Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29172023-03-01falseNo description of principal activity17truetrue 06805186 2023-03-01 2024-02-29 06805186 2022-03-01 2023-02-28 06805186 2024-02-29 06805186 2023-02-28 06805186 c:Director2 2023-03-01 2024-02-29 06805186 d:PlantMachinery 2023-03-01 2024-02-29 06805186 d:PlantMachinery 2024-02-29 06805186 d:PlantMachinery 2023-02-28 06805186 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 06805186 d:MotorVehicles 2023-03-01 2024-02-29 06805186 d:MotorVehicles 2024-02-29 06805186 d:MotorVehicles 2023-02-28 06805186 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 06805186 d:FurnitureFittings 2023-03-01 2024-02-29 06805186 d:FurnitureFittings 2024-02-29 06805186 d:FurnitureFittings 2023-02-28 06805186 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 06805186 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 06805186 d:CurrentFinancialInstruments 2024-02-29 06805186 d:CurrentFinancialInstruments 2023-02-28 06805186 d:Non-currentFinancialInstruments 2024-02-29 06805186 d:Non-currentFinancialInstruments 2023-02-28 06805186 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 06805186 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 06805186 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 06805186 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 06805186 d:ShareCapital 2024-02-29 06805186 d:ShareCapital 2023-02-28 06805186 d:RetainedEarningsAccumulatedLosses 2024-02-29 06805186 d:RetainedEarningsAccumulatedLosses 2023-02-28 06805186 c:FRS102 2023-03-01 2024-02-29 06805186 c:Audited 2023-03-01 2024-02-29 06805186 c:FullAccounts 2023-03-01 2024-02-29 06805186 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 06805186 c:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure
Company registration number: 06805186







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
29 FEBRUARY 2024


PERIMETER SECURITY MAINTENANCE AND TECHNOLOGIES LIMITED






































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PERIMETER SECURITY MAINTENANCE AND TECHNOLOGIES LIMITED
REGISTERED NUMBER:06805186



STATEMENT OF FINANCIAL POSITION
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
18,201
43,482

  
18,201
43,482

Current assets
  

Stocks
  
21,472
17,273

Debtors: amounts falling due within one year
 6 
821,272
749,950

Cash at bank and in hand
  
3,655
12,235

  
846,399
779,458

Creditors: amounts falling due within one year
 7 
(486,734)
(472,608)

Net current assets
  
 
 
359,665
 
 
306,850

Total assets less current liabilities
  
377,866
350,332

Creditors: amounts falling due after more than one year
 8 
(3,362)
(22,776)

Provisions for liabilities
  

Deferred Taxation
  
(3,662)
(10,479)

  
 
 
(3,662)
 
 
(10,479)

Net assets
  
370,842
317,077

Page 1

 


PERIMETER SECURITY MAINTENANCE AND TECHNOLOGIES LIMITED
REGISTERED NUMBER:06805186


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
£
£

Capital and reserves
  

Allotted, called up and fully paid share capital
  
1
1

Profit and loss account
  
370,841
317,076

  
370,842
317,077


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 by: 




M. R. Jones
Director

Date: 23 August 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 


PERIMETER SECURITY MAINTENANCE AND TECHNOLOGIES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Perimeter Security Maintenance & Technologies Limited is a private Company limited by shares incorporated in England and Wales. The address of the registered office is disclosed on the Company information page.
The Company's functional and presentational currency is GBP, rounded to the nearest £1.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company provides essential services to a diverse portfolio of government and private contractors and continues to have a very strong order book. This fact, together with the support of its directors and shareholders and adequate headroom in its overdraft facility over the 12 months from the date of approval of these financial statements gives the directors confidence that the going concern basis of preparation of the accounts continues to be appropriate.

 
2.3

Revenue recognition

Revenue from the maintenance of perimeter security fencing represents the value of work completed during the period, including estimates of amounts not invoiced. Revenue in respect of long term contracts and contracts for ongoing services is recognised by reference to stage of completion.
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.

 
2.4

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, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
per annum on cost
Motor vehicles
-
25%
per annum on cost
Fixtures and fittings
-
25%
per annum 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 3

 


PERIMETER SECURITY MAINTENANCE AND TECHNOLOGIES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.5

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.

At each reporting 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.

 
2.6

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.

 
2.7

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.8

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.9

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 


PERIMETER SECURITY MAINTENANCE AND TECHNOLOGIES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.10

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 reporting 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 reporting 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 reporting date.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Stage of completion of contracts for WIP calculation:
The Company enters into commercial contracts and at period ends is required to assess the level of completion of these contracts, to determine value of revenue recognised and the attributable profit. Management estimate the cost to complete at period end, however based on budgets and an up to date progress review.


4.


Employees

The average monthly number of employees, including directors, during the year was 17 (2023 - 17).

Page 5

 


PERIMETER SECURITY MAINTENANCE AND TECHNOLOGIES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Tangible fixed assets







Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost


At 1 March 2023
102,206
240,395
19,089
361,690



At 29 February 2024

102,206
240,395
19,089
361,690



Depreciation


At 1 March 2023
93,464
206,027
18,717
318,208


Charge for the year
6,312
18,913
56
25,281



At 29 February 2024

99,776
224,940
18,773
343,489



Net book value



At 29 February 2024
2,430
15,455
316
18,201



At 28 February 2023
8,742
34,368
372
43,482


6.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
46,726
34,615

Amounts owed by group undertakings
736,605
655,835

Other debtors
279
-

Prepayments and accrued income
37,662
59,500

821,272
749,950


Page 6

 


PERIMETER SECURITY MAINTENANCE AND TECHNOLOGIES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

7.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
26,267
7,448

Amounts owed to group undertakings
257,176
260,776

Corporation tax
24,205
20,220

Other taxation and social security
68,193
92,956

Obligations under finance lease and hire purchase contracts
19,408
24,786

Other creditors
13,921
10,862

Accruals and deferred income
77,564
55,560

486,734
472,608


Obligations under financial lease and hire purchase contracts are secured on the Company's tangible fixed assets.


8.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
3,362
22,776

3,362
22,776


Obligations under finance lease and hire purchase contracts are secured on the Company's tangible fixed assets.


9.


Other financial commitments

The Company's assets are pledged as security over the group bank borrowings, by means of a fixed and floating charge. As at 28 February 2024, the group had bank borrowings totalling £334,308 (2023: £225,695).
The directors consider it unlikely that any future liability will arise in respect of the above guarantee and therefore no liability is included on the balance sheet as at 28 February 2024 in respect of this guarantee.


10.


Ultimate parent company

The immediate parent undertaking is AFL Group Limited, a Company which is registered in England and Wales.
The ultimate parent undertaking is is Allens TPS Group Limited. The address of its registered office is the same as this Company's registered office and is disclosed on the Company Information page.

Page 7

 


PERIMETER SECURITY MAINTENANCE AND TECHNOLOGIES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

11.


Auditors' information

The auditors' report on the financial statements for the year ended 29 February 2024 was unqualified.

The audit report was signed on 23 August 2024 by Anna Johnston ACA (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 8