Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30634falsefalse2023-05-01No description of principal activity770falsefalse 02923836 2023-05-01 2024-04-30 02923836 2022-05-01 2023-04-30 02923836 2024-04-30 02923836 2023-04-30 02923836 2022-05-01 02923836 1 2023-05-01 2024-04-30 02923836 1 2022-05-01 2023-04-30 02923836 5 2023-05-01 2024-04-30 02923836 5 2022-05-01 2023-04-30 02923836 7 2023-05-01 2024-04-30 02923836 7 2022-05-01 2023-04-30 02923836 d:Director1 2023-05-01 2024-04-30 02923836 d:Director2 2023-05-01 2024-04-30 02923836 d:Director2 2024-04-30 02923836 d:RegisteredOffice 2023-05-01 2024-04-30 02923836 e:Buildings e:ShortLeaseholdAssets 2023-05-01 2024-04-30 02923836 e:Buildings e:ShortLeaseholdAssets 2024-04-30 02923836 e:Buildings e:ShortLeaseholdAssets 2023-04-30 02923836 e:PlantMachinery 2023-05-01 2024-04-30 02923836 e:PlantMachinery 2024-04-30 02923836 e:PlantMachinery 2023-04-30 02923836 e:PlantMachinery e:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 02923836 e:MotorVehicles 2023-05-01 2024-04-30 02923836 e:OfficeEquipment 2023-05-01 2024-04-30 02923836 e:OfficeEquipment 2024-04-30 02923836 e:OfficeEquipment 2023-04-30 02923836 e:OfficeEquipment e:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 02923836 e:ComputerEquipment 2023-05-01 2024-04-30 02923836 e:ComputerEquipment 2024-04-30 02923836 e:ComputerEquipment 2023-04-30 02923836 e:ComputerEquipment e:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 02923836 e:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 02923836 e:Goodwill 2023-05-01 2024-04-30 02923836 e:Goodwill 2024-04-30 02923836 e:Goodwill 2023-04-30 02923836 e:CurrentFinancialInstruments 2024-04-30 02923836 e:CurrentFinancialInstruments 2023-04-30 02923836 e:CurrentFinancialInstruments e:WithinOneYear 2024-04-30 02923836 e:CurrentFinancialInstruments e:WithinOneYear 2023-04-30 02923836 e:ReportableOperatingSegment1 2023-05-01 2024-04-30 02923836 e:ReportableOperatingSegment1 2022-05-01 2023-04-30 02923836 f:UnitedKingdom 2023-05-01 2024-04-30 02923836 f:UnitedKingdom 2022-05-01 2023-04-30 02923836 e:UKTax 2023-05-01 2024-04-30 02923836 e:UKTax 2022-05-01 2023-04-30 02923836 e:ShareCapital 2023-05-01 2024-04-30 02923836 e:ShareCapital 2024-04-30 02923836 e:ShareCapital 2022-05-01 2023-04-30 02923836 e:ShareCapital 2023-04-30 02923836 e:ShareCapital 2022-05-01 02923836 e:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 02923836 e:RetainedEarningsAccumulatedLosses 2024-04-30 02923836 e:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 02923836 e:RetainedEarningsAccumulatedLosses 2023-04-30 02923836 e:RetainedEarningsAccumulatedLosses 2022-05-01 02923836 e:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-04-30 02923836 e:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-04-30 02923836 e:FinancialLiabilitiesFairValueThroughProfitOrLoss e:ListedExchangeTraded 2024-04-30 02923836 e:FinancialLiabilitiesFairValueThroughProfitOrLoss e:ListedExchangeTraded 2023-04-30 02923836 e:AcceleratedTaxDepreciationDeferredTax 2024-04-30 02923836 e:AcceleratedTaxDepreciationDeferredTax 2023-04-30 02923836 d:OrdinaryShareClass1 2023-05-01 2024-04-30 02923836 d:OrdinaryShareClass1 2024-04-30 02923836 d:OrdinaryShareClass1 2023-04-30 02923836 d:FRS102 2023-05-01 2024-04-30 02923836 d:Audited 2023-05-01 2024-04-30 02923836 d:FullAccounts 2023-05-01 2024-04-30 02923836 d:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 02923836 2 2023-05-01 2024-04-30 02923836 6 2023-05-01 2024-04-30 02923836 g:PoundSterling 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02923836









BROOKNIGHT SECURITY LTD









ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

 
BROOKNIGHT SECURITY LTD
 
 
COMPANY INFORMATION


Directors
J Moyes 
A Williams (appointed 5 January 2024)




Registered number
02923836



Registered office
1 North House Bond Estates
Bond Avenue

Bletchley

Milton Keynes

United Kingdom

MK1 1SW




Independent auditors
Adler Shine LLP
Chartered Accountants & Statutory Auditor

Aston House

Cornwall Avenue

London

N3 1LF





 
BROOKNIGHT SECURITY LTD
 

CONTENTS



Page
Strategic Report
1
Directors' Report
2 - 3
Independent Auditors' Report
4 - 7
Statement of Comprehensive Income
8
Balance Sheet
9
Statement of Changes in Equity
10
Statement of Cash Flows
11
Notes to the Financial Statements
12 - 27


 
BROOKNIGHT SECURITY LTD
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2024

Introduction
 
The directors present their Strategic Report on the Company for the year ended 30 April 2024.

Business review
 
Brooknight Security Limited ("Brooknight Security") is a privately owned company providing a range of security services to corporate customers, the logistics and distribution sector, and retailers. Brooknight Security provides security services for both contracted and ad-hoc customers across the UK.
Founded by CEO, James Moyes in April 1994, Brooknight Security is headquartered in Milton Keynes and employs 634 staff (2023 - 770).
The performance of the Company during the year ended 30 April 2024 has remained in line with the previous year.

Principal risks and uncertainties
 
The process of risk acceptance and risk management is addressed through a framework of policies, procedures and internal controls. All policies are subject to Board approval and ongoing review by management, risk management and an annual SIA audit. Compliance with regulation, legal and ethical standards is a high priority for the Company and the compliance team and finance department take on an important oversight role in this regard.
The principal risk for our business is the risk of a diminishing labour supply. To mitigate this risk we have to ensure we offer market rate pay and employee care.
The Company does not consider it is exposed to any financial risks such as exchange rate or interest rate risk due to its business being conducted in GBP and relatively simple debt arrangements.

Financial key performance indicators
 
Financial KPIs include revenue, gross profit, operating profit and net asset.
- Revenues in the year to 30 April 2024 has decreased by 6% (2023 increase by 20.6%) to £18,225k                   (2023 - £19,405k).
-  Operating profit decreased to £430k (2023 - £942k).
- Net assets increased by 21% (2023 - 108% increase) to £1,769k (2023 - £1,458k).

Other key performance indicators
 
Management also monitor and review non-financial KPIs such as staff turnover and staff engagement. 


This report was approved by the board and signed on its behalf.



J Moyes
Director

Date: 21 January 2025

Page 1

 
BROOKNIGHT SECURITY LTD
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2024

The directors present their report and the financial statements for the year ended 30 April 2024.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the Company's financial statements 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 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 to enable them to ensure that the financial statements comply with the Companies Act 2006They 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.

Results and dividends

The profit for the year, after taxation, amounted to £311,128 (2023 - £756,980).

Dividends of £nil were paid in the current year (2023 - £nil).

Directors

The directors who served during the year were:

J Moyes 
A Williams (appointed 5 January 2024)

Future developments

The Company continues to pursue varied new business relationships in the retail and distribution sectors. The Company is now regarded as a leader in manned security services for both the retail and logistics industries.

Engagement with employees

The Director takes an active and open approach to engaging with employees. This is achieved by the Company
maintaining an employee information web portal that is updated weekly.

Page 2

 
BROOKNIGHT SECURITY LTD
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors

The auditorsAdler Shine LLPwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





J Moyes
Director

Date: 21 January 2025

Page 3

 
BROOKNIGHT SECURITY LTD
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BROOKNIGHT SECURITY LTD
 

Opinion


We have audited the financial statements of Brooknight Security Ltd (the 'Company') for the year ended 30 April 2024, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Cash Flows, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe 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 30 April 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 United Kingdom, including the Financial Reporting Council'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.


Page 4

 
BROOKNIGHT SECURITY LTD
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BROOKNIGHT SECURITY LTD (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual ReportOur 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. 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 course of 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.


Opinion 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of 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 Directors' Report.


We have nothing to report in respect of the following matters in relation to which 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 Directors' Responsibilities Statement set out on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Page 5

 
BROOKNIGHT SECURITY LTD
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BROOKNIGHT SECURITY LTD (CONTINUED)


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 an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


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:

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, we have:
• considered the nature of the industry and sectors, control environment and business performance;
• made enquires of management about their own identification and assessment of the risk of irregularities;
• performed audit work over the risk of management override of controls, including testing of journal entries                and other adjustments for appropriateness, evaluating the business rationale of significant transactions                       outside the normal course of business and reviewing accounting estimates for bias;
• undertaken appropriate sample based testing of bank transactions;
• identified and evaluated compliance with relevant laws and regulations and made enquiries of any                   instances of non-compliance;
• discussed matters among the audit engagement team regarding how and where fraud might occur in the             financial statements and potential indicators of fraud.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


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 Auditors' Report.


Page 6

 
BROOKNIGHT SECURITY LTD
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BROOKNIGHT SECURITY LTD (CONTINUED)


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 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Alexander Chrysaphiades FCA (Senior Statutory Auditor)
  
for and on behalf of
Adler Shine LLP
 
Chartered Accountants & Statutory Auditor
  
Aston House
Cornwall Avenue
London
N3 1LF

21 January 2025
Page 7

 
BROOKNIGHT SECURITY LTD
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 APRIL 2024

2024
2023
Note
£
£

  

Turnover
 4 
18,225,043
19,404,662

Cost of sales
  
(15,108,163)
(16,164,965)

Gross profit
  
3,116,880
3,239,697

Administrative expenses
  
(2,734,406)
(2,422,707)

Other operating income
 5 
47,316
125,187

Operating profit
 6 
429,790
942,177

Amounts written off investments
  
(702)
-

Interest receivable and similar income
 9 
7,702
-

Interest payable and similar expenses
 10 
-
548

Profit before tax
  
436,790
942,725

Tax on profit
 11 
(125,862)
(185,745)

Profit for the financial year
  
310,928
756,980

There were no recognised gains and losses for 2024 or 2023 other than those included in the statement of comprehensive income.

There was no other comprehensive income for 2024 (2023:£NIL).

The notes on pages 12 to 27 form part of these financial statements.

Page 8

 
BROOKNIGHT SECURITY LTD
REGISTERED NUMBER: 02923836

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 13 
8,008
9,160

Investments
 14 
-
702

  
8,008
9,862

Current assets
  

Debtors: amounts falling due within one year
 15 
3,505,252
4,336,789

Cash at bank and in hand
 16 
1,026,379
74,328

  
4,531,631
4,411,117

Creditors: amounts falling due within one year
 17 
(2,770,921)
(2,963,189)

Net current assets
  
 
 
1,760,710
 
 
1,447,928

Total assets less current liabilities
  
1,768,718
1,457,790

  

Net assets
  
1,768,718
1,457,790


Capital and reserves
  

Called up share capital 
 20 
10,000
10,000

Profit and loss account
 21 
1,758,718
1,447,790

  
1,768,718
1,457,790


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J Moyes
Director

Date: 21 January 2025

The notes on pages 12 to 27 form part of these financial statements.

Page 9

 
BROOKNIGHT SECURITY LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 May 2022
10,000
690,810
700,810


Comprehensive income for the year

Profit for the year
-
756,980
756,980
Total comprehensive income for the year
-
756,980
756,980


Total transactions with owners
-
-
-



At 1 May 2023
10,000
1,447,790
1,457,790


Comprehensive income for the year

Profit for the year
-
310,928
310,928
Total comprehensive income for the year
-
310,928
310,928


Total transactions with owners
-
-
-


At 30 April 2024
10,000
1,758,718
1,768,718


The notes on pages 12 to 27 form part of these financial statements.

Page 10

 
BROOKNIGHT SECURITY LTD
 

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 APRIL 2024

2024
2023
£
£

Cash flows from operating activities

Profit for the financial year
310,928
756,980

Adjustments for:

Depreciation of tangible assets
4,067
9,774

Impairments of fixed assets
-
4,162

Loss on disposal of subsidiaries
702
-

Interest paid
-
(548)

Interest received
(7,702)
-

Taxation charge
125,862
185,745

Decrease/(increase) in debtors
830,656
(503,059)

(Decrease) in creditors
(125,035)
(97,518)

Corporation tax (paid)
(192,215)
(196,173)

Net cash generated from operating activities

947,263
159,363


Cash flows from investing activities

Purchase of tangible fixed assets
(2,914)
-

Interest received
7,702
-

Net cash from investing activities

4,788
-

Cash flows from financing activities

Movements on invoice discounting
-
(137,591)

Interest paid
-
548

Net cash used in financing activities
-
(137,043)

Net increase in cash and cash equivalents
952,051
22,320

Cash and cash equivalents at beginning of year
74,328
52,008

Cash and cash equivalents at the end of year
1,026,379
74,328


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
1,026,379
74,328

1,026,379
74,328


The notes on pages 12 to 27 form part of these financial statements.

Page 11

 
BROOKNIGHT SECURITY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Brooknight Security Limited is a private company limited by shares. The Company's principal activity is providing security guard services to corporate customers, the logistics and distribution sector, and retailers. The Company is incorporated in England and Wales and its trading address and registered office is 1 North House Bond Estates, Bond Avenue, Bletchley, Milton Keynes, United Kingdom, MK1 1SW. The registered number is 02923836.  

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

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company is exempt from the requirement to prepare consolidated financial statements as all of its subsidiaries are required to be excluded from consolidation by section 402 of the Companies Act 2006.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 12

 
BROOKNIGHT SECURITY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

Revenue

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. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

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.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 13

 
BROOKNIGHT SECURITY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.9

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 balance sheet 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 balance sheet 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 balance sheet date.

 
2.10

Intangible assets

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of Comprehensive Income over its useful economic life.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.11

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.

Page 14

 
BROOKNIGHT SECURITY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.11
Tangible fixed assets (continued)

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 and on a reducing balance basis.

Depreciation is provided on the following basis:

Short-term leasehold property
-
20% straight line
Plant and machinery
-
33.33% straight line
Motor vehicles
-
25% reducing balance
Office equipment
-
20% straight line
Computer equipment
-
16.67% - 20% straight line

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.

 
2.12

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 15

 
BROOKNIGHT SECURITY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.17

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” and Section 12 “Other Financial Instruments Issues” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The
Page 16

 
BROOKNIGHT SECURITY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.17
Financial instruments (continued)

impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 17

 
BROOKNIGHT SECURITY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

In the application of the Company's accounting policies, set out above, the director 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 associated assumptions are based on historical experiences and other factors that are considered relevant. Actual results may differ from these 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.
The key assumptions and other key sources of uncertainty that have a significant effect of the amounts recognised in the financial statements are described below:
Intangible and tangible fixed assets
Judgements have been made in relation to the lives of intangible and tangible fixed assets, in particular the useful economic life and residual value of assets. The director is also required to consider the carrying value of assets and whether any impairment is required.
The directors has concluded that the asset values and residual values are appropriate and are satisfied that the assets are fairly stated at the balance sheet date.
Debtor recoverability
Judgements have been made on the recoverability of debtors and the valuation of provisions and the directors are satisfied that net debts stated in the financial statements are recoverable.


4.


Turnover

An analysis of turnover by class of business is as follows:


2024
2023
£
£

Security services
18,225,043
19,404,662

18,225,043
19,404,662


2024
2023
£
£

United Kingdom
18,225,043
19,404,662

18,225,043
19,404,662


All turnover arose within the United Kingdom.

Page 18

 
BROOKNIGHT SECURITY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Other operating income

2024
2023
£
£

Other operating income
47,316
125,187

47,316
125,187



6.


Operating profit

The operating profit is stated after charging:

2024
2023
£
£

Exchange differences
709
(1,159)

Other operating lease rentals
86,418
86,235


7.


Auditors' remuneration

During the year, the Company obtained the following services from the Company's auditors:


2024
2023
£
£

Fees payable to the Company's auditors for the audit of the Company's financial statements
15,500
14,500

Page 19

 
BROOKNIGHT SECURITY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

8.


Employees

Staff costs were as follows:


2024
2023
£
£

Wages and salaries
13,259,502
14,186,435

Social security costs
1,042,064
1,146,715

Cost of defined contribution scheme
183,252
196,542

14,484,818
15,529,692


The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Administrative
26
15



Guarding
608
755

634
770


9.


Interest receivable

2024
2023
£
£


Other interest receivable
7,702
-

7,702
-


10.


Interest payable and similar expenses

2024
2023
£
£


Other loan interest payable
-
(548)

-
(548)

Page 20

 
BROOKNIGHT SECURITY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

11.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
124,982
188,318


Deferred tax


Origination and reversal of timing differences
880
(2,573)


Tax on profit
125,862
185,745

Factors affecting tax charge for the year

The tax assessed for the year is higher than (2023 - higher than) the standard rate of corporation tax in the UK of 25% (2023 - 19%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
436,690
942,725


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 19%)
109,172
183,767

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
16,695
4,065

Capital allowances for year in excess of depreciation
(672)
795

Increase or decrease in pension fund prepayment leading to an increase (decrease) in tax
(213)
(348)

Short-term timing difference leading to an increase (decrease) in taxation
880
(2,573)

Other timing differences leading to an increase (decrease) in taxation
-
39

Total tax charge for the year
125,862
185,745

Page 21

 
BROOKNIGHT SECURITY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

12.


Intangible assets




Goodwill

£





At 1 May 2023
393,925


Disposals
(393,925)



At 30 April 2024

-





At 1 May 2023
393,925


On disposals
(393,925)



At 30 April 2024

-



Net book value



At 30 April 2024
-



At 30 April 2023
-



Page 22

 
BROOKNIGHT SECURITY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

13.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Office equipment
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 May 2023
35,691
123,638
85,134
29,444
273,907


Additions
-
-
1,714
1,200
2,914



At 30 April 2024

35,691
123,638
86,848
30,644
276,821



Depreciation


At 1 May 2023
35,691
121,626
80,832
26,598
264,747


Charge for the year on owned assets
-
1,150
1,197
1,719
4,066



At 30 April 2024

35,691
122,776
82,029
28,317
268,813



Net book value



At 30 April 2024
-
862
4,819
2,327
8,008



At 30 April 2023
-
2,012
4,302
2,846
9,160

Page 23

 
BROOKNIGHT SECURITY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

14.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 May 2023
702


Disposals
(602)



At 30 April 2024

100



Impairment


Charge for the period
100



At 30 April 2024

100



Net book value



At 30 April 2024
-



At 30 April 2023
702

The dormant subsidiary, Eastern Monitoring Services Limited was dissolved on 16 July 2024 and has therefore been fully impaired at the balance sheet date. As set out in note 2.2, the Company has applied the exemption from preparing consolidated financial statements.


15.


Debtors

2024
2023
£
£


Trade debtors
2,628,350
3,526,043

Other debtors
449,064
366,053

Prepayments and accrued income
333,750
366,501

Tax recoverable
90,771
73,995

Deferred taxation
3,317
4,197

3,505,252
4,336,789


Page 24

 
BROOKNIGHT SECURITY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

16.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,026,379
74,328

1,026,379
74,328



17.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
520,252
1,342,333

Corporation tax
141,758
208,991

Other taxation and social security
1,175,580
255,466

Other creditors
776,653
837,198

Accruals and deferred income
156,678
319,201

2,770,921
2,963,189


The Company is party to a debt factoring agreement with the Royal Bank of Scotland (RBS Invoice Finance Limited) ('RBSIF').
Proceeds of factored debts are as a result of advances from RBSIF and are included in creditors. Proceeds of factored debts are secured by way of fixed and floating charges over the assets of the Company.
Bank overdrafts are secured by way of a fixed charge on the assets of the Company.

Page 25

 
BROOKNIGHT SECURITY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

18.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
1,026,379
74,328

Financial assets measured at amortised costs
3,411,164
4,263,114

4,437,543
4,337,442


Financial Liabilities


Financial Liabilities measured at amortised cost
(1,453,583)
(2,498,732)


Financial assets measured at fair value through profit or loss comprise of cash at bank and in hand.


Financial assets measured at amortised cost comprise of trade debtors, other debtors and accrued income.


Financial liabilities measured at amortised cost comprise trade payables, other creditors, accruals and deferred income.






19.


Deferred taxation




2024
2023


£

£






At beginning of year
4,197
1,624


Charged to profit or loss
(880)
2,573



At end of year
3,317
4,197

The deferred tax asset is made up as follows:

2024
2023
£
£


Accelerated capital allowances
3,317
4,197

3,317
4,197

Page 26

 
BROOKNIGHT SECURITY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

20.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



10,000 (2023 - 10,000) Ordinary shares of £1.00 each
10,000
10,000

There is a single class of ordinary shares. There are no restrictions on the distribution of dividends and the repayment of capital.



21.


Reserves

Profit and loss account

The Profit & loss account is represented by retained earnings.


22.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £183,252 (2023 - £196,542). Contributions totalling £34,410 (2023 - £37,135) were payable to the fund at the balance sheet date and are included in creditors.


23.


Transactions with directors

At the balance sheet date, £275,027 (2023 - £225,320) was due from the director and is included in debtors. The amount is interest free and repayable on demand.


24.


Related party transactions

During the year, £16,350 (2023 - £16,350) was paid to the Director in respect of rental charges.
Brooknight Services Limited has provided a interest free loan to another company also owned by one of the controlling shareholder of Brooknight Services Limited.  The outstanding balance is £89,120 (2023 : debtor of £90,698)


25.


Controlling party

The Company is controlled by the director, J Moyes and his spouse, by virtue of their shareholding in the Company.

The Company is exempt from the requirement to prepare consolidated accounts as its subsidiaries are dormant.

 
Page 27