Passenger Limited

Contents
	Page
Balance Sheet	1
Notes to the Financial Statements	2—3

Registered number: 03295887

		2024		2023
	Notes	£	£	£	£
CURRENT ASSETS
Debtors	3	25,912		18,878
Cash at bank and in hand		7,622		9,192

		33,534		28,070
Creditors: Amounts Falling Due Within One Year	4	(26,937 )		(25,473 )

NET CURRENT ASSETS (LIABILITIES)			6,597		2,597

TOTAL ASSETS LESS CURRENT LIABILITIES			6,597		2,597

NET ASSETS			6,597		2,597

CAPITAL AND RESERVES
Called up share capital	5		100		100
Profit and Loss Account			6,497		2,497

SHAREHOLDERS' FUNDS			6,597		2,597

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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

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 Profit and Loss Account.

On behalf of the board

Mr Kieron Bailey

Director

10th October 2025

The notes on pages 2 to 3 form part of these financial statements.

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

1.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

1.3. Taxation

Income tax expense represents the sum of the tax currently payable.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

2. Average Number of Employees

Average number of employees, including directors, during the year was as follows: 3 (2023: 3)

3. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	1,630	822
Other debtors - Sky High Music Ltd	499	295
Corporation tax recoverable assets	6,001	6,003
Directors' loan accounts	17,782	11,758

	25,912	18,878

4. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	-	100
Corporation tax	1,289	4,109
Accrual & Deferred income	25,648	21,264

	26,937	25,473

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Passenger Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

6. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 January 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2024
	£	£	£	£	£
Mr Kieron Bailey	2,953	5,474	(2,500 )	-	5,927
Mr Brent Dewstow-Newitt	4,010	4,507	(2,590 )	-	5,927
Mr David Graham Wallace	4,795	4,614	(3,482 )	-	5,927

The above loan is unsecured, interest free and repayable on demand.

7. General Information

Passenger Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03295887 . The registered office is Park House, 10 Park Street, Bristol, BS1 5HX.

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