| REGISTERED NUMBER: |
| Report of the Directors and |
| Financial Statements |
| for the Year Ended 31 December 2024 |
| for |
| Loadbalancer.org Limited |
| REGISTERED NUMBER: |
| 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: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 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. |
| 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: |
| 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 |
| Cost of sales | ( |
) | ( |
) |
| GROSS PROFIT |
| Administrative expenses | ( |
) | ( |
) |
| OPERATING PROFIT | 5 |
| Interest receivable and similar income |
| PROFIT BEFORE TAXATION |
| Tax on profit | 6 | ( |
) |
| PROFIT FOR THE FINANCIAL YEAR |
| Retained earnings at beginning of year |
| Dividends | ( |
) | ( |
) |
| RETAINED EARNINGS AT END OF YEAR |
| 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 |
| CURRENT ASSETS |
| Inventories |
| Debtors | 8 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 9 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
10 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | 12 |
| SHAREHOLDERS' FUNDS |
| 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 were approved by the Board of Directors and authorised for issue on |
| 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 |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| 5. | OPERATING PROFIT |
| The operating profit is stated after charging: |
| 31/12/24 | 31/12/23 |
| £ | £ |
| Depreciation - owned assets |
| Research and development costs |
| 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 | ( |
) |
| Tax on profit | ( |
) |
| 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 |
| Profit multiplied by the standard rate of corporation tax in the UK of (2023 - |
| Effects of: |
| Expenses not deductible for tax purposes |
| Research & Development | ( |
) | ( |
) |
| 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 |
| Additions |
| At 31 December 2024 |
| Depreciation |
| At 1 January 2024 |
| Charge for year |
| At 31 December 2024 |
| Net book value |
| At 31 December 2024 |
| At 31 December 2023 |
| 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 |
| Additions |
| At 31 December 2024 |
| Depreciation |
| At 1 January 2024 |
| Charge for year |
| At 31 December 2024 |
| Net book value |
| At 31 December 2024 |
| At 31 December 2023 |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/12/24 | 31/12/23 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/12/24 | 31/12/23 |
| £ | £ |
| Trade creditors |
| Tax | ( |
) |
| Social security and other taxes |
| VAT | 27,679 | 32,351 |
| Other creditors and accruals |
| Deferred income |
| 10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31/12/24 | 31/12/23 |
| £ | £ |
| Deferred income |
| 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 |
| Provided during year | ( |
) |
| Balance at 31 December 2024 |
| 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. |