Littlepay Mobility Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 12842372 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

LITTLEPAY MOBILITY LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S B Gallagher

C D O Jillings

A Shayan

N J Mills

SECRETARY:

ICM Administration Limited

REGISTERED OFFICE:

Ridgecourt

The Ridge

Epsom

Surrey

KT18 7EP

REGISTERED NUMBER:

12842372 (England and Wales)

AUDITORS:

Lewis Brownlee (Chichester) Limited

Chartered Accountants

Statutory Auditors

Appledram Barns

Birdham Road

Chichester

West Sussex

PO20 7EQ

FIXED ASSETS

Investments

4

7,171,701

1,522,078

CURRENT ASSETS

Debtors

5

42,956

4,394,148

CREDITORS

Amounts falling due within one year

6

1,395,267

10,001

NET CURRENT (LIABILITIES)/ASSETS

(1,352,311

)

4,384,147

TOTAL ASSETS LESS CURRENT LIABILITIES

5,819,390

5,906,225

CAPITAL AND RESERVES

Called up share capital

86,733

86,600

Share premium

5,506,416

5,503,674

Share option reserve

268,160

231,262

Retained earnings

(41,919

)

84,689

5,819,390

5,906,225

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 Board of Directors and authorised for issue on 28 March 2024 and were signed on its behalf by:

A Shayan - Director

1.	STATUTORY INFORMATION

Littlepay Mobility Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

Monetary amounts in these financial statements are rounded to the nearest whole £1.

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.

Going concern

The financial statements have been prepared on a going concern basis.

The company and other group companies place reliance on support from the wider group. The company has a loan facility of £5m available from the wider group to support cashflow in the Littlepay Group, where required. At the date of signing the financial statements, roughly two thirds of the loan facility was still available.

At the time of approving the financial statements, the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Preparation of consolidated financial statements

The financial statements contain information about Littlepay Mobility 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Investments in subsidiaries

Investment in subsidiary undertakings are recognised at cost, including capitalised loan contributions.

Financial instruments

Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method, unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

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.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Share-based payments

Certain employees of Littlepay Pty Ltd and Littlepay Ltd, subsidiaries of Littlepay Mobility Ltd, were awarded share options within a group share option scheme. Compensation expense is recognised in the relevant subsidiary's accounts over the vesting period based on the number of awards expected to vest, and is identified in the share option reserve account in Littlepay Mobility Ltd.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 July 2022

1,522,078

Additions

5,649,623

At 30 June 2023

7,171,701

NET BOOK VALUE

At 30 June 2023

7,171,701

At 30 June 2022

1,522,078

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Amounts owed by group undertakings

42,956

4,392,779

Other debtors

-

1,369

42,956

4,394,148

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

5,000

5,001

Amounts owed to group undertakings

1,379,517

-

Other creditors

10,750

5,000

1,395,267

10,001

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Sam Ede BFP FCA FCCA (Senior Statutory Auditor)

for and on behalf of Lewis Brownlee (Chichester) Limited

8.	RELATED PARTY DISCLOSURES

During the year the company incurred £20,000 (2022: £20,000) fees payable to a director of the company. At the balance sheet date trade creditors includes £5,000 (2022: £5,000) owed by the company to the director.