Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-302023-12-302024-05-28false2022-12-31falseNo description of principal activity1615truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01149927 2022-12-31 2023-12-30 01149927 2021-12-31 2022-12-30 01149927 2023-12-30 01149927 2022-12-30 01149927 c:Director2 2022-12-31 2023-12-30 01149927 d:PlantMachinery 2022-12-31 2023-12-30 01149927 d:PlantMachinery 2023-12-30 01149927 d:PlantMachinery 2022-12-30 01149927 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-12-31 2023-12-30 01149927 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-12-31 2023-12-30 01149927 d:ComputerEquipment 2022-12-31 2023-12-30 01149927 d:ComputerEquipment 2023-12-30 01149927 d:ComputerEquipment 2022-12-30 01149927 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-12-31 2023-12-30 01149927 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2022-12-31 2023-12-30 01149927 d:OwnedOrFreeholdAssets 2022-12-31 2023-12-30 01149927 d:LeasedAssetsHeldAsLessee 2022-12-31 2023-12-30 01149927 d:CurrentFinancialInstruments 2023-12-30 01149927 d:CurrentFinancialInstruments 2022-12-30 01149927 d:Non-currentFinancialInstruments 2023-12-30 01149927 d:Non-currentFinancialInstruments 2022-12-30 01149927 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-30 01149927 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-30 01149927 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-30 01149927 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-30 01149927 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-30 01149927 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-30 01149927 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-30 01149927 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-30 01149927 d:ShareCapital 2023-12-30 01149927 d:ShareCapital 2022-12-30 01149927 d:RetainedEarningsAccumulatedLosses 2023-12-30 01149927 d:RetainedEarningsAccumulatedLosses 2022-12-30 01149927 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-12-30 01149927 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-12-30 01149927 c:FRS102 2022-12-31 2023-12-30 01149927 c:AuditExempt-NoAccountantsReport 2022-12-31 2023-12-30 01149927 c:FullAccounts 2022-12-31 2023-12-30 01149927 c:PrivateLimitedCompanyLtd 2022-12-31 2023-12-30 01149927 d:HirePurchaseContracts d:WithinOneYear 2023-12-30 01149927 d:HirePurchaseContracts d:WithinOneYear 2022-12-30 01149927 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-30 01149927 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-12-30 01149927 2 2022-12-31 2023-12-30 01149927 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-12-30 01149927 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2022-12-30 01149927 d:LeasedAssetsHeldAsLessee 2023-12-30 01149927 d:LeasedAssetsHeldAsLessee 2022-12-30 01149927 e:PoundSterling 2022-12-31 2023-12-30 iso4217:GBP xbrli:pure

Registered number:  01149927














ABM FIRE AND SECURITY SYSTEMS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023


 
ABM FIRE AND SECURITY SYSTEMS LIMITED
REGISTERED NUMBER: 01149927

BALANCE SHEET
AS AT 30 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
17,920
21,445

  
17,920
21,445

Current assets
  

Stocks
  
11,979
7,730

Debtors: amounts falling due within one year
 5 
603,238
432,512

Cash at bank and in hand
 6 
222,052
151,751

  
837,269
591,993

Creditors: amounts falling due within one year
 7 
(362,472)
(313,111)

Net current assets
  
 
 
474,797
 
 
278,882

Total assets less current liabilities
  
492,717
300,327

Creditors: amounts falling due after more than one year
 8 
(15,843)
(29,862)

Provisions for liabilities
  

Deferred tax
  
(4,075)
(4,972)

  
 
 
(4,075)
 
 
(4,972)

Net assets
  
472,799
265,493


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
472,699
265,393

  
472,799
265,493


Page 1

 
ABM FIRE AND SECURITY SYSTEMS LIMITED
REGISTERED NUMBER: 01149927
    
BALANCE SHEET (CONTINUED)
AS AT 30 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 May 2024.




J G Jamieson
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
ABM FIRE AND SECURITY SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023

1.


General information

The company is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England and Wales (no. 01149927). The address of the registered office is Masters House, 6b Vesty Business Park, Vesty Road, Bootle, Merseyside, L30 1NY.
These financial statements present information about the company as an individual undertaking. It is a subsidiary of ABM Security Holdings Limited. The principal activity of the company is that of installation and maintenance of security systems.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
ABM FIRE AND SECURITY SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
ABM FIRE AND SECURITY SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes 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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery
-
25% on reducing balance
Computer equipment
-
33% on cost

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.

Page 5

 
ABM FIRE AND SECURITY SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.16

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are
Page 6

 
ABM FIRE AND SECURITY SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023

2.Accounting policies (continued)


2.16
Financial instruments (continued)

initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Page 7

 
ABM FIRE AND SECURITY SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023

2.Accounting policies (continued)


2.16
Financial instruments (continued)



3.


Employees

The average monthly number of employees, including directors, during the year was 16 (2022 - 15).


4.


Tangible fixed assets





Plant & machinery
Computer equipment
Total

£
£
£



Cost or valuation


At 31 December 2022
23,953
102,914
126,867


Additions
1,384
890
2,274



At 30 December 2023

25,337
103,804
129,141



Depreciation


At 31 December 2022
21,882
83,540
105,422


Charge for the year on owned assets
691
2,750
3,441


Charge for the year on financed assets
-
2,358
2,358



At 30 December 2023

22,573
88,648
111,221



Net book value



At 30 December 2023
2,764
15,156
17,920



At 30 December 2022
2,071
19,374
21,445

Page 8

 
ABM FIRE AND SECURITY SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023

           4.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Computer equipment
9,433
11,792

9,433
11,792


5.


Debtors

2023
2022
£
£


Trade debtors
187,821
208,225

Amounts owed by group undertakings
405,769
214,505

Prepayments and accrued income
9,648
9,782

603,238
432,512



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
222,052
151,751

222,052
151,751


Page 9

 
ABM FIRE AND SECURITY SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Trade creditors
148,069
165,588

Corporation tax
64,650
7,979

Other taxation and social security
51,923
40,376

Obligations under finance lease and hire purchase contracts
4,020
4,020

Other creditors
3,358
3,221

Accruals and deferred income
80,452
81,927

362,472
313,111



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
14,167
24,167

Net obligations under finance leases and hire purchase contracts
1,676
5,695

15,843
29,862


The following liabilities were secured:

2023
2022
£
£



Net obligations under finance leases and hire purchase contracts
5,696
9,715

5,696
9,715

Details of security provided:

Net obligations under finance leases and hire purchase contracts are secured on the assets concerned.

Page 10

 
ABM FIRE AND SECURITY SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000

Amounts falling due 2-5 years

Bank loans
4,167
14,167


24,167
34,167



10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
5,113
5,113

Between 1-5 years
2,131
7,244

7,244
12,357


11.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
222,052
151,751




Financial assets measured at fair value through profit or loss comprises of cash at bank and in hand.

Page 11

 
ABM FIRE AND SECURITY SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023

12.


Pension commitments

The Company operates a defined contributions pension scheme. 
The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £19,143 (2022 £18,587). 
Contributions totalling £3,358 (2022 £3,221) were payable to the fund at the reporting date and are included in creditors.


13.


Related party transactions


2023
2022
£
£

Amount due from parent company
314,505
214,505
Amount due from ultimate parent undertaking
91,264
-


14.


Controlling party

The company is a wholly owned subsidiary of ABM Security Holdings Limited, a company incorporated in England and Wales (no. 07942075). The address of its registered office is Masters House, 6b Vesty Business Park, Vesty Road, Bootle, L30 1NY.
The ultimate parent undertaking is Jamieson Holdings Limited. 
The ultimate controlling party is J G Jamieson, by virtue of his shareholding in the company's ultimate parent undertaking.

 
Page 12