Passgo Trading Ltd
Passgo Trading Ltd
Registered number: 04031776
Unaudited Financial Statements
For The Year Ended
31 October 2021
Passgo Trading Ltd
Unaudited Financial Statements
For The Year Ended
31 October 2021
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 2—3 |
| Notes to the Financial Statements | 4—6 |
Passgo Trading Ltd
Balance Sheet
As at
31 October 2021
Balance Sheet
Registered number:
04031776
For the year ending 31 October 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| Investments | 4 |
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| CURRENT ASSETS | |||||
| Stocks | 5 |
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| Debtors | 6 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 7 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 8 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 9 |
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| Revaluation reserve | 10 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 567,353 | 573,991 | |||
Passgo Trading Ltd
Balance Sheet (continued)
As at
31 October 2021
Director's responsibilities
-
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges his 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
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Director
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The notes on pages 4 to 6 form part of these financial statements.
Passgo Trading Ltd
Notes to the Financial Statements
For The Year Ended
31 October 2021
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Research and Development
Expenditure on research and development is written off in the year it is incurred.
1.3.
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 |
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1.4.
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.
1.5.
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.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 1 (2020: 1)
3.
Tangible Assets
| Investment Properties | |
|---|---|
| £ | |
| Cost | |
| As at
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| Additions | 650 |
| As at
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| Net Book Value | |
| As at
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| As at
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Passgo Trading Ltd
Notes to the Financial Statements (continued)
For The Year Ended
31 October 2021
4.
Investments
| Unlisted | |
|---|---|
| £ | |
| Cost | |
| As at
|
706 |
| As at
|
706 |
| Provision | |
| As at
|
- |
| As at
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- |
| Net Book Value | |
| As at
|
706 |
| As at
|
706 |
5.
Stocks
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Work in progress |
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6.
Debtors
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| VAT |
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| Due after more than one year | |||
| Amounts owed by associates |
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Passgo Trading Ltd
Notes to the Financial Statements (continued)
For The Year Ended
31 October 2021
7.
Creditors: Amounts Falling Due Within One Year
| 2021 | 2020 | ||
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| £ | £ | ||
| Bank loans and overdrafts |
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| Accruals and deferred income |
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| Director's loan account |
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8.
Creditors: Amounts Falling Due After More Than One Year
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans |
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10.
Reserves
| Revaluation Reserve | |
|---|---|
| £ | |
| As at
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| As at
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11.
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.