P.A.S.M. Limited Accounts

Laye Finance Ltd






	P.A.S.M. Limited

	Company No. 05293568
	Unaudited Accounts
	31 December 2024


	P.A.S.M. Limited
	Unaudited Financial Statements
	For The Year Ended 31 December 2024


Contents
		Page
Statement of Financial Position		1

Notes to the Financial Statements		2-6

			P.A.S.M. Limited
			Statement of Financial Position
			As At 31 December 2024


at	31 December 2024
Company No.		05293568			2024		2023
				Notes	£	£	£	£
FIXED ASSETS








Tangible Assets				3		-		-

CURRENT ASSETS
Debtors				4	46,761		66,904
Cash at bank and in hand					81,130		31,527

					127,891		98,431

Creditors: Amounts falling due within one year				5	(71,355)		(46,397)

NET CURRENT ASSETS (LIABILITIES)						56,536		52,034

TOTAL ASSETS LESS CURRENT ASSETS LIABILITIES						56,536		52,034

NET ASSETS

CAPITAL AND RESERVES
Called up share capital				6		1		1
Income Statement						56,535		52,033

SHAREHOLDERS' FUNDS						56,536		52,034

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

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.



The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.

On behalf of the board


P.A.S. Motteram - Director



			P.A.S.M. Limited
			Notes to the Financial Statements
			As At 31 December 2024



Accounting Policies

1.1	Basis of preparation

The financial statements are prepared under the historical cost convention and in accordance with provisions applicable with FRS 102 Section 1A Small Entities and in alignment with FRS 105 Micro-entities Regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in UK sterling, which is the financial currency of the entity. Monetary amounts in these financial statements are rounded to the nearest UK pound.

The principle accounting policies adopted are set below.

1.2	Going Concern Disclosure

The director has considered the prospect of the business for the next twelve months and beyond and has arrived at a reasonable expectation the company will continue to meet its obligations as they fall due. The director has also pledged their financial support to assist with this if required. On this basis, the director will continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3	Turnover

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

1.4	Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery 25% Straight line
Computer Equipment 25% Straight line

1.5	Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

1.6	Financial Instruments

The company only enters into basic financial transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from banks and other parties, loans to related parties and investments in non- puttable ordinary shares.

1.7	Cash And Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8	Critical Accounting Judgements And Key Sources of Estimation Uncertainty

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.

The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised.

The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:

Accrued Expenditure

The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers. These provisions are estimated based upon the expected values of the invoices which are issued and services received following the period end.

2.	Employees
					2024			2023
					Number			Number
	The average monthly number of employees (including directors) during the year was:				2			2