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REGISTERED NUMBER: 05527150 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

GMS SECURITY SERVICES LIMITED

GMS SECURITY SERVICES LIMITED (REGISTERED NUMBER: 05527150)

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










Page

Company Information 1

Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 5

Statement of Income and Retained Earnings 8

Balance Sheet 9

Notes to the Financial Statements 10


GMS SECURITY SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTOR: N J Male





REGISTERED OFFICE: Admiral House
Waterfront East
Brierley Hill
West Midlands
DY5 1XG





REGISTERED NUMBER: 05527150 (England and Wales)





AUDITORS: Blackthorns
Chartered Accountants
and Registered Auditors
Admiral House
Waterfront East
Brierley Hill
West Midlands
DY5 1XG

GMS SECURITY SERVICES LIMITED (REGISTERED NUMBER: 05527150)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2024


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

REVIEW OF BUSINESS
The company provides, on a national basis, security services encompassing licensed activities such as manned guarding, mobile patrols, key holding and security reviews.

The company's statement of income and retained earnings is shown on page 8. The profit for the year is £230,478 (2023 - loss £16,171).

PRINCIPAL RISKS AND UNCERTAINTIES
The key principal risk and uncertainty facing the company is a rising cost base which is driven by factors outside their control. This predominantly relates to employment law legislation and the company's policy to provide competitive employment contracts to its workforce.

Pending legislation under business licensing within the security sector is still an unknown.

The director does not believe there to be any other significant risks.

FINANCIAL KEY PERFORMANCE INDICATORS
The company manages all of its functions centrally with key performance indicators outlined as below:

- Turnover, Gross Profit, ACS Audit Scoring etc.
- Operations: Client satisfaction, customer complaints etc.
- Officer: Annual Appraisal, 360 feedback etc.
- Environment: ISO14001, management

ON BEHALF OF THE BOARD:





N J Male - Director


23 May 2025

GMS SECURITY SERVICES LIMITED (REGISTERED NUMBER: 05527150)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 AUGUST 2024


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

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the provision of security services.

DIVIDENDS
Dividends of £172,214 (2023 - £132,930) were payable during the year.

FUTURE DEVELOPMENTS
The director expects the general level of activity to increase in the forthcoming year. This is as a result of key account growth and contract wins as well as diversifying into other niche areas.

The director does not foresee any changes to the principal activity of the company.

DIRECTOR
N J Male held office during the whole of the period from 1 September 2023 to the date of this report.

DISABLED EMPLOYEES
The company's policy in respect of disabled persons is that their applications for employment are always fully and fairly considered, bearing in mind the aptitudes and abilities of the applicant concerned. In the event of a member of staff becoming disabled, every effort is made to ensure that employment within the company continues and where necessary, appropriate training is arranged. It is the company's policy that training, career development and promotion of disabled persons should, as far as possible, be identical with that of all other employees in a similar position.

EMPLOYEE INVOLVEMENT
The company's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests.

Information on matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the company's performance.

DISCLOSURE IN THE STRATEGIC REPORT
The directors have opted to disclose the results of the business within the strategic report as they consider these items to be of sufficient strategic importance to the financial statements.

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

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

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


GMS SECURITY SERVICES LIMITED (REGISTERED NUMBER: 05527150)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 AUGUST 2024

STATEMENT OF DIRECTOR'S RESPONSIBILITIES - continued
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

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

ON BEHALF OF THE BOARD:





N J Male - Director


23 May 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
GMS SECURITY SERVICES LIMITED


Opinion
We have audited the financial statements of GMS Security Services Limited (the 'company') for the year ended 31 August 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet 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 31 August 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

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

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

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
GMS SECURITY SERVICES LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on pages three and four, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

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

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the company and industry we did not identify any risks of non compliance with laws and regulations that would impact on the company's ability to trade or have a material impact on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements, such as the Companies Act 2006 and UK tax legislation. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risk was regarding completeness of income. Audit procedures performed included:


-
discussions with management, including consideration of known or suspected instances of non-compliance
with laws and regulations and fraud;
- reviewing correspondence for any issues of non-compliance;

-
identifying and testing journal entries both at the year end and during the year, in particular any journal
entries posted with unusual account combinations or posted by senior management; and

-
challenging assumptions and judgements made by management in their significant accounting estimates
and judgements.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
GMS SECURITY SERVICES LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Victoria Brassington BA FCA (Senior Statutory Auditor)
for and on behalf of Blackthorns
Chartered Accountants
and Registered Auditors
Admiral House
Waterfront East
Brierley Hill
West Midlands
DY5 1XG

27 May 2025

GMS SECURITY SERVICES LIMITED (REGISTERED NUMBER: 05527150)

STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 AUGUST 2024

31.8.24 31.8.23
Notes £    £   

TURNOVER 3 19,744,694 15,263,528

Cost of sales 17,266,452 13,400,531
GROSS PROFIT 2,478,242 1,862,997

Administrative expenses 1,919,589 1,820,425
OPERATING PROFIT 558,653 42,572

Interest receivable and similar income 887 -
559,540 42,572

Interest payable and similar expenses 5 213,062 152,498
PROFIT/(LOSS) BEFORE TAXATION 6 346,478 (109,926 )

Tax on profit/(loss) 7 116,000 (93,755 )
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

230,478

(16,171

)

Retained earnings at beginning of year 734,123 883,224

Dividends 8 (172,214 ) (132,930 )

RETAINED EARNINGS AT END OF
YEAR

792,387

734,123

GMS SECURITY SERVICES LIMITED (REGISTERED NUMBER: 05527150)

BALANCE SHEET
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 9 100,287 163,764

CURRENT ASSETS
Debtors 10 5,557,160 5,200,376
Cash at bank 97,844 820,589
5,655,004 6,020,965
CREDITORS
Amounts falling due within one year 11 4,950,991 5,389,658
NET CURRENT ASSETS 704,013 631,307
TOTAL ASSETS LESS CURRENT
LIABILITIES

804,300

795,071

CREDITORS
Amounts falling due after more than one
year

12

(6,733

)

(54,768

)

PROVISIONS FOR LIABILITIES 16 (5,000 ) (6,000 )
NET ASSETS 792,567 734,303

CAPITAL AND RESERVES
Called up share capital 17 99 99
Share premium 18 81 81
Retained earnings 18 792,387 734,123
SHAREHOLDERS' FUNDS 792,567 734,303

The financial statements were approved by the director and authorised for issue on 23 May 2025 and were signed by:





N J Male - Director


GMS SECURITY SERVICES LIMITED (REGISTERED NUMBER: 05527150)

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


1. STATUTORY INFORMATION

GMS Security Services Limited is a private company, limited by shares, registered in England and Wales, registered number 05527150. Its registered office is Admiral House, Waterfront East, Brierley Hill, West Midlands, England, DY5 1XG.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 33.7.

Critical accounting judgements and key sources of estimation uncertainty
The company makes estimates and assumptions concerning the future. The directors are also required to exercise judgement in the process of applying the company's accounting policies. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

In preparing these financial statements the director has made the following judgements:

Recoverability of trade debtors
Trade and other debtors are recognised to the extent that they are judged recoverable. The director review is performed to estimate the level of reserves required for irrecoverable debt. Provisions are made specifically against invoices where recoverability is uncertain.

The director makes allowances for doubtful debts based on an assessment of the recoverability of debtors. Allowances are applied to debtors where events or changes inc circumstances indicate that the carrying amounts may not be recoverable. The director specifically analyses historical bad debts, customer creditworthiness, current economic trends and changes in customer payment terms when making a judgement to evaluate the adequacy of the provision for doubtful debts. Where the expectation is different from the original estimate, such differences will impact the carrying value of debtors and the charge in the statement of income and retained earnings.

Leasing
The company determines whether leases entered into by the company as a lessee are operating or finance leases. These decisions depend on the assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis based on an evaluation of the terms and conditions of the arrangements, and accordingly whether the lease requires an asset and liability to be recognised in the balance sheet.


GMS SECURITY SERVICES LIMITED (REGISTERED NUMBER: 05527150)

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


2. ACCOUNTING POLICIES - continued

Provisions
A provision is recognised when the company has a present legal or constructive obligation as a result of a past event for which it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated. Whether a present obligation is probable or not requires judgement. The nature and type of risks for these provisions differ and management's judgement is applied regarding the nature and extent of obligations in deciding if an outflow of resources is probable or not.

Taxation
There are many transactions and calculations for which the ultimate tax determination is uncertain. The company recognises liabilities for anticipated tax issues based on estimates of whether additional taxes will be due.

The director's estimation is required to determine the amount of deferred tax assets that cab be recognised, based upon likely timing and level of future taxable profits together with an assessment of the effect of future tax planning strategies.

Turnover
Turnover is measured at 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 turnover is recognised:

Rendering of services
Turnover from a contract to provide services is recognised when all of the following conditions are satisfied:

-the company has transferred the significant risks and rewards of ownership to the buyer;

-
the company retains neither continuing managerial involvement to the degree usually associated with
ownership nor effective control over the services provided;
-the amount of revenue can be measured reliably;
-it is probable that the company will receive consideration due under the transaction;
-the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 25% on cost and 20% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


GMS SECURITY SERVICES LIMITED (REGISTERED NUMBER: 05527150)

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


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such arrangements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the statement of income and retained earnings so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Financial instruments
Basic financial liabilities, including trade and other debtors, bank loans and other loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

3. TURNOVER

The turnover and profit (2023 - loss) before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

31.8.24 31.8.23
£    £   
Supply of services 19,744,694 15,263,528
19,744,694 15,263,528

GMS SECURITY SERVICES LIMITED (REGISTERED NUMBER: 05527150)

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


4. EMPLOYEES AND DIRECTORS
31.8.24 31.8.23
£    £   
Wages and salaries 12,409,371 10,137,170
Social security costs 1,118,095 906,477
Other pension costs 198,225 186,297
13,725,691 11,229,944

The average number of employees during the year was as follows:
31.8.24 31.8.23

Administrative 15 15
Guards and security 418 397
433 412

31.8.24 31.8.23
£    £   
Director's remuneration - -

5. INTEREST PAYABLE AND SIMILAR EXPENSES
31.8.24 31.8.23
£    £   
Interest payable 211,457 145,035
Hire purchase 1,605 7,463
213,062 152,498

6. PROFIT/(LOSS) BEFORE TAXATION

The profit (2023 - loss) is stated after charging:

31.8.24 31.8.23
£    £   
Hire of plant and machinery 3,359 3,517
Other operating leases 186,863 158,632
Depreciation - owned assets 64,782 82,742
Loss on disposal of fixed assets - 16,743
Auditors' remuneration 9,800 9,800
Donations 18,909 22,010
Auditors' remuneration for non-audit and other compliance work 19,264 1,080

GMS SECURITY SERVICES LIMITED (REGISTERED NUMBER: 05527150)

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


7. TAXATION

Analysis of the tax charge/(credit)
The tax charge/(credit) on the profit for the year was as follows:
31.8.24 31.8.23
£    £   
Current tax:
UK corporation tax 117,000 (31,468 )
Over/under provision - (46,287 )
Total current tax 117,000 (77,755 )

Deferred tax (1,000 ) (16,000 )
Tax on profit/(loss) 116,000 (93,755 )

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

31.8.24 31.8.23
£    £   
Profit/(loss) before tax 346,478 (109,926 )
Profit/(loss) multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 21.500%)

86,620

(23,634

)

Effects of:
Expenses not deductible for tax purposes 17,104 14,174
Depreciation in excess of capital allowances 14,917 15,960
Adjustments to tax charge in respect of previous periods - (8,020 )
Other sundry tax adjustments (1,641 ) 53
Deferred tax (1,000 ) (16,000 )
R&D Tax claims - (76,288 )
Total tax charge/(credit) 116,000 (93,755 )

8. DIVIDENDS
31.8.24 31.8.23
£    £   
Ordinary shares of £1 each
Final 172,214 132,930

GMS SECURITY SERVICES LIMITED (REGISTERED NUMBER: 05527150)

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


9. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 September 2023 248,446 115,431 127,479 491,356
Additions - - 1,305 1,305
At 31 August 2024 248,446 115,431 128,784 492,661
DEPRECIATION
At 1 September 2023 110,817 97,163 119,612 327,592
Charge for year 53,224 8,449 3,109 64,782
At 31 August 2024 164,041 105,612 122,721 392,374
NET BOOK VALUE
At 31 August 2024 84,405 9,819 6,063 100,287
At 31 August 2023 137,629 18,268 7,867 163,764

The net book value of assets held under finance leases or hire purchase contracts included above was fixtures and fittings £9,819 (2023 - £18,235).

10. DEBTORS
31.8.24 31.8.23
£    £   
Amounts falling due within one year:
Trade debtors 4,249,276 3,952,678
Amounts owed by group undertakings 554,970 534,692
Other debtors 6,109 5,657
Tax 30,000 76,287
Prepayments and accrued income 469,961 388,525
5,310,316 4,957,839

Amounts falling due after more than one year:
Other debtors 246,844 242,537

Aggregate amounts 5,557,160 5,200,376

GMS SECURITY SERVICES LIMITED (REGISTERED NUMBER: 05527150)

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


11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts (see note 13) 1,683,184 2,911,328
Hire purchase contracts (see note 14) 6,733 6,172
Trade creditors 1,328,031 899,662
Tax 117,000 -
Social security and other taxes 286,142 261,903
VAT 232,783 173,357
Other creditors 876,325 776,685
Directors' current accounts 48,111 21,450
Accruals and deferred income 372,682 339,101
4,950,991 5,389,658

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans (see note 13) - 40,741
Hire purchase contracts (see note 14) 6,733 14,027
6,733 54,768

13. LOANS

An analysis of the maturity of loans is given below:

31.8.24 31.8.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 1,642,443 2,866,884
Bank loans 40,741 44,444
1,683,184 2,911,328

Amounts falling due between one and two years:
Bank loans - 1-2 years - 40,741

GMS SECURITY SERVICES LIMITED (REGISTERED NUMBER: 05527150)

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


14. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.8.24 31.8.23
£    £   
Net obligations repayable:
Within one year 6,733 6,172
Between one and five years 6,733 14,027
13,466 20,199

Non-cancellable operating leases
31.8.24 31.8.23
£    £   
Within one year 107,432 119,976
Between one and five years 69,198 133,763
176,630 253,739

15. SECURED DEBTS

Included within creditors is an amount of £1,642,443 (2023 - £2,866,884) which is secured against trade debtors.

Hire purchase liabilities are secured against the assets financed.

16. PROVISIONS FOR LIABILITIES
31.8.24 31.8.23
£    £   
Deferred tax
Accelerated capital allowances 5,000 6,000

Deferred
tax
£   
Balance at 1 September 2023 6,000
Provided during year (1,000 )
Balance at 31 August 2024 5,000

GMS SECURITY SERVICES LIMITED (REGISTERED NUMBER: 05527150)

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


17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
90 Ordinary £1 90 90
90 Ordinary B £0.10 9 9
99 99

The ordinary shares of £1 each and Ordinary B shares of £0.10 rank pari passu in all respects except that on a winding up process, proceeds are first attributable to the holders of the Ordinary shares. A sum equal to £1,000,000 would be distributed pro rata to the holders of the Ordinary shares together with a sum equal to the issued share price of each Ordinary share held. Once the distribution has been made, the balance of the assets shall continue to be distributed pro rata amongst the holders of the Ordinary B shares.

18. RESERVES

Share premium account
Includes any premium received on issue of share capital.

Profit and loss account
This reserve represents the cumulative comprehensive income for the year and prior periods less dividends paid.

19. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

31.8.24 31.8.23
£    £   
N J Male
Balance outstanding at start of year (21,451 ) 30,711
Amounts advanced 19,928 8,457
Amounts repaid (43,302 ) (60,619 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (44,825 ) (21,451 )

The above amounts were unsecured, interest free and repayable on demand.

20. RELATED PARTY DISCLOSURES

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

GMS SECURITY SERVICES LIMITED (REGISTERED NUMBER: 05527150)

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


21. ULTIMATE CONTROLLING PARTY

Until 28 October 2024, the immediate parent company was Blackthorns 61 Limited (formerly GMS Realisations Two Limited), and the ultimate parent company was GMS Group of Companies Limited, a company under the control of N J Male and Mrs E Male.

The largest and smallest group in which the consolidated accounts of this company are available is headed by GMS Group of Companies Limited, a company registered in England and Wales. Consolidated financial statements are available from Companies House, Cardiff, CF14 3UZ.

From 28 October 2024, the ultimate parent company is GMS Realisations Group Limited, a company under the control of N J Male.