2023-01-012023-12-312023-12-31false09281067Hiperpool Ltd2025-01-30falseiso4217:GBPxbrli:pure092810672023-01-01092810672023-12-31092810672023-01-012023-12-31092810672022-01-01092810672022-12-31092810672022-01-012022-12-3109281067bus:SmallEntities2023-01-012023-12-3109281067bus:AuditExempt-NoAccountantsReport2023-01-012023-12-3109281067bus:FullAccounts2023-01-012023-12-3109281067bus:PrivateLimitedCompanyLtd2023-01-012023-12-3109281067core:WithinOneYear2023-12-3109281067core:AfterOneYear2023-12-3109281067core:WithinOneYear2022-12-3109281067core:AfterOneYear2022-12-3109281067core:ShareCapital2023-12-3109281067core:SharePremium2023-12-3109281067core:RevaluationReserve2023-12-3109281067core:OtherReservesSubtotal2023-12-3109281067core:RetainedEarningsAccumulatedLosses2023-12-3109281067core:ShareCapital2022-12-3109281067core:SharePremium2022-12-3109281067core:RevaluationReserve2022-12-3109281067core:OtherReservesSubtotal2022-12-3109281067core:RetainedEarningsAccumulatedLosses2022-12-3109281067core:LandBuildings2023-12-3109281067core:PlantMachinery2023-12-3109281067core:Vehicles2023-12-3109281067core:FurnitureFittings2023-12-3109281067core:OfficeEquipment2023-12-3109281067core:NetGoodwill2023-12-3109281067core:IntangibleAssetsOtherThanGoodwill2023-12-3109281067core:ListedExchangeTraded2023-12-3109281067core:UnlistedNon-exchangeTraded2023-12-3109281067core:LandBuildings2022-12-3109281067core:PlantMachinery2022-12-3109281067core:Vehicles2022-12-3109281067core:FurnitureFittings2022-12-3109281067core:OfficeEquipment2022-12-3109281067core:NetGoodwill2022-12-3109281067core:IntangibleAssetsOtherThanGoodwill2022-12-3109281067core:ListedExchangeTraded2022-12-3109281067core:UnlistedNon-exchangeTraded2022-12-3109281067core:LandBuildings2023-01-012023-12-3109281067core:PlantMachinery2023-01-012023-12-3109281067core:Vehicles2023-01-012023-12-3109281067core:FurnitureFittings2023-01-012023-12-3109281067core:OfficeEquipment2023-01-012023-12-3109281067core:NetGoodwill2023-01-012023-12-3109281067core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3109281067core:ListedExchangeTraded2023-01-012023-12-3109281067core:UnlistedNon-exchangeTraded2023-01-012023-12-3109281067core:MoreThanFiveYears2023-01-012023-12-3109281067core:Non-currentFinancialInstruments2023-12-3109281067core:Non-currentFinancialInstruments2022-12-3109281067dpl:CostSales2023-01-012023-12-3109281067dpl:DistributionCosts2023-01-012023-12-3109281067core:LandBuildings2023-01-012023-12-3109281067core:PlantMachinery2023-01-012023-12-3109281067core:Vehicles2023-01-012023-12-3109281067core:FurnitureFittings2023-01-012023-12-3109281067core:OfficeEquipment2023-01-012023-12-3109281067dpl:AdministrativeExpenses2023-01-012023-12-3109281067core:NetGoodwill2023-01-012023-12-3109281067core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3109281067dpl:GroupUndertakings2023-01-012023-12-3109281067dpl:ParticipatingInterests2023-01-012023-12-3109281067dpl:GroupUndertakingscore:ListedExchangeTraded2023-01-012023-12-3109281067core:ListedExchangeTraded2023-01-012023-12-3109281067dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-01-012023-12-3109281067core:UnlistedNon-exchangeTraded2023-01-012023-12-3109281067dpl:CostSales2022-01-012022-12-3109281067dpl:DistributionCosts2022-01-012022-12-3109281067core:LandBuildings2022-01-012022-12-3109281067core:PlantMachinery2022-01-012022-12-3109281067core:Vehicles2022-01-012022-12-3109281067core:FurnitureFittings2022-01-012022-12-3109281067core:OfficeEquipment2022-01-012022-12-3109281067dpl:AdministrativeExpenses2022-01-012022-12-3109281067core:NetGoodwill2022-01-012022-12-3109281067core:IntangibleAssetsOtherThanGoodwill2022-01-012022-12-3109281067dpl:GroupUndertakings2022-01-012022-12-3109281067dpl:ParticipatingInterests2022-01-012022-12-3109281067dpl:GroupUndertakingscore:ListedExchangeTraded2022-01-012022-12-3109281067core:ListedExchangeTraded2022-01-012022-12-3109281067dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-01-012022-12-3109281067core:UnlistedNon-exchangeTraded2022-01-012022-12-3109281067core:NetGoodwill2023-12-3109281067core:IntangibleAssetsOtherThanGoodwill2023-12-3109281067core:LandBuildings2023-12-3109281067core:PlantMachinery2023-12-3109281067core:Vehicles2023-12-3109281067core:FurnitureFittings2023-12-3109281067core:OfficeEquipment2023-12-3109281067core:AfterOneYear2023-12-3109281067core:WithinOneYear2023-12-3109281067core:ListedExchangeTraded2023-12-3109281067core:UnlistedNon-exchangeTraded2023-12-3109281067core:ShareCapital2023-12-3109281067core:SharePremium2023-12-3109281067core:RevaluationReserve2023-12-3109281067core:OtherReservesSubtotal2023-12-3109281067core:RetainedEarningsAccumulatedLosses2023-12-3109281067core:NetGoodwill2022-12-3109281067core:IntangibleAssetsOtherThanGoodwill2022-12-3109281067core:LandBuildings2022-12-3109281067core:PlantMachinery2022-12-3109281067core:Vehicles2022-12-3109281067core:FurnitureFittings2022-12-3109281067core:OfficeEquipment2022-12-3109281067core:AfterOneYear2022-12-3109281067core:WithinOneYear2022-12-3109281067core:ListedExchangeTraded2022-12-3109281067core:UnlistedNon-exchangeTraded2022-12-3109281067core:ShareCapital2022-12-3109281067core:SharePremium2022-12-3109281067core:RevaluationReserve2022-12-3109281067core:OtherReservesSubtotal2022-12-3109281067core:RetainedEarningsAccumulatedLosses2022-12-3109281067core:NetGoodwill2022-01-0109281067core:IntangibleAssetsOtherThanGoodwill2022-01-0109281067core:LandBuildings2022-01-0109281067core:PlantMachinery2022-01-0109281067core:Vehicles2022-01-0109281067core:FurnitureFittings2022-01-0109281067core:OfficeEquipment2022-01-0109281067core:AfterOneYear2022-01-0109281067core:WithinOneYear2022-01-0109281067core:ListedExchangeTraded2022-01-0109281067core:UnlistedNon-exchangeTraded2022-01-0109281067core:ShareCapital2022-01-0109281067core:SharePremium2022-01-0109281067core:RevaluationReserve2022-01-0109281067core:OtherReservesSubtotal2022-01-0109281067core:RetainedEarningsAccumulatedLosses2022-01-0109281067core:AfterOneYear2023-01-012023-12-3109281067core:WithinOneYear2023-01-012023-12-3109281067core:Non-currentFinancialInstrumentscore:CostValuation2023-01-012023-12-3109281067core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-01-012023-12-3109281067core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-01-012023-12-3109281067core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-01-012023-12-3109281067core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-01-012023-12-3109281067core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-01-012023-12-3109281067core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-01-012023-12-3109281067core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-01-012023-12-3109281067core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-01-012023-12-3109281067core:Non-currentFinancialInstrumentscore:CostValuation2023-12-3109281067core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-12-3109281067core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-12-3109281067core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-12-3109281067core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-12-3109281067core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-12-3109281067core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-12-3109281067core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-12-3109281067core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-12-3109281067core:Non-currentFinancialInstrumentscore:CostValuation2022-12-3109281067core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2022-12-3109281067core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2022-12-3109281067core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2022-12-3109281067core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-12-3109281067core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2022-12-3109281067core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2022-12-3109281067core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2022-12-3109281067core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2022-12-3109281067bus:Director12023-01-012023-12-310928106712023-01-012023-12-31

Hiperpool Ltd

Registered Number
09281067
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

Hiperpool Ltd
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

M El Rafei

Registered Address

Flat 3 13 Cranley Gardens
London
SW7 3BB

Registered Number

09281067 (England and Wales)
Hiperpool Ltd
Statement of Financial Position
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets511,64712,767
Investments611
11,64812,768
Current assets
Debtors7607,931660,160
Cash at bank and on hand5,24218,687
613,173678,847
Creditors amounts falling due within one year8(1,194,047)(1,124,313)
Net current assets (liabilities)(580,874)(445,466)
Total assets less current liabilities(569,226)(432,698)
Net assets(569,226)(432,698)
Capital and reserves
Called up share capital2,4242,394
Share premium200,170194,205
Other reserves39,23539,235
Profit and loss account(811,055)(668,532)
Shareholders' funds(569,226)(432,698)
The financial statements were approved and authorised for issue by the Director on 30 January 2025, and are signed on its behalf by:
M El Rafei
Director
Registered Company No. 09281067
Hiperpool Ltd
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
Hiperpool Ltd is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
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.
Basis of preparation
The financial statements have been prepared under the historical cost convention.
Functional and presentation currency
The financial statements are presented in pound sterling (£), which is the company’s functional currency, and figures are rounded to the nearest whole pound.
Going concern
The financial statements have been prepared on the going concern basis. The company incurred losses during the year, however the directors believe that the company has sufficient financial resources to be able to meet its obligations, if and when, they become due, and that the company can continue in operational existence for a period of at least 12 months from the statement of financial position date. On this basis, the directors are of the opinion that they should continue to adopt the going concern basis in preparing the annual financial statements.
Judgements and key sources of estimation uncertainty
Share based payments as set out in the note below have been made to employees and advisors of the company. The fair value of any vested share options is recognised in the income statement. The fair value of share options is estimated using the Black Scholes model. The fair value of the ordinary shares in issue at the date of granting the options is used as an input to the model. There have been no significant judgements or estimates applied to the numbers contained within these financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the transaction providing that; the amount of revenue associated with the transaction can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company, the stage of completion of the transaction can be measured reliably and the costs incurred or to be incurred in respect of completing the transaction can be measured reliably.
Interest income
Interest income is recognised using the effective interest rate method.
Operating leases
Rentals payable under operating leases are charged to the income statement on a straight-line basis over the period of the lease.
Employee benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to Income Statement in the period to which they relate.
Share-based payments
The company operates an equity-settled compensation plan. The fair value of the services received in exchange for the grant of options is recognised as an expense in the income statement. The total amount to be expensed over the vesting period is determined by the reference to the fair value of the options granted, excluding the impact of any non-market vesting conditions (for example, profitability and sales growth targets). Non-market vesting conditions are included in assumptions about the number of options that are expected to vest. At each statement of position date, the entity revises its estimates of the number of options that are expected to vest. It recognises the impact of the revision to original estimates, if any, in the income statement. The credit entry is taken to reserves because the share options are equity settled.
Foreign currency translation
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each reporting 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 the period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the income statement.
Current taxation
Taxation for the year comprises current 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 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 statement of financial position date.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. The company's Intangible assets consist of Trademarks which are being amortised evenly over their estimated useful life of 5 years.
Tangible fixed assets and depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Straight line (years)
Office Equipment3
Investments
Investments in subsidiary undertakings are recognised at cost.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and demand deposits and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk to changes in value.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments. The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non puttable ordinary shares. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently,at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out right short term loan not at market rate, the financial asset or liability is measured, initially,at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.Staff Costs
The company operates an EMI-qualifying share option scheme. As at the Statement of Financial Position date, the company had granted 1,342,095 EMI qualifying share options to employees of the company with an average weighted exercise price of £0.02 per share. As at the year-end 313,630 share options had lapsed (2022: 313,630), 701,184 share options had vested and were exercisable (2022: 598,028), 327,281 share options had yet to vest (2022: 430,437). Share options vest over 4 years from the date of grant with a 1-year cliff. An amount of £6,504 has been charged to the income statement in respect of the above share options (2022: £23,765).
3.Average number of employees

20232022
Average number of employees during the year1617
4.Intangible assets

Other

Total

££
Cost or valuation
At 01 January 23170170
At 31 December 23170170
Amortisation and impairment
At 01 January 23170170
At 31 December 23170170
Net book value
At 31 December 23--
At 31 December 22--
5.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 January 2331,83131,831
Additions5,5725,572
At 31 December 2337,40337,403
Depreciation and impairment
At 01 January 2319,06419,064
Charge for year6,6926,692
At 31 December 2325,75625,756
Net book value
At 31 December 2311,64711,647
At 31 December 2212,76712,767
6.Fixed asset investments
Subsidiary undertakings Hiperpool Ltd owns 100% of the common stock within Hiperpool US Inc.

Investments in groups1

Total

££
Cost or valuation
At 01 January 2311
At 31 December 2311
Net book value
At 31 December 2311
At 31 December 2211

Notes

1Investments in group undertakings and participating interests
7.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables607,931-
Amounts owed by group undertakings-636,461
Other debtors-20,325
Prepayments and accrued income-3,374
Total607,931660,160
8.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables127,42896,350
Bank borrowings and overdrafts-11
Amounts owed to related parties29,659-
Taxation and social security253,188410,471
Other creditors783,772484,074
Accrued liabilities and deferred income-133,407
Total1,194,0471,124,313
The company is party to a debenture with JLR Star Limited as lender which includes fixed and floating charges over all the assets and undertakings of the company in connection with a loan facility provided to the company by the lender. The debenture was created on 20 March 2020 and remained outstanding at the year end. But was satified in full on 26 June 2024.
9.Operating lease commitments
Minimum future payments under non-cancellable operating lease agreements fall due as follows: Within 1 year : £86,024 (2022: £86,024)
10.Events after reporting date
On 11 June 2024 the company issued 11,851,043 Ordinary shares of £0.0001 each at a price of £0.0645 per share. On 5 September 2023 a debenture containing fixed and floating charges over all the property and undertaking of the company was resgitered at Companies House in connection with a convertible loan entered into with a third party, this charge has been satisfied in full on 26 June 2024.
11.Related party transactions
Transactions with director During the year the director made advances to the company totalling £202,532 (2022: £1,900) and received repayments from the company totalling £15,055 (2022: £86,900). At the statement of financial position date, the company owed the director £282,829 (2022: £95,352). The loans are unsecured, interest free and repayable on demand.
12.Parent-subsidiary relationships
The financial statements contain information about Hiperpool Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.