REGISTERED NUMBER: 02631536 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Loop1 UK Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

W Fitzpatrick

SECRETARY:

Mrs D Bailey

REGISTERED OFFICE:

201 Cirencester Business Park Love Lane

Cirencester

GL7 1XD

REGISTERED NUMBER:

02631536 (England and Wales)

FIXED ASSETS

Tangible assets

4

8,020

8,551

CURRENT ASSETS

Debtors

5

5,130,675

4,618,430

Cash at bank

479,880

462,186

5,610,555

5,080,616

CREDITORS

Amounts falling due within one year

6

2,655,133

2,232,625

NET CURRENT ASSETS

2,955,422

2,847,991

TOTAL ASSETS LESS CURRENT LIABILITIES

2,963,442

2,856,542

CREDITORS

Amounts falling due after more than one year

7

70,550

120,293

NET ASSETS

2,892,892

2,736,249

CAPITAL AND RESERVES

Called up share capital

1,053

1,053

Share premium

14,947

14,947

Retained earnings

2,876,892

2,720,249

2,892,892

2,736,249

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 September 2025 and were signed by:

W Fitzpatrick - Director

1.	STATUTORY INFORMATION

Loop1 UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on straight line basis

Fixtures and fittings

-

25% on straight line basis

Computer equipment

-

33% on straight line basis

Taxation

Taxation for the year comprises current and deferred 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 or deferred 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 17 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2024

43,107

81,471

309,054

433,632

Additions

-

3,321

828

4,149

At 31 December 2024

43,107

84,792

309,882

437,781

DEPRECIATION

At 1 January 2024

43,107

81,471

300,503

425,081

Charge for year

-

536

4,144

4,680

At 31 December 2024

43,107

82,007

304,647

429,761

NET BOOK VALUE

At 31 December 2024

-

2,785

5,235

8,020

At 31 December 2023

-

-

8,551

8,551

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,293,992

962,677

Amounts owed by group undertakings

3,640,908

3,474,810

Prepayments and accrued income

195,775

180,943

5,130,675

4,618,430

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

49,800

49,800

Trade creditors

1,400,360

928,833

Tax

1,485

211,990

Social security and other taxes

32,769

34,250

VAT

70,916

108,159

Other creditors

68,194

68,050

Accrued expenses

1,031,609

831,543

2,655,133

2,232,625

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

70,550

120,293

8.	RELATED PARTY DISCLOSURES

Included in debtors is £691,663 (2023 - £818,254) owed to the company by Loop1 Itom Solutions Ltd, an Irish company owned by Loop1 International Ltd, which is a subsidiary of Loop1 LLC owned by William Fitzpatrick.

Included in debtors is £1,659,008 (2023 - £1,149,393) owed to the company by Loop1 (Pvt) Ltd, a Sri Lankan company which is a subsidiary of Loop1 LLC.

Included in other debtors is £24,261 (2023 - £24,261) owed to the company by Loop1 Singapore PTE. Ltd, a company based in Singapore which is a subsidiary of Loop1 LLC.

Included in other debtors is £98,409 (2023 - £98,409) owed to the company by Loop1 GmbH & Co. KG, a German company which is a subsidiary of Loop1 LLC.