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REGISTERED NUMBER: 10155562 (England and Wales)















PROFESSIONAL SURVEILLANCE MANAGEMENT
(PSM) LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023






PROFESSIONAL SURVEILLANCE MANAGEMENT
(PSM) LIMITED (REGISTERED NUMBER: 10155562)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PROFESSIONAL SURVEILLANCE MANAGEMENT
(PSM) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTORS: K L Jones
A J Knox





REGISTERED OFFICE: Arch 11
Milk Street
Wigan
Lancashire
WN3 4HU





REGISTERED NUMBER: 10155562 (England and Wales)





ACCOUNTANTS: DTE Business Advisers Limited
Chartered Accountants
The Exchange
5 Bank Street
Bury
BL9 0DN

PROFESSIONAL SURVEILLANCE MANAGEMENT
(PSM) LIMITED (REGISTERED NUMBER: 10155562)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2023

2023 2022
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 34,539 25,373

CURRENT ASSETS
Debtors 5 650,555 431,083
Cash at bank and in hand 16,972 113,895
667,527 544,978
CREDITORS
Amounts falling due within one year 6 (331,882 ) (270,544 )
NET CURRENT ASSETS 335,645 274,434
TOTAL ASSETS LESS CURRENT
LIABILITIES

370,184

299,807

PROVISIONS FOR LIABILITIES (2,974 ) (2,149 )
NET ASSETS 367,210 297,658

CAPITAL AND RESERVES
Called up share capital 300 300
Share premium 49,910 49,910
Retained earnings 317,000 247,448
367,210 297,658

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PROFESSIONAL SURVEILLANCE MANAGEMENT
(PSM) LIMITED (REGISTERED NUMBER: 10155562)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 2023


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 16 November 2023 and were signed on its behalf by:





K L Jones - Director


PROFESSIONAL SURVEILLANCE MANAGEMENT
(PSM) LIMITED (REGISTERED NUMBER: 10155562)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023


1. STATUTORY INFORMATION

Professional Surveillance Management (PSM) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 10155562 and registered office address is Arch 11 Milk Street, Wigan, Lancashire, England, WN3 4HU.

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.

The company has reported a pre tax profit for the year, and the directors believe that the company will continue to trade profitably in the coming year. Therefore, the going concern basis is deemed to be appropriate. No adjustments have been made to the accounts should this view not be applicable.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates.

The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

Estimating the useful economic life of an asset and the anticipated residual value are considered key judgement in calculating an appropriate depreciation charge.

In categorising leases as finance or operating leases, the directors make judgements as to whether significant risks and rewards of ownership have transferred to the company as lessee.

Revenue
Revenue comprises amounts invoiced net of all discounts and value added tax in respect of the management and monitoring of CCTV surveillance cameras. The company charge an agreed monthly amount for services provided, any amounts that are invoiced in advance are deferred and matched with the costs associated with providing those services.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 15% on cost

The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.

PROFESSIONAL SURVEILLANCE MANAGEMENT
(PSM) LIMITED (REGISTERED NUMBER: 10155562)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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 the income statement in the period to which they relate.

Leasing commitments
Rentals paid under operating leases are charged to the income statement on a straight-line basis over the period of the lease.

Cash and cash equivalents
Cash and cash equivalents include cash in hand and deposits held with banks.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 19 ) .

PROFESSIONAL SURVEILLANCE MANAGEMENT
(PSM) LIMITED (REGISTERED NUMBER: 10155562)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 May 2022 89,538
Additions 20,713
At 30 April 2023 110,251
DEPRECIATION
At 1 May 2022 64,165
Charge for year 11,547
At 30 April 2023 75,712
NET BOOK VALUE
At 30 April 2023 34,539
At 30 April 2022 25,373

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 192,532 138,050
Amounts owed by parent company 450,000 251,000
Other debtors 8,023 42,033
650,555 431,083

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 7,426 5,623
Taxation and social security 163,212 118,126
Other creditors 161,244 146,795
331,882 270,544

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 8,190 1,300

PROFESSIONAL SURVEILLANCE MANAGEMENT
(PSM) LIMITED (REGISTERED NUMBER: 10155562)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2023 and 30 April 2022:

2023 2022
£    £   
K L Jones
Balance outstanding at start of year 36,856 6,656
Amounts advanced 199,200 138,200
Amounts repaid (236,200 ) (108,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (144 ) 36,856

The above balance is unsecured, interest free and repayable on demand. The maximum overdrawn balance during the year was £36,856 (2022: £54,256).