COMPANY REGISTRATION NUMBER 1422156
TBA DONCASTER LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
TBA DONCASTER LIMITED
COMPANY INFORMATION
Directors
D Trueman
Mr C Hicks
(Appointed 20 December 2024)
Mr H Parkkola
(Appointed 20 December 2024)
Mr Juha Vanhanen
(Appointed 20 December 2024)
Company number
1422156
Registered office
4 Railway Court
Ten Pound Walk
Doncaster
South Yorkshire
DN4 5FB
Auditor
Bright Grahame Murray
Emperor's Gate
114a Cromwell Road
Kensington
London
SW7 4AG
Bankers
NatWest Bank plc
12 High Street
Doncaster
South Yorkshire
DN1 1EJ
TBA DONCASTER LIMITED
CONTENTS
Page
Directors' report
1 - 2
Directors' responsibilities statement
3
Independent auditor's report
4 - 8
Profit and loss account
9
Statement of comprehensive income
10
Balance sheet
11
Statement of changes in equity
12
Notes to the financial statements
13 - 29
TBA DONCASTER LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

The directors present their report and financial statements for the year ended 31 December 2024.

Principal activities

The principal activity of the company is that of control and automation engineering. The principal activities of the business are expected to continue for the foreseeable future.

The results for the year are set out on page 9.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

G Allmendinger
(Resigned 20 December 2024)
D Trueman
K P Van Til
(Resigned 20 December 2024)
Mr C Hicks
(Appointed 20 December 2024)
Mr H Parkkola
(Appointed 20 December 2024)
Mr Juha Vanhanen
(Appointed 20 December 2024)
Qualifying third party indemnity provisions

The company has made qualifying third party indemnity provisions for the benefit of its directors during the year. These provisions remain in force at the reporting date.

Directors' insurance

The company maintains insurance policies on behalf of all the directors against liability arising from negligence, breach of duty and breach of trust in relation to the company.

Auditor

In accordance with the company's articles, a resolution proposing that Bright Grahame Murray be reappointed as auditor of the company will be put at a General Meeting.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

TBA DONCASTER LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
Going concern

The financial statements have been prepared on a going concern basis which assumes the company will continue in operational existence for the foreseeable future.

 

The directors are required to consider the application of the going concern concept when signing financial statements. The principal element required to meet the test is sufficient liquidity for a period of twelve months subsequent to the date of signing the accounts, and the company forecasts it will have sufficient liquidity for a 12 month period for the period to June 2025. The directors have assessed the ability of the group to provide this support noting no concerns, and as a result continue to prepare the financial statements on the going concern basis.

On behalf of the board
D Trueman
Director
16 June 2025
TBA DONCASTER LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -

The directors are responsible for preparing the annual 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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:

 

 

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 enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

- 4 -
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
TBA DONCASTER LIMITED
Opinion

We have audited the financial statements of TBA Doncaster Limited (the 'company') for the year ended 31 December 2023 which comprise the Profit and Loss Account, the Balance Sheet, the Statement of changes in equity and the related notes 1 to 24, 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 FRS 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:

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 below. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’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 12 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. However, because not all future events or conditions can be predicted, this statement is not a guarantee as to the company's ability to continue as a going concern.

- 5 -
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
TBA DONCASTER 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.

 

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 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 or a material misstatement of the other information. 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

 

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 and the directors' report.

 

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

 

- 6 -
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
TBA DONCASTER LIMITED CONTINUED
(continued)
Responsibilities of directors

As explained more fully in the directors' responsibilities statement, 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.

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.

- 7 -
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
TBA DONCASTER LIMITED CONTINUED
(continued)
Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect irregularities, including fraud. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.
• We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant are those that relate to the reporting framework (FRS 102 and the Companies Act 2006) and compliance with the relevant direct and indirect tax regulation in the United Kingdom. In addition, the Company has to comply with laws and regulations relating to its operations, including health and safety and GDPR.
• We understood how the company is complying with those frameworks by making enquiries of management and those charged with governance to understand how the company maintains and communicates its policies and procedures in these areas. We understood any controls put in place by management to reduce the opportunities for fraudulent transactions.
• We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur through internal team conversations and inquiry of management and those charged with governance and noted that two directors hold minority shareholding in the company. Through these procedures we determined there to be a risk of management override associated with revenue and a fraud risk around revenue recognition, and in particular the revenue recognition on open contracts at the year end. We selected a sample of open contracts at the year end to perform detailed testing, including understanding the nature of the contract and the stage of completion, testing the costs to complete to verify that the margin is appropriate and verifying the clerical accuracy of the revenue calculation. In relation to management override we used data analytics to sample from the entire population of journals, identifying specific transactions which did not meet our expectations based on specific criteria, to investigate to gain an understanding and agree to source documentation.
• Based on our understanding we designed our audit procedures to identify non-compliance with these laws and regulations and to respond to the assessed risks. Our procedures included verifying that material transactions are recorded in compliance with FRS 102 and where appropriate Companies Act 2006. Compliance with other operational laws and regulations was covered through our inquiry with no indication of non-compliance identified.

A further description of our responsibilities for the audit of the financial statements is located on the
Financial Reporting Council's website at https://www.frc.org.uk/auditorsresponsibilities.  This description forms part of our auditor's report.
- 8 -
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
TBA DONCASTER LIMITED CONTINUED
(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 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Ahsan Miraj  (Statutory Senior Auditor)
for and on behalf of Bright Grahame Murray, Statutory Auditor
Emperor's Gate, 114a Cromwell Road, Kensington, London SW7 4AG
16 June 2025
TBA DONCASTER LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
2024
2023
Notes
£
£
Turnover
3
7,596,572
6,236,844
Cost of sales
(6,391,176)
(5,001,567)
Gross profit
1,205,396
1,235,277
Administrative expenses
(718,607)
(633,340)
Operating profit
4
486,789
601,937
Interest receivable and similar income
8
8,236
2,040
Interest payable and similar expenses
9
(50,726)
(1,100)
Profit before taxation
444,299
602,877
Tax on profit
10
(164,894)
(93,234)
Profit for the financial year
279,405
509,643

The profit and loss account has been prepared on the basis that all operations are continuing operations.

TBA DONCASTER LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
- 10 -
2024
2023
£
£
Profit for the year
279,405
509,643
Other comprehensive income
-
-
Total comprehensive income for the year
279,405
509,643
TBA DONCASTER LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 11 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
11
-
0
528
Tangible assets
12
70,304
44,769
70,304
45,297
Current assets
Debtors
13
6,689,016
4,952,063
Cash at bank and in hand
307,321
608,168
6,996,337
5,560,231
Creditors: amounts falling due within one year
14
(2,515,470)
(2,339,489)
Net current assets
4,480,867
3,220,742
Total assets less current liabilities
4,551,171
3,266,039
Creditors: amounts falling due after more than one year
15
(1,500,000)
(500,000)
Provisions for liabilities
Deferred tax liability
17
5,727
-
0
(5,727)
-
Net assets
3,045,444
2,766,039
Capital and reserves
Called up share capital
19
10,000
10,000
Share premium account
20
36,000
36,000
Profit and loss reserves
21
2,999,444
2,720,039
Total equity
3,045,444
2,766,039
The financial statements were approved by the board of directors and authorised for issue on 16 June 2025 and are signed on its behalf by:
D Trueman
Director
Company registration number 1422156 (England and Wales)
TBA DONCASTER LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 12 -
Share capital
Share premium account
Profit and loss reserves
Total
£
£
£
£
Balance at 1 January 2023
10,000
36,000
2,210,396
2,256,396
Year ended 31 December 2023:
Profit and total comprehensive income
-
-
509,643
509,643
Balance at 31 December 2023
10,000
36,000
2,720,039
2,766,039
Year ended 31 December 2024:
Profit and total comprehensive income
-
-
279,405
279,405
Balance at 31 December 2024
10,000
36,000
2,999,444
3,045,444
TBA DONCASTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 13 -
1
Accounting policies
Company information

TBA Doncaster Limited is a limited company domiciled and incorporated in England and Wales. The registered office is 4 Railway Court, Ten Pound Walk, Doncaster, South Yorkshire, DN4 5FB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

TBA DONCASTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 14 -
1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

The financial statements have been prepared on a going concern basis which assumes the company will continue in operational existence for the foreseeable future.

 

The directors are required to consider the application of the going concern concept when signing financial statements. The principal element required to meet the test is sufficient liquidity for a period of twelve months subsequent to the date of signing the accounts, and the company forecasts it will have sufficient liquidity for a 12 month period for the period to June 2025. The directors have assessed the ability of the group to provide this support noting no concerns, and as a result continue to prepare the financial statements on the going concern basis.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Revenue not billed to customers is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
33.33% Straight line
Development costs
10% Straight line
TBA DONCASTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 15 -
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% Reducing balance and straight line varying from 14.29% to 33.33%
Motor vehicles
25% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

TBA DONCASTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 16 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

TBA DONCASTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 17 -
Classification of 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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

TBA DONCASTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 18 -
1.9
Derivatives

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.

 

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

TBA DONCASTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 19 -
1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.14
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements 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 amount 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Revenue recognition - long term contract accounting

The company generates revenue from long term contracts. This often requires judgement to be applied in estimating the stage of completion of the contract at the balance sheet date based on the forecast total contract costs that are expected to be incurred on the contract. Where actual results differ to the estimates made, this could result in a significant impact on the company's financial results.

3
Turnover and other revenue

An analysis of the company's turnover is as follows:

2024
2023
£
£
Turnover analysed by class of business
Sale of services
7,596,572
6,236,844
TBA DONCASTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
3
Turnover and other revenue
(Continued)
- 20 -
2024
2023
£
£
Turnover analysed by geographical market
United Kingdom
7,217,917
6,037,003
Rest of the world
378,655
199,841
7,596,572
6,236,844
2024
2023
£
£
Other revenue
Interest income
8,236
2,040
4
Operating profit
2024
2023
Operating profit for the year is stated after charging:
£
£
Exchange losses
27,463
13,827
Depreciation of owned tangible fixed assets
34,695
31,094
Loss on disposal of tangible fixed assets
380
-
Amortisation of intangible assets
528
1,052
Operating lease charges
62,894
74,114
5
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
16,000
19,250

 

TBA DONCASTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 21 -
6
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Directors
3
2
Engineers
33
28
Administrative staff
4
4
Total
40
34

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
2,249,042
1,919,299
Social security costs
257,609
234,257
Pension costs
86,463
37,024
2,593,114
2,190,580

Pension costs payable at the year end to the company's defined contribution scheme were £24,390 (2023 - £9,725).

7
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
225,295
235,159
Company pension contributions to defined contribution schemes
6,057
2,642
231,352
237,801

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 2 (2023 - 2).

TBA DONCASTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
7
Directors' remuneration
(Continued)
- 22 -
Remuneration disclosed above include the following amounts paid to the highest paid director:
2024
2023
£
£
Remuneration for qualifying services
120,856
115,944
Company pension contributions to defined contribution schemes
2,908
1,321

One of the directors of the company is not remunerated by TBA Doncaster as their role encompasses a wider function for the group as a whole.

8
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
829
2,040
Other interest income
7,407
-
0
Total income
8,236
2,040
9
Interest payable and similar expenses
2024
2023
£
£
Interest payable to group undertakings
50,427
1,100
Other interest
299
-
0
50,726
1,100
10
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
103,519
82,835
Adjustments in respect of prior periods
55,149
-
0
Total current tax
158,668
82,835
TBA DONCASTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
10
Taxation
2024
2023
£
£
(Continued)
- 23 -
Deferred tax
Origination and reversal of timing differences
6,226
10,399
Total tax charge
164,894
93,234

The change in the applicable tax rate compared with the previous year is as a result of a change in the rate of UK corporation tax.

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
444,299
602,877
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 25.00%)
111,075
150,719
Tax effect of expenses that are not deductible in determining taxable profit
764
1,463
Adjustments in respect of prior years
55,149
-
0
Group relief
-
0
(61,215)
Depreciation on assets not qualifying for tax allowances
-
0
263
Deferred tax adjustments in respect of prior years
(2,094)
10,399
Enhanced capital allowances
-
0
153
Other
-
0
375
Difference due to change in tax rate
-
0
(8,923)
Taxation charge for the year
164,894
93,234
TBA DONCASTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 24 -
11
Intangible fixed assets
Software
Development costs
Total
£
£
£
Cost
At 1 January 2024
43,936
397,996
441,932
Disposals
(21,394)
-
0
(21,394)
At 31 December 2024
22,542
397,996
420,538
Amortisation and impairment
At 1 January 2024
43,408
397,996
441,404
Amortisation charged for the year
528
-
0
528
Disposals
(21,394)
-
0
(21,394)
At 31 December 2024
22,542
397,996
420,538
Carrying amount
At 31 December 2024
-
0
-
0
-
0
At 31 December 2023
528
-
0
528
12
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 January 2024
222,970
11,440
234,410
Additions
60,610
-
0
60,610
Disposals
(103,928)
-
0
(103,928)
At 31 December 2024
179,652
11,440
191,092
Depreciation and impairment
At 1 January 2024
178,201
11,440
189,641
Depreciation charged in the year
34,695
-
0
34,695
Eliminated in respect of disposals
(103,548)
-
0
(103,548)
At 31 December 2024
109,348
11,440
120,788
Carrying amount
At 31 December 2024
70,304
-
0
70,304
At 31 December 2023
44,769
-
0
44,769
TBA DONCASTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 25 -
13
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,252,057
1,491,626
Gross amounts owed by contract customers
5,006,203
3,300,317
Corporation tax recoverable
320,202
59,982
Amounts owed by group undertakings
9,378
-
0
Prepayments and accrued income
101,176
99,639
6,689,016
4,951,564
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset (note 17)
-
0
499
Total debtors
6,689,016
4,952,063

Trade debtors disclosed above are classified as loans and receivables and are therefore measured at amortised cost.

 

Trade debtors are stated after provisions for impairments of £Nil (2023 - £Nil).

14
Creditors: amounts falling due within one year
2024
2023
£
£
Payments received on account
361,991
353,821
Trade creditors
504,761
478,742
Amounts owed to group undertakings
650,345
552,085
Taxation and social security
121,269
81,048
Other creditors
8,649
221,202
Accruals and deferred income
868,455
652,591
2,515,470
2,339,489
TBA DONCASTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 26 -
15
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Other borrowings
16
1,500,000
500,000
16
Loans and overdrafts
2024
2023
£
£
Loans from group undertakings
1,500,000
500,000
Payable after one year
1,500,000
500,000

The company has acquired a revolving loan facility from a finance company under common control with the ultimate controlling party. The agreement requires the facility to be fully repaid by 15 December 2028 and interest is accruing on a daily basis and will be invoiced every six months. The interest will be charged at market rates based upon credit score ratings for the borrower and will be reassessed annually.

17
Deferred taxation

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Liabilities
Liabilities
Assets
Assets
2024
2023
2024
2023
Balances:
£
£
£
£
Accelerated Capital Allowances
5,727
-
-
499
2024
Movements in the year:
£
Asset at 1 January 2024
(499)
Charge to profit or loss
6,226
Liability at 31 December 2024
5,727
TBA DONCASTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 27 -
18
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
86,463
37,024

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

19
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
10,000
10,000
10,000
10,000

The company has one class of ordinary shares which carry no right to fixed income. These shares carry voting rights of one vote per share.

20
Share premium account
2024
2023
£
£
At the beginning and end of the year
36,000
36,000

The share premium account represents the excess consideration paid over the nominal value of the shares of the company.

21
Profit and loss reserves
2024
2023
£
£
At the beginning of the year
2,720,039
2,210,396
Profit for the year
279,405
509,643
At the end of the year
2,999,444
2,720,039
TBA DONCASTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 28 -
22
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024
2023
£
£
Within one year
90,599
29,291
Between two and five years
170,009
51,970
260,608
81,261
23
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Sale of goods and services
Purchase of goods and services
2024
2023
2024
2023
£
£
£
£
Entities with control, joint control or significant influence over the company
-
-
420,102
298,771
Fellow subsidiaries
70,463
88,964
828,673
540,743

The following amounts were outstanding at the year end date:

2024
2023
Amounts due to related parties
£
£
Fellow subsidiaries
200,314
469,251

 

TBA DONCASTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 29 -
24
Ultimate controlling party

The ultimate parent and controlling party at 31 December 2024 was Konecranes Plc, a company incorporated in Finland that owns 69.78% of the company's share capital. Konecranes Plc is the largest and smallest group undertaking to consolidate the company's financial statements. Copies of the group financial statements are available from Konecranes Plc, PO Box 661, Koneenkatu 8, FI-05801, Hyvinkaa, Finland.

The company's immediate parent company is Port Software Solutions BV, a company incorporated in the Netherlands.

 

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