUP LIMITED
 

Opinion


We have audited the financial statements of Total Control Group Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 30 September 2024, which comprise the Consolidated statement of comprehensive income, the Consolidated balance sheet, the Company balance sheet, the Consolidated statement of cash flows, the Consolidated statement of changes in equity, the Company statement of changes in equity and the related notes, including a summary of significant accounting policiesThe 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).


In our opinion the financial statements:


give a true and fair view of the state of the Group's and of the parent Company's affairs as at 30 September 2024 and of the Group's profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


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 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.


Conclusions relating to going concern


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.


Page 6

 
TOTAL CONTROL GROUP LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TOTAL CONTROL GROUP LIMITED (CONTINUED)


Other information


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 ReportOur 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.


Opinion on other matters prescribed by the Companies Act 2006
 

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.


Matters on which we are required to report by exception
 

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.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept by the parent Company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent Company financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Page 7

 
TOTAL CONTROL GROUP LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TOTAL CONTROL GROUP LIMITED (CONTINUED)


Responsibilities of directors
 

As explained more fully in the Directors' responsibilities statement set out on page 4, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Group's and the parent Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or the parent Company or to cease operations, or have no realistic alternative but to do so.


Auditors' responsibilities for the audit of the financial statements
 

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 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:

Irregularities are instances of non-compliance with laws and regulations.  The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit.
In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit.
However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity’s operations are conducted in accordance with the provisions of laws and regulation and for the prevention and detection of fraud.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the company audit team:

obtain an understanding of the nature of the industry and sector, including the legal and regulatory framework that the company operates in and how the company is complying with the legal and regulatory framework;
inquired of management, and those charged with governance, about their identification and assessment of the risks or irregularities, including any known, actual, suspected or alleged instances of fraud;
discussed matters about non-compliance with laws and regulations and how fraud might occur including assessing how and where the financial statements may be susceptible to fraud.
Page 8

 
TOTAL CONTROL GROUP LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TOTAL CONTROL GROUP LIMITED (CONTINUED)



As a result of these procedures, we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, the Company Act 2006 and tax compliance regulations. We performed audit procedures to detect non-compliance's which may have a material impact on the financial statements which included reviewing financial statement disclosures and completion of relevant checklists, inspecting correspondence with national and local tax authorities where relevant, evaluating any tax advice received.

The most significant laws and regulations that have an indirect impact on the financial statements are those in relation to health and safety. We performed audit procedures to inquire of management and those charged with governance whether the company is compliant with these laws and regulations, reviewed minutes of relevant meetings and completed searches for any reportable incidents in the public domain.

The company audit engagement team identified the risk of management override of controls as the area where financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included but were not limited to testing journal entries and other adjustments and evaluating the business rationale in respect of any significant or unusual transactions and any transactions entered into outside of the normal course of business.


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.


Use of our report
 

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 2006Our 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.





M K Lunt (Senior statutory auditor)
  
for and on behalf of
Creasey Son & Wickenden
 
Chartered accountants
Registered auditor
  
Hearts of Oak House
Pembroke Road
Sevenoaks
Kent
TN13 1XR

18 June 2025
Page 9

 
TOTAL CONTROL GROUP LIMITED
 
 
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2024
2023
Note
£
£

  

Turnover
 4 
15,212,443
14,633,543

Cost of sales
  
(10,466,684)
(10,308,389)

Gross profit
  
4,745,759
4,325,154

Administrative expenses
  
(2,898,430)
(3,399,187)

Operating profit
 5 
1,847,329
925,967

Interest receivable and similar income
 9 
24,034
12,296

Interest payable and similar expenses
 10 
(7,718)
(5,227)

Profit before taxation
  
1,863,645
933,036

Tax on profit
 11 
(555,763)
(137,928)

Profit for the financial year
  
1,307,882
795,108

Profit for the year attributable to:
  

Owners of the parent Company
  
1,307,882
795,108

  
1,307,882
795,108

Total comprehensive income for the year attributable to:
  

Owners of the parent Company
  
1,307,882
795,108

  
1,307,882
795,108

There were no recognised gains and losses for 2024 or 2023 other than those included in the consolidated statement of comprehensive income.

There was no other comprehensive income for 2024 (2023:£NIL).

The notes on pages 18 to 35 form part of these financial statements.

Page 10

 
TOTAL CONTROL GROUP LIMITED
REGISTERED NUMBER: 08375114

CONSOLIDATED BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 13 
44,197
50,975

  
44,197
50,975

Current assets
  

Stocks
 15 
617,992
741,296

Debtors: amounts falling due within one year
 16 
3,392,284
3,632,510

Cash at bank and in hand
 17 
1,851,342
758,913

  
5,861,618
5,132,719

Creditors: amounts falling due within one year
 18 
(2,720,230)
(2,338,905)

Net current assets
  
 
 
3,141,388
 
 
2,793,814

Total assets less current liabilities
  
3,185,585
2,844,789

Provisions for liabilities
  

Deferred taxation
 19 
(3,952)
(5,193)

  
 
 
(3,952)
 
 
(5,193)

Net assets
  
3,181,633
2,839,596


Capital and reserves
  

Called up share capital 
 20 
1,538
1,538

Share premium account
  
486,922
486,922

Other reserves
  
1,332
999

Profit and loss account
  
2,691,841
2,350,137

Equity attributable to owners of the parent Company
  
3,181,633
2,839,596


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 June 2025.


M C Millins
Director

The notes on pages 18 to 35 form part of these financial statements.

Page 11

 
TOTAL CONTROL GROUP LIMITED
REGISTERED NUMBER: 08375114

COMPANY BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 14 
84,148
83,815

  
84,148
83,815

Current assets
  

Debtors: amounts falling due within one year
 16 
405,596
405,596

Cash at bank and in hand
 17 
94
94

  
405,690
405,690

Creditors: amounts falling due within one year
 18 
(35)
(35)

Net current assets
  
 
 
405,655
 
 
405,655

Total assets less current liabilities
  
489,803
489,470

  

  

Net assets
  
489,803
489,470


Capital and reserves
  

Called up share capital 
 20 
1,538
1,538

Share premium account
  
486,922
486,922

Other reserves
  
1,332
999

Profit and loss account
  
11
11

  
489,803
489,470


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 June 2025.


M C Millins
Director

The notes on pages 18 to 35 form part of these financial statements.

Page 12

 
TOTAL CONTROL GROUP LIMITED
 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024


Called up share capital
Share premium account
Other reserves
Profit and loss account
Total equity

£
£
£
£
£


At 1 October 2022
1,538
486,922
612
2,471,980
2,961,052



Profit for the year
-
-
-
795,108
795,108

Share option reserve movement
-
-
387
-
387

Gifts to EOT
-
-
-
(916,951)
(916,951)



At 1 October 2023
1,538
486,922
999
2,350,137
2,839,596



Profit for the year
-
-
-
1,307,882
1,307,882

Share option reserve movement
-
-
333
-
333

Gifts to EOT
-
-
-
(966,178)
(966,178)


At 30 September 2024
1,538
486,922
1,332
2,691,841
3,181,633


The notes on pages 18 to 35 form part of these financial statements.

Page 13

 
TOTAL CONTROL GROUP LIMITED
 

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024


Called up share capital
Share premium account
Other reserves
Profit and loss account
Total equity

£
£
£
£
£


At 1 October 2022
1,538
486,922
612
11
489,083



Profit for the year
-
-
-
916,951
916,951

Share option reserve movement
-
-
387
-
387

Gifts to EOT
-
-
-
(916,951)
(916,951)



At 1 October 2023
1,538
486,922
999
11
489,470



Profit for the year
-
-
-
966,178
966,178

Share option reserve movement
-
-
333
-
333

Gifts to EOT
-
-
-
(966,178)
(966,178)


At 30 September 2024
1,538
486,922
1,332
11
489,803


The notes on pages 18 to 35 form part of these financial statements.

Page 14

 
TOTAL CONTROL GROUP LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2024
2023
£
£

Cash flows from operating activities

Profit for the financial year
1,307,882
795,108

Adjustments for:

Depreciation of tangible assets
33,312
36,287

Loss on disposal of tangible assets
(15,083)
(1,201)

Interest paid
7,718
5,227

Interest received
(24,034)
(12,296)

Taxation charge
555,763
137,927

Decrease in stocks
123,304
5,332

Decrease/(increase) in debtors
238,029
(378,921)

Increase in creditors
15,768
461,276

Corporation tax (paid)
(189,250)
(83,884)

Net cash generated from operating activities

2,053,409
964,855


Cash flows from investing activities

Purchase of tangible fixed assets
(26,534)
(41,319)

Sale of tangible fixed assets
15,083
1,226

Purchase of fixed asset investments
333
387

Interest received
24,034
12,296

Net cash from investing activities

12,916
(27,410)
Page 15

 
TOTAL CONTROL GROUP LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024


2024
2023

£
£



Cash flows from financing activities

Interest paid
(7,718)
(5,227)

Gifts to EOT
(966,178)
(916,951)

Net cash used in financing activities
(973,896)
(922,178)

Net increase in cash and cash equivalents
1,092,429
15,267

Cash and cash equivalents at beginning of year
758,913
743,646

Cash and cash equivalents at the end of year
1,851,342
758,913


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
1,851,342
758,913

1,851,342
758,913


The notes on pages 18 to 35 form part of these financial statements.

Page 16

 
TOTAL CONTROL GROUP LIMITED
 

CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 30 SEPTEMBER 2024




At 1 October 2023
Cash flows
At 30 September 2024
£

£

£

Cash at bank and in hand

758,913

1,092,429

1,851,342


758,913
1,092,429
1,851,342

The notes on pages 18 to 35 form part of these financial statements.

Page 17

 
TOTAL CONTROL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

The company is incorporated in England and Wales and is a company limited by shares. Its registered office is at Prospect House, North Farm Road, Tunbridge Wells, Kent TN2 3DN. The company is the holding company of a group, the principal activity of which is the design, installation and maintenance of control systems for the building services industry.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

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.

These financial statements are prepared and presented in pound Sterling. Values are rounded to the nearest £1.

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 judgment 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 following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the 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.
In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 01 April 2016.

Page 18

 
TOTAL CONTROL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Group has transferred the significant risks and rewards of ownership to the buyer;
the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Group will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Group will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

The stage of completion of a contract is assessed by the company, valued, then confirmed by the client.

 
2.4

Operating leases: the Group as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 19

 
TOTAL CONTROL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.5

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Group in independently administered funds.

Page 20

 
TOTAL CONTROL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.9

Share-based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.
The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Group keeping the scheme open or the employee maintaining any contributions required by the scheme).
Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.
Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.

 
2.10

Current and deferred taxation

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 21

 
TOTAL CONTROL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Land is not depreciated. Depreciation on other assets 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:

Freehold property
-
2%
on cost, buildings only
Plant and machinery
-
15%
on cost or 25% on cost
Motor vehicles
-
25%
on cost
Fixtures and fittings
-
15%
on cost
Office equipment
-
50%
on cost or 20% on cost

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.

 
2.12

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.13

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.14

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 22

 
TOTAL CONTROL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.15

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

 
2.16

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.17

Financial instruments

The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Group has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Group's Balance sheet when the Group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) 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 debtors due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less
Page 23

 
TOTAL CONTROL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.17
Financial instruments (continued)

impairment.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

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.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is 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 creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments 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 creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors 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.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis
Page 24

 
TOTAL CONTROL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.17
Financial instruments (continued)

as with a documented risk management or investment strategy.

Derecognition of financial instruments

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.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.
Assessing the stage of completion of contract work in progress and forecasting costs to completion requires judgments to be made so involves some estimation uncertainty.  The exercise is necessary in order that appropriate amounts of revenue and costs are recognised in the profit and loss account. 


4.


Turnover

The whole of the turnover is attributable to the company's principal activity.

All turnover arose within the United Kingdom.


5.


Operating profit

The operating profit is stated after charging:

2024
2023
£
£

Other operating lease rentals
341,337
335,992

Page 25

 
TOTAL CONTROL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


Auditors' remuneration

During the year, the Group obtained the following services from the Company's auditors:


2024
2023
£
£

Fees payable to the Company's auditors for the audit of the consolidated and parent Company's financial statements
18,500
17,500

Fees payable to the Company's auditors in respect of:

Taxation compliance services
2,000
1,800

All non-audit services not included above
3,000
-


7.


Employees

Staff costs, including directors' remuneration, were as follows:


Group
Group
2024
2023
£
£


Wages and salaries
4,748,387
4,911,567

Social security costs
532,885
537,076

Cost of defined contribution scheme
262,021
247,511

5,543,293
5,696,154


The average monthly number of employees, including the directors, during the year was as follows:



Group
Group
Company
Company
        2024
        2023
        2024
        2023
            No.
            No.
            No.
            No.









Staff
92
91
-
-



Directors
5
5
5
5



Additional director of subsidiary companies
1
1
-
-

98
97
5
5

Page 26

 
TOTAL CONTROL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
437,427
427,376

Group contributions to defined contribution pension schemes
41,622
37,146

479,049
464,522


During the year retirement benefits were accruing to 4 directors (2023 - 4) in respect of defined contribution pension schemes.

The highest paid director received remuneration of £109,557 (2023 - £107,654).

The value of the Group's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £10,811 (2023 - £10,247).


9.


Interest receivable

2024
2023
£
£


Other interest receivable
24,034
12,296


10.


Interest payable and similar expenses

2024
2023
£
£


Other loan interest payable
7,718
5,227

Page 27

 
TOTAL CONTROL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

11.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
468,566
159,604

Adjustments in respect of previous periods
88,438
(24,240)


557,004
135,364


Total current tax
557,004
135,364

Deferred tax


Origination and reversal of timing differences
(1,241)
2,564

Total deferred tax
(1,241)
2,564


555,763
137,928

Factors affecting tax charge for the year

The tax assessed for the year is higher than (2023 - higher than) the standard rate of corporation tax in the UK of 25% (2023 - 25%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
1,863,645
933,036


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 25%)
465,911
233,259

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
1,414
1,918

Adjustments to tax charge in respect of prior periods
88,438
(24,240)

Adjustment in research and development tax credit leading to an increase (decrease) in the tax charge
-
(40,543)

Changes in provisions leading to an increase (decrease) in the tax charge
-
(11,600)

Change in tax rate
-
(20,866)

Total tax charge for the year
555,763
137,928

Page 28

 
TOTAL CONTROL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
 
11.Taxation (continued)


Factors that may affect future tax charges

There were no factors that may affect future tax charges.


12.


Parent company profit for the year

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 profit after tax of the parent Company for the year was £966,178 (2023 - £916,951).


13.


Tangible fixed assets

Group and Company






Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 October 2023
77,770
199,514
50,992
113,272
441,548


Additions
1,052
-
-
25,482
26,534


Disposals
-
(33,642)
-
(1,873)
(35,515)



At 30 September 2024

78,822
165,872
50,992
136,881
432,567



Depreciation


At 1 October 2023
76,287
165,140
50,933
98,214
390,574


Charge for the year on owned assets
1,331
14,112
59
17,809
33,311


Disposals
-
(33,642)
-
(1,873)
(35,515)



At 30 September 2024

77,618
145,610
50,992
114,150
388,370



Net book value



At 30 September 2024
1,204
20,262
-
22,731
44,197



At 30 September 2023
1,484
34,374
59
15,058
50,975

All of the Group's tangible fixed assets are held in the trading subsidiary company Total Control Services Limited.

Page 29

 
TOTAL CONTROL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

14.


Fixed asset investments

Company





Investments in subsidiary companies

£



Cost or valuation


At 1 October 2023
83,815


Additions
333



At 30 September 2024
84,148






Net book value



At 30 September 2024
84,148



At 30 September 2023
83,815


Direct subsidiary undertakings


The following were direct subsidiary undertakings of the Company:

Name

Principal activity

Class of shares

Holding

Total Control Services Limited
Building control systems
Ordinary
100%
Total Control Energy Limited
Dormant
Ordinary
100%
Total Control Projects Limited
Dormant
Ordinary
100%

The aggregate of the share capital and reserves as at 30 September 2024 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)
£
£

Total Control Services Limited
2,775,778
1,307,882

Total Control Energy Limited
100
-

Total Control Projects Limited
100
-

Page 30

 
TOTAL CONTROL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

Indirect subsidiary undertaking


The following was an indirect subsidiary undertaking of the Company:

Name

Principal activity

Class of shares

Holding

Total Control Maintenance Limited
Dormant
Ordinary
100%

The aggregate of the share capital and reserves as at 30 September 2024 and the profit or loss for the year ended on that date for the subsidiary undertaking were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)

Total Control Maintenance Limited
100
-


15.


Stocks

Group
Group
2024
2023
£
£

Raw materials and consumables
458,767
435,062

Long-term contract balances
159,225
306,234

617,992
741,296


The difference between purchase price or production cost of stocks and their replacement cost is not material.

Long-term contract balances consist of:

Group
Group
2024
2023
£
£


Costs to date less provision for losses
159,225
306,234


Page 31

 
TOTAL CONTROL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

16.


Debtors

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Trade debtors
3,109,818
3,412,516
-
-

Amounts owed by group undertakings
39
39
405,596
405,596

Other debtors
745
2,942
-
-

Prepayments and accrued income
281,682
217,013
-
-

3,392,284
3,632,510
405,596
405,596



17.


Cash and cash equivalents

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Cash at bank and in hand
1,851,342
758,913
94
94

1,851,342
758,913
94
94



18.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Trade creditors
998,018
1,059,641
-
-

Corporation tax
557,004
191,447
-
-

Other taxation and social security
158,360
157,959
-
-

Other creditors
108,941
106,467
35
35

Accruals and deferred income
897,907
823,391
-
-

2,720,230
2,338,905
35
35


Page 32

 
TOTAL CONTROL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

19.


Deferred taxation


Group



2024
2023


£

£






At beginning of year
(5,193)
(2,629)


Charged to profit or loss
-
(2,564)


Utilised in year
1,241
-



At end of year
(3,952)
(5,193)

Group
Group
2024
2023
£
£

Accelerated capital allowances
(3,952)
(5,193)

(3,952)
(5,193)


In the year following this financial year it is estimated that £1,000 of this liability will reverse as depreciation charged is likely to exceed tax writing down allowances.


20.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



153,797 (2023 - 153,797) Ordinary shares of £0.01 each
1,538
1,538


Page 33

 
TOTAL CONTROL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

21.


Share-based payments

The company has granted several different share options over the years. It operates the scheme and has offered shares in itself to employees of its subsidiary company Total Control Services Ltd.
In May 2021 24,000 options were granted to 21 employees of Total Control Services Limited. These options also have to be exercisable within 10 years of the date of grant. However a further condition was that they could not be vested until the EOT had repaid all of the money it owed from the share purchase agreement. These options were considered to have a fair value of £0.09 each, which was determined by applying a binomial option pricing model to arrive at the option value. The expense recognised for share-based payments in respect of employee services received during the year to 30 September 2024 is £333 (2023 - £387). 

Weighted average exercise price (pence)
2024
Number
2024
Weighted average exercise price
(pence)
2023
Number
2023

Outstanding at the beginning of the year

16

24,000

16
 
24,000
 
Exercised during the year


-

 
-
 
Outstanding at the end of the year
16

24,000

16
 
24,000
 





22.


Contingent liabilities and charge over the assets of the Company

In November 2020, each of the shareholders of the company (the Vendors) sold their shares to an Employee Ownership Trust (EOT). The total sale consideration was £9,589,856 and the terms of the sale provided that an initial payment of £3,665,860 was made and the balance of the consideration is to be paid over the following 6 years on a rising payment profile. The Company has guaranteed, with its subsidiary company (Total Control Services Ltd), the obligation of the EOT and may be called upon to contribute to meet the further payments due to the Vendors. At 30 September 2024, the amount outstanding and due by the EOT to the Vedors amounted to £2,658,732.
If the Company was to contribute to the EOT in order for the EOT to meet those outstanding amounts, it is expected that contributions would be as follows:

within 12 months of the balance sheet date  £1,015,413
within 12-24 months of the balance sheet date£1,064,671
within 24-36 months of the balance sheet date£   578,648

The Company entered into a fixed and floating charge over its assets and business in favour of the Vendors in support of this co-guarantee.

Page 34

 
TOTAL CONTROL GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

23.


Pension commitments

The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and is reported in note 9. Contributions of £35,989 (2023: £32,780) were outstanding at the balance sheet date.


24.


Commitments under operating leases

At 30 September 2024 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
Group
2024
2023
£
£

Not later than 1 year
327,610
273,954

Later than 1 year and not later than 5 years
325,081
314,964

652,691
588,918


25.


Related party transactions

The following table shows transactions and balances with related parties. 


2024
2023
£
£

Compensation, other key management personnel
576,705
559,144


26.


Controlling party

During the period, the company is controlled by The Total Control Employee Ownership Trust.

 
Page 35