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REGISTERED NUMBER: 13641262 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

LOOPIT MOBILITY LTD

LOOPIT MOBILITY LTD (REGISTERED NUMBER: 13641262)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LOOPIT MOBILITY LTD

COMPANY INFORMATION
for the Year Ended 30 June 2023







DIRECTORS: A P J Mortimer
P J Higgins
M J Higgins





REGISTERED OFFICE: 10 John Street
London
WC1N 2EB





REGISTERED NUMBER: 13641262 (England and Wales)





ACCOUNTANTS: Oury Clark Chartered Accountants
Herschel House
58 Herschel Street
Slough
Berkshire
SL1 1PG

LOOPIT MOBILITY LTD (REGISTERED NUMBER: 13641262)

BALANCE SHEET
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,866 3,043

CURRENT ASSETS
Debtors 5 16,984 23,216
Cash at bank 56,611 8,826
73,595 32,042
CREDITORS
Amounts falling due within one year 6 518,900 186,427
NET CURRENT LIABILITIES (445,305 ) (154,385 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(443,439

)

(151,342

)

RESERVES
Retained earnings (443,439 ) (151,342 )
SHAREHOLDERS' FUNDS (443,439 ) (151,342 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 November 2023 and were signed on its behalf by:



P J Higgins - Director


LOOPIT MOBILITY LTD (REGISTERED NUMBER: 13641262)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Loopit Mobility Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on the going concern basis. The company is in a start up phase and the parent company, Loopit Holdings PTY Ltd, has confirmed its support for at least 12 months and 1 day from the approval of these financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised when risks and rewards are transferred to the customer. It is recognised for the use of the platform and is invoiced in arrears.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

LOOPIT MOBILITY LTD (REGISTERED NUMBER: 13641262)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Basic Financial Instruments, as covered by Section 11 of FRS 102, are measured at amortised cost. The company does not have any Other Financial Instruments, as covered by Section 12 of FRS 102.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022
and 30 June 2023 3,532
DEPRECIATION
At 1 July 2022 489
Charge for year 1,177
At 30 June 2023 1,666
NET BOOK VALUE
At 30 June 2023 1,866
At 30 June 2022 3,043

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 10,600 -
Other debtors 6,384 23,216
16,984 23,216

LOOPIT MOBILITY LTD (REGISTERED NUMBER: 13641262)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors 9,126 54,110
Amounts owed to group undertakings 498,692 130,817
Taxation and social security 970 -
Other creditors & accruals 10,112 1,500
518,900 186,427

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
1 Ordinary £0.01 - -

8. ULTIMATE CONTROLLING PARTY

There is no Ultimate Controlling Party.

9. ULTIMATE PARENT COMPANY

The Ultimate Parent Company is Loopit Holdings Pty Ltd, by virtue of their 100% shareholding in Loopit Mobility UK Ltd.