Registered number:
FOR THE YEAR ENDED 31 OCTOBER 2021
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T.S.S. (TOTAL SECURITY SERVICES) LIMITED
COMPANY INFORMATION
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T.S.S. (TOTAL SECURITY SERVICES) LIMITED
CONTENTS
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T.S.S. (TOTAL SECURITY SERVICES) LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 OCTOBER 2021
T.S.S. (Total Security Services) Limited’s ("the company") principal activities continue to be that of the provision of a range of security, manpower and associated support services.
We continue with our commitment to work according to prudent principles for the long term benefit of shareholders, employees and clients alike. This allows us to invest further in the company's resources to underpin profitable growth based on sound planning. The company is continually expanding its client base and the number of new enquiries from prospective clients continues to increase.
The directors are satisfied with the performance of the company. Turnover has increased by 5% to £132,667,433 (2020 - £126,727,079) . As at 31 October 2021 the company had a current liquidity ratio of 1.46 (2020 - 1.25) . The company continues to ensure that it conforms to consistently high standards of service delivery. Further performance indicators can be found on the statement of comprehensive income. The company considers its key performance indicators to be its gross profit, operating profit, and net assets of which have all increased in the current year.
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T.S.S. (TOTAL SECURITY SERVICES) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2021
Regulatory and legislative risks
As a security provider, the company is registered and approved by the Security Industry Authority (SIA) under the Private Industry Act 2001. Multiple annual reviews are carried out by the NSI (National Security Inspectorate). The company regularly updates its policies and procedures to ensure compliance with required standards and changing legislation or regulation. In addition, the company has an obligation to meet Health and Safety requirements, which it does through internal policies and procedures and through using the services of external specialist advisers where necessary and accreditation to ISO18001. Financial risk management policy The company's financial instruments comprise cash, trade debtors and creditors, plus certain other debtors and creditors. The main risks associated with these financial assets and liabilities are set out below. Credit risk The company policy is aimed at minimising such risk, and collection of debts is actively managed to ensure that payments are received in a timely manner. The company's customers have a good payment history and therefore the directors believe the company's exposure to bad debts is not significant. Liquidity risk The company is funded by way of an invoice discounting facility and operational cash generation. The liquidity risk is managed through the company's finance function. The company generates operational cash surpluses and day to day cash flow is maintained by retaining surplus cash in readily accessible bank accounts. Working capital requirements are met through the readily available cash or through the banking facilities which the company does have recourse to. Market price risk The directors do not believe that, due to the nature of the company's principal activity, the company is exposed to significant movement in market prices of its services. Global pandemic The company did see a significant increase in trading as a result of the pandemic, and as a result was able to support its retail grocery clients and the initiative to feed the nation with its services that aiding in ensuring the compliance with government's guidelines was adhered to. The company had to remain prudent in managing its finances to ensure long term sustainability. As a result, the impact to the business for both a financial and employee perspective has been minimal. The added growth achieved from the additional work during the pandemic has been replaced with the growth of existing accounts, or the acquisition of new business. The company does not therefore expect a decline in trading performance into the future.
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T.S.S. (TOTAL SECURITY SERVICES) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2021
As the Directors of TSS (Total Security Services) Limited we have a legal responsibility under section 172 of the Companies Act 2006 to act in the way we consider, in good faith, would be most likely to promote the company’s success for the benefit of its members as a whole, and to have regard to the long-term effect of our decisions on the company and its stakeholders and in doing so must have regard to the following:
• the likely consequences of any decision in the long term; • the interests of the company’s employees; • the need to foster the company’s business relationships with suppliers, customers and others; • the impact of the company’s operations on the community and the environment; • the desirability of the company maintaining a reputation for high standards of business conduct; and • the need to act fairly as between members of the company.’ Our key stakeholders, and the ways in which we engage with them, are as follows, and are aligned with our core values of Teamwork, Innovation, Excellence, Respect, Integrity, and Potential: Employees TSS intends to attract the best staff and management available and be the first choice, not only for our customers, but also for those seeking employment in the security profession. We seek to continually improve and raise standards, further professionalising our industry and the role of the security officer. People are at the heart of everything we do. We will continue to invest in both the futures of our staff and the growth and prosperity of the company, embracing new technologies and smarter ways of working we will continue to maintain our position as the UK’s No.1 security provider. Customers and suppliers TSS recognises the current challenges and risks that our customers face when it comes to security. With our years of sector-based knowledge and experience, we can provide them with bespoke and associated security solutions. Our unique combination of manned guarding resources and technological solutions allows us to create the strongest value propositions for our customers. TSS remain committed to creating long-term partnerships with our clients through our intelligence-led and innovative approach. TSS, strive to build long standing, sustainable relationships with the suppliers to ensure mutual benefit, and always aim to be honest and transparent in line with the company culture, whilst ensuring we pay every supplier on time every time. Community and Environment In addition to financial and technical investments, we pride ourselves on investing in the wellbeing and development of our employees whilst giving back to the communities we work in and minimising our impact on the environment. Standards of Business Conduct The Gold Standard in Security. At TSS, we take the time to understand our clients’ business and security needs. Our 30-years of experience within the security industry allows us to recommend the best solutions and provide clients with a dedicated account manager to work with. We pride ourselves on the quality services we provide to valued partners who benefit from the wide range of services that we offer, all of which are supported by our dynamic data analytics, crime hub intelligence and innovative technological accomplishments.
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T.S.S. (TOTAL SECURITY SERVICES) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2021
A naturally diverse, well trained, reliable, motivated, and informed management team and workforce is essential to the successful provision of a first-class security manpower service to clients of the quality served by the company. All security staff are trained in accordance with required British Standards and receive the additional specialist training required to satisfy clients' needs. Suitable and interested employees share equal opportunities for further training and career development. It is company policy to promote from within the company where possible.
The business continues to consult with employees at all levels to ensure that their feedback in taken into account during decision making processes that are likely to affect their interests. Employees are informed on a regular basis of current activities, progress and general matters of interest by various methods, including monthly management and operating meetings, scheduled visits to the sites at which they are based and the circulation of the T.S.S. newsletter.
This report was approved by the board
and signed on its behalf.
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T.S.S. (TOTAL SECURITY SERVICES) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 OCTOBER 2021
The directors present their report and the financial statements for the year ended 31 October 2021.
The directors are responsible for preparing the strategic report, the directors' report and the
financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year
. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.
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 judgments and accounting estimates that are reasonable and prudent;
∙
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙
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.
The profit for the year, after taxation, amounted to £
2,944,455
(2020 -
£
2,103,079
)
.
The directors do not recommend payment of a final dividend.
The directors who served during the year were:
The directors' aim is to maintain the management policies which have resulted in the company's sustainability and growth in recent years.
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T.S.S. (TOTAL SECURITY SERVICES) LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2021
During the year the company conducted research and development in respect of the development of a new software application.
The emissions and energy consumption information disclosed were calculated using SECR methodology, as specified in "Environmental reporting guidelines: including Streamlined Energy and Carbon Reporting and greenhouse gas reporting" used in conjunction with Government GHG reporting conversion factors.
The corresponding figures in the prior year were 302 tonnes of CO2 equivalent, 57 tonnes of CO2 equivalent and 5,970,816 kWh.
Measures taken to increase energy efficiency during the period
We are committed to responsible energy management and will practise energy efficiency throughout our organisation wherever it is cost effective. We recognise that climate change is one of the most serious environmental challenges currently threatening the global community and we understand we have a role to play in reducing greenhouse gas emissions. We have implemented the policies below for the purpose of increasing the businesses energy efficiency in the relevant financial year. • Moved to remote home working due to Covid, and will review when the situation permits. • Implemented and encouraged use of video conferencing. • Travel reduced due to Covid.
The company's intensity ratio for the period was 14.95
(2020 - 19.5)
kg CO2 equivalent per square foot.
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T.S.S. (TOTAL SECURITY SERVICES) LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2021
Certain matters which are considered by the directors to have strategic importance have been shown in the strategic report rather than in the directors' report. These comprise the directors' review of the business, a summary of the principal risks and uncertainties applicable to the company, a statement concerning employee involvement, and the directors' statement of compliance with their duty to promote the success of the company.
There have been no significant events affecting the company since the year end.
The auditor, Barnes Roffe LLP, will be proposed for reappointment in accordance with
section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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T.S.S. (TOTAL SECURITY SERVICES) LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF T.S.S. (TOTAL SECURITY SERVICES) LIMITED
We have audited the financial statements of T.S.S. (Total Security Services) Limited (the 'company') for the year ended 31 October 2021, which comprise the statement of comprehensive income, the balance sheet, the statement of cash flows, the statement of changes in equity
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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T.S.S. (TOTAL SECURITY SERVICES) LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF T.S.S. (TOTAL SECURITY SERVICES) LIMITED (CONTINUED)
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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T.S.S. (TOTAL SECURITY SERVICES) LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF T.S.S. (TOTAL SECURITY SERVICES) LIMITED (CONTINUED)
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:
∙
the engagement partner 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 identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the relevant sector;
∙
we focused 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 and ISO standards;
∙
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
∙
identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
∙
making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
∙
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
We also assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias, and investigated the rationale behind significant or unusual transactions. The areas that we identified as being susceptible to misstatement through fraud were:
∙
Management bias in the estimates and judgements made; and
∙
Management override of controls.
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T.S.S. (TOTAL SECURITY SERVICES) LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF T.S.S. (TOTAL SECURITY SERVICES) LIMITED (CONTINUED)
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
Chartered Accountants
Statutory Auditor
Leytonstone House
Leytonstone
London
E11 1GA
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T.S.S. (TOTAL SECURITY SERVICES) LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 OCTOBER 2021
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T.S.S. (TOTAL SECURITY SERVICES) LIMITED
REGISTERED NUMBER:
02426982
BALANCE SHEET
AS AT
31 OCTOBER 2021
The financial statements were approved and authorised for issue by the board and were signed on its behalf by
:
The notes on pages 16 to 29 form part of these financial statements.
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T.S.S. (TOTAL SECURITY SERVICES) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED
31 OCTOBER 2021
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T.S.S. (TOTAL SECURITY SERVICES) LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 OCTOBER 2021
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T.S.S. (TOTAL SECURITY SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021
T.S.S. (Total Security Services) Limited ("the company") is a private company limited by shares, incorporated in England and Wales. Its registered office is The Curve, 18 Hickman Avenue, Highams Park, London E4 9JG. Its registration number is 02426982.
The principal activity of the company is that of the provision of a range of security, manpower and associated support services.
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 the Republic of Ireland 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 judgment in applying the company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The financial statements have been prepared on a going concern basis.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
−
the amount of revenue can be measured reliably;
−
it is probable that the company will receive the consideration due; and
−
the costs incurred or to be incurred in respect of the contract can be measured reliably.
The company provides a range of security, manpower and associated support services to its customers. Revenue from these services is recognised in accordance with the hours worked.
Any differences between the amounts invoiced to customers and the amounts to be recognised in accordance with the hours worked are treated as accrued income and included within debtors falling due within one year in the financial statements.
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T.S.S. (TOTAL SECURITY SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021
2.
Accounting policies (continued)
Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method or using the reducing balance basis, as applicable.
Depreciation is provided on the following annual bases:
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.
Short term debtors are measured at transaction price, less any impairment. Short term creditors are measured at the transaction price.
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T.S.S. (TOTAL SECURITY SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021
2.
Accounting policies (continued)
Functional and presentation currency
Transactions and balances
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T.S.S. (TOTAL SECURITY SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021
2.
Accounting policies (continued)
Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the balance sheet.
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T.S.S. (TOTAL SECURITY SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021
2.
Accounting policies (continued)
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only. a) Significant judgments in applying the company's accounting policies The company does not consider there to be any significant judgments in applying accounting policies. b) Critical accounting estimates and assumptions The company considers the following critical accounting estimates and assumptions to exist: Contract deductions The company recognises liabilities in respect of certain payroll deductions. These liabilities may sometimes remain outstanding when employees leave the company. Based on the length of time since the individuals in question have left the company, management estimate whether or not certain of these amounts remain payable. However, no such outstanding amounts were estimated to be no longer payable, and hence written off, during the current or prior years. Provisions The company has estimated the level of provision required in respect of additional payroll liabilities, as described in Note 20, below, based on management's experience and the amounts paid during the year and subsequent to the year end.
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T.S.S. (TOTAL SECURITY SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021
Analysis of turnover by country of destination:
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T.S.S. (TOTAL SECURITY SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021
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T.S.S. (TOTAL SECURITY SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021
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T.S.S. (TOTAL SECURITY SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021
13.
Taxation (continued)
There were no factors that may affect future tax charges.
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T.S.S. (TOTAL SECURITY SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021
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T.S.S. (TOTAL SECURITY SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021
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T.S.S. (TOTAL SECURITY SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021
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T.S.S. (TOTAL SECURITY SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021
Capital redemption reserve
Profit and loss account
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T.S.S. (TOTAL SECURITY SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021
During the prior year, advances subsisted to a director, R L Gardezi, as follows. Interest has been charged at the standard H M Revenue & Customs beneficial loans rate.
As at the year end, the company is controlled by R L Gardezi and V Gardezi.
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