Minerva Equity Limited - 31 March 2019 Final 19.08.2019 - Flipbook - Page 39
Minerva Equity Limited (formerly DMWSL 881 Limited)
Notes to the financial statements
for the period ended 31 March 2019 (continued)
4 Critical accounting judgements and estimation uncertainty (continued)
Critical accounting estimates and assumptions (continued)
Amounts recoverable on contract provisioning
The Company provides support services to blue-chip clients in the infrastructure sectors in the UK
and typically via framework contracts. Consistent with its revenue recognition policy, the Company
makes an estimate of the recoverable value and makes a provision for any known or anticipated
losses. See note 16 for the net carrying amount of amounts recoverable on contracts.
Estimates of accruals for future remedial work
Consistent with its revenue recognition policy, the company estimates maintenance accruals using
its knowledge of likely failure rates. The value is monitored on an ongoing basis.
Revenue recognition
The company has pain/gain mechanisms built into its revenue contracts as explained in the
accounting policies. Whether and at what amount the pain or gain is to be recognised will depend on
the expertise within the Company to judge the uncertainties and make the required estimations.
5 Turnover
At 31 March 2019, the Group has four classes of business – utilities, telecoms, data and transport.
The Group provides repair and maintenance, refurbishment, enhancement and data services to bluechip clients in essential infrastructure sectors.
By geographical origin
Turnover related to activities in the United Kingdom was £803.7 million and Ireland £1.6 million.
6 Segmental information
By category
Turnover
Period ended
31 March 2019
£m
Utilities (gas, water, electricity)
455.9
Telecoms
148.2
Transport (rail, airports, highways)
108.4
Data (data collection & management)
Total turnover
92.8
805.3
37