Company Information
Contents
Directors' report
For the year ended 31 December 2024
The directors present their report and the financial statements of Mercury Security & Facilities Management Limited ('the company') for the year ended 31 December 2024.
The profit for the year, after taxation, amounted to £274,939 (2023 - £167,731).
The directors who served during the year were:
The directors are responsible for preparing the Directors' report, the Strategic report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements , the directors are required to:
∙select suitable accounting policies for the company's financial statements 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.
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 to 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.
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Directors' report (continued)
For the year ended 31 December 2024
The company places considerable value on the involvement of its employees and keeps them informed on matters affecting them through various formal and informal meetings. The board implemented a monthly Staff Awareness Meeting (“SAM”) whereby directors and heads of department summarise and present the main activities of their departments for the previous month. These SAMs are widely attended by managers who then communicate the relevant parts to their staff. The key elements of each SAM are gathered in a report that is shared with managers within a week of the meeting. The board continues to support the maintenance of an employee mental health and wellbeing assistance programme. This programme has been available to employees and their families since 2020 and has been a welcome means of external, independent support to employees facing challenges from emerging from pandemic and more recent cost of living pressures.
The company has chosen in accordance with s.414C(11) Companies Act 2006 to set out in the company's Strategic report
information required by Schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports)
Regulations 2008 to be contained in the Directors' report. It has done so in respect of financial risk management and
future developments.
information required by Schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports)
Regulations 2008 to be contained in the Directors' report. It has done so in respect of financial risk management and
future developments.
This report was approved by the board on 26 September 2025 and signed on its behalf by:
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Strategic report
For the year ended 31 December 2024
The company is a provider of security and facilities management services to a wide client base in Northern Ireland,
Republic of Ireland and Great Britain. The company operates its own NSI-Gold-rated Alarm Receiving Centre providing the highest quality of alarm and CCTV monitoring services and is also a leading installer of intruder and fire alarms as well as quality CCTV systems.
Republic of Ireland and Great Britain. The company operates its own NSI-Gold-rated Alarm Receiving Centre providing the highest quality of alarm and CCTV monitoring services and is also a leading installer of intruder and fire alarms as well as quality CCTV systems.
Throughout the year, the company has continued to perform in line with the expectations of the business. In turn, this has continued to support the further expansion of the technology divisions. The directors expect to see consistent growth and profitability in these divisions in the future.
There continues to be a focus from management level down throughout the organisation on the importance of improving the cost efficiency of the business and increase of margin across all departments. This has seen us strengthen our reporting with departmental managers reporting KPIs throughout the year and incremental gains month on month from both a performance and reporting perspective.
A profit of £274,939 (2023: £167,731) was made in the year with EBITDA before management charges and deferred tax adjustments of £612,906 (2023: £526,898). 2024 was a year of improving performance on 2023. Following the end of the financial year, we have seen a steady increase in turnover throughout 2025 across a variety of sectors and clients.
There continues to be a focus from management level down throughout the organisation on the importance of improving the cost efficiency of the business and increase of margin across all departments. This has seen us strengthen our reporting with departmental managers reporting KPIs throughout the year and incremental gains month on month from both a performance and reporting perspective.
A profit of £274,939 (2023: £167,731) was made in the year with EBITDA before management charges and deferred tax adjustments of £612,906 (2023: £526,898). 2024 was a year of improving performance on 2023. Following the end of the financial year, we have seen a steady increase in turnover throughout 2025 across a variety of sectors and clients.
The directors have identified the following areas of risk and uncertainty:
Business performance risk
The business environment in which we operate continues to be challenging with the key commercial risks being market conditions, availability of labour and customer credit risk.
Financial risk management
The company’s operations expose it to a variety of risks that includes materials price fluctuations, interest rate risk, credit risk, liquidity risk and market price risk. The directors review and agree policies for managing these risks and are detailed below.
The company uses various financial instruments including investments and cash and various items such as trade debtors, trade creditors and amounts owed to related undertakings that arise directly from it’s operations. The main purpose of these financial instruments is to raise finance and maintain liquidity for the company’s operations.
The existence of these financial instruments exposes the company to a number of financial risks .The directors review and agree policies for managing these risks, which are detailed below:
Business performance risk
The business environment in which we operate continues to be challenging with the key commercial risks being market conditions, availability of labour and customer credit risk.
Financial risk management
The company’s operations expose it to a variety of risks that includes materials price fluctuations, interest rate risk, credit risk, liquidity risk and market price risk. The directors review and agree policies for managing these risks and are detailed below.
The company uses various financial instruments including investments and cash and various items such as trade debtors, trade creditors and amounts owed to related undertakings that arise directly from it’s operations. The main purpose of these financial instruments is to raise finance and maintain liquidity for the company’s operations.
The existence of these financial instruments exposes the company to a number of financial risks .The directors review and agree policies for managing these risks, which are detailed below:
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Strategic report (continued)
For the year ended 31 December 2024
Principal risks and uncertainties (continued)
Liquidity risk
The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs. The company policy throughout the year has been to ensure continuity of funding by matching the source of funds to the intended use of those funds. Short term flexibility is achieve through the company’s cash reserves and banking facilities.
Interest rate risk
The company finances its operations through a mixture of retained profits, bank loan and invoice financing. Interest rate risk is managed through planning expenditure within the confines of the company’s banking facilities.
Credit risk
The company’s principal financial assets are cash and amounts recoverable on contracts, whether included in trade debtors or accrued income. The credit risk associated with cash is limited. The principal credit risk therefore arises from contract balances. To manage the credit risk the directors assess potential customers as part of the tender process, based on a mixture of past history, credit references and industry knowledge. Payment behaviour of clients is monitored on an ongoing basis after commencement of contracts. The company has a credit control function to assess credit risk, accelerate settlement of trade debtors and take recovery action when necessary. Credit risk is assessed on a monthly basis with all business departments.
Foreign exchange risk
A proportion of the company’s revenue and expenses were denominated in Euro during the year which exposes the company to foreign exchange risk. The risk is managed by using a Euro bank account for said transactions.
Liquidity risk
The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs. The company policy throughout the year has been to ensure continuity of funding by matching the source of funds to the intended use of those funds. Short term flexibility is achieve through the company’s cash reserves and banking facilities.
Interest rate risk
The company finances its operations through a mixture of retained profits, bank loan and invoice financing. Interest rate risk is managed through planning expenditure within the confines of the company’s banking facilities.
Credit risk
The company’s principal financial assets are cash and amounts recoverable on contracts, whether included in trade debtors or accrued income. The credit risk associated with cash is limited. The principal credit risk therefore arises from contract balances. To manage the credit risk the directors assess potential customers as part of the tender process, based on a mixture of past history, credit references and industry knowledge. Payment behaviour of clients is monitored on an ongoing basis after commencement of contracts. The company has a credit control function to assess credit risk, accelerate settlement of trade debtors and take recovery action when necessary. Credit risk is assessed on a monthly basis with all business departments.
Foreign exchange risk
A proportion of the company’s revenue and expenses were denominated in Euro during the year which exposes the company to foreign exchange risk. The risk is managed by using a Euro bank account for said transactions.
We consider that our key financial performance indicators are those that communicate the financial performance and strength of the company, those being turnover, gross profit margin, contribution and net profit.
We have internal KPIs in relation to individual contracts and we are also in the process of expanding a new departmental set of KPIs that will assist us in assessing the performance from a commercial and service delivery view point.
This report was approved by the board on 26 September 2025 and signed on its behalf by:
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Independent auditor's report to the members of Mercury Security & Facilities Management Limited
For the year ended 31 December 2024
We have audited the financial statements of Mercury Security & Facilities Management Limited ('the company') for the year ended 31 December 2024, which comprise the Statement of income and retained earnings, the Statement of financial position, the Statement of cash flows and the related notes, 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).
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 United Kingdom, including the Financial Reporting Council'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.
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.
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Independent auditor's report to the members of Mercury Security & Facilities Management Limited (continued)
For the year ended 31 December 2024
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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
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.
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Independent auditor's report to the members of Mercury Security & Facilities Management Limited (continued)
For the year ended 31 December 2024
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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, 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:
How the audit was considered capable of detecting irregularities including fraud
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud
and non-compliance with laws and regulations, was as follows:
∙the Senior Statutory Auditor ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
∙we made enquiries of management as to where they considered there was susceptibility to fraud, and their knowledge of actual, suspected and alleged fraud;
∙we identified the laws and regulations that could reasonably be expected to have a material effect on the financial statements of the company through discussions at the planning stage
∙the audit team held a discussion to identify any particular areas that were considered to be susceptible to misstatement, including with respect to fraud and non-compliance with laws and regulations; and
∙we focused our planned audit work on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company including the Companies Act 2006, employment legislation and taxation legislation.
We assessed the extent of compliance with the laws and regulations identified above through:
∙making enquiries of management;
∙inspecting legal expenditure and correspondence throughout the year for any potential litigation or claims; and
∙considering the internal controls in place that are designed to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
∙determined the susceptibility of the company to management override of controls by checking the implementation of controls and enquiring of individuals involved in the financial reporting process;
∙reviewed journal entries at the year end to identify unusual transactions, particularly in relation to expenditure;
∙performed analytical procedures to identify any large, unusual or unexpected transactions;
∙reviewed accounting estimates and evaluated where judgements or decisions made by management indicated bias on the part of the company’s management;
∙tested the completeness of turnover through obtaining information from outside the accounting system and substantively tested this information to ensure the turnover is accurately included in the financial statements. Any material variances to expectations were investigated; and
∙carried out substantive testing to check the occurrence and cut-off of expenditure.
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Independent auditor's report to the members of Mercury Security & Facilities Management Limited (continued)
For the year ended 31 December 2024
Auditor's responsibilities for the audit of the financial statements (continued)
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which
included:
∙agreeing financial statement disclosures to underlying supporting documentation; and
∙enquiring of management as to actual and potential litigation and claims.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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 Auditor's report.
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Statutory Auditor
130 Wood Street
London
EC2V 6DL
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Statement of income and retained earnings
For the year ended 31 December 2024
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Statement of financial position
As at 31 December 2024
The financial statements were approved and authorised for issue by the board on 26 September 2025 and were signed on its behalf by:
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Statement of cash flows
For the year ended 31 December 2024
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Notes to the financial statements
For the year ended 31 December 2024
Mercury Security & Facilities Management Limited is a private company limited by shares and incorporated in Northern Ireland. Its registered office and principal place of business is Mercury House, 7 Portman Business Park, Lisburn Co. Antrim, BT28 2XF and its registered number is NI054346.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies (see note 3).
The following principal accounting policies have been applied:
Functional and presentation currency
Transactions and balances
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Notes to the financial statements
For the year ended 31 December 2024
2.Accounting policies (continued)
Lease payments are apportioned between finance charges and reduction of outstanding lease liabilities using the effective interest method, so as to produce a constant rate of interest on the remaining balance of the liabilities. Finance charges are recognised in profit or loss.
Assets held under finance leases are included in property, plant and equipment and are depreciated and reviewed for impairment in the same way as assets owned outright.
Payments received under operating leases are recognised as income over the lease term on a straight-line basis.
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Notes to the financial statements
For the year ended 31 December 2024
2.Accounting policies (continued)
Contributions to defined contribution plans are expensed in the period to which they relate. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit or loss account.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
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Notes to the financial statements
For the year ended 31 December 2024
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using both the straight-line and reducing balance method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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Notes to the financial statements
For the year ended 31 December 2024
2.Accounting policies (continued)
Short-term employee benefits are recognised as an expense in the period in which they are incurred.
Post-employment defined contribution plans
Amounts in respect of defined contributions plans are recognised as an expense as they are incurred.
Termination benefits
Provisions for termination benefits are recognised only when the company is demonstrably committed to terminate the employment of an employee or of a group of employees before their normal retirement date or to provide termination benefits as a result of an offer made in order to encourage voluntary redundancy
Post-employment defined contribution plans
Amounts in respect of defined contributions plans are recognised as an expense as they are incurred.
Termination benefits
Provisions for termination benefits are recognised only when the company is demonstrably committed to terminate the employment of an employee or of a group of employees before their normal retirement date or to provide termination benefits as a result of an offer made in order to encourage voluntary redundancy
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from other third parties and loans to related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
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Notes to the financial statements
For the year ended 31 December 2024
The whole of the turnover is attributable to company's principal activity.
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Notes to the financial statements
For the year ended 31 December 2024
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Notes to the financial statements
For the year ended 31 December 2024
The deferred taxes at the reporting date reflected in these financial statements have been measured at 25% being the tax rate that was substantively enacted at 31 December 2024. At 31 December 2024, the company had a deferred tax asset of £154,061 (2023: £259,087) relating to losses and short term timing differences and a deferred tax liability of £42,309 (2023: £46,301) relating to fixed asset timing differences. The total deferred tax asset is £111,752 (2023: £212,786) recognised in debtors.
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Notes to the financial statements
For the year ended 31 December 2024
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Notes to the financial statements
For the year ended 31 December 2024
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Notes to the financial statements
For the year ended 31 December 2024
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Notes to the financial statements
For the year ended 31 December 2024
At 31 December 2024, 500,000 (2023 - 500,000) of the redeemable preference shares remained unpaid.
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Notes to the financial statements
For the year ended 31 December 2024
Profit and loss account
Other than the charges disclosed in notes 15 and 16, the company had no contingent liabilities at 31 December 2024 or 31 December 2023.
The company had no capital commitments at 31 December 2024 or 31 December 2023.
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £188,716 (2023 - £186,515). Contributions totalling £46,330 (2023 - £46,277) were payable to the fund at the reporting date and are included in accruals.
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Notes to the financial statements
For the year ended 31 December 2024
In opinion of the directors, the ultimate controlling party is Paul McGowan.
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