Company registration number 07530544 (England and Wales)
PASAPAS UK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
PASAPAS UK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 10
PASAPAS UK LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
-
0
-
0
Tangible assets
4
540
550
Current assets
Debtors
5
798,023
401,735
Cash at bank and in hand
697,631
784,110
1,495,654
1,185,845
Creditors: amounts falling due within one year
6
(888,648)
(644,532)
Net current assets
607,006
541,313
Net assets
607,546
541,863
Capital and reserves
Called up share capital
7
105,560
105,560
Profit and loss reserves
501,986
436,303
Total equity
607,546
541,863

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 23 July 2026 and are signed on its behalf by:
Mr G G Lloyd
Director
Company registration number 07530544 (England and Wales)
PASAPAS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -
1
Accounting policies
Company information

PASaPAS UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is 9 Crossways, London Road, Sunninghill, Berkshire, SL5 0PY.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

PASAPAS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 3 -
1.2
Going concern

Break‑up basis of preparation true

As set out below, the directors have concluded that the financial statements should be prepared on a break‑up (non‑going‑concern) basis.

Decision to transfer the business

On 28 November 2025, the Talan Group Advisory Board formally approved the decision to transfer the operations of the company into Talan UK & Ireland Ltd as part of a wider consolidation of the Group’s UK legal entities. Following this decision, the company is expected to cease trading once all client, supplier and operational activities have been successfully transferred. Subject to the completion of contract novations, the directors currently expect the company to cease trading during Q2 2026.

A detailed transition plan is in place. All employees transferred to Talan UK & Ireland Ltd under TUPE on 1 January 2026. The novation of client and supplier contracts commenced in February 2026, with the objective of completing all novations by the end of Q2 2026. Once all activities have been transferred, the company is expected to become dormant in Q3 2026, after which an application for strike‑off will be made.

Impact on assets, liabilities and provisions

The directors have assessed the implications of the transfer under FRS 102 and concluded the following:

• No impairment of assets is expected as a result of the transfer or planned closure.

• There are no onerous contracts, and all customer and supplier contracts are intended to be novated to Talan UK & Ireland Ltd.

• No provisions are required for closure costs, contract termination, redundancy or other obligations.

• All liabilities are expected to be settled by the company prior to the transfer, as confirmed by Group management.

• No consideration is being paid for the transfer of the business or assets.

Support from the Group

Until the transfer is complete and the company ceases trading, the company will remain active and open solely for the purpose of transferring its affairs to Talan UK & Ireland Ltd. During this period, the company will be financially supported by other Group companies, ensuring that it can meet its obligations, if any, as they fall due. While the Group has indicated its intention to provide support if ever required, no formal support letter has been provided.

Basis of preparation

Given the formal decision to transfer the business and the expected cessation of trade in 2026, the directors consider that the company will not continue in its current form for the foreseeable future. As a result, the financial statements have been prepared on a break‑up (non‑going‑concern) basis. Under this basis, assets and liabilities have been measured in accordance with the requirements of FRS 102 for entities that are not expected to continue as a going concern.

PASAPAS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -
1.3
Revenue

Turnover

Turnover is recognised at the fair value of the consideration receivable for services provided in the normal course of business, net of VAT.

The company generates revenue from the following key service streams:

• On‑demand services

• SAP maintenance

• Hosting and managed services

• SAP licences

• SAP subscriptions

General revenue‑recognition principles

Where services are provided over a period of time and it is possible to reliably estimate the costs to complete or determine the proportion of costs of work performed at the reporting date, revenue is recognised based on the stage of completion, to the extent that the costs incurred are expected to be recoverable.

Where a service spans a fixed contractual period and the pattern of service delivery is evenly spread, revenue is recognised on a straight‑line basis over the term of the customer contract.

Occasionally, where services are unlimited in nature, have no defined service period, and where costs to year‑end and costs to complete cannot be reliably determined—making the stage of completion impossible to measure—revenue is recognised as the service is delivered, which is treated as the point at which risks and rewards transfer to the customer.
Turnover a mounts relating to future periods are deferred, where relevant to the specific revenue stream.

Revenue by service stream

On‑demand services

Revenue is recognised as the services are delivered. Where the service is provided over a fixed period, revenue is recognised on a straight‑line basis over that period.

SAP maintenance

Revenue is recognised on a straight‑line basis over the term of the maintenance contract, with amounts relating to future periods deferred where appropriate.

Hosting and managed services

Revenue is recognised as the services are delivered. Where the service is provided over a fixed period, revenue is recognised on a straight‑line basis over that period.

SAP licences

Revenue is recognised in full in the period in which the licence is delivered to the customer for licences with no defined service period. Where the licence relates to a fixed service period, revenue is recognised on a straight‑line basis over that period.

SAP subscriptions

Revenue is recognised on a straight‑line basis over the term of the subscription contract.

PASAPAS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 5 -
1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website
33% on cost
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer and office equipment
33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Recoverable amount is the higher of fair value less costs to sell and value in use. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss.

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
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet 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.

PASAPAS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 6 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price, less any impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Liabilities payable in over one year, including group loans, are measured at amortised cost using the effective interest rate method.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

PASAPAS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 7 -
1.11
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 employee’s services are received.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
7
7
3
Intangible fixed assets
Website
£
Cost
At 1 January 2025 and 31 December 2025
3,931
Amortisation and impairment
At 1 January 2025 and 31 December 2025
3,931
Carrying amount
At 31 December 2025
-
0
At 31 December 2024
-
0
PASAPAS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2025
8,393
Additions
407
Disposals
(627)
At 31 December 2025
8,173
Depreciation and impairment
At 1 January 2025
7,843
Depreciation charged in the year
417
Eliminated in respect of disposals
(627)
At 31 December 2025
7,633
Carrying amount
At 31 December 2025
540
At 31 December 2024
550
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
794,725
399,929
Other debtors
3,298
1,806
798,023
401,735
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
231,949
18,823
Amounts owed to group undertakings
7,743
6,636
Corporation tax
30,169
21,339
Other taxation and social security
119,277
86,536
Other creditors
29,493
29,424
Accruals and deferred income
470,017
481,774
888,648
644,532

PASAPAS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 9 -
7
Called up share capital
2025
2024
£
£
Ordinary share capital
Authorised
105,560 Ordinary of £1 each
105,560
105,560
Allotted, issued and fully paid
105,560 Ordinary of £1 each
105,560
105,560
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Emphasis of matter

In forming our opinion on the financial statements, which remains unqualified, we have considered the adequacy of the disclosures in note 1.2 relating to the company’s ability to continue as a going concern and the post‑balance‑sheet event.

The directors have stated that the company is expected to close voluntarily during 2026.

Until that time, the company is expected to remain active and open while its affairs are transferred to another group company. The Group has indicated that it would provide financial support if required. However, no formal letter of support is in place. Accordingly, the financial statements have been prepared on a non‑going‑concern basis. Further information is provided in note 1.2.

Our opinion is not modified in respect of this matter.

Senior Statutory Auditor:
Izabela Kuchmacz
Statutory Auditor:
Ward Williams Limited
Date of audit report:
23 July 2026
9
Related party transactions

The company has taken advantage of the exemption available under FRS 102 paragraph 33.1A, which permits qualifying group undertakings not to disclose transactions with other members of the group.

10
Parent company
PASAPAS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
10
Parent company
(Continued)
- 10 -

The immediate parent company is PASàPAS-KPF, a company registered in Paris, France under number 494 752 470.

The ultimate parent undertaking and controlling party is Talan Holding, a company registered in Paris, under number 887 633 733.

Talan Holding is the parent undertaking of the smallest and largest group to consolidate these financial statements.

11
Prior year restatement

Reclassification of Wages

Wages of £476,864, Employer NI of £42,978, and Employer Pension contributions of £7,595 have been reclassified to correct the prior year’s misclassification from administrative expenses to direct costs in line with their underlying nature.

2025-12-31 2025-01-01 false false false 23 July 2026 CCH Software CCH Accounts Production 2026.100 The principal activity of the company continued to be that of software support and consulting.
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