REGISTERED NUMBER: SC201997 (Scotland)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

CORPS MONITORING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R P Craggs

L M Bullock

A Strong

SECRETARY:

L Thomas

REGISTERED OFFICE:

8 Marchburn Drive

Glasgow Airport

Paisley

PA3 2SJ

REGISTERED NUMBER:

SC201997 (Scotland)

AUDITORS:

Moore Kingston Smith LLP

Statutory Auditor

6th Floor

9 Appold Street

London

EC2A 2AP

BANKERS:

Leumi UK Group Ltd

126 Dyke Road

Brighton

West Sussex

BN1 3TE

FIXED ASSETS

Intangible assets

4

6,007

490

Tangible assets

5

1,721,644

1,443,766

1,727,651

1,444,256

CURRENT ASSETS

Debtors

6

3,812,130

3,103,088

CREDITORS

Amounts falling due within one year

7

3,696,941

3,014,580

NET CURRENT ASSETS

115,189

88,508

TOTAL ASSETS LESS CURRENT LIABILITIES

1,842,840

1,532,764

PROVISIONS FOR LIABILITIES

8

32,972

22,918

NET ASSETS

1,809,868

1,509,846

CAPITAL AND RESERVES

Called up share capital

9

700,000

700,000

Revaluation reserve

10

734,337

460,770

Retained earnings

10

375,531

349,076

SHAREHOLDERS' FUNDS

1,809,868

1,509,846

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 July 2026 and were signed on its behalf by:

R P Craggs - Director

1.	STATUTORY INFORMATION

Corps Monitoring Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements are prepared in pound sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound sterling unless otherwise stated.

Going concern

After making enquiries and assessing the forecasts prepared at the Company and Group level, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and to meet its obligations as they fall due for a period of at least 12 months after the signing of the accounts. The company has received a letter of support from Corps of Commissionaires Management Limited, its ultimate parent entity, stating that it will be provided with such support as may be needed to achieve this. Accordingly, the directors continue to adopt the going concern basis in preparing these financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents remote CCTV monitoring, alarm receiving, environmental monitoring, call centre management and lone worker monitoring services. Turnover is measured by the monitoring coverage and service provided over a period of time. Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and turnover can be reliably measured.

Turnover is measured 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.

Intangible fixed assets other than goodwill

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 20-33% straight line

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.

Depreciation 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:

- Freehold Land and buildings Nil for land, 2% for buildings

- Fixtures, fittings & equipment 10-33% straight line

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.

Revaluation movements are recognised in equity.

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.

Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment annually, and whenever there is an indication that the asset may be impaired.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Financial instruments

Financial assets, other than investments and derivatives, are initially measured at transaction price (including transaction costs) and subsequently held at amortised cost, less any impairment. Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than the financial instrument's legal form. Financial liabilities are initially measured at transaction price (after deducting transaction costs) and subsequently held at amortised cost. The company has no other financial instruments or basic financial instruments measured at fair value.

The Invoice Discount Facility is classified as a liability due in less than one year. Trade debtors approved by the facility provider are added to the available balance from which the company can draw down. The trade debtors are not de-recognised until the cash receipt is available to be remitted to the facility provider, as the company remains responsible for collecting the amounts and bears the credit risk.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Pension costs

Certain employees of the Company are members of the defined benefit pension scheme operated by Corps of Commissionaires Management Limited. Contributions to the scheme are charged to the profit and loss account so as to reflect the accounting as if the defined benefit scheme were a defined contribution scheme and the pension cost is equal to the contributions payable for the period.

For the defined contribution scheme the amount charged to the profit and loss account in respect of pension costs is the contributions payable in the year.

Equity instruments

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

Valuation of investment property (key estimate)

The valuation of the company's Remote Monitoring Centre's freehold premises is based on the depreciated replacement cost method given the specialised nature of the property. With regard to redevelopments and refurbishments, future development costs and an appropriate discount rate are used.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2025 - 21 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2025

68,817

Additions

5,894

At 31 March 2026

74,711

AMORTISATION

At 1 April 2025

68,327

Charge for year

377

At 31 March 2026

68,704

NET BOOK VALUE

At 31 March 2026

6,007

At 31 March 2025

490

5.	TANGIBLE FIXED ASSETS

Fixtures,

Freehold

fittings

land and

and

buildings

equipment

Totals

£

£

£

COST OR VALUATION

At 1 April 2025

1,335,358

424,492

1,759,850

Additions

-

64,816

64,816

Revaluations

255,000

-

255,000

At 31 March 2026

1,590,358

489,308

2,079,666

DEPRECIATION

At 1 April 2025

22,865

293,219

316,084

Charge for year

19,981

40,524

60,505

Revaluation adjustments

(18,567

)

-

(18,567

)

At 31 March 2026

24,279

333,743

358,022

NET BOOK VALUE

At 31 March 2026

1,566,079

155,565

1,721,644

At 31 March 2025

1,312,493

131,273

1,443,766

The company's Remote Monitoring Centre's freehold premises were valued by an external valuer, Lambert Smith Hampton, a regulated firm of Chartered Surveyors, at 30 September 2025. The valuation was prepared in accordance with the requirements of the RICS Valuation Standards 2014 and UK GAAP. The valuation of this asset was on the basis of Existing Use Value assuming that the property would be sold with vacant possession, determined using the Depreciated Replacement Cost method given the specialised nature of the property. The directors consider the replacement cost of the property to be £1.6m at 31 March 2026.

If revalued assets were stated on an historical cost basis rather than a fair value basis, the total amounts included would have been as follows:

2026

2025

£

£

Cost

1,217,000

1,217,000

Accumulated depreciation

(470,043

)

(447,623

)

746,957

769,377

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

458,945

528,558

Amounts owed by group undertakings

3,276,469

2,467,996

Other debtors

76,716

106,534

3,812,130

3,103,088

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Invoice Discount Facility

136,000

-

Amounts owed to group undertakings

2,877,018

2,432,686

Taxation and social security

183,495

161,505

Other creditors

500,428

420,389

3,696,941

3,014,580

The intercompany balances are interest free and repayable on demand.

The interest rate charged on the Invoice Discount Facility during the year was 2.10% over the daily Sterling Overnight Index Average (SONIA). The liability matures at the earlier of when a customer receipt is received and funds received into the facility or 120 days.

In April 2024, the Company agreed a three year extension to its Invoice Discounting arrangement with Leumi UK Group Limited to run to a minimum period to September 2027.

8.	PROVISIONS FOR LIABILITIES

2026

2025

£

£

Deferred tax

Accelerated capital allowances

32,972

22,918

Deferred

tax

£

Balance at 1 April 2025

22,918

Provided during year

10,054

Balance at 31 March 2026

32,972

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

700,000

Ordinary

£1

700,000

700,000

Called up share capital reserve represents the nominal value of the shares issued.

10.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 April 2025

349,076

460,770

809,846

Profit for the year

26,455

26,455

Revaluation movement

-

273,567

273,567

At 31 March 2026

375,531

734,337

1,109,868

The company's reserves are as follows:

- Retained earnings represent cumulative profits or losses, net of dividends paid and other adjustments.

- Revaluation reserve comprises the gain arising from the increase in the value of the freehold property.

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

William McMullan BA FCA (Senior Statutory Auditor)

for and on behalf of Moore Kingston Smith LLP

12.	CONTINGENT LIABILITIES

There is a fixed and floating charge over the company's assets in favour of Leumi UK Group Limited, the company's bankers.

13.	ULTIMATE CONTROLLING PARTY

The company is a 100% subsidiary of Corps of Commissionaires Management Limited, a company

registered in England and Wales.

Consolidated accounts for the parent undertaking, Corps of Commissionaires Management Limited and its subsidiaries are publicly available from Companies House, Crown Way, Cardiff, CF14 3UZ.