Company registration number 14309056 (England and Wales)
PASSA HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
PASSA HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
PASSA HOLDINGS LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
120,542
120,443
Current assets
Debtors
-
0
2,262
Cash at bank and in hand
16,128
19,460
16,128
21,722
Creditors: amounts falling due within one year
4
(183,714)
(151,804)
Net current liabilities
(167,586)
(130,082)
Net liabilities
(47,044)
(9,639)
Capital and reserves
Called up share capital
3
3
Profit and loss reserves
(47,047)
(9,642)
Total equity
(47,044)
(9,639)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 16 April 2025 and are signed on its behalf by:
Ms SDP Dionisi
Director
Company registration number 14309056 (England and Wales)
PASSA HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -
1
Accounting policies
Company information

Passa Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 143 Stafford Road, Wallington, Surrey, SM6 9BN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

The company has net liabilities of £47,044 at the year end. However, a substantial portion of funding, amounting to £180,000 is provided by the related party. The directors of the company have assured that the related party will support the company in fulfilling its obligations for at least twelve months from the date of approval of these financial statements. For this reason, the directors continue to adopt the going concern basis in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
PASSA HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
3
Investment property
2024
£
Fair value
At 1 September 2023
120,443
Additions
99
At 31 August 2024
120,542

The above disclosed investment property is shown at the most recent valuation. The directors confirmed that there has been no change in fair value recorded throughout the year after the acquisition of the property.

4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,034
724
Other creditors
182,680
151,080
183,714
151,804
5
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due to related parties
£
£
Entities with common controlling shareholders and directors
180,000
150,000

Included in the other creditors is the above amount owed to related entities with some common shareholders and directors. The outstanding balance is unsecured, interest free and repayable on demand.

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