Registration number: 15329537

Passerelle Ltd

(Registration number: 15329537)

Balance Sheet as at 31 December 2025

	Note	2025 £	2024 £
Current assets
Other financial assets	3	6,554,519	5,431,315
Cash at bank and in hand		1,072,743	1,581,125
		7,627,262	7,012,440
Creditors: Amounts falling due within one year	4	(7,002,226)	(7,010,454)
Total assets less current liabilities		625,036	1,986
Provisions for liabilities		(115,697)	-
Net assets		509,339	1,986
Capital and reserves
Called up share capital		1	1
Retained earnings		509,338	1,985
Shareholders' funds		509,339	1,986

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.

Directors' 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 directors acknowledge 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 delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 24 March 2026 and signed on its behalf by:
 

.........................................

A Ford

Director

Passerelle Ltd

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

1	Accounting policies

Statutory information

Passerelle Ltd is a private company, limited by shares, domiciled in England and Wales, company number 15329537. The registered office is at Pegasus House, 463a Glossop Road, Sheffield, S10 2QD.

Summary of significant accounting policies and key accounting estimates

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, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - '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 except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Revenue recognition

Turnover represents the income arising from investment activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Passerelle Ltd

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

1	Accounting policies (continued)

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.

2	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

3	Other financial assets (current and non-current)

	Financial assets at fair value through profit and loss £
Current financial assets
Cost or valuation
At 1 January 2025	5,431,315
Additions	4,809,025
Disposals	(4,200,788)
Fair value adjustments	514,967
At 31 December 2025	6,554,519
Carrying amount
At 31 December 2025	6,554,519
At 31 December 2024	5,431,315