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Registration number: 03127248

AlertSystems Limited

Annual Report and Financial Statements

for the Year Ended 30 April 2024

 

AlertSystems Limited

Contents

Company Information

1

Strategic Report

2 to 3

Directors' Report

4 to 5

Statement of Directors' Responsibilities

6

Independent Auditor's Report

7 to 9

Profit and Loss Account

10

Balance Sheet

11

Statement of Changes in Equity

12

Notes to the Financial Statements

13 to 26

 

AlertSystems Limited

Company Information

Directors

P J Brake

M C Nickels

I C Trayling

Registered office

Alert House
1 Willowside Park
Canal Road
Trowbridge
Wiltshire
BA14 8RH

Auditors

ML Audit LLP
Statutory Auditors
Freshford House
Redcliffe Way
Bristol
BS1 6NL

 

AlertSystems Limited

Strategic Report for the Year Ended 30 April 2024

The directors present their strategic report for the year ended 30 April 2024.
 

Principal activity

The principal activity of the company continued to be that of a business security solution systems integrator.

AlertSystems Limited is an independent company, we specialise in the design, installation, service and maintenance of business security systems. With over 30 years’ experience, the company has been at the forefront of technological developments in the security industry.

As an independent company we have developed long-standing relationships with leading manufacturers. These partnerships allow us to offer our customers the most appropriate solutions to meet their operational requirements.

Our diverse customer base includes multi-site national businesses, facilities management companies, public sector organisations, manufacturers and retailers.

We hold National Security Inspectorate (NSI) Gold accreditation and BAFE SP 2013-1 for the design, installation, commissioning and maintenance of Fire Detection and Fire Alarm Systems. We also hold OHSAS 18001 and have an approved status with a number of health and safety schemes, including CHAS, SafeContractor and Constructionline.

Business review
The directors have reviewed the performance and growth of the company during the period, as detailed under the ‘key performance indicators’ below in the 'Fair review of the business' section.

Fair review of the business

The company's turnover year on year was up 1%, the consistent level of turnover is due to no new activities being introduced within the year.

The company's key financial and other performance indicators during the year were as follows:

 

Unit

2024

2023

Turnover

£

13,266,087

13,109,981

Gross profit margin

%

33

34

Gross profit

£

4,418,207

4,463,882

Turnover per employee

£

98,267

102,422

 

AlertSystems Limited

Strategic Report for the Year Ended 30 April 2024

Principal risks and uncertainties
 

Competitive market
The company operates in a competitive market that could result in losing sales to competitors. The company manages this risk by providing value added service to its customers based on quality, integrity and innovative product solutions backed by competitive finance packages and longstanding experience in the market.

Competition in the marketplace continues to be primary risk to the company, price pressure to secure new business and successfully retender existing contracts increases the threat of margin erosion.

Approved by the Board on 30 January 2025 and signed on its behalf by:

.........................................
P J Brake
Director

.........................................
M C Nickels
Director

 
     
 

AlertSystems Limited

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 of the company

The directors who held office during the year were as follows:

P J Brake

M C Nickels

I C Trayling

Financial instruments

The company has procedures to identify risk and protect and manage the company from events that may hinder it's financial performance objectives. The objectives aim to limit counterparty exposure, ensure sufficient working capital exists and monitor risk and manage it. The company does not consider it necessary to employ derivatives such as forward currency contracts to manage risk based on the company's current activities.

Objectives and policies

The company is exposed to price risk, credit risk, liquidity and cashflow risk. Appropriate policies have been developed and implemented to identify, evaluate and manage key risks and the directors review risk management strategies regularly.

The company is constantly looking for ways to expand its market offering and for different ways to market and strives to ensure that its outlets provide the highest levels of customer service which will put the company well placed to take advantage of any opportunities that may arise.

Price risk, credit risk, liquidity risk and cash flow risk

Price risk - the company's exposure to price risk is mitigated by all prices being reviewed and set by management.

Credit risk - the company is exposed to credit risk and management ensure credit checks are completed on all new customers and chase debts on a regular basis once they become overdue.

Liquidity and cash flow risk - the company's exposure to liquidity risk is minimal and the company has adequate working capital. The company is exposed to cash flow risk as a result of the timing between paying suppliers and the receipt of money from customers and management manage this through the use of customer credit checks and daily cash flow management.

Disclosure of information to the auditors

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

Reappointment of auditors

The auditors, ML Audit LLP, are deemed to be reappointed under section 487(2) of the Companies Act 2006.

 

AlertSystems Limited

Directors' Report for the Year Ended 30 April 2024

Approved by the Board on 30 January 2025 and signed on its behalf by:

P J Brake
Director

M C Nickels
Director

 
     
 

AlertSystems Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

AlertSystems Limited

Independent Auditor's Report to the Members of AlertSystems Limited

Opinion

We have audited the financial statements of AlertSystems Limited (the 'company') for the year ended 30 April 2024, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, and 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 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 auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements were authorised for issue.

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

Other information

The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

 

AlertSystems Limited

Independent Auditor's Report to the Members of AlertSystems Limited

Opinion on other matter 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Strategic Report and 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 our 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 and the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

the financial statements are not in agreement with the accounting records and returns; or

certain disclosures of directors' remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page 6, 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.

Auditor 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 auditor’s 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.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team:

obtained an understanding of the nature of the industry and sector, including the legal and regulatory framework that the company operates in and how the company is complying with the legal and regulatory framework;

inquired of management, and those charged with governance, about their own identification and assessment of the risks or irregularities, including known and actual, suspected or alleged instances of fraud;

 

AlertSystems Limited

Independent Auditor's Report to the Members of AlertSystems Limited

discussed matters about non-compliance with laws and regulations and how fraud might occur including assessment of how and where the financial statements may be susceptible to fraud.

However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity’s operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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 an auditor’s 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.

......................................
Ian Lloyd (Senior Statutory Auditor)
For and on behalf of ML Audit LLP, Statutory Auditor
Freshford House
Redcliffe Way
Bristol
BS1 6NL

30 January 2025

 

AlertSystems Limited

Profit and Loss Account for the Year Ended 30 April 2024

Note

2024
£

2023
£

Turnover

3

13,266,087

13,109,981

Cost of sales

 

(8,847,880)

(8,646,099)

Gross profit

 

4,418,207

4,463,882

Administrative expenses

 

(3,844,855)

(3,402,002)

Other operating income

4

(47,525)

4,413

Operating profit

5

525,827

1,066,293

Other interest receivable and similar income

6

16,349

5,658

Interest payable and similar expenses

7

(25,789)

(15,990)

   

(9,440)

(10,332)

Profit before tax

 

516,387

1,055,961

Tax on profit

11

(109,061)

(208,749)

Profit for the financial year

 

407,326

847,212

The above results were derived from continuing operations.

The company has no recognised gains or losses for this or the preceeding year other than the results above, accordingly, a separate Statement of Other Comprehensive Income has not been presented.

 

AlertSystems Limited

(Registration number: 03127248)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

12

357,201

282,108

Current assets

 

Stocks

13

790,598

908,140

Debtors

14

3,250,689

2,666,320

Cash at bank and in hand

15

1,450,473

2,453,493

 

5,491,760

6,027,953

Creditors: Amounts falling due within one year

16

(3,410,359)

(3,468,505)

Net current assets

 

2,081,401

2,559,448

Total assets less current liabilities

 

2,438,602

2,841,556

Creditors: Amounts falling due after more than one year

16

(114,496)

(116,279)

Provisions for liabilities

17

(79,167)

(56,164)

Net assets

 

2,244,939

2,669,113

Capital and reserves

 

Called up share capital

19

1,000

1,000

Retained earnings

2,243,939

2,668,113

Shareholders' funds

 

2,244,939

2,669,113

Approved and authorised by the Board on 30 January 2025 and signed on its behalf by:
 

P J Brake
Director

M C Nickels
Director

 
     
 

AlertSystems Limited

Statement of Changes in Equity for the Year Ended 30 April 2024

Share capital
£

Retained earnings
£

Total
£

At 1 May 2023

1,000

2,668,113

2,669,113

Profit for the year

-

407,326

407,326

Dividends

-

(831,500)

(831,500)

At 30 April 2024

1,000

2,243,939

2,244,939


 

Share capital
£

Retained earnings
£

Total
£

At 1 May 2022

1,000

2,641,486

2,642,486

Profit for the year

-

847,212

847,212

Dividends

-

(820,585)

(820,585)

At 30 April 2023

1,000

2,668,113

2,669,113

 

AlertSystems Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Alert House
1 Willowside Park
Canal Road
Trowbridge
Wiltshire
BA14 8RH

These financial statements were authorised for issue by the Board on 30 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

Summary of disclosure exemptions

The directors have taken advantage of the Financial Reporting Standards 102 reduced disclosure exemptions from including a cash flow statement, financial instrument disclosure and key management personnel on the grounds the company is wholly owned and its parent publishes this information in its consolidated financial statements.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have been mindful of any potential impacts from future relationships with Europe, the current high inflation, and the current situation in Ukraine. Furthermore, the directors have reviewed budgets and projections for the next twelve months. From this review, the directors consider that the company is unlikely to be significantly affected and thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

 

AlertSystems Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

During the year management have decided to introduce a consistent estimation of slow moving stock. The estimation introduced is in respect of finished goods that are slow moving and unlikely to sell within one year of the financial reporting date. The provision included in the financial statements is £13,565 (2023 - £13,565).

The directors have made a provision for potential bad and doubtful debts. This estimation is based on the ageing of debts and the likelihood of their recoverability. The provision included in the financial statements is £84,265 (2023 - £76,805).

Revenue recognition

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Finance income and costs policy

Interest income and expenses are recognised using the effective interest rate method.

Foreign currency transactions and balances

Transactions in currencies other than the presentational currency of these financial statements are recorded at the prevailing exchange rate on the date of the transaction. At each reporting end date, assets and liabilities recorded in foreign currency are retranslated at the prevailing exchange rate on the reporting end date. Any gains or losses arising on retranslation are recognised in the profit and loss account.

Tax

The tax expense represents the sum of the tax currently payable and deferred tax. Tax is recognised in the profit or loss except that a charge attributable to an item of income or expense recognised as other comprehensive income is recognised in other comprehensive income.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax is provided at appropriate rates on all timing differences only to the extent that, in the opinion of the directors, there is a reasonable probability that a liability of asset will crystallise in the foreseeable future. Deferred tax is recovered using tax rates expected to apply at the reversal of the timing difference.

Deferred and current taxation assets or liabilities are not discounted.

 

AlertSystems Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

25% straight line

Furniture, fittings and equipment

25-33% straight line

Motor vehicles

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

AlertSystems Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the profit and loss on a straight line basis over the period of the lease.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

AlertSystems Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

3

Turnover

The analysis of the company's Turnover for the year from continuing operations is as follows:

2024
£

2023
£

Rendering of services

13,266,087

13,109,981

The analysis of the company's Turnover for the year by market is as follows:

2024
£

2023
£

UK

13,266,087

13,109,981

4

Other operating income

The analysis of the company's other operating income for the year is as follows:

2024
£

2023
£

Management charges receivable

(47,525)

4,413

5

Operating profit

Arrived at after charging/(crediting):

2024
£

2023
£

Depreciation expense

137,480

115,793

Operating lease expense - property

121,095

108,598

Operating lease expense - plant and machinery

320,554

238,242

Profit on disposal of property, plant and equipment

-

(13,633)

6

Other interest receivable and similar income

2024
£

2023
£

Interest income on bank deposits

16,349

5,121

Other finance income

-

537

16,349

5,658

7

Interest payable and similar expenses

2024
£

2023
£

Interest on obligations under finance leases and hire purchase contracts

25,789

15,990

 

AlertSystems Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

8

Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

2024
£

2023
£

Wages and salaries

4,936,323

4,488,885

Social security costs

504,150

468,980

Pension costs, defined contribution scheme

249,239

147,812

Other employee expense

34,592

31,348

5,724,304

5,137,025

The average number of persons employed by the company (including directors) during the year, analysed by category, was as follows:

2024
No.

2023
No.

Administration and support

17

13

Sales, marketing and distribution

28

25

Other departments

90

90

135

128

9

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

280,027

198,310

Contributions paid to money purchase schemes

101,000

11,600

381,027

209,910

During the year the number of directors who were receiving benefits and share incentives was as follows:

2024
No.

2023
No.

Accruing benefits under share incentive scheme

1

1

Accruing benefits under money purchase pension scheme

2

2

In respect of the highest paid director:

2024
£

2023
£

Remuneration

216,014

154,224

Company contributions to money purchase pension schemes

6,000

6,000

 

AlertSystems Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

10

Auditors' remuneration

2024
£

2023
£

Audit of the financial statements

10,000

12,119

Other fees to auditors

All other non-audit services

28,398

15,618


 

11

Taxation

Tax charged/(credited) in the income statement:

2024
£

2023
£

Current taxation

UK corporation tax

83,458

182,693

UK corporation tax adjustment to prior periods

2,600

-

86,058

182,693

Deferred taxation

Arising from origination and reversal of timing differences

23,003

26,056

Tax expense in the profit and loss account

109,061

208,749

The tax on profit before tax for the year is lower than the standard rate of corporation tax in the UK (2023 - lower than the standard rate of corporation tax in the UK) of 25% (2023 - 19.49%).

The differences are reconciled below:

2024
£

2023
£

Profit before tax

516,387

1,055,961

Corporation tax at standard rate

129,097

205,840

Decrease in UK and foreign current tax from adjustment for prior periods

-

(1,162)

Increase from effect of different UK tax rates on some earnings

-

5,995

Effect of expense not deductible in determining taxable profit (tax loss)

16,040

5,860

Tax decrease from effect of exercise of employee share options

(25,416)

-

Tax decrease arising from group relief

(13,260)

-

Deferred tax expense from unrecognised temporary difference from a prior period

2,600

-

Decrease from effect of tax incentives

-

(7,784)

Total tax charge

109,061

208,749

 

AlertSystems Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Deferred tax

Deferred tax assets and liabilities

2024

Liability
£

Accelerated tax depreciation

81,870

Retirement benefit obligations

(2,703)

79,167

2023

Liability
£

Accelerated tax depreciation

58,883

Retirement benefit obligations

(2,719)

56,164

12

Tangible assets

Leasehold improvements
£

Furniture, fittings and equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

121,668

734,199

315,516

1,171,383

Additions

97,300

83,206

32,067

212,573

At 30 April 2024

218,968

817,405

347,583

1,383,956

Depreciation

At 1 May 2023

107,956

667,123

114,196

889,275

Charge for the year

24,638

39,098

73,744

137,480

At 30 April 2024

132,594

706,221

187,940

1,026,755

Carrying amount

At 30 April 2024

86,374

111,184

159,643

357,201

At 30 April 2023

13,712

67,076

201,320

282,108

Assets held under finance leases and hire purchase contracts

The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:

2024
£

2023
£

Leasehold improvements

77,029

-

Furniture, fittings and equipment

74,850

-

Motor vehicles

148,180

201,320

300,059

201,320

 

AlertSystems Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

13

Stocks

2024
£

2023
£

Work in progress

29,171

128,381

Finished goods and goods for resale

761,427

779,759

790,598

908,140

Good for resale are stated after provision for impairment of £13,565 (2023 - £13,565).

There is no significant difference between the replacement costs of stock for resale and its carrying amount.

14

Debtors

Note

2024
£

2023
£

Trade debtors

 

2,371,625

1,677,887

Amounts owed by related parties

23

310,586

372,308

Other debtors

 

-

150

Prepayments

 

170,650

254,510

Accrued income

 

381,286

361,465

Income tax asset

11

16,542

-

 

3,250,689

2,666,320

Trade debtors are stated after the provision for impairment of £84,265 (2023 - £76,805).

15

Cash and cash equivalents

2024
£

2023
£

Cash on hand

526

404

Cash at bank

426,830

1,446,321

Short-term deposits

1,023,117

1,006,768

1,450,473

2,453,493

 

AlertSystems Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

16

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

20

146,822

98,981

Trade creditors

 

942,355

701,722

Amounts due to related parties

23

-

112,447

Social security and other taxes

 

545,921

458,605

Outstanding defined contribution pension costs

 

28,006

35,849

Other creditors

 

-

167

Accruals

 

122,870

127,119

Corporation tax

11

-

111,100

Deferred income

 

1,624,385

1,822,515

 

3,410,359

3,468,505

Due after one year

 

Loans and borrowings

20

114,496

116,279

17

Provisions for liabilities

Deferred tax
£

Total
£

At 1 May 2023

56,164

56,164

Increase (decrease) in existing provisions

23,003

23,003

At 30 April 2024

79,167

79,167

18

Pension and other schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £249,239 (2023 - £147,812).

Contributions totalling £28,006 (2023 - £35,849) were payable to the scheme at the end of the year and are included in creditors.

 

AlertSystems Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

19

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

       

Rights, preferences and restrictions

Ordinary shares have the following rights, preferences and restrictions:
Ordinary £1 shares hold full voting rights.

20

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

146,822

98,981

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

114,496

116,279

Hire purchase contracts are secured over the assets to which they relate.

A fixed and floating charge exists covering all the property or undertakings of the company in favour of National Westminster Bank PLC dated 9 December 2015.

A fixed and floating charge exists over all property and undertakings of the company in favour of RBS Invoice Finance dated 29 March 2018 in respect of an invoice financing facility.


Invoice financing facility

The invoice financing facility has a positive balance of £164,188 (2023 - positive balance of £120,662) and is secured by a fixed and floating charge over the assets of the company, including trade debtors of £940,517 (2023 - £783,708) held under the invoice financing agreement.

 

AlertSystems Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

21

Obligations under leases and hire purchase contracts

Finance leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

146,822

98,981

Later than one year and not later than five years

114,496

116,279

261,318

215,260

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

101,119

87,579

Later than one year and not later than five years

280,900

100,749

Later than five years

387,377

-

769,396

188,328

The amount of non-cancellable operating lease payments recognised as an expense during the year was £441,649 (2023 - £346,840).

22

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £831.50 (2023 - £820.59) per each Ordinary share

831,500

820,585

 

 

23

Related party transactions

The company has taken advantage of the exemption within FRS 102 Section 33 in respect of Related Party Transactions not to disclose transactions or balances with wholly owned members of the group.

Summary of transactions with other related parties

Other related parties include companies under common control and transactions with close family members of key management.
 

 

AlertSystems Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Expenditure with and payables to related parties

2024

Key management
£

Leases

69,500

2023

Key management
£

Leases

69,577

Loans to related parties

2024

Parent
£

Other related parties
£

Total
£

At start of period

66,520

305,788

372,308

Advanced

811,475

109,350

920,825

Repaid

(836,199)

(146,348)

(982,547)

At end of period

41,796

268,790

310,586

2023

Parent
£

Other related parties
£

Total
£

At start of period

66,520

217,668

284,188

Advanced

820,585

148,440

969,025

Repaid

(820,585)

(60,320)

(880,905)

At end of period

66,520

305,788

372,308

Amounts owed by related parties were charged interest at 5% per annum to 31 July 2021, with no interest being charged from this date onwards. The amounts owed have no fixed date of repayment and are repayable on demand.

Loans from related parties

2024

Other related parties
£

Total
£

At start of period

112,447

112,447

Advanced

(645,843)

(645,843)

Repaid

533,396

533,396

At end of period

-

-

2023

Other related parties
£

Total
£

At start of period

16,387

16,387

Advanced

(444,552)

(444,552)

Repaid

540,612

540,612

At end of period

112,447

112,447

 

AlertSystems Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

24

Parent and ultimate parent undertaking

The immediate parent is AlertSystems Group Limited, incorporated in England and Wales.

 The most senior parent entity producing publicly available financial statements is AlertSystems Group Limited. These financial statements are available upon request from Alert House, One Willowside Park, Canal Road, Trowbridge, Wiltshire BA14 8RH.

 The ultimate controlling party is P J Brake and M C Nickels by virtue of their equity shareholding in the ultimate parent company.