216 false false false false false false false false false false true false false false false false false No description of principal activity 2024-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 04170839 2024-04-01 2025-03-31 04170839 2025-03-31 04170839 2024-03-31 04170839 2023-04-01 2024-03-31 04170839 2024-03-31 04170839 2023-03-31 04170839 core:FurnitureFittings 2024-04-01 2025-03-31 04170839 core:MotorVehicles 2024-04-01 2025-03-31 04170839 bus:Director3 2024-04-01 2025-03-31 04170839 bus:Director4 2024-04-01 2025-03-31 04170839 core:WithinOneYear 2025-03-31 04170839 core:WithinOneYear 2024-03-31 04170839 core:LandBuildings 2024-03-31 04170839 core:FurnitureFittings 2024-03-31 04170839 core:MotorVehicles 2024-03-31 04170839 core:LandBuildings 2025-03-31 04170839 core:FurnitureFittings 2025-03-31 04170839 core:MotorVehicles 2025-03-31 04170839 core:LandBuildings 2024-04-01 2025-03-31 04170839 core:AfterOneYear 2025-03-31 04170839 core:AfterOneYear 2024-03-31 04170839 core:ShareCapital 2025-03-31 04170839 core:ShareCapital 2024-03-31 04170839 core:RevaluationReserve 2025-03-31 04170839 core:RevaluationReserve 2024-03-31 04170839 core:RetainedEarningsAccumulatedLosses 2025-03-31 04170839 core:RetainedEarningsAccumulatedLosses 2024-03-31 04170839 core:LandBuildings 2024-03-31 04170839 core:FurnitureFittings 2024-03-31 04170839 core:MotorVehicles 2024-03-31 04170839 bus:SmallEntities 2024-04-01 2025-03-31 04170839 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 04170839 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 04170839 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 04170839 bus:FullAccounts 2024-04-01 2025-03-31
COMPANY REGISTRATION NUMBER: 04170839
LINGWOOD SECURITY MANAGEMENT LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 March 2025
LINGWOOD SECURITY MANAGEMENT LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2025
2025
2024
Note
£
£
£
FIXED ASSETS
Tangible assets
5
899,896
817,270
CURRENT ASSETS
Debtors
6
2,930,557
2,160,457
Cash at bank and in hand
39,738
74,625
----------
----------
2,970,295
2,235,082
CREDITORS: amounts falling due within one year
7
2,064,633
1,644,420
----------
----------
NET CURRENT ASSETS
905,662
590,662
----------
----------
TOTAL ASSETS LESS CURRENT LIABILITIES
1,805,558
1,407,932
CREDITORS: amounts falling due after more than one year
8
433,461
459,809
----------
----------
NET ASSETS
1,372,097
948,123
----------
----------
CAPITAL AND RESERVES
Called up share capital
100
100
Revaluation reserve
309,217
199,217
Profit and loss account
1,062,780
748,806
----------
--------
SHAREHOLDERS FUNDS
1,372,097
948,123
----------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31st March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 May 2025 , and are signed on behalf of the board by:
Mrs J M Lingwood
Miss S J Jenkins
Director
Director
Company registration number: 04170839
LINGWOOD SECURITY MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31st MARCH 2025
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Penrod Way, Heysham, Morecambe, Lancashire, LA3 2UZ.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings
-
15% straight line
Motor Vehicles
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 216 (2024: 199 ).
5. TANGIBLE ASSETS
Land and buildings
Fixtures, fittings and equipment
Motor vehicles
Total
£
£
£
£
Cost or valuation
At 1st April 2024
750,000
322,353
156,872
1,229,225
Additions
9,697
9,697
Disposals
( 30,508)
( 30,508)
Revaluations
110,000
110,000
--------
--------
--------
----------
At 31st March 2025
860,000
332,050
126,364
1,318,414
--------
--------
--------
----------
Depreciation
At 1st April 2024
298,164
113,791
411,955
Charge for the year
9,230
23,366
32,596
Disposals
( 26,033)
( 26,033)
--------
--------
--------
----------
At 31st March 2025
307,394
111,124
418,518
--------
--------
--------
----------
Carrying amount
At 31st March 2025
860,000
24,656
15,240
899,896
--------
--------
--------
----------
At 31st March 2024
750,000
24,189
43,081
817,270
--------
--------
--------
----------
Tangible assets held at valuation
On the 24th April 2025, Richard P Taylor, valued the property of the company in accordance with the RICS Valuation - Global Standards (31st January 2022). The property at 6 Penrod Way, Heysham was valued at £860,000. The historical value of this property being £550,782.
6. DEBTORS
2025
2024
£
£
Trade debtors
2,868,583
1,933,574
Amounts owed by group undertakings
163,500
Prepayments and accrued income
46,901
52,104
Other debtors
15,073
11,279
----------
----------
2,930,557
2,160,457
----------
----------
7. CREDITORS: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
26,000
25,000
Factoring overdraft
239,340
37,874
Trade creditors
600,701
570,632
Accruals and deferred income
497,176
501,428
Corporation tax
216,485
82,074
Social security and other taxes
484,931
427,412
----------
----------
2,064,633
1,644,420
----------
----------
Within the bank loans due within one year is £26,000 (2024 - £25,000) that is secured on the property owned by the company .
8. CREDITORS: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
433,461
459,809
--------
--------
The bank loan due in more than one year of £433,461 (2024 - £459,809) is secured on the property owned by the company.