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Company Registration No. 08180998 (England and Wales)
Passinc Ltd Unaudited accounts for the year ended 31 August 2023
Passinc Ltd Company Information for the year ended 31 August 2023
Director
Tom Samuels
Company Number
08180998 (England and Wales)
Registered Office
63 Hatton Garden 5th Floor, Suite 23 London EC1N 8LE
Accountants
DDA Accountancy Limited Debbie Tuesley Bsc (Hon) FCA 54 Valebridge Road Burgess Hill West Sussex RH15 0QY
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Passinc Ltd Statement of financial position as at 31 August 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
154 
- 
Current assets
Debtors
64,508 
34,347 
Cash at bank and in hand
988,078 
749,761 
1,052,586 
784,108 
Creditors: amounts falling due within one year
(324,338)
(288,046)
Net current assets
728,248 
496,062 
Total assets less current liabilities
728,402 
496,062 
Provisions for liabilities
Deferred tax
(39)
- 
Net assets
728,363 
496,062 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
728,361 
496,060 
Shareholders' funds
728,363 
496,062 
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 10 October 2023 and were signed on its behalf by
Tom Samuels Director Company Registration No. 08180998
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Passinc Ltd Notes to the Accounts for the year ended 31 August 2023
1
Statutory information
Passinc Ltd is a private company, limited by shares, registered in England and Wales, registration number 08180998. The registered office is 63 Hatton Garden, 5th Floor, Suite 23, London, EC1N 8LE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at a rate of 3 years straight-line, in order to write off the assets over their estimated useful life
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 September 2022
- 
Additions
231 
At 31 August 2023
231 
Depreciation
Charge for the year
77 
At 31 August 2023
77 
Net book value
At 31 August 2023
154 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
60,704 
31,253 
Amounts due from group undertakings etc.
2,967 
2,768 
Accrued income and prepayments
837 
326 
64,508 
34,347 
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Passinc Ltd Notes to the Accounts for the year ended 31 August 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
38,185 
33,778 
Trade creditors
171,537 
154,085 
Taxes and social security
90,531 
79,201 
Other creditors
17,186 
12,583 
Loans from directors
312 
161 
Accruals
6,587 
8,238 
324,338 
288,046 
7
Controlling party
Passinc Limited is a 100% subsidiary of Starshot Limited
8
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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