Company Registration No. 08180998 (England and Wales)
Passinc Ltd
Unaudited accounts
for the year ended 31 August 2024
Passinc Ltd
Company Information
for the year ended 31 August 2024
Company Number
08180998 (England and Wales)
Registered Office
63 Hatton Garden
5th Floor, Suite 23
London
EC1N 8LE
Accountants
DDA Accountancy Ltd
8 Cockayne Way
Selsey
West Sussex
PO20 OFX
Passinc Ltd
Statement of financial position
as at 31 August 2024
Cash at bank and in hand
1,253,019
988,078
Creditors: amounts falling due within one year
(333,450)
(324,338)
Net current assets
962,180
728,248
Total assets less current liabilities
963,270
728,402
Provisions for liabilities
Net assets
962,997
728,363
Called up share capital
2
2
Profit and loss account
962,995
728,361
Shareholders' funds
962,997
728,363
For the year ending 31 August 2024 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 9 October 2024 and were signed on its behalf by
Tom Samuels
Director
Company Registration No. 08180998
Passinc Ltd
Notes to the Accounts
for the year ended 31 August 2024
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.
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.
The accounts have been prepared under the historical cost convention
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
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 September 2023
231
-
231
At 31 August 2024
231
1,042
1,273
At 1 September 2023
77
-
77
Charge for the year
77
29
106
At 31 August 2024
154
29
183
At 31 August 2024
77
1,013
1,090
At 31 August 2023
154
-
154
Amounts falling due within one year
Trade debtors
33,744
60,704
Amounts due from group undertakings etc.
3,106
2,967
Accrued income and prepayments
1,013
837
Passinc Ltd
Notes to the Accounts
for the year ended 31 August 2024
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
158,800
171,537
Taxes and social security
111,343
90,531
Other creditors
17,570
17,186
Loans from directors
-
312
7
Deferred taxation
2024
2023
Accelerated capital allowances
273
39
Provision at start of year
39
-
Charged to the profit and loss account
234
39
Provision at end of year
273
39
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan to Director
-
4,748
-
4,748
A loan was made to the director in the year. This is an interest free loan and repayable upon demand.
Passinc Limited is a 100% subsidiary of Starshot Limited
10
Average number of employees
During the year the average number of employees was 3 (2023: 3).