DARK WAVES INFOSEC LTD

DARK WAVES INFOSEC LTD - Company Information

2023-01-012023-12-312023-12-31false12133885DARK WAVES INFOSEC 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Registered Number
12133885
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

DARK WAVES INFOSEC LTD

Company Information
for the year from 1 January 2023 to 31 December 2023


Directors	Shaun Colley
	Pablo Sisca


Registered Address	71-75 Shelton Street
	Covent Garden
	London
	WC2H 9JQ


Registered Number	12133885 (England and Wales)

DARK WAVES INFOSEC LTD

Balance Sheet as at
31 December 2023

	Notes	2023		2022
		£	£	£	£
Fixed assets
Intangible assets	5		2,332,869		226,129
Tangible assets	6		18,754		17,178
Investments			1		1
			2,351,624		243,308
Current assets
Debtors	7	224,582		349,560
Cash at bank and on hand		211,515		389,161
		436,097		738,721
Creditors amounts falling due within one year	8	(148,587)		(209,679)
Net current assets (liabilities)			287,510		529,042
Total assets less current liabilities			2,639,134		772,350
Provisions for liabilities	9		(4,313)		-
Net assets			2,634,821		772,350
Capital and reserves
Called up share capital			2		2
Revaluation reserve			2,332,869		226,129
Profit and loss account			301,950		546,219
Shareholders' funds			2,634,821		772,350

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Board of Directors on 4 January 2024, and are signed on its behalf by:

Pablo Sisca
Director

Shaun Colley
Director

Registered Company No. 12133885

DARK WAVES INFOSEC LTD

Notes to the Financial Statements
for the year ended 31 December 2023

1.	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Compliance with applicable reporting framework
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3.	Accounting policies

	Functional and presentation currency policy
	The financial statements are presented in sterling, which is the functional currency of the company.

	Turnover policy
	Turnover represents the value, excluding value added tax, of services supplied to customers during the year.

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Office Equipment	4

	Intangible assets policy
	Intangible fixed assets represent cryptocurrency assets owned by the company, and are initially held at cost. Such assets are subsequently restated to their market value as at the balance sheet date.

	Taxation policy
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax policy
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax policy

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Foreign currency translation and operations policy
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation and operations policy

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Investments policy
	Investments in subsidiaries are measured at cost less any accumulated impairment losses.

	Employee benefits policy
	Contributions to defined contribution plans are expensed in the period to which they relate.

4.	Employee information


		2023		2022
	Average number of employees during the year	9		8

5.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 January 23	226,129	226,129
Revaluations	2,106,740	2,106,740
At 31 December 23	2,332,869	2,332,869
Net book value
At 31 December 23	2,332,869	2,332,869
At 31 December 22	226,129	226,129

6.	Property, plant and equipment

	Office Equipment	Total
	£	£
Cost or valuation
At 01 January 23	24,789	24,789
Additions	9,813	9,813
At 31 December 23	34,602	34,602
Depreciation and impairment
At 01 January 23	7,611	7,611
Charge for year	8,237	8,237
At 31 December 23	15,848	15,848
Net book value
At 31 December 23	18,754	18,754
At 31 December 22	17,178	17,178

7.	Debtors

	2023	2022
	£	£
Trade debtors / trade receivables	193,812	326,052
Amounts owed by group undertakings	18,292	18,292
Other debtors	1,300	-
Prepayments and accrued income	11,178	5,216
Total	224,582	349,560

8.	Creditors within one year

	2023	2022
	£	£
Trade creditors / trade payables	14,544	-
Taxation and social security	129,829	207,444
Other creditors	1,092	1,235
Accrued liabilities and deferred income	3,122	1,000
Total	148,587	209,679

9.	Provisions for liabilities

	2023	2022
	£	£
Net deferred tax liability (asset)	4,313	-
Total	4,313	-