| Passage Properties Ltd |
| Registered number: |
00942104 |
| Balance Sheet |
| as at 31 December 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Property, plant & equipment |
3 |
|
|
2,900,933 |
|
|
2,876,032 |
| Investment in subsidiary |
|
|
|
75 |
|
|
75 |
|
|
|
|
2,901,008 |
|
|
2,876,107 |
|
| Current assets |
| Debtors |
4 |
|
51,245 |
|
|
62,843 |
| Cash at bank and in hand |
|
|
68,561 |
|
|
89,396 |
|
|
|
119,806 |
|
|
152,239 |
|
| Creditors: amounts falling due within one year |
5 |
|
(226,603) |
|
|
(219,416) |
|
| Net current liabilities |
|
|
|
(106,797) |
|
|
(67,177) |
|
| Total assets less current liabilities |
|
|
|
2,794,211 |
|
|
2,808,930 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(230,821) |
|
|
(338,497) |
|
|
|
| Net assets |
|
|
|
2,563,390 |
|
|
2,470,433 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
8,240 |
|
|
8,240 |
| Capital redemption reserve |
|
|
|
7,760 |
|
|
7,760 |
| Profit and loss account |
|
|
|
2,547,390 |
|
|
2,454,433 |
|
| Shareholders' funds |
|
|
|
2,563,390 |
|
|
2,470,433 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
| N Segal |
| Director |
| Approved by the board on 5 August 2026 |
|
| Passage Properties Ltd |
| Notes to the Accounts |
| for the year ended 31 December 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1A small entities. |
|
Turnover |
|
Turnover comprises rent receivable and property management. |
|
Tangible fixed assets |
|
Depreciation is not provided on the freehold buildings, since the value of these assets is expected to increase over time. |
|
Depreciation on motor vehicles is provided at 20% on the straight line method. |
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Where profits are reduced by means of group relief, the tax charge is calculated on the lower figure. |
|
Group accounts |
|
The company is exempt under s399(2A) of the Companies Act 2006 from the requirements to prepare consolidated accounts as the group is a small group. |
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
5 |
|
4 |
|
|
|
|
|
|
|
|
|
| 3 |
Property, plant & equipment |
|
|
Investment properties |
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
| £ |
£ |
£ |
£ |
|
Cost |
|
At 1 January 2025 |
2,780,409 |
|
47,458 |
|
49,090 |
|
2,876,957 |
|
Additions |
- |
|
30,758 |
|
14,000 |
|
44,758 |
|
Disposals |
- |
|
- |
|
- |
|
- |
|
At 31 December 2025 |
2,780,409 |
|
78,216 |
|
63,090 |
|
2,921,715 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2025 |
- |
|
594 |
|
331 |
|
925 |
|
Charge for the year |
- |
|
6,539 |
|
13,318 |
|
19,857 |
|
On disposals |
- |
|
- |
|
- |
|
- |
|
At 31 December 2025 |
- |
|
7,133 |
|
13,649 |
|
20,782 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2025 |
2,780,409 |
|
71,083 |
|
49,441 |
|
2,900,933 |
|
At 31 December 2024 |
2,780,409 |
|
46,864 |
|
48,759 |
|
2,876,032 |
|
| 4 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade debtors |
19,114 |
|
12,506 |
|
Other debtors |
32,131 |
|
50,337 |
|
|
|
|
|
|
51,245 |
|
62,843 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade creditors |
26,216 |
|
25,939 |
|
Corporation tax |
3,107 |
|
11,239 |
|
Other taxes and social security costs |
20,992 |
|
20,378 |
|
Other creditors |
176,288 |
|
161,860 |
|
|
|
|
|
|
226,603 |
|
219,416 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loan |
230,821 |
|
338,497 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Loans |
2025 |
|
2024 |
| £ |
£ |
|
Creditors include: |
|
|
Secured bank loans |
339,186 |
|
338,497 |
|
|
|
|
|
|
|
|
|
|
The bank loan is secured on the properties. |
|
|
| 8 |
Other information |
|
|
Passage Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
106 Islington High Street |
|
London |
|
N1 0EG |