Passgo Trading Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 04031776

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Investment Properties	4		814,863		814,863
Investments	5		706		706

			815,569		815,569
CURRENT ASSETS
Stocks	6	76,907		42,479
Debtors	7	-		292,790
Cash at bank and in hand		2,264		4,268

		79,171		339,537
Creditors: Amounts Falling Due Within One Year	8	(96,768 )		(30,030 )

NET CURRENT ASSETS (LIABILITIES)			(17,597 )		309,507

TOTAL ASSETS LESS CURRENT LIABILITIES			797,972		1,125,076

Creditors: Amounts Falling Due After More Than One Year	9		(571,216 )		(572,861 )

NET ASSETS			226,756		552,215

CAPITAL AND RESERVES
Called up share capital	10		1,000		1,000
Revaluation reserve	11		481,271		481,271
Profit and Loss Account			(255,515 )		69,944

SHAREHOLDERS' FUNDS			226,756		552,215

Page 1

Page 2

Passgo Trading Ltd

Balance Sheet (continued)

As At 31 October 2025

For the year ending 31 October 2025 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 her 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

Mrs Diana Phipps

Director

28 July 2026

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Passgo Trading Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04031776 . The registered office is 55 Redshank Road, St. Marys Island, Chatham, ME4 3RE.

2. Accounting Policies

2.1. 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.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. 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:

Fixtures & Fittings

4 years straight line

2.4. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2024: 1)

4. Investment Property

	2025
	£
Fair Value
As at 1 November 2024 and 31 October 2025	814,863

Page 3

Page 4

Passgo Trading Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

5. Investments

	Unlisted
	£
Cost or Valuation
As at 1 November 2024	706

As at 31 October 2025	706

Provision
As at 1 November 2024	-

As at 31 October 2025	-

Net Book Value
As at 31 October 2025	706

As at 1 November 2024	706

6. Stocks

	2025	2024
	£	£
Work in progress	76,907	42,479

7. Debtors

	2025	2024
	£	£
Due within one year
Other debtors	-	1,965
Due after more than one year
Amounts owed by participating interests	-	290,825

	-	292,790

Included within debtors at the balance sheet date is an amount due from iGo Labs Ltd (company number 10851781), a company connected to Passgo Trading Ltd by virtue of common control. Based on conditions and indicators of impairment existing at the balance sheet date, the directors recognised a full impairment provision against this debt of £290,825, which is reflected within administrative expenses in the profit and loss account.

Page 4

Page 5

Passgo Trading Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Bank loans and overdrafts	1,644	1,623
Other creditors	92,389	28,407
Taxation and social security	2,735	-

	96,768	30,030

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	571,216	572,861

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	1,000	1,000

11. Reserves

	Revaluation reserve	Profit and Loss Account
	£	£
As at 1 November 2024	481,271	69,944
Loss for the year and total comprehensive income	-	(325,459 )

As at 31 October 2025	481,271	(255,515 )