Digital Asset Services Ltd
Registered name: DIGITAL ASSET SERVICES LTD
Digital Asset Services Ltd made £3.7m revenue and a £8.9m loss in the year to 31 Mar 2025. read from filing text
Digital Asset Services Ltd’s revenue grew 9% to £3.7m in the year to 31 Mar 2025, with a loss of £8.9m and 51 employees. The company is classified under “other service activities” and is based in Cardiff; we hold 4 years of its filed accounts.
- Status
- Active
- Location
- Cardiff, Wales
- Age
- 8 yrs · since 2018
- Type
- Private Limited Company
Key figures
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 31 Mar 2022 | 31 Mar 2023 | 31 Mar 2024 | 31 Mar 2025 |
|---|---|---|---|---|
| Disclosure | No P&L | No P&L | Full P&Lread from filing text | Full P&Lread from filing text |
| Profit & loss | ||||
| Revenue (turnover) | — | — | £3.4m | £3.7m |
| Cost of sales | — | — | £547k | £739k |
| Gross profit | — | — | £2.9m | £3m |
| Operating profit | — | — | −£6.7m | −£7.9m |
| Profit before tax | — | — | −£8m | −£9.1m |
| Profit after tax | — | — | −£7.7m | −£8.9m |
| Profit (best available) | — | — | −£7.7m | −£8.9m |
| Staff costs | — | — | £6.3m | £7.1m |
| Employees (average) | 34 | 55 | 61 | 51 |
| Ratios | ||||
| Profit margin | — | — | −225.1% | −238.9% |
| Gross margin | — | — | 84% | 80.1% |
| Revenue per employee | — | — | £56.2k | £72.9k |
| Profit per employee | — | — | −£126k | −£174k |
| Growth (year on year) | ||||
| Revenue growth | — | — | — | ▲8.6% |
| Headcount growth | — | ▲61.8% | ▲10.9% | ▼16.4% |
| Balance sheet — indirect signals, not revenue | ||||
| Cash at bank | £2.4m | £14.8m | £8.6m | £1.8m |
| Net assets | £2m | −£2.9m | −£9.7m | −£18.1m |
| Fixed assets | £240k | £557k | £1.1m | £1.4m |
| Current assets | £3.3m | £16.6m | £10.5m | £3.3m |
| Debtors | £384k | £927k | £917k | £552k |
| Deferred income | £911k | £1.3m | £1.2m | £1m |
| Source | FullAccounts · bulk data Dec 2023 | FullAccounts · bulk data Dec 2023 | FullAccounts · bulk data Mar 2026 | FullAccounts · bulk data Mar 2026 |
How the business works
- Profit margin
- −238.9%
- Profit ÷ revenue.
- Gross margin
- 80.1%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £72.9k
- Revenue ÷ average employees.
- Profit per employee
- −£174k
- Profit ÷ average employees.
- Cash conversion
- —
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- 36.5%
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- 28.2%
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- 14.8%
- Money owed by customers. Low = customers pay quickly.
Balance-sheet signals
Year-on-year changes in filed balance-sheet items. They can hint at momentum (or investment) but are not revenue or profit and must not be read as such.
- Net assets
- —
- Now −£18.1m
- Cash at bank
- ▼79%
- Now £1.8m
- Headcount
- ▼16%
- Now 51
- Deferred income
- ▼12%
- Now £1m
- Fixed assets
- ▲19%
- Now £1.4m
Group structure
Minority corporate shareholders
- Foundation Capital X, L.P. (registered outside the UK register) 25–50%
From the Persons with Significant Control register (corporate controllers only).
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Sources
Latest figures from FullAccounts for the year to 31 Mar 2025 (profit −£8.9m), from the Companies House accounts bulk data published Mar 2026. Spotted an error? Request a correction.
Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.