Company registration number 10719271 (England and Wales)
BUSINESS DATA PARTNERS HOLDINGS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
BUSINESS DATA PARTNERS HOLDINGS LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Directors' responsibilities statement
4
Independent auditor's report
5 - 7
Group income statement
8
Group statement of comprehensive income
9
Group statement of financial position
10
Company statement of financial position
11
Group statement of changes in equity
12
Company statement of changes in equity
13
Group statement of cash flows
14
Notes to the financial statements
15 - 29
BUSINESS DATA PARTNERS HOLDINGS LIMITED
COMPANY INFORMATION
Directors
M Houas
J Hoey
M Thepaut
P Cassoulat
Company number
10719271
Registered office
Fieldfisher Riverbank House
2 Swan Lane
London
United Kingdom
EC4R 3TT
Auditor
Azets Audit Services
Bulman House
Regent Centre
Gosforth
Newcastle upon Tyne
NE3 3LS
BUSINESS DATA PARTNERS HOLDINGS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

The directors present the strategic report for the year ended 31 December 2025.

Principal activities

The principal activity of the company is that of a holding company. The principal activity of it's subsidiary continued to be that of data management and analytics consultancy.

Review of the business

Talan Data & AI is the trading name for Business Data Partners Limited. Talan Data & AI commands an impeccable track record in the data management and analytics sector, with long standing relationships across clients in banking, insurance, retail and public sector. Since the company first launched, it has grown steadily, with offices in London, Leeds, Manchester, Sunderland and Edinburgh.

2025 showed some upturn in the financial markets with growth in the key accounts. Profit before Tax improved by 65.3%. Working capital remained strong throughout the year increasing by 12.7%.

The group's key financial and other performance indicators during the year were as follows:

U ni t | 202 5 | 202 4

Turnover | £ | 19,562,225 | 17,797,700
Gross profit | £ | 5,049,682 | 3,839,899
Gross profit margin | % | 26 | 2 2
P rofit before tax | £ | 1,220,451 | 738,113

Principal risks and uncertainties

Loss of key customers - the group has regular reviews to ensure that it is not solely reliant on individual clients and contracts.

Loss of key employees - the group aims to retain employees by offering competitive and attractive salary packages in a rewarding culture, with rapid recognition of progress and a series of retention initiatives.

Risk of competition - the group supplies services to a market which is difficult to enter due to the specialist nature of our services. The customer relationships established over a number of years with key clients places the Group in a very strong position.

On behalf of the board

M Thepaut
Director
6 August 2026
BUSINESS DATA PARTNERS HOLDINGS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -

The directors present their annual report and financial statements for the year ended 31 December 2025.

Results and dividends

The results for the year are set out on page 8.

No ordinary dividends were paid. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

M Houas
J Hoey
M Thepaut
P Cassoulat
Financial instruments
Liquidity risk

Cash flow and liquidity risk is the risk that a group's available cash will not be sufficient to meet its financial obligations. The group actively manages its cash flow position including collection of debts and timely payment of creditors. This, coupled with the strong cash position of the group is deemed sufficient to minimise the group's exposure to cash flow and liquidity risk.

Foreign currency risk

Foreign exchange risk refers to the potential for loss from exposure to foreign exchange rate fluctuations. Group policies are aimed at minimising this risk. The group does not consider that it is materially exposed to foreign exchange risk.

Credit risk

Credit risk is the risk that one party of a financial instrument will cause a financial loss for the other party by failing to discharge its obligation. Group policies are aimed at minimising such losses and require customers to satisfy credit worthiness procedures prior to acceptance of contracts. The group does not consider that it is materially exposed to credit risk.

Price risk

The group does not consider that it is materially exposed to price risk.

Future developments

See disclosures within the Strategic Report regarding future developments of the group.

Auditor

In accordance with the company's articles, a resolution proposing that be reappointed as auditor of the group will be put at a General Meeting.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

BUSINESS DATA PARTNERS HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
On behalf of the board
M Thepaut
Director
6 August 2026
BUSINESS DATA PARTNERS HOLDINGS LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 4 -

The directors are responsible for preparing the Annual 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies 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 group and company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

BUSINESS DATA PARTNERS HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF BUSINESS DATA PARTNERS HOLDINGS LIMITED
- 5 -
Opinion

We have audited the financial statements of Business Data Partners Holdings Limited (the 'parent company') and its subsidiar y (the 'group') for the year ended 31 December 2025 which comprise the group income statement, the group statement of comprehensive income, the group statement of financial position, the company statement of financial position, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including 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 the parent company's affairs as at 31 December 2025 and of the group's 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company 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 directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

- T he information given in the strategic report and the directors' r eport 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.

BUSINESS DATA PARTNERS HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF BUSINESS DATA PARTNERS HOLDINGS LIMITED
- 6 -
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 their environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

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

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

- the parent company financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

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

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, 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 parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

BUSINESS DATA PARTNERS HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF BUSINESS DATA PARTNERS HOLDINGS LIMITED
- 7 -

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

We identified the following applicable laws and regulations as those most likely to have a material impact on the financial statements: Health and Safety; employment law (including the Working Time Directive); and compliance with the UK Companies Act.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

- Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;

- Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection;

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

- Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, and reviewing accounting estimates for indicators of potential bias.

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 of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

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 an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Claire Hinshaw ACCA (Senior Statutory Auditor)
For and on behalf of Azets Audit Services, Statutory Auditor
Chartered Accountants
Bulman House
Regent Centre
Gosforth
Newcastle upon Tyne
NE3 3LS
11 August 2026
BUSINESS DATA PARTNERS HOLDINGS LIMITED
GROUP INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
2025
2024
Notes
£
£
Turnover
3
19,562,225
17,797,700
Cost of sales
(14,512,543)
(13,957,801)
Gross profit
5,049,682
3,839,899
Administrative expenses
(4,071,126)
(3,395,470)
Operating profit
4
978,556
444,429
Interest receivable and similar income
8
243,563
308,150
Interest payable and similar expenses
9
(1,668)
(14,466)
Profit before taxation
1,220,451
738,113
Tax on profit
10
(300,289)
(206,989)
Profit for the financial year
21
920,162
531,124
Profit for the financial year is all attributable to the owners of the parent company.
BUSINESS DATA PARTNERS HOLDINGS LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
- 9 -
2025
2024
£
£
Profit for the year
920,162
531,124
Other comprehensive income
-
-
Total comprehensive income for the year
920,162
531,124
Total comprehensive income for the year is all attributable to the owners of the parent company.
BUSINESS DATA PARTNERS HOLDINGS LIMITED
GROUP STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2025
31 December 2025
- 10 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
-
0
-
0
Tangible assets
12
67,408
51,576
67,408
51,576
Current assets
Debtors
15
8,862,043
9,153,167
Cash at bank and in hand
3,267,048
2,085,869
12,129,091
11,239,036
Creditors: amounts falling due within one year
16
(3,782,054)
(3,833,429)
Net current assets
8,347,037
7,405,607
Total assets less current liabilities
8,414,445
7,457,183
Creditors: amounts falling due after more than one year
17
(613,671)
(576,571)
Net assets
7,800,774
6,880,612
Capital and reserves
Called up share capital
20
949
949
Share premium account
21
1,033,954
1,033,954
Capital redemption reserve
21
54
54
Profit and loss reserves
21
6,765,817
5,845,655
Total equity
7,800,774
6,880,612

These financial statements have been prepared in accordance with the provisions relating to medium-sized groups.

The financial statements were approved by the board of directors and authorised for issue on 6 August 2026 and are signed on its behalf by:
06 August 2026
M Thepaut
Director
Company registration number 10719271 (England and Wales)
BUSINESS DATA PARTNERS HOLDINGS LIMITED
COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
31 December 2025
- 11 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investments
13
1,005,135
1,005,135
Current assets
Cash at bank and in hand
31,276
31,306
Creditors: amounts falling due within one year
16
(61,043)
(57,627)
Net current liabilities
(29,767)
(26,321)
Net assets
975,368
978,814
Capital and reserves
Called up share capital
20
949
949
Share premium account
21
1,033,954
1,033,954
Capital redemption reserve
21
54
54
Profit and loss reserves
21
(59,589)
(56,143)
Total equity
975,368
978,814

As permitted by s408 Companies Act 2006, the c ompany has not presented its own profit and loss account and related notes. The c ompany’s loss for the year was £3,446 (2024 - £5,198 loss).

The financial statements were approved by the board of directors and authorised for issue on 6 August 2026 and are signed on its behalf by:
06 August 2026
M Thepaut
Director
Company registration number 10719271 (England and Wales)
BUSINESS DATA PARTNERS HOLDINGS LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 12 -
Share capital
Share premium account
Capital redemption reserve
Profit and loss reserves
Total
£
£
£
£
£
Balance at 1 January 2024
949
1,033,954
54
5,314,531
6,349,488
Year ended 31 December 2024:
Profit and total comprehensive income
-
-
-
531,124
531,124
Balance at 31 December 2024
949
1,033,954
54
5,845,655
6,880,612
Year ended 31 December 2025:
Profit and total comprehensive income
-
-
-
920,162
920,162
Balance at 31 December 2025
949
1,033,954
54
6,765,817
7,800,774
BUSINESS DATA PARTNERS HOLDINGS LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 13 -
Share capital
Share premium account
Capital redemption reserve
Profit and loss reserves
Total
£
£
£
£
£
Balance at 1 January 2024
949
1,033,954
54
(50,945)
984,012
Year ended 31 December 2024:
Loss and total comprehensive income for the year
-
-
-
(5,198)
(5,198)
Balance at 31 December 2024
949
1,033,954
54
(56,143)
978,814
Year ended 31 December 2025:
Profit and total comprehensive income
-
-
-
(3,446)
(3,446)
Balance at 31 December 2025
949
1,033,954
54
(59,589)
975,368
BUSINESS DATA PARTNERS HOLDINGS LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 14 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from/(absorbed by) operations
24
1,218,444
(401,122)
Interest paid
(1,668)
(14,466)
Income taxes (paid)/refunded
(229,001)
29,427
Net cash inflow/(outflow) from operating activities
987,775
(386,161)
Investing activities
Purchase of tangible fixed assets
(50,159)
(48,861)
Interest received
243,563
308,150
Net cash generated from investing activities
193,404
259,289
Net increase/(decrease) in cash and cash equivalents
1,181,179
(126,872)
Cash and cash equivalents at beginning of year
2,085,869
2,212,741
Cash and cash equivalents at end of year
3,267,048
2,085,869
BUSINESS DATA PARTNERS HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 15 -
1
Accounting policies
Company information

Business Data Partners Holdings Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Fieldfisher Riverbank House, 2 Swan Lane, London, EC4R 3TT .

The group consists of Business Data Partners Holdings Limited and it's subsidiary company.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

1.2
Business combinations

In the parent company financial statements, t he cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. I nvestments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

BUSINESS DATA PARTNERS HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 16 -
1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Business Data Partners Holdings Limited together with all entities controlled by the parent company (its subsidiaries).

All financial statements are made up to 31 December 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the g roup.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

1.4
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

The business is focused on recruitment to support future growth and demand for our services is strong.

At the time of signing the financial statements, the company had positive cash balances and no external borrowing. The Directors believe that the company’s cost base can be effectively controlled and flexed to meet any increase or reduction in income.

The company’s forecasts and projections for the next twelve months show that the company should be able to continue in operational existence for that period.

Based on the factors set out above the directors believe that it remains appropriate to prepare the financial statements on a going concern basis.

1.5
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

The company recognises revenue when:

The amount of revenue can be reliably measured;

It is probably that future economic benefits will flow to the entity; and

Specific criteria have been met for each of the company's activities.

1.6
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business 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 ten years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

BUSINESS DATA PARTNERS HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 17 -
1.7
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the income statement.

1.8
Fixed asset investments

Equity in vest ments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

I n the parent company financial statements, investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

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

1.9
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

BUSINESS DATA PARTNERS HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 18 -
1.10
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

1.11
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the group's statement of financial position when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest m ethod 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. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of 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 group after deducting all of its liabilities.

BUSINESS DATA PARTNERS HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 19 -
Basic financial liabilities

Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.12
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.13
Taxation

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

Current tax

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

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.14
Employee benefits

The costs of short-term employee benefits are recognised as an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

BUSINESS DATA PARTNERS HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 20 -
1.15
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.16
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease d asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the group’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.

Critical judgements
Employee incentive accrual

Management judgement is required to assess the likelihood of the number of employees who will achieve the long-term incentive reward target. This is based on the number of reward points accrued to date.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Employee incentive accrual

Management judgement is required to assess the likelihood of the number of employees who will achieve the long-term incentive reward target. This is based on the number of reward points accrued to date. Amount accrued at the year end is £1,449k (2024: £1,350k).

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Rendering of services
19,562,225
17,797,700
2025
2024
£
£
Turnover analysed by geographical market
UK
18,926,510
17,289,449
Rest of Europe
635,715
508,251
19,562,225
17,797,700
BUSINESS DATA PARTNERS HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
3
Turnover and other revenue
(Continued)
- 21 -
2025
2024
£
£
Other revenue
Interest income
243,563
308,150
4
Operating profit
2025
2024
£
£
Operating profit for the year is stated after charging/(crediting):
Exchange losses/(gains)
10,367
(8,986)
Depreciation of owned tangible fixed assets
34,327
38,190
Operating lease charges
296,989
255,704
5
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
5,000
5,000
Audit of the financial statements of the company's subsidiaries
13,050
12,000
18,050
17,000
For other services
Taxation compliance services
3,275
2,880
6
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2025
2024
2025
2024
Number
Number
Number
Number
Consultants
163
167
-
-
Administration
15
15
-
-
Directors
1
1
-
-
Total
179
183
0
0
BUSINESS DATA PARTNERS HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
6
Employees
(Continued)
- 22 -

Their aggregate remuneration comprised:

Group
Company
2025
2024
2025
2024
£
£
£
£
Wages and salaries
13,004,367
12,415,115
-
0
-
0
Social security costs
1,679,964
1,423,179
-
-
Pension costs
1,417,479
1,267,199
-
0
-
0
16,101,810
15,105,493
-
0
-
0
7
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
237,419
232,644
Company pension contributions to defined contribution schemes
39,880
59,880
277,299
292,524
Remuneration disclosed above includes the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
237,419
232,644
Company pension contributions to defined contribution schemes
39,880
59,880

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 1 (2024: 1).

The other directors are remunerated by other group entities for their services to this company. This remuneration is not separately identifiable nor recharged.

8
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest receivable from group companies
243,563
308,150
9
Interest payable and similar expenses
2025
2024
£
£
Interest on bank overdrafts and loans
1,668
14,466
BUSINESS DATA PARTNERS HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 23 -
10
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
466,187
358,786
Adjustments in respect of prior periods
(144,948)
-
0
Total current tax
321,239
358,786
Deferred tax
Origination and reversal of timing differences
(154,613)
(151,797)
Adjustment in respect of prior periods
133,663
-
0
Total deferred tax
(20,950)
(151,797)
Total tax charge
300,289
206,989

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
1,220,451
738,113
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
305,113
184,528
Tax effect of expenses that are not deductible in determining taxable profit
6,461
7,873
Change in unrecognised deferred tax assets
-
0
(176,763)
Adjustments in respect of prior years
(144,948)
191,351
Deferred tax adjustments in respect of prior years
133,663
-
0
Taxation charge
300,289
206,989
BUSINESS DATA PARTNERS HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 24 -
11
Intangible fixed assets
Group
Goodwill
£
Cost
At 1 January 2025 and 31 December 2025
536,896
Amortisation and impairment
At 1 January 2025 and 31 December 2025
536,896
Carrying amount
At 31 December 2025
-
0
At 31 December 2024
-
0
The company had no intangible fixed assets at 31 December 2025 or 31 December 2024.
12
Tangible fixed assets
Group
Computers
£
Cost
At 1 January 2025
177,871
Additions
50,159
At 31 December 2025
228,030
Depreciation and impairment
At 1 January 2025
126,295
Depreciation charged in the year
34,327
At 31 December 2025
160,622
Carrying amount
At 31 December 2025
67,408
At 31 December 2024
51,576
The company had no tangible fixed assets at 31 December 2025 or 31 December 2024.
BUSINESS DATA PARTNERS HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 25 -
13
Fixed asset investments
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Investments in subsidiaries
14
-
0
-
0
1,005,135
1,005,135
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 January 2025 and 31 December 2025
1,005,135
Carrying amount
At 31 December 2025
1,005,135
At 31 December 2024
1,005,135
14
Subsidiaries

Details of the company's subsidiaries at 31 December 2025 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Business Data Partners Limited
Fieldfisher Riverbank House, 2 Swan Lane, London, EC4R 3TT
Ordinary
100.00
15
Debtors
Group
Company
2025
2024
2025
2024
Amounts falling due within one year:
£
£
£
£
Trade debtors
1,032,589
1,103,695
-
0
-
0
Amounts owed by group undertakings
6,179,854
6,636,412
-
0
-
0
Other debtors
28,407
38,927
-
0
-
0
Prepayments and accrued income
1,275,581
1,049,471
-
0
-
0
8,516,431
8,828,505
-
-
Deferred tax asset (note 18)
345,612
324,662
-
0
-
0
8,862,043
9,153,167
-
-
BUSINESS DATA PARTNERS HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 26 -
16
Creditors: amounts falling due within one year
Group
Company
2025
2024
2025
2024
£
£
£
£
Trade creditors
28,300
26,482
-
0
-
0
Amounts owed to group undertakings
1,003,178
1,194,439
49,068
43,953
Corporation tax payable
286,348
194,110
-
0
-
0
Other taxation and social security
1,143,488
921,065
-
0
-
0
Other creditors
2,649
440
-
0
-
0
Accruals and deferred income
1,318,091
1,496,893
11,975
13,674
3,782,054
3,833,429
61,043
57,627
17
Creditors: amounts falling due after more than one year
Group
Company
2025
2024
2025
2024
£
£
£
£
Accruals and deferred income
613,671
576,571
-
0
-
0
18
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Assets
Assets
2025
2024
Group
£
£
Accelerated capital allowances
(16,852)
(12,894)
Short term timing differences- trading
362,464
337,556
345,612
324,662
The company has no deferred tax assets or liabilities.
Group
Company
2025
2025
Movements in the year:
£
£
Asset at 1 January 2025
(324,662)
-
Credit to profit or loss
(20,950)
-
Asset at 31 December 2025
(345,612)
-
BUSINESS DATA PARTNERS HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 27 -
19
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
1,417,479
1,267,199

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

20
Share capital
Group and company
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of 1p each
94,920
94,920
949
949
21
Reserves

Share capital

This represents the nominal value of the shares that have been issued.

Share premium

This reserve includes the premium on issue of equity shares, net of issue costs.

Capital redemption reserve

This reserve contains the nominal value of own shares that have been acquired by the company and cancelled.

Profit and loss account

This reserve represents cumulative profits or losses, net of dividends paid and other adjustments.

22
Operating lease commitments
Lessee

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Group
Company
2025
2024
2025
2024
£
£
£
£
Within one year
306,800
232,798
-
-
Between two and five years
276,560
178,864
-
-
583,360
411,662
-
-
BUSINESS DATA PARTNERS HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 28 -
23
Controlling party

The company's immediate parent is Talan SAS, incorporated in France.

The ultimate parent is Talan Holding, incorporated in France.

The most senior parent entity producing publicly available financial statements is Talan Holding. These financial statements are available upon request from PO Box 75016, 19-21, Rue Dumont D'Urville, Paris, France.

Until May 2026 Talan Holdings was owned by 5 seperate non-UK companies as follows:

Company name | Shareholding percentage
HTC Holding | 22.76%
Carthage Holdings B.V | 44.49%
New playfield 1 | 31.55%
New playfield 2 | 0.44%
FCPE | 0.76%

And from May 2026 Talan Holdings was owned by 6 seperate non-UK companies as follows:

Company name | Shareholding percentage
Carthage Holdings B.V | 56.79%
HTC Holding | 14.66%
FCPE Talan | 0.54%
New playfield 1 | 27.65%
New playfield 2 | 0.29%
Auto- Detention | 0.07%

24
Cash generated from/(absorbed by) group operations
2025
2024
£
£
Profit after taxation
920,162
531,124
Adjustments for:
Taxation charged
300,289
206,989
Finance costs
1,668
14,466
Investment income
(243,563)
(308,150)
Depreciation and impairment of tangible fixed assets
34,327
38,190
Movements in working capital:
Decrease/(increase) in debtors
312,074
(678,344)
Decrease in creditors
(106,513)
(205,397)
Cash generated from/(absorbed by) operations
1,218,444
(401,122)
BUSINESS DATA PARTNERS HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 29 -
25
Analysis of changes in net funds - group
1 January 2025
Cash flows
31 December 2025
£
£
£
Cash at bank and in hand
2,085,869
1,181,179
3,267,048
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