2024-01-012024-12-312024-12-31false13539311PASSION & POSSIBILITY 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PASSION & POSSIBILITY LIMITED

Registered Number
13539311
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

PASSION & POSSIBILITY LIMITED
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors

Cassi Ozen
Russell Field

Registered Address

57 Cottenham Park Road
London
SW20 0DR

Registered Number

13539311 (England and Wales)
PASSION & POSSIBILITY LIMITED
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investments31,5001,500
1,5001,500
Current assets
Debtors393393
Current asset investments473,944-
Cash at bank and on hand213,526182,247
287,863182,640
Creditors amounts falling due within one year(740)(506)
Net current assets (liabilities)287,123182,134
Total assets less current liabilities288,623183,634
Net assets288,623183,634
Capital and reserves
Called up share capital100100
Revaluation reserve(1,056)-
Profit and loss account289,579183,534
Shareholders' funds288,623183,634
The financial statements were approved and authorised for issue by the Board of Directors on 9 June 2025, and are signed on its behalf by:
Cassi Ozen
Director
Registered Company No. 13539311
PASSION & POSSIBILITY LIMITED
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales, under the Companies Act 2006. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A (Small Entities) and on a historical cost basis except for the revaluation of the company's current asset equity investments. The preparation of financial statements in compliance with FRS 102 Section 1A (Small Entities) may require the use of certain critical accounting estimates. It may also require management to exercise judgement in applying the accounting policies. However, in respect of the particular financial period covered by these financial statements and the previous period the directors do not consider that there were any such significant estimates or judgements required in the preparation of the financial statements. The principal accounting policies, which were applied consistently during the period, are set out below.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Interest income
Interest income is recognised on a receivable basis.
Dividend income
Dividend income from the company's investment in a UK company is recognised when received by the company.
Current taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the period. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the reporting date.
Deferred tax
Deferred tax balances are recognised in respect of all significant timing differences that have originated but not reversed by the balance sheet date, except that the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or future suitable taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of any timing differences.
Investments
The company's investment in a UK private company, which is considered to be an associated company, was measured initially at acquisition at cost and thereafter has been measured at cost less identified impairment losses, if any. The company's current asset equity investments represent investments in investment funds which are revalued to market value at each year end.
Financial instruments
The company's cash at bank and in hand and any other debtor balances and other creditor balances are measured initially at the transaction price, including any transaction costs, and subsequently at amortised cost. Debt instruments that are payable or receivable within one year are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. The company's cash and cash equivalents currently comprise cash at bank (including on deposit) and in hand.
2.Average number of employees
The number stated below is the average number of employees of the company, including the directors, during the relevant period.

20242023
Average number of employees during the year22
3.Fixed asset investments
On 6 August 2021 the company acquired 1,500 ordinary shares in (Ca)nnection Limited, a company incorporated in England, for a total consideration of £1,500. At 31 December 2024 the company has a voting interest of 23% (31 December 2023: 23%) in the investee company.

Total

£
Cost or valuation
At 01 January 241,500
At 31 December 241,500
Net book value
At 31 December 241,500
At 31 December 231,500
4.Current asset investments
The company acquired units at a cost of £75,000 (2023: £nil) in a UK investment fund in the year. At 31 December 2024 the market value of those units was £73,944 (2023: n/a).
5.Events after reporting date
There have been no significant events or transactions subsequent to the balance sheet date requiring disclosure.
6.Related party transactions
At 31 December 2024 creditors include £239 (2023: £6) due to (Ca)nnection Limited, the company's associated undertaking. Any monetary transactions that take place with the directors, member and related undertakings in any period are undertaken under normal market conditions, unless otherwise stated.
7.Parent-subsidiary relationships
The company has no parent or subsidiary undertakings.