The directors present the strategic report for the year ended 31 March 2026.
At the group, we’ve created a whole new approach to growth marketing. One that helps businesses large and small redefine their potential. Whether growing sales, profits, sentiment, awareness or market share, we blend commerciality, innovation and leading tech. This lets us pinpoint success and respond to change.
We’re here to help the bold, innovative and curious look past the norm. Because true improvement is about so much more than metrics. It’s about understanding people. Having commercial empathy and seeking out better forms of growth.
We unlock better value for our clients in all kinds of ways. From better returns to innovation and problem solving, progressive thinking is at the heart of our media and creative services. Because things don’t improve without bold new approaches. And businesses can’t grow sustainably without new and better ideas.
In business, not all growth is equal, or even good. By asking the right questions, we help clients experience the right kind of exponential growth that supports their vision. From scaling new products, to improving your business model and building more customer engagement, we go way beyond media buying, planning or metrics.
We act as guides and challengers, unlocking hidden value and growth potential. Then planning, testing and tracking every relevant data point. Whatever the market, sector or media, we bring commercial empathy to every partnership, planning your growth against your industry. All so you can make better growth choices suited to your strategy. Our technology lets us see deeper and act faster. Our human insight gives data real value. And our personal approach means we live and breathe your business. This unique combination lets us deliver unparalleled thinking that creates growth in ways no one else sees or expects and enables us to support our clients in achieving sustainable market success.
This is what it means to redefine your potential.
The group operates across offices in the UK, US and Asia and during the year the group continued to see growth across its strategic objectives and continued to solve evolving client challenges with the development and launch of new products in its technology and performance creative divisions.
Furthermore, the group deepened its expertise and proprietary tools in the property sector, launching new products for existing clients and also winning multiple contracts with new clients. Additionally, the group continued to diversify its client base through its specialist Health and E-Commerce teams, onboarding 24 new clients in the year.
Our strategy to combine commerciality, innovation and technology to deliver exceptional returns, not just metrics, for clients, saw the group collect a number of awards:
UK Paid Media Awards Winner – Campaign of the year winner (WOLF)
BIMA 100 Winner – Young Talent (under 30), Emma King
BIMA 100 Winner – AI & Tech Pioneers, Tom Carter
BIMA 100 Winner – CEO & Leaders > 5m, Chris Jones
CMA's Best Application of Marketing Technology Finalist: Ignition
Prolific North Tech Awards Finalists: Tech Innovation of the Year (Ignition)
Prolific North Marketing Awards Finalists: Best Large Budget Campaign - Avant (with Holdens)
UK eCom Awards Finalist: Seasonal Campaign of the Year (WOLF)
UK eCom Awards Finalist: Best PPC Campaign (AJ Products)
PMI Awards Finalist: Agency of the Year
PMI Awards Finalist: Clinical Trial Recruitment and Retention
First Time Buyer Awards Finalist: Best Use of Digital Innovation
Looking ahead, the group will invest in its partnerships with new and established platforms to bring new and exciting opportunities to clients. The group will also continue to deliver on its AI roadmap and ESG programmes including its ambition to achieve BCorp status in the near future.
The group places significant value in our people, and continues to invest in initiatives that support employee development, well-being flexibility and social and environmental sustainability across the organisation.
Our continued investment in the group’s award-winning Space Academy training and development programme provides all staff with online bespoke learning pathways;
Our flexible working policy continues to give staff greater flexibility and control of their work/life balance;
As a Living Wage Employer, we are committed to ensuring that our staff and the staff of any suppliers we work with are paid commensurately with the relevant living wage; and
Recognising the importance of minimising our impact on the environment and in keeping with our ambition to become BCorp certified.
The group regularly reviews business risk and aims to mitigate these risks wherever possible through its internal systems and controls and, where appropriate, targeted staff training. The directors consider the group’s main commercial and financial risks to be:
Economic uncertainty
The macroeconomic climate remains challenging, with sustained price inflation, continued labour market pressures and interest rates above target continuing to create headwinds within the UK economy. The group has assessed the risks and the potential impact on the business as a result of these economic factors, and measures have been taken to mitigate such risks and their impact as far as possible. These include continued focus on sector diversification, reviews of commercial terms with existing clients to improve certainty around income streams, and ongoing prioritisation of internal talent development to improve staff retention and reduce costs. The group remains profitable since the year end and has sufficient cash resources for the foreseeable future. As a result, the directors believe that they have the ability to respond effectively to continued uncertainty and that the group will be able to continue to meet its liabilities as they fall due for a period of at least twelve months from the date of the approval of these financial statements.
In common with all businesses, the performance of the group will be influenced by the general economic environment. We closely monitor leading market indicators particularly for sectors that our major clients and suppliers operate within. In addition, we work closely with all our clients and suppliers to ensure that we remain informed of how their businesses are performing and the key challenges that they face. The group reforecasts, at a minimum, on a quarterly basis and closely monitors its cash flow. It has historically and will continue to act promptly and decisively to address its business operations and cost base as and when trading or cash flow circumstances dictate.
Client retention
As a growth marketing agency, we enable our clients to secure optimal value from every part of the customer experience and their marketing investment. We form long-term partnerships through business empathy and commercial alignment, working across fully managed, hybrid or in-house models to deliver best-in-class expertise across media, technology and performance creative, driving market-beating long-term growth outcomes. We deliver this proactive approach every day, regularly monitoring and responding to our clients' needs and their pre-agreed KPls.
Credit and cash flow risk
The group, in common with all other businesses, is potentially exposed to the risk of non-recovery of its debts. This risk is mitigated by credit checking and having credit limits in place for all customers. In addition, the group operates a robust credit control regime and wherever possible, credit insures its clients.
Trade creditors' liquidity risk is managed by ensuring sufficient funds are available to meet debts as they fall due. The group has a £6.5 million receivables finance facility in place with Barclays Bank PLC that provides appropriate working capital to meet the group’s day to day business needs. The group’s long-term business forecasts support the view that the group will have adequate resources to meet its debts as they fall due for the foreseeable future and for at least twelve months from the date of signing of these financial statements.
Exchange rate fluctuations
A significant part of the group’s activity is UK based but for its material overseas trade it mitigates exchange rate risk to a greater extent by ensuring that its overseas customers settle, and their related suppliers are paid, via the group’s US Dollar and Euro bank accounts wherever possible.
The key performance indicators monitored by the directors are those that best demonstrate the financial performance and strength of the group. Specifically, we look at year on year trends in the profit and loss account, in turnover and gross profit margin and on the balance sheet, the level of net current assets and cash balances to monitor the financial health and liquidity of the group.
The group delivered turnover in the year of £78,346,238 (five months 2025: £44,188,600), gross profit of £10,039,782 (five months 2025: £5,403,531), and a gross margin of 12.8% (2025: 12.2%). This improvement was primarily driven by the continued successful delivery of our strategic plan with existing clients, new business and the diversification of the group’s client base.
During the year the group implemented an efficiency programme focused on reducing overhead costs where appropriate. This initiative, along with the absence of any transaction related expenditure in the year compared to the prior period, delivered administration expenses before other operating income and exceptional items of £8,955,517 (five months 2025: £4,605,135). After taking account of other operating income of £509,743 (five months 2025 £nil) and goodwill amortisation of £1,230,475 (five months 2025: 615,238) the group delivered operating profit of £294,991 (five months 2025: £183,158). Net of Interest payable and similar expenses of £722,312 (five months 2025: £404,178) the loss before tax was £404,523 (five months 2025: £239,746).
A tax credit was reported for the year of £621,326 (five months tax charge 2025: (£385,240)). The key driver for this tax credit was prior and current year loss relief in respect of a share scheme tax deduction under part 12 CTA 2009. This loss relief arose as a result of Datawrkz’s acquisition of a 68.75% stake in the group on the 29 October 2024.
Cash at bank and in hand was up year on year at £1,845,847 (2025: £1,754,466) and whilst the group’s net current liabilities at the 31 March 2026 increased to £6,607,029 (2025: £6,495,064), encouragingly its net liabilities had reduced to £2,692,357 (2025: £2,909,070) by the year-end.
The directors have been encouraged by the operational trading, financial strength and cash generation of the group in the period following the year end and whilst the economic climate remains challenging, there are reasonable grounds to expect the financial strength of the business to continue to improve for the rest of the next financial year.
The Board’s long-term growth strategy is focused on building deeper strategic and commercial alignment with client’s own business objectives, supporting long-term value creation and stronger partnerships. The group aims to remain a highly relevant growth partner by aligning its capabilities with the full customer journey and developing proprietary products that enhance clients’ growth prospects. Together, these initiatives provide the platform for continued success and position the group well to deliver a strong performance in the financial year ahead.
The Board recognises the importance of the group’s wider stakeholders when performing their duties under Section 172(1) of the Companies Act and their duties to act in the way they consider, in good faith, would be most likely to promote the success of the group for the benefit of its members as a whole and in doing so have regard (amongst other matters) to:
The likely consequences of any decisions in the long term.
The interests of the group’s employees.
The need to foster the group’s business relationships with suppliers, customers and others.
The impact of the group’s operations on the community and environment.
The desirability of the group maintaining a reputation for high standards of business conduct.
The need to act fairly between members of the group.
The Board considers that all their decisions are taken with the long-term in mind, understanding that these decisions need to regard the interests of the group’s employees, its relationships with suppliers, customers, the communities and the environment in which it operates.
As a Board we fulfil our duties as follows:
Group repositioning
The group’s divisional operating model is now embedded within our operational and reporting processes, strengthening our strategic position for the years ahead. Additionally, we aim to continue to develop our market reach in a number of industry verticals outside of the residential development sector, to support the ongoing diversification of our client portfolio. However, diversification will not come at the expense of our core property capability; we remain committed to maintaining and enhancing the specialist knowledge, experience and reputation that have established us as a trusted leader in the property sector.
Employees, Community and Environment
The group acknowledges that the dedication, talent and expertise of its employees are central to its continued success. Alongside this, we remain committed to a range of initiatives that reinforce our culture, values and wider responsibilities. Further details are provided in the ‘Culture’ section on page 2 of these financial statements.
Clients & suppliers
The group recognises the vital contribution that its clients and suppliers make to the success of the business. Maintaining strong, collaborative and sustainable relationships with these stakeholders remains a core focus. Further details of our approach to client retention and managing economic uncertainty are provided in the ‘Client Retention’ and ‘Economic Uncertainty’ sections on page 2 of these financial statements.
On behalf of the board
The directors present their annual report and financial statements for the year ended 31 March 2026.
The results for the year are set out on page 14.
No ordinary dividends were paid. The directors do not recommend payment of a further dividend.
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Looking ahead, the group is focused on delivering sustainable growth through further market diversification and expansion. New markets will continue to play an important role in our strategy, whether through the development of new client relationships, the acquisition of complementary businesses or the expansion of our activities internationally. While pursuing these opportunities, we will continue to invest in high–quality talent, strengthen our leadership and operational capabilities, and develop innovative products and services that enhance our market relevance and competitive advantage. Together, these factors provide the platform for continued success and position the group well to deliver a strong performance in the financial year ahead.
The auditor, Moore Kingston Smith LLP, is deemed to be reappointed under section 487(2) of the Companies Act 2006.
The figures reported for the prior financial period were from the date of acquisition by Datawrkz of Space & Time group on 29 October 2024 to the 31 March 2025. The 2025 comparative figures in these accounts have therefore been grossed up to present them on a 12-month comparable basis to those being presented for the financial Year ended 31 March 2026 but these comparatives do not represent actual measured emissions or consumption in this annualised financial year.
The prior financial period ending 31 March 2025 included several exceptional emissions events associated with Datawrkz’s investment in Space & Time, primarily additional business travel and hotel stays. As a result, part of the year-on-year reduction in emissions reflects a return to more typical operating levels following these one-off activities. However, the business also achieved reductions that are expected to be sustained over the longer term. These included the downsizing of office space in Reigate and London, improved verification of electricity supply arrangements across the office portfolio, which confirmed that all offices other than London are supplied by 100% renewable electricity tariffs, and increased use of virtual meetings in place of in-person meetings when servicing client accounts.
We have followed the 2019 HM Government Environmental Reporting Guidelines. We have also used the GHG Reporting Protocol – Corporate Standard and have used the 2025 UK Government’s Conversion Factors for Company Reporting.
Scope 3 emissions include estimates for employee commuting and homeworking. These were calculated using data obtained from a staff survey conducted between July and August 2026, with responses from 49 employees (c43%) extrapolated on a proportional basis across the wider workforce.
A material improvement in the FY26 emissions methodology relates to the estimation of homeworking emissions. Previous calculations were based on assumptions published in the 2020 EcoAct Homeworking Emissions Whitepaper, which relied on research undertaken in 2012 and assumed a workstation configuration that included a dedicated desktop printer. As this does not reflect the organisation's typical homeworking arrangements, the FY26 calculation has been updated using more recent research published by TechCarbonStandard.org, which better reflects the energy consumption of modern computing equipment. This is considered to provide a more representative estimate of homeworking emissions.
Electricity consumption is based on directly metered values for the Bournemouth, Manchester and Edinburgh offices. Consumption for the London office is estimated on a per-desk basis using average monthly usage data provided by the operator of the shared workspace. Consumption for the Reigate office is estimated using a kWh per square foot methodology that reflects changes in occupied floor space throughout the reporting period. Market-based reporting has been applied to purchased electricity emissions. Accordingly, electricity consumption from all locations is included within the disclosure, while associated emissions are reported only for the London office, as all other locations are supplied under verified renewable electricity tariffs.
As financial year 2025 covered a 5-month reporting period, whereas financial year 2026 covers a full financial year, year-on-year comparisons are presented using both the actual financial year 25 reported figures and financial year 2025 annualised to a 12-month equivalent. The annualised figures are provided solely to aid comparability and do not represent actual measured emissions or consumption for financial year 2025.
The chosen intensity measurement ratio is total gross emissions in metric tonnes CO2e per £m revenue, giving the business a scalable understanding of its performance on this core metric as its growth plans are realised over the coming years.
During the reporting period, the group implemented a number of measures designed to reduce energy consumption and greenhouse gas emissions. Office footprints were reduced in both London and Reigate, decreasing the amount of occupied workspace and the associated energy required for heating, cooling and lighting. The business also continued to support lower-carbon travel choices through its Cycle to Work scheme, with three new loans issued during the year.
Employee engagement remained a key component of the organisation's carbon reduction strategy. A more extensive programme of sustainability communications and engagement activities was delivered during the year, aimed at improving awareness of environmental impacts and encouraging employees to adopt lower-carbon behaviours both in the workplace and when working remotely. Initiatives included a company-wide step-count competition designed to promote active travel and reduce reliance on short vehicle journeys.
The organisation also strengthened the integration of environmental considerations into its client service model. Greater emphasis was placed on communications-first methods of collaboration, with virtual meetings and remote engagement encouraged where appropriate as an alternative to travel-dependent interactions. This approach supports the delivery of client services while reducing emissions associated with business travel.
United Kingdom company law requires the directors to prepare financial statements for each financial year. Under that law, the directors have elected to prepare the group and parent company 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 parent 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;
state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and parent 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 parent company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and parent 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 parent company, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
We have audited the financial statements of Datawrkz UK Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2026 which comprise the Group Statement of Comprehensive Income, the Group Balance Sheet, the Company Balance Sheet, 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).
Basis for 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
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
The information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
The strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
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. 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.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the company’s internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.
Conclude on the appropriateness of the directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group's or the parent company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the group or the parent company to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Explanation as to what extent 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, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities,
including fraud is detailed below.
The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company.
Our approach was as follows:
We obtained an understanding of the legal and regulatory requirements applicable to the company and considered that the most significant are the Companies Act 2006, UK financial reporting standards as issued by the Financial Reporting Council, and UK taxation legislation.
We obtained an understanding of how the company complies with these requirements by discussions with management and those charged with governance.
We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance.
We inquired of management and those charged with governance as to any known instances of noncompliance or suspected non-compliance with laws and regulations.
Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required.
There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
Use of our report
This report is made solely to the parent 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 parent 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 parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
The profit and loss account has been prepared on the basis that all operations are continuing operations.
As permitted by section 408 of the Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £56,847 (2025 - £57,748 loss).
Datawrkz UK Ltd (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Suite 8, Venator House, St. Stephens Road, Bournemouth, Dorset, England, BH2 6LA.
The group consists of Datawrkz UK Ltd and all of its subsidiaries.
The financial statements are presented for the year to 31 March 2026. The comparative period was for a period from incorporation on 28 June 2024 to 31 March 2025 so the comparatives are not entirely comparable.
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 amounts 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 consolidated group financial statements consist of the financial statements of the parent company Datawrkz UK Ltd together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.
All financial statements are made up to 31 March 2026. 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 group.
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.
At the time of approving the financial statements, the directors have considered the fact that the group generated positive EBITDA in the period ended 31 March 2026 of £1,584,718 (2025: £833,331) and has continued to generate positive EBITDA throughout the period since its financial period end.
In line with industry standard, the business holds media accruals for 6 years after the date of sale. These accruals are reviewed periodically and adjusted where necessary. This enables the business to operate with net current liabilities. Additionally, the group has a £6.5m finance facility in place with Barclays Bank PLC that provides appropriate working capital to meet the group’s day to day business needs.
Furthermore, the group’s long-term business forecasts show that the group will be EBITDA positive and cash generating in future years and support the view that the group will have adequate resources to continue its operations and to meet its liabilities as they fall due for a period of at least twelve months from the date of approval of the financial statements. The key assumption underpinning the long-term forecasts is that the financial performance in the key business unit, Space & Time Media, follows current trends. As a result, the directors believe it appropriate for the financial statements to be prepared on a going concern basis.
Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.
When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.
Media revenue is recognised when charges are made to clients, principally when advertisements appear in the media. Fees are recognised over the period of relevant assignments or agreements.
When the outcome of the transaction can be estimated reliably, turnover from advertising space and management of media work is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to when services are rendered. Where the outcome cannot be measured reliably, turnover is recognised to the extent of expenses recognised that are recoverable.
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 profit and loss account.
Equity investments 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.
In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities 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.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Investments in associates are initially recognised at the transaction price (including transaction costs) and are subsequently adjusted to reflect the group’s share of the profit or loss, other comprehensive income and equity of the associate using the equity method. Any difference between the cost of acquisition and the share of the fair value of the net identifiable assets of the associate on acquisition is recognised as goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.
Losses in excess of the carrying amount of an investment in an associate are recorded as a provision only when the company has incurred legal or constructive obligations or has made payments on behalf of the associate.
In the company financial statements, investments in associates are accounted for at cost less impairment.
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.
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 balance sheet 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, 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 method 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.
Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.
Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the debt instrument to the net carrying amount on initial recognition.
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.
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.
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.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
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.
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.
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.
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.
The 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 net profit as reported in the profit and loss account 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 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 costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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 leased asset are consumed.
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
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.
The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
In the normal course of business, the group makes an estimate of the amount and volume of media costs associated with each sale when the sale is ordered as well as any related rebates under the matching principle. These costs and rebates are reviewed periodically and adjusted where necessary.
The annual amortisation charge for intangible assets is sensitive to changes in the estimated lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. Goodwill impairment reviews are also performed annually. These reviews require an estimation of the value in use of the cash generating units to which goodwill has been allocated. The value in use calculation requires the entity to estimate the future cash flows expected to arise for the cash generating unit and a suitable discount rate to calculate present value. See note 12 for the carrying amount of the intangible assets and 1.6 for the useful economic lives for each class of asset.
The directors have completed a review of the trade debtor balances to determine balances which are unlikely to be received and a provision has been accounted for where necessary.
The investments held by the company are reviewed annually for impairment. If there is an indication of impairment, management will impair the asset to its recoverable amount.
The directors have considered the carrying value of intercompany debtors at the reporting date. In establishing an appropriate provision, they have considered the on-going trading and net asset position of the respective companies as well as the nature of intercompany transactions, the ability of the group to vary these to ensure full recovery and the profitability of the group as a whole.
The average monthly number of persons (including directors) employed by the group and company during the year was:
Their aggregate remuneration comprised:
The actual (credit)/charge for the year can be reconciled to the expected credit for the year based on the profit or loss and the standard rate of tax as follows:
Details of the company's subsidiaries at 31 March 2026 are as follows:
Registered office addresses (all UK unless otherwise indicated):
1 Suite 8, Venator House, St. Stephens Road, Bournemouth, Dorset, England, BH2 6LA
Details of associates at 31 March 2026 are as follows:
Registered office addresses (all UK unless otherwise indicated):
1 Suite 8, Venator House, St. Stephens Road, Bournemouth, Dorset, England, BH2 6LA
The group's bank holds a fixed and floating charge over all assets of the group in respect of an invoice discounting facility provided to the group.
Other loans relates to loan note B, held by the subsidiary Space & Time Group, which is unsecured.
Loan note B with a carrying value of £7,668,704 was issued on 2 July 2018. The terms of the loan note are as described below. As at the year end, fair value was £3,579,759 (2025: £3,788,209).
A tranche of the loan note is due for repayment on 29 October each year, with the final tranche due for repayment on 29 October 2030. The tranches are not equal. The loan note accrues interest of a floating 1.75% over the Bank of England base rate. From 29 October 2028, the interest rate will be a floating 3.5% over the Bank of England base rate.
Loans from group undertakings relate to a loan from a group entity, which is accruing interest at 8.5% per annum, and is repayable in full on 20 October 2029.
Loans from related parties relate to loans from a group entity. These loans are accruing interest at a floating interest rate of 3.5% above the Bank of England base rate.
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.
At year end, the amounts outstanding in respect of pension contributions payable is £47,762 (2025: £37,342).
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:
No guarantees have been given or received.
As permitted by FRS 102 Section 33 "related party disclosures", the financial statements do not disclose transactions with the immediate parent company and wholly owned fellow subsidiaries on the basis that group financial statements are prepared.
During the year, the group had sales of £Nil (2025: £Nil) and purchases of £614,910 (2025: £339,569) with EG Media Limited, a company of which Space & Time Media Limited own 45% of the share capital. As at 31 March 2026, the group owed a net amount of £256,507 (2025: £219,035) to EG Media Limited. During the year, EG Media Limited declared dividends to the company totalling £9,465 (2025: £Nil).
At the year end, the group was owed £12,595 (2025: £12,595) by Smarter Media Group Holdings Limited, an entity with common directors.
During the year, the group made sales of £18,442 (2025: £Nil) and purchases of £Nil (2025: £42,033) with Datawrkz Business Solutions Private Limited, its ultimate parent company.
During the year, the group made sales of £323,040 (2025: £Nil) and purchases of £199,315 (2025: £Nil) with Mediawrkz Inc., a related party within the wider group of Datawrkz Business Solutions Private Limited. At the year end, the group owed £17,000 (2025: £Nil) to Mediawrkz Inc.
During the year, the group drew down a further £100,000 (2025: £1,159,097) from Mediawrkz Inc. During the year, interest of £111,544 (2025: £Nil) was accrued on the loans. As at 31 March 2026, a balance of £1,370,611 (2025: £1,159,097) was outstanding, of which £307,511 (2025: £100,000) is held within creditors due within one year.
At year end, the group was owed £20,000 (2025: £5,000) by individuals who are directors and indirect shareholders of the company.