Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseNo description of principal activity44truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09807101 2023-01-01 2023-12-31 09807101 2022-01-01 2022-12-31 09807101 2023-12-31 09807101 2022-12-31 09807101 c:Director1 2023-01-01 2023-12-31 09807101 d:PlantMachinery 2023-01-01 2023-12-31 09807101 d:PlantMachinery 2023-12-31 09807101 d:PlantMachinery 2022-12-31 09807101 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09807101 d:ComputerEquipment 2023-01-01 2023-12-31 09807101 d:ComputerEquipment 2023-12-31 09807101 d:ComputerEquipment 2022-12-31 09807101 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09807101 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09807101 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-12-31 09807101 d:CopyrightsPatentsTrademarksServiceOperatingRights 2022-12-31 09807101 d:CurrentFinancialInstruments 2023-12-31 09807101 d:CurrentFinancialInstruments 2022-12-31 09807101 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09807101 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09807101 d:ShareCapital 2023-12-31 09807101 d:ShareCapital 2022-12-31 09807101 d:RetainedEarningsAccumulatedLosses 2023-12-31 09807101 d:RetainedEarningsAccumulatedLosses 2022-12-31 09807101 c:OrdinaryShareClass1 2023-01-01 2023-12-31 09807101 c:OrdinaryShareClass1 2023-12-31 09807101 c:OrdinaryShareClass1 2022-12-31 09807101 c:FRS102 2023-01-01 2023-12-31 09807101 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 09807101 c:FullAccounts 2023-01-01 2023-12-31 09807101 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09807101 d:Subsidiary1 2023-01-01 2023-12-31 09807101 d:Subsidiary1 1 2023-01-01 2023-12-31 09807101 6 2023-01-01 2023-12-31 09807101 d:CopyrightsPatentsTrademarksServiceOperatingRights d:OwnedIntangibleAssets 2023-01-01 2023-12-31 09807101 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09807101
















PASSENGER TECHNOLOGY GROUP LIMITED


UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

































PASSENGER TECHNOLOGY GROUP LIMITED

 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PASSENGER TECHNOLOGY GROUP LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Passenger Technology Group Limited for the year ended 31 December 2023 which comprise  the Statement of financial position 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 at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Passenger Technology Group Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Passenger Technology Group Limited and state those matters that we have agreed to state to the Board of directors of Passenger Technology Group Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Passenger Technology Group Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Passenger Technology Group 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 Passenger Technology Group Limited. You consider that Passenger Technology Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Passenger Technology Group 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.

  




Bishop Fleming LLP
Chartered Accountants
10 Temple Back
Bristol
BS1 6FL
26 September 2024
Page 1


PASSENGER TECHNOLOGY GROUP LIMITED
REGISTERED NUMBER:09807101

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
143
165

Tangible assets
 5 
8,574
12,943

Investments
 6 
1
1

  
8,718
13,109

Current assets
  

Debtors: amounts falling due within one year
 7 
756,889
877,857

Cash at bank and in hand
  
262,955
55,450

  
1,019,844
933,307

Creditors: amounts falling due within one year
 8 
(559,855)
(520,565)

Net current assets
  
 
 
459,989
 
 
412,742

Total assets less current liabilities
  
468,707
425,851

  

Net assets
  
468,707
425,851


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
468,607
425,751

  
468,707
425,851


Page 2


PASSENGER TECHNOLOGY GROUP LIMITED
REGISTERED NUMBER:09807101
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 





Mr Andrew Brown
Director

Date: 26 September 2024

The notes on pages 4 to 9 form part of these financial statements.

Page 3


PASSENGER TECHNOLOGY GROUP LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


GENERAL INFORMATION

Passenger Technology Group Limited is a private company, limited by shares and registered in England and Wales.
Its registered number is 09807101.
Its registered office is The Echo Building C/O This Workspace, 18 Albert Road, Bournemouth, England, BH1 1BZ.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The Company is exempt by virtue of s400 of the Companies act 2006 from the requirement to prepare group accounts as a wholly owned subsidiary of We Are Base Limited. These financial statements present information about the Company as an individual undertaking and not about its group.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements. 

 
2.3

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 4


PASSENGER TECHNOLOGY GROUP LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (continued)

 
2.4

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.5

INTANGIBLE ASSETS

TRADEMARKS
Trademarks are measured at cost less accumulated amoritsation and accumulated impairment losses. Trademarks are amortised on a straight line basis to the Statement of income and retained earnings over their useful life of 10 years.

 
2.6

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
straight line
Computer equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5


PASSENGER TECHNOLOGY GROUP LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (continued)

 
2.10

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 4 (2022: 4).


4.


INTANGIBLE ASSETS




Trademarks

£



COST


At 1 January 2023
220



At 31 December 2023

220



AMORTISATION


At 1 January 2023
55


Charge for the year on owned assets
22



At 31 December 2023

77



NET BOOK VALUE



At 31 December 2023
143



At 31 December 2022
165



Page 6


PASSENGER TECHNOLOGY GROUP LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


TANGIBLE FIXED ASSETS





Plant and machinery
Computer equipment
Total

£
£
£



COST OR VALUATION


At 1 January 2023
19,026
3,812
22,838



At 31 December 2023

19,026
3,812
22,838



DEPRECIATION


At 1 January 2023
6,164
3,731
9,895


Charge for the year on owned assets
4,288
81
4,369



At 31 December 2023

10,452
3,812
14,264



NET BOOK VALUE



At 31 December 2023
8,574
-
8,574



At 31 December 2022
12,862
81
12,943

Page 7


PASSENGER TECHNOLOGY GROUP LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


FIXED ASSET INVESTMENTS





Investments in subsidiary companies

£



COST OR VALUATION


At 1 January 2023
1



At 31 December 2023
1





SUBSIDIARY UNDERTAKING


The following was a subsidiary undertaking of the Company:

Name

Registered office

Class of shares

Holding

myTrip by Passenger Limited
The Echo Building C/O This Workspace, 18 Albert Road, Bournemouth, England, BH1 1BZ
Ordinary
100%


7.


DEBTORS

2023
2022
£
£


Trade debtors
367,120
471,372

Amounts owed by group undertakings
321,486
363,854

Prepayments and accrued income
68,283
42,631

756,889
877,857


Amounts owed by group undertakings are non interest bearing and have no fixed date for repayment.

Page 8


PASSENGER TECHNOLOGY GROUP LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Trade creditors
8,414
11,431

Other taxation and social security
135,090
120,160

Other creditors
17,158
2,087

Accruals and deferred income
399,193
386,887

559,855
520,565



9.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



10,000 (2022: 10,000) Ordinary shares of £0.01 each
100
100



10.


RELATED PARTY TRANSACTIONS

During the year the Company has taken advantage of the exemption available under FRS 102 1a.c 35 to not disclose details of transactions within a wholly owned group.


11.


CONTROLLING PARTY

The Immediate parent and Ultimate parent company is We are Base Ltd, a company incorporated in the United Kingdom, its registered office is The Echo Building C/O This Workspace, 18 Albert Road, Bournemouth, England, BH1 1BZ.
We Are Base Ltd heads the largest and smallest group in which the results of the company are consolidated. Copies of the consolidated financial statements can be obtained on Companies House.

 
Page 9