Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mr G W Herbert 22/06/2018 Mrs F E Holliday 16/09/2021 MR G J Karolus 28/03/2024 08/02/2017 Mr R Snyders 22/06/2018 26 September 2024 The principal activity of the Company is that of sourcing and directing funding to support insurance companies in the developing world.

Leapfrog Labs is the knowledge sharing and innovation hub of LeapFrog Investments, a pioneer of profit with purpose investing across Asia and Africa. Labs delivers high impact projects and strategic programmes that accelerate impact and innovation across LeapFrog's portfolio companies. Labs utilises grant funding and technical assistance to support innovative projects and catalyse new opportunities. To date, Labs has delivered 60+ projects that have generated outstanding value for money. Labs has also commenced on the development of a multi-year Talent Accelerator programme to address the common learning and developmental issues across LeapFrog's portfolio companies.
SC367846 2023-12-31 SC367846 bus:Director1 2023-12-31 SC367846 bus:Director2 2023-12-31 SC367846 bus:Director3 2023-12-31 SC367846 bus:Director4 2023-12-31 SC367846 core:CurrentFinancialInstruments 2023-12-31 SC367846 core:CurrentFinancialInstruments 2022-12-31 SC367846 2022-12-31 SC367846 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC367846 core:RetainedEarningsAccumulatedLosses 2022-12-31 SC367846 2023-01-01 2023-12-31 SC367846 bus:FilletedAccounts 2023-01-01 2023-12-31 SC367846 bus:SmallEntities 2023-01-01 2023-12-31 SC367846 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 SC367846 bus:CompanyLimitedByGuarantee 2023-01-01 2023-12-31 SC367846 bus:Director1 2023-01-01 2023-12-31 SC367846 bus:Director2 2023-01-01 2023-12-31 SC367846 bus:Director3 2023-01-01 2023-12-31 SC367846 bus:Director4 2023-01-01 2023-12-31 SC367846 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Company No: SC367846 (Scotland)

LEAPFROG LABS LIMITED

(A COMPANY LIMITED BY GUARANTEE)

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

LEAPFROG LABS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023

Contents

LEAPFROG LABS LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2023
LEAPFROG LABS LIMITED

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2023
2023 2022
£ £
Current assets
Debtors 3 107,164 241,105
Cash at bank and in hand 44,824 95,769
151,988 336,874
Creditors: amounts falling due within one year 4 ( 1,660,848) ( 1,758,478)
Net current liabilities (1,508,860) (1,421,604)
Total assets less current liabilities (1,508,860) (1,421,604)
Net liabilities ( 1,508,860) ( 1,421,604)
Reserves
Profit and loss account ( 1,508,860 ) ( 1,421,604 )
Total reserves ( 1,508,860) ( 1,421,604)

For the financial 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.

Directors' responsibilities:

The financial statements of LeapFrog Labs Limited (registered number: SC367846) were approved and authorised for issue by the Board of Directors on 26 September 2024. They were signed on its behalf by:

Mr R Snyders
Director
LEAPFROG LABS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
LEAPFROG LABS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

LeapFrog Labs Limited (A Company Limited by Guarantee) is a private company, limited by guarantee, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 2nd Floor North Saltire Court, 20 Castle Terrace, Edinburgh, EH1 2EN, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The company has net liabilities at 31 December 2023. Having considered planned future project activity, donor commitments, and the ongoing support of the sole member, Leapfrog Investments Platform Ltd, and the wider group, the directors are satisfied that it remains appropriate to prepare the accounts on a going concern basis.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise.

Turnover

Turnover represents the amounts receivable for the funding of projects. Turnover is recognised when funding conditions are met, such as when funded costs are incurred.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies are recognised at transaction price.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities and are due within one year.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, excluding directors 0 0

3. Debtors

2023 2022
£ £
Trade debtors 106,411 241,105
Other debtors 753 0
107,164 241,105

4. Creditors: amounts falling due within one year

2023 2022
£ £
Bank overdrafts 0 108
Trade creditors 201 5,888
Other creditors 1,660,647 1,752,482
1,660,848 1,758,478

5. Liability of members

The members of the LeapFrog Labs Limited have undertaken to contribute a sum not exceeding £1 each to meet the liabilities of the Company if it should be wound up.

6. Related party transactions

Other related party transactions

As at 31 December 2023 £1,319,778 (2022, £1,361,458) included within other creditors was due to companies under common control. These amounts are repayable on demand and are interest free.

No guarantees have been given or received in relation to these amounts.