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REGISTERED NUMBER: 04014542 (England and Wales)















REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

DATA BASE FACTORY UK LIMITED

DATA BASE FACTORY UK LIMITED (REGISTERED NUMBER: 04014542)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022




Page

Company Information 1

Report of the Directors 2 to 3

Report of the Independent Auditors 4 to 6

Income Statement 7

Other Comprehensive Income 8

Statement of Financial Position 9

Statement of Changes in Equity 10

Notes to the Financial Statements 11 to 17


DATA BASE FACTORY UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: Grupo Konectanet SLU
G P A Langle





REGISTERED OFFICE: 4-6 Dudley Road
Tunbridge Wells
Kent
TN1 1LF





REGISTERED NUMBER: 04014542 (England and Wales)





AUDITORS: Constantin
Statutory Auditors
25 Hosier Lane
London
EC1A 9LQ

DATA BASE FACTORY UK LIMITED (REGISTERED NUMBER: 04014542)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2022

The directors present their report with the financial statements of the company for the year ended 31 December 2022.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of direct telephone marketing.

DIVIDENDS
No dividends will be distributed for the year ended 31 December 2022.

DIRECTORS
Grupo Konectanet SLU and G P A Langle were appointed as directors after 31 December 2022 but prior to the date of this report.

Comdata Holding France and M Labarre ceased to be directors after 31 December 2022 but prior to the date of this report.

RUSSO-UKRAINIAN WAR STATEMENT
The board is following developments in the ongoing Russo-Ukrainian War with the utmost attention. As part of their response to the war, economic sanctions have been imposed by the United Kingdom, European Union, United States, and others on the Russian Federation and some of its nationals, and countersanctions have also been imposed by Russia. The impact of the conflict and these sanctions cannot be precisely assessed at this stage. However, the effect on Data Base Factory Ltd is expected to remain limited. No impact of these events has been reported in the accounts for the year ended 31 December 2022.

During this period we continued with our strategy of investing in people. For the third year in succession, we navigated yet more uncertainty in the economy with confidence and returned a strong balance sheet at the end of the year.

RISK MANAGEMENT
The company is exposed to many kinds of risk and takes various steps in order to mitigate those risks. In particular:

Liquidity risk The company, together with its wider group, maintains sufficient funds for its operations.
Interest rate risk The company does not believe it is exposed to significant interest rate risk.
Exchange rate risk The company transacts in sterling where possible. Where this is not possible, it mitigates
exchange rate risk by matching cash inflows and outflows in the same currency wherever
possible.
Credit risk The company has various policies for managing credit risk, including the use of credit
checks and credit limits.

STRATEGIC REPORT
The company is a member of an ineligible group within Part 15 of the Companies Act 2006 and is not required to prepare a strategic report in accordance with section 414B(b) of the Act.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-state whether applicable accounting standards 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.


DATA BASE FACTORY UK LIMITED (REGISTERED NUMBER: 04014542)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2022

STATEMENT OF DIRECTORS' RESPONSIBILITIES - continued
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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Constantin, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





G P A Langle - Director


29 September 2023

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
DATA BASE FACTORY UK LIMITED

Opinion
In our opinion the financial statements of Data Base Factory UK Limited (the 'company'):
- give a true and fair view of the state of the company's affairs as at 31st December 2022 and of its loss for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK".
- have been prepared in accordance with the requirements of the Companies Act 2006.

We have audited the financial statements which comprise:
- the statement of comprehensive income
- the statement of financial position
- the statement of changes in equity;
- the statement of accounting policies; and
- the related notes 1 to 14

The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 101 "Reduced Disclosure Framework" (United Kingdom Generally Accepted Accounting Practice).



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 Financial Reporting Council's (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 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.

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.

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 course of 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.


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
DATA BASE FACTORY UK LIMITED

Responsibilities of directors
As explained more fully in the directors' responsibilities statement, 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.

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 auditor's report.

Extent to which the audit was considered capable of detecting irregularities, including fraud
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.

We considered the nature of the company's industry and its control environment, and reviewed the company's documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management and the directors about their own identification and assessment of the risks of irregularities, including those that are specific to the company's business sector.

We obtained an understanding of the legal and regulatory frameworks that the company operates in, and identified the key laws and regulations that:
" had a direct effect on the determination of material amounts and disclosures in the financial statements. These included UK Companies Act, tax legislation; and
" do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty.

We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.
In addition to the above, our procedures to respond to the risks identified included the following:
- reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
- enquiring of management, internal audit and external legal counsel concerning actual and potential litigation and claims, and instances of non-compliance with laws and regulations; and
- reading minutes of meetings of those charged with governance and internal audit reports.

Report on other legal and regulatory requirements

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 the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

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 any material misstatements in the strategic report or the directors' report.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
DATA BASE FACTORY UK LIMITED


Matters on which we are required to report by exception
Under the Companies Act 2006 we are required to report in respect of the following matters 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 and 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.

We have nothing to report in respect of these matters.

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 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.




Thierry de Gennes ACA (Senior Statutory Auditor)
for and on behalf of Constantin
Statutory Auditors
25 Hosier Lane
London
EC1A 9LQ

29 September 2023

DATA BASE FACTORY UK LIMITED (REGISTERED NUMBER: 04014542)

INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2022

2022 2021
Notes £    £   

TURNOVER 3 5,733,798 5,745,580

Cost of sales (4,546,007 ) (4,336,453 )
GROSS PROFIT 1,187,791 1,409,127

Administrative expenses (1,788,335 ) (1,624,119 )
OPERATING LOSS 5 (600,544 ) (214,992 )
LOSS BEFORE TAXATION (600,544 ) (214,992 )

Tax on loss 6 - 21,703
LOSS FOR THE FINANCIAL YEAR (600,544 ) (193,289 )

DATA BASE FACTORY UK LIMITED (REGISTERED NUMBER: 04014542)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2022

2022 2021
Notes £    £   

LOSS FOR THE YEAR (600,544 ) (193,289 )


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

(600,544

)

(193,289

)

DATA BASE FACTORY UK LIMITED (REGISTERED NUMBER: 04014542)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2022

2022 2021
Notes £    £   
FIXED ASSETS
Tangible assets 7 52,087 48,039

CURRENT ASSETS
Debtors 8 1,457,591 1,839,531
Cash at bank and in hand 313,202 805,811
1,770,793 2,645,342
CREDITORS
Amounts falling due within one year 9 (902,842 ) (1,172,799 )
NET CURRENT ASSETS 867,951 1,472,543
TOTAL ASSETS LESS CURRENT
LIABILITIES

920,038

1,520,582

CAPITAL AND RESERVES
Called up share capital 11 1,053 1,053
Share premium 12 355,637 355,637
Retained earnings 12 563,348 1,163,892
SHAREHOLDERS' FUNDS 920,038 1,520,582

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by:





G P A Langle - Director


DATA BASE FACTORY UK LIMITED (REGISTERED NUMBER: 04014542)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   

Balance at 1 January 2021 1,053 1,357,181 355,637 1,713,871
Total comprehensive income - (193,289 ) - (193,289 )
Balance at 31 December 2021 1,053 1,163,892 355,637 1,520,582
Total comprehensive income - (600,544 ) - (600,544 )
Balance at 31 December 2022 1,053 563,348 355,637 920,038

DATA BASE FACTORY UK LIMITED (REGISTERED NUMBER: 04014542)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1. STATUTORY INFORMATION

Data Base Factory UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on the going concern basis and in accordance with applicable United Kingdom Accounting Standards, including Financial Reporting Standard 102 - the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ('FRS 102'), and with Companies Act 2006. There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts. There are no changes to opening equity and profit for the comparative period.

Going concern
In assessing whether the going concern basis is appropriate, the directors take into account all available information about the future, which is at least, but is not limited to, 12 months from the date of signing these financial statements.

The financial statements have been prepared on the going concern basis, which the directors believe to be appropriate. The directors continue to monitor the company's funding strategy and have prepared forecasts which underpin the going concern basis for the company.

At the date of approval of these financial statements the directors believe that the company, with continued and ongoing financial support from its parent company, will continue to operate successfully for the foreseeable future and be able to meet its liabilities as and when they fall due.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 3.17(d);
the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and
11.48(c);
the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirement of paragraph 33.7.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and the future periods where the revision affects both current and future periods.

In the directors' view there are no key judgements or sources of estimation uncertainty that are required to be disclosed in these financial statements.

DATA BASE FACTORY UK LIMITED (REGISTERED NUMBER: 04014542)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is recognised to the extent it is probable that economic benefit will flow to the company, and that it can be reliably measured. Turnover is measured at the fair value of consideration received or receivable, net of discounts, rebates, VAT and other sales taxes.

Turnover from the provision of services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when the following conditions are satisfied:
- the amount of turnover can be measured reliably;
- it is probable that consideration due will be received;
- the stage of completion of the contract at the reporting date can be measured reliably, and
- the costs incurred, or to be incurred, can be measured reliably.

Turnover recognised upon the provision of the service.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - Straight line over 4-6 years
Fixtures and fittings - Straight line over 4-6 years
Computer equipment - Straight line over 3-4 years

Tangible fixed assets are held under the cost model, and are stated at their historical cost less accumulated depreciation and impairment losses. Cost includes directly attributable expenditure in bringing the asset into the location and condition necessary for operation.

The assets' residual values; useful lives and depreciation methods are reviewed periodically and prospectively adjusted where appropriate; or where there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount, and are recognised in the statement of income statement.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors; loans from banks and other third parties; loans to related parties and investments in non-puttable ordinary shares.

Debt instruments, other than those wholly payable or receivable within one year, including loans and other accounts receivable and payable are initially measured at the present value of future cash flows, and subsequently measured at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured at the undiscounted amount of consideration expected to be paid or received. If the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not at a market rate, the financial asset or liability is initially measured at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument, and subsequently measured at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment, and such impairments is recognised in total comprehensive income.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


DATA BASE FACTORY UK LIMITED (REGISTERED NUMBER: 04014542)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
The company's functional and presentation currency is GBP.

At each reporting date, 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. Non-monetary items 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 translation of monetary assets and liabilities denominated in foreign currencies at the reporting date are recognised in the income statement.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the statement of income and retained earnings on a straight line basis over the term of the lease.

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by hire purchase are depreciated over the useful economic life. Assets acquired by finance lease are depreciated over the term of the lease, or useful economic life if shorter.

Finance leases are those where substantially all of the risks and benefits of ownership are assumed by the company. Obligations under such agreements are included in creditors, net of finance charges allocated to future periods. The finance element of the rental payment is charged to the statement of income and retained earnings so as to produce a constant, periodic rate of charge on the net obligation outstanding in each period.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. A defined contribution scheme is a plan under which the company pays fixed contributions into a separate legal entity. Once the contributions have been paid, the company has no further payment obligations.

Contributions payable to the company's pension scheme are recognised in the statement of income and retained earnings in the period to which they fall due. Amounts not paid by the reporting date are shown within accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Cash and cash equivalents
Cash is represented by cash in hand and bank current and short term deposit accounts.

3. TURNOVER

The turnover and loss before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

2022 2021
£    £   
Rendering of services - UK 5,733,798 5,745,580
5,733,798 5,745,580

DATA BASE FACTORY UK LIMITED (REGISTERED NUMBER: 04014542)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

4. EMPLOYEES AND DIRECTORS
2022 2021
£    £   
Wages and salaries 3,702,152 3,674,679
Social security costs 257,265 164,209
Other pension costs 24,573 22,700
3,983,990 3,861,588

The average number of employees during the year was as follows:
2022 2021

Directors 2 2
Management 11 9
Operations staff 118 121
131 132

2022 2021
£    £   
Directors' remuneration - -

5. OPERATING LOSS

The operating loss is stated after charging:

2022 2021
£    £   
Other operating leases 122,182 125,814
Depreciation - owned assets 42,472 40,156
Auditors' remuneration 17,500 15,750
Foreign exchange differences 11,079 204,259

6. TAXATION

Analysis of the tax credit
The tax credit on the loss for the year was as follows:
2022 2021
£    £   
Current tax:
Prior year tax adjustment - (11,073 )

Deferred tax:
Origination and reversal of timing differences - (10,630 )
Tax on loss - (21,703 )

UK corporation tax has been charged at 19% (2021 - 19%).

DATA BASE FACTORY UK LIMITED (REGISTERED NUMBER: 04014542)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

6. TAXATION - continued

Reconciliation of total tax credit included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2022 2021
£    £   
Loss before tax (600,544 ) (214,992 )
Loss multiplied by the standard rate of corporation tax in the UK of 19%
(2021 - 19%)

(114,103

)

(40,848

)

Effects of:
Expenses not deductible for tax purposes 950 1,516
Adjustments to tax charge in respect of previous periods - (11,073 )
Fixed asset differences (4,207 ) (4,675 )
Movement in unrecognised deferred tax 117,360 33,377
Total tax credit - (21,703 )

7. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2022 27,834 258,701 364,121 650,656
Additions - - 47,373 47,373
Disposals - - (853 ) (853 )
At 31 December 2022 27,834 258,701 410,641 697,176
DEPRECIATION
At 1 January 2022 27,834 228,908 345,875 602,617
Charge for year - 11,658 30,814 42,472
At 31 December 2022 27,834 240,566 376,689 645,089
NET BOOK VALUE
At 31 December 2022 - 18,135 33,952 52,087
At 31 December 2021 - 29,793 18,246 48,039

8. DEBTORS
2022 2021
£    £   
Amounts falling due within one year:
Trade debtors 1,327,889 1,729,325
Tax 34,959 34,959
VAT 11,938 -
Prepayments and accrued income 79,867 72,309
1,454,653 1,836,593

Amounts falling due after more than one year:
Prepayments and accrued income 2,938 2,938

Aggregate amounts 1,457,591 1,839,531

DATA BASE FACTORY UK LIMITED (REGISTERED NUMBER: 04014542)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

8. DEBTORS - continued

Amounts owed by group undertakings are unsecured and not due for a period of at least 12 months, but otherwise have no fixed repayment terms. The debts carry interest at Euribor 3 month + 0.80%.

Included above are financial instruments held at amortised cost amounting to £1,373,573 (2021: £1,812,564).

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Hire purchase contracts (see note 10) 4,863 7,983
Trade creditors 373,805 638,879
Social security and other taxes 197,482 161,447
VAT - 7,444
Other creditors 149,891 161,316
Accrued expenses 176,801 195,730
902,842 1,172,799

Included above are financial instruments held at amortised cost amounting to £353,708 (2021: £638,879).

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2022 2021
£    £   
Net obligations repayable:
Within one year 4,863 7,983

Non-cancellable operating leases
2022 2021
£    £   
Within one year 42,973 151,342
Between one and five years 25,896 100,605
68,869 251,947

The hire purchase liabilities are secured on the underlying assets.

11. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2022 2021
value: £    £   
1,053 Share capital 1 £1 1,053 1,053

12. RESERVES

Retained earnings represent distributable reserves of accumulated profits and losses.

Share premium represents the premium arising on the issue of shares net of issue costs.

13. PENSION COMMITMENTS

At the balance sheet date, the company owed £10,765 (2021: £7,941) in respect of contributions to money purchase pension schemes. This is included in Social Security and Other Taxes.

DATA BASE FACTORY UK LIMITED (REGISTERED NUMBER: 04014542)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

14. ULTIMATE PARENT COMPANY

The company's immediate parent undertaking and controlling party is Comdata SPA, a company registered and incorporated in Italy. The company's ultimate parent undertaking and controlling party is Intermediate Capital Group PLC, a company registered in England and Wales.

The smallest group company for which group accounts are prepared which include the company is Grupo Konectanet SLU, a company registered in Spain. Accounts are available from 41 Calle Serrano, 2o Planta, 28006 Madrid, Spain.