IRIS Accounts Production v24.3.2.46 02218234 Board of Directors 1.5.23 30.4.24 30.4.24 false true false false true false Fair value model A Ordinary 1.00000 B Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh022182342023-04-30022182342024-04-30022182342023-05-012024-04-30022182342022-04-30022182342022-05-012023-04-30022182342023-04-3002218234ns15:EnglandWales2023-05-012024-04-3002218234ns14:PoundSterling2023-05-012024-04-3002218234ns10:Director12023-05-012024-04-3002218234ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3002218234ns10:SmallEntities2023-05-012024-04-3002218234ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-3002218234ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3002218234ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3002218234ns10:FullAccounts2023-05-012024-04-3002218234ns10:OrdinaryShareClass22023-05-012024-04-3002218234ns10:OrdinaryShareClass32023-05-012024-04-3002218234ns10:Director22023-05-012024-04-3002218234ns10:CompanySecretary12023-05-012024-04-3002218234ns10:RegisteredOffice2023-05-012024-04-3002218234ns5:CurrentFinancialInstruments2024-04-3002218234ns5:CurrentFinancialInstruments2023-04-3002218234ns5:Non-currentFinancialInstruments2024-04-3002218234ns5:Non-currentFinancialInstruments2023-04-3002218234ns5:ShareCapital2024-04-3002218234ns5:ShareCapital2023-04-3002218234ns5:RevaluationReserve2024-04-3002218234ns5:RevaluationReserve2023-04-3002218234ns5:RetainedEarningsAccumulatedLosses2024-04-3002218234ns5:RetainedEarningsAccumulatedLosses2023-04-3002218234ns5:PlantMachinery2023-05-012024-04-3002218234ns5:FurnitureFittings2023-05-012024-04-3002218234ns5:MotorVehicles2023-05-012024-04-3002218234ns5:PlantMachinery2023-04-3002218234ns5:FurnitureFittings2023-04-3002218234ns5:MotorVehicles2023-04-3002218234ns5:PlantMachinery2024-04-3002218234ns5:FurnitureFittings2024-04-3002218234ns5:MotorVehicles2024-04-3002218234ns5:PlantMachinery2023-04-3002218234ns5:FurnitureFittings2023-04-3002218234ns5:MotorVehicles2023-04-3002218234ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-04-3002218234ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-05-012024-04-3002218234ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-04-3002218234ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-04-3002218234ns5:WithinOneYearns5:CurrentFinancialInstruments2024-04-3002218234ns5:WithinOneYearns5:CurrentFinancialInstruments2023-04-3002218234ns10:OrdinaryShareClass22024-04-3002218234ns10:OrdinaryShareClass32024-04-30
REGISTERED NUMBER: 02218234 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2024

FOR

PASSWISH LIMITED

PASSWISH LIMITED (REGISTERED NUMBER: 02218234)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PASSWISH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH APRIL 2024







DIRECTORS: Mrs C J Hart
R C Hart





SECRETARY: Mrs C J Hart





REGISTERED OFFICE: 2 Greetby Place
Skelmersdale
WN8 9UL





REGISTERED NUMBER: 02218234 (England and Wales)





ACCOUNTANTS: Ryans
Chartered Accountants
67 Chorley Old Road
Bolton
BL1 3AJ

PASSWISH LIMITED (REGISTERED NUMBER: 02218234)

BALANCE SHEET
30TH APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 59,209 77,828
Investment property 5 1,468,330 1,468,330
1,527,539 1,546,158

CURRENT ASSETS
Debtors 6 6,869 1,983
Cash at bank and in hand 2,733 24,153
9,602 26,136
CREDITORS
Amounts falling due within one year 7 123,966 149,062
NET CURRENT LIABILITIES (114,364 ) (122,926 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,413,175

1,423,232

CREDITORS
Amounts falling due after more than one year 8 (159,210 ) (186,348 )

PROVISIONS FOR LIABILITIES (11,250 ) (20,549 )
NET ASSETS 1,242,715 1,216,335

CAPITAL AND RESERVES
Called up share capital 10 100 100
Property reserve 192,282 192,282
Retained earnings 1,050,333 1,023,953
SHAREHOLDERS' FUNDS 1,242,715 1,216,335

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PASSWISH LIMITED (REGISTERED NUMBER: 02218234)

BALANCE SHEET - continued
30TH APRIL 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30th January 2025 and were signed on its behalf by:





R C Hart - Director


PASSWISH LIMITED (REGISTERED NUMBER: 02218234)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024

1. STATUTORY INFORMATION

Passwish Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents income from asset rentals stated net of value added tax.

Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

PASSWISH LIMITED (REGISTERED NUMBER: 02218234)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1st May 2023
and 30th April 2024 15,038 20,000 107,214 142,252
DEPRECIATION
At 1st May 2023 14,203 12,457 37,764 64,424
Charge for year 125 1,131 17,363 18,619
At 30th April 2024 14,328 13,588 55,127 83,043
NET BOOK VALUE
At 30th April 2024 710 6,412 52,087 59,209
At 30th April 2023 835 7,543 69,450 77,828

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st May 2023
and 30th April 2024 107,214
DEPRECIATION
At 1st May 2023 37,764
Charge for year 17,363
At 30th April 2024 55,127
NET BOOK VALUE
At 30th April 2024 52,087
At 30th April 2023 69,450

PASSWISH LIMITED (REGISTERED NUMBER: 02218234)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st May 2023
and 30th April 2024 1,468,330
NET BOOK VALUE
At 30th April 2024 1,468,330
At 30th April 2023 1,468,330

Fair value at 30th April 2024 is represented by:
£   
Valuation in 2015 192,282
Cost 1,276,048
1,468,330

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 200
Other debtors 6,869 1,783
6,869 1,983

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 16,122 15,546
Hire purchase contracts 11,020 11,020
Trade creditors 130 674
Taxation and social security 12,145 13,282
Other creditors 84,549 108,540
123,966 149,062

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 107,849 123,967
Hire purchase contracts 51,361 62,381
159,210 186,348

PASSWISH LIMITED (REGISTERED NUMBER: 02218234)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans 56,101 73,989

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 62,381 73,401

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
85 A Ordinary £1 85 85
15 B Ordinary £1 15 15
100 100

11. ULTIMATE CONTROLLING PARTY

The company is controlled by its directors who have a beneficial interest in the majority of the issued share capital.