ACCOUNTS - Final Accounts preparation

Caseware UK (AP4) 2022.0.179 2022.0.179 2022-10-312022-10-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsetrue2021-11-01falseNo description of principal activity4 13685963 2021-10-31 13685963 2021-11-01 2022-10-31 13685963 2020-11-01 2021-10-31 13685963 2022-10-31 13685963 c:Director3 2021-11-01 2022-10-31 13685963 d:FurnitureFittings 2021-11-01 2022-10-31 13685963 d:FurnitureFittings 2022-10-31 13685963 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-11-01 2022-10-31 13685963 d:CurrentFinancialInstruments 2022-10-31 13685963 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 13685963 d:ShareCapital 2022-10-31 13685963 d:RetainedEarningsAccumulatedLosses 2022-10-31 13685963 c:FRS102 2021-11-01 2022-10-31 13685963 c:AuditExempt-NoAccountantsReport 2021-11-01 2022-10-31 13685963 c:FullAccounts 2021-11-01 2022-10-31 13685963 c:PrivateLimitedCompanyLtd 2021-11-01 2022-10-31 iso4217:GBP xbrli:pure

Registered number: 13685963

PASSION STAYS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2022

PASSION STAYS LIMITED

REGISTERED NUMBER: 13685963

BALANCE SHEET

AS AT 31 OCTOBER 2022

		2022
Note		£

Fixed assets
Tangible assets	4		537
			537
Current assets
Cash at bank and in hand	5	5,964
		5,964
Creditors: amounts falling due within one year	6	(105,386)
Net current (liabilities)/assets			(99,422)
Total assets less current liabilities			(98,885)

Net (liabilities)/assets			(98,885)

Capital and reserves
Called up share capital			2
Profit and loss account			(98,887)
			(98,885)

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 October 2023.

Rebecca Murray

Director

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PASSION STAYS LIMITED

REGISTERED NUMBER: 13685963

BALANCE SHEET (CONTINUED)

AS AT 31 OCTOBER 2022

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

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PASSION STAYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

1.	General information

Passion Stays Limited is a private company limited by shares, registered in the United Kingdom number 13685963. It's registered office is Vale House Landor Building, Vale Street, Bolton, BL2 6QF.
During the year, the principal activity of the company was other letting and operating of own or leased real estate.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

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PASSION STAYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

2.Accounting policies (continued)

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings

20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.5

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 4.

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PASSION STAYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

4.	Tangible fixed assets

		Fixtures and fittings
		£
	Cost or valuation
	Additions	620
	At 31 October 2022	620
	Depreciation
	Charge for the year on owned assets	83
	At 31 October 2022	83
	Net book value
	At 31 October 2022	537

5.	Cash and cash equivalents
		2022
		£

	Cash at bank and in hand	5,964
		5,964

6.	Creditors: Amounts falling due within one year
		2022
		£

	Other creditors	104,186
	Accruals and deferred income	1,200
		105,386

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