Demandbase Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—5

1. General Information

Demandbase Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09847257 . The registered office is 3rd Floor, 86-90 Paul Street, London, EC2A 4NE.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors believe that the company is experiencing good levels of sales growth, and that it is well placed to

manage its business risks successfully. The directors have received confirmation of continued financial support for the foreseeable future from the parent company, Demandbase Inc. and therefore the directors have a reasonable expectation that the Company has adequate resources to continue in operation existence for the forseeable future.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Computer Equipment

25% Straight Line Method

2.5. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible

temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.7. Pensions

The company operates a defined pension contribution scheme, the pension charge represents the amount payable by the company to the fund in respect of the year.

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Demandbase Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.8. Share based Payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition. The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the company keeping the scheme open or the employee maintaining any contributions required by the scheme). Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.

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. Cash is presented as an amount due from group undertakings.

2.11. 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.

2.12. Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods.

This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 33 (2023: 20)

4. Prior Period Adjustment

During the audit for the year ended 31 December 2024, it was identified that a cumulative SBC charge amounting to £258,208 was incorrectly not recognised as at 31 December 2023. In addition, the corresponding SBC charge for 2023 amounting to £120,404 and the intercompany revenue & associated tax impact was not booked in the prior year in relation to the associated cost.

The net impact of these adjustments for the year ended 31 December 2023 is:

Decrease in amounts owed to group undertakings by - (£141,170)

Decrease in deferred tax asset - (£29,763)

Increase in turnover by - £237,442

Increase in expenditure by - £120,404

Decrease in reserves by - (£170,933)

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Demandbase Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Tangible Assets

	Computer Equipment
	£
Cost
As at 1 January 2024	-
Additions	3,958

As at 31 December 2024	3,958

Depreciation
As at 1 January 2024	-
Provided during the period	1,319

As at 31 December 2024	1,319

Net Book Value
As at 31 December 2024	2,639

As at 1 January 2024	-

6. Debtors

	2024	2023 as restated
	£	£
Due within one year
Trade debtors	863,624	847,185
Prepayments and accrued income	27,757	11,117
Other debtors	424,301	104,785
Amounts owed by group undertakings	598,956	318,502

	1,914,638	1,281,589
Due after more than one year
Deferred tax current asset	2,097	2,096

	1,916,735	1,283,685

7. Creditors: Amounts Falling Due Within One Year

	2024	2023 as restated
	£	£
Trade creditors	119	7,876
Corporation tax	100,189	-
Other taxes and social security	161,827	82,800
VAT	110,964	88,480
Accruals and deferred income	1,523,708	1,122,722

	1,896,807	1,301,878

8. Secured Creditors

On the 31st January 2024, Demandbase Inc. (acting on the Company’s behalf) granted to the Administrative Agent (Silicon Valley Bank, a division of First-Citizens Bank & Trust Company) a charge over all of its fixed & floating assets.

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Demandbase Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

9. Share Capital

	2024	2023 as restated
Allotted, called up and fully paid	£	£
1 Ordinary Shares of £ 100.000 each	100	100

10. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2024	2023 as restated
	£	£
Not later than one year	30,000	-

	30,000	-

11. Pension Commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £110,392 (2023: £66,135). Contributions totalling £10,630 (2023: £7,978) were payable to the fund at the balance sheet date and are included in creditors.

12. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our Auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

13. Ultimate Controlling Party

The immediate and ultimate parent undertaking and controlling party is Demandbase Inc. which is incorporated in the United States of America, is regarded by the directors as the Company’s immediate and ultimate parent company.

The smallest and largest company for which group accounts have been prepared, and which includes Demandbase Limited is that headed by Demandbase Inc. Copies of these accounts can be obtained from 222 2nd Street, 24th Floor, San Francisco, CA 94105.

14. Audit Information

The auditor's report on the accounts of Demandbase Limited for the year ended 31 December 2024 was unqualified.

The auditor's report was signed by Anthony Campbell (Senior Statutory Auditor) for and on behalf of Nortons Assurance Limited , Statutory Auditor.

Nortons Assurance Limited

Second Floor, NOW Building

Thames Valley Park

Reading

Berkshire

RG7 1NT

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		2024		2023 as restated
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		2,639		-

			2,639		-
CURRENT ASSETS
Debtors	6	1,916,735		1,283,685

		1,916,735		1,283,685
Creditors: Amounts Falling Due Within One Year	7	(1,896,807 )		(1,301,878 )

NET CURRENT ASSETS (LIABILITIES)			19,928		(18,193 )

TOTAL ASSETS LESS CURRENT LIABILITIES			22,567		(18,193 )

NET ASSETS/(LIABILITIES)			22,567		(18,193 )

CAPITAL AND RESERVES
Called up share capital	9		100		100
Other reserves			(54,704 )		(54,704 )
Profit and Loss Account			77,171		36,411

SHAREHOLDERS' FUNDS			22,567		(18,193)