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Registration number: 02513542

United Guarding Services Ltd

Annual Report and Financial Statements

for the Year Ended 31 December 2023

 

United Guarding Services Ltd

Contents

Company Information

1

Strategic Report

2

Directors' Report

3 to 4

Statement of Directors' Responsibilities

5

Independent Auditor's Report

6 to 9

Profit and Loss Account

10

Statement of Comprehensive Income

11

Balance Sheet

12

Statement of Changes in Equity

13

Statement of Cash Flows

14

Notes to the Financial Statements

15 to 23

 

United Guarding Services Ltd

Company Information

Directors

M Gomez

M D Collyer

Registered office

590 Green Lanes
Palmers Green
London
N13 5RY

Auditors

Thomas Alexander & Co Ltd
590 Green Lanes
Palmers Green
London
N13 5RY

 

United Guarding Services Ltd

Strategic Report for the Year Ended 31 December 2023

The directors present their strategic report for the year ended 31 December 2023.

Principal activity

The principal activity of the company is that of static guarding and mobile patrol services

Fair review of the business

The results for the year and financial position at the year end were considered satisfactory by the directors. Growth in turnover has been steady and matches the expectations of the directors.

The key performance indicators are the turnover and the gross profit margin. The turnover and the gross profit margin have increased slightly. Overall the company has remained profitable despite a small increase in overheads

Principal risks and uncertainties

The company's activities are mainly with major clients under agreed contracts and a minor percentage of temporary work. It is not reliant on one particular customer. Hence it is not subject to major risks and uncertainties.

Approved and authorised by the Board on 9 August 2024 and signed on its behalf by:
 

.........................................
M Gomez
Director

 

United Guarding Services Ltd

Directors' Report for the Year Ended 31 December 2023

The directors present their report and the financial statements for the year ended 31 December 2023.

Directors of the company

The directors who held office during the year were as follows:

M Gomez

M D Collyer

Objectives and policies

The directors review monthly, the management accounts and cash flow forecasts to ensure that the results are in line with budgeted forecasts and expectations, thereby ensuring the company is not placed under any undue financial risk

Price risk, credit risk, liquidity risk and cash flow risk

The directors and shareholders consider to have sufficient funds available to finance its current operations as well as future planned activities

Employment of disabled persons

Applications for employment by disabled persons are always fully considered, taking into account the abilities of the applicants concerned. It is the policy of the Company that the training, career development and promotion of disabled persons should, as is reasonably possible be identical to that of other employees. If the existing employee becomes disabled while employed by the Company every effort is made to ensure that they continue employment with the Company and that appropriate training is arranged.

Employee involvement

The Company attaches importance to good communications and relations with employees. Meeting are actively held to fulfil these objectives on a frequent basis. All employees are kept up to date with developments in the Company and financial factors expected to affect the Company performance on a quarterly basis.

Future developments

The company will maintain its static guarding activities and will continue to look for opportunities to grow its market share. There are no future developments of which the directors are aware that will have a negative impact on the financial statements of the company

Disclosure of information to the auditors

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

Reappointment of auditors

The auditors Thomas Alexander & Co Ltd are deemed to be reappointed under section 487(2) of the Companies Act 2006.

Approved and authorised by the Board on 9 August 2024 and signed on its behalf by:
 

 

United Guarding Services Ltd

Directors' Report for the Year Ended 31 December 2023

.........................................
M Gomez
Director

 

United Guarding Services Ltd

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual 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). 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 apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

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.

 

United Guarding Services Ltd

Independent Auditor's Report to the Members of United Guarding Services Ltd

Opinion

We have audited the financial statements of United Guarding Services Ltd (the 'company') for the year ended 31 December 2023, which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Statement of Cash Flows, 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 31 December 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 auditor 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 the provisions available for small entities, in the circumstances set out in note 21 to the financial statements, 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 director's 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 original financial statements were 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 included in the annual report, other than the financial statements and our auditor’s report 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

 

United Guarding Services Ltd

Independent Auditor's Report to the Members of United Guarding Services Ltd

Opinion on other matter 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our 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 and 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 5], 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 is 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.

Auditor 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 an auditor’s report 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:

 

United Guarding Services Ltd

Independent Auditor's Report to the Members of United Guarding Services Ltd

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company.

Our approach was as follows:

• We obtained an understanding of the legal and regulatory requirements applicable to the company and considered that the most significant are the Companies Act 2006, UK financial reporting standards as issued by the Financial Reporting Council, and UK taxation legislation

• We obtained an understanding of how the company complies with these requirements by discussions with management and those charged with governance.

• We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance.

• We inquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations.

• Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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 an auditor’s report 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.

 

United Guarding Services Ltd

Independent Auditor's Report to the Members of United Guarding Services Ltd

......................................
A Odysseos (Senior Statutory Auditor)
For and on behalf of Thomas Alexander & Co Ltd, Statutory Auditor

590 Green Lanes
Palmers Green
London
N13 5RY

9 August 2024

 

United Guarding Services Ltd

Profit and Loss Account for the Year Ended 31 December 2023

Note

2023
£

2022
£

Turnover

3

12,649,627

11,282,968

Cost of sales

 

(10,901,430)

(9,744,680)

Gross profit

 

1,748,197

1,538,288

Administrative expenses

 

(1,571,727)

(1,452,602)

Operating profit

5

176,470

85,686

Other interest receivable and similar income

6

125,897

59,367

Profit before tax

 

302,367

145,053

Tax on profit

10

(60,075)

(25,212)

Profit for the financial year

 

242,292

119,841

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

United Guarding Services Ltd

Statement of Comprehensive Income for the Year Ended 31 December 2023

2023
£

2022
£

Profit for the year

242,292

119,841

Total comprehensive income for the year

242,292

119,841

 

United Guarding Services Ltd

(Registration number: 02513542)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

11

76,058

81,502

Investments

12

985,000

985,000

 

1,061,058

1,066,502

Current assets

 

Debtors

13

2,720,507

1,927,925

Cash at bank and in hand

 

595,065

847,736

 

3,315,572

2,775,661

Creditors: Amounts falling due within one year

15

(1,744,889)

(1,456,670)

Net current assets

 

1,570,683

1,318,991

Total assets less current liabilities

 

2,631,741

2,385,493

Provisions for liabilities

16

(14,602)

(10,646)

Net assets

 

2,617,139

2,374,847

Capital and reserves

 

Called up share capital

20

20

Share premium reserve

42,000

42,000

Revaluation reserve

660,000

660,000

Retained earnings

1,915,119

1,672,827

Shareholders' funds

 

2,617,139

2,374,847

Approved and authorised by the Board on 9 August 2024 and signed on its behalf by:
 

.........................................
M Gomez
Director

 

United Guarding Services Ltd

Statement of Changes in Equity for the Year Ended 31 December 2023

Share capital
£

Share premium
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 January 2023

20

42,000

660,000

1,672,827

2,374,847

Profit for the year

-

-

-

242,292

242,292

At 31 December 2023

20

42,000

660,000

1,915,119

2,617,139

Share capital
£

Share premium
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 January 2022

20

42,000

660,000

1,552,986

2,255,006

Profit for the year

-

-

-

119,841

119,841

At 31 December 2022

20

42,000

660,000

1,672,827

2,374,847

 

United Guarding Services Ltd

Statement of Cash Flows for the Year Ended 31 December 2023

Note

2023
£

2022
£

Cash flows from operating activities

Profit for the year

 

242,292

119,841

Adjustments to cash flows from non-cash items

 

Depreciation and amortisation

5

16,609

16,802

Loss on disposal of tangible assets

4

1,318

-

Finance income

6

(125,897)

(59,367)

Income tax expense

10

60,075

25,212

 

194,397

102,488

Working capital adjustments

 

(Increase)/decrease in trade debtors

13

(792,582)

20,280

Increase/(decrease) in trade creditors

15

257,312

(72,124)

Cash generated from operations

 

(340,873)

50,644

Income taxes paid

10

(25,212)

(9,835)

Net cash flow from operating activities

 

(366,085)

40,809

Cash flows from investing activities

 

Interest received

6

11,897

2,367

Acquisitions of tangible assets

(12,483)

(16,161)

Dividend income

6

114,000

57,000

Net cash flows from investing activities

 

113,414

43,206

Net (decrease)/increase in cash and cash equivalents

 

(252,671)

84,015

Cash and cash equivalents at 1 January

 

847,736

763,721

Cash and cash equivalents at 31 December

 

595,065

847,736

 

United Guarding Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
590 Green Lanes
Palmers Green
London
N13 5RY

The principal place of business is:
7 Gateway Mews
Ringway
Bounds Green
London
N11 2UT

These financial statements were authorised for issue by the Board on 9 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

 

United Guarding Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tas assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits
Deferred tax is measured using the tax rates and laes that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land & buildings

Over the term of the lease

Fixtures, fittings & equipment

15% Reducing balance basis

Motor Vehicles

25% Reducing balance basis

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

United Guarding Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Turnover

The analysis of the company's Turnover for the year from continuing operations is as follows:

2023
£

2022
£

Services

12,649,627

11,282,968

4

Other gains and losses

The analysis of the company's other gains and losses for the year is as follows:

 

United Guarding Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

2023
£

2022
£

Loss on disposal of Tangible assets

(1,318)

-

5

Operating profit

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

16,609

16,802

Operating lease expense - plant and machinery

43,577

37,704

Loss on disposal of property, plant and equipment

1,318

-

6

Other interest receivable and similar income

2023
£

2022
£

Interest income on bank deposits

11,897

2,367

Dividend income

114,000

57,000

125,897

59,367

7

Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

2023
£

2022
£

Wages and salaries

11,760,219

10,527,455

Pension costs, defined contribution scheme

180,654

159,002

Redundancy costs

-

2,953

Other employee expense

3,015

1,470

11,943,888

10,690,880

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

2023
No.

2022
No.

Administration and support

320

310

320

310

8

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

239,078

225,988

 

United Guarding Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

9

Auditors' remuneration

2023
£

2022
£

Audit of the financial statements

8,600

8,500


 

10

Taxation

Tax charged/(credited) in the profit and loss account

2023
£

2022
£

Current taxation

UK corporation tax

56,119

25,212

Deferred taxation

Arising from origination and reversal of timing differences

3,956

-

Tax expense in the income statement

60,075

25,212

The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2022 - the same as the standard rate of corporation tax in the UK) of 23.52% (2022 - 19%).

The differences are reconciled below:

2023
£

2022
£

Profit before tax

302,367

145,053

Corporation tax at standard rate

71,117

27,560

Tax decrease from effect of capital allowances and depreciation

(3,377)

(1,016)

Tax increase from other short-term timing differences

3,956

-

Effect of expense not deductible in determining taxable profit (tax loss)

15,192

9,498

Tax decrease from effect of dividends from UK companies

(26,813)

(10,830)

Total tax charge

60,075

25,212

 

United Guarding Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

Deferred tax

11

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

51,384

302,706

31,207

385,297

Additions

-

12,483

-

12,483

Disposals

-

-

(31,207)

(31,207)

At 31 December 2023

51,384

315,189

-

366,573

Depreciation

At 1 January 2023

44,118

230,227

29,450

303,795

Charge for the year

3,426

12,744

439

16,609

Eliminated on disposal

-

-

(29,889)

(29,889)

At 31 December 2023

47,544

242,971

-

290,515

Carrying amount

At 31 December 2023

3,840

72,218

-

76,058

At 31 December 2022

7,266

72,479

1,757

81,502

Included within the net book value of land and buildings above is £3,840 (2022 - £7,266) in respect of long leasehold land and buildings.
 

12

Investments

2023
£

2022
£

Investments in associates

985,000

985,000

Associates

£

Cost

At 1 January 2023

985,000

Carrying amount

At 31 December 2023

985,000

At 31 December 2022

985,000

 

United Guarding Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Associates

Silver Screen Limousines Limited

590 Green Lanes
London N13 5RY

Ordinary Shares

50%

50%

 

England

     

Associates

Silver Screen Limousines Limited

The principal activity of Silver Screen Limousines Limited is the supply of limousine services.

13

Debtors

Current

2023
£

2022
£

Trade debtors

1,779,361

1,669,750

Other debtors

936,873

254,613

Prepayments

4,273

3,562

 

2,720,507

1,927,925

14

Cash and cash equivalents

2023
£

2022
£

Cash on hand

164

1,015

Cash at bank

594,901

846,721

595,065

847,736

 

United Guarding Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

15

Creditors

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

276,986

145,429

Social security and other taxes

 

704,834

629,175

Outstanding defined contribution pension costs

 

41,812

36,332

Other payables

 

649,338

605,022

Accruals

 

15,800

15,500

Income tax liability

10

56,119

25,212

 

1,744,889

1,456,670

16

Provisions for liabilities

Deferred tax
£

Total
£

At 1 January 2023

10,646

10,646

Additional provisions

3,956

3,956

At 31 December 2023

14,602

14,602

17

Pension and other schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £180,654 (2022 - £159,002).

18

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

20

20

20

20

       
 

United Guarding Services Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

19

Commitments

Other financial commitments

Operating lease
The total amount of other financial commitments not provided in the financial statements was £321,551 (2022 - £326,851).

20

Related party transactions

Summary of transactions with other related parties

During the year the company paid rent on an arms length basis of £36,000 (2022: £36,000) in respect of its trading premises to MSM Asset Management Limited, a company under common control. Included in other debtors is an amount of £135,026 (2022: £91,526) owed by MSM Asset Management Limited. Also included in other debtors is an amount of £102,265 (2022: £102,265) owed by MSK Asset Management Limited, a company under common control. Included in other debtors is an amount of £698,000 (2022: £50,000) owed by Jigsaw Living Limited, a company with common shareholders.
 

21

APB Ethical Standards relevant circumstances

In common with many businesses of our size and nature we use our auditors to prepare and submit tax returns to the tax authorities and to assist with the preparation of the statutory financial statements.