Push Security Ltd iXBRL

Push Security Ltd

Director's Report and Unaudited Financial Statements

for the financial period ended 31 January 2026

Push Security Ltd

DIRECTOR AND OTHER INFORMATION


Director	Mr Adam James Bateman


Company Registration Number	12309408


Registered Office and Business Address	2 Kingdom Street
	6th Floor
	London
	W2 6BD
	United Kingdom


Accountants	Visionary Accountants
	2 Adelaide Street
	St Albans
	Hertfordshire
	AL3 5BH
	United Kingdom

Push Security Ltd

DIRECTOR'S REPORT

for the financial period ended 31 January 2026

The director presents their report and the unaudited financial statements for the financial period ended 31 January 2026.

Principal Activity

Cyber Security (Software as a Service)

Director

The director who served during the financial period is as follows:

Mr Adam James Bateman

There were no changes in shareholdings between 31 January 2026 and the date of signing the financial statements.

Political Contributions

The company did not make any disclosable political donations in the current financial period.

Special provisions relating to small companies

The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

On behalf of the board

___________________________

Mr Adam James Bateman

Director

23 October 2026

Push Security Ltd

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

for the financial period ended 31 January 2026

The director is responsible for preparing the Director's Report 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) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the director must not approve the financial statements unless they 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 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 them to ensure that the financial statements comply with the Companies Act 2006. They 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.

On behalf of the board

___________________________

Mr Adam James Bateman

Director

23 October 2026

Push Security Ltd

ACCOUNTANTS REPORT

to the Director on the Compilation of the unaudited financial statements of Push Security Ltd

for the financial period ended 31 January 2026

In accordance with our engagement letter and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled for your approval the financial statements of the company for the financial period ended 31 January 2026 as set out on pages to which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.

This report is made solely to the director of Push Security Ltd, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company’s Director that we have done so, and state those matters that we have agreed to state to them in this 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 its director for our work or for this report.

We have carried out this engagement in accordance with guidance issued by CIMA and have complied with the relevant ethical guidance laid down by CIMA relating to members undertaking the compilation of financial statements.

You have acknowledged on the Balance Sheet for the period ended 31 January 2026 your duty to ensure that Push Security Ltd 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 loss of Push Security Ltd. You consider that Push Security Ltd is exempt from the statutory audit requirement for the financial period.

We have not been instructed to carry out an audit or a review of the financial statements of Push Security Ltd. For this reason, we have not verified the adequacy, 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.

__________________________________

VISIONARY ACCOUNTANTS

2 Adelaide Street

St Albans

Hertfordshire

AL3 5BH

United Kingdom

23 October 2026

Push Security Ltd

PROFIT AND LOSS ACCOUNT

for the financial period ended 31 January 2026

Jan 26

Dec 24

Notes

Turnover		3,035,533	729,094

Cost of sales		(542,008)	(498,769)
		─────────	─────────
Gross profit		2,493,525	230,325

Administrative expenses		(15,043,315)	(4,865,030)
Other operating income		-	2
		─────────	─────────
Operating loss		(12,549,790)	(4,634,703)

Investment income	5	778,213	470,707
		─────────	─────────
Loss before taxation		(11,771,577)	(4,163,996)

Tax on loss		-	-
		─────────	─────────
Loss for the financial period		(11,771,577)	(4,163,996)
		─────────	─────────
Total comprehensive income		(11,771,577)	(4,163,996)
		═════════	═════════

Push Security Ltd

Company Registration Number: 12309408

BALANCE SHEET

as at 31 January 2026

Jan 26

Dec 24

Notes

Fixed Assets

Tangible assets

65,441

19,622

─────────

Current Assets

Debtors

6,909,857

1,510,530

Investments

14,989,397

Cash and cash equivalents

3,679,952

529,194

─────────

25,579,206

2,039,724

─────────

Creditors: amounts falling due within one year

(48,341,980)

(1,078,526)

─────────

Net Current (Liabilities)/Assets

(22,762,774)

961,198

─────────

Total Assets less Current Liabilities

(22,697,333)

980,820

Creditors:

amounts falling due after more than one year

(9,042,242)

─────────

Net Liabilities

(22,697,333)

(8,061,422)

═════════

Capital and Reserves

Called up share capital

600

600

Other reserves

(2,864,334)

Retained earnings

(19,833,599)

(8,062,022)

─────────

Equity attributable to owners of the company

(22,697,333)

(8,061,422)

═════════

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).

For the financial period ended 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial period and of its profit and loss for the financial period 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.

Approved by the Director and authorised for issue on 23 October 2026



________________________________
Mr Adam James Bateman
Director

Push Security Ltd

NOTES TO THE FINANCIAL STATEMENTS

for the financial period ended 31 January 2026

General Information

Push Security Ltd is a company limited by shares incorporated and registered in the United Kingdom. The registered number of the company is 12309408. The registered office of the company is 2 Kingdom Street, 6th Floor, London, W2 6BD, United Kingdom which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Director's Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the financial period ended 31 January 2026 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Turnover

Turnover represents income from the provision of cybersecurity software subscriptions and related services, excluding value added tax and discounts.

Subscription income is recognised over the period in which the services are provided. Amounts invoiced in advance for services relating to future periods are recognised as deferred income and released to turnover over the relevant service period.

Tangible assets and depreciation

Tangible assets are stated at cost or at valuation, less accumulated depreciation. Cost comprises purchase price and other directly attributable costs. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:

33% Straight line

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Leasing

Rentals payable under operating leases are dealt with in the Profit and Loss Account as incurred over the period of the rental agreement.

Investments

Current asset investments are stated at the lower of cost and net realisable value.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Borrowing costs

Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Employee 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.

Taxation and deferred taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial period and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

Period of financial statements

The financial statements are for the 13 month period ended 31 January 2026.

Going concern

At 31 January 2026, the company had net liabilities of £22,697,333 and owed £45,962,332 to its parent company, Push Security Inc.

The company is dependent upon the continued financial support of its parent company to meet its liabilities as they fall due.

Management has confirmed that Push Security Inc will continue to provide financial support for at least 12 months from the date of approval of these financial statements.

Subject to the directors' assessment of this support and the company's cash flow requirements, the financial statements have been prepared on the going concern basis.


5.	Income from investments	Jan 26	Dec 24
		£	£

	Investment income	778,213	470,707
		═════════	═════════

Employees

The average monthly number of employees, including director, during the financial period was 24, (Dec 24 - 38).

Jan 26

Dec 24

Number

Number

Employees

═════════


7.	Tangible assets
			Total


		£	£
	Cost
	At 1 January 2025	60,370	60,370
	Additions	75,401	75,401
		─────────	─────────
	At 31 January 2026	135,771	135,771
		─────────	─────────
	Depreciation
	At 1 January 2025	40,748	40,748
	Charge for the financial period	29,582	29,582
		─────────	─────────
	At 31 January 2026	70,330	70,330
		─────────	─────────
	Net book value
	At 31 January 2026	65,441	65,441
		═════════	═════════
	At 31 December 2024	19,622	19,622
		═════════	═════════


8.	Debtors	Jan 26	Dec 24
		£	£

	Trade debtors	-	202,460
	Amounts owed by group undertakings	6,144,912	-
	Other debtors	102,091	1,122,337
	Prepayments and accrued income	662,854	185,733
		─────────	─────────
		6,909,857	1,510,530
		═════════	═════════


9.	Investments	Jan 26	Dec 24
		£	£

	Listed investments	14,989,397	-
		═════════	═════════


10.	Creditors	Jan 26	Dec 24
	Amounts falling due within one year	£	£

	Trade creditors	361,272	180,101
	Amounts owed to group undertakings	45,962,332	-
	Taxation (Note 12)	255,473	71,524
	Other creditors	27,056	16,760
	Accruals and deferred income	1,735,847	810,141
		─────────	─────────
		48,341,980	1,078,526
		═════════	═════════


11.	Creditors	Jan 26	Dec 24
	Amounts falling due after more than one year	£	£

	Amounts owed to group undertakings	-	9,042,242
		═════════	═════════


12.	Taxation	Jan 26	Dec 24
		£	£

	Creditors:
	VAT	94,062	2,613
	PAYE / NI	161,411	68,911
		─────────	─────────
		255,473	71,524
		═════════	═════════

13.

Financial commitments

The company utilised flexible coworking and workspace facilities during the financial period. At 31 January 2026, the company had no material commitments under non-cancellable operating leases.

14.

Capital commitments

The company had no material capital commitments at the financial period-ended 31 January 2026.

15.

Related party transactions

The company operates an intercompany loan account with its parent company, Push Security Inc, which is incorporated in the United States of America.

At 31 January 2026, the amount owed to Push Security Inc was £45,962,332 (31 December 2024: £9,042,242)

The ultimate controlling party of the company is Push Security Inc.

16.

Post-Balance Sheet Events

There have been no significant events affecting the company since the financial period-end.

Push Security Ltd

SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS

TRADING STATEMENT

for the financial period ended 31 January 2026

	Jan 26		Dec 24
	£		£

Sales

3,035,533

729,094

─────────

Cost of sales

Purchases

343,964

96,111

Merchant Processing Fees

22,141

Customer Success Other Direct Costs

6,337

Wages and salaries

159,627

Social security costs

7,272

Staff pension scheme costs

2,667

Subcontract costs

402,658

─────────

542,008

498,769

─────────

Gross profit

2,493,525

230,325

─────────

Gross profit Percentage

82.1%

31.6%

─────────

Administrative expenses - Schedule 1

15,043,315

4,865,030

─────────

Miscellaneous income

Net interest on pension fund assets/liabilities	-	2
Income from listed investments	228,706	-
Income from unlisted investments	549,507	470,707
	─────────	─────────
	778,213	470,709
	─────────	─────────

Net loss	(11,771,577)	(4,163,996)
	═════════	═════════

Push Security Ltd

SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS

SCHEDULE 1: ADMINISTRATIVE EXPENSES ANALYSIS

for the financial period ended 31 January 2026

	Jan 26		Dec 24
£	£	£	£

Director's and Staff Costs

Wages and salaries

7,788,169

2,846,728

Director's salaries

97,042

Employers NIC (UK) PRSI (Ireland)

772,040

280,655

Pension costs

166,071

56,517

─────────

8,726,280

3,280,942

Office Expenses

Commissions

1,742,978

461,442

Printing, postage and stationery

14,070

4,896

─────────

1,757,048

466,338

Premises and Equipment Expenses

Operating lease rentals - land and buildings

24,804

9,736

Insurance

41,987

12,939

Computer bureau costs

58,477

80,948

Computer costs

386,900

146,001

─────────

512,168

249,624

General Expenses

General expenses

223,150

1,455

Charitable donations - other

4,595

8,653

─────────

227,745

10,108

Sales and Promotional Expenses

Advertising

1,473,400

401,406

Travelling and entertainment

533,710

171,215

Entertaining

326,871

20,292

─────────

2,333,981

592,913

Professional and Financial Expenses

Legal and professional

435,975

221,839

Consultancy fees

971,107

Accountancy Fees

53,122

12,191

Bank charges

1,757

9,448

Profit/loss on exchange

(5,450)

1,504

─────────

1,456,511

244,982

Depreciation

depreciation	29,582		20,123
	─────────		─────────
		29,582		20,123
		─────────		─────────
		15,043,315		4,865,030
		═════════		═════════