REGISTERED NUMBER: 06041619 (England and Wales)

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTOR AND

AUDITED

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

DATA DIRECT HOLDINGS LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Director

3

Report of the Independent Auditors

5

Consolidated Statement of Comprehensive Income

8

Consolidated Balance Sheet

10

Company Balance Sheet

11

Consolidated Statement of Changes in Equity

12

Company Statement of Changes in Equity

13

Consolidated Cash Flow Statement

14

Notes to the Consolidated Cash Flow Statement

15

Notes to the Consolidated Financial Statements

17

DIRECTOR:

P M Winterbotham

REGISTERED OFFICE:

11 Ivanhoe Road

Hogwood Industrial Estate

Finchampstead

Wokingham

Berkshire

RG40 4QQ

REGISTERED NUMBER:

06041619 (England and Wales)

AUDITORS:

TGFP

Chartered Accountants & Statutory Auditors

Fulford House

Newbold Terrace

Leamington Spa

Warwickshire

CV32 4EA

The director presents his strategic report of the company and the group for the year ended 31 March 2025.

REVIEW OF BUSINESS

The Data Direct group has developed a strategic plan which is reviewed every year. This is being delivered in all areas of the business to:

- Maintain and strengthen our position in the marketplace

- Develop and support our customers to ensure that we maintain high standards of professionalism

- Maintain and build upon our financial performance

PRINCIPAL RISKS AND UNCERTAINTIES

Credit Risk

The group manages credit risk through export insurance, and monitoring levels of credit given to customers.

Competitive Risk

The group operates in a competitive environment, to mitigate this risk, we ensure that the services provided are in line with our customers needs, and that strong relationships are maintained with our key customers.

Technical Risk

The group ensures that it has appropriate professional indemnity insurance.

KEY PERFORMANCE INDICATORS

The turnover has increased from £20.5million in 2024 to £21.8million in 2025.

Gross profit margin has increased from 21.97% in 2024 to 23.62% in 2025.

We have continued to sustain a net current asset position within the group, and our key performance indicators of debtor days have decreased from 69 days last year to 58 days this year. Stock days have decreased to 70 days from 75 days in 2024. This is representative of the market conditions, and our move to ensure we have appropriate stock levels in place to counter any delays in shipping.

FUTURE DEVELOPMENTS

The directors continue to ensure strategies are in place to innovate and ensure efficiencies throughout the business. The directors continue to remain agile to current market conditions.

ON BEHALF OF THE BOARD:

P M Winterbotham - Director

24 December 2025

The director presents his report with the financial statements of the company and the group for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of a holding company.

The principal activity of the group in the year under review was that of the sale of computer consumables.

DIVIDENDS

Details of dividends paid are disclosed in Note 11 to the Consolidated Financial Statements.

DIRECTOR

P M Winterbotham held office during the whole of the period from 1 April 2024 to the date of this report.

FINANCIAL INSTRUMENTS

The business' principal financial instruments comprise bank balances, trade debtors and trade creditors. The main purpose of these instruments is to finance the business' operations.

Debtors are managed in respect of credit risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits.

Creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

DISCLOSURE IN THE STRATEGIC REPORT

In accordance with section 414C(11) of the Companies Act 2006 (Strategic Report and Directors Report) Regulations 2013, the company has prepared a Strategic Report, which includes information that would have previously been included in the Directors' Report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is 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 director is required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements 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 director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

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

ON BEHALF OF THE BOARD:

P M Winterbotham - Director

24 December 2025

Opinion

We have audited the financial statements of Data Direct Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The 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 affairs as at 31 March 2025 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 Auditors' 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 UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's 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 and 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Director 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 Report of the Director.

We have nothing to report in respect of the following matters where 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 director's remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is 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 director either intends to liquidate the group or the parent company or to cease operations, or has 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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We have considered how irregularities, including fraud, can be detected in this business and how they may occur.

To mitigate these risks we have carried out the following risk assessment procedures:

- Enquiry with management and those charged with governance regarding any known or suspected instances of fraud;

- Performing analytical review procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

- Testing of journal entries throughout the year and post year end which met a defined risk criteria.

In respect of non- compliance with laws and regulations we have carried out the following enquiries:

- Review of correspondence with tax authorities for any instances of non-compliance with tax laws and regulations;

- Reviewing the financial statements disclosures and agreeing to supporting documentation

- Review of legal expenditure and understanding the nature of expenditure incurred.

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 Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors 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.

BENJAMIN REYNOLDS BSc(Hons) FCA (Senior Statutory Auditor)

for and on behalf of TGFP

Chartered Accountants & Statutory Auditors

Fulford House

Newbold Terrace

Leamington Spa

Warwickshire

CV32 4EA

24 December 2025

TURNOVER

3

21,769,781

20,451,132

Cost of sales

16,627,298

15,957,508

GROSS PROFIT

5,142,483

4,493,624

Distribution costs

1,777,048

1,423,616

Administrative expenses

2,447,085

2,374,688

4,224,133

3,798,304

918,350

695,320

Other operating income

4

91,666

99,198

OPERATING PROFIT

6

1,010,016

794,518

Interest receivable and similar income

59,604

-

1,069,620

794,518

Amounts written off investments

8

1,700,000

-

(630,380

)

794,518

Interest payable and similar expenses

9

156,844

175,288

(LOSS)/PROFIT BEFORE TAXATION

(787,224

)

619,230

Tax on (loss)/profit

10

245,840

213,401

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(1,033,064

)

405,829

OTHER COMPREHENSIVE INCOME

Property revaluations

781,848

-

Deferred tax on revaluations

(242,122

)

-

Accumulated depreciation on revaluations

239,087

-

Income tax relating to components of other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

778,813

-

TOTAL COMPREHENSIVE (LOSS)/INCOME FOR THE YEAR

(254,251

)

405,829

(Loss)/profit attributable to:

Owners of the parent

(1,033,064

)

405,829

Total comprehensive (loss)/income attributable to:

Owners of the parent

(254,251

)

405,829

FIXED ASSETS

Intangible assets

13

-

-

Tangible assets

14

2,817,286

1,825,459

Investments

15

-

1,700,000

Investment property

16

1,550,676

-

4,367,962

3,525,459

CURRENT ASSETS

Stocks

17

3,186,337

3,258,187

Debtors

18

6,507,763

7,185,917

Cash at bank

256,884

517,977

9,950,984

10,962,081

CREDITORS

Amounts falling due within one year

19

8,876,980

8,713,492

NET CURRENT ASSETS

1,074,004

2,248,589

TOTAL ASSETS LESS CURRENT LIABILITIES

5,441,966

5,774,048

CREDITORS

Amounts falling due after more than one year

20

(1,325,285

)

(1,483,452

)

PROVISIONS FOR LIABILITIES

25

(262,356

)

(24,020

)

NET ASSETS

3,854,325

4,266,576

CAPITAL AND RESERVES

Called up and paid share capital

26

10,000

10,000

Revaluation reserve

27

586,386

-

Retained earnings

27

3,257,939

4,256,576

SHAREHOLDERS' FUNDS

3,854,325

4,266,576

The financial statements were approved by the director and authorised for issue on 24 December 2025 and were signed by:

P M Winterbotham - Director

FIXED ASSETS

Intangible assets

13

-

-

Tangible assets

14

-

-

Investments

15

3,591,848

3,591,848

Investment property

16

1,550,676

-

5,142,524

3,591,848

CURRENT ASSETS

Cash at bank

8,034

244

CREDITORS

Amounts falling due within one year

19

4,700,989

3,296,951

NET CURRENT LIABILITIES

(4,692,955

)

(3,296,707

)

TOTAL ASSETS LESS CURRENT LIABILITIES

449,569

295,141

CAPITAL AND RESERVES

Called up and paid share capital

26

10,000

10,000

Retained earnings

27

439,569

285,141

SHAREHOLDERS' FUNDS

449,569

295,141

Company's profit for the financial year

312,428

292,276

The financial statements were approved by the director and authorised for issue on 24 December 2025 and were signed by:

P M Winterbotham - Director

Called up

and paid

share

Retained

Revaluation

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 April 2023

10,000

4,150,747

-

4,160,747

Changes in equity

Total comprehensive income

-

405,829

-

405,829

Dividends

-

(300,000

)

-

(300,000

)

Balance at 31 March 2024

10,000

4,256,576

-

4,266,576

Changes in equity

Total comprehensive loss

-

(254,251

)

-

(254,251

)

Dividends

-

(158,000

)

-

(158,000

)

Transfer

-

(586,386

)

586,386

-

Balance at 31 March 2025

10,000

3,257,939

586,386

3,854,325

Called up

and paid

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

10,000

292,865

302,865

Changes in equity

Total comprehensive income

-

292,276

292,276

Dividends

-

(300,000

)

(300,000

)

Balance at 31 March 2024

10,000

285,141

295,141

Changes in equity

Total comprehensive income

-

312,428

312,428

Dividends

-

(158,000

)

(158,000

)

Balance at 31 March 2025

10,000

439,569

449,569

Cash flows from operating activities

Cash generated from operations

1

710,133

1,199,295

Interest paid

(143,493

)

(172,304

)

Interest element of hire purchase payments paid

(13,351

)

(2,984

)

Tax paid

(278,257

)

(2,791

)

Net cash from operating activities

275,032

1,021,216

Cash flows from investing activities

Purchase of tangible fixed assets

(19,090

)

(6,237

)

Interest received

59,604

-

Net cash from investing activities

40,514

(6,237

)

Cash flows from financing activities

Bank and other loans raised

341,570

-

Bank and other loans repaid

(444,923

)

(442,419

)

Hire purchase capital repaid

(14,750

)

(14,750

)

Amount withdrawn by directors

(300,536

)

(66,070

)

Equity dividends paid

(158,000

)

(300,000

)

Net cash from financing activities

(576,639

)

(823,239

)

(Decrease)/increase in cash and cash equivalents

(261,093

)

191,740

Cash and cash equivalents at beginning of year

2

517,977

326,237

Cash and cash equivalents at end of year

2

256,884

517,977

1.	RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

(Loss)/profit before taxation

(787,224

)

619,230

Depreciation charges

48,198

248,177

Impairment loss on investments

1,700,000

-

Finance costs

156,844

175,288

Finance income

(59,604

)

-

1,058,214

1,042,695

Decrease in stocks

71,850

90,529

Decrease/(increase) in trade and other debtors

678,154

(425,699

)

(Decrease)/increase in trade and other creditors

(1,098,085

)

491,770

Cash generated from operations

710,133

1,199,295

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

256,884

517,977

Year ended 31 March 2024

31.3.24

1.4.23

£

£

Cash and cash equivalents

517,977

326,237

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank

517,977

(261,093

)

256,884

517,977

(261,093

)

256,884

Debt

Finance leases

(29,500

)

14,750

(14,750

)

Debts falling due within 1 year

(3,210,044

)

108,115

(3,101,929

)

Debts falling due after 1 year

(1,468,702

)

143,417

(1,325,285

)

(4,708,246

)

266,282

(4,441,964

)

Total

(4,190,269

)

5,189

(4,185,080

)

1.	STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£), which is the functional currency of the company, and rounded to the nearest £1.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Financial Reporting Standard 102 - reduced disclosure exemptions

FRS 102 allows a qualifying entity certain disclosure exemptions. The company has taken advantage of the following available exemptions:

1 - the requirement to prepare a statement of cash flows;

2 - financial instruments disclosures, including categories of financial instruments; and

3 - the disclosure of key management personnel remuneration in total.

Basis of consolidation

The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31 March 2025.

A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.

The results of subsidiaries acquired or disposed of during the year are included in profit or loss from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.

The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirers interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.

Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.

Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interest in the net assets of consolidated subsidiaries are identified separately from the group's equity therein.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Judgements and key sources of estimation uncertainty

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

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

A key area of uncertainty is the recoverability of all related party debtor balances. Please refer to note 18 in the financial statements.

Key accounting estimates include the assessment of impairment of the loans to a related party. This is considered by the directors on an annual basis, based on the expectations of repayment by the related party. In the current year no impairment was required.

Going concern

The financial statements have been prepared on the going concern basis. The director, having made due and careful inquiry into the budgets for the next 12 months, has made an informed judgement, at the time of approving these financial statements, that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the group's activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Revenue from the sale of goods is recognised when the following conditions have been satisfied:

- Significant risks and rewards of ownership have been transferred to the buyer which is generally considered to occur when the goods have been delivered to the customer's specified location;

- The amount of revenue can be measured reliably;

- It is probable that the economic benefits associated with the transactions will flow to the group;

- The costs incurred or to be incurred in respect of the transaction can be measured reliably.

Goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years.