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Registered number:
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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TOTAL CONTROL GROUP LIMITED
COMPANY INFORMATION
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TOTAL CONTROL GROUP LIMITED
CONTENTS
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TOTAL CONTROL GROUP LIMITED
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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.
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.
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TOTAL CONTROL GROUP LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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.
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
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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.
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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.
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.
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 2006. They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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.
The directors who served during the year were:
The business review, principal risks and uncertainties are dealt with in the strategic report rather than in the directors report.
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TOTAL CONTROL GROUP LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The auditors, Creasey Son & Wickenden, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on
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TOTAL CONTROL GROUP LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TOTAL CONTROL GROUP LIMITED
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 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 Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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TOTAL CONTROL GROUP LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TOTAL CONTROL GROUP LIMITED (CONTINUED)
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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' report.
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TOTAL CONTROL GROUP LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TOTAL CONTROL GROUP 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 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.
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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.
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
Registered auditor
Hearts of Oak House
Pembroke Road
Kent
TN13 1XR
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TOTAL CONTROL GROUP LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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TOTAL CONTROL GROUP LIMITED
REGISTERED NUMBER: 08375114
CONSOLIDATED BALANCE SHEET
AS AT 30 SEPTEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 18 to 35 form part of these financial statements.
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TOTAL CONTROL GROUP LIMITED
REGISTERED NUMBER: 08375114
COMPANY BALANCE SHEET
AS AT 30 SEPTEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 18 to 35 form part of these financial statements.
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TOTAL CONTROL GROUP LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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TOTAL CONTROL GROUP LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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TOTAL CONTROL GROUP LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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TOTAL CONTROL GROUP LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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TOTAL CONTROL GROUP LIMITED
CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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TOTAL CONTROL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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
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:
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.
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TOTAL CONTROL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2.Accounting policies (continued)
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TOTAL CONTROL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2.Accounting policies (continued)
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.
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TOTAL CONTROL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2.Accounting policies (continued)
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.
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TOTAL CONTROL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2.Accounting policies (continued)
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:
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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TOTAL CONTROL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2.Accounting policies (continued)
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
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TOTAL CONTROL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2.Accounting policies (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
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TOTAL CONTROL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2.Accounting policies (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.
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.
The whole of the turnover is attributable to the company's principal activity.
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TOTAL CONTROL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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TOTAL CONTROL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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TOTAL CONTROL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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TOTAL CONTROL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
11.Taxation (continued)
There were no factors that may affect future tax charges.
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 £
All of the Group's tangible fixed assets are held in the trading subsidiary company Total Control Services Limited.
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TOTAL CONTROL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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TOTAL CONTROL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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TOTAL CONTROL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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TOTAL CONTROL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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TOTAL CONTROL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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.
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TOTAL CONTROL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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.
During the period, the company is controlled by The Total Control Employee Ownership Trust.
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