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Registered number: 08645934 (England and Wales)














KATALYST DATA MANAGEMENT LIMITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
KATALYST DATA MANAGEMENT LIMITED
 
 
COMPANY INFORMATION


Directors
S Epstein 
O O Levi 
D W Norburn 




Registered number
08645934



Registered office
Birchin Court
5th Floor

19-25 Birchin Lane

London

United Kingdom

EC3V 9DU




Independent auditors
ZEDRA Corporate Reporting Services (UK) Limited





 
KATALYST DATA MANAGEMENT LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 10


 
KATALYST DATA MANAGEMENT LIMITED
REGISTERED NUMBER:08645934

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible fixed assets
 4 
779
2,337

Tangible fixed assets
 5 
128,329
77,452

  
129,108
79,789

Current assets
  

Debtors: amounts falling due within one year
 6 
663,519
486,825

Bank and cash balances
  
173,704
122,007

  
837,223
608,832

Creditors: amounts falling due within one year
 7 
(1,690,646)
(1,185,893)

Net current liabilities
  
 
 
(853,423)
 
 
(577,061)

Total assets less current liabilities
  
(724,315)
(497,272)

  

Net liabilities
  
(724,315)
(497,272)

Page 1

 
KATALYST DATA MANAGEMENT LIMITED
REGISTERED NUMBER:08645934
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

2024
2023
£
£

Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(724,316)
(497,273)

  
(724,315)
(497,272)


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




O O Levi
Director

Date: 11 July 2025

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
KATALYST DATA MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.Accounting policies

 
1.1

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

  
1.2

Going concern

The directors have considered the ability of the Company to continue for a period of at least 12 months from the date of approval of these financial statements. 
Whilst the Company is in a net liability position, this is primarily due to the intercompany loan payable. The directors have received a confirmation from Katalyst Data Management Holdings Inc. that they would not intend to recall this loan until the Company has such funds to be able to repay it.
Furthermore, the directors have reviewed the forecast cash flows for the Company, together with an assessment of expected revenue growth and budgeted expenses and concluded that the Company is expected to have sufficient resources to continue operating for a period of at least 12 months from the signing of these financial statements. For these reasons, the Company’s financial statements are prepared on the going concern basis.

 
1.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

Page 3

 
KATALYST DATA MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.Accounting policies (continued)


1.3
Turnover (continued)

Turnover is derived from one end-to-end service to third parties and is based on contracts which are either fixed or determinable prices in relation to data management. Fees are recognised on a stage of completion basis in line with performance obligations within the individual contracts. 
Turnover is also derived from contracts with customers to provide loaned assets, these are fixed term contracts with set prices. The company acts as a lessor in respect of these contracts.
The Company recognises income from services provided to other group companies as other income within turnover.

 
1.4

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Computer software
-
3 years

 
1.5

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.

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.

The estimated useful lives range as follows:

Short-term leasehold property
-
Over the remaining lease period
Office equipment
-
5 years
Computer equipment
-
3 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.

 
1.6

Debtors

Short-term debtors are measured at transaction price, less any impairment.

Page 4

 
KATALYST DATA MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.Accounting policies (continued)

 
1.7

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.

 
1.8

Creditors

Short-term creditors are measured at the transaction price. Amounts owed to group undertakings are intercompany loans measured at cost. These loans are unsecured, interest free and repayable on demand.

 
1.9

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

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.

  
1.10

Group recharges

Costs are recharged to other group companies in the period in which they are incurred.

 
1.11

Interest payable

Interest payable costs are charged to the 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.

 
1.12

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.

 
1.13

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.

Page 5

 
KATALYST DATA MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.Accounting policies (continued)

 
1.14

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. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.



2.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 11 July 2025 by Edward Wallis ACA (Senior Statutory Auditor) on behalf of ZEDRA Corporate Reporting Services (UK) Limited.


3.


Employees

The average monthly number of employees during the year was 15 (2023 - 15).

Page 6

 
KATALYST DATA MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Intangible assets




Computer software

£



Cost


At 1 January 2024
8,117



At 31 December 2024

8,117



Amortisation


At 1 January 2024
5,780


Charge for the year on owned assets
1,558



At 31 December 2024

7,338



Net book value



At 31 December 2024
779



At 31 December 2023
2,337



Page 7

 
KATALYST DATA MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Short-term leasehold property
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2024
9,601
39,045
616,364
665,010


Additions
-
5,213
112,219
117,432



At 31 December 2024

9,601
44,258
728,583
782,442



Depreciation


At 1 January 2024
9,601
33,404
544,553
587,558


Charge for the year on owned assets
-
2,822
63,733
66,555



At 31 December 2024

9,601
36,226
608,286
654,113



Net book value



At 31 December 2024
-
8,032
120,297
128,329



At 31 December 2023
-
5,641
71,811
77,452


6.


Debtors

2024
2023
£
£


Trade debtors
540,827
284,311

Other debtors
5,433
3,101

Prepayments and accrued income
117,259
49,023

Deferred taxation
-
150,390

663,519
486,825


Page 8

 
KATALYST DATA MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
56,983
24,093

Amounts owed to group undertakings
478,243
218,379

Amounts owed to parent company
956,415
726,593

Other taxation and social security
88,729
71,151

Other creditors
6,574
14,293

Accruals and deferred income
103,702
131,384

1,690,646
1,185,893


On 6 May 2014, a general security agreement was registered in favour of Katalyst Data Management Holdings Inc. securing the loan balance due from the Company by way of a fixed and floating charge over the Company's assets. At the balance sheet date the loan balance was £956,415 (2023: £726,593). Interest is charged on the outstanding balance at the Bank of England Base Rate plus 8% per annum.


8.


Deferred taxation




2024


£






At beginning of year
150,390


Charged to profit or loss
(150,390)



At end of year
-

The deferred tax asset is made up as follows:

2024
2023
£
£


Accelerated capital allowances
-
(9,907)

Tax losses carried forward
-
160,297

-
150,390

Page 9

 
KATALYST DATA MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.

Commitments under operating leases

At 31 December 2024, the company had future minimum lease payments under non-cancellable operating leases as follows:

2024
2023
        £
        £
Not later than one year

52,450

-
 
Later than one year

83,046

-
 

135,496

-
 


10.


Controlling party

Katalyst Data Management LP is the parent of the smallest group for which consolidated financial statements are drawn up of which the Company is a member. The registered office of the ultimate parent company is Suite 168A, 28th Street S.E, Calgary, Alberta T2A 6J9, Canada.


11.


Post balance sheet events

There were no adjusting or non-adjusting events occurring between the end of the reporting period and the date these financial statements were approved. 
 
Page 10