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Registered number: 15320312














GRIDJET DATACENTRES LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

 
GRIDJET DATACENTRES LIMITED
REGISTERED NUMBER:15320312

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
Note
£

Fixed assets
  

Intangible assets
 4 
-

Tangible assets
 5 
273,781

Current assets
  

Debtors: amounts falling due within one year
 6 
217,518

Cash at bank and in hand
  
193,312

Current liabilities
  
410,830

Creditors: amounts falling due within one year
 7 
(1,546,263)

Net current liabilities
  
 
 
(1,135,433)

Total assets less current liabilities
  
(861,652)

Provisions for liabilities
  

Deferred tax
 8 
(68,445)

Other provisions
 9 
(784,750)

  
 
 
(853,195)

Net liabilities
  
(1,714,847)


Capital and reserves
  

Called up share capital 
 10 
1

Profit and loss account
  
(1,714,848)

  
(1,714,847)


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 July 2025.




C Cousins
B A Law
Director
Director

The notes on pages 2 to 8 form part of these financial statements.

Page 1

 
GRIDJET DATACENTRES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

1.


General information

Gridjet Datacentres Limited is a private limited liability company incorporated in England and Wales. The Company's registered and business office address is at Units 4-5 Tristram Centre, Brown Lane West, Leeds, England, LS12 6BF
The Company was incorporated on 30 November 2023 and commenced activities on the same date.
The Company's principal activity is data management services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

Based on their long term business plans the directors are confident that the Company will trade profitably in future periods and generate sufficient cash flows to meet its obligations as they fall due for payment.
At the present time, the Company is dependent on continued financial support of a fellow group company which has confirmed that sufficient funds will continue to be made available to allow the Company to meet all of its liabilities as they fall due for a period of at least twelve months from the date of approval of these financial statements. Accordingly the directors believe that it is appropriate to prepare the financial statements on a going concern basis.

 
2.3

Foreign currency translation

The Company's functional and presentational currency is £ Sterling.
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

 
2.4

Turnover

Revenue is derived from the provision of data management services and is recognised in the period in which the customer obtains control of the service, which may occur over time or at a point in time, depending on the nature of the performance obligation. Revenue is measured at the fair value of the consideration received or receivable, net of discounts and value-added tax.

Page 2

 
GRIDJET DATACENTRES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

 
2.7

Pensions

The Company contributes to a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive 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 reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.9

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

Page 3

 
GRIDJET DATACENTRES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.10

Intangible assets - Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the Company’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over 10 years.

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
Plant and machinery
-
5 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.13

Debtors

Short-term debtors are measured at the transaction price, less any impairment.

 
2.14

Creditors

Short term creditors are measured at the transaction price.

Page 4

 
GRIDJET DATACENTRES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

2024
£

Wages and salaries
208,864

Social security costs
24,580

Cost of defined contribution scheme
19,024

252,468


The average monthly number of employees, including directors, during the period was 7.

Page 5

 
GRIDJET DATACENTRES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

4.


Intangible assets



Goodwill

£



Cost


Additions
668,700



At 31 December 2024

668,700



Amortisation


Charge for the period on owned assets
50,153


Impairment charge
618,547



At 31 December 2024

668,700



Net book value



At 31 December 2024
-




5.


Tangible fixed assets





Short-term leasehold improvements
Plant and machinery
Total

£
£
£



Cost


Additions
166,695
144,260
310,955



At 31 December 2024

166,695
144,260
310,955



Depreciation


Charge for the period on owned assets
23,539
13,635
37,174



At 31 December 2024

23,539
13,635
37,174



Net book value



At 31 December 2024
143,156
130,625
273,781

Page 6

 
GRIDJET DATACENTRES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

6.


Debtors

2024
£


Trade debtors
42,535

Other debtors
97,524

Prepayments and accrued income
77,459

217,518



7.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
132,137

Amounts owed to group undertakings
1,254,737

Other taxation and social security
8,881

Other creditors
2,180

Accruals and deferred income
148,328

1,546,263



8.


Deferred taxation



2024


£






At beginning of period
-


Charged to profit or loss
68,445



At end of period
68,445

The deferred taxation balance is made up as follows:

2024
£


Accelerated capital allowances
68,445

Page 7

 
GRIDJET DATACENTRES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

9.


Provisions



Dilapidations

£





Arising on business combinations
784,750



At 31 December 2024
784,750

10.


Share capital

2024
£
Allotted, called up and fully paid


100 Ordinary shares of £0.01 each
1

The 100 ordinary shares of £0.01 each were alloted and fully paid at par on incorporation to provide initial capital.




11.


Related party transactions

The Company has taken advantage of the exemption under FRS102 33.1A Related Party Disclosures not to disclose transactions entered into between two or more members of a group, provided that any subsidiary undertaking which is a party to the transaction is wholly owned by a member of that group.


12.


Controlling party

The Company’s immediate parent entity is Your.Online UK Finacq Limited, a company incorporated in the England & Wales..
The directors consider the ultimate controlling party to be Strikwerda Investments B.V., a company registered in the Netherlands.
The ultimate beneficial owner is T Strikwerda.


13.


Auditors' information

The auditors' report on the financial statements for the period ended 31 December 2024 was unqualified.

In their report, the auditors emphasised the following matter without qualifying their report:
We draw attention to note 2.2 in the financial statements, which indicates that the Company for the period ended 31 December 2024 had net liabilities of £1,714,848. As stated in note 2.2, these events or conditions, along with the other matters as set forth in note 2.2, indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

The audit report was signed on 15 July 2025 by Stephen Iseman FCA (Senior Statutory Auditor) on behalf of Sopher + Co LLP.

Page 8

 
GRIDJET DATACENTRES LIMITED
 
 
Page 9