Passtime Europe Limited

Passtime Europe Ltd from Portsmouth UK: small company, active status, founded 14 years ago, confirmation overdue 7 months, £13,867 assets, real address, 4 directors, 1 owner. Regular importer of electrical machinery and equipment (3 months imported). It’s a small business, meeting two of three conditions for small company status – turnover under £10.2 million, assets under £5.1 million, and fewer than 50 employees. The company has been active for fourteen years, though confirmation filings are now seven months overdue. It operates from a real address, with four directors and one reported owner, Wassersleben Wilf Ruediger, who also owns the company.

The company's website, passtimeeurope.co.uk, is basic and doesn't offer much insight into its operations. There's no indication of e-commerce or online sales; instead, it appears to be a contact page and a brief description of the business. The company operates in the wholesale of electronic and telecommunications equipment and parts industries. It's a regular importer, with its top import category being Electrical machinery and equipment, totaling 3 months of imports. The last import operation was conducted on November 01, 2016.

Financially, Passtime Europe Ltd’s situation looks a bit concerning. Current assets have plummeted by a significant 46%, dropping to just £14,000. Net assets also took a hit, decreasing by 13% to -£22,000. Bank borrowings have also decreased by 33%, and cash reserves have fallen 36% to £9,000. Creditors have also decreased, which is a positive sign. The company’s small size helps it stay agile, but the sharp decline in equity and assets suggests it's burning through cash. There is no auditor mentioned, likely due to the company's small size and exemption from audit. The accounts are unaudited and rely on director-reported data. The company’s liabilities are also higher than its assets. It's a little worrying, to be honest.

Registered in England/Wales under the registration number 07387256, with a registered address at PO1 2JW, England, Portsmouth, Boom Tower, West Street.

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