NDA Annual Report and Accounts 2019 to 2020

NDA Annual Report and Accounts 2019 to 2020

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My responsibility is to audit and report on the financial statements in accordance with the Energy Act 2004. Stores losses reported in 2020 includes the write off of chemicals purchased for use in the Thorp reprocessing plant at Sellafield, https://www.archyde.com/how-do-bookkeeping-and-accounting-services-affect-the-finances-of-real-estate-companies/ and no longer required following the conclusion of reprocessing activity at the plant in 2019 (value £916,418). The nuclear provision is the best estimate of how much our mission will cost over approximately 120 years.

  • We continue to work closely with Ernst and Young, our chosen partners for IR35 auditing and supporting our IR35 checks with assured compliance.
  • Note the figures in the above graph are prepared on the basis of government financial reporting (HM Treasury’s Consolidated Budgeting Guidance) which differs in part from the basis used to prepare the financial statements.
  • One of the reprocessing plants has already shut and the Magnox reprocessing plant is due to complete its mission in 2020.
  • The importance of our work and progress was reflected in the Government’s one year spending round, with agreed funding levels accounting for our planned increase in decommissioning activity and expected reduction in commercial revenue.
  • The graph shows the undiscounted expenditure profile for future years (excluding NDA administrative and other non-programme costs, and some commercial costs) from lifetime cost projections from each of the site licence companies.

The long-term nature of our business means that delivery this year is a stepping stone for future years. Our ability to deliver risk and hazard reduction tomorrow relies on our ability to become a more efficient organisation today. Managing the large quantities of radioactive waste from electricity generation, research, the early defence programme and decommissioning is one of the NDA’s biggest challenges. Some of this radioactive waste is in a raw form, some has been treated and is being real estate bookkeeping interim-stored and, in the case of low level waste, some has been disposed of. Our strategy considers how we manage all forms of waste arising from operating and decommissioning our sites, including waste retrieved from Legacy facilities. Within the constraints of affordability, we seek to deliver best value for the UK taxpayer by focusing on reducing the highest hazards and risks, while ensuring that safe, secure and environmentally responsible operations at our sites are maintained.

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This should improve the quality and consistency of group-wide arrangements and also further support our overall visibility, understanding and ongoing improvement in matters of corporate governance, risk management and internal control. Particular focus has been given to the roll-out and embedding of our code of conduct and review and update of our delegated authorities during the year. Alongside these developments, our Audit and Risk Assurance Committee is strengthening relationships and arrangements with the group’s supporting Audit and Oversight Committees at the subsidiaries and site licence companies. This view is based on the work of internal audit, including oversight of the various assurance activities undertaken by the NDA, its subsidiaries and site licence companies and through engagement with the Internal Audit functions of the businesses.

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We don’t review advisor listings and we don’t recommend or guarantee the service provided by any one advisor, so make sure you check them out yourself and get comfortable with them yourself. Must have experience in retail https://www.globalvillagespace.com/GVS-US/main-features-of-bookkeeping-and-accounting-in-the-real-estate-industry/ and commercial banking, as well as SEPA Payment Process. Cost estimate changes reflect updated assumptions on the scope and cost of the work required to achieve the Dounreay interim end state and to deliver the GDF.

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This work directly supports the UK Government’s Cyber Security strategy, building the pool of talent necessary to protect the UK from cyber attack and cyber crime. The facility was funded through the NDA’s Cyber Security and Resilience Project and forms part of the NDA cyber programme. The state-of-the-art facility, based at Energus, in Cumbria, has been specially designed to train the next generation of cyber experts. The next generation of cyber security professionals are benefiting from one of the UK’s first Cyber Lab classrooms, funded by the NDA. More details on the recruitment and development of our people can be found in our Remuneration and People Report. Our focus is on developing a high-performing organisation that is committed to continuous improvement in all that we do.

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