Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-292024-09-29falsefalse752023-10-02false84false 03890617 2023-10-02 2024-09-29 03890617 2022-10-03 2023-10-01 03890617 2024-09-29 03890617 2023-10-01 03890617 2022-10-03 03890617 1 2023-10-02 2024-09-29 03890617 1 2022-10-03 2023-10-01 03890617 5 2023-10-02 2024-09-29 03890617 5 2022-10-03 2023-10-01 03890617 d:CompanySecretary1 2023-10-02 2024-09-29 03890617 d:Director1 2023-10-02 2024-09-29 03890617 d:Director2 2023-10-02 2024-09-29 03890617 d:Director3 2023-10-02 2024-09-29 03890617 d:Director4 2023-10-02 2024-09-29 03890617 d:RegisteredOffice 2023-10-02 2024-09-29 03890617 d:Agent1 2023-10-02 2024-09-29 03890617 e:PlantMachinery 2023-10-02 2024-09-29 03890617 e:PlantMachinery 2024-09-29 03890617 e:PlantMachinery 2023-10-01 03890617 e:PlantMachinery e:OwnedOrFreeholdAssets 2023-10-02 2024-09-29 03890617 e:CurrentFinancialInstruments 2024-09-29 03890617 e:CurrentFinancialInstruments 2023-10-01 03890617 e:Non-currentFinancialInstruments 2024-09-29 03890617 e:Non-currentFinancialInstruments 2023-10-01 03890617 e:CurrentFinancialInstruments e:WithinOneYear 2024-09-29 03890617 e:CurrentFinancialInstruments e:WithinOneYear 2023-10-01 03890617 f:UnitedKingdom 2023-10-02 2024-09-29 03890617 f:UnitedKingdom 2022-10-03 2023-10-01 03890617 f:RestWorldOutsideUK 2023-10-02 2024-09-29 03890617 f:RestWorldOutsideUK 2022-10-03 2023-10-01 03890617 e:UKTax 2023-10-02 2024-09-29 03890617 e:UKTax 2022-10-03 2023-10-01 03890617 e:ShareCapital 2023-10-02 2024-09-29 03890617 e:ShareCapital 2024-09-29 03890617 e:ShareCapital 2022-10-03 2023-10-01 03890617 e:ShareCapital 2023-10-01 03890617 e:ShareCapital 2022-10-03 03890617 e:OtherMiscellaneousReserve 2023-10-02 2024-09-29 03890617 e:RetainedEarningsAccumulatedLosses 2023-10-02 2024-09-29 03890617 e:RetainedEarningsAccumulatedLosses 2024-09-29 03890617 e:RetainedEarningsAccumulatedLosses 2022-10-03 2023-10-01 03890617 e:RetainedEarningsAccumulatedLosses 2023-10-01 03890617 e:RetainedEarningsAccumulatedLosses 2022-10-03 03890617 e:AcceleratedTaxDepreciationDeferredTax 2024-09-29 03890617 e:AcceleratedTaxDepreciationDeferredTax 2023-10-01 03890617 d:OrdinaryShareClass1 2023-10-02 2024-09-29 03890617 d:OrdinaryShareClass1 2024-09-29 03890617 d:OrdinaryShareClass1 2023-10-01 03890617 d:FRS102 2023-10-02 2024-09-29 03890617 d:Audited 2023-10-02 2024-09-29 03890617 d:FullAccounts 2023-10-02 2024-09-29 03890617 d:PrivateLimitedCompanyLtd 2023-10-02 2024-09-29 03890617 e:Subsidiary1 2023-10-02 2024-09-29 03890617 e:Subsidiary1 1 2023-10-02 2024-09-29 03890617 6 2023-10-02 2024-09-29 03890617 g:PoundSterling 2023-10-02 2024-09-29 xbrli:shares iso4217:GBP xbrli:pure
Registered Number:03890617













NDY CONSULTING LIMITED






FINANCIAL STATEMENTS

PERIOD FROM 2 OCTOBER 2023 TO 29 SEPTEMBER 2024











 
NDY CONSULTING LIMITED
 

 
COMPANY INFORMATION


Directors
Stuart Fowler 
Richard Alan Lemmon 
Raghav Padaychi 
Rhian Chapman (appointed 6 September 2024)




Company secretary
Rhian Chapman (resigned 20 May 2024) 
Andrew Murdoch (appointed 20 May 2024)



Registered number
03890617



Registered office
1 Angel Court

London

EC2R 7HJ




Independent auditor
Sumer Auditco Limited
Statutory Auditor

820 The Crescent

Colchester Business Park

Colchester

Essex

CO4 9YQ




Bankers
Lloyds Bank Plc
185 Baker Street

London

NW1 6XB




Solicitors
Beale & Company Solicitors LLP
85 King William Street

London

EC4N 7BL






 
NDY CONSULTING LIMITED
 


CONTENTS



Page
Strategic Report
1 - 3
Directors' Report
4 - 5
Independent Auditor's Report
6 - 9
Statement of Comprehensive Income (including the profit and loss account)
10
Balance Sheet
11
Statement of Changes in Equity
12
Statement of Cash Flows
13
Analysis of Net Debt
14
Notes to the Financial Statements
15 - 28


 
NDY CONSULTING LIMITED
 

 
STRATEGIC REPORT
FOR THE PERIOD ENDED 29 SEPTEMBER 2024

Introduction
 
The company's principal activity during the period continued to be that of consulting engineers. There have not been any significant changes in the company’s principal activities in the period under review. The directors are not aware, at the date of the report, of any likely changes in the company’s activities in the forthcoming period.

Business review
 
Revenue for the period amounted to £10,589,260 (2023: £12,555,952). This reflects the difficult market conditions across the industry.
Operating profit % has increased to 9% (2023: 7%) which highlights the strategic interventions to drive operational efficiencies and maximise resource utilisation. Effective talent management strategies are essential to harness the full potential of our team and promote a culture of collaboration and innovation.
This has resulted in an operating profit of £1,001,650 (2023: £917,923).
At the period end the company had net current assets of £4,261,147 (2023: £3,531,443) including cash at bank of £1.10m (2023: £1.05m). Thus, the company is in a strong financial position to continue trading for the foreseeable future.

Future developments and subsequent events

We will continue to grow our business through expanding existing service offerings and entering new market sectors. We will continue our strategy of providing the highest level of service to our clients. 
There have been no significant developments since the period end.


- 1 -



 
NDY CONSULTING LIMITED
 


STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 29 SEPTEMBER 2024

Principal risks and uncertainties
 
The key financial risks to which the company is exposed are price risk, credit risk, liquidity risk and cash flow risk.
Price risk:
The company does not have any financial assets or liabilities held at fair value so does not anticipate any significant exposure to price risk.
Credit risk:
The company’s principal financial assets are bank balances and trade and other receivables. The company’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows. The company has no significant concentration of credit risk, with exposure over a large number of clients.
Liquidity and cash flow risks:
The company prepares profit and cash flow forecasts, and regularly monitors actual performance against these forecasts in order to ensure that adequate sources of finance are in place to meet the requirements of the business. In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the company has access to group debt finance.
Wider economy risk:
The downturn of the world economy and the current cost of living crisis has resulted in the need for a constant review of the impact this may have on the company. The directors assess and put in place plans to react to this situation as it evolves.

Financial key performance indicators
 
The company measures its financial performance using the following key performance indicators:

29 September
1 October
2024
2023


Gross Revenue
           9.5%
            7.3%

Net Revenue
          11.1%
            8.6%

Operating Income (£000)
1,004
918

Accounts Receivable Days (target 60 days)
             59.7
              62.1

Days Sales Outstanding (target 30 days)
              9.4
               8.6

Unbilled days (target 15 days)
             11.7
             10.9


- 2 -



 
NDY CONSULTING LIMITED
 


STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 29 SEPTEMBER 2024


This report was approved by the board on 20 June 2025 and signed on its behalf.



Raghav Padaychi
Director

- 3 -



 
NDY CONSULTING LIMITED
 

 
DIRECTORS' REPORT
FOR THE PERIOD ENDED 29 SEPTEMBER 2024

The directors present their report and the financial statements for the period ended 29 September 2024.

Results and dividends

The profit for the period, after taxation, amounted to £703,430 (2023: £711,074).

Principal activity

The principal activity of the company in the period under review continued to be that of consulting engineers.
The company is a wholly owned subsidiary of Tetra Tech UK Holdings Limited. The directors are not aware, at the date of this report, of any likely major changes in the company’s activities.

Future developments

We will continue to grow our business through expanding existing service offerings and entering new market sectors. We will continue our strategy for providing the highest level of service to our clients.

Directors

The directors who served during the period were:

Stuart Fowler 
Richard Alan Lemmon 
Raghav Padaychi 
Rhian Chapman (appointed 6 September 2024)

Disclosure of information to auditor

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's auditor is 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's auditor is aware of that information.


- 4 -



 
NDY CONSULTING LIMITED
 

 
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 29 SEPTEMBER 2024

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the Directors' Report and the 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 of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Principal risks and uncertainties

The company has chosen to set out information required to be contained in the directors report in respect of exposure to principal risks and uncertainties.

Auditor

The auditor, Sumer Auditco Limitedwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 20 June 2025 and signed on its behalf.
 





Raghav Padaychi
Director


- 5 -



 
NDY CONSULTING LIMITED
 

 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NDY CONSULTING LIMITED

Opinion


We have audited the financial statements of NDY Consulting Limited (the 'Company') for the period ended 29 September 2024, which comprise the Statement of Comprehensive Income (including the Profit and Loss Account), the Balance Sheet, the Statement of Cash Flows, the 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 Company's affairs as at 29 September 2024 and of its profit for the period 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


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 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.



- 6 -



 
NDY CONSULTING LIMITED
 

 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NDY CONSULTING LIMITED (CONTINUED)

Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the Annual 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 Strategic Report and the Directors' Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.


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, or returns adequate for our audit have not been received from branches not visited by us; or
the 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.


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 5, 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 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 Company or to cease operations, or have no realistic alternative but to do so.



- 7 -



 
NDY CONSULTING LIMITED
 

 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NDY CONSULTING LIMITED (CONTINUED)

Auditor's 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 Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
 
We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, through discussions with the directors (as required by auditing standards), inspection of the company's regulatory and legal correspondence and discussed with the directors the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indications of noncompliance throughout the audit.
The potential effect of these laws and regulations on the financial statements varies considerably.
Firstly, the Company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation and taxation legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.
Secondly, the Company is subject to many other laws and regulations where the consequences of noncompliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: health and safety, anti-bribery and corruption, human rights and employment law, and UK GDPR. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any.
Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: enquiries of management and those charged with governance as to whether the company complies with such regulations, enquiries of management and those charged with governance concerning any actual or potential litigation or claims, inspection of any relevant legal documentation, review of board minutes, testing the appropriateness of journal entries and the performance of analytical review to identify any unexpected movements in account balances which may be indicative of fraud.
There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.



- 8 -



 
NDY CONSULTING LIMITED
 

 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NDY CONSULTING LIMITED (CONTINUED)

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 Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Mr Piers Harrison (Senior Statutory Auditor)
  
for and on behalf of
Sumer Auditco Limited
 
Statutory Auditor
  
820 The Crescent
Colchester Business Park
Colchester
Essex
CO4 9YQ

20 June 2025

- 9 -



 
NDY CONSULTING LIMITED
 

 
STATEMENT OF COMPREHENSIVE INCOME (INCLUDING THE PROFIT AND LOSS ACCOUNT)
FOR THE PERIOD ENDED 29 SEPTEMBER 2024

2 October 2023 to 29 September 2024
3 October 2022 to 1 October 2023
Note
£
£

  

Revenue
 4 
10,589,260
12,555,952

Cost of sales
  
(4,796,190)
(5,656,290)

Gross profit
  
5,793,070
6,899,662

Administrative expenses
  
(4,791,420)
(5,981,739)

Operating profit
 5 
1,001,650
917,923

Interest receivable and similar income
 8 
2,477
-

Profit before tax
  
1,004,127
917,923

Tax on profit
 9 
(300,697)
(206,849)

Profit for the financial period
  
703,430
711,074

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

The notes on pages 15 to 28 form part of these financial statements.


- 10 -



 
NDY CONSULTING LIMITED
REGISTERED NUMBER:03890617


BALANCE SHEET
AS AT 29 SEPTEMBER 2024

29 September
1 October
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 10 
55,524
81,798

Investments
 11 
86
86

  
55,610
81,884

Current assets
  

Debtors: amounts falling due after more than one year
 13 
35,081
45,945

Debtors: amounts falling due within one year
 13 
6,711,039
5,675,506

Cash and cash equivalents
 14 
1,100,169
1,048,926

  
7,846,289
6,770,377

Creditors: amounts falling due within one year
 15 
(3,585,142)
(3,238,934)

Net current assets
  
 
 
4,261,147
 
 
3,531,443

Total assets less current liabilities
  
4,316,757
3,613,327

  

Net assets
  
4,316,757
3,613,327


Capital and reserves
  

Called up share capital 
 16 
23,089
23,089

Retained profits
 17 
4,293,668
3,590,238

  
4,316,757
3,613,327


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 June 2025.




Raghav Padaychi
Director

The notes on pages 15 to 28 form part of these financial statements.


- 11 -



 
NDY CONSULTING LIMITED
 


STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 29 SEPTEMBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 October 2022
23,089
2,879,164
2,902,253


Comprehensive income for the period

Profit for the period
-
711,074
711,074
Total comprehensive income for the period
-
711,074
711,074



At 2 October 2023
23,089
3,590,238
3,613,327


Comprehensive income for the period

Profit for the period
-
703,430
703,430
Total comprehensive income for the period
-
703,430
703,430


Balance at 29 September 2024
23,089
4,293,668
4,316,757


The notes on pages 15 to 28 form part of these financial statements.


- 12 -



 
NDY CONSULTING LIMITED
 


STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 29 SEPTEMBER 2024

2 October 2023 to 29 September
3 October 2022 to 1 October
2024
2023
£
£

Cash flows from operating activities

Profit for the financial period
703,430
711,074

Adjustments for:

Depreciation of tangible assets
33,423
32,238

Loss on disposal of tangible assets
-
41,927

Interest received
(2,477)
-

Taxation charge
300,697
206,849

(Increase) in debtors
(878,754)
(1,137,898)

Increase/(decrease) in creditors
26,665
(512,945)

Corporation tax (paid)
(127,069)
(330,037)

Net cash generated from/(used in) operating activities

55,915
(988,792)


Cash flows from investing activities

Purchase of tangible fixed assets
(7,600)
(45,146)

Sale of tangible fixed assets
451
3,249

Interest received
2,477
-

Net cash from investing activities

(4,672)
(41,897)


Net increase/(decrease) in cash and cash equivalents
51,243
(1,030,689)

Cash and cash equivalents at beginning of period
1,048,926
2,079,615

Cash and cash equivalents at the end of period
1,100,169
1,048,926


Cash and cash equivalents at the end of period comprise:

Cash at bank and in hand
1,100,169
1,048,926

1,100,169
1,048,926


The notes on pages 15 to 28 form part of these financial statements.


- 13 -



 
NDY CONSULTING LIMITED
 


ANALYSIS OF NET DEBT
FOR THE PERIOD ENDED 29 SEPTEMBER 2024




At 2 October 2023
Cash flows
At 29 September 2024
£

£

£

Cash at bank and in hand

1,048,926

51,243

1,100,169


1,048,926
51,243
1,100,169

The notes on pages 15 to 28 form part of these financial statements.


- 14 -



 
NDY CONSULTING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 SEPTEMBER 2024

1.


General information

NDY Consulting Limited is a private company incorporated and domiciled in England & Wales, limited by share capital. The company's registration number is 03890617 and the address of the registered office and principal place of business is 1 Angel Court, London, EC2R 7HJ.

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.

The financial statements are presented in sterling, are rounded to the nearest £1 and have been prepared under the historical cost basis. Sterling is also considered to be the functional currency of the company.
The financial statements have been presented for a twelve month period. The financial statements are prepared on a 4-4-5 basis to the Sunday falling closest to the year end.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of a state other than the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 401 of the Companies Act 2006.

 
2.3

Going concern

Having considered the company's forecasts and projections, the directors are satisfied that the company has adequate resources to continue in operational existence for the foreseeable future, and for a period of at least 12 months from the date of approving these financial statements. The directors believe the company has sufficient financial support available from elsewhere within the group should it be required. For this reason the directors continue to adopt the going concern basis in preparing the accounts.


- 15 -



 
NDY CONSULTING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.4

Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. All such revenue is reported net of discounts and value added and other sales taxes.

Sale of Services
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company 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.
Revenue from fixed price consulting contracts is recognised on the percentage of completion method, measured by reference to the extent of work completed on the project and considering the likely cost to complete the contract.
Revenue from cost plus contracts is recognised by reference to the receivable costs incurred during the period plus the fee earned, measured by the proportion that costs incurred to date bear to the estimated total costs of the contract.
Incomplete contracts
The gross amount due from clients for incomplete contract work is the net amount of:
(a) costs incurred plus recognised profits; less
(b) the sum of recognised losses and progress billings
for all contracts in progress for which costs incurred plus recognised profits (less recognised losses) exceeds progress billings. This is reported as part of debtors on the balance sheet as amounts recoverable on long term contracts.
The gross amount due to clients for contract work is the net amount of:
(a) costs incurred plus recognised profits; less
(b) the sum of recognised losses and progress billings
for all contracts in progress for which progress billings exceed costs incurred plus recognised profits (less recognised losses). This is reported as part of creditors on the balance sheet as unearned.


- 16 -



 
NDY CONSULTING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company 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 Company in independently administered funds.

 
2.6

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Plant and machinery
-
10% to 44.5% straight line

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 within 'administrative expenses' in profit or loss.


- 17 -



 
NDY CONSULTING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the period 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 operates and generates 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.

  
2.8

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.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.10

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.


- 18 -



 
NDY CONSULTING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.11

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.

 
2.12

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affect its both current and future periods.
Amounts recoverable on long term contracts and unearned fees are valued based upon an estimate of the costs to complete as at the Balance Sheet date. The carrying value of amounts recoverable on contracts at the Balance Sheet date was £183,218 (2023 : £253,240) and unearned fees were £1,791,643 (2023 : £1,865,232).
A provision for unbilled receivables is made based upon the value of amounts recoverable on contract that are older than 60 days. The amount provided at the Balance Sheet date was £116,896 (2023: £127,324).


- 19 -



 
NDY CONSULTING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 SEPTEMBER 2024

4.


Revenue

Overseas revenue amounted to 2.36% (2023: 1.55%) of the total revenue for the period. All revenue relates to income recognised from undertaking consulting contracts.

Analysis of turnover by country of destination:

2 October 2023 to 29 September 2024
3 October 2022 to 1 October 2023
£
£

United Kingdom
10,339,291
12,361,678

Rest of World
249,969
194,274

10,589,260
12,555,952



5.


Operating profit

The operating profit is stated after charging/(crediting):

2 October 2023 to 29 September 2024
3 October 2022 to 1 October 2023
£
£

Included in administrative expenses:


Auditor's remuneration - audit service
36,750
35,000

Movement in bad debt
(51,509)
(21,264)

Loss on foreign exchange
5,320
19,099


- 20 -



 
NDY CONSULTING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 SEPTEMBER 2024

6.


Employees

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


2 October 2023 to 29 September 2024
3 October 2022 to 1 October 2023
£
£

Wages and salaries
4,654,648
5,318,132

Social security costs
531,410
591,441

Post employment expense for defined contribution plans
120,698
137,204

5,306,756
6,046,777


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


2 October 2023 to 29 September 2024
3 October 2022 to 1 October 2023
            No.
            No.







Management and administration
13
15



Technical and contract
62
69

75
84


7.


Directors' remuneration

2 October 2023 to 29 September 2024
3 October 2022 to 1 October 2023
£
£

Emoluments
184,500
179,978

Contributions to money purchase pension schemes
5,065
4,893

189,565
184,871


During the period retirement benefits were accruing to 1 director (2023 - 1) in respect of defined contribution pension schemes.


- 21 -



 
NDY CONSULTING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 SEPTEMBER 2024

8.


Interest receivable

2 October 2023 to 29 September 2024
3 October 2022 to 1 October 2023
£
£


Other interest receivable
2,477
-

2,477
-


9.


Taxation


2 October 2023 to 29 September 2024
3 October 2022 to 1 October 2023
£
£

Corporation tax


Current tax on profits for the year
244,136
198,264

Adjustments in respect of previous periods
45,697
6,181


Deferred income tax charge


Relating to origination and reversal of temporary differences
10,864
9,280

Changes to tax rates
-
1,262

Adjustment in respect of previous periods
-
(8,138)


Tax on profit
300,697
206,849

- 22 -



 
NDY CONSULTING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 SEPTEMBER 2024
 
9.Taxation (continued)


Factors affecting tax charge for the period

The tax assessed for the period is higher than (2023 - lower than) the standard rate of corporation tax in the UK of 25% (2023 - 25%). The standard rate of corporation tax in the UK increased from 19% to 25% on 1 April 2023 and therefore the rate used to calculate the tax charge for the period ended 1 October  2023 was 22.01%, being the average rate.
The differences are explained below:

2 October 2023 to 29 September 2024
3 October 2022 to 1 October 2023
£
£


Profit on ordinary activities before tax
1,004,127
917,923


Tax at the domestic income tax rate of 25% (2023 : 22.01%)
251,032
202,178

Effects of:


Tax effect of non-deductible expenses
3,968
5,783

Adjustments in respect of prior periods
45,697
(1,957)

Non-taxable income
-
(400)

Movement due to changes in tax rates
-
1,245

Total tax charge for the period
300,697
206,849


- 23 -



 
NDY CONSULTING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 SEPTEMBER 2024

10.


Tangible fixed assets







Plant and machinery

£



Cost


At 2 October 2023
157,858


Additions
7,600


Disposals
(18,218)



At 29 September 2024

147,240



Depreciation


At 2 October 2023
76,060


Charge for period
33,423


Disposals
(17,767)



At 29 September 2024

91,716



Net book value



At 29 September 2024
55,524



At 1 October 2023
81,798


11.


Fixed asset investments








Investments in subsidiary companies

£



Cost or valuation


At 2 October 2023
86



At 29 September 2024
86





- 24 -



 
NDY CONSULTING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 SEPTEMBER 2024

Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Registered office

Holding

NDY Consulting (Ireland) Limited
1-2 Victoria Buildings, Haddington Road, Dublin 4, Ireland
100%


12.


Deferred taxation






2024


£






At beginning of year
45,945


Charged to profit or loss
(10,864)



At end of year
35,081

The deferred tax asset is made up as follows:

29 September
1 October
2024
2023
£
£


Accelerated capital allowances
35,081
45,945

35,081
45,945


- 25 -



 
NDY CONSULTING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 SEPTEMBER 2024

13.


Debtors

29 September
1 October
2024
2023
£
£

Due after more than one year

Deferred tax asset
35,081
45,945

35,081
45,945


29 September
1 October
2024
2023
£
£

Due within one year

Trade debtors
1,405,113
1,920,087

Receivable from related parties
4,547,443
3,194,820

Other debtors
638
90,854

Corporation tax recoverable
505,118
137,553

Prepayments and accrued income
69,509
78,952

Amounts recoverable on long-term contracts
183,218
253,240

6,711,039
5,675,506



14.


Cash and cash equivalents

29 September
1 October
2024
2023
£
£

Cash at bank
1,100,169
1,048,926

1,100,169
1,048,926



- 26 -



 
NDY CONSULTING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 SEPTEMBER 2024

15.


Creditors: Amounts falling due within one year

29 September
1 October
2024
2023
£
£

Payable to trade suppliers
180,296
41,535

Other payables
43,358
48,724

Taxation and social security payable
539,351
529,074

Payable to related parties
754,581
199,248

Unearned
1,735,243
1,865,232

Accruals and deferred income
332,313
555,121

3,585,142
3,238,934



16.


Share capital

29 September
1 October
2024
2023
£
£
Allotted, called up and fully paid



23,089 (2023 - 23,089) Ordinary shares of £1.00 each
23,089
23,089



17.


Reserves

Called-up Share Capital

Represents the nominal value of shares that have been issued.

Profit and loss account

The profit and loss account represents the company's accumulated profits which are available for distribution to the members


- 27 -



 
NDY CONSULTING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 SEPTEMBER 2024

18.


Related party transactions

Ultimate controlling party
The immediate parent company is Tetra Tech UK Limited, a company registered in England and Wales, and the ultimate parent company and ultimate controlling entity is Tetra Tech, Inc., a company incorporated in the USA.
The largest group in which the results of the company are consolidated is that headed by Tetra Tech, Inc. which is registered on NASDAQ, and whose registered office is 3475 East Foothill Boulevard, Pasadena, California 91107. The financial statements of Tetra Tech, Inc. are publicly available at www.tetratech.com.
Key Management Personnel Remuneration
During the period, key management personnel received remuneration of £495,510 (2023 : £751,163). Included within this amount are employer contributions to defined contribution schemes of £9,591 (2023 : £18,184).
Group balances and transactions
The company has taken advantage of the exemption conferred by FRS 102.s33.1A not to disclose transactions with other wholly owned members of the group.
There were no other related party transactions in the year to disclose.

 

- 28 -