Liberty Guard (UK) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04553341 (England and Wales)

Financial Statements for the Year Ended 30 June 2019

for

Liberty Guard (UK) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr Gordon Jones

Mr Alexander Gordon Jones

Mrs Emma Louise Jones Mackie

Mr Darren Wasilewski

SECRETARY:

Mr John Bamford

REGISTERED OFFICE:

The Old Airfield

Belton Road

Sandtoft

Doncaster

South Yorkshire

DN8 5SX

REGISTERED NUMBER:

04553341 (England and Wales)

AUDITORS:

Landin Wilcock & Co

Statutory Auditor

68 Queen Street

Sheffield

South Yorkshire

S1 1WR

BANKERS:

Handelsbanken

8th Floor

Fountain Precinct

Balm Green

Sheffield

South Yorkshire

S1 2JA

SOLICITORS:

Atteys

82 Cleveland Street

Doncaster

DN1 3DR

FIXED ASSETS

Tangible assets

4

10,973,087

9,425,573

CURRENT ASSETS

Debtors

5

1,827,829

1,857,010

Cash at bank

884,807

-

2,712,636

1,857,010

CREDITORS

Amounts falling due within one year

6

(6,320,895

)

(5,618,161

)

NET CURRENT LIABILITIES

(3,608,259

)

(3,761,151

)

TOTAL ASSETS LESS CURRENT LIABILITIES

7,364,828

5,664,422

CREDITORS

Amounts falling due after more than one year

7

(152,187

)

(92,092

)

PROVISIONS FOR LIABILITIES

(940,220

)

(811,071

)

NET ASSETS

6,272,421

4,761,259

CAPITAL AND RESERVES

Called up share capital

1

1

Revaluation reserve

9

2,399,332

1,999,838

Retained earnings

3,873,088

2,761,420

6,272,421

4,761,259

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 on 6 March 2020 and were signed on its behalf by:

Mr Gordon Jones - Director

1.	STATUTORY INFORMATION

Liberty Guard (UK) Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the

Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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.

Critical accounting judgements and key sources of estimation uncertainty

Judgements

The preparation of the financial statements requires management to make judgements,

estimates and assumptions that affect the amounts reported. These estimates and

judgements are continually reviewed and are based on experience and other factors,

including expectations of future events that are believed to be reasonable under the

circumstances.

Key sources of estimation uncertainty

Tangible fixed assets are the single largest balance on the company's balance sheet and the

method chosen to value the hire fleet assets has a material effect on the company's

reporting position and performance. The hire fleet is carried at fair value and assessed

annually by the directors opinion of its income generation and depreciated replacement

cost.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on cost and 10% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the

balance sheet. Those held under hire purchase contracts are depreciated over their

estimated useful lives. Those held under finance leases are depreciated over their estimated

useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period.

The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to

the company's pension scheme are charged to profit or loss in the period to which they

relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 47 (2018 - 47 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST OR VALUATION

At 1 July 2018

9,162,191

64,424

625,247

9,851,862

Additions

2,411,975

13,310

253,689

2,678,974

Disposals

(110,388

)

-

(19,590

)

(129,978

)

Revaluations

(874,229

)

-

-

(874,229

)

At 30 June 2019

10,589,549

77,734

859,346

11,526,629

DEPRECIATION

At 1 July 2018

65,263

51,799

309,227

426,289

Charge for year

1,146,223

6,837

114,842

1,267,902

Eliminated on disposal

-

-

(6,122

)

(6,122

)

Charge written back

(1,134,527

)

-

-

(1,134,527

)

At 30 June 2019

76,959

58,636

417,947

553,542

NET BOOK VALUE

At 30 June 2019

10,512,590

19,098

441,399

10,973,087

At 30 June 2018

9,096,928

12,625

316,020

9,425,573

Within the plant and machinery asset category is the hire fleet which has a net book value of

£10,470,893 (2018 - £9,067,175).

The fair value of the company's hire fleet was revalued on 30 June 2019. An independent

valuer was not involved. The hire fleet has been revalued at current fair value by the group

finance director on an individual basis by reference to his opinion of its income generation

and depreciated replacement cost.

Had the hire fleet class of asset been measured on a historical cost basis, the carrying

amount would have been £7,580,131 (2018 - £6,657,733).

Fixed assets, included in the above, which are held under hire purchase contracts are as

follows:

Motor

vehicles

£

COST

At 1 July 2018

393,039

Additions

253,689

At 30 June 2019

646,728

DEPRECIATION

At 1 July 2018

103,286

Charge for year

114,842

At 30 June 2019

218,128

NET BOOK VALUE

At 30 June 2019

428,600

At 30 June 2018

289,753

5.

DEBTORS

2019

2018

£

£

Amounts falling due within one year:

Trade debtors

1,725,493

1,737,529

Amounts owed by group undertakings

5,288

7,737

Other debtors

93,528

106,304

1,824,309

1,851,570

Amounts falling due after more than one year:

Other debtors

3,520

5,440

Aggregate amounts

1,827,829

1,857,010

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

-

226,928

Hire purchase contracts

117,053

91,485

Trade creditors

402,224

413,571

Amounts owed to group undertakings

5,322,065

4,161,374

Taxation and social security

399,504

644,762

Other creditors

80,049

80,041

6,320,895

5,618,161

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Hire purchase contracts

152,187

92,092

8.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank overdraft

-

226,928

Hire purchase contracts

269,240

183,577

269,240

410,505

The hire purchase liabilities are secured against the related assets.

The bank overdraft is secured by way of a legal charge over the trading property and there

is also an un-limited inter company composite guarantee by and between each member of

the group.

9.

RESERVES

Revaluation

reserve

£

At 1 July 2018

1,999,838

Other movements

399,494

At 30 June 2019

2,399,332

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

The Report of the Auditors was unqualified.

Robert G Hampstead (Senior Statutory Auditor)

for and on behalf of Landin Wilcock & Co

11.	OTHER FINANCIAL COMMITMENTS

Amounts not provided for in the balance sheet

The total amount of guarantees not included in the balance sheet is £2,168,137 (2018 -

£808,476). The company has provided an intercompany cross guarantee in respect of the

bank borrowings of Liberty Group Holdings Limited, Pasuda Buildings Limited, Pasuda Site

Services Limited, Twelco Limited and Pasuda (Hire) Limited.

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended

30 June 2019 and 30 June 2018:

2019

2018

£

£

Mr Alexander Gordon Jones

Balance outstanding at start of year

-

-

Amounts advanced

50,000

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

50,000

-

13.	RELATED PARTY DISCLOSURES

Summary of transactions with other related parties

Speakeasy Company Limited: a company in which the director has a material interest

During the year the company loaned amounts of £nil (2018 - £54,150) to Speakeasy

Company Limited.

At the balance sheet date the amount due from Speakeasy Company Limited was £16 (2018

- £54,150).

14.	ULTIMATE CONTROLLING PARTY

The company's immediate parent is Liberty Group Holdings Limited, incorporated in England

& Wales.

These financial statements are available upon request from The Old Airfield, Belton Road,

Sandtoft, Doncaster DN8 5SX.

The ultimate controlling party is Mr Gordon Jones and Mrs Susan Jones by virtue of their

shareholdings in the parent company.