REGISTERED NUMBER: 06786487 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

DSB.NET LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr A Chenevix-Trench

REGISTERED OFFICE:

3 Queensbridge

The Lakes

Northampton

Northamptonshire

NN4 7BF

REGISTERED NUMBER:

06786487 (England and Wales)

SENIOR STATUTORY AUDITOR:

Mr P Bott FCA

AUDITORS:

Mark J Rees LLP Chartered Accountants

and Statutory Auditors

Granville Hall

Granville Road

Leicester

LE1 7RU

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

75,685

89,041

75,685

89,041

CURRENT ASSETS

Debtors

6

733,059

820,210

Cash at bank and in hand

326,058

423,092

1,059,117

1,243,302

CREDITORS

Amounts falling due within one year

7

1,464,482

1,144,531

NET CURRENT (LIABILITIES)/ASSETS

(405,365

)

98,771

TOTAL ASSETS LESS CURRENT LIABILITIES

(329,680

)

187,812

CREDITORS

Amounts falling due after more than one year

8

610,726

666,754

NET LIABILITIES

(940,406

)

(478,942

)

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

10

(950,406

)

(488,942

)

SHAREHOLDERS' FUNDS

(940,406

)

(478,942

)

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 director and authorised for issue on 18 September 2025 and were signed by:

Mr A Chenevix-Trench - Director

1.	STATUTORY INFORMATION

dsb.net 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions concluded under normal market conditions.

Turnover

Revenue comprises the fair value of the sale of services excluding value added taxes. It is recognised evenly over the period of the term of the subscription contract.

Intangible assets

Intangible fixed assets, consisting of website development and computer software, are capitalised and amortised over their estimated useful life of between two and five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Taxation

Current tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transition that resulted in the tax expense (income).

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. Deferred tax assets and deferred tax liabilities are offset only if the group has a legally enforceable right to set off current tax assets against current tax liabilities, and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. 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.

Going concern

For the year ended 31 December 2024 the company made a loss before taxation of £470,097 (2023: £288,384), and as at this date, there were net current liabilities of £405,365 (2023: net current assets of £98,771) and overall net liabilities of £940,406 (2023: £478,942). Continuation of trade therefore depends on the continued support from the company's parent and group companies. Accordingly these accounts have been prepared on the Going Concern basis, as it is the director's opinion that with group support the company can continue to trade for the foreseeable future. This time frame being at least one year from the date of signing of the balance sheet. Should the company be unable to trade, adjustments would have to be made to reduce the assets to their recoverable amount, to provide for any further liabilities which may arise, and to reclassify fixed assets as current assets.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 32 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

243,665

AMORTISATION

At 1 January 2024

and 31 December 2024

243,665

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2024

and 31 December 2024

364,305

DEPRECIATION

At 1 January 2024

275,264

Charge for year

13,356

At 31 December 2024

288,620

NET BOOK VALUE

At 31 December 2024

75,685

At 31 December 2023

89,041

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

586,616

533,629

Other debtors

146,443

286,581

733,059

820,210

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

226,819

252,387

Amounts owed to group undertakings

943,736

572,770

Taxation and social security

114,249

144,090

Other creditors

179,678

175,284

1,464,482

1,144,531

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

610,726

666,754

9.	LEASING AGREEMENTS

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

2024

2023

£

£

Within one year

47,300

47,300

Between one and five years

141,900

189,200

189,200

236,500

10.

RESERVES

Retained

earnings

£

At 1 January 2024

(488,942

)

Deficit for the year

(461,464

)

At 31 December 2024

(950,406

)

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr P Bott FCA (Senior Statutory Auditor)

for and on behalf of Mark J Rees LLP Chartered Accountants

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party was Mr L Lynch by virtue of his majority shareholding in Darwin CX GmbH .

The ultimate holding company is DRWN Inc., incorporated in USA.