Patreon_DLC_Limited

Patreon DLC Limited

Director's report

For the year ended 31 December 2024

The director presents his report and the audited financial statements for the year ended 31 December 2024.

Principal activity

The principal activity of the ultimate parent entity, Patreon, Inc., is a platform that connects creators with their customers. The platform enables creators to share media, cultivate communities, and build businesses through a variety of monetization and business management capabilities. The Company provides administrative services to the ultimate parent entity, all of which are recharged to the parent entity.

Results and dividends

The profit for the year, after taxation, amounted to $12,087 (2023: profit of $8,037).

The director does not recommend the payment of a dividend (2023: $nil).

Director

The director who served during the year ended 31 December 2024 was:

Carlos Manning Cabrera

The director does not own any share capital of the Company. The director had equity awards outstanding of the parent company, Patreon, Inc., as at 31 December 2024. The director did not have more than 1% of fully diluted ownership in Patreon, Inc. as at 31 December 2024.

There were no changes in shareholdings between 31 December 2024 and the signing of the financial statements.

In accordance with the Constitution, the director retires by rotation and, being eligible, offer themselves for re-election.

Political contributions

The Company did not make any disclosable political donation in the current or prior financial year.

Going concern

In preparing the financial statements, the director considers it appropriate to continue to use the going concern assumption, which assumes the Company will have sufficient resources to enable it to meet its liabilities as they fall due, including adequate financial support. The Company made a profit of $12,087 for the year ended 31 December 2024 (2023: profit of $8,037) and had shareholders' funds of $20,125 as at that date (2023: $8,038). The director is satisfied with the Company's performance to date as it is still in its start-up phase.

Patreon, Inc., the ultimate parent company, has confirmed it will provide the necessary financial resources to meet the Company's obligations as and when they fall due, to the extent that financial resources are not otherwise available, for a minimum period of twelve months from the date of signing of these financial statements. The Company therefore continues to adopt the going concern basis in preparing its financial statements.

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Patreon DLC Limited

Events since the end of the year

There has been no significant events since the year end date.

Disclosure of information to auditor

The director at the time when this Director's report is approved has confirmed that:

•

so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware, and

•

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

Auditor

The auditor, PricewaterhouseCoopers, was appointed in accordance with section 485 of the Companies Act 2006.

Small companies note

In preparing this report, the director has taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.

….............................................

Carlos Manning Cabrera

Director

Date:

17/09/2025

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Patreon DLC Limited

Director's responsibilities statement

For the year ended 31 December 2024

The director is responsible for preparing the Director's report and the audited financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law, the director has elected to prepare the audited financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law, the director must not approve the audited financial statements unless he is 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, the director is required to:

•

select suitable accounting policies for the Company's financial statements and then apply them consistently;

•

make judgments and accounting estimates that are reasonable and prudent;

•

state whether applicable United Kingdom Accounting Standards, comprising FRS 102, have been followed, subject to any material departures disclosed and explained in the financial statements;

•

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The director is 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 to enable him to ensure that the financial statements comply with the Companies Act 2006. He is 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.

On behalf of the board

….............................................

Carlos Manning Cabrera

Director

Date: 17/09/2025

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Patreon DLC Limited

Independent auditors' report to the members of Patreon DLC Limited

Report on the audit of the financial statements

Opinion

In our opinion, Patreon DLC Limited's 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 (United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” Section 1A, and applicable law); and

•

have been prepared in accordance with the requirements of the Companies Act 2006.

We have audited the financial statements, included within the Annual Report and Financial Statements, which comprise:

•

the balance sheet as at 31 December 2024;

•

the statement of comprehensive income for the year then ended;

•

the statement of changes in equity for the year then ended; and

•

the notes to the financial statements, which include a description of the significant accounting policies.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (“ISAs (UK)”) and applicable law. Our responsibilities under ISAs (UK) are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Independence

We remained independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, which includes the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.

Conclusions relating to going concern

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.

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

However, because not all future events or conditions can be predicted, this conclusion is not a guarantee as to the company's ability to continue as a going concern.

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

Reporting on other information

The other information comprises all of the information in the Annual Report and Financial Statements other than the financial statements and our auditors' report thereon. The director is responsible for the other information. Our opinion on the financial statements does not cover the other information and, accordingly, we do not express an audit opinion or, except to the extent otherwise explicitly stated in this report, any form of assurance 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

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audit, or otherwise appears to be materially misstated. If we identify an apparent material inconsistency or material misstatement, we are required to perform procedures to conclude whether there is a material misstatement of the financial statements or a material misstatement of the other information. 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 based on these responsibilities.

With respect to the Director's Report, we also considered whether the disclosures required by the UK Companies Act 2006 have been included.

Based on our work undertaken in the course of the audit, the Companies Act 2006 requires us also to report certain opinions and matters as described below.

Director's Report

In our opinion, based on the work undertaken in the course of the audit, the information given in the Director's Report for the year ended 31 December 2024 is consistent with the financial statements and has been prepared in accordance with applicable legal requirements.

In light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we did not identify any material misstatements in the Director's Report.

Responsibilities for the financial statements and the audit

Responsibilities of the director for the financial statements

As explained more fully in the Director's Responsibilities Statement, the director is responsible for the preparation of the financial statements in accordance with the applicable framework and for being satisfied that they give a true and fair view. The director is also responsible for such internal control as they 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 director is 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 director either intends to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' 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 auditors' 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.

Our audit testing might include testing complete populations of certain transactions and balances, possibly using data auditing techniques. However, it typically involves selecting a limited 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Based on our understanding of the company and industry, we identified that the principal risks of non-compliance with laws and regulations related to tax legislation and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting inappropriate journal entries to manipulate financial results. Audit procedures performed by the engagement team included:

•

discussions with the management, in respect of risk of fraud and any known or suspected instances of non-compliance with laws and regulation and fraud and reviewing Board Minutes;

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•

confirmation with those charged with governance in respect of risk of fraud and any known or suspected instances of non-compliance with laws and regulation;

•

consideration of the overall control environment in place in the company, including procedures to achieve compliance with relevant laws and regulations; and

•

testing of journal entries posted throughout the period and at period end.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the FRC's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors' report.

Use of this report

This report, including the opinions, has been prepared for and only for the company's members as a body in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and for no other purpose. We do not, in giving these opinions, accept or assume responsibility for any other purpose or to any other person to whom this report is shown or into whose hands it may come save where expressly agreed by our prior consent in writing.

Other required reporting

Companies Act 2006 exception reporting

Under the Companies Act 2006 we are required to report to you if, in our opinion:

•

we have not obtained all the information and explanations we require for our audit; or

•

adequate accounting records have not been kept by the company, or returns adequate for our audit have not been received from branches not visited by us; or

•

certain disclosures of director's remuneration specified by law are not made; or

•

the financial statements are not in agreement with the accounting records and returns.

We have no exceptions to report arising from this responsibility.

Entitlement to exemptions

Under the Companies Act 2006 we are required to report to you if, in our opinion, the director was not entitled to: prepare financial statements in accordance with the small companies regime; take advantage of the small companies exemption in preparing the Director's Report; and take advantage of the small companies exemption from preparing a strategic report. We have no exceptions to report arising from this responsibility.

Shane Kennedy (Senior Statutory Auditor)

for and on behalf of PricewaterhouseCoopers

Chartered Accountants and Statutory Auditors

Dublin, Ireland

17/09/2025

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Patreon DLC Limited

Statement of comprehensive income

For the year ended 31 December 2024

2024

2023

Note

Turnover

38,601

35,132

Gross profit

38,601

35,132

Administrative expenses

(23,244)

(25,210)

Profit before tax

15,357

9,922

Tax on profit

(3,270)

(1,885)

Profit for the year

12,087

8,037

All amounts relate to continuing operations.

There was no other comprehensive income for 2024 (2023: $Nil).

The notes on pages 10 to 15 form part of these financial statements.

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Patreon DLC Limited

Balance sheet

As at

31 December 2024

2024

2023

Note

Current assets

Debtors: amounts falling due within one year

65,577

35,132

2,453

Cash at bank and in hand

68,030

35,132

Current liabilities

Creditors: amounts falling due within one year

(47,905)

(27,094)

Net current assets

20,125

8,038

Net assets

20,125

8,038

Capital and reserves

Called up share capital

Profit and loss account

20,124

8,037

Shareholders' funds

20,125

8,038

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

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

Carlos Manning Cabrera

Director

Date:

17/09/2025

The notes on pages 10 to 15 form part of these financial statements.

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Patreon DLC Limited

Statement of changes in equity

For the year ended 31 December 2024

Called-up share capital

Profit and loss account

Total equity

At 1 January 2024

8,037

8,038

Comprehensive income for the year

Profit for the year

12,087

At 31 December 2024

20,124

20,125

For the year ended 31 December 2023

Called-up share capital

Profit and loss account

Total equity

At 1 January 2023

Comprehensive income for the year

Profit for the year

8,037

At 31 December 2023

8,037

8,038

The notes on pages 10 to 15 form part of these financial statements.

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Patreon DLC Limited

Notes to the financial statements

For the year ended 31 December 2024

General information

Patreon DLC Limited is a private company limited by shares incorporated in the United Kingdom under the number 11430249 and with a registered address at 27 Old Gloucester Street, London, WC1N 3AX, England. The Company was incorporated on 25 June 2018. Patreon DLC Limited is a subsidiary of Patreon, Inc. The principal activity of the ultimate parent entity, Patreon, Inc., is a platform that connects creators with their customers. The platform enables creators to share media, cultivate communities, and build businesses through a variety of monetization and business management capabilities. The Company provides administrative services to the ultimate parent entity, all of which are recharged to the parent entity.

Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The Company qualifies as a small company as defined by Section 382 of the Act, in respect of the financial year and has applied the rules of the ‘Small Companies Regime' in accordance with section 280C of the Act and Section 1A of FRS 102.

Accordingly, the Company has availed itself of certain disclosure exemptions including:

•

presentation of a statement of cash flows; and

•

disclosure of the Company's key management personnel compensation.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see Note 3).

The financial statements are presented in USD ($).

The following principal accounting policies have been applied:

2.2 Going concern

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Patreon DLC Limited

Notes to the financial statements (continued)

For the year ended 31 December 2024

of these financial statements. The Company therefore continues to adopt the going concern basis in preparing its financial statements.

2.3 Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is USD.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each financial year end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at financial year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the statement of comprehensive income.

2.4 Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

•

the amount of revenue can be measured reliably;

•

it is probable that the Company will receive the consideration due under the contract; and

•

the stage of completion of the contract at the end of the reporting period can be measured reliably.

2.5 Taxation and deferred taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the

financial year and is calculated using the tax rates and laws that have been enacted or substantively enacted at the balance sheet date.

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Patreon DLC Limited

Notes to the financial statements (continued)

For the year ended 31 December 2024

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the Company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.6 Financial instruments

The Company has chosen to apply the provisions of Sections 11 and 12 of FRS 102 to account for all of its financial instruments.

Basic financial assets, including trade and other debtors and cash and cash equivalents, are initially recognised at transaction price (including transaction costs) and are subsequently measured at amortised cost using the effective interest method, unless the arrangement constitutes a financing transaction. Where the arrangement constitutes a financing transaction, the resulting financial asset is initially measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument.

At the end of each financial year, financial assets measured at amortised cost are assessed for objective evidence of impairment. If there is objective evidence that a financial asset measured at amortised cost is impaired, an impairment loss is recognised in profit or loss. The impairment loss is the difference between the financial asset's carrying amount and the present value of the financial asset's estimated cash inflows discounted at the asset's original effective interest rate.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, (b) substantially all the risks and rewards of ownership of the financial asset are transferred to another party, or (c) control of the financial asset has been transferred to another party who has the practical ability to unilaterally sell the financial asset to an unrelated third party without imposing additional restrictions.

Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price and are subsequently measured at amortised cost using the effective interest method, unless the arrangement constitutes a financing transaction. Where the arrangement constitutes a financing transaction, the resulting financial liability is initially measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

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

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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Patreon DLC Limited

Notes to the financial statements (continued)

For the year ended 31 December 2024

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is an 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.

2.7 Cash at bank and in hand

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgments made in the process of preparing the entity financial statements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

There have been no judgments and estimates used when preparing the Company's financial statements.

Turnover

An analysis of turnover by class of business is as follows:

2024

2023

Rendering of services

35,132

38,601

All sales are attributable to intercompany sales from the United Kingdom to the United States.

Auditor's remuneration

Auditor's remuneration was $14,495 for the financial year (2023: $19,868).

Employees

The Company has no employees other than the director, who did not receive any remuneration (2023: $Nil).

Director's remuneration

The director did not receive any remuneration during the financial year (2023: $Nil).

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Patreon DLC Limited

Notes to the financial statements (continued)

For the year ended 31 December 2024

Tax on profit

2024

2023

Corporation tax

Current tax on profit for the financial year

1,885

3,270

Total current tax

1,885

3,270

Factors affecting tax charge for the financial year

The tax assessed for the year is lower than (2023: the same as) the standard rate of corporation tax in the UK of 25% (2023 - 19%). The differences are explained below:

2024

2023

Profit before tax

9,922

15,357

Profit multiplied by standard rate of corporation tax in the UK of 25% (2023 - 19%)

3,839

1,885

Effects of:

Marginal relief

(569)

Total tax charge for the financial year

1,885

3,270

Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Debtors: Amounts falling due within one year

2024

2023

65,577

35,132

Amounts owed by group undertakings

Amounts owed by group undertakings are unsecured, interest-free and repayable on demand.

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Patreon DLC Limited

Notes to the financial statements (continued)

For the year ended 31 December 2024

10.

Cash at bank and in hand

2024

2023

2,453

Cash at bank and in hand

11.

Creditors: Amounts falling due within one year

2024

2023

Trade creditors

18,743

Amounts owed to group undertakings

4,309

1,534

Corporation tax

3,270

1,885

Accruals

21,583

23,675

27,094

47,905

Amounts owed to group undertakings are unsecured, interest-free and repayable on demand.

The terms of the accruals are based on the underlying contracts.

12.

Share capital

2024

2023

Allotted, called up and fully paid

1 (2023 - 1) Ordinary share of $1.00

13.

Capital commitments

The Company had no material capital commitments as at 31 December 2024.

14.

Related party transactions

The Company has availed of the exemptions in FRS102 Section 33, Paragraph 33.1A, which allows nondisclosure of transactions between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.

15.

Post balance sheet events

There have been no significant events since the year end date.

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