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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
Director
Tom Samuels
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
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Passinc Ltd Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,090 
154 
Current assets
Debtors
42,611 
64,508 
Cash at bank and in hand
1,253,019 
988,078 
1,295,630 
1,052,586 
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
Deferred tax
(273)
(39)
Net assets
962,997 
728,363 
Capital and reserves
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
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Passinc Ltd Notes to the Accounts for the year ended 31 August 2024
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 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 September 2023
231 
- 
231 
Additions
- 
1,042 
1,042 
At 31 August 2024
231 
1,042 
1,273 
Depreciation
At 1 September 2023
77 
- 
77 
Charge for the year
77 
29 
106 
At 31 August 2024
154 
29 
183 
Net book value
At 31 August 2024
77 
1,013 
1,090 
At 31 August 2023
154 
- 
154 
5
Debtors
2024 
2023 
£ 
£ 
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 
Other debtors
4,748 
- 
42,611 
64,508 
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Passinc Ltd Notes to the Accounts for the year ended 31 August 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
36,765 
38,185 
Trade creditors
158,800 
171,537 
Taxes and social security
111,343 
90,531 
Other creditors
17,570 
17,186 
Loans from directors
- 
312 
Accruals
8,972 
6,587 
333,450 
324,338 
7
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
273 
39 
2024 
2023 
£ 
£ 
Provision at start of year
39 
- 
Charged to the profit and loss account
234 
39 
Provision at end of year
273 
39 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Loan to Director
- 
4,748 
- 
4,748 
- 
4,748 
- 
4,748 
A loan was made to the director in the year. This is an interest free loan and repayable upon demand.
9
Controlling party
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).
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