Registered number: 02151319
FOR THE YEAR ENDED 31 DECEMBER 2024
DDC OUTSOURCING SOLUTIONS LIMITED
COMPANY INFORMATION
DDC OUTSOURCING SOLUTIONS LIMITED
CONTENTS
DDC OUTSOURCING SOLUTIONS LIMITED
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present their strategic report for the year ended 31 December 2024.
This was another successful year for the Group. The Group’s profit for the financial year after tax was £2,173,014 (2023: £2,712,620). The Group’s EBITDA (Earnings before Interest, Tax, Depreciation and Amortisation) for the financial year was £3,507,068 (2023: £5,019,732).
At the year end, the Group had further strengthened its position both financially and operationally due to its sectoral expertise, operational capability and the quality of its customer base.
The Group continues to embrace the hybrid operating model which was implemented in 2020 to counter the challenges imposed by the Covid-19 pandemic. The transition to mainly homeworking combined with offices used as hubs for collaboration, training and wellbeing needs has proved very successful. Our hybrid operating model has brought improved resilience, security, virtual collaboration and a demonstrably scalable, future proof business that continues to service clients and support them through challenging times and into the future.
People are key to the success of the Group and it is proud to be able to provide opportunities to talented people across the UK, Bosnia Herzegovina and since 2022 Serbia who are looking for a career and a new challenge working with the DDC group.
At the year end, the Group had further strengthened its position both financially and operationally due to its sectoral expertise, operational capability and the quality of its customer base.
The Group continues to embrace the hybrid operating model which was implemented in 2020 to counter the challenges imposed by the Covid-19 pandemic. The transition to mainly homeworking combined with offices used as hubs for collaboration, training and wellbeing needs has proved very successful. Our hybrid operating model has brought improved resilience, security, virtual collaboration and a demonstrably scalable, future proof business that continues to service clients and support them through challenging times and into the future.
People are key to the success of the Group and it is proud to be able to provide opportunities to talented people across the UK, Bosnia Herzegovina and since 2022 Serbia who are looking for a career and a new challenge working with the DDC group.
Turnover decreased by 12% to £39,049,829 (2023: £44,775,328).
Gross profit was 28.7% (2023: 29.1%) with the reduction due to a tightening of margins and general cost inflation.
Administrative expenses are 21.6% of turnover (2023: 20.2%).
The Group strives for best operating practice by achieving industry standard organisation accreditations ('ISO'). At the end of 31 December 2024 the Group held 5 ISO accreditations (2023 : 5 held).
The Group achieved 4 industry awards during the year (2023 - 4 awards). The awards received were as follows: OA 500: Top 500 Outsources ranking; UK Contact Centre Forum Gold; UK Contact Centre Forum Highly Commended; and Foreign Trade Chamber of Bosnia and Herzegovina Best Exporter, Large Companies, Service Sector.
Gross profit was 28.7% (2023: 29.1%) with the reduction due to a tightening of margins and general cost inflation.
Administrative expenses are 21.6% of turnover (2023: 20.2%).
The Group strives for best operating practice by achieving industry standard organisation accreditations ('ISO'). At the end of 31 December 2024 the Group held 5 ISO accreditations (2023 : 5 held).
The Group achieved 4 industry awards during the year (2023 - 4 awards). The awards received were as follows: OA 500: Top 500 Outsources ranking; UK Contact Centre Forum Gold; UK Contact Centre Forum Highly Commended; and Foreign Trade Chamber of Bosnia and Herzegovina Best Exporter, Large Companies, Service Sector.
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DDC OUTSOURCING SOLUTIONS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Competitor risk - Like any business we are exposed to competitor risk. We mitigate this risk by providing creative, value for money solutions for our customers.
Economic risk - The risk and uncertainty in the economy caused by national and international pressures and the continuing war in Ukraine are concerns which we continue to monitor.
Credit risk - The risk of customer default is minimised by ensuring that extended credit terms are only provided to customers who can demonstrate sufficient credit worthiness.
Liquidity risk - The risk that the Group will be unable to meet its financial obligations when they fall due is minimised by the Group’s holding of cash reserves.
Currency risk - Exposure to exchange rate fluctuations is minimised by as far as possible matching foreign currency receipts and payments and undertaking appropriate hedging.
Economic risk - The risk and uncertainty in the economy caused by national and international pressures and the continuing war in Ukraine are concerns which we continue to monitor.
Credit risk - The risk of customer default is minimised by ensuring that extended credit terms are only provided to customers who can demonstrate sufficient credit worthiness.
Liquidity risk - The risk that the Group will be unable to meet its financial obligations when they fall due is minimised by the Group’s holding of cash reserves.
Currency risk - Exposure to exchange rate fluctuations is minimised by as far as possible matching foreign currency receipts and payments and undertaking appropriate hedging.
The Company and Group has considered the level of funds held and the expected levels of cash inflows and outflows for 12 months from the date of authorising these financial statements. It is on this basis that the directors are of the view that it is appropriate for the financial statements to be prepared on a going concern basis.
Stakeholder Engagement – As the Board of Directors of the Group, we have a legal responsibility under section 172 of the Companies Act 2006 to act in a way we consider, in good faith, would be most likely to promote the Group’s success for the benefit of its members as a whole and to have regard to the long-term effect of our decisions on the Group and its stakeholders. This statement addresses the ways in which we as a Board satisfy this responsibility.
Promoting the Group’s success for its members – The Group traces its origins back to 1987 when DDC Outsourcing Solutions Limited was established and it continues to be operated as a privately owned and operated business today. The Group has operated prudently throughout this period funded by its retained profits and has grown mainly organically using astute management and adapting to change.
Engaging with stakeholders – Our key stakeholders, and the ways in which we engage with them, are as follows:
Employees – We are a people powered business and our employees are key to the continuing success of the Group. Recruitment and retention of our workforce at all levels is critical to our success. We engage with our staff by:
• Setting remuneration at competitive rates
• Providing structured training and development, including appropriate apprenticeships
• Providing employee benefits including company pension scheme and death in service cover
• Providing employees with physical and mental wellbeing support
• Recognising employees for demonstrating our company values through our DDC Value Awards scheme.
Customers and Suppliers – Our strategic goal is to provide the highest level of service we can to our customers. The Group’s business is built on strong and enduring relationships with our customers for whom we provide valuable business solutions. Our suppliers are selected carefully and are expected to provide the same high standards of service, ethics and moral fairness which we adopt ourselves.
Promoting the Group’s success for its members – The Group traces its origins back to 1987 when DDC Outsourcing Solutions Limited was established and it continues to be operated as a privately owned and operated business today. The Group has operated prudently throughout this period funded by its retained profits and has grown mainly organically using astute management and adapting to change.
Engaging with stakeholders – Our key stakeholders, and the ways in which we engage with them, are as follows:
Employees – We are a people powered business and our employees are key to the continuing success of the Group. Recruitment and retention of our workforce at all levels is critical to our success. We engage with our staff by:
• Setting remuneration at competitive rates
• Providing structured training and development, including appropriate apprenticeships
• Providing employee benefits including company pension scheme and death in service cover
• Providing employees with physical and mental wellbeing support
• Recognising employees for demonstrating our company values through our DDC Value Awards scheme.
Customers and Suppliers – Our strategic goal is to provide the highest level of service we can to our customers. The Group’s business is built on strong and enduring relationships with our customers for whom we provide valuable business solutions. Our suppliers are selected carefully and are expected to provide the same high standards of service, ethics and moral fairness which we adopt ourselves.
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DDC OUTSOURCING SOLUTIONS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
At the balance sheet date we have achieved and hold the following industry recognised standards:
• ISO 9001 – quality management systems
• ISO 14001 – environmental management systems (UK only)
• ISO 31000 – risk management
• ISO 22301 – business continuity management systems
• ISO 27001 – information security management systems
• Cyber Essentials Plus – cyber security and risk mitigation
Environment – We recognise the importance of environmental protection and are committed to operating responsibly and fulfilling our compliance obligations. It is our objective to carry out all measures reasonably practicable to meet, exceed or develop all necessary or desirable requirements to protect the environment. Some examples of positive actions to protect the environment are listed below:
• Our adoption of hybrid working results in less commuting by our staff.
• We promote waste minimisation and recycling in our premises and encourage energy efficiency.
• We have replaced the lighting at our UK facility with energy efficient LED solutions and have also
upgraded the heating system by installing a more fuel-efficient boiler and have also installed electric
vehicle charging points.
• In our other locations, our facilities are compliant with local energy efficiency standards.
Community – We recognise the importance of supporting the communities in which we operate. As a key employer in these areas, we are committed to making a positive social impact beyond the workplace. We actively contribute to local initiatives and charitable causes, reflecting our values and dedication to community wellbeing.
Some highlights from the past 12 months include, supporting the Paraplegic Association of Bosnia and Herzegovina, with a donation. We also donated over 113kg of food and household essentials to Bassetlaw Foodbank, supporting local families in need. Our UK team participated in a Christmas Jumper Day to raise funds for The Elm Foundation, a domestic abuse charity. We supported the Mental Health Foundation through employee donations and awareness initiatives. Our Bosnia team took part in the Race for the Cure in Sarajevo, raising funds for women’s health. We donated computers to local elementary and secondary schools and institutions to support their educational needs. We also continue to work with cancer charities every year and raise funds by attending local events.
• ISO 9001 – quality management systems
• ISO 14001 – environmental management systems (UK only)
• ISO 31000 – risk management
• ISO 22301 – business continuity management systems
• ISO 27001 – information security management systems
• Cyber Essentials Plus – cyber security and risk mitigation
Environment – We recognise the importance of environmental protection and are committed to operating responsibly and fulfilling our compliance obligations. It is our objective to carry out all measures reasonably practicable to meet, exceed or develop all necessary or desirable requirements to protect the environment. Some examples of positive actions to protect the environment are listed below:
• Our adoption of hybrid working results in less commuting by our staff.
• We promote waste minimisation and recycling in our premises and encourage energy efficiency.
• We have replaced the lighting at our UK facility with energy efficient LED solutions and have also
upgraded the heating system by installing a more fuel-efficient boiler and have also installed electric
vehicle charging points.
• In our other locations, our facilities are compliant with local energy efficiency standards.
Community – We recognise the importance of supporting the communities in which we operate. As a key employer in these areas, we are committed to making a positive social impact beyond the workplace. We actively contribute to local initiatives and charitable causes, reflecting our values and dedication to community wellbeing.
Some highlights from the past 12 months include, supporting the Paraplegic Association of Bosnia and Herzegovina, with a donation. We also donated over 113kg of food and household essentials to Bassetlaw Foodbank, supporting local families in need. Our UK team participated in a Christmas Jumper Day to raise funds for The Elm Foundation, a domestic abuse charity. We supported the Mental Health Foundation through employee donations and awareness initiatives. Our Bosnia team took part in the Race for the Cure in Sarajevo, raising funds for women’s health. We donated computers to local elementary and secondary schools and institutions to support their educational needs. We also continue to work with cancer charities every year and raise funds by attending local events.
This report was approved by the board on 30 September 2025 and signed on its behalf.
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DDC OUTSOURCING SOLUTIONS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present their report and the financial statements for the year ended 31 December 2024.
The profit for the year, after taxation and minority interests, amounted to £1,881,558 (2023 - £2,395,449).
The directors who served during the year were:
N Akhauri was appointed as a director on 21 January 2025.
The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
During the year the Group has provided employees systematically with information on matters of concern to them as employees.
The Group has consulted employees or their representatives on a regular basis so that the views of employees can be taken into account in making decisions which are likely to affect their interests.
The Group has consulted employees or their representatives on a regular basis so that the views of employees can be taken into account in making decisions which are likely to affect their interests.
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DDC OUTSOURCING SOLUTIONS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Group policy provides that existing employees who become disabled shall continue employment with the Group if at all possible, subject to any appropriate training.
Training, career development and promotion apply equally to all employees, taking into consideration their aptitudes and abilities.
Intensity ratio calculated as tco2e/£turnover.
There are a number of ways of making our business as energy efficent as possible:
∙the UK head office has energy efficient LED lights installed throughout,
∙employees are encouraged to car share when travelling,
∙the hybrid approach to working reduces the number of miles travelled by employees commuting,
∙we continue to promote waste minimisation and recycling in our offices,
∙had a new boiler installed in the UK for the heating system which is more energy efficient that the old one.
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DDC OUTSOURCING SOLUTIONS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The auditors, Shorts, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on 30 September 2025 and signed on its behalf.
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DDC OUTSOURCING SOLUTIONS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DDC OUTSOURCING SOLUTIONS LIMITED
We have audited the financial statements of DDC Outsourcing Solutions Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2024, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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DDC OUTSOURCING SOLUTIONS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DDC OUTSOURCING SOLUTIONS LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report.
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DDC OUTSOURCING SOLUTIONS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DDC OUTSOURCING SOLUTIONS LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
∙the engagement team collectively had the appropriate compettence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
∙through discussions with the directors and other management and from our commercial knowledge and experience of the sectors that the Group operates in, we identified the laws and regulations applicable to the Group; and
∙focusing on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Group, we assessed the extent of compliance with those laws and regulations identified above through making enquiries of management and inspecting relevant correspondence.
We assessed the susceptibility of the Group's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
∙making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
∙considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
∙performed analytical procedures to identify any unusual or unexpected relationships;
∙considered journal entries to identify unusual transactions;
∙assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
∙investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
∙agreeing financial statements disclosures to underlying supporting documentation;
∙reading minutes of those charged with governance;
∙enquiring of management as to actual and potential litigation and claims; and
∙considering any correspondence with HMRC, relevant regulators and the Group's legal advisors.
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DDC OUTSOURCING SOLUTIONS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DDC OUTSOURCING SOLUTIONS LIMITED (CONTINUED)
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect that those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditor
2 Ashgate Road
S40 4AA
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DDC OUTSOURCING SOLUTIONS LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
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DDC OUTSOURCING SOLUTIONS LIMITED
REGISTERED NUMBER: 02151319
CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 September 2025.
The notes on pages 18 to 34 form part of these financial statements.
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DDC OUTSOURCING SOLUTIONS LIMITED
REGISTERED NUMBER: 02151319
COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 September 2025 .
The notes on pages 18 to 34 form part of these financial statements.
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DDC OUTSOURCING SOLUTIONS LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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DDC OUTSOURCING SOLUTIONS LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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DDC OUTSOURCING SOLUTIONS LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
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DDC OUTSOURCING SOLUTIONS LIMITED
CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 DECEMBER 2024
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DDC OUTSOURCING SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The Company is a private company limited by shares, registered in England and Wales with registered number 02151319. The address of the registered office is The Data Solutions Centre, Manton Wood Enterprise Park, Worksop, S80 2RT. The principal activity of the Company and Group continued to be that of providing business process outsourcing solutions.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the Group's accounting policies (see note 3).
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.
The Company and Group has considered the level of funds held and the expected levels of cash
inflows and outflows for 12 months from the date of authorising these financial statements. It is on
this basis that the directors are of the view that it is appropriate for the financial statements to be
prepared on a going concern basis.
inflows and outflows for 12 months from the date of authorising these financial statements. It is on
this basis that the directors are of the view that it is appropriate for the financial statements to be
prepared on a going concern basis.
Non-controlling interest is defined as the equity in a subsidiary not attributable, directly or indirectly, to a parent. It is reported as part of equity of the consolidated group, recorded separately from the parent's interests to distinguish it from other components of equity.
It is measured at each reporting date as: the non-controlling interest's share in the identifiable net assets at the date of the original combination; and the non-controlling interest's share of changes in equity since the date of the combination.
It is measured at each reporting date as: the non-controlling interest's share in the identifiable net assets at the date of the original combination; and the non-controlling interest's share of changes in equity since the date of the combination.
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DDC OUTSOURCING SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Functional and presentation currency
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DDC OUTSOURCING SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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DDC OUTSOURCING SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Goodwill
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
The Group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
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DDC OUTSOURCING SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an 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.
Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an 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.
The useful economic life of the goodwill arising on consolidation resulting from the acquisition of subsidiaries.
The useful economic lives and residual values of fixed assets, which have been calculated by the directors based on their experience of the industry.
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DDC OUTSOURCING SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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DDC OUTSOURCING SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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DDC OUTSOURCING SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The exceptional item noted in the prior year represents accelerated amortisation of the goodwill relating to DDC Multilingual Services d.o.o. Sarajevo at 31 December 2023. The decision has been made by the directors in light of the reduced levels of profitability in respect of DDC Multilingual Services d.o.o. Sarajevo.
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DDC OUTSOURCING SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
12.Taxation (continued)
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DDC OUTSOURCING SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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DDC OUTSOURCING SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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DDC OUTSOURCING SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
15.Tangible fixed assets (continued)
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Page 29
DDC OUTSOURCING SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Page 30
DDC OUTSOURCING SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 31
DDC OUTSOURCING SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Page 32
DDC OUTSOURCING SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £152,607 (2023: £164,471). Contributions totalling £37,829 (2023: £nil) were payable to the fund at the reporting date and are included in creditors.
Page 33
DDC OUTSOURCING SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The ultimate controlling party is Wallingford Limited, incorporated and registered in the Isle of Man with Company number 111118C whose registered office is at 3rd Floor, Analyst House, Peel Road, Douglas, IM1 4LZ.
Page 34