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Company Registration No. 11945811 (England and Wales)
Passage Projects Ltd Unaudited accounts for the year ended 30 April 2024
Passage Projects Ltd Unaudited accounts Contents
Page
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Passage Projects Ltd Company Information for the year ended 30 April 2024
Director
Mr Martin Yacine Bouzida
Company Number
11945811 (England and Wales)
Registered Office
Mainyard Studios 80 Ruckholt Road London E10 5UB England
Accountants
Accounts and Legal Consultants Ltd Suite 1-3, The Hop Exchange 24 Southwark Street London SE1 1TY
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Passage Projects Ltd Accountants' report
Accountants' report to the director of Passage Projects Ltd on the preparation of the unaudited statutory accounts for the year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Passage Projects Ltd for the year ended 30 April 2024 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Passage Projects Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Passage Projects Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Passage Projects Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Passage Projects Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Passage Projects Ltd. You consider that Passage Projects Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Passage Projects Ltd. 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 accounts.
Accounts and Legal Consultants Ltd Suite 1-3, The Hop Exchange 24 Southwark Street London SE1 1TY 15 January 2025
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Passage Projects Ltd Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,452 
2,027 
Current assets
Debtors
8,747 
41,010 
Cash at bank and in hand
133,184 
85,855 
141,931 
126,865 
Creditors: amounts falling due within one year
(6,389)
(3,679)
Net current assets
135,542 
123,186 
Total assets less current liabilities
136,994 
125,213 
Creditors: amounts falling due after more than one year
- 
(6,011)
Net assets
136,994 
119,202 
Capital and reserves
Called up share capital
1,000 
1,000 
Profit and loss account
135,994 
118,202 
Shareholders' funds
136,994 
119,202 
For the year ending 30 April 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 24 January 2025 and were signed on its behalf by
Mr Martin Yacine Bouzida Director Company Registration No. 11945811
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Passage Projects Ltd Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
Passage Projects Ltd is a private company, limited by shares, registered in England and Wales, registration number 11945811. The registered office is Mainyard Studios, 80 Ruckholt Road, London, E10 5UB, England.
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 as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Interest Income
Interest income is recognised in profit or loss using the effective interest method.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% Reducing Balance
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivables 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.
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Passage Projects Ltd Notes to the Accounts for the year ended 30 April 2024
Creditors
Short term trade 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.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Taxation
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 May 2023
4,086 
At 30 April 2024
4,086 
Depreciation
At 1 May 2023
2,059 
Charge for the year
575 
At 30 April 2024
2,634 
Net book value
At 30 April 2024
1,452 
At 30 April 2023
2,027 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
20,095 
Accrued income and prepayments
8,747 
19,265 
Other debtors
- 
1,650 
8,747 
41,010 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
337 
2,893 
Trade creditors
- 
(50)
Taxes and social security
4,910 
432 
Other creditors
1,142 
404 
6,389 
3,679 
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Passage Projects Ltd Notes to the Accounts for the year ended 30 April 2024
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Amounts owed to group undertakings and other participating interests
- 
6,011 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000 
1,000 
9
Transactions with related parties
The company has taken advantage of exemption, under the terms of the Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries in the group. At the reporting period end, the following amounts were owed to related parties. These are disclosed in Other Creditors. Passage Projects (SG) £527.05 ( 2023: £6,011 )
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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