Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-30truetrue53falsefalse2023-10-01falseNo description of principal activity53true 03639825 2023-10-01 2024-09-30 03639825 2022-10-01 2023-09-30 03639825 2024-09-30 03639825 2023-09-30 03639825 2022-10-01 03639825 1 2023-10-01 2024-09-30 03639825 1 2022-10-01 2023-09-30 03639825 6 2023-10-01 2024-09-30 03639825 6 2022-10-01 2023-09-30 03639825 d:CompanySecretary1 2023-10-01 2024-09-30 03639825 d:Director1 2023-10-01 2024-09-30 03639825 d:Director2 2023-10-01 2024-09-30 03639825 d:Director3 2023-10-01 2024-09-30 03639825 d:Director4 2023-10-01 2024-09-30 03639825 d:Director5 2023-10-01 2024-09-30 03639825 d:Director6 2023-10-01 2024-09-30 03639825 d:Director7 2023-10-01 2024-09-30 03639825 d:Director8 2023-10-01 2024-09-30 03639825 d:Director8 2024-09-30 03639825 d:Director9 2023-10-01 2024-09-30 03639825 d:Director9 2024-09-30 03639825 d:RegisteredOffice 2023-10-01 2024-09-30 03639825 e:MotorVehicles 2023-10-01 2024-09-30 03639825 e:MotorVehicles 2024-09-30 03639825 e:MotorVehicles 2023-09-30 03639825 e:MotorVehicles e:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 03639825 e:OfficeEquipment 2023-10-01 2024-09-30 03639825 e:OfficeEquipment 2024-09-30 03639825 e:OfficeEquipment 2023-09-30 03639825 e:OfficeEquipment e:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 03639825 e:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 03639825 e:CurrentFinancialInstruments 2024-09-30 03639825 e:CurrentFinancialInstruments 2023-09-30 03639825 e:Non-currentFinancialInstruments 2024-09-30 03639825 e:Non-currentFinancialInstruments 2023-09-30 03639825 e:CurrentFinancialInstruments e:WithinOneYear 2024-09-30 03639825 e:CurrentFinancialInstruments e:WithinOneYear 2023-09-30 03639825 e:Non-currentFinancialInstruments e:AfterOneYear 2024-09-30 03639825 e:Non-currentFinancialInstruments e:AfterOneYear 2023-09-30 03639825 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2024-09-30 03639825 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2023-09-30 03639825 e:UKTax 2023-10-01 2024-09-30 03639825 e:UKTax 2022-10-01 2023-09-30 03639825 e:ShareCapital 2024-09-30 03639825 e:ShareCapital 2023-09-30 03639825 e:RetainedEarningsAccumulatedLosses 2023-10-01 2024-09-30 03639825 e:RetainedEarningsAccumulatedLosses 2024-09-30 03639825 e:RetainedEarningsAccumulatedLosses 2022-10-01 2023-09-30 03639825 e:RetainedEarningsAccumulatedLosses 2023-09-30 03639825 e:RetainedEarningsAccumulatedLosses 2022-10-01 03639825 e:AcceleratedTaxDepreciationDeferredTax 2024-09-30 03639825 e:AcceleratedTaxDepreciationDeferredTax 2023-09-30 03639825 e:TaxLossesCarry-forwardsDeferredTax 2024-09-30 03639825 e:TaxLossesCarry-forwardsDeferredTax 2023-09-30 03639825 d:OrdinaryShareClass1 2023-10-01 2024-09-30 03639825 d:OrdinaryShareClass1 2024-09-30 03639825 d:OrdinaryShareClass1 2023-09-30 03639825 d:FRS102 2023-10-01 2024-09-30 03639825 d:Audited 2023-10-01 2024-09-30 03639825 d:FullAccounts 2023-10-01 2024-09-30 03639825 d:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 03639825 e:WithinOneYear 2024-09-30 03639825 e:WithinOneYear 2023-09-30 03639825 e:BetweenOneFiveYears 2024-09-30 03639825 e:BetweenOneFiveYears 2023-09-30 03639825 e:MoreThanFiveYears 2024-09-30 03639825 e:MoreThanFiveYears 2023-09-30 03639825 2 2023-10-01 2024-09-30 03639825 f:PoundSterling 2023-10-01 2024-09-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03639825










DATABASE FOR BUSINESS LTD










ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
DATABASE FOR BUSINESS LTD
 
 
COMPANY INFORMATION


Directors
C Beckley 
B Kingston 
S Pickering 
S Lee 
J Baxter 
J Ansell 
E Mullings 
J Ellis (appointed 1 October 2024)
P Hand (appointed 1 October 2024)




Company secretary
J Ansell



Registered number
03639825



Registered office
The Comms Centre Talavera Court
Darnell Way

Northampton

Northants

NN3 6RW




Independent auditors
MHA

Century House

The Lakes

Northampton

NN4 7HD





 
DATABASE FOR BUSINESS LTD
 

CONTENTS



Page
Strategic Report
 
1 - 2
Directors' Report
 
3 - 4
Independent Auditors' Report
 
5 - 8
Statement of Income and Retained Earnings
 
9
Balance Sheet
 
10
Notes to the Financial Statements
 
11 - 25


 
DATABASE FOR BUSINESS LTD
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

Introduction
 
The Directors present their report and the financial statements for the year ended 30 September 2024.

Business review
 
dbfb continues to offer a unique, integrated and fully service-wrapped solution, specialising in connectivity, telephony and IT services. 
During the year ending 30 September 2024, the business was pleased to experience continued year-on-year growth in revenue, with several key customer contracts renewed for a further 3 years. Customer churn remained low. 
The mobile market continues to see aggressive pricing, specifically from the Networks. Despite this, Gross Margin % was maintained due to continued focus on how and where we procure. Our O2 relationship was strengthened through a new O2 wholesale contract. 
During the year, we achieved recertification of ISO 9001 and 14001. We are 39.4 tonnes in carbon credit, in our commitment to achieving carbon neutrality.

Financial key performance indicators
 
                                                                 2024                     2023           Variance
   
Sales Turnover                                        £12.8m                 £12.0m              6.0% 
Gross Profit                                              £4.7m                  £4.2m               5.6%
Gross Profit Margin                                   36.7%                  35.4%              1.3%
EBITDA                                                    £1.0m                  £0.9m              14.0%
 

Principal risks and uncertainties
 
The mobile market continues to be aggressive, with Networks protecting their customer churn. 
There is the potential for future loss of margin on renewal of key contracts due to the strong competition in the marketplace. 
We face the challenge of speedily recruiting technical resource,  in order to meet the demands of growth and remain agile.
There will be an increase in salary costs due to the upcoming changes in Employers NI, and potential further employment legislation changes. 

Page 1

 
DATABASE FOR BUSINESS LTD
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024


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



................................................
S Pickering
Director

Date: 17 April 2025

Page 2

 
DATABASE FOR BUSINESS LTD
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

The Directors present their report and the financial statements for the year ended 30 September 2024.

Directors' responsibilities statement

The Directors are responsible for preparing the Strategic Report, the Directors' Report 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 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 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 for the Company'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 Company 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 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The profit for the year, after taxation, amounted to £500,536 (2023 - £566,193).

Dividends of £304,000 were declared in the year (2023 - £280,000).

Directors

The Directors who served during the year were:

C Beckley 
B Kingston 
S Pickering 
S Lee 
J Baxter 
J Ansell 
E Mullings 

Page 3

 
DATABASE FOR BUSINESS LTD
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024

Future developments

dbfb plans for continued growth in revenue both organically, and inorganically via acquisition. 
dbfb is now one of 11 partners directly on O2 wholesale in the UK and are also now partnered directly with BT Wholesale, which offers opportunities for future growth in the mobile market.
We continue to focus on key areas of People, Platforms, Solutions, Service and Sustainability.
Investment in new software is currently in the scoping phase; it is expected to deliver increased productivity and significantly enhance our service proposition.  
Focus on Public Sector and expansion into new UK territories, will deliver significant organic growth.  
We will continue to focus on ISO, environmental standards and supporting the local community. 
As part of our drive to carbon neutrality, we are now reviewing all of our suppliers to ensure alignment with our goals. 
Significant investment in headcount is planned for 2024/25 to support the organic growth. 

Disclosure of information to auditors

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's auditors are 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's auditors are aware of that information.

Post balance sheet events

There have been no significant events affecting the company since the year end.

Auditors

The auditor, MHA, previously traded through the legal entity MacIntyre Hudson LLP. In response to regulatory changes, MacIntyre Hudson LLP ceased to hold an audit registration with the engagement transitioning to MHA Audit Services LLP.
MHA will be proposed for reappointment in accordance with section 485 of the Companies Act 2006. 

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





................................................
S Pickering
Director

Date: 17 April 2025

Page 4

 
DATABASE FOR BUSINESS LTD
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DATABASE FOR BUSINESS LTD
 

Opinion


We have audited the financial statements of Database For Business Ltd (the 'Company') for the year ended 30 September 2024, which comprise the Statement of Income and Retained Earnings, the Balance Sheet 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 Company's affairs as at 30 September 2024 and of its profit 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 Auditors' 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 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 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 5

 
DATABASE FOR BUSINESS LTD
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DATABASE FOR BUSINESS LTD (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Directors are responsible for the other information contained within the Annual ReportOur 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 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 material misstatements in the Strategic Report or the Directors' Report.


Matters on which we are required to report by exception
 

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, 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.


Page 6

 
DATABASE FOR BUSINESS LTD
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DATABASE FOR BUSINESS LTD (CONTINUED)


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 3, 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.


Auditors' 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 Auditors' 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.


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:

-  Enquiry of management around actual and potential litigation and claims;
-  Performing audit work over the risk of management override of controls, including testing of journal    entries and other adjustments for appropriateness, evaluating the business rationale of significant     transactions outside the normal course of business and review of accounting estimates for      bias;
-  Reviewing financial statement disclosures and testing supporting documentation to assess compliance    with applicable laws and regulations.


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


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 Auditors' Report.


Page 7

 
DATABASE FOR BUSINESS LTD
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DATABASE FOR BUSINESS LTD (CONTINUED)


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 Auditors' 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.





Adam Young ACA (Senior Statutory Auditor)
  
for and on behalf of
MHA
 

Date:
 
 MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542)
30 April 2025
Page 8

 
DATABASE FOR BUSINESS LTD
 
 
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2024
2023
Note
£
£

  

Turnover
 4 
12,755,458
11,953,118

Cost of sales
  
(8,073,820)
(7,715,916)

Gross profit
  
4,681,638
4,237,202

Administrative expenses
  
(3,867,727)
(3,466,363)

Other operating income
 5 
18,000
18,000

Operating profit
 6 
831,911
788,839

Interest receivable and similar income
 10 
6,500
3,512

Interest payable and similar expenses
 11 
(161,537)
(104,764)

Profit before tax
  
676,874
687,587

Tax on profit
 12 
(176,338)
(121,394)

Profit after tax
  
500,536
566,193

  

  

Retained earnings at the beginning of the year
  
1,647,773
1,361,580

  
1,647,773
1,361,580

Profit for the year
  
500,536
566,193

Dividends declared and paid
  
(304,000)
(280,000)

Retained earnings at the end of the year
  
1,844,309
1,647,773
The notes on pages 11 to 25 form part of these financial statements.

Page 9

 
DATABASE FOR BUSINESS LTD
REGISTERED NUMBER: 03639825

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 14 
869,364
794,021

  
869,364
794,021

Current assets
  

Stocks
 15 
7,625
37,802

Debtors: amounts falling due within one year
 16 
3,235,162
3,686,380

Cash at bank and in hand
 17 
758,069
690,903

  
4,000,856
4,415,085

Creditors: amounts falling due within one year
 18 
(2,329,327)
(2,748,954)

Net current assets
  
 
 
1,671,529
 
 
1,666,131

Total assets less current liabilities
  
2,540,893
2,460,152

Creditors: amounts falling due after more than one year
 19 
(517,857)
(612,048)

Provisions for liabilities
  

Deferred tax
 21 
(168,727)
(190,331)

  
 
 
(168,727)
 
 
(190,331)

Net assets
  
1,854,309
1,657,773


Capital and reserves
  

Called up share capital 
 22 
10,000
10,000

Profit and loss account
 23 
1,844,309
1,647,773

  
1,854,309
1,657,773


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 April 2025.




................................................
S Pickering
Director

The notes on pages 11 to 25 form part of these financial statements.

Page 10

 
DATABASE FOR BUSINESS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Database for Business Ltd is a members limited liability company limited by shares, incorporated and registered in England, registration number 03639825. Its registered office and principal place of business is Talavera Court, Darnell Way, Northampton, NN3 6RW.

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 following principal accounting policies have been applied:

 
2.2

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 the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Firtitudo Limited as at 30 September 2024 and these financial statements may be obtained from Century House, 1 The Lakes, Northampton, United Kingdom, NN4 7HD.

 
2.3

Going concern

The financial statements have been prepared on a going concern basis. The Directors have considered relevant information, including the annual budget, and the impact of subsequent events in making their assessment.
Based on these assessments and having regard to the resources available to the entity, the Directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Page 11

 
DATABASE FOR BUSINESS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP, the accounts are rounded to the nearest whole £.

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 profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 12

 
DATABASE FOR BUSINESS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.5

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company 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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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 Company 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.

 
2.6

Operating leases: the Company 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.

 
2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.8

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.

Page 13

 
DATABASE FOR BUSINESS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.9

Borrowing costs

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

 
2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company 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 Company in independently administered funds.

 
2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.12

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.

Page 14

 
DATABASE FOR BUSINESS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.12
Tangible fixed assets (continued)

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:

Motor vehicles
-
3 years
Office equipment
-
5 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.

 
2.13

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.14

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.

 
2.15

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.

 
2.16

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.

Page 15

 
DATABASE FOR BUSINESS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.17

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.

 
2.18

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is
Page 16

 
DATABASE FOR BUSINESS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.18
Financial instruments (continued)

due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.19

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the Company's accounting policies, which are described in note 2, management have been required to make judgments, estimates and assumptions. These estimates which relate to the carrying value of assets and liabilities, where not readily available from other sources, are based on underlying assumptions and experience. Actual results may differ from these estimates. These estimates and assumption are reviewed on an on-going basis.
Sources of estimation uncertainty:
Depreciation rates are based on estimates of the useful lives and residual values of the associated
assets.
Bad debt provisions are based on the likely recovery of debtor balances.
Stock provisions are based on the likelihood of being able to sell the goods above cost or use them during production.


4.


Turnover

The whole of the turnover is attributable to the company's principal activity.

All turnover arose within the United Kingdom.


5.


Other operating income

2024
2023
£
£

Fees receivable
18,000
18,000


Page 17

 
DATABASE FOR BUSINESS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


Operating profit

The operating profit is stated after charging:

2024
2023
£
£

Depreciation of tangible assets
218,005
131,343

Other operating lease rentals
71,311
66,167


7.


Auditors' remuneration

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


2024
2023
£
£

Fees payable to the Company's auditors for the audit of the Company's financial statements
16,500
-


8.


Employees

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


2024
2023
£
£

Wages and salaries
2,149,538
1,949,102

Social security costs
228,710
211,100

Cost of defined contribution scheme
47,035
52,138

2,425,283
2,212,340


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


        2024
        2023
            No.
            No.







Employees
53
53

Page 18

 
DATABASE FOR BUSINESS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
519,860
371,243

Company contributions to defined contribution pension schemes
11,002
18,061

530,862
389,304


During the year retirement benefits were accruing to 3 Directors (2023 - 3) in respect of defined contribution pension schemes.

The highest paid Director received remuneration of £98,461 (2023 - £92,570).

The value of the Company's contributions paid to a defined contribution pension scheme in respect of the highest paid Director amounted to £NIL (2023 - £NIL).


10.


Interest receivable

2024
2023
£
£


Other interest receivable
6,500
3,512


11.


Interest payable and similar expenses

2024
2023
£
£


Bank interest payable
40,180
62,855

Other loan interest payable
70,996
-

HP interest payable
50,361
41,777

Other interest payable
-
132

161,537
104,764

Page 19

 
DATABASE FOR BUSINESS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

12.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
197,942
53,825

Adjustments in respect of previous periods
-
(41,396)


Total current tax
197,942
12,429

Deferred tax


Origination and reversal of timing differences
(21,604)
108,965

Total deferred tax
(21,604)
108,965


Tax on profit
176,338
121,394

Factors affecting tax charge for the year

The tax assessed for the year is higher than (2023 - lower than) the standard rate of corporation tax in the UK of 25% (2023 - 22%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
676,874
687,587


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 22%)
169,219
151,269

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
5,656
11,118

Capital allowances for year in excess of depreciation
-
(110,996)

Depreciation in excess of capital allowances
23,891
-

Adjustments to tax charge in respect of prior periods
-
(41,396)

Other timing differences leading to an increase (decrease) in taxation
(22,428)
111,399

Total tax charge for the year
176,338
121,394


Factors that may affect future tax charges

There are no factors that may affect future tax charges.

Page 20

 
DATABASE FOR BUSINESS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

13.


Dividends

2024
2023
£
£


Dividends paid
304,000
280,000


14.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 October 2023
438,853
838,295
1,277,148


Additions
181,814
111,534
293,348



At 30 September 2024

620,667
949,829
1,570,496



Depreciation


At 1 October 2023
130,150
352,977
483,127


Charge for the year on owned assets
79,790
138,215
218,005



At 30 September 2024

209,940
491,192
701,132



Net book value



At 30 September 2024
410,727
458,637
869,364



At 30 September 2023
308,703
485,318
794,021


15.


Stocks

2024
2023
£
£

Finished goods and goods for resale
7,625
37,802


Page 21

 
DATABASE FOR BUSINESS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

16.


Debtors

2024
2023
£
£


Trade debtors
979,370
802,377

Amounts owed by group undertakings
1,713,197
1,753,128

Other debtors
32,797
14,042

Prepayments and accrued income
509,798
1,116,833

3,235,162
3,686,380



17.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
758,069
690,903



18.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
140,042
123,348

Other loans
46,986
62,297

Trade creditors
955,435
1,343,629

Corporation tax
197,942
53,825

Other taxation and social security
367,479
349,349

Obligations under finance lease and hire purchase contracts
119,293
96,416

Other creditors
174,836
103,656

Accruals and deferred income
327,314
616,434

2,329,327
2,748,954


Obligations under finance lease and hire purchase contracts are secured on the fixed assets to which they relate to.

Page 22

 
DATABASE FOR BUSINESS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

19.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
25,070
164,675

Other loans
-
46,986

Net obligations under finance leases and hire purchase contracts
492,787
400,387

517,857
612,048


Obligations under finance lease and hire purchase contracts are secured on the fixed assets to which they relate to.


20.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
140,042
123,348

Other loans
46,986
62,297


187,028
185,645


Amounts falling due 2-5 years

Bank loans
25,070
164,675

Other loans
-
46,986


25,070
211,661


212,098
397,306


Page 23

 
DATABASE FOR BUSINESS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

21.


Deferred taxation




2024
2023


£

£






At beginning of year
(190,331)
(81,366)


Charged to profit or loss
21,604
(108,965)



At end of year
(168,727)
(190,331)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(170,803)
(194,034)

Short term timing differences
2,076
3,703

(168,727)
(190,331)


22.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100,000 (2023 - 100,000) Ordinary shares of £0.10 each
10,000
10,000



23.


Reserves

Profit and loss account

The profit and loss account includes all current and prior period retained profits and losses.


24.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. Contributions totalling £9,986 (2023: £9,059) were payable to the fund at the year end and are included in creditors.

Page 24

 
DATABASE FOR BUSINESS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

25.


Commitments under operating leases

At 30 September 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
184,592
165,932

Later than 1 year and not later than 5 years
275,733
369,868

Later than 5 years
-
5,030

460,325
540,830


26.


Related party transactions

The Company has taken advantage of the provisions available under section 33.1A of FRS102 not to report transactions with other wholly owned members of the group.
At the year end date the company was owed £179,391 (2023: £81,891) from Installations for Business Limited, a company in which the parent company has a 60% share in.


27.


Controlling party

The Company's immediate parent company is Dumbleton Limited and the ultimate controlling party of Firtitudo Limited, both of these companies are incorporated in England.

 
Page 25