IRIS Accounts Production v25.1.3.33 04633912 Board of Directors 1.1.24 31.12.24 31.12.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh046339122023-12-31046339122024-12-31046339122024-01-012024-12-31046339122022-12-31046339122023-01-012023-12-31046339122023-12-3104633912ns15:EnglandWales2024-01-012024-12-3104633912ns14:PoundSterling2024-01-012024-12-3104633912ns10:Director12024-01-012024-12-3104633912ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3104633912ns10:SmallEntities2024-01-012024-12-3104633912ns10:AuditExemptWithAccountantsReport2024-01-012024-12-3104633912ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3104633912ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3104633912ns10:FullAccounts2024-01-012024-12-3104633912ns10:Director22024-01-012024-12-3104633912ns10:RegisteredOffice2024-01-012024-12-3104633912ns5:RetainedEarningsAccumulatedLosses2023-12-3104633912ns5:RetainedEarningsAccumulatedLosses2022-12-3104633912ns5:RetainedEarningsAccumulatedLosses2024-01-012024-12-3104633912ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-3104633912ns5:RetainedEarningsAccumulatedLosses2024-12-3104633912ns5:RetainedEarningsAccumulatedLosses2023-12-3104633912ns5:CurrentFinancialInstruments2024-12-3104633912ns5:CurrentFinancialInstruments2023-12-3104633912ns5:Non-currentFinancialInstruments2024-12-3104633912ns5:Non-currentFinancialInstruments2023-12-3104633912ns5:ShareCapital2024-12-3104633912ns5:ShareCapital2023-12-3104633912ns5:OwnedAssets2024-01-012024-12-3104633912ns5:OwnedAssets2023-01-012023-12-3104633912112024-01-012024-12-3104633912112023-01-012023-12-3104633912ns5:LandBuildings2023-12-3104633912ns5:LeaseholdImprovements2023-12-3104633912ns5:PlantMachinery2023-12-3104633912ns5:LandBuildings2024-01-012024-12-3104633912ns5:LeaseholdImprovements2024-01-012024-12-3104633912ns5:PlantMachinery2024-01-012024-12-3104633912ns5:LandBuildings2024-12-3104633912ns5:LeaseholdImprovements2024-12-3104633912ns5:PlantMachinery2024-12-3104633912ns5:LandBuildings2023-12-3104633912ns5:LeaseholdImprovements2023-12-3104633912ns5:PlantMachinery2023-12-3104633912ns5:FurnitureFittings2023-12-3104633912ns5:MotorVehicles2023-12-3104633912ns5:ComputerEquipment2023-12-3104633912ns5:FurnitureFittings2024-01-012024-12-3104633912ns5:MotorVehicles2024-01-012024-12-3104633912ns5:ComputerEquipment2024-01-012024-12-3104633912ns5:FurnitureFittings2024-12-3104633912ns5:MotorVehicles2024-12-3104633912ns5:ComputerEquipment2024-12-3104633912ns5:FurnitureFittings2023-12-3104633912ns5:MotorVehicles2023-12-3104633912ns5:ComputerEquipment2023-12-3104633912ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3104633912ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3104633912ns5:DeferredTaxation2023-12-3104633912ns5:DeferredTaxation2024-01-012024-12-3104633912ns5:DeferredTaxation2024-12-31
REGISTERED NUMBER: 04633912 (England and Wales)















Report of the Directors and

Financial Statements

for the Year Ended 31 December 2024

for

Loadbalancer.org Limited

Loadbalancer.org Limited (Registered number: 04633912)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Report of the Directors 2

Statement of Income and Retained Earnings 3

Statement of Financial Position 4

Notes to the Financial Statements 6


Loadbalancer.org Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: K J Turnbull
M R Turnbull





REGISTERED OFFICE: Compass House
Compass Road
Portsmouth
Hampshire
PO6 4PS





REGISTERED NUMBER: 04633912 (England and Wales)





ACCOUNTANTS: Wilson Partners Limited
Chancery House
30 St Johns Road
Woking
Surrey
GU21 7SA

Loadbalancer.org Limited (Registered number: 04633912)

Report of the Directors
for the Year Ended 31 December 2024

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the supply of computer hardware and related consultancy services.

RESEARCH AND DEVELOPMENT
The company is engaged in ongoing research and development aimed at developing further Loadbalancing solutions.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

K J Turnbull
M R Turnbull

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





K J Turnbull - Director


5 June 2025

Loadbalancer.org Limited (Registered number: 04633912)

Statement of Income and
Retained Earnings
for the Year Ended 31 December 2024

31/12/24 31/12/23
Notes £    £   

REVENUE 4,581,923 4,491,069

Cost of sales (94,114 ) (161,438 )
GROSS PROFIT 4,487,809 4,329,631

Administrative expenses (3,485,682 ) (3,443,988 )
OPERATING PROFIT 5 1,002,127 885,643

Interest receivable and similar income 112,724 53,647
PROFIT BEFORE TAXATION 1,114,851 939,290

Tax on profit 6 16,061 (19,576 )
PROFIT FOR THE FINANCIAL YEAR 1,130,912 919,714

Retained earnings at beginning of year 3,430,479 2,833,318

Dividends (322,553 ) (322,553 )

RETAINED EARNINGS AT END OF
YEAR

4,238,838

3,430,479

Loadbalancer.org Limited (Registered number: 04633912)

Statement of Financial Position
31 December 2024

31/12/24 31/12/23
Notes £    £   
FIXED ASSETS
Property, plant and equipment 7 1,699,677 1,784,187

CURRENT ASSETS
Inventories 148,591 162,261
Debtors 8 1,017,576 1,009,134
Cash at bank and in hand 4,473,732 3,221,479
5,639,899 4,392,874
CREDITORS
Amounts falling due within one year 9 (1,770,300 ) (1,629,978 )
NET CURRENT ASSETS 3,869,599 2,762,896
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,569,276

4,547,083

CREDITORS
Amounts falling due after more than one
year

10

(1,228,245

)

(998,350

)

PROVISIONS FOR LIABILITIES 11 (102,093 ) (118,154 )
NET ASSETS 4,238,938 3,430,579

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 12 4,238,838 3,430,479
SHAREHOLDERS' FUNDS 4,238,938 3,430,579

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 directors acknowledge their 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.

Loadbalancer.org Limited (Registered number: 04633912)

Statement of Financial Position - continued
31 December 2024


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

The financial statements were approved by the Board of Directors and authorised for issue on 5 June 2025 and were signed on its behalf by:





K J Turnbull - Director


Loadbalancer.org Limited (Registered number: 04633912)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Loadbalancer.org 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.

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

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

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

Subscription revenue is recognised on a straight-line basis over the term of the software maintenance contract. Revenue relating to future periods is classified as deferred income on the Statement of Financial Position to reflect the transfer of risk and reward.

Tangible fixed assets
Fixed assets are stated at cost, net of depreciation and any provision for impairment.

Depreciation is provided on all tangible fixed assets at rates calculated to write each asset down to its estimate residual value on a straight line basis over its expected useful life, as follows:-

Freehold property - 2% on cost
Improvements to property - straight line over 10 years
Plant and machinery - 25% on reducing balance
Computer equipment - 33 % on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on reducing balance
Freehold land is not depreciated.

Residual value is calculated on prices prevailing at the reporting date, after estimated costs of disposal, for the asset as if it were at the age and in the condition expected at the end of its useful life.

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


Loadbalancer.org Limited (Registered number: 04633912)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the statement of financial position. 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.

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.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102, in full, to all of its financial instruments.

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument, and are offset only when the company currently has a legally enforceable right to set off the recognised amounts and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets

Debtors
Debtors which are receivable within one year and which do not constitute a financing transaction are initially measured at the transaction price. Debtors are subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses.

Where an arrangement with a debtor constitutes a financing transaction, the debtor is initially and subsequently measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

A provision for impairment of debtors is established when there is evidence that the amounts due will not be collected according to the original terms of the contract. Impairment losses are recognised in profit or loss for the excess of the carrying value of the debtor over the present value of the future cash flows discounted using the original effective interest rate. Subsequent reversals of an impairment loss that objectively relate to an event occuring after the impairment loss was recognised, are recognised immediately in profit or loss.


Loadbalancer.org Limited (Registered number: 04633912)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

3. ACCOUNTING POLICIES - continued

Financial liabilities and equity
Financial instruments are classified as liabilities and equity instruments 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.

Equity instruments
Financial instruments classified as equity instruments are recorded at the fair value of the cash or other resources received or receivable, net of direct costs of issuing the equity instruments.

Creditors
Creditors which are payable within one year and which do not constitute a financing transaction are initially measured at the transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

Derecognition of financial assets and liabilities
A financial asset is derecognised only when the contractual rights to cash flows expire or are settled, or substantially all the risks and rewards of ownership are transferred to another party, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. A financial liability (or part thereof) is derecognised when the obligation specified in the contract is discharged, cancelled or expires.

Critical accounting estimates and areas of judgement
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions
The company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The directors do not believe that there are any estimates or assumptions that have a significant risk of causing a material adjustment to the carrying amounts of the assets and liabilities of the company.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2023 - 47 ) .

5. OPERATING PROFIT

The operating profit is stated after charging:

31/12/24 31/12/23
£    £   
Depreciation - owned assets 122,383 121,320
Research and development costs 23,510 13,856

6. TAXATION

Analysis of the tax (credit)/charge
The tax (credit)/charge on the profit for the year was as follows:
31/12/24 31/12/23
£    £   
Deferred tax (16,061 ) 19,576
Tax on profit (16,061 ) 19,576

UK corporation tax has been charged at 25% (2023 - 23.50%).

Loadbalancer.org Limited (Registered number: 04633912)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. TAXATION - continued

Reconciliation of total tax (credit)/charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

31/12/24 31/12/23
£    £   
Profit before tax 1,114,851 939,290
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 23.500%)

278,713

220,733

Effects of:
Expenses not deductible for tax purposes - 690
Research & Development (294,774 ) (201,847 )


Total tax (credit)/charge (16,061 ) 19,576

On 1 April 2023 the UK government increased the main rate of corporation tax to 25% from 19% resulting in an effective tax rate to 23.5% in the year to 31 December 2023.

7. PROPERTY, PLANT AND EQUIPMENT
Improvements
Freehold to Plant and
property property machinery
£    £    £   
Cost
At 1 January 2024 1,467,500 533,434 7,123
Additions - - 1,350
At 31 December 2024 1,467,500 533,434 8,473
Depreciation
At 1 January 2024 160,135 169,417 4,719
Charge for year 20,015 53,282 714
At 31 December 2024 180,150 222,699 5,433
Net book value
At 31 December 2024 1,287,350 310,735 3,040
At 31 December 2023 1,307,365 364,017 2,404

Loadbalancer.org Limited (Registered number: 04633912)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

7. PROPERTY, PLANT AND EQUIPMENT - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
Cost
At 1 January 2024 100,754 105,383 194,224 2,408,418
Additions - - 36,523 37,873
At 31 December 2024 100,754 105,383 230,747 2,446,291
Depreciation
At 1 January 2024 82,503 41,259 166,198 624,231
Charge for year 8,837 16,030 23,505 122,383
At 31 December 2024 91,340 57,289 189,703 746,614
Net book value
At 31 December 2024 9,414 48,094 41,044 1,699,677
At 31 December 2023 18,251 64,124 28,026 1,784,187

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Trade debtors 925,500 921,978
Other debtors 92,076 87,156
1,017,576 1,009,134

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Trade creditors 34,151 66,121
Tax - (39 )
Social security and other taxes 54,020 71,937
VAT 27,679 32,351
Other creditors and accruals 126,854 43,459
Deferred income 1,527,596 1,416,149
1,770,300 1,629,978

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/24 31/12/23
£    £   
Deferred income 1,228,245 998,350

11. PROVISIONS FOR LIABILITIES
31/12/24 31/12/23
£    £   
Deferred tax 102,093 118,154

Loadbalancer.org Limited (Registered number: 04633912)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2024 118,154
Provided during year (16,061 )
Balance at 31 December 2024 102,093

The provision for liabilities and charges is in respect of deferred taxation showing the amount provided and the full potential liability, primarily due to capital allowance claims in excess of qualifying depreciation. The timing of the reversal of the provision is uncertain due to the offset of excess depreciation of existing assets and accelerated capital allowances being claimed on future purchases.

12. RESERVES

Retained earnings represents cumulative profits or losses, net of dividends and other adjustments.

13. RELATED PARTY DISCLOSURES

The company trades with the following companies, Loadbalancer.org Appliances Ltd, registered in Canada,
Loadbalancer.org GmbH, registered in Germany and Loadbalancer.org Inc, registered in the USA, which are all related to the company by virtue of common control.

During the year the company made sales of £2,790,625 (2023: £2,163,811) to Loadbalancer.org Inc. At the year end it was owed £693,774 (2023: £780,331) by Loadbalancer.org Inc.

During the year the company made sales of £192,932 (2023: £234,373) to Loadbalancer.org GmbH. At the year end it was owed £7,608 (2023: £10,668) by Loadbalancer.org GmbH.

During the year the company made sales of £32,668 (2023: £42,546) to Loadbalancer.org Appliances Ltd. At the year end it owed £88 (2023: £839) to Loadbalancer.org Appliances Ltd.

14. ULTIMATE CONTROLLING PARTY

The directors consider the ultimate controlling party to be the board of directors.