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Registered number: 13343430 (England and Wales)














HOPPSCOTCH LIMITED
UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024


 
HOPPSCOTCH LIMITED
 

 
COMPANY INFORMATION


Directors
L Thomas 
J Jacks 




Registered number
13343430



Registered office
12 New Fetter Lane

London

United Kingdom

EC4A 1JP






 
HOPPSCOTCH LIMITED
 


CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 7



 
HOPPSCOTCH LIMITED
REGISTERED NUMBER:13343430


BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
$
$

Fixed assets
  

Tangible assets
 3 
476
-

Investments
 4 
1,360
1,360

  
1,836
1,360

Current assets
  

Debtors: amounts falling due within one year
 5 
176
2,752

Bank and cash balances
  
1,528,363
2,126,308

  
1,528,539
2,129,060

Creditors: amounts falling due within one year
 6 
(248,604)
(160,726)

Net current assets
  
 
 
1,279,935
 
 
1,968,334

Total assets less current liabilities
  
1,281,771
1,969,694

  

Net assets
  
1,281,771
1,969,694

Page 1


 
HOPPSCOTCH LIMITED
REGISTERED NUMBER:13343430

    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

2024
2023
$
$

Capital and reserves
  

Called up share capital 
 7 
11,990
11,990

Share premium account
  
3,003,227
3,003,227

Profit and loss account
  
(1,733,446)
(1,045,523)

  
1,281,771
1,969,694


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 

L Thomas
Director

Date: 18 November 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2


 
HOPPSCOTCH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
1.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
1.3

Going concern

The directors have considered the available cash and requirements of the Company for a period of at least 12 months, and as such the financial statements have been prepared on the going concern basis.

 
1.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3


 
HOPPSCOTCH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.Accounting policies (continued)

 
1.5

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is USD.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

  
1.6

Intercompany costs

Costs incurred by the subsidiary entity are subject to a cost-plus mark-up of 15% chargable to the Company in line with the intercompany service agreement. The intercompany costs are recognised in the Company in the period they are incurred. 

 
1.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
2 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
1.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 4


 
HOPPSCOTCH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.Accounting policies (continued)

  
1.9

Debtors

Short term debtors are measured at transaction price, less any impairment. 

  
1.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions.

  
1.11

Creditors

Short term creditors are measured at the transaction price. Amounts owed to group undertakings are intercompany loans measured at cost. These loans are unsecured, interest free and repayable on demand.

  
1.12

Share premium

Share premium account represents the excess of the issue price over the par value on shares issued, less transaction costs arising on issue. 


2.


Employees




There were no employees for the Company during the year (2023 - 0). 


3.


Tangible fixed assets





Computer equipment

$



Cost or valuation


Additions
602



At 31 March 2024

602



Depreciation


Charge for the year on owned assets
126



At 31 March 2024

126



Net book value



At 31 March 2024
476



At 31 March 2023
-

Page 5


 
HOPPSCOTCH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Fixed asset investments





Investments in subsidiary companies

$



Cost or valuation


At 1 April 2023
1,360



At 31 March 2024
1,360





5.


Debtors

2024
2023
$
$


Prepayments and accrued income
176
2,752

176
2,752



6.


Creditors: Amounts falling due within one year

2024
2023
$
$

Trade creditors
4,164
12,302

Amounts owed to group undertakings
223,149
139,273

Accruals and deferred income
21,291
9,151

248,604
160,726


Page 6


 
HOPPSCOTCH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Share capital

2024
2023
$
$
Allotted, called up and fully paid



7,500,000 Ordinary shares of £0.001 each
10,580
10,580
1,000,000 Series A shares of £0.001 each
1,410
1,410

11,990

11,990



8.


Related party transactions

During the year, expenses totalling $559,177 (2022: 547,645) were paid by Hoppscotch India Limited, the subsidiary company in which the Company holds a 99% interest, relating to the Company. In accordance with the intercompany services agreement, the subsidiary recharged $643,053 (2022: $629,792) to the Company, on a cost plus 15% basis. As at 31 March 2024, an amount of $223,149 (2022: $139,273) was owed from the Company to Hoppscotch India Limited.


9.


Post balance sheet events

There were no adjusting or non-adjusting events occurring between the end of the reporting period and the date these financial statements were approved. 

Page 7