BB2 DIGITAL AND TECHNOLOGY SERVICES LTD

• ⚠

  Material uncertainty over going concern

  The company reported a net loss during the year of £24,412,202 (2023: £29,775,918) and overall showed a net liabilities position of £542,160 (2023: net assets £13,370,042). The directors have assessed the company's ability to continue as a going concern and considered all relevant factors, including its financial position, cash flow forecasts, and funding arrangements from its parent company. However, there is an inherent material uncertainty related to the company's ability to achieve forecast revenue, free cash flows and continued financial support. The company is dependent on continued financial support from its parent company to meet its liabilities as they fall due. At the time of approving the financial statements, the company has obtained confirmation from the immediate parent company Boubyan Digital Computer Programming & Operation Company that the parent company will not demand repayment of the year end intercompany creditor of £15.9m due to it by the company until the company has adequate financial resources to repay the amount, and that the company will receive financial support to the fullest extent including covering the continued expected losses and potential asset impairment to continue its operational activities for the foreseeable future, and for at least 12 months from the date of approval of these financial statements. While this confirmation is not legally binding, it indicates the parent company's intention. Based on this commitment and the directors' assessment, the financial statements have been prepared on a going concern basis, but with disclosure of this material uncertainty.

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

Accounting basis

IFRS

Reporting scope

Standalone (parent only)

Auditor

UHY Hacker Young LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The company reported a net loss during the year of £24,412,202 (2023: £29,775,918) and overall showed a net liabilities position of £542,160 (2023: net assets £13,370,042). The directors have assessed the company's ability to continue as a going concern and considered all relevant factors, including its financial position, cash flow forecasts, and funding arrangements from its parent company. However, there is an inherent material uncertainty related to the company's ability to achieve forecast revenue, free cash flows and continued financial support. The company is dependent on continued financial support from its parent company to meet its liabilities as they fall due. At the time of approving the financial statements, the company has obtained confirmation from the immediate parent company Boubyan Digital Computer Programming & Operation Company that the parent company will not demand repayment of the year end intercompany creditor of £15.9m due to it by the company until the company has adequate financial resources to repay the amount, and that the company will receive financial support to the fullest extent including covering the continued expected losses and potential asset impairment to continue its operational activities for the foreseeable future, and for at least 12 months from the date of approval of these financial statements. While this confirmation is not legally binding, it indicates the parent company's intention. Based on this commitment and the directors' assessment, the financial statements have been prepared on a going concern basis, but with disclosure of this material uncertainty.”

Group structure

1. BB2 DIGITAL AND TECHNOLOGY SERVICES LTD · parent
   1. The Bank of London and The Middle East plc · UK

Significant events

• “The intercompany loan from Boubyan Digital Computer Programming & Operation Company SPC has increased from £15.9 million as at the year ended 31 December 2024 to £25.6 million as at 31 May 2025.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

2

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.