Company registration number 05177834 (England and Wales)
ADT WORKPLACE LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ADT WORKPLACE LIMITED
COMPANY INFORMATION
Directors
Mr R Mansell
Mr C Sanderson
Mr D Clemetson
Company number
05177834
Registered office
The Workplace
Zebra Court
Greenside Way
Manchester
M24 1UN
Auditor
Lopian Gross Barnett & Co
1st Floor, Cloister House
Riverside
New Bailey Street
Manchester
M3 5FS
Business address
The Workplace
Zebra Court
Greenside Way
Manchester
M24 1UN
ADT WORKPLACE LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 6
Profit and loss account
7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Notes to the financial statements
11 - 20
ADT WORKPLACE LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

The directors present the strategic report for the year ended 31 December 2024.

Review of the business

Throughout the year the company have mainly delivered projects within the Northwest and the Midlands, a number of projects have also been completed for existing clients further afield in London, Hereford, Brighton & Newcastle. With a focus on providing a bespoke service to our clients delivered by our inhouse expertise, with an emphasis on providing support to our clients throughout the whole real estate cycle. As a company we have the ability and resource to undertake projects of all sizes and in a range of market sectors, our flexibility and in house expertise has helped to grow the business in a profitable manner.

 

During the year, we have continued to invest in our business systems that integrates the projects team and finance team to deliver efficiencies and productivity, improving client service and project delivery.

 

2024 has seen a year-on-year EBITDA increase of 10% to £2m (2023: £1.8m). We enter 2025 with a strong order book from which to build upon the success of 2024.

 

Principle risks and uncertainties

The company is in constant contact with its market and customers and ensures all new opportunities are explored. Diversifying our client portfolio has ensured a steady income which is not solely reliant on how the commercial property market performs.

 

Financial risk

The company takes a robust approach to the management of debtors and creditors with deposit payments required from clients before work commences. Creditors are paid when due with terms agreed in line with specific projects. All clients are credit checked prior to engagement in works to determine the value of deposit or guarantee required or if they are to be engaged with. The cash position is monitored daily against creditor and debtor reports over a 3-month period to ensure that cashflow is always robust. All suppliers are vetted to reduce the risk of non-performance and outstanding debts. Liquidity risk comes from non-payment by clients which is mitigated through robust project management and strict payment terms.

 

Future developments

Although we still expect healthy competition in 2025, we are optimistic about our position within the industry. As a result of a clear strategic plan and ensuring that we continue to build a highly motivated team with a wealth of experience, we believe the business is well placed to grow and achieve its financial targets in the forthcoming year.

On behalf of the board

Mr C Sanderson
Director
1 August 2025
ADT WORKPLACE LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -

The directors present their annual report and financial statements for the year ended 31 December 2024.

Principal activities

The principal activities of the company in the period were those of workplace design and consultancy, fitting out offices and retailing office furniture. Areas of activity are predominately focused on the North West and Midlands with projects being delivered across the whole of the UK for our long-standing corporate clients.

Results and dividends

The results for the year are set out on page 7.

Ordinary dividends were paid amounting to £1,046,192. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr R Mansell
Mr C Sanderson
Mr D Clemetson
Auditor

In accordance with the company's articles, a resolution proposing that Lopian Gross Barnett & Co be reappointed as auditor of the company will be put at a General Meeting.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mr C Sanderson
Director
1 August 2025
ADT WORKPLACE LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -

The directors are responsible 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:

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.

ADT WORKPLACE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF ADT WORKPLACE LIMITED
- 4 -
Opinion

We have audited the financial statements of ADT Workplace Limited (the 'company') for the year ended 31 December 2024 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including 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:

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's 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 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.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

ADT WORKPLACE LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBER OF ADT WORKPLACE LIMITED
- 5 -
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:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, 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's 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.

ADT WORKPLACE LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBER OF ADT WORKPLACE LIMITED
- 6 -

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, 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:

 

 

 

 

 

 

 

 

 

Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.

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

Use of our report

This report is made solely to the company's member 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 member those matters we are required to state to the member 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 member, for our audit work, for this report, or for the opinions we have formed.

Nathaniel Davidson BA(Hons) ACA
Senior Statutory Auditor
For and on behalf of Lopian Gross Barnett & Co
1 August 2025
Chartered Accountants
Statutory Auditor
1st Floor, Cloister House
Riverside
New Bailey Street
Manchester
M3 5FS
ADT WORKPLACE LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
2024
2023
Notes
£
£
Turnover
3
36,975,997
44,510,358
Cost of sales
(28,335,759)
(36,875,623)
Gross profit
8,640,238
7,634,735
Administrative expenses
(6,358,199)
(5,846,325)
Other operating income
119,136
68,942
Exceptional item
4
(380,690)
-
0
Operating profit
5
2,020,485
1,857,352
Interest receivable and similar income
8
73,401
37,372
Interest payable and similar expenses
9
(5,650)
-
0
Profit before taxation
2,088,236
1,894,724
Tax on profit
10
(523,438)
(449,801)
Profit for the financial year
1,564,798
1,444,923

The profit and loss account has been prepared on the basis that all operations are continuing operations.

ADT WORKPLACE LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
2024
2023
£
£
Profit for the year
1,564,798
1,444,923
Other comprehensive income
-
-
Total comprehensive income for the year
1,564,798
1,444,923
ADT WORKPLACE LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 9 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
12
-
0
9,349
Tangible assets
13
154,800
15,198
154,800
24,547
Current assets
Debtors
14
5,295,572
4,121,942
Cash at bank and in hand
3,954,028
2,868,676
9,249,600
6,990,618
Creditors: amounts falling due within one year
15
(7,192,079)
(5,354,013)
Net current assets
2,057,521
1,636,605
Total assets less current liabilities
2,212,321
1,661,152
Provisions for liabilities
Deferred tax liability
16
38,700
6,137
(38,700)
(6,137)
Net assets
2,173,621
1,655,015
Capital and reserves
Called up share capital
18
300
300
Profit and loss reserves
2,173,321
1,654,715
Total equity
2,173,621
1,655,015

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 1 August 2025 and are signed on its behalf by:
Mr C Sanderson
Director
Company registration number 05177834 (England and Wales)
ADT WORKPLACE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 10 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 January 2023
300
509,792
510,092
Year ended 31 December 2023:
Profit and total comprehensive income
-
1,444,923
1,444,923
Dividends
11
-
(300,000)
(300,000)
Balance at 31 December 2023
300
1,654,715
1,655,015
Year ended 31 December 2024:
Profit and total comprehensive income
-
1,564,798
1,564,798
Dividends
11
-
(1,046,192)
(1,046,192)
Balance at 31 December 2024
300
2,173,321
2,173,621
ADT WORKPLACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 11 -
1
Accounting policies
Company information

ADT Workplace Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Workplace, Zebra Court, Greenside Way, Manchester, M24 1UN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of ADT Workplace Holdings Limited. These consolidated financial statements are available from its registered office, The Workplace Zebra Court, Greenside Way, Manchester, United Kingdom, M24 1UN.

1.2
Going concern

Atruet 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.

1.3
Turnover

Turnover is accounted for as revenue when, and to the extent that, the company obtains a right to consideration in exchange for its performance of its obligations under the sales contract with the customer. The amount reported as revenue is the fair value of the right to consideration - usually the price specified in the contractual arrangement net of discounts and net of VAT, and after any allowance for credit risk and other certainties.

 

Turnover on long term contracts (those material contracts falling into more than one accounting period) is recorded in the profit and loss account as contract activity progresses. Turnover is ascertained in a manner appropriate to the stage of completion of the contract.

 

The amount by which recorded turnover is in excess of payments on account is reported as 'amounts recoverable on contracts' and separately disclosed within debtors in the balance sheet

 

The balance of payments on account (in excess of amounts (i) matched with turnover; and (ii) offset against long-term contract balances) is reported as payments on account and separately disclosed within creditors.

ADT WORKPLACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 12 -
1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
5 years straight line
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures and fittings
20% straight line
Computers
33% straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
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.

 

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.

ADT WORKPLACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 13 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

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

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

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.

ADT WORKPLACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 14 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.14
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and 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.

ADT WORKPLACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 15 -
3
Turnover and other revenue
2024
2023
£
£
Turnover analysed by class of business
Commercial interior design and fit out
36,975,996
44,510,358
Analysis per statutory database
36,975,996
44,510,358
Statutory database analysis does not agree to the trial balance by:
1
-
2024
2023
£
£
Turnover analysed by geographical market
United Kingdom
36,975,996
44,510,358
Analysis per statutory database
36,975,996
44,510,358
Statutory database analysis does not agree to the trial balance by:
1
-
2024
2023
£
£
Other revenue
Interest income
73,401
37,372
4
Exceptional item
2024
2023
£
£
Expenditure
Exceptional items
380,690
-
5
Operating profit
2024
2023
Operating profit for the year is stated after charging/(crediting):
£
£
Exchange losses/(gains)
17
(534)
Fees payable to the company's auditor for the audit of the company's financial statements
20,000
20,000
Depreciation of owned tangible fixed assets
47,160
14,140
Profit on disposal of tangible fixed assets
(217)
(1,900)
Operating lease charges
102,474
97,435
ADT WORKPLACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 16 -
6
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
58
64

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
4,676,579
4,295,709
Social security costs
576,369
502,563
Pension costs
83,973
66,374
5,336,921
4,864,646
7
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
494,835
484,499
Remuneration disclosed above include the following amounts paid to the highest paid director:
2024
2023
£
£
Remuneration for qualifying services
171,896
173,750
8
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
72,584
37,371
Other interest income
817
1
Total income
73,401
37,372
9
Interest payable and similar expenses
2024
2023
£
£
Other interest
5,650
-
0
ADT WORKPLACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 17 -
10
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
490,875
448,274
Deferred tax
Origination and reversal of timing differences
32,563
1,527
Total tax charge
523,438
449,801

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
2,088,236
1,894,724
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 23.50%)
522,059
445,260
Tax effect of expenses that are not deductible in determining taxable profit
3,662
1,808
Permanent capital allowances in excess of depreciation
(34,846)
1,206
Deferred tax
32,563
1,527
Taxation charge for the year
523,438
449,801
11
Dividends
2024
2023
£
£
Interim paid
1,046,192
300,000
ADT WORKPLACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 18 -
12
Intangible fixed assets
Software
£
Cost
At 1 January 2024
9,349
Additions
10,062
Disposals
(19,411)
At 31 December 2024
-
0
Amortisation and impairment
At 1 January 2024 and 31 December 2024
-
0
Carrying amount
At 31 December 2024
-
0
At 31 December 2023
9,349
13
Tangible fixed assets
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2024
1,667
60,277
-
0
61,944
Additions
44,861
108,293
33,990
187,144
Disposals
-
0
(510)
-
0
(510)
At 31 December 2024
46,528
168,060
33,990
248,578
Depreciation and impairment
At 1 January 2024
528
46,218
-
0
46,746
Depreciation charged in the year
5,331
33,950
7,879
47,160
Eliminated in respect of disposals
-
0
(128)
-
0
(128)
At 31 December 2024
5,859
80,040
7,879
93,778
Carrying amount
At 31 December 2024
40,669
88,020
26,111
154,800
At 31 December 2023
1,139
14,059
-
0
15,198
ADT WORKPLACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 19 -
14
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
4,335,802
3,195,102
Gross amounts owed by contract customers
803,896
633,565
Corporation tax recoverable
-
0
159,423
Other debtors
28,445
13,869
Prepayments and accrued income
127,429
119,983
5,295,572
4,121,942
15
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
3,716,039
2,027,995
Corporation tax
104,381
448,274
Other taxation and social security
1,077,346
874,486
Other creditors
69,099
39,236
Accruals and deferred income
2,225,214
1,964,022
7,192,079
5,354,013

An outstanding charge with Natwest Bank Plc exists which contains a floating charge over the company.

16
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
38,700
6,137
2024
Movements in the year:
£
Liability at 1 January 2024
6,137
Charge to profit or loss
32,563
Liability at 31 December 2024
38,700

The deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.

ADT WORKPLACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 20 -
17
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
83,973
66,374

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

18
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
100
100
100
100
Ordinary A Shares of £1 each
100
100
100
100
Ordinary B Shares of £1 each
100
100
100
100
300
300
300
300
19
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024
2023
£
£
Within one year
-
0
45,000
20
Events after the reporting date

There were no events after the reporting period end which require disclosure at the balance sheet date

21
Ultimate controlling party

ADT Workplace Limited is a wholly owned subsidiary of ADT Workplace (Holdings) Limited and the results of of ADT Workplace Limited are included in the consolidated financial statements of ADT Workplace (Holdings) Limited which are available from its registered office at The Workplace, Zebra Court, Greenside Way, Manchester, M24 1UN.

 

The group is wholly owned by an employee ownership trust.

 

The ultimate controlling parties are the Trustees of the employee ownership trust.

22
Related party transactions

There are no related party transactions that require disclosure under FRS102.

ADT WORKPLACE LIMITED
MANAGEMENT INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024
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