TapTap Giving Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

TapTap Giving Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11323235 . The registered office is 2 Allen Street, London, W8 6BH.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. Therefore the financial statements have been prepared on a going concern basis which assumes the Company will continue in operational existence for the foreseeable future.

The Company is involved in research and development activities and is working towards achieving a sustainable revenue generating activity. The directors have considered the basis of the financial statements and are satisfied that a combination of business growth and further investment commitments will enable the Company to meet its liabilities as they fall due.

2.3. Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	33% Straight line
Computer Equipment	33% Straight line

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.7. Financial Instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

...CONTINUED

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TapTap Giving Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.7. Financial Instruments - continued

Basic financial liabilities, including creditors, are recognised at transaction price including transaction costs.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities.

2.8. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the profit / loss before taxation.

2.9. Taxation

Tax is recognised in profit or loss except that a charge is attributable to an item of income and expense recognised as other comphrehensive income or to an item recognised directly in equity is also recognised in other comphrehensive income or directly in equity respectively.

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

2.10. Employee Benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock of fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2.11. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.12. Research and Development

In the research phase of an internal project, it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives.

If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

2.13. Share Based Payments

The company operates an equity-settled, share-based compensation plan, under which the entity receives services from employees as consideration for equity instruments (options) of the entity. The fair value of the employee services received is measured by reference to the estimated fair value at the grant date of equity instruments granted and is recognised as an expense over the vesting period. The estimated fair value of the option granted is calculated using the Black Scholes option pricing model. The total amount expensed is recognised over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied.

The proceeds received net of any directly attributable transaction costs are credited to share capital (nominal value) and share premium when the options are exercised.

2.14. Convertible Debt

Compound financial instruments issued by the Company comprise convertible loan notes that can be converted to share capital at the option of the holder. The interest on the loan notes is compounding annually and as such the number of shares to be issued will vary with changes in the fair value.

Due to the varying number of shares to be issued the loan notes are treated as liabilities and not split between equity and liabilities. The liability is initially and subsequently measured at fair value, with the fair value movements recognised in the Statement of Comprehensive Income.Transaction costs that relate to the issue of the instrument are expensed to the Statement of Comprehensive Income.

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TapTap Giving Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

3. Average Number of Employees

Average number of employees, including directors, during the year was: 20 (2023: 16)

4. Tangible Assets

	Plant & Machinery	Computer Equipment	Total
	£	£	£
Cost
As at 1 January 2024	2,017	19,636	21,653
Additions	-	5,031	5,031

As at 31 December 2024	2,017	24,667	26,684

Depreciation
As at 1 January 2024	2,017	10,161	12,178
Provided during the period	-	6,537	6,537

As at 31 December 2024	2,017	16,698	18,715

Net Book Value
As at 31 December 2024	-	7,969	7,969

As at 1 January 2024	-	9,475	9,475

5. Stocks

	2024	2023
	£	£
Stock	844	1,801

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	102,832	94,955
Prepayments and accrued income	24,564	29,353
Other debtors	71,452	55,730
Corporation tax recoverable assets	67,582	67,582
VAT	733	403
Amounts owed by subsidiaries	5,151	599

	272,314	248,622

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	16,327	(14,367 )
Convertible loans	455,012	-
Other taxes and social security	33,230	35,980
Other creditors	3,011	182,659
Accruals and deferred income	65,061	78,237
Directors' loan accounts	364	475

	573,005	282,984

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TapTap Giving Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

8. Loans

An analysis of the maturity of loans is given below:

	2024	2023
	£	£
Amounts falling due within one year or on demand:
Other loans	455,012	-

9. Share Capital

	2024	2023
Allotted, called up and fully paid	£	£
4,547,761 Ordinary Shares of £ 0.0001 each	455	403


Shares issued during the period:	£
518,669 Ordinary Shares of £ 0.0001 each	52

On 9th January 2024, 90,494 Ordinary shares of £0.0001 each were allotted and fully paid at a price of £2.21 per share.

On 27th March 2024, 22,200 Ordinary shares of £0.0001 each were allotted and fully paid at a price of £1.9623 per share.

On 4th April 2024, 257,652 Ordinary shares of £0.0001 each were allotted and fully paid at a price of £2.09 per share.

On 5th April 2024, 2,392 Ordinary shares of £0.0001 each were allotted and fully paid at a price of £2.09 per share.

On 9th April 2024, 143,539 Ordinary shares of £0.0001 each were allotted and fully paid at a price of £2.09 per share.

On 10th April 2024, 2,392 Ordinary shares of £0.0001 each were allotted and fully paid at a price of £2.09 per share.

Events afters the End of the Reporting Period

On 2nd April 2025, 148,626 Ordinary shares of £0.0001 each were allotted and fully paid at a price of £3.4278 per share.

On 4th September 2025, 178,866 Ordinary shares of £0.0001 each were allotted and fully paid at a price of £2.679 per share and a further 17,917 Ordinary shares of £0.001 each were allotted and fully paid at a price of £3.3487 per share.

On 26th September 2025, 298,504 Ordinary shares of £0.0001 each were allotted and fully paid at a price of £3.3487 per share.

On 3rd November 2025, 38,005 Ordinary shares of £0.0001 each were allotted and fully paid at a price of £3.3487 per share.

10. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2024	2023
	£	£
Not later than one year	82,350	-

	82,350	-

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		7,969		9,475

			7,969		9,475
CURRENT ASSETS
Stocks	5	844		1,801
Debtors	6	272,314		248,622
Cash at bank and in hand		549,901		574,514

		823,059		824,937
Creditors: Amounts Falling Due Within One Year	7	(573,005 )		(282,984 )

NET CURRENT ASSETS (LIABILITIES)			250,054		541,953

TOTAL ASSETS LESS CURRENT LIABILITIES			258,023		551,428

NET ASSETS			258,023		551,428

CAPITAL AND RESERVES
Called up share capital	9		455		403
Share premium account			5,256,715		4,164,724
Fair value reserve			289,583		196,702
Profit and Loss Account			(5,288,730 )		(3,810,401 )

SHAREHOLDERS' FUNDS			258,023		551,428