Company registration number 11878098 (England and Wales)
STABLEPOINT LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
STABLEPOINT LIMITED
COMPANY INFORMATION
Directors
Mr Sebastian De Lemos
Mr David Spellenberg
Mr Dominic Edward Taylor
Company number
11878098
Registered office
Purlieus Barn
Ewen
Cirencester
England
GL7 6BY
Auditor
Shaw & Co (Norfolk Ltd)
Chartered Certified Accountants
Statutory Auditor
3 Colegate
Norwich
STABLEPOINT LIMITED
CONTENTS
Page
Directors' report
1 - 2
Independent auditor's report
3 - 5
Income statement
6
Statement of financial position
7 - 8
Statement of changes in equity
9
Statement of cash flows
10
Notes to the financial statements
11 - 25
STABLEPOINT LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

The directors present their annual report and financial statements for the year ended 31 December 2024.

Principal activities

The principal activity of the company continued to be that of technology consulting services.

Results and dividends

The results for the year are set out on page 6.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

No preference dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr Sebastian De Lemos
Mr David Spellenberg
Mr Dominic Edward Taylor
Auditor

Shaw & Co were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with International Financial Reporting Standards (IFRSs) as adopted by the United Kingdom. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, International Accounting Standard 1 requires that directors:

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STABLEPOINT LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
Statement of disclosure to auditor

Each director in office at the date of approval of this annual report confirms that:

 

This confirmation is given and should be interpreted in accordance with the provisions of section 418 of the Companies Act 2006.

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr Sebastian De Lemos
Director
25 July 2025
STABLEPOINT LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF STABLEPOINT LIMITED
- 3 -
Opinion

We have audited the financial statements of Stablepoint Limited (the 'company') for the year ended 31 December 2024 which comprise the income statement, the statement of financial position, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and UK adopted international accounting standards.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

STABLEPOINT LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF STABLEPOINT LIMITED (CONTINUED)
- 4 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

STABLEPOINT LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF STABLEPOINT LIMITED (CONTINUED)
- 5 -

Irregularities, including fraud, are instances of non-compliance with law and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

 

We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant are United Kingdom Accounting Standards, UK Companies Act 2006 and tax legislation (governed by HM Revenue and Customs).

 

Audit procedures performed by the engagement team included:

 

- Understanding the nature of the industry and sector;

- Understanding the management's internal controls designed to prevent and detect irregularities;

- Reviewing relevant meeting minutes;

- Testing transactions using substantive procedures;

- Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.

 

Our audit testing might include testing complete populations of certain transactions and balances, possibly using data auditing techniques. However, it typically involves selecting a number of items for testing, rather than testing complete populations. We will often seek to target particular items for testing based on their size or risk characteristics. In other cases, we will use audit sampling to enable us to draw a conclusion about the population from which the sample is selected.

 

There is inherent limitation in the audit procedures described above. The risk of detecting a material misstatement due to fraud is higher than the risk of not detecting one results from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

 

A further description of our responsibilities is available on the Financial Reporting Council's website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made soleiy to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Dominic Shaw FCCA (Senior Statutory Auditor)
For and on behalf of
29 July 2025
Shaw and Co (Norfolk) Ltd
Chartered Certified Accountants
Statutory Auditor
3 Colegate
Norwich
Norfolk
NR3 1BN
STABLEPOINT LIMITED
INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
2024
2023
as restated
Notes
£
£
Revenue
3
4,069,893
2,080,070
Cost of sales
(698,030)
(1,287,377)
Gross profit
3,371,863
792,693
Other operating income
-
196,854
Administrative expenses
(4,200,397)
(1,739,811)
Exceptional items
4
(1,428,513)
-
0
Operating loss
5
(2,257,047)
(750,264)
Investment revenues
7
5,259
2,006
Finance costs
8
(322,751)
(49,206)
Loss before taxation
(2,574,539)
(797,464)
Income tax (income)/expense
9
2,576
(7,727)
Loss and total comprehensive income for the year
(2,571,963)
(805,191)
STABLEPOINT LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
31 December 2024
- 7 -
2024
2023
as restated
Notes
£
£
Non-current assets
Goodwill
11
327,322
327,322
Intangible assets
11
-
0
1,701,994
Property, plant and equipment
12
20,605
30,908
Investments
13
7,245,137
-
0
7,593,064
2,060,224
Current assets
Trade and other receivables
15
3,621,938
1,268,774
Cash and cash equivalents
244,014
323,408
3,865,952
1,592,182
Current liabilities
Trade and other payables
18
4,887,614
1,098,595
Borrowings
17
5,088
3,390
Deferred revenue
20
672,305
699,513
5,565,007
1,801,498
Net current liabilities
(1,699,055)
(209,316)
Non-current liabilities
Trade and other payables
18
8,771,726
2,142,391
Borrowings
17
25,396
37,091
Deferred tax liabilities
19
5,151
7,727
8,802,273
2,187,209
Net liabilities
(2,908,264)
(336,301)
Equity
Called up share capital
21
1,680,100
1,680,100
Retained earnings
(4,588,364)
(2,016,401)
Total equity
(2,908,264)
(336,301)
STABLEPOINT LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
- 8 -

These 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 25 July 2025 and are signed on its behalf by:
Mr Sebastian De Lemos
Director
Company registration number 11878098 (England and Wales)
STABLEPOINT LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
Share capital
Retained earnings
Total
£
£
£
As restated for the period ended 31 December 2023:
Balance at 1 January 2023
1,680,100
(1,211,210)
468,890
Balance at 1 January 2023
1,680,100
(1,211,210)
468,890
Year ended 31 December 2023:
Loss and total comprehensive income
-
(805,191)
(805,191)
Balance at 31 December 2023
1,680,100
(2,016,401)
(336,301)
Year ended 31 December 2024:
Loss and total comprehensive income
-
(2,571,963)
(2,571,963)
Balance at 31 December 2024
1,680,100
(4,588,364)
(2,908,264)
STABLEPOINT LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 10 -
2024
2023
as restated
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
24
5,912,688
1,531,748
Interest paid
(322,751)
(49,206)
Net cash inflow from operating activities
5,589,937
1,482,542
Investing activities
Purchase of intangible assets
-
0
(1,435,480)
Proceeds from disposal of intangibles
1,701,994
-
0
Purchase of property, plant and equipment
-
0
(41,211)
Proceeds from disposal of property, plant and equipment
(121,450)
340,216
Proceeds from disposal of subsidiaries
(7,245,137)
-
0
Interest received
5,259
2,006
Net cash used in investing activities
(5,659,334)
(1,134,469)
Financing activities
Repayment of bank loans
(6,607)
(55,851)
Net cash used in financing activities
(6,607)
(55,851)
Net (decrease)/increase in cash and cash equivalents
(76,004)
292,222
Cash and cash equivalents at beginning of year
320,018
27,796
Cash and cash equivalents at end of year
244,014
320,018
Relating to:
Bank balances and short term deposits
244,014
323,408
Bank overdrafts
-
0
(3,390)
STABLEPOINT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 11 -
1
Accounting policies
Company information

Stablepoint Limited is a private company limited by shares incorporated in England and Wales. The registered office is Purlieus Barn, Ewen, Cirencester, England, GL7 6BY. The company's principal activities and nature of its operations are disclosed in the directors' report.

1.1
Accounting convention

The financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted for use in the United Kingdom and with those parts of the Companies Act 2006 applicable to companies reporting under IFRS, except as otherwise stated.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, except for the revaluation of . The principal accounting policies adopted are set out below.

1.2
Going concern

The directors have at the time of approving the financial statements, a reasonable expectation that the truecompany 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.

1.3
Revenue

Revenue is measured based on the consideration specified in a contract with a customer and excludes amounts collected on behalf of third parties. The company recognises revenue when it transfers control of a product or service to a customer.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

The company recognises revenue from the following major sources:

 

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Domain & Add-on Services

Domain registration revenue is recognised over time, when control of the domain is transferred and registration is completed.

 

Add-on services and software tools are recognised based on the nature of the product:

If delivered immediately (e.g., one-off licences), revenue is recognised at a point in time.

If linked to ongoing service (e.g. maintenance), revenue is recognised over time.

STABLEPOINT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 12 -
Hosting Services

Revenue from hosting services (including shared web hosting and managed hosting) is recognised over time as the services are provided.

 

This is because: The customer simultaneously receives and consumes the benefits as the service is delivered.

 

Performance obligations are satisfied evenly throughout the contract period.

Measurement: Revenue is typically recognised on a straight-line basis over the duration of the service contract (e.g., monthly or annual hosting plans), unless another pattern better reflects performance.

Other Income

Software subscriptions are recognised over time based on the subscription period. Intercompany income (e.g., sourcing fees, loan interest) is recognised based on the underlying agreement and in accordance with IFRS 15 if arising from services rendered, or IFRS 9 if it relates to financing income (e.g., loan interest).

1.4
Goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less impairment losses.

 

The gain on a bargain purchase is recognised in profit or loss in the period of the acquisition.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit. An impairment loss recognised for goodwill is not subsequently reversed.

Goodwill arising on acquisitions before the date of transition to IFRS has been retained at the previous UK GAAP amounts subject to being tested for impairment at that date.

1.5
Intangible assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

 

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives.

STABLEPOINT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 13 -
1.6
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
The item is fully depreciated
Plant and equipment
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the income statement.

1.7
Impairment of tangible and intangible assets

At each reporting end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment annually, and whenever there is an indication that the asset may be impaired.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

 

Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.8
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial assets

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets are classified into specified categories, depending on the nature and purpose of the financial assets.

 

At initial recognition, financial assets classified as fair value through profit and loss are measured at fair value and any transaction costs are recognised in profit or loss. Financial assets not classified as fair value through profit and loss are initially measured at fair value plus transaction costs.

STABLEPOINT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 14 -
Financial assets at fair value through profit or loss

When any of the above-mentioned conditions for classification of financial assets is not met, a financial asset is classified as measured at fair value through profit or loss. Financial assets measured at fair value through profit or loss are recognized initially at fair value and any transaction costs are recognised in profit or loss when incurred. A gain or loss on a financial asset measured at fair value through profit or loss is recognised in profit or loss, and is included within finance income or finance costs in the statement of income for the reporting period in which it arises.

Financial assets held at amortised cost

Financial instruments are classified as financial assets measured at amortised cost where the objective is to hold these assets in order to collect contractual cash flows, and the contractual cash flows are solely payments of principal and interest. They arise principally from the provision of goods and services to customers (eg trade receivables). They are initially recognised at fair value plus transaction costs directly attributable to their acquisition or issue, and are subsequently carried at amortised cost using the effective interest rate method, less provision for impairment where necessary.

Financial assets at fair value through other comprehensive income

Debt instruments are classified as financial assets measured at fair value through other comprehensive income where the financial assets are held within the company’s business model whose objective is achieved by both collecting contractual cash flows and selling financial assets, and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

 

A debt instrument measured at fair value through other comprehensive income is recognised initially at fair value plus transaction costs directly attributable to the asset. After initial recognition, each asset is measured at fair value, with changes in fair value included in other comprehensive income. Accumulated gains or losses recognised through other comprehensive income are directly transferred to profit or loss when the debt instrument is derecognised.

The company has made an irrevocable election to recognize changes in fair value of investments in equity instruments through other comprehensive income, not through profit or loss. A gain or loss from fair value changes will be shown in other comprehensive income and will not be reclassified subsequently to profit or loss. Equity instruments measured at fair value through other comprehensive income are recognized initially at fair value plus transaction cost directly attributable to the asset. After initial recognition, each asset is measured at fair value, with changes in fair value included in other comprehensive income. Accumulated gains or losses recognized through other comprehensive income are directly transferred to retained earnings when the equity instrument is derecognized or its fair value substantially decreased. Dividends are recognized as finance income in profit or loss.

Impairment of financial assets

Financial assets carried at amortised cost and FVOCI are assessed for indicators of impairment at each reporting end date.

 

The expected credit losses associated with these assets are estimated on a forward-looking basis. A broad range of information is considered when assessing credit risk and measuring expected credit losses, including past events, current conditions, and reasonable and supportable forecasts that affect the expected collectability of the future cash flows of the instrument.

 

For trade receivables, the simplified approach permitted by IFRS 9 is applied, which requires expected lifetime losses to be recognised from initial recognition of the receivables.

 

 

STABLEPOINT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 15 -
Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

1.10
Financial liabilities

The company recognises financial debt when the company becomes a party to the contractual provisions of the instruments. Financial liabilities are classified as either 'financial liabilities at fair value through profit or loss' or 'other financial liabilities'.

Other financial liabilities

Other financial liabilities, including borrowings, trade payables and other short-term monetary liabilities, are initially measured at fair value net of transaction costs directly attributable to the issuance of the financial liability. They are subsequently measured at amortised cost using the effective interest method. For the purposes of each financial liability, interest expense includes initial transaction costs and any premium payable on redemption, as well as any interest or coupon payable while the liability is outstanding.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the company’s obligations are discharged, cancelled, or they expire.

1.11
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.12
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax is the tax expected to be payable or recoverable on differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit, and is accounted for using the balance sheet liability method. Deferred tax liabilities are generally recognised for all taxable temporary differences and deferred tax assets are recognised to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilised. Such assets and liabilities are not recognised if the temporary difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

STABLEPOINT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 16 -
1.13
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of inventories or non-current assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14
Leases

At inception, the company assesses whether a contract is, or contains, a lease within the scope of IFRS 16. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Where a tangible asset is acquired through a lease, the company recognises a right-of-use asset and a lease liability at the lease commencement date. Right-of-use assets are included within property, plant and equipment, apart from those that meet the definition of investment property.

The company has elected not to recognise right-of-use assets and lease liabilities for short-term leases of machinery that have a lease term of 12 months or less, or for leases of low-value assets including IT equipment. The payments associated with these leases are recognised in profit or loss on a straight-line basis over the lease term.

2
Adoption of new and revised standards and changes in accounting policies

In the current year, the following new and revised Standards and Interpretations have been adopted by the company and have an effect on the current period or a prior period or may have an effect on future periods:

Change in accounting policy

The entity has transitioned from FRS 102 Section 1A to International Financial Reporting Standards (IFRS) for the current financial year. This change aligns the entity’s financial reporting framework with that of the group, whose consolidated financial statements are prepared in accordance with IFRS. The adoption of IFRS enhances consistency in financial reporting across the group, improves comparability, and provides greater transparency to stakeholders.

3
Revenue
2024
2023
£
£
Revenue analysed by class of business
Domain & Add-on Services
378,344
174,640
Hosting Services
2,404,419
779,484
Other Income
1,287,130
1,125,946
4,069,893
2,080,070
STABLEPOINT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 17 -
4
Exceptional items
2024
2023
£
£
Expenditure
Exceptional items
1,428,513
-

During the year, the company transferred a client list (intangible asset) to its parent company, World Host Group GmbH, for nil consideration. It has been presented as an exceptional item within the financial statements to clearly reflect the nature and significance of the transaction.

5
Operating loss
2024
2023
Operating loss for the year is stated after charging/(crediting):
£
£
Exchange (gains)/losses
(39,212)
2,625
Depreciation of property, plant and equipment
10,303
14,462
Loss/(profit) on disposal of property, plant and equipment
121,450
(340,216)
6
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
-
0
169,698
7
Investment income
2024
2023
£
£
Interest income
Financial instruments measured at amortised cost:
Bank deposits
2,962
2,006
Other interest income on financial assets
2,297
-
0
Total interest revenue
5,259
2,006
Income above relates to assets held at amortised cost, unless stated otherwise.
STABLEPOINT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 18 -
8
Finance costs
2024
2023
£
£
Other interest payable
322,751
49,206
9
Income tax expense
2024
2023
£
£
Deferred tax
Origination and reversal of temporary differences
(2,576)
7,727

The charge for the year can be reconciled to the loss per the income statement as follows:

2024
2023
£
£
Loss before taxation
(2,574,539)
(797,464)
Expected tax credit based on a corporation tax rate of 25.00% (2023: 25.00%)
(643,635)
(199,366)
Effect of expenses not deductible in determining taxable profit
5,765
289
Unutilised tax losses carried forward
637,869
213,543
Permanent capital allowances in excess of depreciation
(2,575)
(6,739)
Taxation (credit)/charge for the year
(2,576)
7,727
10
Prior year adjustment

Prior Period Adjustment

 

During the preparation of the financial statements for the year ended 31 December 2024, management identified that revenue for the year ended 31 December 2023 had been overstated by £330,515. This error was due to a reporting issue within the financial system, which resulted in income relating to the 2023 financial year in 2024.

 

To correct this, a prior period adjustment has been made. Revenue for the year ended 31 December 2023 has been reduced by £330,515, and deferred income as at that date has been increased by the same amount. A corresponding reduction has been made to retained earnings as at 1 January 2024.

 

The company implemented snowflake, a cloud-based platform to automate revenue computation and streamline data collection and processing. Tableau was also adopted to create dashboards that present revenue booking results, enhancing visibility and analysis across teams.

STABLEPOINT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 19 -
11
Intangible assets
Goodwill
Other intangibles
Total
£
£
£
Cost
At 1 January 2023
320,354
1,701,994
2,022,348
Additions
6,968
-
6,968
At 31 December 2023
327,322
1,701,994
2,029,316
Disposals
-
0
(1,701,994)
(1,701,994)
At 31 December 2024
327,322
-
0
327,322
Carrying amount
At 31 December 2024
327,322
-
327,322
At 31 December 2023
327,322
1,701,994
2,029,316
12
Property, plant and equipment
Computer equipment
Plant and equipment
Total
£
£
£
Cost
At 1 January 2023 and 1 January 2024
7,917
41,211
49,128
At 31 December 2024
7,917
41,211
49,128
Accumulated depreciation and impairment
At 1 January 2023
3,758
-
0
3,758
Charge for the year
4,159
10,303
14,462
At 31 December 2023
7,917
10,303
18,220
Charge for the year
-
0
10,303
10,303
At 31 December 2024
7,917
20,606
28,523
Carrying amount
At 31 December 2024
-
20,605
20,605
At 31 December 2023
-
30,908
30,908
13
Investments
Current
Non-current
2024
2023
2024
2023
£
£
£
£
Investments in subsidiaries
-
0
-
0
7,245,137
-
0
STABLEPOINT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
13
Investments
(Continued)
- 20 -
Fair value of financial assets carried at amortised cost

Except as detailed below the directors believe that the carrying amounts of financial assets carried at amortised cost in the financial statements approximate to their fair values.

14
Subsidiaries

Details of the company's subsidiaries at 31 December 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Nimbus Hosting Ltd
England
Ordinary
100.00
15
Trade and other receivables
2024
2023
£
£
Trade receivables
1,769,492
771,562
VAT recoverable
118,763
-
0
Amounts owed by related parties
1,707,187
490,052
Other receivables
1,081
-
0
Prepayments
25,415
7,160
3,621,938
1,268,774
16
Trade receivables - credit risk
Fair value of trade receivables

The directors consider that the carrying amount of trade and other receivables differs from fair value as follows:

Carrying value
Fair value
2024
2023
2024
2023
£
£
£
£
Trade receivables net of allowances
1,769,492
771,562
-
0
-
0
Other debtors
1,081
-
0
-
0
-
Prepayments
25,415
7,160
-
0
-
0
1,795,988
778,722
-
0
-
0

No significant receivable balances are impaired at the reporting end date.

STABLEPOINT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 21 -
17
Borrowings
Current
Non-current
2024
2023
2024
2023
£
£
£
£
Borrowings held at amortised cost:
Bank overdrafts
-
3,390
-
-
Bank loans
5,088
-
25,396
37,091
18
Trade and other payables
Current
Non-current
2024
2023
2024
2023
£
£
£
£
Trade payables
15,950
112,539
-
0
-
0
Amounts owed to related parties
4,789,780
823,409
7,796,726
1,609,773
Accruals
11,963
40,358
-
0
-
0
Social security and other taxation
-
0
17,085
-
0
-
0
Other payables
69,921
105,204
975,000
532,618
4,887,614
1,098,595
8,771,726
2,142,391
19
Deferred taxation
Liabilities
2024
2023
£
£
Deferred tax balances
5,151
7,727

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon during the current and prior reporting period.

ACAs
£
Balance at 1 January 2023
-
0
Deferred tax movements in prior year
Charge/(credit) to profit or loss
7,727
Liability at 1 January 2024
7,727
Deferred tax movements in current year
Charge/(credit) to profit or loss
(2,576)
Liability at 31 December 2024
5,151
STABLEPOINT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 22 -
20
Deferred revenue
2024
2023
£
£
Arising from Total
672,305
699,513
All deferred revenues are expected to be settled within 12 months from the reporting date.
21
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
126,007,500
126,007,500
1,260,075
1,260,075
Ordinary B shares of 1p each
42,002,500
42,002,500
420,025
420,025
168,010,000
168,010,000
1,680,100
1,680,100
22
Capital risk management

The company is not subject to any externally imposed capital requirements.

23
Related party transactions

The following amounts were outstanding at the reporting end date:

At the reporting date, the company had outstanding intercompany payables to entities under common control, Hosting Group TopCo S.à r.l.

 

These included balances due to WHG Hosting Services Ltd of £1,995,272 (2023: £546,593), World Host Group US Inc of £2,028,216 (2023: £645,518), World Host Group CA Corp. of £54,987 (2023: £nil), World Host Group BG EOOD of £343,706 (2023: £nil), PT World Host Group of £210,275 (2023: £nil), World Host Group GmbH of £57,657 (2023: £8,152), Netregistry Pty Ltd of £85,512 (2023: £nil), and Colombiathosting S.A.S. of £14,155 (2023: £nil).

 

These amounts have been classified as current liabilities and are expected to be settled within 12 months. All balances are unsecured and interest-free.

 

In addition, the company had non-current intercompany loan payables to World Host Group GmbH of £7,626,987 (2023: £1,063,180) and World Host Group Holding GmbH of £169,740 (2023: £169,740). These loans are also unsecured and interest-free but are not expected to be repaid within 12 months and have therefore been classified as non-current liabilities in the statement of financial position.

The following amounts were outstanding at the reporting end date:

STABLEPOINT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
23
Related party transactions
(Continued)
- 23 -

 

At the reporting date, the company had outstanding intercompany receivables with entities under common control, Hosting Group TopCo S.à r.l..

 

These included amounts due from WHG Hosting Services Ltd of £880,869 (2023: £347,399), World Host Group US Inc of £386,485 (2023: £139,816), World Host Group CA Corp. of £126,467 (2023: £1,897), PT World Host Group of £138,224 (2023: £nil), Wingu Networks, S.A. de C.V. of £26,773 (2023: £939), Verpex Ltd of £22,646 (2023: £nil), Fixed.Net of £17,181 (2023: £nil), and Nimbus Hosting Ltd of £1,816 (2023: £nil). In addition, the company had short-term intercompany loans due from World Host Group (MY) Sdn. Bhd. of £4,505 (2023: £nil), and from Nimbus Hosting of £102,221 (2023: £nil).

 

All balances are unsecured, interest-free, and are expected to be settled within 12 months. No guarantees have been provided or received in respect of these balances, and they have been classified as current assets in the statement of financial position.

24
Cash generated from operations
2024
2023
£
£
Loss for the year before income tax
(2,574,539)
(797,464)
Adjustments for:
Finance costs
322,751
49,206
Investment income
(5,259)
(2,006)
Loss/(gain) on disposal of property, plant and equipment
121,450
(340,216)
Depreciation and impairment of property, plant and equipment
10,303
14,462
Movements in working capital:
Increase in trade and other receivables
(2,353,164)
(166,016)
Increase in trade and other payables
10,418,354
2,360,999
(Decrease)/increase in deferred revenue outstanding
(27,208)
412,783
Cash generated from operations
5,912,688
1,531,748
25
Analysis of changes in net funds
1 January 2024
Cash flows
31 December 2024
£
£
£
Cash at bank and in hand
323,408
(79,394)
244,014
Bank overdrafts
(3,390)
3,390
-
320,018
(76,004)
244,014
Borrowings excluding overdrafts
(37,091)
6,607
(30,484)
282,927
(69,397)
213,530
STABLEPOINT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
25
Analysis of changes in net funds
(Continued)
- 24 -
1 January 2023
Cash flows
31 December 2023
Prior year:
£
£
£
Cash at bank and in hand
-
323,408
323,408
Bank overdrafts
-
(3,390)
(3,390)
-
320,018
320,018
Borrowings excluding overdrafts
-
(37,091)
(37,091)
-
282,927
282,927
STABLEPOINT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 25 -
26
Related party income and fees

During the year ended 31 December 2024, Stablepoint Limited entered into a number of transactions with fellow group entities as part of its normal course of operations. These transactions are conducted on an arm’s length basis and primarily relate to support services, centralised sourcing, administrative services, and intercompany loan interest. The total value of such transactions is as follows:

 

Intercompany Income

 

Stablepoint Limited recognised intercompany income of £182,493.95 in 2024 (2023: £34,632.35), comprising:

 

Centralised Sourcing Fees:

Wingu Networks, S.A. de C.V.: £25,834.01 (2023: £938.86)

World Host Group CA Corp.: £56,297.73 (2023: £1,897.02)

World Host Group US Inc: £98,065.27 (2023: £31,796.47)

Total: £180,197.01 (2023: £34,632.35)

 

Loan Interest Income:

Nimbus Hosting Ltd.: £2,220.83 (2023: £–)

World Host Group (MY) Sdn. Bhd.: £76.11 (2023: £–)

Total: £2,296.94 (2023: £–)

 

Intercompany Expenses

Stablepoint Limited incurred intercompany expenses totalling £3,638,206.33 in 2024 (2023: £1,191,598.03), broken down as follows:

 

Support Services:

PT World Host Group: £261,797.58 (2023: £-)

World Host Group BG EOOD: £787,552.39 (2023: £287,675.94)

Total: £1,049,349.97 (2023: £287,675.94)

 

Centralised Sourcing Fees:

WHG Hosting Services Ltd: £734,377.39 (2023: £230,019.63)

World Host Group US Inc: £1,127,389.64 (2023: £443,886.04)

Total: £1,861,767.03 (2023: £673,905.67)

 

Admin / Management Fees:

WHG Hosting Services Ltd: £341,921.68 (2023: £221,883.82)

World Host Group GmbH: £48,735.61 (2023: £8,152.24)

Total: £390,657.29 (2023: £230,036.06)

 

Office Expenses:

Colombiahosting S.A.S.: £14,155.25 (2023: £–)

 

Loan Interest Expense:

World Host Group GmbH: £322,274.68 (2023: £–)

 

All related party transactions are settled under normal commercial terms. The related balances arising from these transactions are disclosed separately in the intercompany payables and receivables notes.

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