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edLosses2023-04-012024-03-31
REGISTERED NUMBER: 02661496 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

METRO SECURITY (GB) PLC

METRO SECURITY (GB) PLC (REGISTERED NUMBER: 02661496)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 8

Other Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 14


METRO SECURITY (GB) PLC

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mrs S Wallace
N Roofe



SECRETARY: M Lomotey



REGISTERED OFFICE: Create Business Hub
Ground Floor
5 Rayleigh Road
Hutton, Brentwood.
Essex
CM13 1AB



REGISTERED NUMBER: 02661496 (England and Wales)



SENIOR STATUTORY AUDITOR: Samuel Ketcher. FCCA



AUDITORS: Xeinadin Audit Limited
Chartered Accountants and Statutory Auditor
12 Conqueror Court
Sittingbourne
Kent
ME10 5BH

METRO SECURITY (GB) PLC (REGISTERED NUMBER: 02661496)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024

The company's year end performance figures are in line with the directors' expectations. Turnover increased from £4.7m to £5.1m and gross profit margins increased from 36.4% to 40%. This was achieved by focusing on costs to improve efficiency as well incentivsing staff for improved customer care.

The after effects of Covid-19 continues to be felt and it is exacerbated by the ongoing conflict between Russia and Ukraine. It means energy costs and general high cost of living meant clients were looking for areas to scale down to save costs where possible. Fortunately, our investment in research and development has helped us to focus on customer needs to develop innovative products which are both efficient and cost effective.
We continue to listen to our clients to find out areas of our services upon which we can improve.

Our focus on customer service means that we continue to invest in our staff by providing continuing professional education to meet best practice and overall development..

The company's liquidity and solvency ratios are consistent and on an upward trend and it indicates that our ability to meet both short- and long-term obligations is good. Focusing on customer service, research and development and growth are the main objectives. To this end we acquired Argus Fire and Security Ltd which we believe will add synergy and expand our market share.

The global headwinds from supply chain issues and the uncertain geopolitical situation about energy security continue to make the economic situation challenging to manage and plan for.
The directors, however, believe that the company is well positioned to meet these challenges to fulfil its strategic objectives.

SECTION 172(1) STATEMENT
The Directors of a company must act in the way they consider, in good faith, would be most likely to promote the success of the company for the benefit of its members as a whole, and in doing so have regard (amongst other matters) to:
a) the likely consequences of any decision in the long term,
b) the interests of the company's employees,
c) the need to foster the company's business relationships with suppliers, customers and others,
d) the impact of the company's operations on the community and the environment,
e) the desirability of the company maintaining a reputation for high standards of business conduct, and
f) the need to act fairly as between members of the company.

ON BEHALF OF THE BOARD:





Mrs S Wallace - Director


24 September 2024

METRO SECURITY (GB) PLC (REGISTERED NUMBER: 02661496)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024

The directors present their report with the financial statements of the company for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the provision of security systems and services.

DIVIDENDS
During the year the company paid interim dividends. Ordinary B shares £55,850, Ordinary and Ordinary D shares £6,000. No final dividend is proposed.

DIRECTORS
The directors set out in the table below have held office during the whole of the period from 1 April 2023 to the date of this report.

The beneficial interests of the directors holding office at 31 March 2024 in the shares of the company, according to the register of directors' interests, were as follows:

1.4.23
or date of
appointment
31.3.24 if later
Ordinary shares of £1 each
Mrs S Wallace 50,000 50,000
N Roofe - appointed 24.4.23 - -

C Ordinary shares of £1 each
Mrs S Wallace 1 1
N Roofe - -

These directors did not hold any beneficial interests in the following:

A Ordinary shares of £0.10 each

B Ordinary shares of £1 each

D Ordinary shares of £1 each

These directors did not hold any non-beneficial interests in any of the shares of the company.

SUPPLIERS
The company does not follow any code or standard on payment practice. The principal suppliers have agreed terms for payment. For others, the company settles the terms of payment when agreeing the terms for each transaction and advises suppliers of the arrangements. The company abides by the terms agreed.

The number of creditors' days outstanding at 31st March 2024 was 43 (2023: 49).


METRO SECURITY (GB) PLC (REGISTERED NUMBER: 02661496)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors 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 then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and
explained in the financial statements;
- 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.

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
Xenaidin Audit Limited are deemed re-appointed under section 487(2) of the Companies Act 2006.

Xenaidin Audit Limited, The Auditors will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mrs S Wallace - Director


24 September 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
METRO SECURITY (GB) PLC

Opinion
We have audited the financial statements of Metro Security (GB) Plc (the 'company') for the year ended 31 March 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, 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 March 2024 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 and the Report of the Directors, 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 Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
METRO SECURITY (GB) PLC


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 Report of the Directors.

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 four, 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:

As part of an audit in accordance with ISAs (UK), exercise professional judgement and maintain professional
scepticism through the audit. We also:

1. Assessed the susceptibility of the entity's financial statements to material misstatement, including how fraud
may occur.

2. Held discussions with the client regarding their policies and procedures on compliance with laws and
regulations.

3. Held discussions with the client regarding their policies and procedures on fraud risks, including knowledge of
any actual suspected or alleged fraud.

We consider the entity's controls effective in identifying fraud. We do not consider there to be significant difficulty
in detecting irregularities.

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
METRO SECURITY (GB) PLC


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.




Samuel Ketcher. FCCA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited
Chartered Accountants and Statutory Auditor
12 Conqueror Court
Sittingbourne
Kent
ME10 5BH

24 September 2024

METRO SECURITY (GB) PLC (REGISTERED NUMBER: 02661496)

INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   

TURNOVER 3 5,260,741 4,784,602

Cost of sales 3,237,488 3,041,566
GROSS PROFIT 2,023,253 1,743,036

Administrative expenses 1,440,158 1,347,786
583,095 395,250

Other operating income 4 57,264 51,259
OPERATING PROFIT 6 640,359 446,509

Interest receivable and similar income - 22
640,359 446,531

Interest payable and similar expenses 8 20,243 16,202
PROFIT BEFORE TAXATION 620,116 430,329

Tax on profit 9 157,262 103,790
PROFIT FOR THE FINANCIAL YEAR 462,854 326,539

METRO SECURITY (GB) PLC (REGISTERED NUMBER: 02661496)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 462,854 326,539


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

462,854

326,539

METRO SECURITY (GB) PLC (REGISTERED NUMBER: 02661496)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 - -
Tangible assets 12 154,438 124,572
Investments 13 1,660,844 1,625,844
1,815,282 1,750,416

CURRENT ASSETS
Stocks 14 137,800 147,225
Debtors 15 1,500,811 1,598,026
Cash at bank and in hand 897,334 781,311
2,535,945 2,526,562
CREDITORS
Amounts falling due within one year 16 1,266,291 1,457,782
NET CURRENT ASSETS 1,269,654 1,068,780
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,084,936

2,819,196

CREDITORS
Amounts falling due after more than one
year

17

(177,256

)

(327,686

)

PROVISIONS FOR LIABILITIES 21 (38,609 ) (23,443 )
NET ASSETS 2,869,071 2,468,067

CAPITAL AND RESERVES
Called up share capital 22 50,647 50,647
Capital redemption reserve 23 22 22
Retained earnings 23 2,818,402 2,417,398
SHAREHOLDERS' FUNDS 2,869,071 2,468,067

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:





Mrs S Wallace - Director


METRO SECURITY (GB) PLC (REGISTERED NUMBER: 02661496)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 April 2022 50,647 2,258,936 22 2,309,605

Changes in equity
Dividends - (168,077 ) - (168,077 )
Total comprehensive income - 326,539 - 326,539
Balance at 31 March 2023 50,647 2,417,398 22 2,468,067

Changes in equity
Dividends - (61,850 ) - (61,850 )
Total comprehensive income - 462,854 - 462,854
Balance at 31 March 2024 50,647 2,818,402 22 2,869,071

METRO SECURITY (GB) PLC (REGISTERED NUMBER: 02661496)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 333,276 727,382
Interest paid (18,368 ) (9,461 )
Interest element of hire purchase payments
paid

(1,875

)

(2,991

)
Finance costs paid - 13,211
Reclassification of asset of motor asset - 2,719
Tax paid (61,229 ) (123,931 )
Net cash from operating activities 251,804 606,929

Cash flows from investing activities
Purchase of tangible fixed assets (107,284 ) (3,906 )
Purchase of fixed asset investments (35,000 ) (1,609,448 )
Sale of tangible fixed assets 25,234 26,833
Interest received - 22
Net cash from investing activities (117,050 ) (1,586,499 )

Cash flows from financing activities
New loans in year - 203,542
Capital repayments in year 43,631 (33,836 )
Other creditors (512 ) -
Equity dividends paid (61,850 ) (168,077 )
Net cash from financing activities (18,731 ) 1,629

Increase/(decrease) in cash and cash equivalents 116,023 (977,941 )
Cash and cash equivalents at beginning of
year

2

781,311

1,759,252

Cash and cash equivalents at end of year 2 897,334 781,311

METRO SECURITY (GB) PLC (REGISTERED NUMBER: 02661496)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2024 2023
£    £   
Profit before taxation 620,116 430,329
Depreciation charges 36,926 22,779
Loss on disposal of fixed assets 15,258 558
Finance costs 20,243 16,202
Finance income - (22 )
692,543 469,846
Decrease in stocks 9,425 35,685
Decrease/(increase) in trade and other debtors 97,215 (126,254 )
(Decrease)/increase in trade and other creditors (465,907 ) 348,105
Cash generated from operations 333,276 727,382

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 897,334 781,311
Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 781,311 1,759,252


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank and in hand 781,311 116,023 897,334
781,311 116,023 897,334
Debt
Finance leases (19,321 ) (43,631 ) (62,952 )
Debts falling due within 1 year (35,675 ) (2,682 ) (38,357 )
Debts falling due after 1 year (184,829 ) 38,194 (146,635 )
(239,825 ) (8,119 ) (247,944 )
Total 541,486 107,904 649,390

METRO SECURITY (GB) PLC (REGISTERED NUMBER: 02661496)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Metro Security (GB) Plc is a public company limited by shares, which is incorporated in England and Wales. The company's registered office address can be found on the Company Information page.

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.

Turnover
Turnover represents net invoiced sales of goods and services excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of three years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - Straight line over 15 years
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value.

The company operates a slow moving stock provision policy where stock is provided for as follows:
0% First year
25% Second Year
50% Third Year
100% Fourth Year

This is mainly due to our investment in technological products which have a much shorter shelf life, as technology moves so fast. There are constant upgrades in this field. Metro designs and develops bespoke security solutions so we may well buy various stock items (especially new technology that has just come on the market) in order to incorporate these into new innovative designs. Sometimes we find these may not integrate for whatever reason and therefore are no longer useful for the purpose we have originally bought them for.

METRO SECURITY (GB) PLC (REGISTERED NUMBER: 02661496)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:

o at fair value with changes recognised in the Statement of Comprehensive Income if the shares are
publicly traded or their fair value can otherwise be measured reliably;
o at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.

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.


METRO SECURITY (GB) PLC (REGISTERED NUMBER: 02661496)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Foreign currency transactions are translated into the company's functional currency using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

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.

Segmental reporting
The director regards the company's activity as being wholly in the provision of security systems and services related thereto and therefore such reporting is not considered to be appropriate.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2024 2023
£    £   
United Kingdom 5,118,649 4,724,091
Europe 142,092 60,511
5,260,741 4,784,602

The turnover and profit before taxation are attributable to the one principal activity of the company.

4. OTHER OPERATING INCOME
2024 2023
£    £   
Rents received 51,259 51,259
Sundry receipts 6,005 -
57,264 51,259






METRO SECURITY (GB) PLC (REGISTERED NUMBER: 02661496)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 1,658,518 1,391,453
Social security costs 175,900 149,343
Other pension costs 31,597 30,330
1,866,015 1,571,126

The average number of employees during the year was as follows:
2024 2023

Selling and service 29 26
Administration 10 12
39 38

2024 2023
£    £   
Director's emoluments 166,523 61,251
Company contributions to defined contribution pension schemes 99,303 535
265,826 61,786




There were 2 directors in the company's defined contribution pension scheme (2023-1).

Emoluments of the highest paid director were £88,790. Company pension contributions of £98,070 were made to a pension scheme on their behalf. Comparatives are not presented as total directors' remuneration was under £200,000 in the prior year.

6. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 7,343 7,832
Depreciation - assets on hire purchase contracts 29,583 14,947
Loss on disposal of fixed assets 15,258 558
Foreign exchange differences 6,407 8,438
Operating lease rentals - land and building 89,500 89,500
Operating lease rentals - motor vehicles 83,094 124,199
Pension costs 130,900 31,523

METRO SECURITY (GB) PLC (REGISTERED NUMBER: 02661496)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. AUDITORS' REMUNERATION AND THEIR ASSOCIATES

2024 2023
£    £   
Auditors' remuneration 13,500 12,500
Accountancy and tax services 10,225 9,194
Other 1,480
25,205 21,694

8. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 18,368 13,211
Hire purchase 1,875 2,991
20,243 16,202

9. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 142,096 86,878
Under / (over) provision - 28,875
Total current tax 142,096 115,753

Deferred tax 15,166 (11,963 )
Tax on profit 157,262 103,790

METRO SECURITY (GB) PLC (REGISTERED NUMBER: 02661496)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. 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:

2024 2023
£    £   
Profit before tax 620,116 430,329
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19%)

155,029

81,763

Effects of:
Capital allowances in excess of depreciation (15,166 ) -
Depreciation in excess of capital allowances - 11,963
Expenses not deductible for tax purposes 3,814 1,018
period in excess of

Prior year- over/under provision 13,585 9,046



Total tax charge 157,262 103,790

10. DIVIDENDS
2024 2023
£    £   
B Ordinary share of £1
Interim 55,850 127,740
C Ordinary share of £1
Interim - 34,337
D Ordinary share of £1
Final 6,000 6,000
61,850 168,077

11. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 103,113
AMORTISATION
At 1 April 2023
and 31 March 2024 103,113
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

METRO SECURITY (GB) PLC (REGISTERED NUMBER: 02661496)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

12. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 163,409 220,378 161,055 157,391 702,233
Additions - - 1,438 105,846 107,284
Disposals - - - (69,400 ) (69,400 )
At 31 March 2024 163,409 220,378 162,493 193,837 740,117
DEPRECIATION
At 1 April 2023 163,409 210,505 147,343 56,404 577,661
Charge for year - 2,454 3,684 30,788 36,926
Eliminated on disposal - - - (28,908 ) (28,908 )
At 31 March 2024 163,409 212,959 151,027 58,284 585,679
NET BOOK VALUE
At 31 March 2024 - 7,419 11,466 135,553 154,438
At 31 March 2023 - 9,873 13,712 100,987 124,572

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 135,690
Additions 105,846
Disposals (64,900 )
At 31 March 2024 176,636
DEPRECIATION
At 1 April 2023 45,505
Charge for year 29,583
Eliminated on disposal (28,908 )
At 31 March 2024 46,180
NET BOOK VALUE
At 31 March 2024 130,456
At 31 March 2023 90,185

METRO SECURITY (GB) PLC (REGISTERED NUMBER: 02661496)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

13. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 April 2023 1,625,844
Additions 35,000
At 31 March 2024 1,660,844
NET BOOK VALUE
At 31 March 2024 1,660,844
At 31 March 2023 1,625,844

14. STOCKS
2024 2023
£    £   
Finished goods and goods for
resale 137,800 147,225

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 531,803 610,086
Other debtors-Metrohomes 714,068 714,068
Prepayments and accrued income 254,940 273,872
1,500,811 1,598,026

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 18) 38,357 35,675
Hire purchase contracts (see note 19) 32,331 19,321
Trade creditors 331,176 493,109
Amounts owed to group undertakings 35,000 -
Corporation tax 167,745 86,878
Social security and other taxes 45,442 41,175
VAT 83,624 104,173
Other creditors 156,587 156,357
Accruals and deferred income 376,029 521,094
1,266,291 1,457,782

17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 18) 146,635 184,829
Hire purchase contracts (see note 19) 30,621 -
Other creditors - 142,857
177,256 327,686

METRO SECURITY (GB) PLC (REGISTERED NUMBER: 02661496)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

18. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 38,357 35,675

Amounts falling due between one and two years:
Bank loans - 1-2 years 42,105 38,565

Amounts falling due between two and five years:
Bank loans - 2-5 years 104,530 146,264

19. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations payable
Within one year 32,331 19,321
Between one and five years 30,621 -
62,952 19,321

At 31 March 2024 the Company had commitments to make future minimum lease payments under non-cancellable operating leases as follows.


2024 2023
£    £   
No later than 1 year 75,971 44,528
Later than 1 year and not later than 5 years 82,433 27,278
More than 5 years - 20,91
158,404 73,897

The following lease payments have been recognised as an expense in the Statement of financial activities:


2024 2023
£    £   
Operating lease rental 83,094 61,653

METRO SECURITY (GB) PLC (REGISTERED NUMBER: 02661496)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

20. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 183,992 220,504
Hire purchase contracts 62,952 19,321
246,944 239,825

The hire purchase contracts are secured on the assets under lease agreements.
Bank loans are secured by a fixed and floating charge over the assets of the company. The final repayment of loan is due in March 2028.

21. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 38,609 23,443

Deferred
tax
£   
Balance at 1 April 2023 23,443
Movements 15,166
Balance at 31 March 2024 38,609

The deferred tax provision represents the charge on the accelerated capital allowances and is expected to unwind over the remaining useful economic lives of the fixed assets to which it relates.

22. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
50,000 Ordinary £1 50,000 50,000
6,439 A Ordinary £0.10 644 644
1 B Ordinary £1 1 1
1 C Ordinary £1 1 1
1 D Ordinary £1 1 1
50,647 50,647

METRO SECURITY (GB) PLC (REGISTERED NUMBER: 02661496)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

23. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 April 2023 2,417,398 22 2,417,420
Profit for the year 462,854 462,854
Dividends (61,850 ) (61,850 )
At 31 March 2024 2,818,402 22 2,818,424

24. RELATED PARTY DISCLOSURES

Mrs S Wallace, the director, is a beneficiary of the company pension scheme which rented premises to the company in the year at a rent of £89,500 (2023: £89,500)

The director has an interest in Metrohomes and Property Limited which was loaned £714,068 at the balance sheet date (2023: £714,068) on an unsecured basis and it is payable less than one year after the balance sheet date

The director has an interest in Adder Digital Ltd, a company which rented premises from this company and which provided goods and services to this company. The transactions were at arms length.

The charges rendered to Adder Digital Technology Ltd in the year were £56,988 (2023: £56,347) and the amount due at 31 March 2024 was £Nil (2022: £23,174).

The charges made by Adder Digital Technology Ltd in the year were £327,680 (2023: £207,202) and the amount owed at 31 March 2024 was £9,669 (2023: £26,668).


The director, Mrs S Wallace and her father-in-law were paid £55,850 and £6,000 respectively in dividends during the year.

During the year close family members of a director received a total remuneration of £131,976. The remuneration was determined based on standard company policy and is consistent with the compensation provided to other employees in similar roles. The remuneration packages were established on an arm's length basis and are in line with the company's remuneration policies

25. ULTIMATE CONTROLLING PARTY

The company was controlled by Stephanie Wallace.