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Registered number: 14120958
Pass It On Productions Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
2 Reeds Consultancy Ltd
FMAAT & MAAT
Croft Cottage
Croft Marsh Lane
Croft, Skegness
Lincolnshire
PE24 4AR
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2
Page 1
Balance Sheet
Registered number: 14120958
31 May 2024 31 May 2023
Notes £ £ £ £
CURRENT ASSETS
Investments 4 295 -
295 -
Creditors: Amounts Falling Due Within One Year 5 (10,295 ) (10,000 )
NET CURRENT ASSETS (LIABILITIES) (10,000 ) (10,000 )
TOTAL ASSETS LESS CURRENT LIABILITIES (10,000 ) (10,000 )
NET LIABILITIES (10,000 ) (10,000 )
Income and Expenditure Account (10,000 ) (10,000 )
MEMBERS' FUNDS (10,000) (10,000)
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income and Expenditure Account.
On behalf of the board
Mr Andrew Peter Reed
Director
31/12/2024
The notes on page 2 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Pass It On Productions Ltd is a private company, limited by guarantee, incorporated in England & Wales, registered number 14120958 . The registered office is Croft Cottage, Croft Marsh Lane, Croft, Skegness, PE24 4AR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Current Asset Investments
31 May 2024 31 May 2023
£ £
Other investments, held for sale 295 -
5. Creditors: Amounts Falling Due Within One Year
31 May 2024 31 May 2023
£ £
Other creditors 10,000 -
Other grants - 10,000
Director's loan account 295 -
10,295 10,000
6. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
Page 2