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Registered number: 11708436
Hop Financial Solutions Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
TaxAssist Accountants Victoria
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11708436
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,955,718 1,122,838
1,955,718 1,122,838
CURRENT ASSETS
Debtors 5 2,616 2,424
Investments 6 15,435 20,600
Cash at bank and in hand 200,437 502,668
218,488 525,692
Creditors: Amounts Falling Due Within One Year 7 (25,589 ) (46,838 )
NET CURRENT ASSETS (LIABILITIES) 192,899 478,854
TOTAL ASSETS LESS CURRENT LIABILITIES 2,148,617 1,601,692
Creditors: Amounts Falling Due After More Than One Year 8 (558,372 ) (678,519 )
NET ASSETS 1,590,245 923,173
CAPITAL AND RESERVES
Called up share capital 9 11,818 11,590
Share premium account 1,800,865 1,053,446
Profit and Loss Account (222,438 ) (141,863 )
SHAREHOLDERS' FUNDS 1,590,245 923,173
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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 Profit and Loss Account.
On behalf of the board
Mr Mayank Goyal
Director
26/04/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Hop Financial Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11708436 . The registered office is 17 Scholars Place, London, N16 0RF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of .... years.
2.3. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.4. 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.
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. Intangible Assets
Other
£
Cost
As at 1 January 2023 1,122,838
Additions 832,880
As at 31 December 2023 1,955,718
Net Book Value
As at 31 December 2023 1,955,718
As at 1 January 2023 1,122,838
Page 3
Page 4
5. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 79 79
VAT 2,537 2,345
2,616 2,424
6. Current Asset Investments
2023 2022
£ £
Unlisted investments 15,435 20,600
15,435 20,600
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors - 1,972
Bank loans and overdrafts 20,242 29,826
Other taxes and social security 3,997 5,498
Accruals and deferred income 1,350 1,350
Director's loan account - 8,192
25,589 46,838
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Convertable bond 558,372 678,519
558,372 678,519
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 11,818 11,590
Page 4