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Company No: 06648384 (England and Wales)

# KEYPLUS SECURITY LTD

### ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 APRIL 2025
PAGES FOR FILING WITH THE REGISTRAR

KEYPLUS SECURITY LTD

## ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2025

Contents

KEYPLUS SECURITY LTD

## COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2025
KEYPLUS SECURITY LTD

## COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2025

DIRECTORS | Mrs A M Curran
| Mr B Curran

REGISTERED OFFICE | Group First House 12a Mead Way
| Padiham
| Burnley
| BB12 7NG
| United Kingdom

COMPANY NUMBER | 06648384 (England and Wales)

CHARTERED ACCOUNTANTS | PM+M Solutions for Business LLP
| New Century House
| Greenbank Technology Park
| Challenge Way
| Blackburn
| BB1 5QB

KEYPLUS SECURITY LTD

## DIRECTORS' REPORT

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2025
KEYPLUS SECURITY LTD

## DIRECTORS' REPORT (continued)

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2025

The directors present their annual report and the unaudited financial statements of the Company for the financial year ended 30 April 2025.

PRINCIPAL ACTIVITIES

The principal activity of the company continued to be that of investigation and security activities.

GOING CONCERN

The directors have prepared the financial statements on the going concern basis. Further details are provided in the notes to the financial statements.

NOTE FROM THE DIRECTORS

The year has been one of strong progress and controlled expansion for the company. Turnover grew by 70 percent, driven by continued demand for our mobile response services and exceptional growth within the Systems division, which doubled in size during the year. We also secured multiple large orders in the aerospace sector, strengthening our position in a market that values reliability and technical expertise.
Operationally, the company continued to improve its capability and resilience. To meet rising demand, we expanded our engineering team and launched an apprenticeship scheme to grow future talent. Our fleet increased by 30 percent and half of the existing vehicles were renewed, ensuring we maintain a modern and dependable operation in line with customer expectations.
The company also made significant advances in its use of proprietary AI tools. These investments are now firmly embedded across operations and service delivery, helping us streamline workflows, improve response times and support our team as we scale. AI continues to play an important role in overcoming the economic and bureaucratic challenges affecting the wider market.
Although the manned guarding sector remains pressured by low-cost operators undercutting professional providers, KeyPlus has not been drawn into a race to the bottom. Our focus on quality, integrity and dependable service has ensured we remain the preferred choice for organisations that value continuity and trust. We are proud of our loyal workforce, low staff churn and the strong sense of teamwork that clients regularly comment on.
Recruitment has been the main bottleneck during our rapid growth, yet the team responded extremely well and maintained service standards throughout. Reinvestment in fleet, systems and people has reduced margins slightly, but profits rose in line with sales, leaving the business in a strong financial position at year end.
Looking forward, we are building on the success of our first acquisition and continue to develop the Systems division both organically and through further opportunities that will be integrated into the business. AI remains central to our strategy, and we will keep investing in tools that improve performance and efficiency. We also plan to upskill our team ahead of new software that is set to transform the systems industry. Continued investment in technology and our fleet will support this next stage of growth.
The directors consider the company well placed to build on this year’s achievements and remain confident in its future.

DIRECTORS

The directors, who served during the financial year and to the date of this report except as noted, were as follows:

Mrs A M Curran |
Mr B Curran |

SMALL COMPANIES EXEMPTION

This Directors' Report has been prepared in accordance with the provisions applicable to companies entitled to the small companies' exemption provided by section 415A of the Companies Act 2006.

Approved by the Board of Directors and signed on its behalf by:

Mr B Curran Director |

20 January 2026

KEYPLUS SECURITY LTD

## BALANCE SHEET

AS AT 30 APRIL 2025
KEYPLUS SECURITY LTD

## BALANCE SHEET (continued)

AS AT 30 APRIL 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 4 | 154,677 |  | 96,947
|  | 154,677 |  | 96,947
Current assets |  |  |  |
Debtors | 5 | 538,088 |  | 285,580
Cash at bank and in hand |  | 123,139 |  | 48,012
|  | 661,227 |  | 333,592
Creditors: amounts falling due within one year | 6 | ( 680,425) |  | ( 348,587)
Net current liabilities |  | (19,198) |  | (14,995)
Total assets less current liabilities |  | 135,479 |  | 81,952
Creditors: amounts falling due after more than one year | 7 | ( 86,557) |  | ( 58,594)
Net assets |  | 48,922 |  | 23,358
Capital and reserves |  |  |  |
Called-up share capital |  | 1,000 |  | 1,000
Profit and loss account |  | 47,922 |  | 22,358
Total shareholders' funds |  | 48,922 |  | 23,358

For the financial year ending 30 April 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 Income and Retained Earnings has not been delivered.

The financial statements of KeyPlus Security Ltd (registered number: 06648384) were approved and authorised for issue by the Board of Directors on 20 January 2026. They were signed on its behalf by:

Mr B Curran Director |

KEYPLUS SECURITY LTD

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2025
KEYPLUS SECURITY LTD

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2025

##### 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

KeyPlus Security Ltd (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 Group First House 12a Mead Way, Padiham, Burnley, BB12 7NG, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, 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 £.

##### Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings 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, other than investment property and freehold land, 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:

Plant and machinery | 25 % reducing balance
Vehicles | 20 % reducing balance
Office equipment | 15 % reducing balance
Computer equipment | 25 % reducing balance

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
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
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. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Impairment of assets

Assets, other than those measured at fair value, 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 Income and Retained Earnings as described below.

##### 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.

##### 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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

#### 2. Critical accounting 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.

#### 3. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 18 |  | 16

#### 4. Tangible assets

| Plant and machinery |  | Vehicles |  | Office equipment |  | Computer equipment |  | Total
| £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |
At 01 May 2024 | 1,595 |  | 100,058 |  | 11,515 |  | 8,265 |  | 121,433
Additions | 0 |  | 97,790 |  | 0 |  | 7,325 |  | 105,115
Disposals | ( 1,595) |  | ( 36,990) |  | ( 1,249) |  | ( 2,083) |  | ( 41,917)
At 30 April 2025 | 0 |  | 160,858 |  | 10,266 |  | 13,507 |  | 184,631
Accumulated depreciation |  |  |  |  |  |  |  |  |
At 01 May 2024 | 1,062 |  | 11,918 |  | 5,985 |  | 5,521 |  | 24,486
Charge for the financial year | 133 |  | 21,504 |  | 830 |  | 1,718 |  | 24,185
Disposals | ( 1,195) |  | ( 14,963) |  | ( 959) |  | ( 1,600) |  | ( 18,717)
At 30 April 2025 | 0 |  | 18,459 |  | 5,856 |  | 5,639 |  | 29,954
Net book value |  |  |  |  |  |  |  |  |
At 30 April 2025 | 0 |  | 142,399 |  | 4,410 |  | 7,868 |  | 154,677
At 30 April 2024 | 533 |  | 88,140 |  | 5,530 |  | 2,744 |  | 96,947

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 515,071 |  | 280,167
Other debtors | 23,017 |  | 5,413
| 538,088 |  | 285,580

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 10,488 |  | 10,000
Trade creditors | 227,243 |  | 43,131
Corporation tax | 52,245 |  | 19,875
Other taxation and social security | 99,280 |  | 81,807
Obligations under finance leases and hire purchase contracts | 35,528 |  | 13,114
Other creditors | 255,641 |  | 180,660
| 680,425 |  | 348,587

Obligations under hire purchase contracts amounting to £35,528 are secured on the assets to which they relate.

#### 7. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 7,849 |  | 18,333
Obligations under finance leases and hire purchase contracts | 78,708 |  | 40,261
| 86,557 |  | 58,594

Obligations under hire purchase contracts amounting to £78,708 are secured on the assets to which they relate.

#### 8. Financial commitments

Other financial commitments

| 2025 |  | 2024
| £ |  | £
Total future minimum lease payments under non-cancellable operating lease | 15,000 |  | 9,000