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REGISTERED NUMBER: 03063902 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

FOR

ARGUS FIRE AND SECURITY LTD

ARGUS FIRE AND SECURITY LTD (REGISTERED NUMBER: 03063902)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ARGUS FIRE AND SECURITY LTD

COMPANY INFORMATION
for the Year Ended 31st March 2024







DIRECTORS: Mrs S Wallace
Mr D T Wallace
Mr N Roofe





REGISTERED OFFICE: 100 Barbriolli Square
Manchester
M2 3BD





REGISTERED NUMBER: 03063902 (England and Wales)





ACCOUNTANTS: Xeinadin
100 Barbirolli Square
Manchester
M2 3BD

ARGUS FIRE AND SECURITY LTD (REGISTERED NUMBER: 03063902)

BALANCE SHEET
31st March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 176,727 218,220
176,727 218,220

CURRENT ASSETS
Stocks 60,500 60,500
Debtors 6 453,317 438,367
Cash at bank and in hand 479,887 267,669
993,704 766,536
CREDITORS
Amounts falling due within one year 7 (968,308 ) (916,162 )
NET CURRENT ASSETS/(LIABILITIES) 25,396 (149,626 )
TOTAL ASSETS LESS CURRENT LIABILITIES 202,123 68,594

CREDITORS
Amounts falling due after more than one year 8 (19,387 ) (39,687 )

PROVISIONS FOR LIABILITIES (7,602 ) (25,183 )
NET ASSETS 175,134 3,724

CAPITAL AND RESERVES
Called up share capital 9 25,000 25,000
Retained earnings 150,134 (21,276 )
SHAREHOLDERS' FUNDS 175,134 3,724

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ARGUS FIRE AND SECURITY LTD (REGISTERED NUMBER: 03063902)

BALANCE SHEET - continued
31st March 2024


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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1st October 2024 and were signed on its behalf by:





Mrs S Wallace - Director


ARGUS FIRE AND SECURITY LTD (REGISTERED NUMBER: 03063902)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st March 2024


1. STATUTORY INFORMATION

Argus Fire and Security Ltd is a private company limited by share capital, incorporated in England and Wales, registration number 03063902. The address of the registered office is Xeinadin, 100 Barbirolli Square, Manchester, England M2 3BD. The principal place of business address is 3 Lord Street, Swinley, Wigan WN1 2BN.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Turnover
Turnover is measured at the fair value of the consideration receivable for goods and services sold, excluding value added tax. Turnover principally consists of income relating to the provision of fire and security protection to commercial and domestic customers.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business has now been fully amortised.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on tangible fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods:

Freehold property-2% straight line
Plant and machinery-10% straight line
Fixtures and fittings-15% straight line
Motor vehicles-20% reducing balance

At each balance sheet date, the Company reviews the carrying amounts of its property, plant and equipment to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.

ARGUS FIRE AND SECURITY LTD (REGISTERED NUMBER: 03063902)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st 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.

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

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

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

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.

The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Cash and cash equivalents
Cash and cash equivalents comprise of cash at bank and in hand. Bank borrowings are included within creditors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 30 ) .

ARGUS FIRE AND SECURITY LTD (REGISTERED NUMBER: 03063902)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023 46,175
Disposals (46,175 )
At 31st March 2024 -
AMORTISATION
At 1st April 2023 46,175
Eliminated on disposal (46,175 )
At 31st March 2024 -
NET BOOK VALUE
At 31st March 2024 -
At 31st March 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1st April 2023 154,310 33,377 2,522 265,900 456,109
Disposals - - - (102,570 ) (102,570 )
At 31st March 2024 154,310 33,377 2,522 163,330 353,539
DEPRECIATION
At 1st April 2023 48,346 33,377 1,302 154,864 237,889
Charge for year 3,086 - 82 20,075 23,243
Eliminated on disposal - - - (84,320 ) (84,320 )
At 31st March 2024 51,432 33,377 1,384 90,619 176,812
NET BOOK VALUE
At 31st March 2024 102,878 - 1,138 72,711 176,727
At 31st March 2023 105,964 - 1,220 111,036 218,220

ARGUS FIRE AND SECURITY LTD (REGISTERED NUMBER: 03063902)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2024


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st April 2023 151,687
Disposals (47,084 )
At 31st March 2024 104,603
DEPRECIATION
At 1st April 2023 67,385
Charge for year 19,478
Eliminated on disposal (34,550 )
At 31st March 2024 52,313
NET BOOK VALUE
At 31st March 2024 52,290
At 31st March 2023 84,302

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 388,925 402,506
Amounts owed by group undertakings 35,000 35,000
Other debtors 29,392 861
453,317 438,367

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 13,905 21,210
Trade creditors 180,193 240,089
Taxation and social security 101,669 58,130
Other creditors 672,541 596,733
968,308 916,162

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 19,387 39,687

ARGUS FIRE AND SECURITY LTD (REGISTERED NUMBER: 03063902)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2024


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
25,000 Ordinary £1 25,000 25,000

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs S Wallace by virtue of her controlling interest in the ultimate parent company, Metro Security (GB) Plc.