Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2024-01-01falseNo description of principal activity11truetrue 05273932 2024-01-01 2024-12-31 05273932 2023-01-01 2023-12-31 05273932 2024-12-31 05273932 2023-12-31 05273932 c:CompanySecretary1 2024-01-01 2024-12-31 05273932 c:Director1 2024-01-01 2024-12-31 05273932 c:RegisteredOffice 2024-01-01 2024-12-31 05273932 d:PlantMachinery 2024-01-01 2024-12-31 05273932 d:PlantMachinery 2024-12-31 05273932 d:PlantMachinery 2023-12-31 05273932 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 05273932 d:OfficeEquipment 2024-01-01 2024-12-31 05273932 d:OfficeEquipment 2024-12-31 05273932 d:OfficeEquipment 2023-12-31 05273932 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 05273932 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 05273932 d:Goodwill 2024-01-01 2024-12-31 05273932 d:Goodwill 2024-12-31 05273932 d:Goodwill 2023-12-31 05273932 d:CurrentFinancialInstruments 2024-12-31 05273932 d:CurrentFinancialInstruments 2023-12-31 05273932 d:Non-currentFinancialInstruments 2024-12-31 05273932 d:Non-currentFinancialInstruments 2023-12-31 05273932 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 05273932 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 05273932 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 05273932 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 05273932 d:ShareCapital 2024-12-31 05273932 d:ShareCapital 2023-12-31 05273932 d:RetainedEarningsAccumulatedLosses 2024-12-31 05273932 d:RetainedEarningsAccumulatedLosses 2023-12-31 05273932 c:FRS102 2024-01-01 2024-12-31 05273932 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 05273932 c:FullAccounts 2024-01-01 2024-12-31 05273932 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05273932 2 2024-01-01 2024-12-31 05273932 d:Goodwill d:OwnedIntangibleAssets 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure
Company registration number: 05273932







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024


PASSINGHAM ASSOCIATES LIMITED






































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PASSINGHAM ASSOCIATES LIMITED
 


 
COMPANY INFORMATION


Director
Mr N Passingham 




Company secretary
Mrs A Passingham



Registered number
05273932



Registered office
3000a Parkway

Whiteley

Hampshire

PO15 7FX




Trading Address
42 Kingswood Rise
Four Marks

Alton

Hampshire

GU34 5BD






Accountants
Menzies LLP
Chartered Accountants

3000a Parkway

Whiteley

Hampshire

PO15 7FX





 


PASSINGHAM ASSOCIATES LIMITED
REGISTERED NUMBER:05273932



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
1,325

Tangible assets
 5 
2,584
1,444

  
2,584
2,769

Current assets
  

Debtors: amounts falling due within one year
 6 
72,917
60,179

Cash at bank and in hand
  
65,394
111,515

  
138,311
171,694

Creditors: amounts falling due within one year
 7 
(62,590)
(74,296)

Net current assets
  
 
 
75,721
 
 
97,398

Total assets less current liabilities
  
78,305
100,167

Creditors: amounts falling due after more than one year
 8 
(12,046)
(16,030)

Provisions for liabilities
  

Deferred tax
  
(647)
(362)

  
 
 
(647)
 
 
(362)

Net assets
  
65,612
83,775

Page 1

 


PASSINGHAM ASSOCIATES LIMITED
REGISTERED NUMBER:05273932


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

2024
2023
£
£

Capital and reserves
  

Called up share capital 
  
101
101

Profit and loss account
  
65,511
83,674

  
65,612
83,775


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr N Passingham
Director

Date: 10 July 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 


PASSINGHAM ASSOCIATES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Passingham Associates Limited is a private company limited by shares, registered in England and Wales. 
The trading address of the company is 42 Kingswood Rise, Four Marks, Alton, Hampshire, GU34 5BD.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 


PASSINGHAM ASSOCIATES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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 other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 4

 


PASSINGHAM ASSOCIATES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Amortisation

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
20
years

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
33%
straight line
Office equipment
-
20%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable 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.

 
2.11

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.

Page 5

 


PASSINGHAM ASSOCIATES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.12

Creditors

Short-term 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.

 
2.13

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 6

 


PASSINGHAM ASSOCIATES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 January 2024
31,770



At 31 December 2024

31,770



Amortisation


At 1 January 2024
30,446


Charge for the year on owned assets
1,324



At 31 December 2024

31,770



Net book value



At 31 December 2024
-



At 31 December 2023
1,325




5.


Tangible fixed assets





Plant and machinery
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2024
-
15,431
15,431


Additions
999
871
1,870



At 31 December 2024

999
16,302
17,301



Depreciation


At 1 January 2024
-
13,987
13,987


Charge for the year on owned assets
114
616
730



At 31 December 2024

114
14,603
14,717



Net book value



At 31 December 2024
885
1,699
2,584



At 31 December 2023
-
1,444
1,444

Page 7

 


PASSINGHAM ASSOCIATES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Debtors

2024
2023
£
£


Trade debtors
64,088
57,721

Other debtors
6,752
495

Prepayments and accrued income
2,077
1,963

72,917
60,179



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
451
-

Bank loans
2,727
8,137

Trade creditors
22,308
10,923

Corporation tax
32,141
32,231

Other taxation and social security
-
19,645

Other creditors
2,733
1,240

Accruals and deferred income
2,230
2,120

62,590
74,296



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
12,046
16,030

12,046
16,030


 
Page 8