Dataseat Ltd

	Page
Company Information	1
Strategic Report	2—3
Directors' Report	4
Independent Auditor's Report	5—7
Income Statement	8
Statement of Financial Position	9
Statement of Changes in Equity	10
Notes to the Financial Statements	11—16

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Dataseat Ltd

Strategic Report

For The Year Ended 31 December 2024

Strategic Report

The directors present their strategic report for the year ended 31 December 2024.

Review of the Business

Business overview

Dataseat is a mobile advertising technology company specialising in demand-side platform (DSP) solutions that enable advertisers to buy mobile in-app inventory using contextual targeting, without reliance on personal data. Our platform serves mobile app advertisers across gaming, entertainment, e-commerce, and other high-engagement verticals.

Business model

We operate a programmatic DSP model, generating revenue primarily through a percentage of advertiser spend (media buying margin). Dataseat creates value by delivering efficient, privacy-first ad targeting, helping advertisers achieve better return on ad spend while complying with evolving data privacy regulations.

Structure

Dataseat operates as a subsidiary of Verve Group. The business is organised under core functions including Product & Engineering, Operations, Client Services, Sales, and Finance. Strategic partnerships with supply-side platforms (SSPs) and attribution partners support our market reach and campaign measurement capabilities.

Strategic objectives

• Short term:

o Expand advertiser base in high-growth verticals such as app brands and gaming.

o Enhance platform capabilities with advanced contextual targeting features.

o Maintain high campaign performance and client satisfaction during ongoing privacy changes.

• Long term:

o Strengthen position as a leading privacy-first DSP in the mobile ad ecosystem.

o Expand into new geographic markets and emerging ad formats (e.g., CTV).

o Drive sustainable revenue growth through innovation and operational efficiency.

Development and performance

Operational performance

During the period, Dataseat focused on enhancing campaign performance and operational efficiency. Key initiatives included:

• Upgrading contextual targeting algorithms to improve relevance and click-through rates.

• Streamlining onboarding processes for new advertisers to reduce setup times.

• Expanding our supply partnerships to access higher-quality mobile inventory.

Strategic developments

No acquisitions or divestments occurred during the period. Strategic investment was directed towards product innovation, particularly in on-device processing to align with evolving privacy requirements. Dataseat also deepened integration with Verve Group’s infrastructure, creating operational synergies in reporting, sales, and technical support.

Market position

Despite a competitive ad tech environment, Dataseat maintained its reputation as a leading privacy-first DSP for mobile in-app advertising. Our focus on contextual targeting has positioned us to benefit from the industry’s shift away from device identifiers.

Non-financial factors

• ESG considerations: Continued to promote privacy-by-design principles, reducing reliance on personal data.

• Staff developments: Strengthened the Operations and Engineering teams with strategic hires to support growth.

• Innovation: Introduced automated optimisation tools, reducing manual campaign management and improving ROI for clients.

Financial key performance indicators

The past year has been marked by sustained growth in revenue and is the first profitable year the company has had.

The group's key financial performance indicators during the year were:

	Year ended 31 Dec 2024	Year ended 31 Dec 2023	Change %
Revenue	£34.4m	£19.7m	+75%
Profit/ (Loss) for the year	£4.8m	£(486.5K)	+1092%
Cash and cash equivalents	£1.7m	£2.4m	-26%

The company’s revenue demonstrated robust growth of +75%, reaching £34.4 million for the year ended 31 December 2024.

Closing cash and cash equivalents saw a fall of -26%, finishing the year at £1.7 million. Management feels although cash fell in comparison to the prior year the cash forecast remains positive.

...CONTINUED

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Dataseat Ltd

Strategic Report (continued)

For The Year Ended 31 December 2024

Review of the Business - continued

Other KPIs

• Advertiser growth: Increased number of active advertisers compared to prior year.

• Retention rate: Maintained a high client retention rate, reflecting strong satisfaction and campaign performance.

• Productivity: Revenue per employee improved year-over-year.

Principal Risks and Uncertainties

• Market and regulatory changes: Shifts in privacy laws and platform policies that could affect targeting capabilities.

• Competition: Intense competition from other DSPs and ad tech providers could impact market share and margins.

• Technology and platform reliability: System outages or failures could disrupt campaign delivery and harm client trust.

• Client concentration: A high dependency on a small number of major clients could increase revenue volatility.

• Operational scaling: Rapid growth could strain operational capacity and service quality.

• Macroeconomic factors: Economic downturns may reduce advertiser budgets, impacting revenues.

Mitigation strategies

• Invest in R&D for privacy-first and contextual targeting solutions to stay ahead of regulatory and platform changes.

• Diversify client portfolio across industries and regions to reduce concentration risk.

• Maintain robust infrastructure, redundancy systems, and regular platform stress testing.

• Continue to strengthen brand positioning through client service excellence and performance outcomes.

• Monitor macroeconomic trends closely and adapt pricing or sales strategies to retain competitiveness.

On behalf of the board

Mr P Hayton

Director

25 September 2025

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Dataseat Ltd

Company No. 11530895

Directors' Report For The Year Ended 31 December 2024

Directors' Report

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

Principal Activity

The principal activity of the company in the year under review was that of information technology consultancy and licensing activities.

Directors

The directors who held office during the year were as follows:

Mr P Hayton

Mr D J Philippson

Mr S Sondhi

Statement of Directors' Responsibilities

The directors are responsible for preparing the Strategic Report, the Directors' 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

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.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Independent Auditors

The auditors, Nichols & Co (Accountancy) Ltd, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Mr P Hayton

Director

25 September 2025

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Independent Auditor's Report

to the Members of

Dataseat Ltd

Independent Auditor's Report

Opinion

We have audited the financial statements of Dataseat 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, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

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 entity's ability to continue as a going concern for a period of at least 12 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. In connection with our audit of the financial statements, 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 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 the audit:

the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

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Independent Auditor's Report (continued)

to the Members of

Dataseat Ltd

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 Strategic Report or 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:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records or returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 4, 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:

enquiry of management, those charged with governance and the company’s legal advisers (where deemed necessary);
enquiry of staff in compliance functions to identify any instances of non-compliance with laws and regulations;
reviewing minutes of meetings of those charged with governance;
reviewing accounts disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use Of Our Report

This report is made solely 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 that we are required to state to them in an auditor's report 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.

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Independent Auditor's Report (continued)

to the Members of

Dataseat Ltd

Steve Nichols (Senior Statutory Auditor)

for and on behalf of Nichols & Co (Accountancy) Ltd , Statutory Auditor

25 September 2025

Nichols & Co (Accountancy) Ltd

Unit 7 Mulberry Place

Pinnell Road

Eltham

London

SE9 6AR

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Dataseat Ltd

Income Statement

For The Year Ended 31 December 2024

Income Statement

		2024	2023
	Notes	£	£
TURNOVER	3	34,434,292	19,671,100
Cost of sales		(24,933,037 )	(15,830,824 )

GROSS PROFIT		9,501,255	3,840,276

Administrative expenses		(4,843,677 )	(4,343,299 )
Other operating income		204,815	71,940

OPERATING PROFIT/(LOSS)	4	4,862,393	(431,083 )
Other interest receivable and similar income		693	-
Interest payable and similar charges		(36,265 )	(55,453 )

PROFIT/(LOSS) BEFORE TAXATION		4,826,821	(486,536 )
Tax on Profit/(loss)	9	(992,413 )	-

PROFIT/(LOSS) AFTER TAXATION BEING PROFIT/(LOSS) FOR THE FINANCIAL YEAR		3,834,408	(486,536 )

The notes on pages 11 to 16 form part of these financial statements.

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Dataseat Ltd

Statement of Financial Position

As At 31 December 2024

Statement of Financial Position

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	10		17,675		26,563
Fixed Assets Investments	11		4,500		4,500

			22,175		31,063
CURRENT ASSETS
Debtors	12	9,481,635		4,483,588
Cash at bank and in hand		1,735,794		2,351,643

		11,217,429		6,835,231
Creditors: Amounts Falling Due Within One Year	13	(7,027,239 )		(6,488,337 )

NET CURRENT ASSETS (LIABILITIES)			4,190,190		346,894

TOTAL ASSETS LESS CURRENT LIABILITIES			4,212,365		377,957

NET ASSETS			4,212,365		377,957

CAPITAL AND RESERVES
Called up share capital	14		160		160
Share premium account			2,817,091		2,817,091
Income Statement			1,395,114		(2,439,294 )

SHAREHOLDERS' FUNDS			4,212,365		377,957

The financial statements were approved by the board of directors on 25 September 2025 and were signed on its behalf by:

Mr P Hayton

Director

The notes on pages 11 to 16 form part of these financial statements.

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Dataseat Ltd

Statement of Changes in Equity

For The Year Ended 31 December 2024

Statement of Changes in Equity

	Share Capital	Share Premium	Income Statement	Total
	£	£	£	£
As at 1 January 2023	160	2,817,091	(1,952,758 )	864,493
Loss for the year and total comprehensive income	-	-	(486,536 )	(486,536)

As at 31 December 2023 and 1 January 2024	160	2,817,091	(2,439,294 )	377,957


Profit for the year and total comprehensive income	-	-	3,834,408	3,834,408

As at 31 December 2024	160	2,817,091	1,395,114	4,212,365

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Dataseat Ltd

Notes to the Financial Statements

For The Year Ended 31 December 2024

Notes to the Financial Statements

1. General Information

Dataseat Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11530895 . The registered office is Flat 2 33 Hyde Park Square, London, United Kingdom, W2 2NW.

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

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The company has taken advantage of the exemption available under FRS 102 from preparing a cash flow statement, on the grounds that it is a wholly owned subsidiary and is included in the consolidated financial statements of its parent, Verve Group SE, which are publicly available.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Significant judgements and estimations

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates if necessary. It also requires management to exercise judgement in applying the company accounting policies.

2.4. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% on reducing balance
Fixtures & Fittings	Straight line over 4 years
Computer Equipment	Straight line over 4 years

2.6. Leasing and Hire Purchase Contracts

Assets acquired under hire purchase contracts are included in tangible fixed assets are depreciated over their estimated useful lives. The obligations net of future charges are included in creditors.

Lease payments are apportioned between finance charges and reduction of the lease obligation using the effective rate of interest method. So as to achieve a constant rate of interest on the remaining balance of the liabilities. Finance charges are deducted and charged to the profit and loss when they are incurred.

2.7. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

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Dataseat Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.8. Financial Instruments

The company has elected to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues of FRS 102 to all of its financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement consitutes a financing transaction, where the transaction is measured at the present value if the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial instruments

Financial liabilities and equity instruments are classified 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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditor are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently at amortised cost using the effective interest method.

2.9. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.10. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing 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. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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Dataseat Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.11. Pensions

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. Turnover

Analysis of turnover by class of business is as follows:

	2024	2023
	£	£
Media buying margin	34,434,292	19,671,100

Analysis of turnover by geographical market is as follows:

	2024	2023
	£	£
United Kingdom	214,594	1,357,020
Europe	574,731	707,491
North America	33,045,851	15,779,267
Asia	599,116	1,832,100
Rest of the world	-	16,854

	34,434,292	19,692,732

4. Operating Profit/(loss)

The operating profit/(loss) is stated after charging:

	2024	2023
	£	£
Bad debts	-	1,521
Depreciation of tangible fixed assets	11,193	12,049

5. Auditor's Remuneration

Remuneration received by the company's auditors and their associates during the year was as follows:

	2024	2023
	£	£
Audit Services
Audit of the company's financial statements	15,000	17,000

6. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2024	2023
	£	£
Wages and salaries	1,652,783	1,512,528
Social security costs	270,899	240,145
Other pension costs	22,749	21,128

	1,946,431	1,773,801

7. Average Number of Employees

Average number of employees, including directors, during the year was: 17 (2023: 15)

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Dataseat Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

8. Directors' remuneration

	2024	2023
	£	£
Emoluments	394,674	368,835
Company contributions to money purchase pension schemes	2,642	2,642

	397,316	371,477

The number of directors to whom retirement benefits were accruing was as follows:

	2024		2023
Money purchase pension schemes	2		2

Information regarding the highest paid director was as follows:

	2024	2023
	£	£
Emoluments	214,667	200,000
Company contributions to money purchase pension schemes	1,321	1,321

	215,988	201,321

9. Tax on Profit

	Tax Rate		2024	2023
The tax charge on the profit/(loss) for the year was as follows:
	2024	2023	£	£
Current tax
UK Corporation Tax	25.0%	-	992,413	-


Total tax charge for the period			992,413	-


The actual charge for the year can be reconciled to the expected charge/(credit) for the year based on the profit/(loss) and the standard rate of corporation tax as follows:
			2024	2023
			£	£
Profit before tax			4,826,821	(486,536)

Tax on profit at 25% (UK standard rate)			-	-
Goodwill/depreciation not allowed for tax			11,193	-
Expenses not deductible for tax purposes			68,255	-
Tax losses utilised			910,660	-
Capital allowances			2,305	-

Total tax charge for the period			992,413	-

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Dataseat Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

10. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 January 2024	3,516	4,081	48,822	56,419
Additions	-	375	1,930	2,305

As at 31 December 2024	3,516	4,456	50,752	58,724

Depreciation
As at 1 January 2024	1,887	2,814	25,155	29,856
Provided during the period	407	539	10,247	11,193

As at 31 December 2024	2,294	3,353	35,402	41,049

Net Book Value
As at 31 December 2024	1,222	1,103	15,350	17,675

As at 1 January 2024	1,629	1,267	23,667	26,563

11. Fixed Assets Investments

	Other
	£
Cost
As at 1 January 2024	4,500

As at 31 December 2024	4,500

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	4,500

As at 1 January 2024	4,500

12. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	3,562,027	1,041,227
Amounts owed by group undertakings	4,976,519	3,115,060
Other debtors	943,089	327,301

	9,481,635	4,483,588

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Dataseat Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

13. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	4,338,629	2,330,925
Amounts owed to group undertakings	109,582	1,365,831
Other creditors	4,440	19,896
Corporation tax	992,413	-
Taxation and social security	59,025	63,489
Accruals and deferred income	1,523,150	2,708,196

	7,027,239	6,488,337

14. Share Capital

	2024	2023
Allotted, called up and fully paid	£	£
1,087,158 Ordinary Shares of £ 0.0001 each	109	109

Preference Shares

	2024	2023
Allotted, called up and fully paid	£	£
512,837 Seed Shares of £ 0.0001 each	51	51

15. Pension Commitments

The company operates a defined contribution pension scheme.

During the year the charge to the income statement in respect of defined contibution pension schemes was £22,749 (2023: £18,486).

At the statement of financial position date contributions of £4,440 (2023: £4,161) were due to the fund and are included in creditors.

16. Related Party Disclosures

At the balance sheet date the Company owed £nil (2023:£832,058) to Verve Holding GMBH, the parent company. This amount includes interest, and interest is charged at 6.25% per annum.

Included within creditors due within one year there is amount owed to group companies, Smaato Inc of £75,671 (2023:£99,387) and to Verve Group Europe GMBH of £11,017 (2023:£434,385) and Platform 161 B.V. of £22,895 (2023: £nil).

Included within debtors due within one year there is an amount owed by group company Verve Group Inc of £4,976,519 (2023:£3,115,060)

These balances are interest free and are repayable on demand.

Transactions with other members of the group have been carried out at arms length.

17. Controlling Parties

The company's ultimate controlling party is Verve Holding GmbH by virtue of their 100% holding in the share capital of the company.

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