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Registered number: 02667995









DATA AND MARKETING ASSOCIATION LIMITED
(A company limited by guarantee)









ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
DATA AND MARKETING ASSOCIATION LIMITED
 
(A company limited by guarantee)
 
 
COMPANY INFORMATION


Directors
R Aldighieri 
C Combemale 
S Maher 
P Unsworth 
E Blair 
C A Burke 
F Khnaisser 
A Merron 
T Miller 
K Hamilton (appointed 6 February 2023)




Registered number
02667995



Registered office
Lynton House
7-12 Tavistock Square

London

WC1H 9LT




Independent auditor
Barnes Roffe LLP
Chartered Accountants

Leytonstone House

Leytonstone

London

E11 1GA





 
DATA AND MARKETING ASSOCIATION LIMITED
 
(A company limited by guarantee)
 

CONTENTS



Page
Group CEO’s Report and Group Strategic Report 
 
1 - 3
Directors' report
 
4 - 5
Independent auditor's report
 
6 - 10
Consolidated statement of income and retained earnings
 
11
Consolidated balance sheet
 
12
Company balance sheet
 
13
Consolidated statement of cash flows
 
14
Consolidated analysis of net debt
 
15
Notes to the financial statements
 
16 - 38



 
DATA AND MARKETING ASSOCIATION LIMITED
 
(A company limited by guarantee)
 
 
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2023

Introduction
 
The directors present their business review below.

Business review
 
Please refer to the CEO's report on pages 2 to 3 of the financial statements.

Principal risks and uncertainties
 
The Company board meets regularly to discuss the risks and uncertainties the Group faces. 

Financial key performance indicators
 
Monthly management accounts are prepared and shown to the board. The directors review the monthly management accounts looking at turnover, gross profit and net profit as the KPIs.

Page 1

 
DATA AND MARKETING ASSOCIATION LIMITED
 
(A company limited by guarantee)
 

GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023

Chair and CEO statement
 
FY23 was a year of considerable progress for the DMA as we provided leadership to the industry in significant transformations that will affect our industry for many years to come, while at the same time stabilising our finances, our team and reconnecting our community following the pandemic.
In March, Secretary of State Michelle Donelan outlined the priorities for the UK’s post Brexit reforms to data protection legislation at our flagship Data 2023 conference at the Ham Yard Hotel. The Secretary of State highlighted the government’s ambitions for the Data Protection and Digital Information Bill (DPDI) and highlighted the strong collaboration with the DMA on key initiatives that would drive growth. The government’s strategic objectives are:
 
Introduce a clear, business-friendly framework that incorporates the key elements and objectives of GDPR but provides more flexibility about how to comply;
Provide organisations with greater confidence about when they can process personal data without consent;
Clarify when safeguards apply to automated decision-making through AI technologies;
Strengthen the powers of the Information Commissioner’s Office (ICO), the independent regulator;
Unleash more scientific research;
Reduce unnecessary paperwork even further; and
Support international data sharing.
 
The DMA has consulted on the legislation since summer 2021, holding round tables for officials and leading industry’s input through our CEO who chaired the Business Advisory Group for the Secretary of State. The bill as presented to committee stage in parliament contained significant changes to legislation that will drive growth and innovation for our industry.
 
The Bill provides greater certainty to the scope of Legitimate Interests and includes three specific examples which are drawn from Recitals 47, 48 and 49 of GDPR, and specifically Direct Marketing.
Extension of the soft opt in for email to non-commercial organisations such as charities which will enable growth in fund-raising
An expanded range of exemptions to consent for cookies which will reduce consent banners especially for ecommerce websites that do not take advertising.
Expansion of co-regulation under GDPR to cover PECR, enabling a comprehensive Code of Conduct for direct marketing and expanded delegated authority to the DMC
 
FY23 also saw the emergence of a powerful new generation of AI technology providing opportunity and challenge to the industry. The DMA is the leading voice in establishing the balance between innovation, growth and responsibility, with our Code standing as an ethical framework ensuring AI evolves safely. We established a new AI taskforce and continue to contribute to government with our Managing Director representing the industry on Scotland’s AI taskforce and the Advertising Association taskforce.
 
The industry continued to identify skills as the number one challenge. With the costs of living crisis creating significant financial constraints for members the DMA launched a new membership hub with two hundred units of micro learning and 10 qualifications all included within the membership fee. Our focus is on keeping industry skills up to date as technology and new ways to engage customers transform marketing, with a strong focus on micro-upskilling of 1 hour a week. We also secured a significant contract from the Department for Education to run Digital Marketing Strategy skills bootcamps with the government funding 90% of the cost. The Talent committee began work on a new People Pillar to the Code which will encourage companies to commit to putting their own teams at the heart of their marketing.
 
Crucially, FY23 saw major progress in reconnecting our community through our councils and committees. Everything we do at the DMA is by the industry for the industry. Our success relies on our community of marketing leaders from brands, agencies, marketing service providers and marketing technology companies
Page 2

 
DATA AND MARKETING ASSOCIATION LIMITED
 
(A company limited by guarantee)
 

GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023

who volunteer their time and expertise so generously. Over 300 industry leaders contributed to the work of our Councils and Committees as our “source of intelligence”, over 400 leaders contributed to Awards judging and all our skills programmes are created and delivered by leading industry practitioners. Thank you to all of you for continuing to contribute to our dynamic community.
 
Notable successes included another stellar year of the DMA Awards highlighted by the first ever performance of the DMA Community Choir, another year of impactful Customer Engagement research, but most importantly we tackled the critical issue of measurement for marketers to ensure that all companies focus on business outcomes, enabling marketers to collaborate effectively with finance directors to create growth for the UK economy. We launched several tools to support the industry dialogue, including the Marketing Measurement Framework, the CMO Measurement Toolkit and the Making Measurement Meaningful 2022 report based on analysis of thousands of Awards entries.
 
With shifting work patterns and council, committee, and board meetings as well as training becoming primarily hybrid the business no longer required the type of physical presence we’ve had historically. During the year, the company was finally able to negotiate termination of the lease at Margaret Street significantly reducing property costs from January 2023. This made some contribution to improved finances in FY23, but the most significant impact will be seen in FY24 when the company returns to profitability and begins to rebuild our balance sheet. 
 
In conclusion, we are pleased that despite what has been the greatest possible disruption to how we work, the DMA continues to be perfectly placed to help our members - and the data and marketing industry in general - navigate through the new challenges and opportunities that lie ahead. For this we would like to thank our first-class leadership team, alongside our committed Board members, our brilliantly engaged councils and committees, and talented teams. Together we can ensure that UKs' data and marketing industry leads the country and the world in building trust with customers.


This report was approved by the board on 12 March 2024 and signed on its behalf.



C Combemale
Director

Page 3

 
DATA AND MARKETING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2023

The directors present their report and the financial statements for the year ended 31 March 2023.

Principal activities
The Data and Marketing Association Limited (DMA): the principal trade association for companies and organisations involved in the direct marketing industry in the United Kingdom. 
Institute of Data and Marketing Limited (IDM): provision of direct, digital and data marketing training and education services. 
IDM Membership Limited (IDMM): involved in the promotion of professional standards amongst direct, digital and data marketing professionals by the provision of membership services available only to those professionals who meet the criteria set down for qualification by education and experience to abide by the code of conduct for members. 
The Telephone Preference Service Limited (TPS): management of the register of telephone and fax numbers of individuals who do not wish to receive direct marketing telephone calls and faxes, under a contract with the Information Commissioner’s Office. The contract terminates at the beginning of August 2022. 
IDM Training PTE Limited: provision of direct, digital and data marketing training and education services in Singapore and surrounding territories. This company was dissolved during the year.

Directors' responsibilities statement

The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), 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 the Group and of the profit or loss of the Group for that period.

 In preparing these financial statements, the directors are required to:


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

make judgments and accounting estimates that are reasonable and prudent;

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

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 the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results

The loss for the year, after taxation, amounted to £582,673 (2022 - loss £1,456,059).



Page 4

 
DATA AND MARKETING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023

Directors

The directors who served during the year were:

R Aldighieri 
C Combemale 
M Cripps (resigned 12 July 2023)
S Maher 
P Unsworth 
E Blair 
F Khnaisser 
E Blair 
 C A Burke
 
A Merron 
T Miller 
K Hamilton (appointed 6 February 2023)

Disclosure of information to auditor

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company and the Group'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 and the Group's auditor is aware of that information.

Auditor

The auditor, Barnes Roffe LLPwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 12 March 2024 and signed on its behalf.
 





C Combemale
Director

Page 5

 
DATA AND MARKETING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE SHAREHOLDERS OF DATA AND MARKETING ASSOCIATION LIMITED
 

Opinion


We have audited the financial statements of Data and Marketing Association Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 March 2023, which comprise the Group Statement of income and retained earnings, the Group and Company Balance sheets, the Group Statement of cash flows and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Group's and of the parent Company's affairs as at 31 March 2023 and of the Group's loss for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


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 Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 Group's or the parent 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.


Page 6

 
DATA AND MARKETING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE SHAREHOLDERS OF DATA AND MARKETING ASSOCIATION LIMITED (CONTINUED)


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.


Opinion 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 Group 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 Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


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


Page 7

 
DATA AND MARKETING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE SHAREHOLDERS OF DATA AND MARKETING ASSOCIATION LIMITED (CONTINUED)


Responsibilities of directors
 

As explained more fully in the Directors' responsibilities statement set out on page 4, 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 Group's and the parent 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 Group or the parent Company or to cease operations, or have no realistic alternative but to do so.


Page 8

 
DATA AND MARKETING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE SHAREHOLDERS OF DATA AND MARKETING ASSOCIATION LIMITED (CONTINUED)


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 Group financial statements.


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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
 
The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
We identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the relevant sector;
We focused on specific laws and regulations, which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006 and ISO standards;
We assessed the extent of compliance with laws and regulations identified above through making enquires of management and inspecting legal correspondence and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
 
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
 
Making enquires of management as to where they considered there was susceptibility to fraud, their knowledge of actual suspected and alleged fraud; and
Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
 
To address the risk of fraud through management bias and override of controls, we:
 
Performed analytical procedures to identify and unusual or unexpected relationships;
Tested journal entries to identify unusual transactions;
Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
Investigated the rationale behind significant or unusual transactions.
 
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial statements, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
 
Page 9

 
DATA AND MARKETING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE SHAREHOLDERS OF DATA AND MARKETING ASSOCIATION LIMITED (CONTINUED)


Material misstatements that arise due to fraud can be harder to detect that those that arise from errors as they may involve deliberate concealment or collusion.
                                                                       
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report.


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 2006Our 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.





Simon Liggins (Senior statutory auditor)
for and on behalf of
Barnes Roffe LLP
Chartered Accountants
Leytonstone House
Leytonstone
London
E11 1GA

12 March 2024
Page 10

 
DATA AND MARKETING ASSOCIATION LIMITED
 
(A company limited by guarantee)
 
 
CONSOLIDATED STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 MARCH 2023

2023
2022
                                                                                                                         Note
£
£

  

Turnover
 4 
6,107,354
5,962,323

Cost of sales
  
(1,148,871)
(1,084,001)

Gross profit
  
4,958,483
4,878,322

Administrative expenses
  
(5,554,720)
(6,143,852)

Exceptional administrative expenses
  
-
(268,213)

Other operating income
 5 
-
32,412

Other operating charges
  
(8,312)
(15,026)

Operating loss
 6 
(604,549)
(1,516,357)

Interest payable and similar expenses
 10 
(16,975)
(9,319)

Loss before tax
  
(621,524)
(1,525,676)

Tax on loss
 11 
38,851
69,617

Loss after tax
  
(582,673)
(1,456,059)

  

  

Retained earnings at the beginning of the year
  
(52,534)
1,403,525

  
(52,534)
1,403,525

Loss for the year attributable to the owners of the parent
  
(582,673)
(1,456,059)

Retained earnings at the end of the year
  
(635,207)
(52,534)

Non-controlling interest at the end of the year
  

There was no other comprehensive income for 2023 (2022:£Nil).

The notes on pages 16 to 38 form part of these financial statements.

Page 11

 
DATA AND MARKETING ASSOCIATION LIMITED
 
(A company limited by guarantee)
REGISTERED NUMBER: 02667995

CONSOLIDATED BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 13 
331,633
632,562

Tangible assets
 14 
9,511
-

  
341,144
632,562

Current assets
  

Debtors
 16 
1,352,759
1,917,907

Cash at bank and in hand
 17 
1,313,316
1,331,602

  
2,666,075
3,249,509

Creditors: amounts falling due within one year
 18 
(3,494,589)
(3,549,002)

Net current liabilities
  
 
 
(828,514)
 
 
(299,493)

Total assets less current liabilities
  
(487,370)
333,069

Creditors: amounts falling due after more than one year
 19 
(129,167)
(358,334)

Provisions for liabilities
  

Deferred taxation
 21 
(18,670)
(27,269)

  
 
 
(18,670)
 
 
(27,269)

Net liabilities
  
(635,207)
(52,534)


Capital and reserves
  

Profit and loss account
 22 
(635,207)
(52,534)


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 March 2024.




C Combemale
Director

The notes on pages 16 to 38 form part of these financial statements.

Page 12

 
DATA AND MARKETING ASSOCIATION LIMITED
 
(A company limited by guarantee)
REGISTERED NUMBER: 02667995

COMPANY BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 13 
214,520
422,100

Tangible assets
 14 
9,511
-

Investments
 15 
1,000
1,000

  
225,031
423,100

Current assets
  

Debtors
 16 
2,323,171
2,766,104

Cash at bank and in hand
 17 
379,396
683,719

  
2,702,567
3,449,823

Creditors: amounts falling due within one year
 18 
(3,482,092)
(3,474,497)

Net current liabilities
  
 
 
(779,525)
 
 
(24,674)

Total assets less current liabilities
  
(554,494)
398,426

  

Creditors: amounts falling due after more than one year
 19 
-
(179,167)

  

Net (liabilities)/assets
  
(554,494)
219,259


Capital and reserves
  

Profit and loss account brought forward
  
219,259
1,704,272

Loss for the year
  
(773,753)
(1,485,013)

Profit and loss account carried forward
  
(554,494)
219,259


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 March 2024.


C Combemale
Director

The notes on pages 16 to 38 form part of these financial statements.

Page 13

 
DATA AND MARKETING ASSOCIATION LIMITED
 
(A company limited by guarantee)
 

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2023

2023
2022
£
£

Cash flows from operating activities

Loss for the financial year
(582,673)
(1,456,059)

Adjustments for:

Amortisation of intangible assets
307,269
392,487

Depreciation of tangible assets
1,588
92,310

Impairments of fixed assets
-
570,483

Loss on disposal of tangible assets
(590)
-

Interest paid
16,975
9,319

Taxation charge
(38,851)
(69,617)

Decrease/(increase) in debtors
532,003
(206,208)

(Decrease) in creditors
(120,183)
(239,309)

Corporation tax received
-
61,014

Net cash generated from operating activities

115,538
(845,580)


Cash flows from investing activities

Purchase of intangible fixed assets
(6,340)
(112,159)

Sale of intangible assets
-
(17,930)

Purchase of tangible fixed assets
(11,099)
-

Sale of tangible fixed assets
590
-

Net cash from investing activities

(16,849)
(130,089)

Cash flows from financing activities

Repayment of loans
(100,000)
(41,666)

Interest paid
(16,975)
(9,319)

Net cash used in financing activities
(116,975)
(50,985)

Net (decrease) in cash and cash equivalents
(18,286)
(1,026,654)

Cash and cash equivalents at beginning of year
1,331,602
2,358,256

Cash and cash equivalents at the end of year
1,313,316
1,331,602


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
1,313,316
1,331,602

1,313,316
1,331,602


Page 14

 
DATA AND MARKETING ASSOCIATION LIMITED
 
(A company limited by guarantee)
 

CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 MARCH 2023





At 1 April 2022
Cash flows
Other non-cash changes
At 31 March 2023
£

£

£

£

Cash at bank and in hand

1,331,602

(18,286)

-

1,313,316

Debt due after 1 year

(358,334)

-

100,000

(258,334)

Debt due within 1 year

(100,000)

100,000

(100,000)

(100,000)


873,268
81,714
-
954,982

The notes on pages 16 to 38 form part of these financial statements.

Page 15

 
DATA AND MARKETING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

The Data and Marketing Association Limited is a company incorporated in England & Wales under the Companies Act. The address of its registered office is Lynton House, 7-12 Tavistock Square, London, WC1H 9LT. The nature of the company's operations and its principal activities are set out in the directors' report. The financial statements have been prepared in accordance with FRS 102, the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland.

2.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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of income and retained earnings in these financial statements.

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of income and retained earnings from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 01 April 2017.

Non-consolidation of subsidiaries
The following subsidiary companies of The Data and Marketing Association Limited and The Institute of Data and Marketing Limited have not been included in the consolidated accounts as the companies were deemed immaterial to the group:
IDM Training PTE Limited 
Trust UK Limited
Data and Marketing Commission 

Page 16

 
DATA AND MARKETING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

Going concern

The directors have considered the impact on the ability of the Company and Group to continue as a Going Concern. In making their assessment the directors have prepared and critically reviewed the Company and Group's cash flow and management accounts forecast for the next 12 months and beyond and ensured that these forecasts are modelled on a suitably cautious basis. Despite the loss for the year and the balance sheet deficit the Group is forecast to return to profitability in the coming years partly to be acheived through significant expense savings as a result of the Group exiting its property lease in January 2023. Cash solvency remains strong, with Group cash balances at the time of finalising these financial statements in excess of £1m.  As a result the directors are confident that the Group and Company will be able to settle all liabilities as they fall due, in the normal course of business.  Accordingly the Group and Company have prepared these financial statements on a going concern basis. Further information on the future outlook of the business can be seen in the commentary provided in the Strategic, Chairman’s and CEO’s reports included within the Group’s consolidated financial statements. 

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group 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 Group will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 17

 
DATA AND MARKETING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

  
2.5

Intangible assets

Goodwill is capitalised and written off evenly over 10 years as in the opinion of the directors, this represents the period over which the goodwill is expected to give rise to economic benefits.
Software
The Group capitalises software expenditure as an intangible asset when it is able to demonstrate all of the following:
• The technical feasibility of completing the development so the intangible asset will be available for use or sale.
• Its intention to complete the development and to use or sell the intangible asset.
• Its ability to use or sell the intangible asset.
• How the intangible asset will generate probable future economic benefits. 
• The availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset.
• Its ability to measure reliably the expenditure attributable to the intangible asset during its development.
Capitalised software expenditure is initially recognised at cost and subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
All research expenditure and development expenditure that does not meet the above conditions is expensed as incurred.
Other intangible assets
Intangible assets purchased other than in a business combination are recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Intangible assets arising on a business combination are recognised, except where the asset arises from legal or contractual rights, and there is no history or evidence of exchange transactions for the same or similar assets and estimating the asset’s fair value would depend on immeasurable variables.
Intangible assets are initially recognised at cost (which for intangible assets acquired in a business combination is the fair value at acquisition date) and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible assets are amortised to profit or loss on a straight-line basis over their useful lives, as follows:-
    Other intangible assets   10 years
    Software              3-5   years
  
The Other intangible assets are considered to have a useful life of 10 years and will be amortised over that period on a straight line basis, as much of the value of these assets will be expected to be extracted over this period before these are replaced by newly generated assets.  The directors anticipate that the business will continue trading using these assets for many years beyond this but this is a prudent and reasonable period over which to recognise the cost of the assets.
Capitalised software expenditure is amortised on a straight line basis over its useful life, which is between 3 and 5 years. The directors consider these useful lives to be appropriate because the value of these assets will be expected to be extracted over this period.
 
Page 18

 
DATA AND MARKETING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

Amortisation is revised prospectively for any significant change in useful life or residual value.
On disposal, the difference between the net disposal proceeds and the carrying amount of the intangible asset is recognised in the statement of comprehensive income.
 

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Group assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
5 years
Office equipment
-
5 years
Computer equipment
-
3 years
Leasehold improvements
-
10 years

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

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.7

Impairment of fixed assets

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 19

 
DATA AND MARKETING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

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.

In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

  
2.11

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Page 20

 
DATA AND MARKETING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

  
2.12

Foreign currency translation

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 period 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 period end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Profit and loss account except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Operating leases: the Group as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.16

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Consolidated statement of income and retained earnings in the same period as the related expenditure.

Page 21

 
DATA AND MARKETING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.17

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.18

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.19

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Group in independently administered funds.

Page 22

 
DATA AND MARKETING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

  
2.20

Taxation

The tax expense represents the sum of the current tax expense and deferred tax expense. Current tax assets are recognised when tax paid exceeds the tax payable.
Current tax is based on taxable profit for the year. Current tax assets and liabilities are measured using tax rates that have been enacted or substantively enacted by the reporting date.
Deferred tax is calculated at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled based on tax rates that have been enacted or substantively enacted by the reporting date.
Deferred tax liabilities are recognised in respect of all timing differences that exist at the reporting date. Timing differences are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in different periods from their recognition in the financial statements. Deferred tax assets are recognised only to the extent that it is probable that they will be recovered by the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is recognised on income or expenses from subsidiaries, associates, branches and interests in jointly controlled entities, that will be assessed to or allow for tax in a future period except where the Group is able to control the reversal of the timing difference and it is probable that the timing difference will not reverse in the foreseeable future. 
Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination and the amounts that can be deducted or assessed for tax. The deferred tax recognised is adjusted against goodwill.
Current and deferred tax is charged or credited in profit or loss, except when it relates to items charged or credited to other comprehensive income or equity, when the tax follows the transaction or event it relates to and is also charged or credited to other comprehensive income, or equity.
Current tax assets and current tax liabilities and deferred tax assets and deferred tax liabilities are offset, if and only if, there is a legally enforceable right to set off the amounts and the entity intends either to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.21

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Group but are presented separately due to their size or incidence.

Page 23

 
DATA AND MARKETING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The annual amortisation charge for intangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re assessed annually. They are amended when necessary to reflect current estimates, based on market conditions, future investments, and economic utilisation. See note 13 for the carrying amount of the intangible assets and note 2.5 for the amortisation policies used.
                                                                                                                                                    
The directors do not consider that there are any other significant judgements in applying accounting policies or estimation uncertainty arising in the preparation of these financial statements.


4.


Turnover

Analysis of turnover by country of destination:

2023
2022
£
£

United Kingdom
6,107,354
5,962,323


100% turnover generated for services rendered.


5.


Other operating income

2023
2022
£
£

Job Retention Scheme Grant
-
32,412



6.


Operating loss

The operating loss is stated after charging:

2023
2022
£
£

Depreciation of owned tangible assets
1,588
92,310

Amortisation of intangible assets, including goodwill
307,269
392,487

Operating lease rentals - land and buildings
378,539
499,000

Impairment of fixed assets
-
268,483

Page 24

 
DATA AND MARKETING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Auditor's remuneration

During the year, the Group obtained the following services from the Company's auditor:


2023
2022
£
£

Fees payable to the Group's auditor and its associates for the audit of the Group's annual financial statements
10,750
10,750

Statutory audit of subsidiaries
16,125
16,125

All other services
5,375
8,125


8.


Employees

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£


Wages and salaries
2,679,644
2,932,985
2,408,674
2,113,346

Social security costs
301,877
325,079
301,877
325,079


Costs of defined contribution scheme
63,872
88,862
63,872
74,413


The average monthly number of employees, including the directors, during the year was as follows:



Group
Group
Company
Company
        2023
        2022
        2023
        2022
            No.
            No.
            No.
            No.









Management, Adminstration & Finance, Sales & Marketing, Customer service and Operational
69
75
69
75

Staff costs, including directors' remuneration, were as follows:


Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£


Wages and salaries
2,676,583
2,929,807
2,405,613
2,110,168

Social security costs
301,877
325,079
301,877
325,079

Cost of defined contribution scheme
66,758
91,787
66,758
77,338

3,045,218
3,346,673
2,774,248
2,512,585

Page 25

 
DATA AND MARKETING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Directors' remuneration




2023
2022
£
£

Directors' emoluments
277,504
276,453

Group contributions to defined contribution pension schemes
2,886
2,925

280,390
279,378


During the year retirement benefits were accruing to 1 director (2022 - 1) in respect of defined contribution pension schemes.

The highest paid director received remuneration of £180,144 (2022 - £177,504).

The value of the Group's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £NIL (2022 - £NIL).


10.


Interest payable and similar expenses

2023
2022
£
£


Bank interest payable
16,975
9,319

Page 26

 
DATA AND MARKETING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

11.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
(30,248)
(61,014)


(30,248)
(61,014)


Total current tax
(30,248)
(61,014)

Deferred tax


Origination and reversal of timing differences
(8,603)
(8,603)

Total deferred tax
(8,603)
(8,603)


Taxation on loss on ordinary activities
(38,851)
(69,617)

Factors affecting tax charge for the year

The tax assessed for the year is higher than (2022 - higher than) the standard rate of corporation tax in the UK of 19% (2022 - 19%). The differences are explained below:

2023
2022
£
£


Loss on ordinary activities before tax
(621,524)
(1,525,676)


Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 19% (2022 - 19%)
(118,090)
(289,878)

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
19,835
117,335

Capital allowances for year in excess of depreciation
(19,371)
(26,551)

Research and development tax credit leading to an increase/(decrease) in the tax charge
(30,258)
(61,014)

Unrelieved tax losses carried forward
171,922
218,708

Tax losses utilised in the year
(62,889)
(28,217)

Total tax charge for the year
(38,851)
(69,617)

Page 27

 
DATA AND MARKETING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
 
11.Taxation (continued)


Factors that may affect future tax charges

The Group has unrelieved tax losses carried forward of £2,946,770 (2022 - £2,635,239).


12.


Exceptional items

2023
2022
£
£


Impairment of tangible fixed assets
-
268,213

During the year, the company vacated its operational premises. As this was known at the prior year signing of the accounts, management have therefore impaired the fixed assets located at the operational premises to £Nil at the prior year end.

Page 28

 
DATA AND MARKETING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

13.


Intangible assets

Group





Software
Goodwill and other intangible assets
Total

£
£
£



Cost


At 1 April 2022
1,880,687
516,160
2,396,847


Additions
6,340
-
6,340



At 31 March 2023

1,887,027
516,160
2,403,187



Amortisation


At 1 April 2022
1,411,588
352,697
1,764,285


Charge for the year on owned assets
255,656
51,613
307,269



At 31 March 2023

1,667,244
404,310
2,071,554



Net book value



At 31 March 2023
219,783
111,850
331,633



At 31 March 2022
469,099
163,463
632,562

Page 29

 
DATA AND MARKETING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
 
           13.Intangible assets (continued)

The intangible assets acquired on the acquisition of the IDM companies have been valued at £516,160, including deferred tax of £86,025. The value is attributed as follows:
IDM Brand [10%]       
This is the use of the IDM brand within the marketing industry and in conjunction with the DMA activities. 
Customer lists [40%]  
The value lies in the goodwill of customers and members of the Institute of Data and Marketing – and the possibility of cross selling products between the DMA and the IDM.
IDM Course Materials - IPR [10%]
Over the years, the IDM has developed a suite of market-leading data and digital training courses to educate and enlighten the UK marketing sector.
Alumnae Community [20%]
There are over 1,000 members of the Institute of Direct Marketing who have qualified through IDM qualification courses.  There is a strong affection and affiliation with these members – who have the potential to be supporters of the DMA.
Councils and network of Tutors [20%]
The IDM has a number of marketing industry councils that we deem to have a valuable role in steering the future of the combined DMA Group. The tutors are secured by the IDM under contract and are considered to be a business USP.
Amortisation of Intangible assets
Each intangible asset identified above is considered to have a useful life of 10 years and will be amortised on a straight-line basis as much of the value of these assets will be expected to be extracted over this period before these are replaced by newly generated assets. The directors anticipate that the business will continue trading using these assets for many years beyond this but this is a prudent and reasonable period over which to recognise the costs of the assets. 



Page 30

 
DATA AND MARKETING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
 
           13.Intangible assets (continued)

Company




Software

£



Cost


At 1 April 2022
1,578,285


Additions
6,340



At 31 March 2023

1,584,625



Amortisation


At 1 April 2022
1,156,185


Charge for the year
213,920



At 31 March 2023

1,370,105



Net book value



At 31 March 2023
214,520



At 31 March 2022
422,100

Page 31

 
DATA AND MARKETING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

14.


Tangible fixed assets

Group






Leasehold improvement
Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 April 2022
1,021,580
295,996
2,555
287,199
1,607,330


Additions
-
-
-
11,099
11,099


Disposals
(1,021,580)
(281,524)
(2,555)
(11,917)
(1,317,576)



At 31 March 2023

-
14,472
-
286,381
300,853



Depreciation


At 1 April 2022
1,021,580
295,996
2,555
287,199
1,607,330


Charge for the year on owned assets
-
-
-
1,588
1,588


Disposals
(1,021,580)
(281,524)
(2,555)
(11,917)
(1,317,576)



At 31 March 2023

-
14,472
-
276,870
291,342



Net book value



At 31 March 2023
-
-
-
9,511
9,511



At 31 March 2022
-
-
-
-
-

Page 32

 
DATA AND MARKETING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

           14.Tangible fixed assets (continued)


Company






Leasehold improvement
Plant and machinery
Computer equipment
Total

£
£
£
£

Cost or valuation


At 1 April 2022
1,021,580
298,551
272,727
1,592,858


Additions
-
-
11,099
11,099


Disposals
(1,021,580)
(298,551)
-
(1,320,131)



At 31 March 2023

-
-
283,826
283,826



Depreciation


At 1 April 2022
1,021,580
298,551
272,727
1,592,858


Charge for the year on owned assets
-
-
1,588
1,588


Disposals
(1,021,580)
(298,551)
-
(1,320,131)



At 31 March 2023

-
-
274,315
274,315



Net book value



At 31 March 2023
-
-
9,511
9,511



At 31 March 2022
-
-
-
-






Page 33

 
DATA AND MARKETING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

15.


Fixed asset investments

Company





Shares in group undertakings

£



Cost or valuation


At 1 April 2022
1,000



At 31 March 2023
1,000







The following were associates of the Company:


Name

Registered office

Class of shares

Holding

The Telephone Preference Service Limited
England & Wales
Ordinary
100%
The Insititute of Data and Marketing Limited
England & Wales
Ordinary
100%
IDM Membership Limited
England & Wales
Ordinary
100%
TrustUK Limited
England & Wales
100%
Data and Marketing Commission
England & Wales
100%

TrustUK Limited and The Data and Marketing Commission are limited by guarantee and do not have any issued share capital. 
IDM Training PTE Limited was dissolved during the year.

Page 34

 
DATA AND MARKETING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

16.


Debtors

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£



Trade debtors
1,231,191
1,334,266
1,185,720
977,079

Amounts owed by group undertakings
-
-
1,015,883
1,241,089

Other debtors
2,956
324,756
2,956
291,616

Prepayments and accrued income
118,612
258,885
118,612
256,320

1,352,759
1,917,907
2,323,171
2,766,104



17.


Cash and cash equivalents

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Cash at bank and in hand
1,313,316
1,331,602
379,396
683,719



18.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Bank loans
229,167
100,000
179,167
50,000

Trade creditors
468,029
801,312
218,369
444,768

Amounts owed to group undertakings
-
-
1,185,915
1,310,329

Other taxation and social security
310,976
262,992
310,976
249,184

Other creditors
3,993
141,406
3,993
104,654

Accruals and deferred income
2,482,424
2,243,292
1,583,672
1,315,562

3,494,589
3,549,002
3,482,092
3,474,497


Page 35

 
DATA AND MARKETING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

19.


Creditors: Amounts falling due after more than one year

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Bank loans
129,167
358,334
-
179,167


The company's and Group's CBIL loans have been guaranteed by an unlimited debenture.
Interest is charged at 2.09% above the Bank of England base rate.


20.


Loans


Analysis of the maturity of loans is given below:


Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Amounts falling due within one year

Bank loans
229,167
100,000
179,167
50,000


Amounts falling due 2-5 years

Bank loans
129,167
358,334
-
179,167


358,334
458,334
179,167
229,167


Page 36

 
DATA AND MARKETING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

21.


Deferred taxation


Group



2023
2022


£

£






At beginning of year
(27,269)
(35,868)


Charged to profit or loss
8,599
8,599



At end of year
(18,670)
(27,269)

Group
Group
2023
2022
£
£

Arising on fair value adjustment on acquisition of subsidiaries
(18,670)
(27,269)

18,670
27,269


22.


Reserves

Profit and loss account

This reserve records retained earnings and accumulated losses.



23.


Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation. 


24.


Pension commitments

The Group and the company operates a defined contribution pension scheme for certain employees. The assets of the scheme are held separately from those of the Group and the company in an independently administered fund.  The pension cost charge represents contributions payable by the Group and the company to the fund and amounted to £66,758 for the Group of which £66,758 related solely to the company (2022, Group - £91,787, company- £77,338). Contributions totalling £13,435 for the Group and £13,435 solely in relation to the company (2022, Group - £12,191, Company - £12,191) were payable to the fund at the balance sheet date.

Page 37

 
DATA AND MARKETING ASSOCIATION LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

25.


Commitments under operating leases

At 31 March 2023 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Not later than 1 year
-
243,000
-
243,000

-
243,000
-
243,000


26.


Related party transactions

Key Management Personnel Remuneration
The remuneration and benefits received by key management personnel was £280,391  (2022: £279,378).
A member of the key management personnel of the company was remunerated through a personal service company. The amount paid during the year was £72,041 
(2022: £48,515).
Company
The company has taken advantage of the exemption contained in FRS 102 and has therefore not disclosed transactions or balances with entities which are wholly owned subsidiaries of the Group.

 
Page 38