Fastpass Corp UK Limited

(Registration number: 03525031)
Balance Sheet as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	503	901
Current assets
Debtors	5	104,267	71,550
Cash at bank and in hand		82,431	35,466
		186,698	107,016
Creditors: Amounts falling due within one year	6	(1,021,354)	(796,124)
Net current liabilities		(834,656)	(689,108)
Total assets less current liabilities		(834,153)	(688,207)
Creditors: Amounts falling due after more than one year	6	-	(6,666)
Net liabilities		(834,153)	(694,873)
Capital and reserves
Called up share capital	7	2	2
Profit and loss account		(834,155)	(694,875)
Total equity		(834,153)	(694,873)

Fastpass Corp UK Limited

(Registration number: 03525031)
Balance Sheet as at 31 December 2025

For the financial year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 19 June 2026
 

A S Meyer

Director

Fastpass Corp UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1	Statutory information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1st Floor
25 King Street
Bristol
BS1 4PB
England

2	Accounting policies

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.

Statement of compliance

These financial statements have been prepared in compliance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

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

Going concern

The financial statements have been prepared on a going concern basis, reflecting current and forecasted work and projections, which management considers sufficient to meet the company’s operational requirements. Management has assessed the company’s ability to meet its liabilities as they fall due over the twelve‑month period from the date of approval of these financial statements and remains confident in the company’s financial resilience.

The company benefits from the ongoing financial support of its parent company. The directors have received confirmation from the parent company that it intends to provide such financial assistance as is necessary to enable the company to meet its obligations as they fall due for at least the next twelve months.

Based on the current projections and the confirmed commitment of the parent company, management anticipates that equity capital will be fully restored within a four‑year period and therefore considers the going concern basis of preparation to remain appropriate.

Fastpass Corp UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts. The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

Tangible fixed assets

Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation.

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Fixtures and fittings	25% on cost
Other property, plant and equipment	25% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank.

Trade debtors

Trade debtors are recognised initially at the transaction price. They are subsequently measured at cost less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity.

Fastpass Corp UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2024 - 3).

Fastpass Corp UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

4	Tangible fixed assets

	Fixtures and fittings £	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 January 2025	11,812	1,766	13,578
At 31 December 2025	11,812	1,766	13,578
Depreciation
At 1 January 2025	11,812	865	12,677
Charge for the year	-	398	398
At 31 December 2025	11,812	1,263	13,075
Carrying amount
At 31 December 2025	-	503	503
At 31 December 2024	-	901	901

Fastpass Corp UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

5	Debtors: amounts falling due within one year

	2025 £	2024 £
Trade debtors	28,018	12,870
Other debtors	1,002	1,002
Prepayments and accrued income	75,247	57,678
	104,267	71,550

6

Creditors

	Note	2025 £	2024 £
Bank loans and overdrafts		7,500	10,000
Trade creditors		675,279	578,522
Amounts owed to group undertakings	8	142,230	55,280
Social security and other taxes		7,945	5,418
VAT		15,129	14,102
Other creditors		257	257
Accruals		8,627	16,081
Deferred income		164,387	116,464
		1,021,354	796,124
Due after one year
Bank loans		-	6,666

The bank loan is the government backed Business Bounce Back Loan, an unsecured loan with a flexible repayment term of 5 years, charged at 2.5% interest.

Fastpass Corp UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

7	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	2	2	2	2

8	Related party transactions

Summary of transactions with parent

FastPass Corp A/S
Owed to group undertakings comprises an outstanding loan balance of £142,230 (2024: £55,280). The loan is interest-free, unsecured, and repayable on demand.

During the year, the company was recharged costs of £95,679 by FastPass Corp A/S (2024: £82,639). At the year end, £674,494 (2024: £577,298) remained outstanding in respect of these recharges. This balance is included within trade creditors (see note 6).