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REGISTERED NUMBER: 04553341















Strategic Report, Directors' Report and

Financial Statements for the Year Ended 30 June 2023

for

Liberty Guard (UK) Limited

Liberty Guard (UK) Limited (Registered number: 04553341)

Contents of the Financial Statements
for the Year Ended 30 June 2023










Page

Company Information 1

Strategic Report 2

Directors' Report 4

Statement of Directors' Responsibilities 5

Report of the Independent Auditors 6

Income Statement 9

Other Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Notes to the Financial Statements 13


Liberty Guard (UK) Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: Mr Gordon Jones
Mr Alexander Gordon Jones
Mrs Emma Louise Jones Ritchie
Mr Darren Wasilewski
Mr Ross Finnegan



SECRETARY: Mr John Bamford



REGISTERED OFFICE: The Old Airfield
Belton Road
Sandtoft
Doncaster
South Yorkshire
DN8 5SX



REGISTERED NUMBER: 04553341



INDEPENDENT AUDITORS: Landin Wilcock & Co
Statutory Auditor
68 Queen Street
Sheffield
South Yorkshire
S1 1WR



BANKERS: Handelsbanken
7th Floor
3 St Pauls Place
129 Norfolk Street
Sheffield
South Yorkshire
S1 2JE

Liberty Guard (UK) Limited (Registered number: 04553341)

Strategic Report
for the Year Ended 30 June 2023


The directors present their strategic report for the year ended 30 June 2023.

REVIEW OF BUSINESS
During the year the company continued to manufacture, sell and hire out modular, portable buildings and site accommodation units.

Group operations continued successfully during the year with further investment in hire fleet units, following a clear strategy to grow the eco-friendly fleet. The addition of generator-free welfare accommodation and marketing suites represented a notable step forward on our journey to reduced carbon operations. The expanded fleet has further improved our nationwide coverage which, along with an expanded sales team, will lead to improved results as we move in to 2023/24 and beyond.
The ongoing world events and economic difficulties within the UK continue to present challenges however, the directors are pleased with how the business is responding to those challenges. Some sectors across our customer base are experiencing difficult trading periods yet hire income has reached record levels thanks to the expanded team and fleet. In addition, costs have been sensibly controlled to, in-part, counter some of the significant inflationary pressures we are experiencing in the UK.

PRINCIPAL RISKS AND UNCERTAINTIES
Significant competition

The company operates in an industry where there are a number of major competitors.
The company responds to this risk by ensuring it has a modern versatile fleet available that is competitively priced and may be tailored to enable it to meet individual customer requirements.

External influences

A downturn in the construction industry or a decline in the requirement for hiring the company's products may
result in a reduction in the prices that the company can charge for its services. The company responds to this by
monitoring and assessing market capacity and looking at adapting to any changes by diversifying its supply
both geographically and also across different markets.

Human resources

The company has a requirement for ensuring that its staff and the service they provide are of a high quality. The
company responds to this by ensuring that all staff receive competitive remuneration packages and that all key
personnel are aware of the company's commitment to providing a quality product backed up with quality service.

Changes in prices of products and fuel

The company purchases products from a number of suppliers. Many of these product prices are affected by
market conditions and to a certain extent the policies of the European Union. Movements in the price levels can have a corresponding impact on the company's gross profit margins. The company, and in particular, its
transportation arm, may also be affected by the fluctuations in fuel prices. The company responds to this by
reviewing the competitive conditions and pricing methods employed in the markets in which the company
operates and its ability to pass through these price increases is determined by the results of the review.


Liberty Guard (UK) Limited (Registered number: 04553341)

Strategic Report
for the Year Ended 30 June 2023



Unit 2023 2022

Turnover £ 11,697,918 13,466,252
Turnover growth % (13) 18
Gross profit margin % 59 57
Profit before tax £ 2,773,919 4,237,973



The company considers its main non-financial KPI's to be the number of units that are subject to customer hire contracts and the increasing availability of quality products for hire.

The company's hire performance and related customer demands are monitored weekly and resources employed accordingly.

ON BEHALF OF THE BOARD:





Mr Gordon Jones - Director


5 March 2024

Liberty Guard (UK) Limited (Registered number: 04553341)

Directors' Report
for the Year Ended 30 June 2023


The directors present their report with the financial statements of the company for the year ended 30 June 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the sale and hire of site cabins and related equipment.

DIVIDENDS
No interim dividend was paid during the year. The directors recommend a final dividend of £500,000 per share.

The total distribution of dividends for the year ended 30 June 2023 will be £ 500,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2022 to the date of this report.

Mr Gordon Jones
Mr Alexander Gordon Jones
Mrs Emma Louise Jones Ritchie
Mr Darren Wasilewski

Other changes in directors holding office are as follows:

Mr Ross Finnegan was appointed as a director after 30 June 2023 but prior to the date of this report.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Landin Wilcock & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr Gordon Jones - Director


5 March 2024

Liberty Guard (UK) Limited (Registered number: 04553341)

Statement of Directors' Responsibilities
for the Year Ended 30 June 2023


The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Report of the Independent Auditors to the Members of
Liberty Guard (UK) Limited


Opinion
We have audited the financial statements of Liberty Guard (UK) Limited (the 'company') for the year ended 30 June 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 June 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report, the Directors' Report and the Statement of Directors' Responsibilities, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Liberty Guard (UK) Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements 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.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- minimal reliance was placed upon the operating effectiveness of internal controls in the design and performance of our substantive procedures;
- discussions were held with management considering known or suspected non-compliance with laws, regulations and fraud;
- journal entries were reviewed for any entries made outside the ordinary reporting process with particular emphasis on those with unusual account combinations, entries crediting revenue and those without specific descriptions;
- management assumptions in their significant accounting estimates were challenged and scrutinised.

There are inherent limitations in the audit procedures described above, and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one from resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Liberty Guard (UK) Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Robert Hampstead (Senior Statutory Auditor)
for and on behalf of Landin Wilcock & Co
Statutory Auditor
68 Queen Street
Sheffield
South Yorkshire
S1 1WR

5 March 2024

Liberty Guard (UK) Limited (Registered number: 04553341)

Income Statement
for the Year Ended 30 June 2023

30/6/23 30/6/22
Notes £    £   

TURNOVER 11,697,918 13,466,252

Cost of sales (4,774,995 ) (5,820,985 )
GROSS PROFIT 6,922,923 7,645,267

Administrative expenses (4,113,013 ) (3,363,659 )
2,809,910 4,281,608

Other operating income - 17,308
OPERATING PROFIT 4 2,809,910 4,298,916


Interest payable and similar expenses 5 (35,991 ) (60,943 )
PROFIT BEFORE TAXATION 2,773,919 4,237,973

Tax on profit 6 (862,499 ) (884,944 )
PROFIT FOR THE FINANCIAL YEAR 1,911,420 3,353,029

Liberty Guard (UK) Limited (Registered number: 04553341)

Other Comprehensive Income
for the Year Ended 30 June 2023

30/6/23 30/6/22
Notes £    £   

PROFIT FOR THE YEAR 1,911,420 3,353,029


OTHER COMPREHENSIVE INCOME
Movement on hire fleet revaluation 133,857 12,885
Income tax relating to other
comprehensive income

137,014

120,672
OTHER COMPREHENSIVE INCOME FOR THE
YEAR, NET OF INCOME TAX

270,871

133,557
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

2,182,291

3,486,586

Liberty Guard (UK) Limited (Registered number: 04553341)

Balance Sheet
30 June 2023

30/6/23 30/6/22
Notes £    £   
FIXED ASSETS
Tangible assets 8 17,046,702 16,122,349

CURRENT ASSETS
Stocks 9 437,828 247,072
Debtors 10 2,616,010 3,039,773
Cash at bank and in hand 472,386 263,085
3,526,224 3,549,930
CREDITORS
Amounts falling due within one year 11 (3,792,202 ) (4,196,555 )
NET CURRENT LIABILITIES (265,978 ) (646,625 )
TOTAL ASSETS LESS CURRENT LIABILITIES 16,780,724 15,475,724

CREDITORS
Amounts falling due after more than one
year

12

(106,487

)

(677,001

)

PROVISIONS FOR LIABILITIES 15 (2,240,452 ) (2,047,229 )
NET ASSETS 14,433,785 12,751,494

CAPITAL AND RESERVES
Called up share capital 16 1 1
Revaluation reserve 17 1,341,075 1,752,116
Retained earnings 17 13,092,709 10,999,377
SHAREHOLDERS' FUNDS 14,433,785 12,751,494

The financial statements were approved by the Board of Directors and authorised for issue on 5 March 2024 and were signed on its behalf by:





Mr Gordon Jones - Director


Liberty Guard (UK) Limited (Registered number: 04553341)

Statement of Changes in Equity
for the Year Ended 30 June 2023

Called up
share Retained Revaluation Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 July 2021 1 7,150,775 2,114,132 9,264,908

Changes in equity
Total comprehensive income - 3,848,602 (362,016 ) 3,486,586
Balance at 30 June 2022 1 10,999,377 1,752,116 12,751,494

Changes in equity
Dividends - (500,000 ) - (500,000 )
Total comprehensive income - 2,593,332 (411,041 ) 2,182,291
Balance at 30 June 2023 1 13,092,709 1,341,075 14,433,785

Liberty Guard (UK) Limited (Registered number: 04553341)

Notes to the Financial Statements
for the Year Ended 30 June 2023


1. STATUTORY INFORMATION

Liberty Guard (UK) Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty
Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Key sources of estimation uncertainty

Tangible fixed assets are the single largest balance on the company's balance sheet and the method chosen to value the hire fleet assets has a material effect on the company's reporting position and performance. The hire fleet is carried at fair value and assessed annually by the directors opinion of its income generation and depreciated replacement cost. Factors which are taken into consideration in arriving at the valuation include current market value, condition, experience and age.

Liberty Guard (UK) Limited (Registered number: 04553341)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from the sale of goods represents the manufacture and sale of site cabins and related equipment. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Turnover from the sale of services represents the hire of site cabins and related equipment.
Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the balance sheet date, turnover represents the fair value of service provided to date, based on the stage of completion of the contract activity at the balance sheet date.

Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included within creditors.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on cost and 10% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost and straight line over 7 years

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical costs include expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively, if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.


Liberty Guard (UK) Limited (Registered number: 04553341)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS
30/6/23 30/6/22
£    £   
Wages and salaries 1,802,406 1,455,070
Social security costs 179,152 142,445
Other pension costs 28,062 22,026
2,009,620 1,619,541

The average number of employees during the year was as follows:
30/6/23 30/6/22

Production 50 39
Administration and support 7 7
Sales, marketing and distribution 8 7
65 53

Liberty Guard (UK) Limited (Registered number: 04553341)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


3. EMPLOYEES AND DIRECTORS - continued

30/6/23 30/6/22
£    £   
Directors' remuneration - -

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

30/6/23 30/6/22
£    £   
Depreciation - owned assets 1,922,980 1,807,357
Depreciation - assets on hire purchase contracts 150,240 167,061
Loss/(profit) on disposal of fixed assets 99,712 (149,539 )
Auditors' remuneration 12,000 16,200

5. INTEREST PAYABLE AND SIMILAR EXPENSES
30/6/23 30/6/22
£    £   
Interest payable (3,399 ) 4,384
Hire purchase 39,390 56,559
35,991 60,943

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30/6/23 30/6/22
£    £   
Current tax:
UK corporation tax 436,309 484,072
Under/over provision 95,953 -
Total current tax 532,262 484,072

Deferred tax 330,237 400,872
Tax on profit 862,499 884,944

UK corporation tax has been charged at 20.50% (2022 - 19%).

Liberty Guard (UK) Limited (Registered number: 04553341)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


6. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

30/6/23 30/6/22
£    £   
Profit before tax 2,773,919 4,237,973
Profit multiplied by the standard rate of corporation tax in the UK of
20.496% (2022 - 19%)

568,542

805,215

Effects of:
Expenses not deductible for tax purposes 3,930 3,250
Capital allowances in excess of depreciation (136,163 ) (228,427 )
Group relief of tax losses - (95,966 )
Deferred tax 330,237 400,872
Under/over provision 95,953 -
Total tax charge 862,499 884,944

Tax effects relating to effects of other comprehensive income

30/6/23
Gross Tax Net
£    £    £   
Movement on hire fleet revaluation 133,857 137,014 270,871

30/6/22
Gross Tax Net
£    £    £   
Movement on hire fleet revaluation 12,885 120,672 133,557

7. DIVIDENDS
30/6/23 30/6/22
£    £   
Ordinary share of 1
Final 500,000 -

Liberty Guard (UK) Limited (Registered number: 04553341)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


8. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 July 2022 15,475,034 79,464 1,373,009 16,927,507
Additions 3,544,992 39,402 327,093 3,911,487
Disposals (854,792 ) (32,593 ) (220,010 ) (1,107,395 )
Revaluations (1,801,524 ) - - (1,801,524 )
At 30 June 2023 16,363,710 86,273 1,480,092 17,930,075
DEPRECIATION
At 1 July 2022 126,997 57,283 620,878 805,158
Charge for year 1,818,352 14,750 240,118 2,073,220
Eliminated on disposal (2,638 ) (32,593 ) (166,855 ) (202,086 )
Charge written back (1,792,919 ) - - (1,792,919 )
At 30 June 2023 149,792 39,440 694,141 883,373
NET BOOK VALUE
At 30 June 2023 16,213,918 46,833 785,951 17,046,702
At 30 June 2022 15,348,037 22,181 752,131 16,122,349

Within the plant and machinery asset category is the hire fleet which has a net book value of £16,127,653 (2022 - £15,306,264).

The fair value of the company's hire fleet was revalued on 30 June 2023. An independent valuer was not involved. The hire fleet has been revalued at current fair value by the group finance director on an individual basis by reference to his opinion of its income generation and depreciated replacement cost.

Had the hire fleet class of asset been measured on a historical cost basis, the carrying amount would have been £14,339,553 (2022 - £12,970,109).

Liberty Guard (UK) Limited (Registered number: 04553341)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


8. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST OR VALUATION
At 1 July 2022 1,629,456 765,518 2,394,974
Additions - 22,500 22,500
Disposals - (26,641 ) (26,641 )
Revaluations (147,484 ) - (147,484 )
Transfer to ownership - (343,648 ) (343,648 )
At 30 June 2023 1,481,972 417,729 1,899,701
DEPRECIATION
At 1 July 2022 - 185,741 185,741
Charge for year - 150,240 150,240
Eliminated on disposal - (6,660 ) (6,660 )
Transfer to ownership - (133,850 ) (133,850 )
At 30 June 2023 - 195,471 195,471
NET BOOK VALUE
At 30 June 2023 1,481,972 222,258 1,704,230
At 30 June 2022 1,629,456 579,777 2,209,233

9. STOCKS
30/6/23 30/6/22
£    £   
Stocks 326,774 247,072
Work-in-progress 111,054 -
437,828 247,072

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/23 30/6/22
£    £   
Trade debtors 2,330,980 2,784,184
Amounts owed by group undertakings 175,993 168,448
Directors' current accounts 29,165 45,833
Prepayments 79,872 41,308
2,616,010 3,039,773

Liberty Guard (UK) Limited (Registered number: 04553341)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/23 30/6/22
£    £   
Hire purchase contracts (see note 13) 577,944 626,949
Trade creditors 767,791 1,260,984
Amounts owed to group undertakings 1,667,860 1,588,468
Tax 300,105 221,242
Social security and other taxes 42,694 38,249
VAT 257,026 304,071
Pension 3,923 2,647
Accrued expenses 174,859 153,945
3,792,202 4,196,555

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30/6/23 30/6/22
£    £   
Hire purchase contracts (see note 13) 106,487 677,001

13. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

30/6/23 30/6/22
£    £   
Net obligations repayable:
Within one year 577,944 626,949
Between one and five years 106,487 677,001
684,431 1,303,950

14. SECURED DEBTS

The following secured debts are included within creditors:

30/6/23 30/6/22
£    £   
Hire purchase contracts 684,431 1,303,950

The hire purchase liabilities are secured against the related assets.
The bank overdraft is secured by way of a legal charge over the trading property and there is also an un-limited inter company composite guarantee by and between each member of the group.

15. PROVISIONS FOR LIABILITIES
30/6/23 30/6/22
£    £   
Deferred tax
Accelerated capital allowances 2,240,452 2,047,229

Liberty Guard (UK) Limited (Registered number: 04553341)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


15. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 July 2022 2,047,229
Provided during year 330,237
On revaluation of hire fleet (137,014 )
Balance at 30 June 2023 2,240,452

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/6/23 30/6/22
value: £    £   
1 Ordinary 1 1 1

17. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 July 2022 10,999,377 1,752,116 12,751,493
Profit for the year 1,911,420 1,911,420
Dividends (500,000 ) (500,000 )
Other movements 681,912 (411,041 ) 270,871
At 30 June 2023 13,092,709 1,341,075 14,433,784

Revaluation reserve

The revaluation reserve represents the revaluation of the company's hire fleet.


Retained earnings

Retained earnings includes all current and prior period profits and losses, net of dividends paid and other adjustments.

18. CAPITAL COMMITMENTS
30/6/23 30/6/22
£    £   
Contracted but not provided for in the
financial statements 893,895 -

Liberty Guard (UK) Limited (Registered number: 04553341)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


19. OTHER FINANCIAL COMMITMENTS

Amounts not provided for in the balance sheet

The total amount of guarantees not included in the balance sheet is £nil (2022 - £nil). The company has provided an intercompany cross guarantee in respect of the bank borrowings of Liberty Group Holdings Limited, Pasuda Buildings Limited, Pasuda (Hire) Limited, Speakeasy Co Limited and Speakeasy Enterprises Limited.

20. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022:

30/6/23 30/6/22
£    £   
Mr Alexander Gordon Jones
Balance outstanding at start of year 45,833 50,000
Amounts repaid (16,668 ) (4,167 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 29,165 45,833

21. ULTIMATE CONTROLLING PARTY

The company's immediate parent is Liberty Group Holdings Limited, incorporated in England & Wales.

These financial statements are available upon request from The Old Airfield, Belton Road, Sandtoft, Doncaster DN8 5SX.

The ultimate controlling party is Mr Gordon Jones and Mrs Susan Jones by virtue of their shareholdings in the parent company.