IRIS Accounts Production v24.2.0.383 05681052 director 1.4.23 31.3.24 31.3.24 Medium entities The company's core activities from our head office in Harlow, Essex continue to be the provision of specialized security services to major infrastructure installations, particularly with respect to rail and train systems. true false true true false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. 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REGISTERED NUMBER: 05681052 (England and Wales)









STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

LAND SHERIFFS LIMITED

LAND SHERIFFS LIMITED (REGISTERED NUMBER: 05681052)






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




Page

Company Information 1

Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 5

Income Statement 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


LAND SHERIFFS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: T J Lemay





REGISTERED OFFICE: The Coach House
The Square
Sawbridgeworth
Hertfordshire
CM21 9AE





REGISTERED NUMBER: 05681052 (England and Wales)





AUDITORS: Barker Wilkinson Limited
Statutory Auditor
19-21 Middle Row
Stevenage
Hertfordshire
SG1 3AW

LAND SHERIFFS LIMITED (REGISTERED NUMBER: 05681052)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024

The director presents his strategic report for the year ended 31 March 2024.

REVIEW OF BUSINESS

During the past twelve months, turnover has again decreased, although the reduction has been significantly reduced from that reported in 2023, from £7,609,006 in 2023 to £7,499,656 in 2023, a reduction of 1.4%. Managements continued focus on the use of company staff rather than agency staff has seen gross margins again increase this year from 31.2% to 35% an increase of 12.2%.

Given the current economic and industry climate the director is satisfied with the company's trading results and is hopeful that both turnover and profit and will increase in the near future.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks and uncertainties have not changed during the period under review and remain as follows:

Covid 19

The rail industry in 2020-21 was substantially affected by the coronavirus (COVID-19) pandemic. Passenger journeys fell to historically low levels and the government used emergency measures to keep train services running, which led to a large increase in train operator subsidy. Recent figures suggest that passenger numbers, helped in turn with the opening of the Elizabeth Line has seen passengers' numbers return to pre-pandemic levels but the industry still has financial pressures of repaying the subsidies received during COVID-19.

However, this does provide some opportunity as the industry wants to encourage more new passengers and seasoned travellers to return to more frequent use, this means customers want to feel safe on their journeys and our staff provide that reassurance.

Labour Costs

In common with other businesses, the lack of available labour in the current market could lead to potential staff shortages and potentially higher labour costs. Employers are generally having to offer higher rates of pay in order to attract and retain staff. This poses the risk of a reduced gross margin in 2024 and into the future.

The company mitigates this risk by ensuring that the companies salary packages are attractive to new and existing staff and that contracts are priced at competitive prices to ensure that profit levels are maintained.

Key Performance Indicators

- Monthly sales by sector
- Employee/Sub-Contractor costs in relation to sales

The company regularly reviews the performance of the company against historic results and future projections in both these aspects. The company regularly enhances its analysis of turnover and detailed costs so that issues can be understood and tackled on a timely basis.

ON BEHALF OF THE BOARD:





T J Lemay - Director


2 December 2024

LAND SHERIFFS LIMITED (REGISTERED NUMBER: 05681052)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 MARCH 2024

The director presents his report with the financial statements of the company for the year ended 31 March 2024.

DIVIDENDS
Interim dividends totalling £180,000 and £170,000 were paid on the Ordinary and Ordinary B shares respectively during the year under review.

FUTURE DEVELOPMENTS
The future of the business remains with the rail industry and supplying well trained and professional staff, however the move towards technology is important and we have highlighted some technological advances in camera equipment and utilising our new Control Room to effectively monitor and manage this new technology as a key area for development and growth of the business in the future. This will require some capital expenditure to progress this vision and development of the technology

DIRECTOR
T J Lemay held office during the whole of the period from 1 April 2023 to the date of this report.

POLITICAL DONATIONS AND EXPENDITURE
There were no political donations during the year. All donations were made to UK registered charities.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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 director is 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 he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

LAND SHERIFFS LIMITED (REGISTERED NUMBER: 05681052)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 MARCH 2024


AUDITORS
The auditors, Barker Wilkinson Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





T J Lemay - Director


2 December 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
LAND SHERIFFS LIMITED

Opinion
We have audited the financial statements of Land Sheriffs Limited (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 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 financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, 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 Director 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 Director have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
LAND SHERIFFS LIMITED


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 Director.

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 director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
LAND SHERIFFS LIMITED


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:

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 .

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including
fraud and non-compliance with laws and regulations was as follows:

- the engagement principal ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through enquiry of management

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including taxation legislation and the Companies Act 2006,

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates referred to in note 2 were indicative of potential bias; and

- investigated the rationale behind any significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations , we designed procedure which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation; and

- enquiring of management as to the actual and potential risk of litigation and claims;


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
LAND SHERIFFS LIMITED

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing Standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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

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.

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.




Colin Wilkinson (Senior Statutory Auditor)
for and on behalf of Barker Wilkinson Limited
Statutory Auditor
19-21 Middle Row
Stevenage
Hertfordshire
SG1 3AW

2 December 2024

LAND SHERIFFS LIMITED (REGISTERED NUMBER: 05681052)

INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   

TURNOVER 7,499,656 7,609,006

Cost of sales 4,876,294 5,234,880
GROSS PROFIT 2,623,362 2,374,126

Administrative expenses 2,022,480 1,645,248
OPERATING PROFIT 4 600,882 728,878

Interest receivable and similar income 38,007 9,216
638,889 738,094
Gain/loss on revaluation of investments 96,127 14,093
735,016 752,187

Interest payable and similar expenses 5 114 219
PROFIT BEFORE TAXATION 734,902 751,968

Tax on profit 6 161,340 150,227
PROFIT FOR THE FINANCIAL YEAR 573,562 601,741

LAND SHERIFFS LIMITED (REGISTERED NUMBER: 05681052)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 541,358 395,146
Investments 9 2,614,845 1,016,117
3,156,203 1,411,263

CURRENT ASSETS
Debtors 10 1,464,254 1,629,055
Cash at bank 2,466,710 3,642,658
3,930,964 5,271,713
CREDITORS
Amounts falling due within one year 11 1,338,381 1,171,921
NET CURRENT ASSETS 2,592,583 4,099,792
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,748,786

5,511,055

PROVISIONS FOR LIABILITIES 13 72,662 58,493
NET ASSETS 5,676,124 5,452,562

CAPITAL AND RESERVES
Called up share capital 14 101 101
Fair value reserve 15 110,220 14,093
Retained earnings 15 5,565,803 5,438,368
SHAREHOLDERS' FUNDS 5,676,124 5,452,562

The financial statements were approved by the director and authorised for issue on 2 December 2024 and were signed by:





T J Lemay - Director


LAND SHERIFFS LIMITED (REGISTERED NUMBER: 05681052)

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

Called up Fair
share Retained value Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 April 2022 100 5,205,220 - 5,205,320

Changes in equity
Issue of share capital 1 - - 1
Dividends - (354,500 ) - (354,500 )
Total comprehensive income - 587,648 14,093 601,741
Balance at 31 March 2023 101 5,438,368 14,093 5,452,562

Changes in equity
Dividends - (350,000 ) - (350,000 )
Total comprehensive income - 477,435 96,127 573,562
Balance at 31 March 2024 101 5,565,803 110,220 5,676,124

LAND SHERIFFS LIMITED (REGISTERED NUMBER: 05681052)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,072,616 924,280
Interest element of hire purchase or finance
lease rental payments paid

(114

)

(219

)
Tax paid (141,221 ) (196,310 )
Net cash from operating activities 931,281 727,751

Cash flows from investing activities
Purchase of tangible fixed assets (359,451 ) (99,825 )
Purchase of fixed asset investments (1,502,601 ) (1,000,000 )
Sale of tangible fixed assets 82,370 26,708
Interest received 38,007 9,216
Net cash from investing activities (1,741,675 ) (1,063,901 )

Cash flows from financing activities
Amount withdrawn by directors (15,554 ) (22,305 )
Share issue - 1
Equity dividends paid (350,000 ) (354,500 )
Net cash from financing activities (365,554 ) (376,804 )

Decrease in cash and cash equivalents (1,175,948 ) (712,954 )
Cash and cash equivalents at beginning of
year

2

3,642,658

4,355,612

Cash and cash equivalents at end of year 2 2,466,710 3,642,658

LAND SHERIFFS LIMITED (REGISTERED NUMBER: 05681052)

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 734,902 751,968
Depreciation charges 152,707 105,038
(Profit)/loss on disposal of fixed assets (21,839 ) 4,640
Gain on revaluation of fixed assets (96,127 ) (14,093 )
Finance costs 114 219
Finance income (38,007 ) (9,216 )
731,750 838,556
Decrease/(increase) in trade and other debtors 193,026 (40,417 )
Increase in trade and other creditors 147,840 126,141
Cash generated from operations 1,072,616 924,280

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 2,466,710 3,642,658
Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 3,642,658 4,355,612


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank 3,642,658 (1,175,948 ) 2,466,710
3,642,658 (1,175,948 ) 2,466,710
Total 3,642,658 (1,175,948 ) 2,466,710

LAND SHERIFFS LIMITED (REGISTERED NUMBER: 05681052)

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

1. STATUTORY INFORMATION

Land Sheriffs Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and 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 as modified by the revaluation of certain assets.

The director has assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The director has not identified any material uncertainties or risks related to events or conditions that could affect the carrying values of the company's assets and liabilities as at the balance sheet date. Therefore the financial statements for the year ended 31st March 2024 have been prepared using the going concern basis of accounting.

Significant judgements and estimates
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from those estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services
provided in the normal course of business , and is shown net of VAT and other sales related taxes .

Revenue from contracts for the provision of security services represents amounts chargeable for security services provided during the year on client contracts net of VAT. Revenue is recognised when a right to consideration has been obtained through work performed under each contract. Consideration accrues as the contract activity progresses by reference to the value of the work performed.

Revenue not invoiced at the year end is is included in debtors as 'amounts due under contracts'

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

Financial instruments
The director considers all financial instruments to be basic financial instruments in accordance with section 11 of FRS102. All basic financial instruments including trade and other debtors, cash and cash equivalents, and trade and other creditors, are initially recognised at transaction price and thereafter stated at amortised cost.


LAND SHERIFFS LIMITED (REGISTERED NUMBER: 05681052)

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

2. ACCOUNTING POLICIES - continued
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.

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
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.

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 3,885,920 3,863,452
Social security costs 385,531 399,299
Other pension costs 251,535 232,876
4,522,986 4,495,627

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

Operatives 104 111
Office and management 15 17
119 128

2024 2023
£    £   
Director's remuneration 9,960 11,908
Director's pension contributions to money purchase schemes 120,260 8,000

LAND SHERIFFS LIMITED (REGISTERED NUMBER: 05681052)

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

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Hire of plant and machinery 26,414 17,848
Other operating leases 80,460 92,632
Depreciation - owned assets 152,708 105,037
(Profit)/loss on disposal of fixed assets (21,839 ) 4,640
Auditors' remuneration 6,300 6,000

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Leasing 114 219

6. 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 147,171 131,872

Deferred tax 14,169 18,355
Tax on profit 161,340 150,227

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 734,902 751,968
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19%)

183,726

142,874

Effects of:
Expenses not deductible for tax purposes 1,646 1,133
Income not taxable for tax purposes (24,032 ) -
Capital allowances in excess of depreciation - (663 )
Adjustments to tax charge in respect of previous periods - (2,933 )
Super deduction allowance - (4,885 )
Change in rate of deferred tax provision - 14,701
Total tax charge 161,340 150,227

LAND SHERIFFS LIMITED (REGISTERED NUMBER: 05681052)

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

7. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Interim 180,000 182,000
Ordinary B share of £1
Interim 170,000 172,500
350,000 354,500

8. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2023 91,853 36,041 54,834
Additions - 4,166 3,077
Disposals - - -
At 31 March 2024 91,853 40,207 57,911
DEPRECIATION
At 1 April 2023 87,353 30,126 53,298
Charge for year 1,500 2,521 1,017
Eliminated on disposal - - -
At 31 March 2024 88,853 32,647 54,315
NET BOOK VALUE
At 31 March 2024 3,000 7,560 3,596
At 31 March 2023 4,500 5,915 1,536

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 1,004,495 34,338 1,221,561
Additions 349,736 2,472 359,451
Disposals (179,557 ) - (179,557 )
At 31 March 2024 1,174,674 36,810 1,401,455
DEPRECIATION
At 1 April 2023 631,635 24,003 826,415
Charge for year 139,756 7,914 152,708
Eliminated on disposal (119,026 ) - (119,026 )
At 31 March 2024 652,365 31,917 860,097
NET BOOK VALUE
At 31 March 2024 522,309 4,893 541,358
At 31 March 2023 372,860 10,335 395,146

LAND SHERIFFS LIMITED (REGISTERED NUMBER: 05681052)

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

9. FIXED ASSET INVESTMENTS
Listed Unlisted
investments investments Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 1,014,093 2,024 1,016,117
Additions 1,502,601 - 1,502,601
Revaluations 96,127 - 96,127
At 31 March 2024 2,612,821 2,024 2,614,845
NET BOOK VALUE
At 31 March 2024 2,612,821 2,024 2,614,845
At 31 March 2023 1,014,093 2,024 1,016,117

Cost or valuation at 31 March 2024 is represented by:

Listed Unlisted
investments investments Totals
£    £    £   
Valuation in 2023 110,220 - 110,220
Cost 2,502,601 2,024 2,504,625
2,612,821 2,024 2,614,845

Fixed asset listed investments were valued on an open market basis on 31 March 2024 by Barclays Wealth.

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 744,920 507,207
Amounts recoverable on contracts 480,916 796,608
Other debtors 100,394 180,689
Directors' current accounts 37,543 21,989
Tax 12,671 -
Prepayments 87,810 122,562
1,464,254 1,629,055

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 50,296 122,908
Tax 159,842 141,221
Social security and other taxes 183,232 107,270
VAT 374,399 419,147
Other creditors 241,188 313,412
Accrued expenses 329,424 67,963
1,338,381 1,171,921

LAND SHERIFFS LIMITED (REGISTERED NUMBER: 05681052)

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

12. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 31,045 28,451
Between one and five years 7,890 61,060
38,935 89,511

The above operating leases are in relation to property leases.

13. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 72,662 58,493

Deferred
tax
£   
Balance at 1 April 2023 58,493
Provided during year 14,169
Balance at 31 March 2024 72,662

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100
1 Ordinary B £1 1 1
101 101

All ordinary shares issued are non redeemable and rank equally in terms of a) voting rights - one vote for each share b) rights to participate in all approved dividend distributions for that class of share c) rights to participate in any capital distribution on winding up

All ordinary B shares issued are non voting and rank equally in terms of a) rights to participate in all approved divided distributions for that class of share b) rights to participate in any capital distribution on winding up.

LAND SHERIFFS LIMITED (REGISTERED NUMBER: 05681052)

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

15. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2023 5,438,368 14,093 5,452,461
Profit for the year 573,562 573,562
Dividends (350,000 ) (350,000 )
Transfer to/(from) fair value reserve (96,127 ) 96,127 -
At 31 March 2024 5,565,803 110,220 5,676,023

Under FRS 102 fair value adjustments are reflected within the income statement. As such adjustments
represent unrealised gains and losses a transfer is made to transfer them, to a separate fair value reserve thus the balance of retained earnings carried forward represents distributable reserves.

16. CAPITAL COMMITMENTS

As at 31st March 2024 the company had contracted to purchase motor vehicles amounting to £Nil (2023 £440,889. Subsequent to the prior year end contracts to the value of £176,305 were cancelled due to the supplier not being able to deliver the required vehicles.

The above amounts were provided for in the prior year accounts accounts

17. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
T J Lemay
Balance outstanding at start of year 21,989 (316 )
Amounts advanced 15,554 22,805
Amounts repaid - (500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 37,543 21,989

Loans made to the director are interest free and repayable on demand.

18. RELATED PARTY DISCLOSURES

Included within other debtors are amounts due from Tarim Properties Limited, a company in which the director and ultimate controlling party is a director and ultimate controlling party, of £90,000 (2023 - £90,000). The amounts due represent loans made by the company to Tarim Properties Limited no interest is charged on the loans and the loans are repayable on demand.

Included within other debtors are amounts due from IWCO Limited, a company in which the director's, and ultimate controlling party, wife is a director and ultimate controlling party, of £7,500 (2023 - £Nil). The amounts due represent loans made by the company to IWCO Limited no interest is charged on the loans and the loans are repayable on demand.

19. ULTIMATE CONTROLLING PARTY

The controlling party is T J Lemay.