PASSPORT365 LIMITED

Executive Summary

PASSPORT365 LIMITED is a young, private software development company demonstrating steady growth in net assets and working capital, indicative of sound financial health within the competitive business and domestic software sector. While not a market leader, its investment in intangible assets and stable equity position provide a solid foundation to capitalize on ongoing digital transformation trends. The company’s lean size and private status afford agility but also impose scalability challenges amid a rapidly evolving and talent-sensitive industry landscape.

PASSPORT365 LIMITED - Analysis Report

Company Number: 13169538

Analysis Date: 2025-07-20 12:16 UTC

1. Industry Classification
   PASSPORT365 LIMITED operates in the "Business and domestic software development" sector, classified under SIC code 62012. This sector typically involves designing, developing, and maintaining software solutions for business applications and domestic use, often emphasizing innovation, intellectual property, and technology-driven services. Key characteristics include rapid product development cycles, significant investment in intangible assets (such as software development costs), and a competitive landscape dominated by both established firms and agile startups. Companies in this sector often face challenges related to talent acquisition, evolving client requirements, and maintaining technological relevance.

2. Relative Performance
   PASSPORT365 LIMITED, incorporated in 2021, is a relatively young private limited company within this sector. Its financials reflect a small to medium-sized software development enterprise, with net assets growing from £87.8k in 2020 to £126.7k at the end of 2024, indicating consistent balance sheet strengthening. The company maintains a healthy net current asset position (£91.3k in 2024), which suggests effective working capital management. Its fixed assets are modest (£36.7k), predominantly intangible assets related to software development, aligning with industry norms where capital expenditure is typically lower than in hardware-focused sectors. The increase in share premium and share capital through new share issues demonstrates ongoing capital injection, likely supporting growth and R&D. Compared to typical peers, the company’s turnover and profit figures are undisclosed, but asset growth and equity position suggest stable financial footing relative to early-stage sector benchmarks.

3. Sector Trends Impact
   The business and domestic software development sector is currently influenced by several key trends: increased demand for cloud-based solutions, growing emphasis on cybersecurity, and digital transformation initiatives across industries. The sector also faces talent shortages and competitive pressure from global software providers. For PASSPORT365 LIMITED, its focus on software development positions it to benefit from digital adoption trends, but it must continuously innovate to keep pace with rapid technological changes. The relatively small scale and private ownership may enhance agility but could limit resources compared to larger competitors. Additionally, economic uncertainties and inflationary pressures in the UK could impact client budgets and project pipelines, requiring careful financial and operational management.

4. Competitive Positioning
   PASSPORT365 LIMITED appears to be a niche player or emerging contender rather than a market leader, given its size, age, and financial scale. Its strengths include a stable equity base, positive working capital, and investment in intangible assets critical to software development. These factors enable product development and potential scalability. However, the absence of detailed revenue or profitability data limits full assessment. The company’s reliance on a relatively small team (12 employees in 2024) suggests a lean operation, which may be advantageous for flexibility but could constrain delivery capacity against larger competitors. Its location outside major tech hubs might reduce operational costs but poses challenges for attracting top talent. Governance stability is indicated by a consistent board, although some director resignations occurred recently. Overall, PASSPORT365 LIMITED is positioned as a small but growing software developer navigating a competitive and fast-evolving market.