Ipassport Ltd

Ipassport Ltd is a small, active company based in South Kensington, London, UK, established seven years ago in February 2018. With £795,030 in assets and a real registered address, it employs seven people and is managed by three directors, though no owners are officially listed. The company operates in the business and domestic software development industries, and has a real address with only two companies registered at the same address. It’s a irregular importer, with its top import category being Electrical machinery and equipment, totaling 2 months of imports. The last import operation was conducted on December 01, 2023. The company is a regular exporter, with its top export categories including Electrical machinery and equipment, totaling 9 of months exports. The last export operation took place on December 01, 2024.

The company's website, ipassport.global, focuses on "Simplifying the implementation of digital identification," offering solutions for Identity Access Management. It highlights enabling safe, simple, secure, and fast digital identification. The site doesn't appear to be an e-commerce platform, instead presenting itself as a provider of digital identity solutions, targeting businesses and government partners. It’s clear that the company is not selling directly to consumers.

Financially, Ipassport Ltd shows some concerning trends. Current assets have fallen by 37% to £800,000, and net assets have dropped 90% to £370,000. Bank borrowings have increased to £1,100, and cash reserves have decreased by 16% to £350,000. Creditors have plummeted by 60% to £430,000, which is good, but trade debtors have fallen by a significant 71% to £52,000. The company’s small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) helps it stay agile, but the sharp equity drop raises questions. The lack of a mentioned auditor (likely exempt as a small company) means the figures rely on unaudited statements.

The company's financial data suggests it's facing some financial pressures, though the decrease in trade debtors is a positive sign. It's possible the company is reinvesting in growth, but the decline in cash reserves and net assets warrants close monitoring. It’s likely the company is burning through money like a startup, but it’s hard to tell without more information.

Registered in England/Wales under the registration number 11210943, with a registered address at SW7 3SS, England, London, Suite 534 28 Old Brompton Road.

WARNING:The numbers have been rounded for simplicity and may be inaccurate.Please, refer to the latest financial report for verification.