Annual Report and Accounts 
30 September 2013
Electronic Data Processing PLC 2013
Electronic Data Processing PLC Annual Report and Accounts 2013 Electronic Data Processing PLC annual report and accounts 2011 4
About EDP
Electronic Data Processing PLC is a leading supplier 
of advanced technology Software Solutions. These 
include ERP solutions for the Merchanting/Wholesale 
Distribution Industry, e-business, application hosting 
and Sales Intelligence Solutions together with 
a comprehensive range of customer support 
and education services. 
Our values
>  
We believe in conducting our business 
activities with integrity, building mutually 
beneficial long-term relationships with all  
our customers, providing the highest levels 
of professional service at every stage.
>  
We are committed to delivering superior value 
in our products and services to our customers, 
on a continuing basis.
>  
We respect the individuality of each member 
of our staff, fostering an environment where 
creativity and productivity are encouraged, 
valued and rewarded.
>  
We are dedicated to creating value for 
shareholders by performing in a manner 
which will enhance return on investment.
Electronic Data Processing PLC is incorporated in England and Wales under Registration Number 853560 Electronic Data Processing PLC Annual Report and Accounts 2013 1
Strategic report Governance Financial statements
Key Highlights
In this report Visit us online
More information 
for investors, 
including reports, 
announcements  
and notices, at  
www.edp.co.uk
>  Overall turnover steady at £5.83 million (2012: £5.81 million)
> Sales of core software and services up 3%
>  Contracted recurring revenues remain strong 
representing 77% of total revenue (2012: 76%)
>  Hosting revenues continue to increase further and 
now represent 48% of total revenues (2012: 43%) 
demonstrating the success of our strategy to grow 
the hosting/cloud side of the business
>  Adjusted operating profit £835,000 (2012: £820,000), 
gives an operating margin of 14.3% (2012: 14.1%)
>  Pre-tax profit up 3.6% to £794,000 (2012: £766,000 
excluding reduction in property valuation)
>  Sale of surplus freehold property in Bellshill, Glasgow 
completed in December 2012 for £440,000 cash 
net of disposal costs
>  Continuing commitment to R&D expenditure of £940,000 
in the year (2012: £914,000)
>  Strong debt-free balance sheet; cash balances of 
£5.67 million at 30 September 2013 (2012: £5.65 million) 
will be used to further develop the business
>  5p special interim dividend returned £626,000 
to shareholders during the year
>  Final dividend maintained at 2.0p per share, making 7.0p 
for the full year (2012: 2.713p)
Strategic report
1 Key Highlights
2 Chairman’s Statement
3 Chief Executive’s Statement
5 Key Performance Indicators
6 Principal Risks and Uncertainties
7  Environmental, Employee, Social, Community 
and Human Rights Matters
Governance
9 Directors and Advisers
10 Directors’ Report
12 Corporate Governance
15 Audit Committee Report
16 Directors’ Remuneration Report
26 Statement of Directors’ Responsibilities
Financial statements
27 Independent Auditor’s Report
30 Consolidated Income Statement
30  Consolidated Statement 
of Comprehensive Income
31 Consolidated Balance Sheet
32  Consolidated Statement of Changes in Equity 
33 Consolidated Cash Flow Statement
34  Notes to the Consolidated Financial Statements 
49 Company Balance Sheet
50  Notes to the Company Financial Statements 
58 Five Year Statistical Record Electronic Data Processing PLC Annual Report and Accounts 2013 2
Chairman’s Statement
Sir Michael Heller
Turnover for the year to 30 September 2013 
remained steady at £5.83 million compared 
with £5.81 million the previous year. Sales 
of our core software and services increased 
by 3%.
Adjusted operating profit was £835,000 
(2012: £820,000) representing an operating 
margin of 14.3% (2012: 14.1%). This 
underlying cash-based measure of our 
performance excludes non-cash IFRS 
charges and credits. 
Pre-tax profit for the year on a statutory 
basis was £794,000. This compares with a 
loss in the previous year of £83,000 after the 
write-down of property values of £849,000.
We have seen some recent improvement in 
business confidence. However, this remains 
fragile and businesses in the sectors we 
address continue to face a mixed picture. 
Our hosting revenues have continued to 
grow and now represent almost half of our 
total revenues. Contracted recurring revenues, 
which include annual software licence fees 
and hosting charges, amounted to 77% 
of total revenue compared with 76% in the 
previous year. Total R&D expenditure was 
£940,000 (2012: £914,000) which is principally 
focused on the continued enhancement 
of our latest software products Quantum VS 
and Vecta.
We reported last year that we had 
accepted offers on two of our freehold 
properties which were surplus to requirements. 
We completed the sale of one of these 
properties in December 2012 for £440,000 
cash net of disposal costs. The carrying value 
of the property had been adjusted to reflect the 
expected net proceeds at 30 September 2012 
and accordingly the sale resulted in neither 
a profit nor a loss. 
The agreed sale of the other property is 
still proceeding, albeit more slowly than we 
would like, whilst the purchaser is engaged 
in a detailed planning process. This property 
is included in the Group balance sheet at 
£1.42 million which represents the expected 
net sale proceeds. We will report any further 
progress in due course.
We have one further surplus freehold 
property which is currently being marketed 
for sale and which is included in the Group 
balance sheet at £307,000.
Year end cash balances were £5.67 million 
(2012: £5.65 million). In view of our relatively 
large cash balances, we paid a special 
interim dividend of 5p per share in August 
in lieu of the usual interim dividend of 0.713p. 
We continue to look at opportunities to 
acquire similar software producing businesses. 
However, we will review future dividends 
according to the opportunities that arise 
and our overall cash position at the time.
Net assets at 30 September 2013 reduced 
marginally to £6.1 million from £6.3 million 
reflecting the impact of the special interim 
dividend discussed above.
The Board is proposing to maintain the final 
dividend at 2.0p per share giving a total for 
the year of 7.0p (2012: 2.713p). If approved 
by shareholders, the final dividend will be 
paid on 7 April 2014 to those shareholders 
on the register at 7 March 2014. The shares 
will be ex-dividend on 5 March 2014.
As always I would like to thank all our 
members of staff and my colleagues on the 
Board for their contribution during the year.
Whilst there are signs of increased confidence 
in the markets we address, this remains 
patchy and many businesses still retain a 
degree of caution when assessing significant 
IT expenditure decisions. However, with 
our attractive product offering and financial 
strength we are well placed for the future.
Sir Michael Heller
Chairman
16 December 2013
Summary
• Adjusted operating profit was £835,000
(2012: £820,000) representing an operating
margin of 14.3% (2012: 14.1%)
• Our hosting revenues have continued
to grow and now represent almost half
of our total revenues
• The Board is proposing to maintain the
final dividend at 2.0p per share giving a
total for the year of 7.0p (2012: 2.713p)
Turnover for the year 
to 30 September 2013 
remained steady at 
£5.83 million compared 
with £5.81 million the 
previous year. Sales of 
our core software and 
services increased by 3%. Electronic Data Processing PLC Annual Report and Accounts 2013 3
Strategic report Governance Financial statements
Chief Executive’s Statement
Julian Wassell
Overall turnover for the year to 
30 September 2013 was £5.83 million. 
Core revenues from the sale of software and 
services increased by 3% to £5.62 million. 
This was partly offset by a reduction in 
hardware and related maintenance revenue 
of approximately £130,000.
These results reflect the success of 
our strategy in growing the hosting/cloud 
computing side of the business. As customers 
now require much lower investment in their 
own on-site computer equipment, this has 
had the expected effect of reducing the 
amount of relatively low margin computer 
hardware that we sell.
Whilst we have seen some improvement in 
business confidence, with a resultant increase 
in sales activity levels, price competition 
remains keen in our market place.
Business model
Our business model revolves around 
supplying our software products under 
long-term contracts either in the form of 
traditional on-site licences arrangements or 
cloud-based, hosted service level agreements. 
These long-term agreements provide us with 
good visibility of revenues from our existing 
customers for up to five years. Recurring 
revenues contracted under such agreements 
represent 77% of our total revenues in the 
year under review.
The business is structured such that, 
broadly speaking, these recurring revenues 
cover our day to day cash operating costs 
including product R&D which increased to 
£940,000 from £914,000 during the year.
The remainder of our revenues are derived 
from our initial software licence fees, hosting 
joining fees and the provision of professional 
services and consultancy. In addition, we 
supply a small amount of computer hardware 
and maintenance to certain customers.
The trend towards stronger ongoing revenues 
and away from the more traditional up-front 
licence fees, as we see more of our revenues 
derived from the Cloud/SaaS model, has 
continued at a moderate pace during the 
year. This has the impact of reducing the 
amount we receive up front but strengthens 
our ongoing revenues over the longer term.
One of our principal strengths is our lack 
of dependence on any single customer. 
Our largest customer represents 5% of 
turnover and our 10 largest represent 30%.
Our business model is robust; we manage 
our cost base prudently, and monitor working 
capital carefully. The impact of bad debts 
during the year has continued to be low.
Strategy
We deliver software solutions that offer 
clear business benefits, assisting our 
customers to generate sales growth or to 
create efficiencies and drive down costs 
in their business.
Our strategy over recent years has been 
to increase the number of customers who 
receive their software through the Cloud, 
and we have been doing so for 13 years 
from our hosting centre in Milton Keynes, 
thereby strengthening our commitment 
to our customers and vice versa.
We have two main product groups – 
software applications for distributors and 
merchants, where Quantum VS is our latest 
product; and Vecta, our market-leading 
Sales Intelligence product. 
The products are complementary with many 
of our customers using both. Whilst Quantum 
focuses on a number of discrete sectors 
within distribution, Vecta has a wider target 
market across a broader range of verticals.
Quantum VS provides the core of our 
customers’ business processes and as 
such it is a more “sticky” product once 
implemented. The product and market are 
characterised by long relationships with 
customers but also lengthy sales cycles 
which typically, and in common with other 
suppliers of similar applications, can be 
over 12 months.
Vecta balances this with much shorter sales 
cycles, sometimes measured in weeks, and 
shorter implementation times. However, 
customer churn can be greater as the 
product is less “sticky”.
Quantum VS
Quantum VS is a graphical software 
application focused on a number of vertical 
markets within the distribution sector including:
• builders and timber merchants
• suppliers of fixings and fastenings
• industrial and security products
• electrical wholesalers
• food distributors
Summary
• Core revenues from the sale of
software and services increased by 3%
to £5.62 million
• Recurring revenues contracted under
long-term agreements represent 77% of
our total revenues in the year under review
• The number of hosted customers has
increased to 172 at 30 September 2013
from 136 a year earlier
• Our cash balances at 30 September 2013
were £5.67 million (2012: £5.65 million)
We deliver software 
solutions that offer clear 
business benefits, assisting 
our customers to generate 
sales growth or to create 
efficiencies and drive down 
costs in their business. Electronic Data Processing PLC Annual Report and Accounts 2013 4
“ As part of our continued drive to enhance the capability 
of Quantum VS we have recently released a new WMS 
module which will allow users to introduce significant 
efficiencies within their warehousing operations.”
Strategy continued
Our strategy has been and remains to develop 
a single software application which provides:
• primarily, a clear upgrade path for our
existing customers by bringing into this
single product the key functionality from
our established distribution applications
– Merchant, Charisma, Esprit and
The Business Programme;
• a software application to exploit new
business opportunities in the markets we
address, using a system architecture which
provides agility and allows integration
of customer-developed applications and
third-party products which fulfil specific
requirements which are non-core to
Quantum VS; and
• a platform for continued enhancements
in functionality.
As part of our continued drive to enhance 
the capability of Quantum VS we have 
recently released a new WMS (Warehouse 
Management System) module which will allow 
users to introduce significant efficiencies 
within their warehousing operations. 
Following consultation with our customers 
we are also introducing purchasing 
management and forecasting capabilities 
into Quantum VS. This will allow users to 
address one of the major issues facing their 
businesses by allowing them to address 
inventory management, reduce stock levels, 
improve customer service and free up 
working capital.
The roll-out of Quantum VS among our 
existing customers has continued during 
the year in line with our expectations and 
we currently have a three month lead time 
for new implementations. We are working 
with our customers to manage the migration 
to Quantum at a pace that suits them.
Vecta
Vecta is a powerful Sales Intelligence 
software tool which assists businesses 
to drive sales. 
Vecta is delivered solely through the 
browser which enables it to be used on a 
wide variety of devices, whether desktop 
or mobile. 
More recently our strategy has been to 
extend Vecta’s CRM capabilities, further 
broadening its appeal. Our aim is to provide 
a single software product that will fulfil all the 
CRM and sales intelligence requirements of 
a broad range of businesses without the need 
for a separate third-party CRM solution.
We have also released Vecta in multi-language 
format during the year. This is significant 
because whilst in many cases management 
will use English for business purposes, 
other users may prefer or need to use their 
native language. Accordingly the language 
used can be set at the individual user level 
so that, for example, senior management or 
head office staff may use Vecta in English 
whilst sales and customer service staff 
use Vecta in their native language. 
These new features have enabled us to 
implement Vecta at a number of substantial 
European businesses.
Hosting/cloud computing
The number of hosted customers has 
increased to 172 at 30 September 2013 
from 136 a year earlier. Hosting now 
represents 48% of our revenues and the 
following graph illustrates the increasing 
proportion of our revenues which are 
hosted over the last 8 years:
The concept of remote computing through 
the cloud has been widely accepted by 
business. The fact that we offer the facility 
from our own purpose built hosting centre 
means that our customers have a single IT 
provider looking after their software, hardware 
and operating system requirements – 
the traditional one-stop-shop. 
Financial review
Turnover for the year was £5.83 million 
compared with £5.81 million in the previous 
year. The proportion of revenues which are 
recurring increased slightly to 77% from 76%. 
Adjusted operating profit, which is the 
measure used to monitor the business on 
a day to day basis, increased to £835,000 
from £820,000 giving an improved operating 
margin of 14.3% compared with 14.1%. 
Adjusted operating profit is calculated 
after adding back a net charge of £126,000 
(2012: £132,000) relating to a number of 
non-cash items which arise under IFRS; 
principally amortisation of intangible assets, 
defined benefit pension scheme charges 
and the capitalisation and amortisation 
of development costs. 
Our statutory profit before tax of £794,000 
compares to a loss of £83,000 last year. The 
previous year’s result included a write-down 
in property values of £849,000. Excluding 
these property related items, pre-tax profits 
in the prior period would have been £766,000 
and accordingly on this basis, statutory 
pre-tax profit has increased by 3.6%.
Our total R&D expenditure increased 
to £940,000 (2012: £914,000) of which 
£118,000 was capitalised as required by 
IAS 38. The remainder has been expensed 
in the income statement.
Chief Executive’s Statement continued
Julian Wassell
0%
20%
40%
60%
80%
100%
2006
11%
2007
16%
84% 89%
2008
19%
81%
2009
23%
77%
2010
30%
70%
2011
34%
66%
2012
43%
57%
2013
48%
52%
Hosted Non-hosted
Hosted vs non-hosted revenues Electronic Data Processing PLC Annual Report and Accounts 2013 5
Strategic report Governance Financial statements
Interest income was £85,000 compared 
with £78,000 last year.
The tax charge for the year was £207,000 
(2012: £26,000 credit). This gave an effective 
tax rate of 26% on a pre-tax profit of £794,000, 
which is higher than the standard rate of 
UK corporation tax due to the impact of 
a reduction in the rate used to calculate 
our net deferred tax asset.
Earnings per share amounted to 4.68p 
(4.63p on a fully diluted basis) compared to 
a loss per share of 0.45p last year. However, 
adjusting for the write-down in property 
values referred to above gave an underlying 
EPS of 4.66p last year.
Our cash balances at 30 September 2013 
were £5.67 million (2012: £5.65 million). 
Operating cash flows were £890,000, 
compared with £1.179 million, reflecting a 
change in some billing profiles. In addition 
we received £440,000 from the sale of our 
freehold property in December 2012 and 
£98,000 in interest on our cash deposits. 
In addition to the regular 2012 final dividend 
of £251,000 paid during the year, we paid 
a special interim dividend amounting to 
£626,000, thereby returning £877,000 to 
shareholders. Other significant cash 
outflows were £173,000 corporation tax 
and £235,000 of capital expenditure.
The position on the Group’s defined benefit 
pension scheme improved by £76,000 
(£27,000 net of deferred tax). The Group 
balance sheet reflects a gross liability in 
respect of this scheme of £1.044 million 
(£835,000 net of deferred tax). We reported 
last year that we were reviewing the future 
direction of this scheme and we are currently 
in the process of consulting with members 
regarding the closure of the scheme to 
future accrual. We expect to report further 
progress to shareholders in due course.
Net assets reduced slightly to £6.15 million 
from £6.27 million reflecting, inter alia, the 
special interim dividend referred to above. 
Net assets per share amounted to 49.1p 
(2012: 50.0p).
Property
In December 2012 we completed the sale 
of our surplus freehold property in Bellshill, 
Scotland for £440,000 net of costs. This 
disposal has generated annual cost savings 
of £35,000.
We now have three freehold properties 
including our hosting centre in Milton Keynes. 
The other two properties are not required 
for operational purposes.
We reported last year that we had accepted 
an offer on the larger of these two properties 
which is reflected in the Group balance 
sheet at its expected net sale proceeds of 
£1.42 million and categorised as an asset 
held for sale. The sale involves a planning 
application for change of use and this process 
is still underway. The disposal will generate 
cost savings of around £70,000 a year. We will 
update shareholders on these transactions 
in due course.
The remaining property is included in fixed 
assets at a value of £307,000.
Outlook
Trading conditions since the year end have 
been consistent with those experienced during 
the year under review, although there have 
been more recent signs of an increase in 
confidence. We expect business sentiment 
to remain one of cautious optimism for the 
time being and for price competition to remain 
keen. We have an extremely robust business 
model and considerable financial strength 
which will enable us to take advantage 
of those opportunities which do arise.
Finally, I would like to thank all of my 
colleagues throughout the business for their 
hard work and commitment during the year.
Julian Wassell
Chief Executive
16 December 2013
“ New features have enabled us to 
implement Vecta at a number of 
substantial European businesses.”
Key Performance 
Indicators
The following 
financial KPIs 
are used by the 
Board to review 
the performance 
of the business:
Level of software 
and service revenues
Revenue from software and 
services grew by 3% in FY13.
Sales of software and services account 
for 96% of total Group revenues in 
FY13, with the remainder comprising 
low margin hardware sales and 
hardware maintenance.
Operating profit margin
Our operating margin was 14.3% in 
FY13 compared with 14.1% in FY12.
Operating margin is calculated using 
operating profit excluding certain 
non-cash IFRS adjustments relating 
to amortisation of intangible assets, 
defined benefit pension scheme 
charges and capitalisation/amortisation 
of development costs. 
Level of contracted 
recurring revenues
Recurring revenues represent 77% 
of total revenues in FY13 up from 
76% in FY12.
Recurring revenues underpin our 
business model and principally comprise 
contracted ongoing software licences 
and hosting fees. 
Level and growth 
of hosted revenues
48% of our revenues were delivered 
though our hosting centre in FY13 
compared with 43% in FY12. Electronic Data Processing PLC Annual Report and Accounts 2013 6
Systems and networks EDP’s business operations rely significantly on the efficient and uninterrupted operation of its 
information technology systems and networks. Any damage or interruption, however caused, 
could have a material adverse effect on the delivery of our products and services. 
EDP’s computer network may be vulnerable to unauthorised access, viruses and other disruptive 
problems. A party that is able to override security measures could misappropriate proprietary 
information or cause disruption to our operations.
We continually review and test the security of internal systems and networks and have developed 
recovery plans in the event of systems disruption. Where reliance is placed upon externally provided 
systems and networks we undertake regular performance ability reviews and ensure that contracts 
provide for an appropriate level of service maintenance.
Technological advances The markets in which EDP operates are characterised by evolving technology, market practices 
and industry standards. Competitors could develop superior products or more cost-effective 
techniques which could render our products uncompetitive or less acceptable to the market. 
We have an ongoing commitment to research and development which allows us to identify and 
adapt to any technological and market changes that do occur thereby ensuring that our products 
continue to meet the demands of our customers.
External economic factors As with most other businesses in the UK, our operations can be adversely affected by a significant 
downturn in the economy. Restricted availability of finance for businesses and a stagnant or 
recessionary economy could have an adverse effect on the prospects for EDP, as potential customers, 
particularly in the builders and timber merchants sectors, may scale back their IT plans in response 
to funding difficulties and/or reduced prospects for their businesses.
We seek to mitigate these risks by ensuring that a significant proportion of our revenues are derived 
from long-term contracts with our customers, by ensuring that our products appeal to businesses 
operating in a range of business sectors and by generally seeking payment for our recurring fees 
annually in advance.
Competitor activity EDP operates in a competitive environment. New entrants to our marketplace and actions taken by 
existing competitors could have an impact on our levels of business activity and product pricing in 
the market generally. We endeavour to provide excellent customer support together with high quality 
products at a competitive price in order to develop and protect strong customer relationships.
Key personnel In common with all people-based businesses, our success will, to a significant extent, be 
dependent on the experience of the Board and senior management, the loss of one or more of 
whom could have a material adverse effect on EDP. The retention of the services of EDP’s key 
employees cannot be guaranteed. Accordingly we are continually focused on the need to recruit, 
retain, reward and motivate staff with the appropriate skills.
Principal Risks and Uncertainties
We operate in a changing economic and technological 
environment that presents risks, many of which are driven 
by factors that we cannot control or predict. The key risks 
and uncertainties facing EDP and the measures taken 
to mitigate these risks are as follows: Electronic Data Processing PLC Annual Report and Accounts 2013 7
Strategic report Governance Financial statements
Environmental, Employee, Social, Community 
and Human Rights Matters
Environmental information 
The Group’s operations, which are principally software development and hosting, by their nature have a minimal impact on the environment. 
Nevertheless, the Group is committed to minimising the impact of its activities on the environment through initiatives such as the provision 
of fuel-efficient cars to company car drivers and encouraging waste recycling at Group locations. 
Greenhouse gas emissions
During the year ended 30 September 2013 the Group purchased 603,000 kWh of electricity, the majority of which was used at the Group’s 
hosting centre in Milton Keynes. Using the 2013 conversion factor for grid electricity published by Defra this equated to 269 tonnes of carbon 
dioxide equivalent emitted. This equated to approximately 3.84 tonnes per Group employee.
The Group also operates a fleet of 26 cars. During the year ended 30 September 2013 the total carbon dioxide equivalent emitted by the vehicles, 
calculated from the manufacturers’ emissions rating for each car, was 69 tonnes. This equated to an average of 2.65 tonnes per vehicle.
Employee information
At the end of the financial year, the group employed 71 people. This figure includes 5 Executive and 2 Non-Executive Directors, 
all of whom are male. There are 3 senior managers, two of whom are male and one female. Of the remaining 61 employees, 45 are male 
and 16 are female.
Employee, social, community and human rights
Our company values are long established having been set out at the head of our annual report for many years. They are set out below:
• We believe in conducting our business activities with integrity, building mutually beneficial long-term relationships with all our
customers, providing the highest levels of professional service at every stage.
• We are committed to delivering superior value in our products and services to our customers, on a continuing basis.
• We respect the individuality of each member of our staff fostering an environment where creativity and productivity are encouraged,
valued and rewarded.
• We are dedicated to creating value for shareholders by performing in a manner which will enhance return on investment.
The Group does not have any other significant environmental, employee, social, community or human rights issues.
Approval of strategic report
The strategic report on pages 1 to 7 was approved by the Board on 16 December 2013.
Julian Wassell
Chief Executive Governance and Financial Statements
Governance
9 Directors and Advisers
10 Directors’ Report
12 Corporate Governance
15 Audit Committee Report
16 Directors’ Remuneration Report
26 Statement of Directors’ Responsibilities
Financial statements
27 Independent Auditor’s Report
30 Consolidated Income Statement
30  Consolidated Statement 
of Comprehensive Income
31 Consolidated Balance Sheet
32  Consolidated Statement of Changes in Equity
33 Consolidated Cash Flow Statement
34  Notes to the Consolidated Financial Statements
49 Company Balance Sheet
50  Notes to the Company Financial Statements
58 Five Year Statistical Record
In this section
Electronic Data Processing PLC Annual Report and Accounts 2013 8 Electronic Data Processing PLC Annual Report and Accounts 2013 9
Financial statements Governance Strategic report
Directors and Advisers
Directors
Sir Michael Heller (Chairman, 
Non-Executive)
J. H. Wassell (Chief Executive)
P . A. Davey (Sales)
P . J. Davies (Application  
Software Products)
A. R. Heller (Non-Executive)
C. R. Spicer (Network Services)
J. M. Storey (Finance)
Secretary
J. M. Storey
Registered office
4th Floor, Fountain Precinct
Balm Green
Sheffield S1 2JA
Auditor
KPMG Audit Plc
Chartered Accountants
1 The Embankment
Neville Street
Leeds LS1 4DW
Bankers
HSBC Bank plc
Carmel House
49–63 Fargate
Sheffield S1 2HD
Solicitors
Irwin Mitchell LLP 
Riverside East
2 Millsands
Sheffield S3 8DT
Wake Smith LLP
68 Clarkehouse Road
Sheffield S10 2LJ
Financial advisers
BDO LLP
Corporate Finance
125 Colmore Row
Birmingham B3 3SD
Stockbrokers
Westhouse Securities Ltd
Heron Tower
110 Bishopsgate
London EC2N 4AY
Registrars and transfer office
Capita Asset Services
The Registry
34 Beckenham Road
Beckenham
Kent BR3 4TU
Telephone 
0871 664 0300  
(calls cost 10p per minute + network extras, 
lines are open 8.30am–5.30pm Mon–Fri) 
+44 208 639 3399  
for overseas callers 
Website 
www.capitaassetservices.com 
E-mail 
shareholderenquiries@capita.co.uk
Financial Calendar 
Annual General Meeting 
27 March 2014
Interim results 
May 2014
9 10 Electronic Data Processing PLC Annual Report and Accounts 2013
The Directors present their annual report and financial statements for the year ended 30 September 2013.
Future developments and going concern
An indication of future developments in the Group’s business is given in the Strategic Report and is incorporated in this Directors’ Report 
by reference. A review of the impact of the current economic environment on the going concern assumption is given in the Corporate 
Governance Report.
Financial statements and results
The Group financial statements for the period under review have been prepared under International Financial Reporting Standards 
as adopted by the EU. The Parent Company financial statements have been prepared under UK GAAP .
The Group income statement for the year to 30 September 2013 is shown on page 30. The Group profit for the year before taxation 
amounted to £794,000 (2012: loss of £83,000), with turnover of £5,827,000 (2012: £5,805,000).
After a tax charge of £207,000 (2012: credit of £26,000), the profit for the year attributable to equity shareholders was £587,000 
(2012: loss of £57,000).
Dividends
A special interim dividend of 5.000p per share was paid on 1 August 2013. The Directors propose the payment of a final dividend of 2.000p 
per share, making a total of 7.000p per share (2012: 2.713p).
Subject to shareholders’ approval, the final dividend will be paid on 7 April 2014 to shareholders whose names appear on the register 
at close of business on 7 March 2014.
Share capital
Details of the issued share capital and the rights attaching to those shares are contained in note 21 to the financial statements. 
The Company holds 1,253,097 ordinary shares in treasury which were purchased by the Company in a previous financial year 
and represent 10% of the called up share capital.
At the forthcoming Annual General Meeting, further to the ordinary business to be dealt with, the following resolutions will be considered:
An Ordinary Resolution will be proposed to give the Directors authority to allot ordinary shares representing 33 1/3% of the issued share 
capital of the Company. In addition a Special Resolution will be proposed to disapply the statutory pre-emption provisions of Section 561 of the 
Companies Act 2006 in respect of any rights issues and for cash issues up to an amount of 5% of the issued share capital of the Company.
The Directors consider that it would be advantageous for the Company to be in a position to purchase its own ordinary shares. 
Accordingly, a Special Resolution will be proposed at the Annual General Meeting to renew the authority to purchase up to 10% of the 
issued share capital of the Company. The Directors intend to seek to renew the authority at each subsequent Annual General Meeting.
Directors
The Directors at the date of this report, all of whom served throughout the year, are shown on page 9. 
The Directors retiring by rotation are Julian Wassell, Peter Davey and Chris Spicer and, being eligible, offer themselves for re-election.
Julian Wassell has been a Director for sixteen years and Chief Executive since 2008. He is a Chartered Accountant, qualifying with 
Ernst & Young, and held a number of senior financial positions before joining EDP .
Peter Davey has been a Director since 2001. He joined BML (Office Computers) Ltd in 1987 prior to its acquisition by the Group in 1995, 
having previously worked for Kleeman Plastics and Beecham Pharmaceuticals in various management roles.
Chris Spicer has been a Director since 2001. He joined the EDP Group in 1986 following the acquisition of Business Computer Systems PLC. 
Chris is responsible for managing the Group’s Hosting Centre in Milton Keynes and the Advanced Software Development group.
Details of Directors’ interests in shares and share options are given in the Directors’ Remuneration Report on pages 16 to 25. There were 
no changes in the Directors’ interests in shares or share options up to 16 December 2013. There were no contracts of significance 
subsisting during or at the end of the financial year in which a Director of the Company is or was materially interested.
Directors’ Report 11
Financial statements Governance Strategic report
Electronic Data Processing PLC Annual Report and Accounts 2013
Substantial shareholdings
At 16 December 2013 the only institutions or persons to have notified the Company of holdings of 3% or more are Sir Michael Heller (28.48%), 
Boyles Fund I, LP (17.04%) and Mr S. Crookes (3.87%).
Research and development
Group policy is to invest in product innovation and improvement at a level designed to enable it to retain and enhance its market position.
Greenhouse gas emissions
Details of the Group’s emissions of greenhouse gases are given in the Strategic Report on page 7.
Corporate governance
Corporate governance disclosures required to be included in the Directors’ Report can be found in the Corporate Governance Report 
on pages 12 to 14.
Auditor
Following their intention to gradually wind down the activity in the registered firm, KPMG Audit Plc will not be seeking re-appointment 
as auditors of the Group. A resolution to appoint KPMG LLP will be proposed at the forthcoming Annual General Meeting.
Directors’ statement as to disclosure of information to auditor
The Directors who were members of the Board on the date the Directors’ Report was approved have confirmed the following:
• to the best of each Director’s knowledge and belief there is no information relevant to their report of which the auditor is unaware; and
• each Director has taken all the steps a Director might reasonably be expected to take to be aware of relevant audit information
and to establish that it has been communicated to the auditor.
Responsibility statement of the Directors in respect of the annual financial report
We confirm that to the best of our knowledge:
• the financial statements, prepared in accordance with the applicable set of accounting standards, give a true and fair view of the assets,
liabilities, financial position and profit of the Company and the undertakings included in the consolidation as a whole;
• the annual report and financial statements, taken as a whole, provides the information necessary to assess the Company’s performance,
business model and strategy and is fair, balanced and understandable; and
• the Strategic Report includes a fair review of the development and performance of the business and the position of the Issuer and the
undertakings included in the consolidation taken as a whole, together with a description of the principal risks and uncertainties that they face.
The Directors are shown on page 9.
By order of the Board
J. M. Storey
Director
16 December 2013 12 Electronic Data Processing PLC Annual Report and Accounts 2013
Corporate Governance
The Group is committed to high standards of corporate governance appropriate to its size and structure. The Board recognises its 
responsibility to the Company’s shareholders for good corporate governance and in doing so has given careful consideration to the 
principles of the UK Corporate Governance Code (the “Code”) (September 2012 edition) as set out below. The Board acknowledges 
its responsibility for ensuring that the annual report and accounts, taken as a whole, is fair, balanced and understandable and provides 
the information necessary for shareholders to assess the Company’s performance, business model and strategy.
Board structure and meetings
During the year under review the Board of Directors comprised five Executive Directors and two Non-Executive Directors.
The Non-Executive Chairman is responsible for the overall leadership of the Board and ensuring its effectiveness on all aspects of its role. 
The Board is responsible for overall strategy and consideration of significant financial and operational matters including the identification 
and assessment of the risks the Company faces. The Non-Executive Directors are encouraged to constructively challenge the Executive 
Directors and help develop proposals on strategy.
In addition to his role as Non-Executive Chairman of the Company, Sir Michael Heller is Executive Chairman of London & Associated 
Properties PLC and Bisichi Mining PLC, both of which are listed on the London Stock Exchange.
The Board met on five occasions during the year and has met on one occasion since the year end. All Directors attended the five Board 
meetings held during the year with the exception of P . J. Davies who attended four.
In addition the Executive Directors met on twelve further occasions during the year. The meetings were attended by all Executive Directors.
These meetings allow prompt decision making and assist in the control of strategic, financial and operational issues. T o enable them 
to carry out their responsibilities, all Directors have full and timely access to all relevant information.
Directors are able to seek independent advice at the expense of the Company.
Internal control
The Directors are responsible for establishing and maintaining the Group’s system of internal control and have a process, which is updated 
when required, for reviewing its effectiveness. Such a system is designed to manage rather than eliminate the risk of failure to achieve 
business objectives and can provide reasonable, but not absolute, assurance against material misstatement or loss.
There is an organisational structure in place, with clearly defined lines of responsibility and delegated authority, which is incorporated 
within the Group’s policy and procedure directives.
Board approval is required for a number of matters, the most significant of which are:
• published financial statements;
• acquisitions policy; and
• dividend policy.
The following matters require the approval of the Executive Directors:
• capital expenditure and disposals;
• treasury procedures and investment policy; and
• banking arrangements.
There is an ongoing process for identifying, evaluating and managing the significant risks faced by the Company, which has been 
in place for the year under review and up to the date of the approval of the annual report and accounts. This is regularly reviewed 
by the Board of Directors and accords with the revised Turnbull guidance.
A detailed budget is prepared covering all of the Group’s operations. This budget is reviewed and approved by the Board. Detailed monthly 
management accounts are prepared on a timely basis comparing actual performance of the Group with budget and prior year. Any significant 
variances are investigated and appropriate action taken. Management reports are produced regularly and include information on sales, 
gross profit, overheads, cumulative performance, cash flow and treasury matters.
The Board has reviewed the effectiveness of the Group’s system of internal controls during the period. Together with senior management, 
the Board has identified, evaluated and managed the significant risks facing the Group.
The Board will amend the specific control procedures which are put in place to reduce these risks whenever appropriate in order to meet 
the demands imposed by the business sector in which the Group operates. 13
Financial statements Governance Strategic report
Electronic Data Processing PLC Annual Report and Accounts 2013
Audit committee
A description of the composition and activities of the audit committee is given in the Audit Committee Report on page 15.
Remuneration committee
The remuneration committee comprises Sir Michael Heller, Mr A.R. Heller and Mr J.H. Wassell. The Board considers the structure 
of the remuneration committee to be appropriate given the size of the Company.
The remuneration committee is responsible for determining the remuneration packages and other terms and conditions for the Executive 
Directors. Mr J.H. Wassell is not involved in determining his own remuneration. The Non-Executive Directors serving on the remuneration 
committee are not involved in determining their own individual remuneration. The Directors’ Remuneration Report on pages 16 to 25 
contains details of remuneration policy and terms of appointment. Individual Director’s remuneration is also detailed in the Directors’ 
Remuneration Report. The remuneration committee held one meeting during the year and one meeting since the year end which were 
attended by all members.
Nomination committee
The nomination committee comprises Sir Michael Heller, Mr A.R. Heller and Mr J.H. Wassell. The committee is responsible for proposing 
candidates for appointment to the Board, having regard to the balance of skills, experience and knowledge of the Company on the Board, 
how the Board works together as a unit and other factors relevant to its effectiveness. The committee did not formally meet during the 
year as the current composition of the Board is considered by the committee to be appropriate. The Board consider the structure of the 
committee to be appropriate given the size of the Company. All Directors are subject to re-election at a maximum of every three years.
The Board does not have a formal policy on diversity. Appointments to the Board are recommended by the nomination committee 
on the basis of the experience and abilities of the candidate, regardless of gender or race.
Going concern
The Group’s business activities, together with the factors likely to affect its future development, performance and position along with 
the financial position of the Group, its cash flows and liquidity position, are described in the Strategic Report on pages 1 to 7. In addition 
note 18 to the financial statements includes details of the Group’s financial instruments and its exposures to credit risk and liquidity risk.
The Group has considerable financial resources together with a significant proportion of the Group’s revenues being derived from 
long-term contracts with established customers. As a consequence, the Directors believe that the Group is well placed to manage 
its business risks successfully despite the current uncertain economic outlook.
After making enquiries, the Directors have a reasonable expectation that the Company and the Group have adequate resources to 
continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing 
the annual report and accounts.
Share capital
Details of the Company’s share capital structure are given in the Directors’ Report and in note 21 to these financial statements.
Internal audit
The Board reviews from time to time whether there is a need for an internal audit function and on its last review concluded that, 
due to the size of the Group and the internal controls that are currently in place, no specific function is required at the present time.
Investor relations
The Group enters into dialogue with both institutional and private shareholders at the AGM and also on an ad-hoc basis during the year. 
All Directors are required to attend the AGM in order, among other things, to ensure they develop an understanding of the views 
of the Company’s shareholders. A separate resolution is held for each issue at the AGM. 
It is the Directors’ intention that all shareholders will receive at least 20 working days’ notice of the AGM.
The Group publishes its annual report and accounts and interim report along with other information on its website at www.edp.co.uk. 14 Electronic Data Processing PLC Annual Report and Accounts 2013
Corporate Governance continued
Compliance
The Group complied with the provisions of the Code throughout the period under review other than as detailed below:
(a)  The Group’s Non-Executive Directors have not been appointed for specified terms. The Board considers that because of the 
requirement for the Non-Executive Directors to stand for re-election at least every three years, specified terms are not required. 
The Code prescribes that Non-Executive Directors should be appointed for specified terms (B.2.3).
(b)  The Board is aware that the two Non-Executive Directors are not regarded as independent for the purposes of the Code. As a result 
there is no senior independent Non-Executive Director and the Company therefore does not apply Code provisions A.4.1 and A.4.2. 
The Board considers that the structure of the Board is appropriate for the size and complexity of the Company.
(c)  The Board considers that it is appropriate to operate a continual, informal evaluation process given the size and complexity of the 
Company. The Code prescribes that the Board should state in the annual report how the performance evaluation of the Board, 
its committees and its individual Directors has been conducted (B.6.1).
(d)  The audit committee and remuneration committee are both chaired by the Non-Executive Chairman and as a result the Company does 
not fully comply with Code provisions C.3.1 and D.2.1. The Nomination Committee has no independent Non-Executive Directors 
serving on it and consequently the Company does not comply fully with provision B.2.1. The Board considers that the structure of the 
Board committees is appropriate for the size and complexity of the Company.
(e)  The Non-Executive Chairman, who has served on the Board for over nine years, stands for election every three years rather than every 
year as prescribed by provision B.7.1. The Board considers this is appropriate given the Company’s size and complexity.
By order of the Board
J. M. Storey
Director
16 December 2013 15
Financial statements Governance Strategic report
Electronic Data Processing PLC Annual Report and Accounts 2013
Audit Committee Report
The audit committee comprises the two Non-Executive Directors, Sir Michael Heller and Andrew Heller, both of whom are Chartered Accountants. 
The Board considers the structure of the audit committee to be appropriate considering the size and complexity of the Group.
The committee’s terms of reference, which have been approved by the Board, are available on request from the company secretary.
The main responsibilities of the audit committee are:
• to monitor the adequacy of the Group’s internal financial controls;
• to take primary responsibility for appointing and re-appointing auditors;
• to review and monitor the scope, results and cost effectiveness of the external audit process;
• to monitor the procedures in place to safeguard the objectivity of the auditor and its independence in relation to non-audit services;
• to review the key assumptions and estimates or judgements that have been applied by management in the published financial
statements; and
• to consider the need for an internal audit function.
The audit committee met two times during the year. These meetings were held prior to publication of the annual results and half-year 
results. A third meeting, held just after the year end, reviewed among other things the significant judgements and estimates made 
by management in preparing these financial statements and the auditor’s strategy document. Both members of the committee, 
along with the Chief Executive and Finance Director, attended all meetings. The external auditor attended two meetings.
The committee has concluded that given the size and complexity of the Group there is no current need for an internal audit function.
The committee has considered the following significant accounting issues and areas of estimation and judgement in relation to these 
financial statements:
• We considered the accounting policy, as presented by the Finance Director in a paper prepared for the committee, relating to
recognition of revenue and whether the established policy was still appropriate for the business. We were content that the current policy 
was still appropriate. We were satisfied that the Group’s internal controls for ensuring that revenues were allocated to the correct period 
were effective.
• We considered the judgements made by management in the year end valuation of the Group’s freehold properties, in particular those
properties which were being marketed for sale. We were content that management’s estimate of residual values reflected the currently
available market evidence. We considered the valuation of the property disclosed as an asset held for sale in the light of an agreed offer
received from a third party for that property.
• We considered the approach taken by management in updating the key assumptions used in the valuation of the Group’s defined benefit
pension scheme, following guidance from the independent scheme actuary, and were content that the approach was appropriate.
• We considered the processes put in place by management, as presented by the Finance Director in a paper prepared for the committee, 
for the identification and recording of expenditure on software development which is capitalised and amortised under IAS 38. We were
satisfied that these processes were appropriate.
The committee has considered the effectiveness and quality of the external audit process. A key element of this is a review of the auditor’s 
formal Audit Strategy Document which is presented to the committee prior to the commencement of the annual audit. This document 
highlights to the committee the auditor’s assessment of audit materiality and the key audit focus areas. It also includes a formal 
assessment of the auditor’s independence.
The Group’s auditors, KPMG Audit Plc, and their legacy predecessors, have been in place since 1965. In line with the audit profession’s 
own ethical guidance the audit engagement partner is rotated every five years. The committee has considered whether it is appropriate 
to put the external audit contract out to tender. It has concluded that currently there is no requirement to conduct a tender process. 
The committee has also reviewed the procedures that are in place to safeguard the objectivity of the auditor and its independence in 
relation to non-audit services. The auditor is excluded from undertaking a range of work on behalf of the Group which includes appraisal or 
valuation services, management functions, litigation support and accounting and remuneration services. An analysis of the fees paid to the 
auditor in respect of non-audit work is shown in note 5, of which most relates to the preparation and submission of the Group’s corporation 
tax computations. Auditor independence is safeguarded by ensuring that the auditor is not involved in the preparation of the current 
and deferred tax provisions for the financial statements.
Sir Michael Heller
Chairman – Audit Committee
16 December 2013 16 Electronic Data Processing PLC Annual Report and Accounts 2013
Directors’ Remuneration Report
Remuneration Committee Chairman’s Statement
I am pleased to present the Directors’ Remuneration Report for the year ended 30 September 2013.
This year the report is presented in two parts. The first part, the Annual Report on Remuneration, looks at the remuneration that has been 
awarded to both Executive and Non-Executive Directors during the year.
The second part, the Future Directors’ Remuneration Policy report, details the Directors’ remuneration policy that the remuneration 
committee is proposing to put in place from 1 October 2014.
Both reports have been prepared in accordance with new Companies Act 2006 and The Large and Medium-sized Companies and Groups 
(Accounts and Reports) Regulations reporting requirements which apply to the Company for the first time this year.
In addition to the normal Ordinary Resolution to approve the Annual Report on Remuneration at the forthcoming AGM, we will also be 
seeking shareholder approval for the Company’s future Directors’ Remuneration Policy. The policy, if approved, will apply for a three-year 
period commencing 1 October 2014 and all payments made to Directors from that date must be in accordance with the policy.
During the year the remuneration committee has reviewed the current arrangements that are in place for remunerating the Executive 
Directors and has concluded that they remain appropriate as the basis for framing the future policy.
For a company of the size and complexity of EDP , we feel that it is appropriate that the Executives’ basic salary and benefits packages 
are augmented by a straightforward bonus scheme which is linked wholly to the operating profitability of the Group. We believe that such 
a scheme benefits from its transparency and most closely aligns the interests of our Executive Directors with those of our shareholders.
We have indicated in the Future Directors’ Remuneration Policy report where possible the likely and maximum remuneration that can 
be awarded to Directors for each component of pay. However, the remuneration committee also seeks to give itself sufficient operational 
flexibility over pay and would like to reserve the right, in limited circumstances, to be able to use discretion over certain matters. The situations 
where the committee will seek to use this discretion will be those where a significant development in the business results in an increase 
in a Director’s role and responsibility.
Sir Michael Heller
Chairman – Remuneration Committee
16 December 2013 17
Financial statements Governance Strategic report
Electronic Data Processing PLC Annual Report and Accounts 2013
Annual Report on Remuneration
Audited information
Single figure for total remuneration
The remuneration received by the Directors who served during the year is set out below:
2013
Salary
£
Benefits
£
Bonus and 
commission
£
Pension
£
Total before
 share options
£
Notional value 
of vesting 
share options
£
Total
£
Executive
J.H. Wassell 95,000 11,333 24,300 6,650 137,283 44,100 181,383
P.A. Davey 76,000 12,932 19,230 5,320 113,482 22,050 135,532
P.J. Davies 76,000 12,406 18,900 5,320 112,626 22,050 134,676
C.R. Spicer 76,000 11,911 18,900 19,039 125,850 22,050 147,900
J.M. Storey 67,000 7,690 12,000 4,690 91,380 11,025 102,405
Non-Executive
Sir Michael Heller 42,500 15,573 — — 58,073 — 58,073
A.R. Heller 10,000 — — — 10,000 — 10,000
442,500 71,845 93,330 41,019 648,694 121,275 769,969
2012
Salary
£
Benefits
£
Bonus and 
commission
£
Pension
£
Total before
 share options
£
Notional value 
of vesting 
share options
£
Total
£
Executive
J.H. Wassell 94,792 12,750 24,300 6,635 138,477 — 138,477
P.A. Davey 75,833 12,114 21,975 5,308 115,230 — 115,230
P.J. Davies 75,833 13,951 18,900 5,308 113,992 — 113,992
C.R. Spicer 75,833 11,024 18,900 4,300 110,057 — 110,057
J.M. Storey 66,000 4,866 10,000 4,620 85,486 — 85,486
Non-Executive
Sir Michael Heller 20,000 15,378 — — 35,378 — 35,378
A.R. Heller 10,000 — — — 10,000 — 10,000
418,291 70,083 94,075 26,171 608,620 — 608,620
Benefits comprise company car, private fuel, private healthcare and telephone costs.
All outstanding share options were granted on 30 September 2010 and vested on 30 September 2013.
The notional value of the share options vesting is calculated by multiplying the total number of options by the closing middle market price 
of EDP shares at the date on which the shares vest and deducting the cash amount that the individual would be required to pay should 
they exercise their option to acquire the shares. 18 Electronic Data Processing PLC Annual Report and Accounts 2013
Directors’ Remuneration Report continued
Annual Report on Remuneration continued
Audited information continued
Directors’ pension entitlements
Details of the pension entitlements of the Director who participates in the Group’s defined benefit pension scheme are as follows:
Normal retirement date
Accrued 
pension 
entitlement at
30 September
 2013
£
Accrued 
pension 
entitlement at 
30 September
 2012
£
Increase 
in accrued 
pension during 
the year
£
Transfer value 
of increase
£
C.R. Spicer
Current service period 30 September 2018 17,775 16,287 1,130 27,000
Deferred benefits from a prior service period 30 September 2018 12,511 12,264 — —
30,286 28,551 1,130 27,000
The increase in accrued pension includes an allowance for inflation over the financial year . The transfer value is calculated in accordance 
with Actuarial Guidance Note GN11, excluding inflation and less Director’s contributions.
Details of accrued pension valued on a transfer basis are as follows:
Transfer 
value at 
30 September 
2013
£
Transfer 
value at 
30 September 
2012
£
Decrease in 
transfer value 
less Director’s 
contributions
£
C.R. Spicer
Current service period 637,000 647,000 (14,000)
Deferred benefits from a prior service period 498,000 556,000 (58,000)
1,135,000 1,203,000 (72,000)
The transfer values at 30 September 2013 do not include any reduction to reflect the position shown in the most recent Insufficiency 
Report obtained by the scheme Trustees.
No additional benefit is expected under the scheme rules on early retirement before normal retirement date.
The other Executive Directors are members of money purchase personal pension schemes and are entitled to have contributions paid 
in by the Group at the rate of 7% of pensionable salary.
Directors’ shareholding and share interests
Directors’ interests in the issued share capital of the Company at 30 September 2013 and 30 September 2012 were as follows:
Number of shares
2013 2012
Beneficial Non-beneficial Beneficial Non-beneficial
Sir Michael Heller 2,571,050 997,500* 2,571,050 997,500*
J.H. Wassell 15,000 — 15,000 —
P.A. Davey 14,000 — 14,000 —
P.J. Davies 13,000 — 13,000 —
A.R. Heller — 407,750 — 407,750
C.R. Spicer 1,000 — 1,000 —
J.M. Storey 5,000 — 5,000 —
* Includes 407,750 shares in which Mr A. R. Heller has a non-beneficial interest. 19
Financial statements Governance Strategic report
Electronic Data Processing PLC Annual Report and Accounts 2013
Annual Report on Remuneration continued
Audited information continued
Directors’ shareholding and share interests continued
Details of options granted to Directors who served during the year under the Company’s Enterprise Management Incentive Share Option 
plan are as follows:
Number of options
Exercise
price
1 October 
2012
Granted
 in year
Exercised
in year
30 September 
2013
Exercisable 
from
Exercisable 
to
J.H. Wassell 45.5p 180,000 — — 180,000 30/09/2013 29/09/2020
P.A. Davey 45.5p 90,000 — — 90,000 30/09/2013 29/09/2020
P.J. Davies 45.5p 90,000 — — 90,000 30/09/2013 29/09/2020
C.R. Spicer 45.5p 90,000 — — 90,000 30/09/2013 29/09/2020
J.M. Storey 45.5p 45,000 — — 45,000 30/09/2013 29/09/2020
495,000 — — 495,000
None of the Executive Directors were awarded interests in the share option plan during the year and therefore no separate table of scheme 
interests awarded during the financial year has been presented. There are no other schemes in operation.
All share options had a grant date of 30 September 2010. None of the share options are subject to performance measures.
The middle market price of Electronic Data Processing PLC ordinary shares at 30 September 2013 was 70.0p. During the year the share 
price ranged between 47.5p and 72.5p.
Unaudited information
Performance graph
The following graph shows the Group’s performance, measured by total shareholder return, compared with the FTSE Small Cap index 
since 1 October 2008. The Directors have chosen this index as it gives an indication of performance compared against a large spread 
of smaller quoted companies.
The vertical axis represents an index where holdings of shares in both EDP and a representative holding of shares in the FTSE Small Cap index 
are based at 100 on 1 October 2008.
250
200
150
100
50
0
2012 2013 2008 2009 2010 2011
FTSE Small Cap
EDP
— FTSE Small Cap
— Electronic Data Processing PLC 20 Electronic Data Processing PLC Annual Report and Accounts 2013
Directors’ Remuneration Report continued
Annual Report on Remuneration continued
Unaudited information continued
Chief Executive remuneration
The remuneration of the Chief Executive, J. H. Wassell, since 2009 is shown below:
2009
£
2010
£
2011
£
2012
£
2013
£
Total remuneration 121,800 135,155 139,196 138,477 181,383*
* The total remuneration figure for 2013 includes £44,100 in respect of the notional value of share options vesting in the period.
With regard to the maximum bonus that could have been awarded in 2013, this is not set by individual Executive Director. The total amount of 
bonus awarded to the Executive Directors is set at 10% of the Group’s adjusted operating profit for the year. This is therefore also the maximum 
bonus that can be awarded to the Executive Directors collectively. The allocation between individual Directors is decided on an annual basis 
taking into account individual and collective performance and level of experience as a Director.
The share options that vested in 2013 represented 100% of the total number that could have vested in that year.
The percentage change in the remuneration of J.H. Wassell compared to that of all employees of the Group as a whole is shown below:
Salary Benefits Bonus
J.H. Wassell 0.0% -11.1% 0.0%
All employees 1.5% 0.0% *
* The bonus scheme is applicable to Executive Directors only.
All Group employees excluding the Directors received a 1.5% pay increase on 1 November 2012. In addition individual employee salaries 
are reviewed in cases of increased responsibility, experience or exceptional performance.
The salaries of the Executive Directors are reviewed on 1 December each year. At the 1 December 2012 review date the Directors’ salaries 
did not change.
Relative importance of spend on pay
The total expenditure of the Group on remuneration to all employees compared to distributions to shareholders is shown below:
2013
£’000
2012
£’000
Employee remuneration 3,100 2,976
Distributions to shareholders
Ordinary dividends 251 340
Special dividends 626 —
Total 877 340
Shareholder voting
Details of the votes of shareholders at the Company’s AGM on 13 March 2013 relating to remuneration are shown below:
% 
of votes 
for
% 
of votes 
against
Number 
of votes 
withheld
Resolution to approve the Directors’ Remuneration Report 99.8% 0.2% 6,750
Policy Report
Future Directors’ Remuneration Policy
The remuneration policy proposed by the remuneration committee is designed to ensure that the Directors’ interests are allied to the 
long-term growth of the Group and its pre-tax profits and, therefore, to the interests of shareholders as a whole. Remuneration packages 
are to be set at a level necessary to attract, retain and motivate Directors of the quality required by the Group. The committee has also 
taken into account pay and employment conditions elsewhere in the Group. The Board’s policy is to consider granting share options to 
the Executive Directors and other senior personnel at appropriate times to provide them with an interest in the longer-term development 
of the Group. The Board has fully considered the requirements of Schedule A of the UK Corporate Governance Code on Directors’ 
remuneration in framing its policy.
At the forthcoming Annual General Meeting, an Ordinary Resolution will be proposed to approve the Directors’ remuneration policy 
in accordance with Section 439A of the Companies Act 2006. It is intended that the policy will take effect on 1 October 2014. 21
Financial statements Governance Strategic report
Electronic Data Processing PLC Annual Report and Accounts 2013
Policy Report continued
Future Directors’ Remuneration Policy continued
The policy is shown in the following table:
Purpose and how 
it supports strategy Operation Performance measures Maximum opportunity
Salary –  
Executive Directors
Salaries are to be 
set at a level which 
are considered 
appropriate to 
attract, retain and 
motivate Directors 
of the quality 
required by the 
Group in order to 
execute its strategy.
An Executive Director’s basic 
salary will be considered by the 
committee on their appointment.
Salaries will be reviewed 
annually or when a change 
in responsibility occurs.
When reviewing salaries 
the remuneration committee will 
consider remuneration practices 
within the Group as a whole along 
with conditions in the sector and 
markets in which it operates.
Performance conditions will 
not be attached to the payment 
of basic salaries. However, 
the performance of individual 
Directors is considered 
by the committee when 
setting salaries.
The current annual salaries 
of the Executive Directors are: 
J.H. Wassell £95,000 
P.A. Davey £76,000 
P.J. Davies £76,000 
C.R. Spicer £76,000 
J.M. Storey £71,500 
When setting future salaries, the 
committee will take into account the 
pay and conditions for other employees 
in the Group but will exercise its discretion 
to take account of other factors including: 
• changes in role and responsibility;
• significant developments
in the Group’s activities such 
as an acquisition;
• the development of less
experienced Directors; and
• market conditions generally.
Salary – 
Non-Executive 
Directors
Salaries are to be 
set at a level that are 
commensurate with 
the experience and 
skills required of 
the Non-Executive 
Directors to assist 
the Board with 
setting and 
monitoring 
the strategy of 
the Company.
The salaries of the Non-Executive 
Directors are to be determined by the 
Board at a level that reflects the time 
commitment and responsibilities 
of the role.
None. The current annual salaries of 
the Non-Executive Directors are:
Sir Michael Heller  £50,000 
A.R. Heller  £10,000
The committee in setting future salaries 
will take into account the time commitment 
and input required from the Non-Executive 
Directors together with Non-Executive 
pay generally.
Benefits
Benefits are provided 
in line with standard 
commercial practice 
and form part of the 
overall remuneration 
package required to 
motivate and retain the 
Executive Directors.
All Executive Directors and the 
Non-Executive Chairman are provided 
with a company car which includes 
the option to receive private fuel.
The Executive Directors are entitled 
to receive private healthcare and 
death in service cover in schemes 
available to all Group employees 
together with certain telephone costs.
None. The value of benefits for each Director 
for the year ended 30 September 2013 
are shown in the table on page 17.
The value of benefits in future years 
will be determined by, among other 
things, HMRC rules for measuring 
benefits for tax purposes.
The committee will retain the discretion 
to award additional benefits to address 
new business requirements, 
for example relocation. 22 Electronic Data Processing PLC Annual Report and Accounts 2013
Directors’ Remuneration Report continued
Policy Report continued
Future Directors’ Remuneration Policy continued
Purpose and how 
it supports strategy Operation Performance measures Maximum opportunity
Bonus and 
commission
The bonus 
and commission 
scheme link part 
of the remuneration 
of the Executive 
Directors to 
the financial 
performance 
of the Group.
A performance related bonus 
scheme operates for all Executive 
Directors. The bonus is based 
on the Group’s operating profit 
and is not pensionable.
In addition to the bonus scheme, 
the Sales Director, P.A. Davey, 
receives a commission on 
sales performance which 
is not pensionable.
The total bonus awarded 
to the Executive Directors as 
a whole is calculated at 10% 
of annual adjusted operating 
profit before taking account 
of the bonus. The total bonus 
is allocated to the individual 
Executive Directors by the 
committee following an 
appraisal of each Director’s 
individual performance 
and level of experience.
The sales commission awarded 
to the Sales Director is based 
on the year on year increase 
in total Group revenue.
The total of bonus and commission 
awarded to the Executive Directors 
for the year ended 30 September 2013 
is shown in the table on page 17.
The maximum opportunity for total bonus 
is 10% of the Group’s adjusted operating 
profit before taking into account the bonus. 
The bonus is allocated to the individual 
Directors by the committee at its discretion. 
As the Sales Director’s commission is 
based on the annual increase in sales the 
committee does not deem it appropriate 
to set a cap.
Pension
Pension 
arrangements 
are provided in 
line with standard 
commercial practice 
and form part of the 
overall remuneration 
package required to 
motivate and retain the 
Executive Directors.
The Executive Directors participate 
in pension arrangements operated 
by the Company.
C.R. Spicer currently participates 
in the Group’s contributory 
defined benefit pension scheme. 
Pensionable salary is defined in the 
scheme rules as basic salary plus the 
average of other remuneration over 
the previous three years. However, 
under the terms of the Directors’ 
bonus scheme, the bonus is not 
pensionable. Pension entitlement 
is accrued at the rate of 1/60th of 
pensionable pay for each year’s 
service up to a maximum of 40 years. 
The scheme provides a pension of 
up to two-thirds of pensionable salary 
at a retirement age of 65 and widows’ 
pension benefits. The Director’s 
contribution to this scheme amounts 
to 5% of pensionable salary.
The other Executive Directors 
are entitled to receive contributions 
to personal pension arrangements 
at the rate of 7% of basic salary.
None. The pension contributions that will be 
paid by the Company for the year ended 
30 September 2014 for all Executive 
Directors other than C.R. Spicer is 7% 
of basic salary. It is not possible to value 
the pension benefit that will be earned 
by C.R. Spicer in 2014 as this calculation 
requires the application of actuarial factors 
which are only known at the end of the year.
The Company is in the process of 
closing the defined benefit scheme to 
future accrual in 2014. If this happens, 
C.R. Spicer will no longer accrue benefits 
in the scheme. Instead, in common 
with other employees who are currently 
members of the defined benefit scheme, 
he will be entitled to receive contributions 
to a personal pension arrangement at the 
rate of 13% of his basic salary for the first 
three years after closure of the defined 
benefit scheme and 3% thereafter.
The committee will retain the discretion to 
review the contribution rate into personal 
pension arrangements from time to time 
in line with market conditions.
Share options
The scheme 
provides a link 
between the 
remuneration 
of the Executive 
Directors and the 
long-term increase 
to shareholder value 
through an increase 
in the share price.
The Company operates an Enterprise 
Management Incentive (EMI) Share 
Option Plan. Each Executive Director 
is eligible to participate in the plan. 
The scheme allows options to be 
granted to eligible employees to 
purchase a limited number of shares 
in the Company within a period of 
three to ten years from the date of 
grant for not less than the market 
value of the shares at the date 
of grant.
Entitlement to share options 
is not subject to specific 
performance conditions 
because it is considered 
appropriate, given the size 
and nature of the Group, 
to measure the performance 
of the business, and therefore 
the Executive Directors, based 
on the Company share price.
Share options granted to Executive Directors 
under the scheme on 30 September 2010 
are shown on page 19. There remain 
41,549 options not yet issued under the 
current scheme. The committee may deem 
it appropriate to grant these remaining 
options to Executive Directors at some 
future time.
There are currently no other share option 
schemes or long-term incentive schemes 
in operation. 23
Financial statements Governance Strategic report
Electronic Data Processing PLC Annual Report and Accounts 2013
Policy Report continued
General employee Remuneration Policy
The Company’s policy is to pay salaries at a level sufficient to attract, retain and motivate Group employees. Salaries are reviewed once 
a year. The general increase in salaries during the year to 30 September 2013 was 1.5%. Certain individual employees received further increases 
where there had been a change in responsibility or experience or where there had been exceptional performance.
Certain employees are provided with a company car as appropriate. Employees who have three years’ service are able to join the private 
healthcare scheme. All employees are covered under the Group’s death in service insurance arrangements. Certain employees receive 
employer contributions into a company pension scheme.
Certain senior personnel have been granted options under the same EMI Share Option Scheme that the Executive Directors have been 
granted options under. Those employees working in a sales or professional services role receive a variable commission which is based 
upon their own performance. There are no other performance related remuneration schemes available to Group employees.
Recruitment remuneration
When agreeing the components of a remuneration package for the appointment of Directors, the committee will take into account, among 
other things, the following factors:
• the level of experience and skill required to perform the role;
• in the case of a Non-Executive recruit, the level of time commitment and expertise required;
• employment market conditions for the type of role that is being recruited for; and
• the levels of remuneration paid to existing Directors.
The committee would consider making available to new Executive Directors all those components of remuneration which are available to current 
Executive Directors. In the case of new Non-Executive Directors the Board would consider only offering a basic salary or Director’s fee.
The committee would expect a new Executive Director to participate in the bonus scheme but does not propose to set a maximum bonus 
or commission that could be awarded.
Service contracts and payments for loss of office
It is the Company’s policy that each Executive Director has a service contract. For those Executive Directors who served during the year, 
the date of the contract is shown below together with the notice period from the Company:
Contract start date Unexpired term Notice period
J.H. Wassell 8 May 2008 Continuous Six months
P.A. Davey 15 May 2008 Continuous Six months
P.J. Davies 13 May 2008 Continuous Six months
C.R. Spicer 7 May 2008 Continuous Six months
J.M. Storey 10 December 2010 Continuous Six months
The service contracts of the current Executive Directors provide for the following payments in the event of contract termination:
Basic salary
Salary will be paid over the notice period. At its discretion, the Company has the option to make a payment in lieu of notice covering basic 
salary only.
Benefits
Benefits will normally be provided over the notice period. However, where termination is with immediate effect benefits are not included 
within any calculation of pay in lieu of notice.
Pension
Company pension contributions will normally be provided over the notice period. However, where termination is with immediate effect, 
pension contributions are not included within any calculation of pay in lieu of notice.
Bonus
There is no right to participate in or benefit from the bonus scheme in any year in which an Executive Director’s employment is terminated 
or during which he is under notice.
The committee considers it likely that any future Directors’ service contracts that will be entered into by the Company will contain 
the same provisions for compensation for loss of office as those in the current Directors’ service contracts.
The committee reserve the right to approve additional payments for loss of office should the particular circumstances mean that 
it is in the Company’s best interest to do so.
Notice periods
Directors’ notice periods are set in line with market practice and of a length sufficient to ensure an effective handover of duties in 
the event of a Director leaving the Company. Pay in lieu of notice can be paid at the Company’s discretion in full and final settlement 
of amounts due to the Director at termination of his employment only of his basic salary less PAYE deductions. 24 Electronic Data Processing PLC Annual Report and Accounts 2013
Directors’ Remuneration Report continued
Policy Report continued
Share options
Under the terms of the EMI Share Option Plan, no employee has any right to compensation or damages on account of any loss in respect 
of the options where such loss arises from termination of employment. Options may not be exercised after an option holder ceases 
employment with the Company.
Remuneration scenarios
An indication of the possible level of remuneration that would be received by each Executive Director, rounded to the nearest thousand, 
in the year commencing 1 October 2014 in accordance with the Directors’ remuneration policy is shown below. The three scenarios 
presented for each Executive Director show an indication of the minimum remuneration receivable, the remuneration receivable if the 
Director and the Company are performing in line with expectations and the theoretical maximum remuneration receivable.
In the second scenario, referred to as “on-target” in the bar charts, the assumption is made that the Company performs in line with the current 
year and that the proportion of the total Executive Directors’ bonus is allocated to the individual Directors in the same proportion as the current 
year. The illustration of the bonus award has not been based on the Company’s future financial targets as in the opinion of the Directors 
this would result in the disclosure of commercially sensitive information.
In the third scenario, referred to as “maximum” in the bar charts, the assumption is made that the Company performs in line with the 
current year and that the Executive Director is awarded 100% of the total bonus available for that year. As in the “on-target” scenario, the 
illustration of the bonus award has not been based on the Company’s future financial targets as in the opinion of the Directors this would 
result in the disclosure of commercially sensitive information.
As described elsewhere in this report, the total bonus awarded collectively to the Executive Directors is calculated at 10% of the Company’s 
adjusted operating profit before taking account of the bonus. This is therefore also the maximum amount of bonus that can be awarded 
collectively to the Executive Directors in any one financial year. Should any Executive Director be awarded 100% of the total bonus as 
presented in the third scenario, the bonus awarded to all other Executive Directors would be nil. In reality this scenario would be unlikely 
to occur; however it has been presented to identify the theoretical maximum remuneration that could be received by each Director. 
As the bonus is based on the year’s adjusted operating profit, performance better or worse than the current year would increase 
or decrease the maximum accordingly.
J. H. Wassell
£98,000
£191,000
£84,000
£177,000
£94,000 £94,000
£187,000 £187,000
Minimum On-target Maximum
£‘000
0
50
100
150
200
250
100% 82% 55%
£137,000
18%
£113,000
£206,000
45%
Salary, benefits and pension Bonus
C. R. Spicer
Minimum On-target Maximum
£‘000
0
50
100
150
200
250
100% 84% 51%
£117,000
16%
49%
Salary, benefits and pension Bonus
P. A. Davey
Minimum On-target Maximum
£‘000
0
50
100
150
200
250
100% 83% 50%
£113,000
17%
50%
Salary, benefits and pension Bonus
J. M. Storey
Minimum On-target Maximum
£‘000
0
50
100
150
200
250
100% 87% 47%
£96,000
13%
53%
Salary, benefits and pension Bonus
P. J. Davies
Minimum On-target Maximum
£‘000
0
50
100
150
200
250
Salary, benefits and pension Bonus
100% 83% 50%
£113,000
17%
50% 25
Financial statements Governance Strategic report
Electronic Data Processing PLC Annual Report and Accounts 2013
Policy Report continued
Consideration of employment conditions elsewhere in the Group
The Company’s general policy for employee remuneration is stated above. In setting the policy for Directors’ remuneration, 
the committee has been mindful of the Company’s policy on annual salary reviews and the range of benefits offered to employees 
more widely. No formal consultation has been undertaken with employees in drawing up the policy. The committee has not used formal 
remuneration comparison measurements.
Consideration of shareholder views
A resolution to approve the Directors’ Remuneration Report is tabled at the Company’s Annual General Meeting. Shareholders are provided 
with the opportunity to ask questions about Directors’ remuneration, as they are with any other areas of the report and accounts, during 
the meeting.
The committee is not aware of any specific views expressed by shareholders relating to Directors’ remuneration, nor have any specific 
shareholder views been taken into account by the committee in formulating the Directors’ remuneration policy.
The Directors’ Remuneration Report was approved by the Board and signed on its behalf by:
Sir Michael Heller
Director
16 December 2013 26 Electronic Data Processing PLC Annual Report and Accounts 2013
Statement of Directors’ Responsibilities
in respect of the annual report and the financial statements
The Directors are responsible for preparing the annual report and the Group and Parent Company financial statements in accordance 
with applicable law and regulations.
Company law requires the Directors to prepare Group and Parent Company financial statements for each financial year. Under that law 
they are required to prepare the Group financial statements in accordance with IFRS as adopted by the EU and applicable law and have 
elected to prepare the Parent Company financial statements in accordance with UK Accounting Standards.
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 Group and Parent Company and of their profit or loss for that period. In preparing each of the Group and Parent 
Company financial statements, the Directors are required to:
• select suitable accounting policies and then apply them consistently;
• make judgements and estimates that are reasonable and prudent;
• for the Group financial statements, state whether they have been prepared in accordance with IFRSs as adopted by the EU;
• for the Parent Company financial statements, state whether applicable UK Accounting Standards have been followed, subject to any
material departures disclosed and explained in the Parent Company financial statements; and
• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group and the Parent
Company will continue in business.
The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Parent Company’s 
transactions and disclose with reasonable accuracy at any time the financial position of the Parent Company and enable them to ensure 
that its financial statements comply with the Companies Act 2006. They have general responsibility for taking such steps as are reasonably 
open to them to safeguard the assets of the Group and to prevent and detect fraud and other irregularities.
Under applicable law and regulations, the Directors are also responsible for preparing a Strategic Report, Directors’ Report, Directors’ 
Remuneration Report and Corporate Governance Statement that comply with that law and those regulations.
The Directors are responsible for the maintenance and integrity of the corporate and financial information included on the Company’s website. 
Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. 27
Governance Financial statements Strategic report
Electronic Data Processing PLC Annual Report and Accounts 2013
Independent Auditor’s Report
to the members of Electronic Data Processing PLC only
Opinions and conclusions arising from our audit
1. Our opinion on the financial statements is unmodified
We have audited the financial statements of Electronic Data Processing PLC for the year ended 30 September 2013 set out 
on pages 30 to 57. In our opinion: 
• the financial statements give a true and fair view of the state of the Group’s and of the Parent Company’s affairs as at 30 September 2013 
and of the Group’s profit for the year then ended;
• the Group financial statements have been properly prepared in accordance with International Financial Reporting Standards as adopted
by the European Union;
• the Parent Company financial statements have been properly prepared in accordance with UK Accounting Standards; and
• the financial statements have been prepared in accordance with the requirements of the Companies Act 2006 and, as regards the Group
financial statements, Article 4 of the IAS Regulation.
2. Our assessment of risks of material misstatement
In arriving at our audit opinion above on the financial statements the risks of material misstatement that had the greatest effect on our 
group audit were as follows: 
Revenue recognition (£5,827,000)
Refer to page 15 (Audit Committee Report), page 36 (Accounting Policy) and page 43 (financial disclosures).
• The risk – The Group’s contracts with its customers involve the delivery of multiple services. Revenue recognition within the Group
requires the separate recognition of revenue for each service on an appropriate basis and the spreading of the revenue over the period
of service, resulting in deferred revenue balances. Although the contracts entered into by the Group are of limited complexity and
variety, there are a large number of transactions to be processed.
• Our response – In this area our audit procedures included, among others:
• consideration of the appropriateness and consistency of the Group’s approach to allocating revenue to each component of a transaction.
Where the Group determines the fair value of individual components by reference to costs incurred, this included making an assessment
of the level of costs incurred or to be incurred in comparison to prior periods;
• testing of the design of controls over the allocation of revenue to separate components of the transaction and the allocation
of revenue across periods; and
• trend analysis on the amount of revenue and deferred revenue, the average life of customer contracts and the number of customers
and recalculation of the deferred revenue balances.
We also considered the adequacy of the Group’s disclosures in respect of amounts recognised as revenue and deferred revenue.
Assets held for sale (£1,423,000)
Refer to page 15 (Audit Committee Report), page 35 (Accounting Policy) and page 43 (financial disclosures).
• The risk – The Group holds a freehold property which is classified as an asset held for sale at 30 September 2013. The downturn in
the economy in recent years has had a negative impact on the UK property market and therefore there are risks, both over the current
valuation of the property and, due to the length of time since initial classification as held for sale, the appropriateness of its separate
presentation on the balance sheet, which is based on management’s ability to dispose of it within a reasonable timeframe.
• Our response – In this area our audit procedures included, among others critically assessing the Directors’ assumptions regarding
the valuation of this property by documentation supporting the status of negotiations from interested parties and our own knowledge
of similar transactions in the market. We also considered whether this information was consistent with the Directors’ plans to dispose
of the property within the 12 month period permitted by accounting standards. We also considered the adequacy of the Group’s
disclosures in respect of assets held for sale.
Defined benefit pension scheme (£1,044,000)
Refer to page 15 (Audit Committee Report), page 36 (Accounting Policy) and pages 45 to 46 (financial disclosures).
• The risk –The Group operates a defined benefit pension scheme. The closed scheme has an extremely small number of members (in
terms of active and deferred members, and also those currently receiving pensions). An assessment of the underlying valuation of the
scheme requires significant estimates to be applied, and, due to the small membership, a small change in certain of these estimates
could have a material effect on the Group’s results and financial position.
• Our response – In this area our audit procedures included, among others, comparing the Group’s assumptions to market data as well as, 
with the support of our own actuarial specialist, our own assessments in relation to key inputs such as inflation rates, discount rates,
expected return on assets, increases in pay, increases in pension payments, increases for deferred pensioners and, in particular,
mortality rates. We also assessed whether the Group’s disclosures were appropriate and consistent with the requirements of relevant
accounting standards. 28 Electronic Data Processing PLC Annual Report and Accounts 2013
Independent Auditor’s Report continued
to the members of Electronic Data Processing PLC only
Opinions and conclusions arising from our audit continued
2. Our assessment of risks of material misstatement continued
Capitalised development costs (£234,000)
Refer to page 15 (Audit Committee Report), page 36 (Accounting Policy) and page 42 (financial disclosures).
• The risk – Software project development costs are required to be capitalised (and subsequently amortised) if they meet the criteria of
relevant accounting standards, which require, among other things, an assessment of the future out-turn of the project. These costs are
otherwise expensed as incurred. The capitalisation criteria are inherently judgemental and there is a risk that qualifying projects are not
identified. There is also a risk that costs attributable to such projects are misstated.
• Our response – Our audit procedures included, amongst others, analysis of the current year’s expensed costs to identify un-capitalised
projects and obtaining and corroborating, for example by reference to publicly available information, such as product and upgrade
release dates, the Group’s explanations for why such costs have not been capitalised. For qualifying projects we considered the Group’s
assessment of their future technical and financial prospects by reference to our knowledge of the Group’s business and our experience
of the industry; we re-performed the Group’s calculation of staff costs attributable to qualifying projects, and considered our analysis
of un-capitalised costs to identify any overlooked attributable costs.
3. Our application of materiality and an overview of the scope of our audit
The materiality for the Group financial statements as a whole was set at £70,500. This has been determined with reference to a benchmark 
of Group profit before taxation (of which it is 9%) which we consider to be one of the principal considerations for members of the Company 
in assessing the financial performance of the Group.
We agreed with the audit committee to report to it all corrected and uncorrected misstatements we identified through our audit with a value 
in excess of £5,000 in addition to other audit misstatements below that threshold that we believe warranted reporting on qualitative grounds.
Audits were performed at reporting components, all of which are in the UK. These audits covered 100% of: total Group revenue, 
Group profit before taxation and total Group assets. The Group audit and component audits were performed by the Group audit team. 
The materiality levels were set individually for each component and ranged from £22,600 to £70,500. 
4. Our opinion on other matters prescribed by the Companies Act 2006 is unmodified
In our opinion: 
• the part of the Directors’ Remuneration Report to be audited has been properly prepared in accordance with the Companies Act 2006;
• the information given in the Strategic Report and Directors’ Report for the financial year for which the financial statements are prepared
is consistent with the financial statements; and
• the information given in the Corporate Governance Statement set out on pages 12 to 14 with respect to internal control and risk management 
systems in relation to financial reporting processes and about share capital structures is consistent with the financial statements.
5. We have nothing to report in respect of matters on which we are required to report by exception
Under ISAs (UK and Ireland) we are required to report to you if, based on the knowledge we acquired during our audit, we have identified 
other information in the annual report that contains a material inconsistency with either that knowledge or the financial statements, 
a material misstatement of fact, or that is otherwise misleading. 
In particular, we are required to report to you if: 
• we have identified material inconsistencies between the knowledge we acquired during our audit and the Directors’ statement that they
consider that the annual report and financial statements taken as a whole is fair, balanced and understandable and provides the information 
necessary for shareholders to assess the Group’s performance, business model and strategy; or
• the Audit Committee Report does not appropriately address matters communicated by us to the audit committee.
Under the Companies Act 2006 we are required to report to you if, in our opinion:
• adequate accounting records have not been kept by the Parent Company, or returns adequate for our audit have not been received
from branches not visited by us; or
• the Parent Company financial statements and the part of the Directors’ Remuneration Report to be audited are not in agreement
with the accounting records and returns; or
• certain disclosures of Directors’ remuneration specified by law are not made; or
• we have not received all the information and explanations we require for our audit; or
• a corporate governance statement has not been prepared by the Company. 29
Governance Financial statements Strategic report
Electronic Data Processing PLC Annual Report and Accounts 2013
Opinions and conclusions arising from our audit continued
5. We have nothing to report in respect of matters on which we are required to report by exception continued
Under the Listing Rules we are required to review: 
• the Directors’ statement, set out on page 13, in relation to going concern;
• the part of the Corporate Governance Statement on pages 12 to 14 relating to the Company’s compliance with the nine provisions of the
2010 UK Corporate Governance Code specified for our review; and
• certain elements of the report to shareholders by the Board on Directors’ remuneration.
We have nothing to report in respect of the above responsibilities.
Scope of report and responsibilities
As explained more fully in the Directors’ Responsibilities Statement set out on page 26, the Directors are responsible for the preparation of 
the financial statements and for being satisfied that they give a true and fair view . A description of the scope of an audit of accounts is 
provided on the Financial Reporting Council’s website at www.frc.org.uk/auditscopeukprivate. This report is made solely to the Company’s 
members as a body and is subject to important explanations and disclaimers regarding our responsibilities, published on our website 
at www.kpmg.com/uk/auditscopeukco2013a, which are incorporated into this report as if set out in full and should be read to provide 
an understanding of the purpose of this report, the work we have undertaken and the basis of our opinions.
Adrian Stone (Senior Statutory Auditor) 
for and on behalf of KPMG Audit Plc, Statutory Auditor 
Chartered Accountants 
1 The Embankment
Neville Street
Leeds
LS1 4DW 
16 December 2013 30 Electronic Data Processing PLC Annual Report and Accounts 2013
Consolidated Income Statement
for the year ended 30 September 2013
2013 2012
Note £’000 £’000
Revenue 3 5,827 5,805 
Gross profit 5,419 5,334 
Administrative expenses (4,710) (4,646)
Operating profit 4 709 688 
Write-down of property values 15 — (849)
Finance income 85 78 
Profit/(loss) before tax 794 (83)
Income tax (expense)/credit 7 (207) 26 
Profit/(loss) for the period attributable to equity holders of the parent 587 (57)
Earnings/(loss) per share
– Basic 8 4.68p (0.45)p
– Diluted 8 4.63p (0.45)p
2013 2012
£’000 £’000
Profit/(loss) for the period 587 (57)
Other comprehensive income
Items that will not be reclassified to profit or loss:
– Actuarial gains/(losses) on defined benefit pension scheme 169 (844)
– Income tax on other comprehensive income (32) 212 
Other comprehensive income for the period net of tax 137 (632)
Total comprehensive income for the period attributable to equity holders of the parent 724 (689)
Consolidated Statement of Comprehensive Income
for the year ended 30 September 2013 31
Governance Financial statements Strategic report
Electronic Data Processing PLC Annual Report and Accounts 2013
Consolidated Balance Sheet
at 30 September 2013
2013 2012
Note £’000 £’000
Non-current assets
Property, plant and equipment 10 1,743 1,708 
Deferred tax asset 20 209 258 
Intangible assets 11 322 356 
2,274 2,322 
Current assets
Inventories 12 81 79 
Trade and other receivables 13 1,537 1,551 
Cash and cash equivalents 14 5,667 5,648 
Assets held for sale 15 1,423 1,863 
8,708 9,141 
Total assets 10,982 11,463 
Current liabilities
Deferred income 16 (2,291) (2,403)
Income tax payable (177) (182)
Trade and other payables 17 (1,195) (1,311)
(3,663) (3,896)
Non-current liabilities
Deferred income 16 (57) (107)
Employee benefits 19 (1,044) (1,120)
Deferred tax liability 20 (70) (70)
(1,171) (1,297)
Total liabilities (4,834) (5,193)
Net assets 6,148 6,270 
Equity
Share capital 21 689 689 
Share premium 119 119 
Capital redemption reserve 625 625 
Treasury shares 21 (627) (627)
Retained earnings 5,342 5,464 
Total equity attributable to equity holders of the parent 6,148 6,270 
These financial statements were approved by the Board of Directors on 16 December 2013 and were signed on its behalf by:
Sir Michael Heller Julian Wassell
Directors
Electronic Data Processing PLC, registered number 853560 32 Electronic Data Processing PLC Annual Report and Accounts 2013
Consolidated Statement of Changes in Equity
for the year ended 30 September 2013
Capital
Share Share redemption Treasury Retained
capital premium reserve shares earnings Total
£’000 £’000 £’000 £’000 £’000 £’000
Balance at 1 October 2011 689 119 625 (627) 6,485 7,291 
Loss for the period — — — — (57) (57)
Other comprehensive income:
– actuarial loss on defined benefit pension
scheme net of tax — — — — (632) (632)
Total comprehensive income — — — — (689) (689)
Transactions with owners:
– share-based payment transactions — — — — 8 8 
– dividends paid — — — — (340) (340)
Total transactions with owners — — — — (332) (332)
Balance at 30 September 2012 689 119 625 (627) 5,464 6,270 
Capital
Share Share redemption Treasury Retained
capital premium reserve shares earnings Total
£’000 £’000 £’000 £’000 £’000 £’000
Balance at 1 October 2012 689 119 625 (627) 5,464 6,270 
Profit for the period — — — — 587 587 
Other comprehensive income:
– actuarial gain on defined benefit pension
scheme net of tax — — — — 137 137 
Total comprehensive income — — — — 724 724 
Transactions with owners:
– share-based payment transactions — — — — 9 9 
– deferred tax on share-based payment transactions — — — — 22 22 
– dividends paid — — — — (877) (877)
Total transactions with owners — — — — (846) (846)
Balance at 30 September 2013 689 119 625 (627) 5,342 6,148  33
Governance Financial statements Strategic report
Electronic Data Processing PLC Annual Report and Accounts 2013
Consolidated Cash Flow Statement
for the year ended 30 September 2013
2013 2012
£’000 £’000
Cash flows from operating activities
Profit/(loss) for the period 587 (57)
Adjustments for:
Depreciation 193 211 
Amortisation 158 160 
Net loss/(profit) on disposal of property, plant and equipment 2 (7)
Write-down of property values — 849 
Transfer of inventory from/(to) property, plant and equipment 5 (2)
Defined benefit pension charge net of employer contributions 93 48 
Finance income (85) (78)
Income tax expense/(credit) 207 (26)
Change in inventories (2) 6 
Change in receivables 1 (25)
Change in payables (116) 129 
Change in deferred income (162) (37)
Equity settled share-based payment transactions 9 8 
Cash received from operations 890 1,179 
Interest received 98 66 
Income taxes paid (173) (146)
Net cash from operating activities 815 1,099 
Cash flows from investing activities
Purchase of property, plant and equipment (235) (202)
Purchase of intangible assets (6) (3)
Development expenditure (118) (86)
Proceeds from sale of property, plant and equipment 440 31 
Net cash generated by/(used in) investing activities 81 (260)
Cash flows from financing activities
Dividends paid (877) (340)
Net cash used in financing activities (877) (340)
Net increase in cash and cash equivalents 19 499 
Cash and cash equivalents at beginning of period 5,648 5,149 
Cash and cash equivalents at end of period (note 14) 5,667 5,648  34 Electronic Data Processing PLC Annual Report and Accounts 2013
Notes to the Consolidated Financial Statements
(forming part of the financial statements)
1. Reporting entity
Electronic Data Processing PLC is a public limited company listed on the London Stock Exchange and incorporated and domiciled 
in England. The principal activity of the Company is the provision of computer software solutions. 
The address of the Company’s registered office is 4th Floor, Fountain Precinct, Balm Green, Sheffield S1 2JA. 
Statement of compliance 
The Group’s financial statements have been prepared and approved by the Directors in accordance with International Financial Reporting 
Standards as adopted by the EU (“adopted IFRS”) as they apply to the financial statements of the Group for the year ended 30 September 2013 
and applied in accordance with the provisions of the Companies Act 2006. The principal accounting policies of the Group are set out in 
note 2. The Company has elected to prepare its Parent Company financial statements in accordance with UK GAAP and these are presented 
on pages 49 to 57. The Company is taking advantage of the exemption in Section 408 of the Companies Act 2006 not to present its 
individual income statement and related notes. 
2. Significant accounting policies
The significant accounting policies set out below have, unless otherwise stated, been applied consistently to all periods presented 
in these Group financial statements. 
Basis of preparation 
The financial statements have been prepared in accordance with adopted IFRS and under the historical cost basis except as described 
elsewhere in note 2. 
Basis of consolidation 
The consolidated financial statements incorporate the accounts of Electronic Data Processing PLC and all its subsidiaries. Such accounts 
are all made up to 30 September 2013. 
Subsidiaries are entities controlled by the Group. Control exists when the Group has the power to govern the financial and operating 
policies of an entity so as to obtain benefits from its activities. In assessing control, potential voting rights that presently are exercisable 
are taken into account. The financial statements of subsidiaries are included in the consolidated financial statements from the date that 
control commences until the date that control passes. Intragroup balances, and any unrealised gains and losses or income and expenses 
arising from intragroup transactions, are eliminated in preparing the consolidated financial statements. 
Functional and presentational currency 
The financial statements are presented in sterling, which is the Group’s presentational currency. The Parent Company’s functional currency 
is sterling. All financial information presented in sterling has been rounded to the nearest thousand. 
Foreign currency 
Sales to overseas customers which are denominated in foreign currencies are translated into sterling at the exchange rate ruling at the date 
of the transaction. Monetary assets resulting from sales denominated in foreign currencies at the balance sheet date are retranslated into 
sterling at the exchange rate ruling at that date. Foreign exchange differences arising on translation are recognised in the income statement. 
Revenue 
The Group’s revenues derive from a number of sources which are described below. All revenue excludes value added tax and any sales 
between Group companies. Revenue relating to future periods is deferred. Revenue is recognised to the extent that it is probable 
the economic benefits will flow to the Group and the revenue can be reliably measured. 
The Group’s software revenues are broken down into initial licence fees, up-front hosting charges and recurring software usage charges. Initial 
licence fees are recognised as revenue in full on delivery of the software following receipt of a non-cancellable contract as the Group considers 
that at this point all of the significant risks and rewards of ownership of the licence have been transferred to the customer. Up-front hosting 
charges are recognised as revenue on provision of access to the Group’s servers following receipt of a signed non-cancellable contract. 
Recurring software usage charges and periodic hosting service charges are recognised evenly over the period to which they relate. 
Other software related revenues are mainly from the provision of professional services including implementation, training and consultancy. 
This revenue is recognised when the services have been performed. Sales of computer equipment are recognised on delivery to customers 
and equipment maintenance charges are recognised evenly over the period to which they relate. 
Property, plant and equipment 
Property, plant and equipment is stated at cost or deemed cost less accumulated depreciation and impairment losses. Land is not 
depreciated. The Directors assess the residual values and useful economic lives of the properties on an annual basis. Depreciation 
is provided so as to write off the cost, or deemed cost, less the estimated residual value of each asset in equal instalments over 
its estimated useful life from the time it becomes operational, at the following rates: 
Freehold property – 1 to 2%
Motor vehicles – 20 to 33%
Fixtures, fittings and equipment – 15 to 25%  35
Governance Financial statements Strategic report
Electronic Data Processing PLC Annual Report and Accounts 2013
2. Significant accounting policies continued
Software intellectual property rights 
Assets are initially carried at cost, including any incidental expenses of acquisition. Following initial recognition, they are carried at cost 
less any accumulated amortisation and accumulated impairment losses. Software intellectual property rights are amortised over a period 
of between four and ten years on a straight line basis and amortised from the time the software is brought into use. 
Research and development 
Expenditure on research activities, undertaken with the prospect of gaining new technical knowledge and understanding, is recognised 
in the income statement as incurred. 
Development activities involve a plan or design for the production of new or substantially improved products and processes. Development 
expenditure is capitalised only if development costs can be measured reliably, the product or process is technically and commercially 
feasible, future economic benefits are probable, and the Group intends to and has sufficient resources to complete development and to 
use or sell the asset. The expenditure capitalised includes the cost of materials, direct labour and overheads that are directly attributable 
to preparing the asset for its intended use. Other development expenditure not meeting these criteria is recognised in the income 
statement as incurred. 
Capitalised development expenditure is measured at cost less accumulated amortisation and accumulated impairment losses. 
Amortisation is based on the cost of an asset less its residual value. Capitalised software development costs are amortised over a period 
of between five and seven years on a straight line basis and amortised from the time the asset becomes available for use. 
Inventories 
Inventories are valued at the lower of purchase cost and net realisable value. 
Trade and other receivables 
Trade receivables, which generally have terms of up to 30 days, are recognised and carried at original invoice amount less an allowance 
for any uncollectable amounts. Provision is made where there is objective evidence that the Group will not be able to collect part or all 
of a debt. Bad debts are written off as identified. 
Cash and cash equivalents 
Cash and cash equivalents at the balance sheet date comprise cash on hand and short-term deposits, net of bank overdrafts. 
Assets held for sale 
A non-current asset is classified as held for sale if, at the balance sheet date, its carrying value will be recovered principally through sale 
rather than through continuing use, it is available for immediate sale and that sale is highly probable within one year. On initial classification 
as held for sale, non-current assets are measured at the lower of previous carrying amount and fair value less costs to sell, with any 
adjustments taken to the income statement. The same applies to gains and losses subsequent to re-measurement. 
Leasing transactions 
Operating lease rentals are charged to the income statement on a straight line basis over the period of the lease. 
Deferred income 
Deferred income represents that portion of licence fees, hosting charges and maintenance contracts taken out by customers but which 
relate to a future period. 
Taxes 
Tax on the Group’s profit or loss for the period comprises current and deferred tax. Tax is recognised in the income statement except 
to the extent that it relates to items recognised directly in equity, in which case it is recognised in equity. 
Current tax is the expected tax payable on the taxable income for the year, using tax rates enacted or substantively enacted at the balance 
sheet date, and any adjustments to tax payable in respect of prior years. 
Deferred tax is provided on the temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes 
and the amounts used for taxation purposes. The amount of deferred tax provided is based on the expected manner of realisation or 
settlement of the carrying amounts of assets and liabilities using tax rates enacted or substantively enacted at the balance sheet date. 
A deferred tax asset is recognised only to the extent that it is probable that future taxable profits will be available against which the asset 
can be utilised.  36 Electronic Data Processing PLC Annual Report and Accounts 2013
Notes to the Consolidated Financial Statements continued
(forming part of the financial statements)
2. Significant accounting policies continued
Employee benefits – pensions 
The Group operates both defined contribution and defined benefit pension schemes. The premiums relating to defined contribution 
schemes are charged to the income statement in the period in which they accrue. 
The Group’s net obligation in respect of its defined benefit pension scheme is calculated by estimating the amount of future benefit that 
employees have earned in return for their service in the current and prior periods. That benefit is discounted to determine its present value, 
and the fair value of the scheme assets are deducted. The calculation is performed by a qualified actuary using the projected unit credit method. 
Actuarial gains and losses occur when the actual returns on scheme assets differ from those previously expected by the actuary. 
All actuarial gains and losses as at 1 October 2004, being the date of transition to IFRS, were recognised in full. The Group recognises 
actuarial gains and losses arising subsequent to 1 October 2004 directly into equity through other comprehensive income in the period 
they occur. All other movements in the pension asset or liability are recognised in the income statement for the relevant period. 
Share-based payment transactions 
The Company operates a share option scheme for certain employees. The fair value of the share options is calculated at the date of grant 
using a Black-Scholes model. The fair value is then recognised as an employee expense on a straight line basis over the vesting period 
with a corresponding increase in equity. 
Equity 
The nature and purpose of each reserve included within equity is as follows: 
Share capital 
The balance classified as share capital includes the nominal value on issue of the Company’s equity share capital, comprising 5p ordinary shares. 
Share premium 
The balance classified as share premium represents the premium paid on the issue of the Company’s equity share capital. 
Capital redemption reserve 
The balance classified as capital redemption reserve represents the nominal value of issued share capital repurchased by the Company. 
Treasury shares 
When share capital recognised as equity is repurchased, the amount of the consideration paid, which includes directly attributable costs, 
net of any tax effects, is recognised as a deduction from equity. Repurchased shares classified as treasury shares are presented as a deduction 
from equity. When treasury shares are sold or reissued subsequently, the amount received is recognised as an increase in equity, 
and the resulting surplus or deficit on the transaction is transferred to or from retained earnings. 
Significant judgements and estimates 
Judgements and estimates made by the Directors in the application of these accounting policies may have a significant effect on the financial 
statements with a significant risk of material adjustment in the next year. The main areas of estimation and accounting judgement are: 
Employee benefits 
The calculation of the deficit or surplus on the Group’s defined benefit pension scheme is based on a number of actuarial assumptions 
including discount rate, future rate of inflation and future changes in mortality rates. These assumptions are reviewed regularly 
by the Directors with the scheme actuary. 
Software intellectual property rights 
The Group reviews annually the carrying value of assets to determine if there has been any impairment. These reviews require the use 
of estimates of the future cash flows generated by the asset. 
Freehold property valuation and classification 
The Group’s freehold property is stated at cost or deemed cost less accumulated depreciation and impairment losses. The Directors 
make judgements annually about the carrying value of freehold property and make estimates of residual values and useful economic lives. 
They also apply judgement about the likely timing of future disposals when determining which of the Group’s vacant properties should 
be re-classified as an asset held for sale. 
Development costs 
The Directors review annually the Group’s software development projects and assess which of those projects qualify for capitalisation 
under IAS 38. An assessment is made of projects capitalised in prior periods to determine if there has been any impairment. 
Revenue recognition 
The key area of judgement in respect of revenue recognition is the timing of recognition of software licensing and hosting revenues which 
involves assessing which revenues are recognised immediately and which are deferred and recognised over time.  37
Governance Financial statements Strategic report
Electronic Data Processing PLC Annual Report and Accounts 2013
2. Significant accounting policies continued
Financial risk management 
The Group has exposure to the following risks from its use of financial instruments: 
• credit risk;
• liquidity risk; and
• market risk.
This note presents material information about the Group’s exposure to each of the above risks, the Group’s objectives, policies and 
procedures for measuring and managing risk, and the Group’s management of capital. Further quantitative disclosures are included 
throughout these financial statements. 
The Board of Directors has overall responsibility for the establishment and overseeing of the Group’s risk management framework. 
The Group’s risk management policies are established to identify and analyse the risks faced by the Group, to set appropriate risk limits 
and controls, and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes 
in market conditions and the Group’s activities. The Group, through its training and management standards and procedures, aims to 
develop a disciplined and constructive control environment in which all employees understand their roles and obligations. 
Credit risk 
Credit risk is the risk of financial loss to the Group if a customer or counterparty to a financial instrument fails to meet its contractual 
obligations and arises principally from the Group’s receivables from customers and investments. The Group’s exposure to credit risk 
is influenced mainly by the individual characteristics of each customer and also the markets in which they operate. 
The Group is not exposed through a significant volume of sales transactions with any single customer. All new customers are reviewed 
before the Group’s standard payment and delivery terms and conditions are offered. The Group establishes an allowance for impairment 
that represents its estimate of incurred losses in respect of trade and other receivables on a line by line basis. 
The Group limits its exposure to credit risk by only investing surplus cash in recognised UK-based banks. 
Liquidity risk 
Liquidity risk is the risk that the Group will not be able to meet its financial obligations as they fall due. The Group is currently debt free and 
has significant cash resources. It therefore considers the risk to be low at the present time. The Group does not trade in financial instruments. 
Market risk 
Market risk is the risk that changes in market prices, such as foreign exchange and interest rates, will affect the Group’s income or the 
value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures 
within acceptable parameters, while optimising the return. 
The Group has a small number of customers based in the US who are invoiced in US dollars and one Swedish customer who is invoiced in 
euros. As these revenues represent approximately 3% of total turnover, the Group does not enter into any hedging transactions. All other 
Group sales to overseas customers are denominated in sterling and therefore they do not present a foreign currency risk. The Group does 
not have any significant monetary assets and liabilities that are not denominated in the functional currency of the operating unit involved. 
As the Group has significant cash deposits, changes in interest rates could have a significant impact on the Group’s results. 
Capital management 
The Board’s policy is to maintain a strong capital base, defined as total equity, so as to maintain investor, creditor and market confidence 
and to sustain future development of the business. 
Neither the Company nor any of its subsidiaries are subject to externally imposed capital requirements.  38 Electronic Data Processing PLC Annual Report and Accounts 2013
Notes to the Consolidated Financial Statements continued
(forming part of the financial statements)
2. Significant accounting policies continued
New standards not applied 
The IASB has issued the following standards with an effective date after the date of these financial statements and early adoption 
has not been applied: 
Effective for accounting 
periods beginning on or after
International Accounting Standards (IFRS/IAS)
IFRS 1 (amended March 2012) First Time Adoption of International Financial 
Reporting Standards 
1 January 2013
IFRS 7 (amended December 2011) Financial Instruments: Disclosures 1 January 2013 
IFRS 9 Financial Instruments 1 January 2015 
IFRS 10 Consolidated Financial Statements 1 January 2013 
IFRS 11 Joint Arrangements 1 January 2013 
IFRS 12 Disclosure of Interests in Other Entities 1 January 2013 
IFRS 13 Fair Value Measurement 1 January 2013 
IAS 19 (amended June 2011) Employee Benefits 1 January 2013 
IAS 27 Separate Financial Statements 1 January 2013 
IAS 28 Investments in Associates and Joint Ventures 1 January 2013 
IAS 32 (amended December 2011) Financial Instruments: Presentation 1 January 2014 
IAS 36 (amended May 2013) Impairment of Assets 1 January 2014
IAS 39 (amended June 2013) Financial Instruments: Recognition and Measurement 1 January 2014
Annual Improvements to IFRS 2009–2011 Cycle – various standards 1 January 2013 
IFRIC Interpretations 
IFRIC 21 Levies 1 January 2014
The Directors do not anticipate that the adoption of these standards will have a material effect on the Group’s financial statements 
in the period of initial application. 
3. Segmental analysis
The Group has identified its reportable segment based on the financial reports that internally are provided to the Group’s chief operating 
decision maker (CODM). In line with its management structure, the Executive Directors collectively make the key operating decisions and 
review internal monthly management accounts and budgets as part of this process. Accordingly, the Executive Directors collectively are 
considered to be the CODM. The information reported regularly to the CODM presents the Group as a single segment supplying software 
and related services to customers operating in similar markets. The Group’s software products share a common sales, development 
and implementation resource. Consequently the Group has determined that there is one operating segment and therefore one 
reportable segment, Software. 
Segment performance is measured based on segment profit before tax excluding IAS 19 defined benefit pension scheme adjustments 
and profits or losses on property disposals or revaluations. 
Software Software 
2013 2012 
£’000 £’000 
Revenue – external customers 5,827 5,805 
Profit
Adjusted operating profit 835 820 
Segment non-cash net IFRS charge (33) (77) 
Interest revenue 85 78 
Segment profit before tax 887 821 
Write-down of property values — (849) 
Defined benefit pension scheme charge net of employer contributions (93) (55) 
Consolidated profit/(loss) before tax 794 (83) 
Other segment items 
Interest revenue 85 78 
Depreciation and amortisation 351 371 
Capital expenditure 241 205  39
Governance Financial statements Strategic report
Electronic Data Processing PLC Annual Report and Accounts 2013
3. Segmental analysis continued
Geographical analysis 
Geographical segment revenues, based on the geographical location of customers, are as follows: 
2013 2012 
Revenue by destination £’000 £’000 
United Kingdom 5,601 5,643
Rest of the world 226 162 
5,827 5,805 
All of the Group’s non-current assets are located in the United Kingdom. 
4. Operating profit
2013 2012 
This is stated after charging: £’000 £’000 
Depreciation 193 211
Amortisation of intangible assets 158 160
Operating lease rentals: 
– plant and machinery 51 50
– property 186 194
Research and development expenditure 822 828 
5. Auditor’s remuneration
Amounts payable to the auditor in respect of both audit and non-audit services were as follows: 
2013 2012 
£’000 £’000 
Audit of these financial statements 18 18
Audit of financial statements of subsidiaries 12 12
Taxation services 13 11
Other services 6 10 
49 51 
6. Employee information
The average number of persons employed by the Group (including Executive Directors) during the year, analysed by category, was as follows:
Number of employees
2013 2012
Sales and administration 18 18 
Support, development and network services 52 50 
70 68 
The aggregate payroll costs of these persons were as follows:
2013 2012
£’000 £’000
Salaries 2,675 2,559 
Social security costs 312 301 
Other pension costs 104 108 
Equity settled share-based payment transactions 9 8 
3,100 2,976 
Aggregate Directors’ emoluments amounted to £607,675 (2012: £582,449). Details of Directors’ remuneration are given in the Directors’ 
Remuneration Report. Retirement benefits are accruing to four Directors (2012: four) under money purchase pension schemes and one 
Director (2012: one) under defined benefit pension schemes.  40 Electronic Data Processing PLC Annual Report and Accounts 2013
Notes to the Consolidated Financial Statements continued
(forming part of the financial statements)
7. Income tax
Income tax expense/(credit) comprises:
2013 2012
£’000 £’000
Current tax
United Kingdom corporation tax 176 182 
Tax over provided in prior years (6) (11)
Group current tax 170 171 
Deferred tax
Origination and reversal of temporary differences 11 (6)
Effect of decrease in the tax rate 22 17 
Adjustments in respect of prior years 4 (208)
Group deferred tax 37 (197)
Income tax expense/(credit) 207 (26)
Factors affecting the tax charge for the year 
The tax assessed for the year differs from the standard rate of corporation tax in the UK of 23.5% (2012: 25%). The differences 
are explained below: 
2013 2012
£’000 £’000
Profit/(loss) before tax 794 (83)
Profit/(loss) multiplied by standard rate of corporation tax of 23.5% (2012: 25%) 187 (21)
Effects of:
Expenses not deductible for tax purposes 6 18 
Benefit of small companies rate of tax and marginal relief (6) (7)
Write-down of non-qualifying assets — 186 
Corporation tax – adjustment in respect of prior periods (6) (11)
Deferred tax – adjustment in respect of prior periods 4 (208)
Deferred tax – effect of rate change 22 17 
Total income tax expense/(credit) 207 (26)
No provision has been made for a deferred tax asset in the form of future capital losses on the disposal of the Group’s freehold property 
which is shown in assets held for sale as there is significant uncertainty as to whether such losses would be utilised in the future. 
Factors affecting future tax charges 
The March 2013 Budget announced that the UK rate of corporation tax will reduce to 20% by 2015 in addition to the planned reduction 
to 21% by 2014 previously announced in the December 2012 Autumn Statement. 
This will reduce the Group’s future tax charge accordingly. 
The Group had no unutilised trading tax losses carried forward at 30 September 2013 (2012: £nil). 
8. Earnings per share
Earnings per share is calculated by dividing the profit for the period attributable to equity holders of the parent of £587,000 (2012: loss of £57,000) 
by 12,530,976 (2012: 12,530,976), being the weighted average number of shares in issue during the year. 
Basic earnings per share is 4.68p (2012: loss of 0.45p). 
For diluted earnings per share, the weighted average number of shares in issue is adjusted to assume conversion of all dilutive potential 
ordinary shares. The Company has one class of dilutive potential ordinary share which is share options granted to employees under its 
Enterprise Management Incentive Share Option plan. These shares have been included in the diluted earnings per share calculation. 
Diluted earnings per share is calculated by dividing the profit after tax of £587,000 (2012: loss of £57,000) by 12,666,864 (2012: 12,530,976), 
being the weighted average number of shares in issue adjusted for the effects of all dilutive potential ordinary shares. 
Diluted earnings per share is 4.63p (2012: loss of 0.45p).  41
Governance Financial statements Strategic report
Electronic Data Processing PLC Annual Report and Accounts 2013
9. Dividends paid and proposed
The following dividends were declared and paid during the year:
2013 2012
£’000 £’000
Final dividend for 2012 – 2.000p (2011: 2.000p) 251 251
Interim dividend for 2012 – 0.713p — 89
Special interim dividend for 2013 – 5.000p 626 —
877 340 
Proposed for approval by shareholders at the AGM
Final dividend for 2013 – 2.000p (2012: 2.000p) 251 251
10. Property, plant and equipment
Fixtures, 
Freehold Motor fittings and
property vehicles equipment Total
£’000 £’000 £’000 £’000
Cost 
At 1 October 2012 1,388 204 1,557 3,149 
Additions — 62 173 235 
Transfers from stock — — 2 2 
Disposals — — (46) (46)
At 30 September 2013 1,388 266 1,686 3,340 
Depreciation
At 1 October 2012 259 63 1,119 1,441 
Charge for the year 14 44 135 193 
Transfers from stock — — 7 7 
Disposals — — (44) (44)
At 30 September 2013 273 107 1,217 1,597 
Net book value
At 30 September 2013 1,115 159 469 1,743 
Cost 
At 1 October 2011 4,843 196 1,558 6,597 
Additions — 109 93 202 
Transfers from stock — — 4 4 
Transfer to assets held for sale (3,455) — (13) (3,468)
Disposals — (101) (85) (186)
At 30 September 2012 1,388 204 1,557 3,149 
Depreciation
At 1 October 2011 965 107 1,074 2,146 
Charge for the year 48 35 128 211 
Transfers from stock — — 2 2 
Transfer to assets held for sale (754) — (2) (756)
Disposals — (79) (83) (162)
At 30 September 2012 259 63 1,119 1,441 
Net book value
At 30 September 2012 1,129 141 438 1,708  42 Electronic Data Processing PLC Annual Report and Accounts 2013
Notes to the Consolidated Financial Statements continued
(forming part of the financial statements)
11. Intangible assets
Software 
intellectual Development
property rights costs Total
£’000 £’000 £’000
Cost
At 1 October 2012 1,755 150 1,905 
Additions – internally developed — 118 118 
Additions – purchased 6 — 6 
At 30 September 2013 1,761 268 2,029 
Amortisation 
At 1 October 2012 1,536 13 1,549 
Charge for the year 137 21 158 
At 30 September 2013 1,673 34 1,707 
Net book value 
At 30 September 2013 88 234 322 
Cost
At 1 October 2011 1,752 73 1,825 
Additions – internally developed — 86 86 
Additions – purchased 3 — 3 
Deletions — (9) (9)
At 30 September 2012 1,755 150 1,905 
Amortisation 
At 1 October 2011 1,393 5 1,398 
Charge for the year 143 17 160 
Deletions — (9) (9)
At 30 September 2012 1,536 13 1,549 
Net book value 
At 30 September 2012 219 137 356 
The amortisation charge is included within administrative expenses within the consolidated income statement. 
The net book value of software intellectual property rights at 30 September 2013 includes an amount of £78,000 relating to the Group’s 
Vecta software. The remaining period of amortisation is 0.6 years. 
12. Inventories
2013 2012 
£’000 £’000 
Computer equipment 81 79 
13. Trade and other receivables
2013 2012 
£’000 £’000 
Trade receivables 1,161 1,175 
Other receivables 376 376 
1,537 1,551 
14. Cash and cash equivalents
2013 2012 
£’000 £’000 
Bank balances 53 435 
Short-term deposits 5,614 5,213 
5,667 5,648  43
Governance Financial statements Strategic report
Electronic Data Processing PLC Annual Report and Accounts 2013
15. Assets held for sale
2013 2012 
£’000 £’000 
At 1 October 1,863 —
Transferred in from property, plant and equipment:
– freehold property — 2,701
– fixtures, fittings and equipment — 11 
1,863 2,712 
Disposal (440) —
Write-down — (849) 
At 30 September 1,423 1,863 
The balance at 30 September 2013 represents the expected net sales proceeds of the Group’s vacant property at Milton Keynes 
and on which an offer to purchase has been accepted from a third party. 
16. Deferred income
This represents the portion of annual licence fees, hosting charges and maintenance contracts taken out by customers but which relate 
to a future period. 
2013 2012 
£’000 £’000 
To be recognised:
– within one year 2,291 2,403 
– after more than one year 57 107 
2,348 2,510 
17. Trade and other payables
2013 2012
£’000 £’000
Trade payables 555 623 
Other payables 640 688 
1,195 1,311 
18. Financial instruments
The Group’s financial instruments comprise cash and liquid resources, and various items, such as trade receivables, trade payables, etc., 
that arise directly from its operations. There is no material difference between book value and fair value of these financial instruments. 
Bank deposits are invested at a variable interest rate based on base rate. This position is constantly monitored by the Board. 
Undrawn committed facilities 
At 30 September 2013 the Group had undrawn committed borrowing facilities amounting to £500,000 (2012: £500,000). Such facilities 
expire within one year and are subject to review. 
Credit risk 
The carrying amount of financial assets represents the maximum credit exposure. The maximum exposure to credit risk at the reporting date was: 
Carrying amount
2013 2012
£’000 £’000
Trade receivables 1,161 1,175
Cash and cash equivalents 5,667 5,648
6,828 6,823 44 Electronic Data Processing PLC Annual Report and Accounts 2013
Notes to the Consolidated Financial Statements continued
(forming part of the financial statements)
18. Financial instruments continued
Credit risk continued
The ageing of trade receivables at the reporting date was: 
2013 2012
Gross Impairment Gross Impairment 
£’000 £’000 £’000 £’000
Not past due 623 — 794 —
Past due 0–30 days 232 — 181 —
Past due 31–120 days 180 8 106 2 
Past due 121–360 days 54 — 68 3 
More than one year 162 82 148 117 
1,251 90 1,297 122 
The movement in the allowance for impairment in respect of trade receivables during the year was as follows: 
2013 2012
£’000 £’000
Balance at 1 October 122 131
Reversal of prior year impairment losses (4) —
Previously impaired balances written off (42) (22)
Impairment loss recognised 14 13 
Balance at 30 September 90 122
The impairment loss for the year relates to specific customers who have purchased software solutions and management considers 
there to be a risk in collecting the outstanding balances. 
There is no additional risk that warrants disclosure concerning trade receivables that are neither past due nor impaired. 
Liquidity risk 
The following are the contractual maturities of financial liabilities, including estimated interest payments and excluding the impact 
of netting agreements: 
At 30 September 2013
Carrying Contractual 6 months More than
amount cash flows or less 6–12 months one year
£’000 £’000 £’000 £’000 £’000
Trade and other payables 1,195 1,195 1,195 — —
Income tax payable 177 177 — 177 —
Deferred income 2,348 — 1,611 680 57
3,720 1,372 2,806 857 57
At 30 September 2012
Carrying Contractual 6 months More than
amount cash flows or less 6–12 months one year
£’000 £’000 £’000 £’000 £’000
Trade and other payables 1,311 1,311 1,311 — —
Income tax payable 182 182 — 182 —
Deferred income 2,510 — 1,654 749 107
4,003 1,493 2,965 931 107
Interest rate risk 
At the reporting date the Group’s interest bearing financial instruments were: 
Carrying amount 
2013 2012
£’000 £’000
Variable rate financial assets 5,667 5,648 45
Governance Financial statements Strategic report
Electronic Data Processing PLC Annual Report and Accounts 2013
18. Financial instruments continued
Interest rate risk continued 
Sensitivity analysis 
The majority of cash balances throughout the year are held on deposit at competitive market rates. A 1% fluctuation in interest rates on 
the year end cash balance would have an approximate impact of £57,000 (2012: £56,000) on finance income with a corresponding £13,000 
(2012: £14,000) impact on income tax expense. 
19. Employee benefits – pensions
The Group operates both defined benefit and defined contribution pension schemes. 
Defined contribution pension schemes 
The Group operates a number of defined contribution pension schemes, the principal scheme being a grouped personal pension scheme 
through an insurance company. The pension costs of these arrangements were £50,000 (2012: £50,000). Outstanding contributions 
at the end of the year were £7,000 (2012: £7,000). 
Defined benefit pension scheme 
The Group operates a defined benefit scheme called the Electronic Data Processing PLC Pension and Life Assurance Scheme (“the Scheme”). 
The last full actuarial valuation of the Scheme was performed at 1 August 2010 by a professionally qualified actuary. 
Members have paid contributions at a rate in line with the recommendations of the actuary over the accounting period. 
The Group’s policy for recognising actuarial gains and losses is to recognise them immediately through other comprehensive income. 
The full actuarial valuation of the Scheme was updated on an IAS 19 basis at 30 September 2013 by JLT Benefit Solutions Limited using 
the following assumptions: 
2013 2012 2011 
Inflation rate 2.5% 1.9% 2.3% 
Discount rate 4.5% 4.4% 5.25% 
Expected return on assets 4.5% 4.4% 5.25% 
Rate of increase in pay 3.0% 3.0% 3.0% 
Rate of increase of pensions in payment 5.0% 5.0% 5.0% 
Rate of increase for deferred pensioners 2.5% 1.9% 2.3% 
The most significant non-financial assumption is the rate of post retirement mortality . For the period ended 30 September 2013, 
this is based on the standard tables known as S1PMA/S1PFA for males/females (2012: S1PMA/S1PFA for males/females). 
These tables produce life expectancy at age 65 of 22.4 years (2012: 22.5 years) for males and 24.7 years (2012: 24.7 years) for females. 
The assumed rate of return on bonds is the yield available on AA-rated corporate bonds at 30 September 2013. The Scheme’s assets 
are invested in insurance policies in which the underlying assets comprise wholly of corporate bonds and the expected return on assets 
is based on the yield available on AA-rated corporate bonds. 
Categories of assets 
2013 2012 2011
Bonds 100% 100% 100%
Funding status
2013 2012 2011
£’000 £’000 £’000
Present value of Scheme obligations (8,124) (7,903) (6,586)
Fair value of Scheme assets 7,080 6,783 6,358
Deficit (1,044) (1,120) (228)
Amounts recognised in the income statement
The following amounts have been included within administrative expenses within the consolidated income statement:
2013 2012
£’000 £’000
Current service cost 74 71 
Interest cost 345 345 
Expected return on assets (295) (331)
124 85  46 Electronic Data Processing PLC Annual Report and Accounts 2013
Notes to the Consolidated Financial Statements continued
(forming part of the financial statements)
19. Employee benefits – pensions continued
Amounts recognised in other comprehensive income
2013 2012
£’000 £’000
Actuarial gains/(losses) in period 169 (844)
Cumulative actuarial gains at beginning of period 54 898 
Cumulative actuarial gains at end of period 223 54 
Reconciliation of present value of Scheme obligations
2013 2012
£’000 £’000
Present value of obligations at 1 October 7,903 6,586
Interest cost 345 345
Current service cost 83 81
Benefits paid including transfers out (215) (140)
Actuarial loss 8 1,031 
Present value of obligations at 30 September 8,124 7,903
Reconciliation of the fair value of Scheme assets
2013 2012
 £’000 £’000
Fair value of assets at 1 October 6,783 6,358
Expected return on plan assets 295 331
Contributions 40 47
Benefits paid including transfers out (215) (140)
Actuarial gain 177 187 
Fair value of assets at 30 September 7,080 6,783
Actuarial gains and losses
2013 2012
 £’000 £’000
Change of assumptions 46 943 
Experience (gain)/loss on Scheme obligations (38) 88 
Actuarial loss on Scheme obligations 8 1,031 
Change of assumptions (11) 237 
Experience gain/(loss) on Scheme assets 188 (50)
Actuarial gain on Scheme assets 177 187 
Historical information
2013 2012 2011 2010 2009
£’000 £’000 £’000 £’000 £’000
Present value of the defined benefit obligation (8,124) (7,903) (6,586) (6,699) (6,834)
Fair value of plan assets 7,080 6,783 6,358 6,335 7,053 
(Deficit)/surplus in the plan (1,044) (1,120) (228) (364) 219 
Experience adjustments arising on plan liabilities 38 (88) 45 (74) 9 
Experience adjustments arising on plan assets 188 (50) (114) (257) (241)
Estimated contribution in the financial year starting 1 October 2013 
Estimated contributions to the Group Scheme for the year commencing 1 October 2013 are £31,000.  47
Governance Financial statements Strategic report
Electronic Data Processing PLC Annual Report and Accounts 2013
20. Deferred income tax
The deferred income tax included in the Group income statement is as follows: 
2013 2012
£’000 £’000
Origination and reversals of temporary differences 11 (6)
Effect of decrease in the tax rate 22 17 
Adjustments in respect of prior periods 4 (208)
37 (197)
The deferred income tax included in the Group balance sheet is as follows:
2013 2012
£’000 £’000
Taxation deferred by capital allowances (60) (51)
Temporary differences – other (10) (19)
Taxation on pension liability 209 258 
Deferred income tax 139 188 
Deferred income tax asset 209 258
Deferred income tax liability (70) (70)
139 188 
21. Share capital
Ordinary shares of 5p each
2013 2012 2013 2012 
Number Number £’000 £’000 
Allotted, called up and fully paid:
At 1 October and 30 September 13,784,073 13,784,073 689 689 
Less: held in treasury (1,253,097) (1,253,097) (63) (63) 
Issued share capital excluding treasury shares 12,530,976 12,530,976 626 626 
Each holder of an ordinary share is entitled to one vote for each share held at all meetings of shareholders and will be entitled to any 
dividends declared by the Board of Directors with the exception of treasury shares which do not carry any voting or dividend rights. 
Treasury shares 
Ordinary shares of 5p each
2013 2012 2013 2012
Number Number £’000 £’000
Market purchases (April 2009 – 50p) 1,253,097 1,253,097 627 627
Share options 
The Company operates an Enterprise Management Incentive (EMI) Share Option Plan for Directors and other senior employees. 
Details of options granted to Directors on 30 September 2010 are given in the Directors’ Remuneration Report. A further 45,000 options 
were granted to other employees on 30 September 2010 and 45,000 options were granted to other employees on 5 February 2013. 
The key terms, exercise price and required service period for these share options are the same as those granted to the Directors. 
The fair value of EMI share options calculated at the grant date was 4.5p for those options granted on 30 September 2010 and 9.6p 
for those options granted on 5 February 2013. The main inputs in the calculation were: 
Options 
granted on
30 September 
2010
Options 
granted on 
5 February 
2013
Share price volatility 21.91% 25.62%
Dividend yield 5.59% 4.46%
Risk-free interest rate 2.16% 3.04%
Expected option maturity 6.5 years 6.5 years
There are no other share option plans in operation.  48 Electronic Data Processing PLC Annual Report and Accounts 2013
Notes to the Consolidated Financial Statements continued
(forming part of the financial statements)
22. Lease obligations 
Operating leases 
At 30 September 2013 the Group had a total of future minimum commitments under non-cancellable operating leases on land 
and buildings as follows: 
2013 2012
£’000 £’000
Within one year 184 173 
In the second to fifth years inclusive 139 250 
323 423 
23. Contingent liabilities 
The Group is party to claims which have arisen from normal trading activities. The outcome of these disputes cannot be forecast 
with certainty, but the Directors believe that the outcome will have no material effect on the Group’s net assets. 
24. Group entities 
Subsidiary companies at 30 September 2013, all of which were holdings of 100% of the ordinary share capital, were: 
Place of
registration
Trading
BML (Office Computers) Ltd England
BCT Software Solutions Ltd England
Disys Associates Ltd England
Vecta Sales Solutions Ltd England
Non-trading
Business Computer Services Ltd England
Business Computer Systems PLC England
Business Computers Ltd England
fastfreenet.com Ltd England
Electronic Data Processing Systems Ltd England
Ibex Computer Services Ltd Isle of Man
All the subsidiaries’ activities are conducted in the United Kingdom. 
The principal activity of all trading companies within the Group is the sale of computer software and related services.  49
Governance Financial statements Strategic report
Electronic Data Processing PLC Annual Report and Accounts 2013
2013 2012
Note £’000 £’000
Fixed assets
Intangible assets 3 10 9 
Tangible assets 4 3,147 3,568 
Investments 5 3,598 3,598 
6,755 7,175 
Current assets
Stock 6 61 60 
Debtors 7 518 652 
Cash at bank and in hand 5,629 5,272 
6,208 5,984 
Creditors:
amounts falling due within one year 8 (5,502) (4,957)
Net current assets 706 1,027 
Total assets less current liabilities 7,461 8,202 
Provisions for liabilities and charges 9 (63) (56)
Deferred income 10 (719) (793)
Net assets excluding pension liability 6,679 7,353 
Pension liability 11 (835) (862)
Net assets including pension liability 5,844 6,491 
Capital and reserves
Called up share capital 12 689 689 
Share premium account 119 119 
Revaluation reserve 13 305 308 
Capital redemption reserve 625 625 
Treasury shares 12 (627) (627)
Profit and loss account 14 4,733 5,377 
Equity shareholders’ funds 5,844 6,491 
These financial statements were approved by the Board of Directors on 16 December 2013 and were signed on its behalf by: 
Sir Michael Heller Julian Wassell
Directors
Electronic Data Processing PLC, registered number 853560 
Company Balance Sheet
at 30 September 2013 50 Electronic Data Processing PLC Annual Report and Accounts 2013
Notes to the Company Financial Statements
(forming part of the financial statements)
1. Accounting policies
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain land 
and buildings and in accordance with applicable accounting standards. The following principal accounting policies have been applied 
consistently in dealing with items that are considered material in relation to the Company’s financial statements. 
Investments in subsidiaries 
Investments in subsidiary undertakings are stated at cost less any diminution in value. 
Intangible fixed assets
The cost of intangible fixed assets is their purchase cost together with any incidental expenses of acquisition and is amortised over a period 
of between four and ten years on a straight line basis. In the case of software intellectual property rights, amortisation commences from 
the time the software is brought into use. 
The Directors review the useful economic lives of the intangible fixed assets at each reporting date and revise them as necessary 
in accordance with FRS 10. 
Tangible fixed assets
Depreciation is provided so as to write off the cost or valuation less the estimated residual value of each tangible fixed asset in equal 
instalments over its estimated useful life from the time it becomes operational at the following rates: 
Freehold property  –  1 to 2% 
Motor vehicles  –  20 to 33% 
Fixtures, fittings and equipment  –  15 to 25% 
The Company applied the transitional provisions of FRS 15 ‘Tangible Fixed Assets’ during a previous year. 
Foreign currency 
Assets and liabilities expressed in foreign currencies are translated into sterling at year end rates. All trading exchange differences 
are taken to the profit and loss account. 
Deferred tax 
Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation 
and accounting purposes which have arisen but not reversed by the balance sheet date, except as otherwise required by FRS 19. 
Deferred tax assets are only recognised where, on the basis of all available evidence, it is more likely than not that there will be suitable 
taxable profits from which they can be recovered. 
Research and development 
Research and development costs relating to software products are written off in the year in which they are incurred. 
Leasing transactions 
Operating lease rentals are charged to the profit and loss account on a straight line basis over the period of the lease. 
Stock 
Stock is valued at the lower of purchase cost and net realisable value. 
Deferred income 
Deferred income represents that portion of licence fees, hosting charges and maintenance contracts taken out by customers but which 
relate to a future period. 
Pensions 
The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company 
in an independently administered fund. The amount charged to the profit and loss account represents the contributions payable to the scheme 
in respect of the accounting period. 
The Company also operates a pension scheme providing benefits based on final pensionable pay . The assets of the scheme are held 
separately from those of the Company. 
Pension scheme assets are measured using market values. Pension scheme liabilities are measured using the projected unit method 
and discounted at the current rate of return on a high quality corporate bond of equivalent term and currency to the liability. 
The pension scheme surplus or deficit is recognised in full. The movement in the scheme surplus or deficit is split between operating 
charges, other financial items and, in the statement of total recognised gains and losses, actuarial gains and losses.  51
Governance Financial statements Strategic report
Electronic Data Processing PLC Annual Report and Accounts 2013
1. Accounting policies continued
Treasury shares
When share capital recognised as equity is repurchased, the amount of the consideration paid, which includes directly attributable costs, 
net of any tax effects, is recognised as a deduction from equity. Repurchased shares are classified as treasury shares and are presented 
as a deduction from equity. When treasury shares are sold or reissued subsequently, the amount received is recognised as an increase 
in equity and the resulting surplus or deficit on the transaction is transferred to or from retained earnings. 
2. Employee information
The average number of persons employed by the Company (including Executive Directors) during the year, analysed by category, was as follows: 
Number of employees
2013 2012 
Sales and administration 13 13 
Support, development and network services 34 31 
47 44 
The aggregate payroll costs of these persons were as follows:
2013 2012
£’000 £’000
Salaries 1,764 1,628 
Social security costs 195 183 
Other pension costs 65 68 
2,024 1,879 
Aggregate Directors’ emoluments amounted to £607,675 (2012: £582,449). Details of Directors’ remuneration are given in the Directors’ 
Remuneration Report. 
3. Intangible assets
Software
intellectual
property rights
£’000
Cost
At 1 October 2012 838 
Additions 6 
At 30 September 2013 844 
Amortisation 
At 1 October 2012 829 
Charge for the year 5 
At 30 September 2013 834 
Net book value 
At 30 September 2013 10 
At 30 September 2012 9  52 Electronic Data Processing PLC Annual Report and Accounts 2013
Notes to the Company Financial Statements continued
(forming part of the financial statements)
4. Tangible fixed assets
Freehold Motor 
Fixtures, 
fittings and
property vehicles equipment Total 
£’000 £’000 £’000 £’000 
Cost or valuation 
At 1 October 2012 3,816 204 1,503 5,523 
Additions — 62 173 235 
Transfers from stock — — 2 2 
Disposals (1,005) — (60) (1,065) 
At 30 September 2013 2,811 266 1,618 4,695 
Depreciation 
At 1 October 2012 824 63 1,068 1,955 
Charge for the year 33 43 132 208 
Transfers from stock — — 7 7 
Disposals (565) — (57) (622) 
At 30 September 2013 292 106 1,150 1,548 
Net book value 
At 30 September 2013 2,519 160 468 3,147 
At 30 September 2012 2,992 141 435 3,568 
All the freehold property belonging to the Company at 30 September 1988 was professionally valued at that date on an open market value 
for existing use basis. The 1988 valuation was incorporated in the financial statements with the surplus on valuation being credited 
to a revaluation reserve. 
The 1988 valuation was updated in 2012 to take account of the Directors’ best estimates of the net realisable value of those freehold 
properties that are no longer used by the Company and that are available for sale. For those properties stated at cost the resulting 
impairment loss was recognised in the profit and loss account. For those properties stated at valuation, the resulting impairment loss 
was recognised against the revaluation reserve. 
Freehold property may be analysed between that included at valuation and that subsequently acquired at cost, as follows: 
2013 2012
£’000 £’000
At 2012 valuation 1,423 1,423 
At cost 1,388 2,393 
2,811 3,816 
The net historical cost of freehold property is as follows:
2013 2012
£’000 £’000
Cost 2,881 3,886 
Impairment — (399)
Accumulated depreciation (671) (807)
Net book value 2,210 2,680  53
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Electronic Data Processing PLC Annual Report and Accounts 2013
5. Investments in subsidiary undertakings
Details of the Company’s subsidiary undertakings can be found in note 24 to the Group’s financial statements. 
Shares in
Group
undertakings
£’000
Cost
At 1 October 2012 and 30 September 2013 3,598
Provision for diminution in value
At 1 October 2012 and 30 September 2013 —
Net book value
At 1 October 2012 and 30 September 2013 3,598
6. Stock
2013 2012
£’000 £’000
Computer equipment 61 60 
7. Debtors
2013 2012
£’000 £’000
Trade debtors 242 389 
Other debtors 2 15 
Prepayments and accrued income 274 248 
518 652 
There are no debtors recoverable after more than one year (2012: nil). 
8. Creditors: amounts falling due within one year
2013 2012
£’000 £’000
Trade creditors 422 451 
Amounts owed to subsidiary undertakings 4,741 4,123 
Corporation tax 58 69 
Other taxes and social security 137 172 
Other creditors 144 142 
5,502 4,957 
Details of financial instruments are set out in note 18 to the Group’s financial statements.  54 Electronic Data Processing PLC Annual Report and Accounts 2013
Notes to the Company Financial Statements continued
(forming part of the financial statements)
9. Provisions for liabilities and charges
2013 2012
£’000 £’000
Deferred taxation 63 56
Accelerated
capital
allowances
£’000
At 1 October 2012 56 
Transfer to profit and loss account 7 
At 30 September 2013 63 
The Company has, in accordance with the provisions of FRS 19, recognised deferred tax liabilities in respect of accelerated capital allowances. 
10. Deferred income
This represents the portion of annual licence fees, hosting charges and maintenance contracts taken out by customers that relate 
to a future period. 
2013 2012
£’000 £’000
To be recognised:
– within one year 718 791 
– after more than one year 1 2 
719 793 
11. Pensions
The Company operates both defined benefit and defined contribution pension schemes. 
Defined benefit pension scheme 
The Company operates a defined benefit pension scheme which is based on final pensionable pay . 
The most recent full actuarial valuation of the scheme took place on 1 August 2010. 
The assumptions used in the 2010 valuation of the scheme were as follows: 
Investment return – 4.9% per annum
Increase in pensions in payment  –  5.0% per annum 
Increase in salaries – 2.7% per annum
The 1 August 2010 valuation was updated on an FRS 17 basis at 30 September 2013 by JLT Benefit Solutions Limited. The major 
assumptions used by the actuary at 30 September 2013 were: 
Financial assumptions 
2013 2012 2011 
Inflation 2.5% 1.9% 2.3% 
Rate of salary increase 3.0% 3.0% 3.0% 
Rate of increase of pensions in payment 5.0% 5.0% 5.0% 
Rate of revaluation of deferred pensions 2.5% 1.9% 2.3% 
Discount rate 4.5% 4.4% 5.25% 
The valuation method used was the projected unit method.  55
Governance Financial statements Strategic report
Electronic Data Processing PLC Annual Report and Accounts 2013
11. Pensions continued
Pension liability 
The fair value of the scheme assets and the present value of the scheme liabilities were: 
2013 2012 2011 
£’000 £’000 £’000 
Fair value of scheme assets 7,080 6,783 6,358 
Present value of scheme liabilities (8,124) (7,903) (6,586) 
Deficit in the scheme – pension liability (1,044) (1,120) (228) 
Related deferred tax asset 209 258 57 
Net pension liability (835) (862) (171) 
The scheme assets are invested in an insurance policy and are wholly comprised of bonds. 
The expected rates of return on the assets in the scheme were: 
2013 2012 2011
Bonds 4.5% 4.4% 5.25%
Movement in the deficit during the year 
2013 2012
£’000 £’000
Deficit at beginning of year (1,120) (228)
Current service cost (74) (71)
Contributions 31 37 
Other financial items (50) (14)
Actuarial gain/(loss) 169 (844)
Deficit at end of year (1,044) (1,120)
Analysis of other pension costs charged in arriving at operating profit 
2013 2012
£’000 £’000
Current service cost 74 71 
Analysis of amounts included in other finance income
2013 2012
£’000 £’000
Expected return on pension scheme assets 295 331 
Interest on pension scheme liabilities (345) (345)
(50) (14) 56 Electronic Data Processing PLC Annual Report and Accounts 2013
Notes to the Company Financial Statements continued
(forming part of the financial statements)
11. Pensions continued
Analysis of amounts recognised in statement of total recognised gains and losses
2013 2012
£’000 £’000
Actual return less expected return on scheme assets 188 204 
Experience gains and losses arising on scheme assets (11) —
Experience gains and losses arising on scheme liabilities 38 (88)
Changes in assumptions underlying the present value of scheme liabilities (46) (960)
Actuarial gain/(loss) recognised in the statement of total recognised gains and losses 169 (844)
History of experience gains and losses 
2013 2012 2011 2010 2009
Difference between the expected and actual return on scheme 
assets
Amount (£’000) 188 204 (188) (154) (241)
Percentage of year end scheme assets 2.7 3.0 (2.9) (2.4) (3.4)
Experience gains and losses on scheme liabilities
Amount (£’000) 38 (88) 45 (74) 9 
Percentage of year end present value of scheme liabilities (0.5) 1.1 (0.6) 1.1 (0.1)
Total amount recognised in statement of total 
recognised gains and losses
Amount (£’000) 169 (844) 230 (535) (1,235)
Percentage of year end present value of scheme liabilities (2.1) 10.7 (3.5) 8.4 18.1 
Defined contribution pension schemes 
The Company operates a number of defined contribution pension schemes, the principal scheme being a grouped personal pension 
scheme through an insurance company. The pension costs of these arrangements were £21,000 (2012: £20,000). There were outstanding 
contributions of £3,000 at the end of the year (2012: £3,000). 
12. Share capital
Details of the Company’s share capital and treasury shares are given in note 21 to the Group’s financial statements. 
13. Revaluation reserve
2013 2012
£’000 £’000
At 1 October 308 756 
Transfer to profit and loss reserve – depreciation (3) (9)
Valuation adjustment on freehold property — (439)
At 30 September 305 308  57
Governance Financial statements Strategic report
Electronic Data Processing PLC Annual Report and Accounts 2013
14. Profit and loss reserve
2013 2012
£’000 £’000
At 1 October 5,377 6,364 
Profit/(loss) for the year 93 (24)
Dividends (877) (340)
Transfer from revaluation reserve – depreciation 3 9 
Actuarial gain/(loss) on pension 169 (844)
Tax on actuarial (gain)/loss (32) 212 
At 30 September 4,733 5,377 
15. Commitments and contingencies
Operating leases 
The commitment to payments within the next twelve months is as follows: 
2013 2012
£’000 £’000
Property
Leases that expire:
– within one year — 7
– after five years 52 52 
52 59 
16. Reconciliation of movements in shareholders’ funds
2013 2012
£’000 £’000
Profit/(loss) for the year 93 (24) 
Dividends (877) (340) 
Retained loss for the year (784) (364) 
Valuation adjustment on freehold property — (439) 
Actuarial gain/(loss) on pension net of tax 137 (632) 
Net decrease in shareholders’ funds (647) (1,435) 
Opening shareholders’ funds 6,491 7,926 
Closing shareholders’ funds 5,844 6,491  58 Electronic Data Processing PLC Annual Report and Accounts 2013
Five Year Statistical Record
Summarised financial information for the Group for the five years ended 30 September 2013 is set out below . 
Year to 30 September
2013 2012 2011 2010 2009
£’000 £’000 £’000 £’000 £’000
Revenue 5,827 5,805 5,600 5,580 5,844 
Gross profit 5,419 5,334 5,272 5,258 5,434 
Administrative expenses (4,710) (4,646) (4,766) (4,705) (5,087)
Operating profit 709 688 506 553 347 
Profit on sale of property — — 335 — —
Write-down of property values — (849) — — —
Finance income 85 78 55 31 109 
Profit/(loss) before tax 794 (83) 896 584 456 
Income tax (expense)/credit (207) 26 (158) (160) (129)
Profit/(loss) for the period 587 (57) 738 424 327 
Earnings/(loss) per share 4.68p (0.45)p 5.89p 3.38p 1.74p
Adjusted earnings per share* 4.68p 4.66p 3.22p 3.38p 1.74p
Net assets per share 49.1p 50.0p 58.2p 53.4p 55.9p
* Adjusted earnings per share excludes profits and losses on property disposals and revaluations and any related deferred tax effects.   4th Floor, Fountain Precinct, Balm Green, Sheffield S1 2JA 
Telephone: 0114 262 2000
www.edp.co.uk
Electronic Data Processing PLC Annual Report and Accounts 2013