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REGISTERED NUMBER: 06786487 (England and Wales)






























FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

DSB.NET LTD

DSB.NET LTD (REGISTERED NUMBER: 06786487)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DSB.NET LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mr A Chenevix-Trench



REGISTERED OFFICE: 3 Queensbridge
The Lakes
Northampton
Northamptonshire
NN4 7BF



REGISTERED NUMBER: 06786487 (England and Wales)



SENIOR STATUTORY AUDITOR: Mr P Bott FCA



AUDITORS: Mark J Rees LLP Chartered Accountants
and Statutory Auditors
Granville Hall
Granville Road
Leicester
LE1 7RU

DSB.NET LTD (REGISTERED NUMBER: 06786487)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 89,041 103,075
89,041 103,075

CURRENT ASSETS
Debtors 6 820,210 1,022,370
Cash at bank and in hand 423,092 356,814
1,243,302 1,379,184
CREDITORS
Amounts falling due within one year 7 1,144,531 1,072,441
NET CURRENT ASSETS 98,771 306,743
TOTAL ASSETS LESS CURRENT
LIABILITIES

187,812

409,818

CREDITORS
Amounts falling due after more than one
year

8

666,754

711,263
NET LIABILITIES (478,942 ) (301,445 )

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 10 (488,942 ) (311,445 )
SHAREHOLDERS' FUNDS (478,942 ) (301,445 )

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 20 September 2024 and were signed by:





Mr A Chenevix-Trench - Director


DSB.NET LTD (REGISTERED NUMBER: 06786487)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

dsb.net 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.

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.

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 concluded under normal market conditions.

Turnover
Revenue comprises the fair value of the sale of services excluding value added taxes. It is recognised evenly over the period of the term of the subscription contract.

Intangible assets
Intangible fixed assets, consisting of website development and computer software, are capitalised and amortised over their estimated useful life of between two and five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Taxation
Current tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transition that resulted in the tax expense (income).

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. Deferred tax assets and deferred tax liabilities are offset only if the group has a legally enforceable right to set off current tax assets against current tax liabilities, and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously.

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.

DSB.NET LTD (REGISTERED NUMBER: 06786487)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

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.

Going concern
For the year ended 31 December 2023 the company made a loss before taxation of £288,384 (2022: £243,825), and as at this date, there were net current assets of £98,771 (2022: £306,743) and overall net liabilities of £478,942 (2022: £301,445). Continuation of trade therefore depends on the continued support from the company's parent and group companies. Accordingly these accounts have been prepared on the Going Concern basis, as it is the director's opinion that with group support the company can continue to trade for the foreseeable future. This time frame being at least one year from the date of signing of the balance sheet. Should the company be unable to trade, adjustments would have to be made to reduce the assets to their recoverable amount, to provide for any further liabilities which may arise, and to reclassify fixed assets as current assets.

It is noted in point 13 of this report that the company was sold post year end. The directors believe the company will benefit from significant cost reductions as a result of this sale.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2022 - 35 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 243,665
AMORTISATION
At 1 January 2023
and 31 December 2023 243,665
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

DSB.NET LTD (REGISTERED NUMBER: 06786487)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2023 362,626
Additions 1,679
At 31 December 2023 364,305
DEPRECIATION
At 1 January 2023 259,551
Charge for year 15,713
At 31 December 2023 275,264
NET BOOK VALUE
At 31 December 2023 89,041
At 31 December 2022 103,075

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 533,629 577,506
Other debtors 286,581 444,864
820,210 1,022,370

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 252,387 192,487
Amounts owed to group undertakings 572,770 436,120
Taxation and social security 144,090 165,378
Other creditors 175,284 278,456
1,144,531 1,072,441

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 666,754 711,263

DSB.NET LTD (REGISTERED NUMBER: 06786487)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 47,300 63,750
Between one and five years 189,200 -
236,500 63,750

10. RESERVES
Retained
earnings
£   

At 1 January 2023 (311,445 )
Deficit for the year (177,497 )
At 31 December 2023 (488,942 )

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

The Report of the Auditors was unqualified.

Mr P Bott FCA (Senior Statutory Auditor)
for and on behalf of Mark J Rees LLP Chartered Accountants

12. ULTIMATE CONTROLLING PARTY

At the year end, the company's parent company was dsb ccb solutions GmbH, incorporated in Germany. The ultimate holding company is Beck Gruppe GmbH & Co. OHG, incorporated in Germany.

The ultimate controlling party was Mr U Beck by virtue of his majority shareholding in Beck Gruppe GmbH & Co. OHG.

After the year end, the company's parent company, dsb ccb solutions GmbH was sold to Darwin CX GmbH, incorporated in Germany.

The ultimate holding company is DRWN Inc., incorporated in USA.