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REGISTERED NUMBER: 07978916 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

PASSENGER PLUS LTD

PASSENGER PLUS LTD (REGISTERED NUMBER: 07978916)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PASSENGER PLUS LTD

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: Mr M Drury
Mr K K Hughes





REGISTERED OFFICE: c/o Xeinadin South East Limited
Unit 68 Basepoint
Shearway Business Park
Folkestone
Kent
CT19 4RH





REGISTERED NUMBER: 07978916 (England and Wales)





AUDITORS: Xeinadin South East Limited
19 North Street
Ashford
Kent
TN24 8LF

PASSENGER PLUS LTD (REGISTERED NUMBER: 07978916)

BALANCE SHEET
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,553,118 4,127,061

CURRENT ASSETS
Debtors 5 1,009,358 930,835
Cash at bank 652,016 395,392
1,661,374 1,326,227
CREDITORS
Amounts falling due within one year 6 1,683,832 1,598,075
NET CURRENT LIABILITIES (22,458 ) (271,848 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,530,660

3,855,213

CREDITORS
Amounts falling due after more than
one year

7

(2,761,217

)

(1,498,969

)

PROVISIONS FOR LIABILITIES (256,783 ) (332,677 )
NET ASSETS 2,512,660 2,023,567

CAPITAL AND RESERVES
Called up share capital 199 199
Retained earnings 2,512,461 2,023,368
SHAREHOLDERS' FUNDS 2,512,660 2,023,567

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 14 March 2025 and were signed on its behalf by:





Mr K K Hughes - Director


PASSENGER PLUS LTD (REGISTERED NUMBER: 07978916)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Passenger Plus Ltd 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
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
Motor vehicles - 10% on reducing balance
Computer equipment - 25% on reducing balance

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

PASSENGER PLUS LTD (REGISTERED NUMBER: 07978916)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 62 (2023 - 80 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 24,900 5,920,519 36,659 5,982,078
Additions 3,973 3,023,619 - 3,027,592
Disposals - (1,490,064 ) - (1,490,064 )
At 31 March 2024 28,873 7,454,074 36,659 7,519,606
DEPRECIATION
At 1 April 2023 15,683 1,826,227 13,107 1,855,017
Charge for year 1,979 621,560 5,888 629,427
Eliminated on disposal - (517,956 ) - (517,956 )
At 31 March 2024 17,662 1,929,831 18,995 1,966,488
NET BOOK VALUE
At 31 March 2024 11,211 5,524,243 17,664 5,553,118
At 31 March 2023 9,217 4,094,292 23,552 4,127,061

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 5,895,924
Additions 3,023,619
Disposals (1,490,064 )
At 31 March 2024 7,429,479
DEPRECIATION
At 1 April 2023 1,809,922
Charge for year 620,731
Eliminated on disposal (517,956 )
At 31 March 2024 1,912,697
NET BOOK VALUE
At 31 March 2024 5,516,782
At 31 March 2023 4,086,002

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 969,773 376,869
Other debtors 39,585 553,966
1,009,358 930,835

PASSENGER PLUS LTD (REGISTERED NUMBER: 07978916)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 698,887 1,066,044
Trade creditors 98,593 165,361
Amounts owed to associates 200,000 -
Taxation and social security 79,163 57,909
Other creditors 607,189 308,761
1,683,832 1,598,075

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 2,761,217 1,498,969

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nick Hume (Senior Statutory Auditor)
for and on behalf of Xeinadin South East Limited