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REGISTERED NUMBER: 12606940 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Lares Digital Ltd

Lares Digital Ltd (Registered number: 12606940)

Contents of the Financial Statements

for the Year Ended 31 December 2024

Page |

Company Information | 1 |

Chartered Accountants' Report | 2 |

Statement of Financial Position | 3 |

Notes to the Financial Statements | 5 |

Lares Digital Ltd

Company Information

for the Year Ended 31 December 2024

| DIRECTORS: | R E Mortreuil

| A J A Allen

| A R Manley

| N Smith

| Delenwel Limited

| REGISTERED OFFICE: | 42 Tamworth Road

| Croydon

| CR0 1XU

| REGISTERED NUMBER: | 12606940 (England and Wales)

| ACCOUNTANTS: | Ascendant Partners Limited

| Second Floor

| Curzon House

| 24 High Street

| Banstead

| Surrey

| SM7 2LJ

Chartered Accountants' Report to the Board of Directors

on the Unaudited Financial Statements of

Lares Digital Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lares Digital Ltd for the year ended 31 December 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Lares Digital Ltd, as a body, in accordance with the terms of our engagement letter dated 20 September 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Lares Digital Ltd and state those matters that we have agreed to state to the Board of Directors of Lares Digital Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lares Digital Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Lares Digital Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Lares Digital Ltd. You consider that Lares Digital Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Lares Digital Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ascendant Partners Limited

Second Floor

Curzon House

24 High Street

Banstead

Surrey

SM7 2LJ

9 July 2025

Lares Digital Ltd (Registered number: 12606940)

Statement of Financial Position

31 December 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 1,433 |  | 20,634 |  |

Tangible assets | 5 | 11,765 |  | 16,108 |  |

|  | 13,198 |  |  |  | 36,742 |  |

CURRENT ASSETS

Debtors | 6 | 30,722 |  | 32,526 |  |

Cash at bank | 4,086 |  | 7,186 |  |

34,808 |  | 39,712 |  |

CREDITORS

Amounts falling due within one year | 7 | 91,788 |  | 59,265 |  |

NET CURRENT LIABILITIES | (56,980 | ) | (19,553 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (43,782 | ) | 17,189 |  |

CAPITAL AND RESERVES

Called up share capital | 2,044 |  | 1,981 |  |

Share premium | 206,047 |  | 197,114 |  |

Retained earnings | (251,873 | ) | (181,906 | ) |

SHAREHOLDERS' FUNDS | (43,782 | ) | 17,189 |  |

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.

Lares Digital Ltd (Registered number: 12606940)

Statement of Financial Position - continued

31 December 2024

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 July 2025 and were signed on its behalf by:

R E Mortreuil - Director

Lares Digital Ltd (Registered number: 12606940)

Notes to the Financial Statements

for the Year Ended 31 December 2024

1. | STATUTORY INFORMATION

| Lares Digital Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Going concern

| The preparation of the financial statements requires the directors to make an assessment of the entity's ability to continue as a going concern. The directors consider it appropriate to prepare the financial statements on a going concern basis as the company has continued to receive financial support from a director.

| Revenue

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

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Platform development costs are being amortised evenly over their estimated useful life of three years from commencement of trading.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

| Computer equipment | - | 25% per annum on cost

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Lares Digital Ltd (Registered number: 12606940)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

2. | 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.

| 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.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 4 (2023 - 4 ) .

4. | INTANGIBLE FIXED ASSETS

| Platform

| development

| costs

£ |

| COST

| At 1 January 2024

| and 31 December 2024 | 67,144 |  |

| AMORTISATION

| At 1 January 2024 | 46,510 |  |

| Amortisation for year | 19,201 |  |

| At 31 December 2024 | 65,711 |  |

| NET BOOK VALUE

| At 31 December 2024 | 1,433 |  |

| At 31 December 2023 | 20,634 |  |

Lares Digital Ltd (Registered number: 12606940)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

5. | PROPERTY, PLANT AND EQUIPMENT

| Computer

| equipment

£ |

| COST

| At 1 January 2024 | 18,922 |  |

| Additions | 504 |  |

| At 31 December 2024 | 19,426 |  |

| DEPRECIATION

| At 1 January 2024 | 2,814 |  |

| Charge for year | 4,847 |  |

| At 31 December 2024 | 7,661 |  |

| NET BOOK VALUE

| At 31 December 2024 | 11,765 |  |

| At 31 December 2023 | 16,108 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Other debtors | 6 |  | 59 |  |

| Social security and other taxes | - |  | 1,751 |  |

| Deferred tax asset | 30,716 |  | 30,716 |  |

30,722 |  | 32,526 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Trade creditors | 3,947 |  | 15,896 |  |

| Amounts owed to related parties | 17,788 |  | 11,462 |  |

| Social security and other taxes | 1,467 |  | 351 |  |

| Other creditors | 1,344 |  | 202 |  |

| Director's loan account | 65,742 |  | 29,854 |  |

| Accruals and deferred income | 1,500 |  | 1,500 |  |

91,788 |  | 59,265 |  |

8. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2024 | 2023 |

£ | £ |

| Within one year | - |  | 893 |  |

Lares Digital Ltd (Registered number: 12606940)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

9. | RELATED PARTY DISCLOSURES

| Two of the directors of the company are also directors of Office Anyplace Limited. During the year Office Anyplace Limited recharged costs of £7,307 (2023: £7,119) to Lares Digital Ltd and Lares Digital Ltd charged costs to Office Anyplace Limited of £1,667 (2023: £255).

| At the balance sheet date, the amounts outstanding were as follows:

|  | 2024 |  |  | 2023 |

|  | Due from |  |  | Due to |  |  | Due from |  |  | Due to |

|  | £ |  |  | £ |  |  | £ |  |  | £ |

| Office Anyplace Limited |  |  | - |  |  | 17,788 |  |  | - |  |  | 11,462 |

10. | ULTIMATE CONTROLLING PARTY

| The controlling party is R E Mortreuil.