Registration number:
Loop54 Ltd
for the Year Ended 31 December 2024
Loop54 Ltd
Company Information
Director |
K Collins |
Company secretary |
Goodwille Limited |
Registered office |
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Auditors |
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Loop54 Ltd
(Registration number: 10446599)
Balance Sheet as at 31 December 2024
Note |
2024 |
2023 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
|
Retained earnings |
38,877 |
31,117 |
|
Shareholders' funds |
38,977 |
31,217 |
Approved and authorised by the
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Loop54 Ltd
Notes to the Financial Statements for the Year Ended 31 December 2024
General information |
The Company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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
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
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
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. |
Summary audit opinion |
Audit report
The name of the Senior Statutory Auditor who signed the audit report on
Staff numbers |
The average number of persons employed by the Company (including the director) during the year, was
Debtors |
Note |
2024 |
2023 |
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Trade debtors |
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Amounts owed by Group undertakings and undertakings in which the Company has a participating interest |
- |
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Other debtors |
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Loop54 Ltd
Notes to the Financial Statements for the Year Ended 31 December 2024
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Trade creditors |
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Amounts owed to Group undertakings and undertakings in which the Company has a participating interest |
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Taxation and social security |
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Accruals and deferred income |
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
|
Ordinary shares of £1 each |
100 |
100 |
100 |
100 |
Dividends |
2024 |
2023 |
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£ |
£ |
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Final dividend of £Nil (2023 - £Nil) per ordinary share |
- |
- |
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Parent and ultimate parent undertaking |
The parent of the smallest group in which these financial statements are consolidated is
The address of Loop54 Group is: