Company No: 01369559 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

Directors	E Rimell
	D H D Walker

Registered office	Niddry Lodge
	51 Holland Street
	London
	W8 7JB
	United Kingdom

Company number

01369559 (England and Wales)

Accountant	Kreston Reeves LLP
	2nd Floor
	168 Shoreditch High Street
	London
	E1 6RA

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	2,010		2,673
Investments	4	361		361
		2,371		3,034
Current assets
Debtors
- due within one year	5	1,168,446		128,575
- due after more than one year	5	0		623,557
Cash at bank and in hand	6	269,513		538,246
		1,437,959		1,290,378
Creditors: amounts falling due within one year	7	( 648,922)		( 546,294)
Net current assets		789,037		744,084
Total assets less current liabilities		791,408		747,118
Net assets		791,408		747,118
Capital and reserves
Called-up share capital	9	10,002		10,002
Profit and loss account		781,406		737,116
Total shareholders' funds		791,408		747,118

For the financial year ending 30 June 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 financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Comprehensive Income has not been delivered.

The financial statements of Saladin Security Limited (registered number: 01369559) were approved and authorised for issue by the Board of Directors on 17 September 2025. They were signed on its behalf by:

E Rimell Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Saladin Security Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Niddry Lodge, 51 Holland Street, London, W8 7JB, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

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

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

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

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within administrative expenses.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Comprehensive Income in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles	4 years straight line
Office equipment	3 - 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis.

Impairment of assets

Assets are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

Fixed asset investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

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.

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

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted
salary cost of the future holiday entitlement so accrued at the balance sheet date.

Exemption from preparing consolidated financial statements

The Company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption from preparing consolidated accounts.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	66		66

3. Tangible assets

	Vehicles		Office equipment		Total
	£		£		£
Cost
At 01 July 2024	74,992		15,962		90,954
Additions	0		995		995
Disposals	0		( 719)		( 719)
At 30 June 2025	74,992		16,238		91,230
Accumulated depreciation
At 01 July 2024	74,992		13,289		88,281
Charge for the financial year	0		1,658		1,658
Disposals	0		( 719)		( 719)
At 30 June 2025	74,992		14,228		89,220
Net book value
At 30 June 2025	0		2,010		2,010
At 30 June 2024	0		2,673		2,673

4. Fixed asset investments

Investments in subsidiaries

	2025
	£
Cost
At 01 July 2024	897,960
At 30 June 2025	897,960
Provisions for impairment
At 01 July 2024	897,599
At 30 June 2025	897,599
Carrying value at 30 June 2025	361
Carrying value at 30 June 2024	361

Investments in shares

The following was a subsidiary undertaking of the Company:

Name of entity	Registered office	Principal activity	Class of shares	Ownership 30.06.2025
Saladin Kenya Limited	Kenya	Provision of security services	Ordinary	90.00%

5. Debtors

	2025		2024
	£		£
Debtors: amounts falling due within one year
Trade debtors	446,502		9,151
Prepayments and accrued income	38,083		62,954
Deferred tax asset	6,451		6,789
Other debtors	677,410		49,681
	1,168,446		128,575
Debtors: amounts falling due after more than one year
Other debtors	0		623,557

6. Cash and cash equivalents

	2025		2024
	£		£
Cash at bank and in hand	269,513		538,246

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	16,971		58,121
Amounts owed to directors	1,636		41,961
Accruals	273,717		130,771
Corporation tax	58,578		82,811
Other taxation and social security	298,020		232,630
	648,922		546,294

8. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	6,789		7,283
Charged to the Profit and Loss Account	( 338)		( 494)
At the end of financial year	6,451		6,789

The deferred taxation balance is made up as follows:

	2025		2024
	£		£
Decelerated capital allowances	6,451		6,789

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
10,002 Ordinary shares of £ 1.00 each	10,002		10,002

10. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2025		2024
	£		£
within one year	11,400		10,600

11. Contingencies

Contingent liabilities

The company has provided a performance bond of £623,557 (2024: £623,557) in support of part of its trading operations. This performance bond remains at the same value at the balance sheet date. This amount has been included within debtors due within 1 year.

The company has no cause for the performance bond to be called upon by the customer and at the time of the approval of these financial statements has no reason to expect that any such claim will be made.

12. Related party transactions

At the balance sheet date the company owed loan sums to the shareholders of £1,636 (2024: £41,961).