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Registered number: 13465831
Hopon Mobility (UK) Limited
Financial Statements
For The Year Ended 31 December 2023
Financial Statements
Contents
Page
Company Information 1
Statement of Financial Position 2—3
Notes to the Financial Statements 4—8
Page 1
Company Information
Director A Rosenzweig
Company Number 13465831
Registered Office Church House
Church Lane
Kings Langley
WD4 8JP
Accountants Sterling Accounting Solutions Ltd
Chartered Accountants
SAS House
Chipperfield Road
Kings Langley
Hertfordshire
WD4 9JB
Auditors SAS Audit Limited
SAS House
Chipperfield Road
Kings Langley
Hertfordshire
WD4 9JB
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Statement of Financial Position
Registered number: 13465831
2023 2022
Notes £ £ £ £
FIXED ASSETS
Investments 4 5,394,338 5,092,424
5,394,338 5,092,424
CURRENT ASSETS
Debtors 5 1,882 1
Cash at bank and in hand 69,278 107,890
71,160 107,891
Creditors: Amounts Falling Due Within One Year 6 (1,034,938 ) (768,024 )
NET CURRENT ASSETS (LIABILITIES) (963,778 ) (660,133 )
TOTAL ASSETS LESS CURRENT LIABILITIES 4,430,560 4,432,291
Creditors: Amounts Falling Due After More Than One Year 7 (4,436,199 ) (4,436,200 )
NET LIABILITIES (5,639 ) (3,909 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Income Statement (5,640 ) (3,910 )
SHAREHOLDERS' FUNDS (5,639) (3,909)
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These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
A Rosenzweig
Director
14/08/2024
The notes on pages 4 to 8 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Hopon Mobility (UK) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13465831 . The registered office is Church House, Church Lane, Kings Langley, WD4 8JP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
2.2. Going Concern Disclosure
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the forsseable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
The directors have received assurances that HopOn Mobility Limited intends to continue its financial support to the company for at least 12 months from the date of signing.
2.3. Significant judgements and estimations
In the application of the company's accounting policies, the director is required to make judgements, estimates, and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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2.4. Financial Instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost. Where investments in nonconvertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss.
All other such investments are subsequently measured at cost less impairment. Other financial nstruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. 
Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.5. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Investments
Subsidiaries
£
Cost
As at 1 January 2023 5,092,424
Additions 301,914
As at 31 December 2023 5,394,338
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 5,394,338
As at 1 January 2023 5,092,424
5. Debtors
2023 2022
£ £
Due within one year
Deferred tax current asset 1,882 -
Amounts owed by group undertakings - 1
1,882 1
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6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Other creditors 1,030,138 766,224
Accruals and deferred income 4,800 1,800
1,034,938 768,024
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Amounts owed to group undertakings 4,436,199 4,436,200
4,436,199 4,436,200
8. Share Capital
2023 2022
Allotted, called up and fully paid £ £
1 Ordinary Shares of £ 1.00 each 1 1
9. Related Party Transactions
At the year end date, a balance of £1,030,138 (2022: £766,224) was owed to ECR Solutions Limited, a subsidary of Hopon Mobility (UK) Limited. The balance is included in other creditors.
At the year end date, a balance of £4,436,199 (2022: £4,436,200) was owed to Hopon Mobility Limited, the parent company of Hopon Mobility (UK) Limited. The balance is included within amounts owed to group undertakings in more than one year.
10. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
11. Ultimate Controlling Party
The ultimate parent company is Hopon Mobility Limited, a company registered in Israel. There is no ultimate controlling party.
Hopon Mobility (UK) Limited is a wholly owned subsidiary of Hopon Mobility Limited which prepares consolidated accounts including this company.
The registered office of Hopon Mobility Limited is Ramat Gan HaYetsira 3, 5252141, Tel Aviv, Israel.
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12. Audit Information
The auditors report on the account of Hopon Mobility (UK) Limited for the year ended 31 December 2023 was unqualified
The auditor's report was signed by Khushil Gokani ACA (Senior Statutory Auditor) for and on behalf of SAS Audit Limited , Statutory Auditor
SAS Audit Limited
SAS House
Chipperfield Road
Kings Langley
Hertfordshire
WD4 9JB
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