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REGISTERED NUMBER: 09484543 (England and Wales)

| Unaudited Financial Statements for the Year Ended 31st March 2025 |

| for |

| PSM Associates Limited |

PSM Associates Limited (Registered number: 09484543)

Contents of the Financial Statements

for the Year Ended 31st March 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

Chartered Accountants' Report | 7 |

PSM Associates Limited

Company Information

for the Year Ended 31st March 2025

| DIRECTORS: | Mr S H Lennon

| Mrs K S Lennon

| REGISTERED OFFICE: | Woodlands Grange

| Woodlands Lane

| Bradley Stoke

| Bristol

| United Kingdom

| BS32 4JY

| REGISTERED NUMBER: | 09484543 (England and Wales)

| ACCOUNTANTS: | Dunkley's

| Woodlands Grange

| Woodlands Lane

| Bradley Stoke

| Bristol

| United Kingdom

| BS32 4JY

PSM Associates Limited (Registered number: 09484543)

Balance Sheet

31st March 2025

| 31.3.25 | 31.3.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 1,144 |  | 1,526 |  |

Investments | 5 | 49,578 |  | 48,831 |  |

50,722 |  | 50,357 |  |

CURRENT ASSETS

Debtors | 6 | 191,202 |  | 192,837 |  |

Cash at bank | 457,305 |  | 311,327 |  |

648,507 |  | 504,164 |  |

CREDITORS

Amounts falling due within one year | 7 | 1,056 |  | 23,876 |  |

NET CURRENT ASSETS | 647,451 |  | 480,288 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 698,173 |  | 530,645 |  |

PROVISIONS FOR LIABILITIES | 1,616 |  | 1,524 |  |

NET ASSETS | 696,557 |  | 529,121 |  |

CAPITAL AND RESERVES

Called up share capital | 8 | 11 |  | 11 |  |

Fair value reserve | 9 | 3,991 |  | 3,431 |  |

Retained earnings | 9 | 692,555 |  | 525,679 |  |

SHAREHOLDERS' FUNDS | 696,557 |  | 529,121 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 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.

PSM Associates Limited (Registered number: 09484543)

Balance Sheet - continued

31st March 2025

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 13th October 2025 and were signed on its behalf by:

Mr S H Lennon - Director

PSM Associates Limited (Registered number: 09484543)

Notes to the Financial Statements

for the Year Ended 31st March 2025

1. | STATUTORY INFORMATION

| PSM Associates 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.

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.

| 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.

| Fixtures and fittings | - | 25% on reducing balance

| Computer equipment | - | 25% on reducing balance

| Investments in associates

| Investments in associate undertakings are recognised at 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.

| 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.

| Other investments

| The other investmnets were valued on a market value basis as at 31 March 2025

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was NIL (2024 - NIL).

PSM Associates Limited (Registered number: 09484543)

Notes to the Financial Statements - continued

for the Year Ended 31st March 2025

4. | TANGIBLE FIXED ASSETS

| Fixtures |

| and |  | Computer |

| fittings |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1st April 2024

| and 31st March 2025 | 772 |  | 2,405 |  | 3,177 |  |

| DEPRECIATION

| At 1st April 2024 | 32 |  | 1,619 |  | 1,651 |  |

| Charge for year | 185 |  | 197 |  | 382 |  |

| At 31st March 2025 | 217 |  | 1,816 |  | 2,033 |  |

| NET BOOK VALUE

| At 31st March 2025 | 555 |  | 589 |  | 1,144 |  |

| At 31st March 2024 | 740 |  | 786 |  | 1,526 |  |

5. | FIXED ASSET INVESTMENTS

| Interest |

| in |  | Other |

| associate |  | investments |  | Totals

£ | £ | £ |

| COST OR VALUATION

| At 1st April 2024 | 15,007 |  | 33,824 |  | 48,831 |  |

| Revaluations | - |  | 747 |  | 747 |  |

| At 31st March 2025 | 15,007 |  | 34,571 |  | 49,578 |  |

| NET BOOK VALUE

| At 31st March 2025 | 15,007 |  | 34,571 |  | 49,578 |  |

| At 31st March 2024 | 15,007 |  | 33,824 |  | 48,831 |  |

| Cost or valuation at 31st March 2025 is represented by:

| Interest |

| in |  | Other |

| associate |  | investments |  | Totals

£ | £ | £ |

| Valuation in 2022 | - |  | 2,190 |  | 2,190 |  |

| Valuation in 2023 | - |  | (1,582 | ) | (1,582 | ) |

| Valuation in 2024 | - |  | 3,966 |  | 3,966 |  |

| Valuation in 2025 | - |  | 747 |  | 747 |  |

| Cost | 15,007 |  | 29,250 |  | 44,257 |  |

15,007 |  | 34,571 |  | 49,578 |  |

| If the 'other investments' had not been revalued they would have been included the following historical cost :

| 31.03.2025 31.03.2024

| £ £

| Cost : 29,250 29,250

PSM Associates Limited (Registered number: 09484543)

Notes to the Financial Statements - continued

for the Year Ended 31st March 2025

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Other debtors | 127,039 |  | 129,096 |  |

| Directors' current accounts | 20,060 |  | 19,980 |  |

| Tax | 43,992 |  | 43,761 |  |

| Prepayments | 111 |  | - |  |

191,202 |  | 192,837 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Tax | - |  | 22,868 |  |

| Accrued expenses | 1,056 |  | 1,008 |  |

1,056 |  | 23,876 |  |

8. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| 97 Ordinary A each with a nominal value of £9.7

| 10 Ordinary B each with a nominal value of £1

| 1 Ordinary C each with a nominal value of £0.10

| 1 Ordinary D each with a nominal value of £0.10

| 1 Ordinary E each with a nominal value of £0.10

9. | RESERVES

| Fair |

| Retained |  | value |

| earnings |  | reserve |  | Totals

£ | £ | £ |

| At 1st April 2024 | 525,679 |  | 3,431 |  | 529,110 |  |

| Profit for the year | 196,436 |  | - |  | 196,436 |  |

| Dividends | (29,000 | ) | - |  | (29,000 | ) |

| Assets revalued in period | (560 | ) | 560 |  | - |  |

| At 31st March 2025 | 692,555 |  | 3,991 |  | 696,546 |  |

Chartered Accountants' Report to the Board of Directors

on the Unaudited Financial Statements of

PSM Associates Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of PSM Associates Limited for the year ended 31st March 2025 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of PSM Associates Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of PSM Associates Limited and state those matters that we have agreed to state to the Board of Directors of PSM Associates Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PSM Associates Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that PSM Associates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of PSM Associates Limited. You consider that PSM Associates Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of PSM Associates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Dunkley's

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

United Kingdom

BS32 4JY

13th October 2025