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REGISTERED NUMBER: 05989881 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

DEFINITIVE PSA LTD

DEFINITIVE PSA LTD (REGISTERED NUMBER: 05989881)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024




Page

Company Information 1

Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 5

Statement of Income and Retained Earnings 8

Balance Sheet 9

Cash Flow Statement 10

Notes to the Cash Flow Statement 11

Notes to the Financial Statements 12


DEFINITIVE PSA LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTOR: D P Boswell





REGISTERED OFFICE: Unit 7 The Felbridge Centre
Imberhorne Lane
East Grinstead
West Sussex
RH19 1XP





REGISTERED NUMBER: 05989881 (England and Wales)





AUDITORS: Xeinadin Audit Limited
8th Floor
Becket House
36 Old Jewry
London
EC2R 8DD

DEFINITIVE PSA LTD (REGISTERED NUMBER: 05989881)

STRATEGIC REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2024

The director presents his strategic report for the year ended 30 November 2024.

The Company's main activity remains that of providing security services for government contracts and private companies. These services are provided in the south of England.

REVIEW OF BUSINESS
The Company has continued to perform strongly during the year, surpassing the previous year's results. Turnover reached £18,310,453 (2023: £17,204,763), with net profit before tax rising to £2,583,360 (2023: £1,818,300).

During the year, the government contract was extended to January 2026. The Company continues to pursue growth in the security services sector both locally and in wider markets, actively tendering for new opportunities and engaging business development contractors to support this expansion.

PRINCIPAL RISKS AND UNCERTAINTIES
The primary uncertainty facing the business is the large government contract set to expire on 31st January 2026. Post year end, the Company submitted a tender for the continuation of the current contract, which now includes additional security services. The outcome of this tender is still pending with formal announcements expected in Spring 2026. In the event of an unsuccessful bid there would be an expected run off period to the end of 2026 enabling the Company to maintain sufficient cash reserves to support ongoing operations and to pursue alternative tenders to diversify its portfolio.

The sustained success of the business also depends on the retention of dedicated staff. Recruitment of like-minded individuals remains a key focus.

The Company manages its cash reserves prudently, ensuring adequate liquidity for operational needs while investing surplus funds to achieve competitive returns. Trade debtors and creditors are managed in line with internal policies to mitigate risks to cash flow, including credit and liquidity risk.

FINANCIAL KEY PERFORMANCE INDICATORS
The Director actively contributes to and monitors the controlled growth of the business, supported by a capable management team and a commitment to excellent customer service. Where necessary, specialist contractors have been engaged to provide expertise and support the Director's strategic role in identifying and developing new business opportunities.

FUTURE DEVELOPMENTS
The outlook for 2025 and beyond remains positive. The Company's largest contract extends until at least early 2026, with strong expectations for renewal and the addition of new work for a further six-year term. Continued investment in business development is enabling the growth of a diverse portfolio, reducing reliance on any single contract.

Definitive PSA enjoys an excellent reputation, and with a seasoned management team in place, turnover for 2025 is expected to exceed that of 2024. The Company is well positioned for continued growth and has sufficient capital reserves to invest in future expansion initiatives.

ON BEHALF OF THE BOARD:





D P Boswell - Director


28 August 2025

DEFINITIVE PSA LTD (REGISTERED NUMBER: 05989881)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 30 NOVEMBER 2024

The director presents his report with the financial statements of the company for the year ended 30 November 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of Private security activities

DIVIDENDS
An interim dividend of £16600 per share was paid on 30 November 2024. The director recommends that no final dividend be paid.

The total distribution of dividends for the year ended 30 November 2024 will be £ 166,000 .

DIRECTOR
D P Boswell held office during the whole of the period from 1 December 2023 to the date of this report.

ENGAGEMENT WITH EMPLOYEES
The Company aims to provide equal opportunities regardless of gender, race, religion or belief, sexual orientation, disability or ethnic origin, recognising that the continued success of the Company depends on its ability to attract, motivate and retain people of the highest calibre.

The Company has continued its policy of giving fair consideration to applications for employment made by disabled persons bearing in mind the requirements of the job. In the areas of planned employee training and career development the company strives to ensure that disabled employees receive maximum possible benefits including opportunities for promotion. Every effort is made to ensure that continuing employment and opportunities for training are also provided for employees who become disabled

The Company recognises the importance of ensuring employees are kept informed of the Company's performance, activities and future plans, and takes all reasonable steps to communicate developments, through regular face to face team briefing meetings and internal mail.

The Director recognises that the Company's continued success is due to the hard work and dedication shown by the staff and thanks all of the teams for their continued support.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is 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 director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is 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 enable him to ensure that the financial statements comply with the Companies Act 2006. He is 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

DEFINITIVE PSA LTD (REGISTERED NUMBER: 05989881)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 30 NOVEMBER 2024


AUDITORS
The auditors, Xeinadin Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





D P Boswell - Director


28 August 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
DEFINITIVE PSA LTD

Opinion
We have audited the financial statements of Definitive PSA Ltd (the 'company') for the year ended 30 November 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, 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).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 November 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
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 Auditors' 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 UK, including the FRC'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.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
DEFINITIVE PSA LTD


Matters on which we are required to report by exception
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 Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
DEFINITIVE PSA LTD


Auditors' responsibilities for the audit of the financial statements
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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- Reviewing minutes of meetings of those charged with governance

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.

- With the exception of any known or possible non-compliance, and as required by auditing standards, our work in
respect of these was limited to enquiry of the Officers.

- We communicated identified laws and regulations throughout our team and remained alert to any indications of
non-compliance throughout the audit.

- We addressed the risk of fraud through management override of controls, by testing the appropriateness of journal
entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

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 Report of the Auditors.

Use of our 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 a Report of the Auditors 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.




Andrew Hill (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited
8th Floor
Becket House
36 Old Jewry
London
EC2R 8DD

29 August 2025

DEFINITIVE PSA LTD (REGISTERED NUMBER: 05989881)

STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2024 2023
Notes £    £    £   

TURNOVER 18,310,453 17,204,763

Cost of sales 14,512,416 13,871,485
GROSS PROFIT 3,798,037 3,333,278

Distribution costs 94,071 142,210
Administrative expenses 1,370,941 1,461,221
1,465,012 1,603,431
2,333,025 1,729,847

Other operating income 133,123 85,201
OPERATING PROFIT 4 2,466,148 1,815,048

Interest receivable and similar income 120,228 13,776
2,586,376 1,828,824

Interest payable and similar expenses 5 3,016 10,524
PROFIT BEFORE TAXATION 2,583,360 1,818,300

Tax on profit 6 674,457 353,764
PROFIT FOR THE FINANCIAL YEAR 1,908,903 1,464,536

Retained earnings at beginning of year 3,065,049 1,795,513

Dividends 7 (166,000 ) (195,000 )

RETAINED EARNINGS AT END OF
YEAR

4,807,952

3,065,049

DEFINITIVE PSA LTD (REGISTERED NUMBER: 05989881)

BALANCE SHEET
30 NOVEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 8 117,460 102,460
Tangible assets 9 168,734 259,599
286,194 362,059

CURRENT ASSETS
Stocks 10 37,478 50,795
Debtors 11 2,384,151 4,504,321
Cash at bank and in hand 4,183,973 469,175
6,605,602 5,024,291
CREDITORS
Amounts falling due within one year 12 2,019,738 2,212,450
NET CURRENT ASSETS 4,585,864 2,811,841
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,872,058

3,173,900

CREDITORS
Amounts falling due after more than one
year

13

(36,631

)

(85,289

)

PROVISIONS FOR LIABILITIES 15 (27,465 ) (23,552 )
NET ASSETS 4,807,962 3,065,059

CAPITAL AND RESERVES
Called up share capital 16 10 10
Retained earnings 17 4,807,952 3,065,049
SHAREHOLDERS' FUNDS 4,807,962 3,065,059

The financial statements were approved by the director and authorised for issue on 28 August 2025 and were signed by:





D P Boswell - Director


DEFINITIVE PSA LTD (REGISTERED NUMBER: 05989881)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 NOVEMBER 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 4,584,481 (401,385 )
Interest paid (3,016 ) (10,524 )
Tax paid (717,776 ) (244,005 )
Taxation refund - 26,701
Net cash from operating activities 3,863,689 (629,213 )

Cash flows from investing activities
Purchase of intangible fixed assets (15,000 ) (37,950 )
Purchase of tangible fixed assets (33,636 ) (40,630 )
Sale of tangible fixed assets 6,901 6,667
Interest received 120,228 13,776
Net cash from investing activities 78,493 (58,137 )

Cash flows from financing activities
Capital repayments in year (62,004 ) (61,367 )
Amount introduced by directors 109 99
Amount withdrawn by directors 511 (342 )
Equity dividends paid (166,000 ) (195,000 )
Net cash from financing activities (227,384 ) (256,610 )

Increase/(decrease) in cash and cash equivalents 3,714,798 (943,960 )
Cash and cash equivalents at beginning of
year

2

469,175

1,413,135

Cash and cash equivalents at end of year 2 4,183,973 469,175

DEFINITIVE PSA LTD (REGISTERED NUMBER: 05989881)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 NOVEMBER 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit before taxation 2,583,360 1,818,300
Depreciation charges 117,600 144,279
Loss on disposal of fixed assets - 37,211
Finance costs 3,016 10,524
Finance income (120,228 ) (13,776 )
2,583,748 1,996,538
Decrease/(increase) in stocks 13,317 (22,391 )
Decrease/(increase) in trade and other debtors 2,120,170 (2,208,616 )
Decrease in trade and other creditors (132,754 ) (166,916 )
Cash generated from operations 4,584,481 (401,385 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 November 2024
30/11/24 1/12/23
£    £   
Cash and cash equivalents 4,183,973 469,175
Year ended 30 November 2023
30/11/23 1/12/22
£    £   
Cash and cash equivalents 469,175 1,413,135


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/12/23 Cash flow At 30/11/24
£    £    £   
Net cash
Cash at bank and in hand 469,175 3,714,798 4,183,973
469,175 3,714,798 4,183,973
Debt
Finance leases (146,501 ) 62,004 (84,497 )
(146,501 ) 62,004 (84,497 )
Total 322,674 3,776,802 4,099,476

DEFINITIVE PSA LTD (REGISTERED NUMBER: 05989881)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1. STATUTORY INFORMATION

Definitive PSA Ltd 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.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the application of the Company's accounting policies. These judgements, estimates and associated assumptions are based on historical experience, current and expected economic conditions as well as other factors that are believed to be reasonable under the circumstances.

The judgements, 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 and in any future periods affected

Although these judgements, estimates and associated assumptions are based on management's best knowledge of current events and circumstances, the actual results may differ.

Critical judgements in applying the Company's accounting policies
The Company's critical judgements, other than those involving estimates dealt with separately below, that the director's have made in the process of applying the Company's accounting policies and that has the most significant effect on the amounts recognised in the financial statements is in applying the policy for the valuation of stock, as there is an assumption that there will be a continued need for the uniform and protective clothing that has been held for use in continued and renewed contracts.

Key sources of estimation uncertainty
The key assumptions and sources of estimation uncertainty at the balance sheet date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year is the selection of appropriate depreciation rates for the Company's fixed assets, which have been determined based on the estimated expected life and residual values of the assets.

Turnover
The company's revenue arises from the provision of security services. Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes for the provision of services in the ordinary course of the company's activities. Revenue is recognised on an accrual basis.

Intangible assets
Intangible assets are stated at cost less amortisation. Amortisation begins once the asset is available for use in the manner intended by management and is provided on a straight-line method over the useful life of the asset.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - straight line over 2 years
Fixtures and fittings - straight line over 2-5 years
Motor vehicles - straight line over 4-5 years
Computer equipment - straight line over 3-4 years

Tangible assets are initially measured at cost. After initial recognition, tangible assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.

DEFINITIVE PSA LTD (REGISTERED NUMBER: 05989881)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

2. ACCOUNTING POLICIES - continued

Stocks
Stock represents company uniform and protective clothing as well as other items used within the delivering of services. Items are valued at the lower of cost and net realisable value, after making due allowance for obsolete items.

Financial instruments
Non-derivative financial instruments comprise trade and other receivables, cash and cash equivalents, loans and borrowings and trade and other payables.

A financial instrument is recognised if the company becomes party to the contractual provisions of the instrument. Financial instruments are derecognised if the company's obligations specified in the contract expire or are discharged or are cancelled.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand and short-term deposits with an original maturity of three months or less that are readily convertible to known amounts of cash. The carrying amount represents fair value.

Trade and other receivables
Trade and other receivables do not carry interest. They are initially recognised at fair value which represents the amount of consideration that is unconditional. They are subsequently carried at amortised cost using the effective interest method less loss allowances.

Trade and other payables
Trade and other payables do not carry interest. They are initially recognised at fair value and they are subsequently carried at amortised cost using the effective interest method.

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.

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.

Operating leases
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. The lease commitment is showing within Note 14 taking into account relevant notice periods.

DEFINITIVE PSA LTD (REGISTERED NUMBER: 05989881)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 12,226,623 11,534,490
Social security costs 1,215,708 1,158,188
Other pension costs 190,419 155,475
13,632,750 12,848,153

The average number of employees during the year was as follows:
2024 2023

Operational 332 334
Administration 13 10
Directors 1 1
346 345

2024 2023
£    £   
Director's remuneration 142,500 67,500

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 1 1

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 117,600 144,280
Loss on disposal of fixed assets - 37,211
Auditors' remuneration 9,500 10,500

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Interest on HP loan 4,207 6,505
Other interest payable (1,191 ) 4,019
3,016 10,524

DEFINITIVE PSA LTD (REGISTERED NUMBER: 05989881)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 651,787 422,116
Prior year tax adjustment 18,757 (35,314 )
Total current tax 670,544 386,802

Deferred tax 3,913 (33,038 )
Tax on profit 674,457 353,764

7. DIVIDENDS
2024 2023
£    £   
Ordinary shares of 1 each
Interim 166,000 195,000

8. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 December 2023 102,460
Additions 15,000
At 30 November 2024 117,460
NET BOOK VALUE
At 30 November 2024 117,460
At 30 November 2023 102,460

DEFINITIVE PSA LTD (REGISTERED NUMBER: 05989881)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

9. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 December 2023 24,223 49,535 463,288 19,013 556,059
Additions 3,272 4,249 22,198 3,917 33,636
Disposals - (10,091 ) - (1,457 ) (11,548 )
At 30 November 2024 27,495 43,693 485,486 21,473 578,147
DEPRECIATION
At 1 December 2023 5,462 16,752 270,090 4,156 296,460
Charge for year 9,671 10,262 92,880 4,787 117,600
Eliminated on disposal - (4,246 ) - (401 ) (4,647 )
At 30 November 2024 15,133 22,768 362,970 8,542 409,413
NET BOOK VALUE
At 30 November 2024 12,362 20,925 122,516 12,931 168,734
At 30 November 2023 18,761 32,783 193,198 14,857 259,599

10. STOCKS
2024 2023
£    £   
Stocks 37,478 50,795

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,785,832 3,766,680
Other debtors 310,563 307,825
Prepayments and accrued income 287,756 429,816
2,384,151 4,504,321

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 14) 47,866 61,212
Trade creditors 49,311 148,326
Tax 374,884 422,116
Social security and other taxes 315,812 365,227
VAT 804,697 627,853
Other creditors 46,052 41,318
Directors' current accounts 620 -
Accrued expenses 380,496 546,398
2,019,738 2,212,450

DEFINITIVE PSA LTD (REGISTERED NUMBER: 05989881)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 14) 36,631 85,289

14. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 47,866 61,212
Between one and five years 36,631 85,289
84,497 146,501

Non-cancellable operating leases
2024 2023
£    £   
Within one year 3,833 11,500
Between one and five years - 3,833
3,833 15,333

15. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 27,465 23,552

Deferred
tax
£   
Balance at 1 December 2023 23,552
Charge to Income Statement during year 3,913
Balance at 30 November 2024 27,465

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10 Ordinary 1 10 10

DEFINITIVE PSA LTD (REGISTERED NUMBER: 05989881)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

17. RESERVES
Retained
earnings
£   

At 1 December 2023 3,065,049
Profit for the year 1,908,903
Dividends (166,000 )
At 30 November 2024 4,807,952

18. RELATED PARTY DISCLOSURES

During the year the company paid suppliers and creditors on behalf of two companies connected by common ownership totalling £253,907 (2023: £286,389), and received net repayments of £206,865 (2023: Nil). The company also made sales to these companies totalling £192,948 (2023: 195,313) and purchases of £393,015 (2023: 185,665). At the year end the company was owed £165,902 (2023: £286,389) the amounts are interest free and repayable on demand.