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Registration number: 10446599

Loop54 Ltd

Filleted Financial Statements

for the Year Ended 31 December 2024

 

Loop54 Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

Loop54 Ltd

Company Information

Director

K Collins

Company secretary

Goodwille Limited

Registered office

1 Chapel Street
Warwick
Warwickshire
CV34 4HL

Auditors

Bourner Bullock Chartered Accountants
114 St Martin's Lane
Covent Garden
London
WC2N 4BE

 

Loop54 Ltd

(Registration number: 10446599)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Current assets

 

Debtors

6

97,786

211,893

Cash at bank and in hand

 

108,151

65,326

 

205,937

277,219

Creditors: Amounts falling due within one year

7

(166,960)

(246,002)

Net assets

 

38,977

31,217

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

38,877

31,117

Shareholders' funds

 

38,977

31,217

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 21 May 2025
 

.........................................
K Collins
Director

   
     
 

Loop54 Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Chapel Street
Warwick
Warwickshire
CV34 4HL
United Kingdom

Principal activity

The principal activity of the Company is that of providing eCommerce personalisation technology.

These financial statements were authorised for issue by the director on 21 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company has net assets. The company is dependent on the support from the shareholders to continue as a going concern.

The financial statements have been prepared on a going concern basis that assumes further funding will be obtained.

Turnover recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.

 

Loop54 Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

Financial instruments

Classification
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to/from related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet 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.

 

Debtors

Basic financial assets, including trade and other debtors, are intially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call 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 of change in value.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Loop54 Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

3

Significant judgements and key sources of estimation uncertainty

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

4

Summary audit opinion

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 21 May 2025 was David Wheeler, who signed for and on behalf of Bourner Bullock.

5

Staff numbers

The average number of persons employed by the Company (including the director) during the year, was 0 (2023 - 0).

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

95,299

129,371

Amounts owed by Group undertakings and undertakings in which the Company has a participating interest

-

77,253

Other debtors

 

2,487

5,269

 

97,786

211,893

 

Loop54 Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

1,109

544

Amounts owed to Group undertakings and undertakings in which the Company has a participating interest

97,714

198,341

Taxation and social security

 

8,465

5,902

Accruals and deferred income

 

59,672

41,215

 

166,960

246,002

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

9

Dividends

2024

2023

£

£

Final dividend of £Nil (2023 - £Nil) per ordinary share

-

-

 

 

10

Parent and ultimate parent undertaking

The parent of the smallest group in which these financial statements are consolidated is Loop54 Group, incorporated in Sweden.

The address of Loop54 Group is:
Barnhusgatan 20, 111 23 Stockholm, Sweden