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Registered number: 07389833









THE INFORMATION LAB LIMITED









ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

 
THE INFORMATION LAB LIMITED
 
 
COMPANY INFORMATION


Directors
T Brown 
L Stansil 




Registered number
07389833



Registered office
25 Watling Street

London

EC4M 9BR




Independent auditors
Ecovis Wingrave Yeats LLP
Chartered Accountants & Statutory Auditor

3rd Floor, Waverley House

7-12 Noel Street

London

W1F 8GQ





 
THE INFORMATION LAB LIMITED
 

CONTENTS



Page
Strategic Report
1 - 5
Directors' Report
6 - 7
Independent Auditors' Report
8 - 11
Statement of Comprehensive Income
12
Balance Sheet
13
Statement of Changes in Equity
14
Notes to the Financial Statements
15 - 30


 
THE INFORMATION LAB LIMITED
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2026

Introduction
 
The directors present their strategic report on the Company for the financial year ended 31 March 2026.

Business review
 
The principal objective of The Information Lab Limited is to help organisations unlock the value of their data through the design, development and implementation of modern data  solutions. Our expertise spans data engineering, analytics and AI, enabling clients to build robust data foundations, transform complex information into actionable insights, and deploy intelligent applications that improve business performance. These capabilities are delivered through a combination of specialist consulting services, technology partnerships and our established training programmes. 
The Company's longstanding partnerships with leading analytics technology providers, including Snowflake, dbt, Salesforce, and Alteryx, continue to represent an important part of our commercial activities. Licence reselling has remained resilient, supported by existing customers expanding their use of these platforms and new organisations investing in data-driven capabilities. These relationships also provide opportunities to deliver complementary consulting services, integrating analytics technologies into clients' wider data architectures and supporting the development of more sophisticated data and AI solutions. 
The consulting business has returned to growth, supported by the continued development of our technical capabilities and the increasing demand for sophisticated data solutions. Our consultants work across the data lifecycle, from engineering and integrating data from multiple sources through to the development of analytics applications and AI-enabled solutions. Significant new and extended engagements across telecommunications, financial services and manufacturing demonstrate the breadth of our expertise and our ability to  deliver complex, business-critical projects for major organisations. 

Plans for future development

The Company's strategic priorities are centred on expanding its role as a trusted partner in the design and delivery of modern data solutions. We aim to deepen our relationships with existing clients and develop new strategic partnerships with organisations seeking to modernise their data infrastructure, improve the accessibility and reliability of their information, and deploy advanced analytics and AI capabilities. Our consulting expertise enables us to support clients throughout this journey, from establishing the underlying data architecture to delivering applications that generate measurable business value. 
Within our consulting operations, we continue to develop specialist capabilities in data engineering and artificial intelligence, reflecting the growing importance of these technologies to our clients. Particular areas of focus include the development of trusted data architectures and semantic layers, the integration of AI into business processes, and the creation of intelligent applications, including conversational analytics interfaces and AI agents. These solutions combine our established expertise in data management and analytics with emerging technologies, enabling organisations to interact with and derive value from their data in increasingly sophisticated ways. 
In the licence reselling segment, we remain focused on driving value for our customers by promoting and supporting the latest product innovations, including new add-on offerings from our vendor partners. This approach not only reinforces our role as experts in the analytics ecosystem but also supports sustained growth in licence revenues. 
The Company expects to keep its consultant headcount broadly steady in the UK while continuing to invest in the skills and capabilities required to support these growth objectives and to deliver exceptional outcomes for our clients. 

Page 1

 
THE INFORMATION LAB LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026

Principal risks and uncertainties
 
The principal risks facing the Company arise from the broader economic environment and the pace of technological change within the data analytics sector. While economic volatility, inflationary pressures, and shifting customer priorities continue to influence business conditions, these factors are now a familiar feature of the operating landscape. The Company’s well-diversified client base, long-term customer relationships, and flexible delivery model help to mitigate exposure to any single market or sector. In addition, the continued investment in staff development ensures that we retain the expertise required to respond effectively to changing client needs.
The rapid evolution of data technologies, particularly developments in artificial intelligence, presents both opportunities and risks for the Company. Changes in customer requirements, technology architectures and competitive dynamics require continued investment in technical expertise and the development of new capabilities. The Company mitigates these risks through ongoing employee training, close engagement with technology partners and a flexible approach to solution delivery. Within the licence reselling business, changes to vendor pricing, product portfolios and commercial arrangements remain additional considerations.

Section 172 statement

The directors of The Information Lab Limited remain committed to promoting the long-term success of the Company for the benefit of its shareholders, employees, customers, suppliers, and other stakeholders. Strategic decisions are taken with careful consideration of their potential impact on these groups and on the wider community in which the Company operates.
In fulfilling their duties under Section 172 of the Companies Act 2006, the directors place particular emphasis on sustainable growth, responsible business practices, and maintaining the Company’s strong reputation for integrity and professionalism. Regular engagement with employees and customers provides valuable insight into the opportunities and challenges facing the business, helping to shape priorities and investment decisions. The directors also seek to ensure that supplier relationships are fair, transparent, and aligned with the Company’s standards of quality and service.
Through this approach, the Board continues to balance short-term performance with long-term value creation, ensuring that the Company remains well positioned to deliver positive outcomes for all stakeholders.

Page 2

 
THE INFORMATION LAB LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026

CO2 emissions summary

The Information Lab Limited summarises its greenhouse gas (GHG) reporting as follows:

Scope
Scope description
Emissions (CO2)
1
Direct emissions from owned or controlled sources

0.0 tonnes (2025 - 0.0)
2
Indirect emissions from the generation of purchased energy

11.7 tonnes (2025 - 13.8)
3
Other indirect emissions
95.4 tonnes (2025 - 38.7)

Total energy consumption for the year was 56,460 kWh (2025: 66,644 kWh).
Emissions in scope 2 are calculated based on the electricity use in our London-based office. Consumption in kWh is converted to kilograms of CO2 using the latest published conversion factors.

Emissions in scope 3 relate to recorded business air travel during the financial year. These emissions are calculated based on passenger miles and class of travel, using published conversion factors that exclude the indirect effects of non-CO2 emissions.
Emissions intensity ratio (tCO2e per £m turnover): 2.73 
(2025: 1.33).
 
At present, The Information Lab does not record or report CO2 emissions arising from employee commuting, hotel stays, or homeworking as part of its environmental impact assessment.
 
The Company continues to monitor its carbon footprint on an annual basis and is reviewing opportunities to refine its data collection processes and reduce emissions where practicable. This report represents the third year of formal CO2 measurement, providing a foundation for future year-on-year comparisons.

Disabled persons statement

The Information Lab Limited is committed to promoting diversity and inclusion across its workforce. The Company ensures that disabled persons are given fair consideration in all aspects of employment, from recruitment through to training, development, and career progression.
Where employees become disabled during their employment, the Company remains committed to making reasonable and appropriate adjustments to their roles or working environment to support their continued contribution. The Company also takes proactive steps to provide suitable tools, technology, and training where these can assist employees in performing their duties effectively.
Through this approach, The Information Lab aims to create an inclusive and supportive workplace in which all employees are able to achieve their full potential.

Employee information statement

The Information Lab Limited values the engagement and contribution of its employees and recognises that effective communication is essential to the success of the business. The Company is committed to providing regular updates on matters of importance to staff, including business performance, strategic priorities, and developments within the wider industry.
Communication is maintained through a variety of channels, including regular team meetings, Company-wide “townhall” sessions, internal newsletters, and announcements. These mechanisms ensure that employees remain well informed and have the opportunity to share feedback and ideas with management. The Company actively encourages open dialogue and consultation on matters affecting employees’ roles, working environment, and the future direction of the business.

Page 3

 
THE INFORMATION LAB LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026

Financial key performance indicators
 
The Company reports a revenue of £39.2M (2025 - £39.6M) (excluding the European licence sale recharging) which is flat against the prior year. The Company provides services across various sectors. The top 5 which primarily represents the revenue for FY26 are:
Telecoms & Media - 17%
Public Sector - 15%
Finance - 15%
Travel, Transport & Hospitality - 14%
Manufacturing - 7%
During FY26, we have worked with 347 customers 
(FY25 - 401) out of which 87% was repeat business.
The Company continues to maintain a strong financial position with healthy cash reserves and robust cash flow management. The US business, which had previously benefited from investment via the group holding Company, is now self-sustaining and requires minimal financial support from the UK.
While plans to repatriate funds to the UK are still a way off, the Company’s financial health remains strong, and its cash position is sufficient to meet all operational and strategic requirements. The directors continue to monitor cash flow, debtor recovery, and expenditure closely to ensure that the Company remains well positioned to support ongoing operations and future growth.

Other key performance indicators
 
Key performance indicators for the year reflect the Company’s continued focus on sustainable growth and operational excellence:
- Continued strength in Tableau and Alteryx licence reselling, supported by close vendor relationships and the Company’s expertise in promoting new product offerings and add-on solutions.
- Growth in consulting revenues, underpinned by large-scale projects with major clients across multiple industries and a strong pipeline of future work.
- Ongoing success of The Data School training programme, which continues to attract high-calibre candidates and supply skilled consultants to meet client demand across the UK and internationally.
- Targeted recruitment and workforce planning, ensuring that consultant headcount remains closely aligned with demand while maintaining flexibility in delivery capacity.
- Continued investment in employee retraining and upskilling, enabling the Company to remain at the forefront of developments in data engineering, analytics, and AI-related technologies.

Outlook

The company remains confident in its strategic direction and its ability to respond to the evolving needs of organisations seeking to realise greater value from their data. Our combination of expertise in data engineering, analytics and artificial intelligence, supported by established technology partnerships and a proven talent development model, provides a strong foundation for continued growth. As organisations increasingly seek to integrate trusted data with intelligent applications and automated decision-making, The Information Lab is well positioned to deliver the technical expertise and practical solutions required to support these ambitions.

Page 4

 
THE INFORMATION LAB LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026


This report was approved by the board on 26 October 2026 and signed on its behalf.



T Brown
Director

Page 5

 
THE INFORMATION LAB LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2026

The directors present their report and the financial statements for the year ended 31 March 2026.

Results and dividends

The profit for the year, after taxation, amounted to £2,084,533 (2025 - £1,630,096).

Dividends paid in the year were £1,310,000 (2025 - £3,680,000).

Principal activity

The Company's principal activities are the re-selling of software packages and support, as well as data consulting services.

Directors

The directors who served during the year were:

T Brown 
L Stansil 

Future developments

Our key plans for the remainder of 2026 and into 2027 are to maintain a broadly stable headcount in the UK while continuing to grow revenues through deeper relationships with existing customers and the development of new customer opportunities. We continue to focus on expanding the range of work we undertake for key customers, including introducing our services into new departments and offering flexible project arrangements that allow new customers to engage with us. We also continue to develop our businesses in the US and Germany, with a focus on sustainable growth, improving utilisation and ensuring that the cost base in each territory is appropriate for the level of demand.
In the licence reselling areas of the business, growth continues to be influenced by the performance and strategy of the software vendors themselves and the proportion of their business that is transacted through reseller channels. We continue to focus on providing additional value to customers through our technical expertise, consulting capabilities and ongoing relationships, demonstrating the benefits of purchasing and working with us rather than buying directly from vendors or through alternative resellers.
From a consulting and project delivery perspective, data engineering represents an increasingly important area of growth for the business. While analytics and visualisation remain significant parts of our existing business and areas in which we have considerable expertise, we are seeing strong and growing customer demand for services relating to the wider data platform, including data engineering, transformation and modern cloud data technologies. We expect this area to become an increasingly significant proportion of our consulting activities over the coming years and are continuing to invest in developing the skills and capabilities of our teams accordingly.
Our strategy is to build on our established position in analytics by extending our involvement further into the data lifecycle, allowing us to support customers with both the underlying data platforms and pipelines and the analytical solutions that ultimately make use of that data. We will continue to focus our investment on technologies where we see meaningful and sustained customer demand rather than seeking to support a broad range of individual products.

Financial instruments

The Company's principal financial instruments comprise bank balances, trade debtors and trade creditors. The
main purposes of these instruments are to raise funds for and to finance the Company's operations.

Page 6

 
THE INFORMATION LAB LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026

Post balance sheet events

Subsequent to the year-end, the Company distributed dividends of £1,600,000.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the Directors' 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


∙select suitable accounting policies for the Company's financial statements and then apply them consistently;

∙make judgements and accounting estimates that are reasonable and prudent;

∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

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

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

This report was approved by the board on 26 October 2026 and signed on its behalf.
 





T Brown
Director

Page 7

 
THE INFORMATION LAB LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE INFORMATION LAB LIMITED
 

Opinion


We have audited the financial statements of The Information Lab Limited (the 'Company') for the year ended 31 March 2026, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


∙give a true and fair view of the state of the Company's affairs as at 31 March 2026 and of its 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 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.


Page 8

 
THE INFORMATION LAB LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE INFORMATION LAB LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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.


Opinion on other matters prescribed by the Companies Act 2006
 

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


∙the information given in the 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.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.


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, or returns adequate for our audit have not been received from branches not visited by us; or
∙the 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' Responsibilities Statement set out on page 7, 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 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 Company or to cease operations, or have no realistic alternative but to do so.


Page 9

 
THE INFORMATION LAB LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE INFORMATION LAB LIMITED (CONTINUED)


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' 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.


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:
∙We determined that the laws and regulations which are directly relevant to the financial statements are those that relate to the reporting framework FRS 102 and the relevant tax compliance regulations in the jurisdictions in which the Company operates. We evaluated the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.
∙In addition, there are other significant laws and regulations which may have an effect on the determination of the amounts and disclosures in the financial statements being environmental, occupational health and safety, employment law, data protection regulation, fraud, bribery and corruption. For these laws and regulations, the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through fines or litigation being imposed. As required by the auditing standards, auditing procedures in respect of non-compliance with these identified laws and regulations are limited to enquiry of the Directors and other management and inspection of regulatory and legal correspondence, if any.
∙We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur, by meeting with a number of individuals, including with individuals outside of the finance function, and conducted interviews to understand where they considered there was susceptibility to fraud. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to areas of estimate and judgement in the financial statements.
∙Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations and fraud risks identified in the paragraphs above. In addition to the audit procedures, we remained alert to any indications of non-compliance throughout the audit. The specific audit procedures performed included:
°Reviewed large and unusual bank transactions;
°Identifying and testing journal entries. 


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.


Page 10

 
THE INFORMATION LAB LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE INFORMATION LAB LIMITED (CONTINUED)


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 Auditors' 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.





Sally Casson (Senior Statutory Auditor)
  
for and on behalf of
Ecovis Wingrave Yeats LLP
 
Chartered Accountants & Statutory Auditor
  
3rd Floor, Waverley House
7-12 Noel Street
London
W1F 8GQ

26 October 2026
Page 11

 
THE INFORMATION LAB LIMITED
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2026

2026
2025
Note
£
£

  

Turnover
 4 
39,215,064
39,620,890

Cost of sales
  
(27,305,902)
(28,923,212)

Gross profit
  
11,909,162
10,697,678

Administrative expenses
  
(9,290,237)
(8,532,146)

Operating profit
 5 
2,618,925
2,165,532

Interest receivable and similar income
 10 
41,543
83,958

Profit before tax
  
2,660,468
2,249,490

Tax on profit
 11 
(575,935)
(619,394)

Profit for the financial year
  
2,084,533
1,630,096

There was no other comprehensive income for 2026 (2025:£NIL).

The notes on pages 15 to 30 form part of these financial statements.

Page 12

 
THE INFORMATION LAB LIMITED
REGISTERED NUMBER: 07389833

BALANCE SHEET
AS AT 31 MARCH 2026

2026
2025
Note
£
£

Fixed assets
  

Tangible assets
 12 
-
18

  
-
18

Current assets
  

Debtors: amounts falling due within one year
 14 
22,274,017
21,954,081

Bank and cash balances
  
3,353,218
2,339,010

  
25,627,235
24,293,091

Creditors: amounts falling due within one year
 15 
(18,937,720)
(18,546,214)

Net current assets
  
 
 
6,689,515
 
 
5,746,877

Total assets less current liabilities
  
6,689,515
5,746,895

Provisions for liabilities
  

Deferred tax
 16 
-
(5)

  
 
 
-
 
 
(5)

Net assets
  
6,689,515
5,746,890


Capital and reserves
  

Called up share capital 
 17 
100
100

Other reserves
 18 
355,723
187,631

Profit and loss account
 18 
6,333,692
5,559,159

  
6,689,515
5,746,890


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 October 2026.




T Brown
Director

The notes on pages 15 to 30 form part of these financial statements.

Page 13

 
THE INFORMATION LAB LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2026


Called up share capital
Capital contribution
Profit and loss account
Total equity

£
£
£
£


At 1 April 2024
100
-
7,609,063
7,609,163



Profit for the year
-
-
1,630,096
1,630,096

Dividends: Equity capital
-
-
(3,680,000)
(3,680,000)

Share-based payment charge
-
187,631
-
187,631



At 1 April 2025
100
187,631
5,559,159
5,746,890


Comprehensive income for the year

Profit for the year
-
-
2,084,533
2,084,533

Dividends: Equity capital
-
-
(1,310,000)
(1,310,000)

Share-based payment charge
-
168,092
-
168,092


At 31 March 2026
100
355,723
6,333,692
6,689,515


The notes on pages 15 to 30 form part of these financial statements.

Page 14

 
THE INFORMATION LAB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026

1.


General information

The Information Lab Limited is a private company, limited by shares, incorporated in England and Wales, registration number 07389833. The registered office is 25 Watling Street, London, EC4M 9BR. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

  
2.2

Financial reporting standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in
the UK and Republic of Ireland":
 
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.41(b), 11.41(c), 11.41(e), 11.41(f) 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
 
This information is included in the consolidated financial statements of The Information Lab Holding Ltd as at 31 March 2026 and these financial statements may be obtained from 25 Watling Street, London, England, EC4M 9BR.
 

Page 15

 
THE INFORMATION LAB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Sale of Licences
Revenue from the sale of licences is recognised when the licence has been granted to the buyer, the amount of revenue can be measured reliably and it is probable that the economic benefits in respect of the transaction can be measured reliably. The licences are usually subscribed for a period of one year. Revenue is deferred and released on a monthly basis across the year. 
Consultancy income
Consultancy income is recognised immediately after the entity has provided the consultancy services. Amounts are accrued at the year end for individual's time spent that has not yet been invoiced.
 
Partner fees
Partner fees are calculated on a percentage of revenue generated by sales of licences and from consultancy services in the European entities. These are reported half-yearly and are estimated and accrued for the period across the year-end.

 
2.4

Going concern

After making the relevant enquiries, the directors have a reasonable expectation that the Company has adequate resources to continue in operation for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

 
2.5

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 16

 
THE INFORMATION LAB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

 
2.6

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.7

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.8

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 17

 
THE INFORMATION LAB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold improvements
-
Straight line over lease term
Office equipment
-
Straight line over 3 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 18

 
THE INFORMATION LAB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

  
2.12

Share-based payment

The Company participates in a group-wide equity-settled share option scheme operated by its parent company. Employees of The Information Lab Limited are eligible to receive options over the parent’s equity instruments under this scheme.
In accordance with FRS 102 Section 26, equity-settled share-based payment arrangements are measured at the fair value of the equity instruments at the grant date. A valuation was performed using an appropriate methodology to determine this fair value. The expense is recognised on a straight-line basis over the vesting period (from grant date to vesting date), based on the Company’s estimate of the number of options expected to vest.
The corresponding credit for the share-based payment expense is recognised in equity within a Capital Contribution Reserve, reflecting the contribution made by the parent company in respect of these employee benefits.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the reporting date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.
Tangible assets
Tangible assets are depreciated over their useful lives taking into account residual values where appropriate. The actual lives of assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing the assets' lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account.
Impairment of debtors
The Company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment, management considers factors including the current credit rating of the debtor, the ageing profile and historical experience.
Intercompany debtor recoverability
Included within the year-end amounts owed by group undertakings is £3.2 million due from companies under common control. Management have concluded that these intercompany debtors are recoverable, however, the timing of the collection of the amount is uncertain.
The Company's parent, The Information Lab Holding Ltd, has a material receivable from a company under common control. In the financial statements of The Information Lab Holding Ltd, it is disclosed that, should the company under common control be unable to settle the amount due, The Information Lab Limited is in a position to discharge the obligation on its behalf.
At the date of approving these financial statements, The Information Lab US remains in the early stages of its business lifecycle. The directors have assessed the recoverability of this balance based on the information available, including the latest financial performance of the US entity, which has achieved break-even and is progressing towards sustained profitability.
Although the timing of settlement is uncertain, the directors consider it probable that the amount will be recovered in full. 
 
Page 19

 
THE INFORMATION LAB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026

3.Judgements in applying accounting policies (continued)

Accruals
The Company makes an estimate of accruals at the year end based on invoices received after the year end, work undertaken which has not yet been invoiced based on quotations or estimates of amounts that may be due for payment.
Partner fee income
The Company makes an estimate of accrued partner fee income at year end based on the previous half yearly performance of the European partners.
Share based payments
The Company participates in a group-wide equity-settled share option scheme operated by the parent company. Under this arrangement, certain employees of the Company are granted options over the parent’s shares.
In accordance with FRS 102 Section 26, equity-settled share-based payments are measured at the fair value of the options at the grant date. Determining this fair value involves significant judgement. A valuation was performed using an appropriate option pricing model, which requires management to make assumptions about future events and market conditions.
Key assumptions applied in the valuation include:
 
∙Expected volatility of the parent company’s share price 
∙Expected dividend yield over the option life
∙Risk-free interest rate at the grant date
∙Expected life of the options, based on historical exercise behaviour and contractual terms

These assumptions are inherently judgemental and could materially affect the fair value determined. The resulting fair value is recognised as an expense over the vesting period, with a corresponding credit to equity. The expense attributable to the current year has been recognised in these financial statements.

Page 20

 
THE INFORMATION LAB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026

4.


Turnover

An analysis of turnover by class of business is as follows:


2026
2025
£
£

Sale of Licences
27,222,377
28,199,751

Consultancy Income
11,399,297
10,680,173

Partner Fees
593,390
740,966

39,215,064
39,620,890


Analysis of turnover by country of destination:

2026
2025
£
£

United Kingdom
28,319,863
27,734,623

Rest of Europe
8,293,491
9,667,497

Rest of the world
2,601,710
2,218,770

39,215,064
39,620,890



5.


Operating profit

The operating profit is stated after charging/(crediting):

2026
2025
£
£

Auditors' remuneration
31,500
30,000

Exchange differences
13,348
(20,839)

Other operating lease rentals
535,621
538,044

Share based payment
18
71

Defined contribution pension cost
377,409
785,397

Page 21

 
THE INFORMATION LAB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026

6.


Auditors' remuneration

During the year, the Company obtained the following services from the Company's auditors:


2026
2025
£
£

Fees payable to the Company's auditors for the audit of the Company's financial statements
31,500
30,000

Fees payable to the Company's auditors in respect of:

Taxation compliance services
3,500
3,300

All other non-audit services
4,200
4,500


7.


Employees

Staff costs, including directors' remuneration, were as follows:


2026
2025
£
£

Wages and salaries
9,458,789
8,983,470

Social security costs
1,291,402
1,075,477

Cost of defined contribution scheme
377,409
785,397

Share based payments
168,092
187,631

11,295,692
11,031,975


For the current year, the total expense recognised in the profit or loss account for share-based payments was £168,092 (2025 - £187,631). See note 21 for further details.

The average monthly number of employees, including the directors, during the year was as follows:


        2026
        2025
            No.
            No.







Directors
2
2



Consultants
107
110



Sales and support
50
50

159
162

Page 22

 
THE INFORMATION LAB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026

8.


Key management compensation

Key management comprises one of the directors and senior management. The compensation paid or payable to key management for employee services is shown below. 


2026
2025
£
£



Salaries and other short term benefits
705,476
579,591

705,476
579,591


9.


Directors' remuneration

2026
2025
£
£

Directors' emoluments
11,989
10,000

Company contributions to defined contribution pension schemes
-
60,000

11,989
70,000


During the year retirement benefits were accruing to no director (2025 - 1) in respect of defined contribution pension schemes.


10.


Interest receivable

2026
2025
£
£


Bank interest receivable
41,543
83,958

41,543
83,958

Page 23

 
THE INFORMATION LAB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026

11.


Taxation


2026
2025
£
£

Corporation tax


Current tax on profits for the year
744,896
600,415

Adjustments in respect of previous periods
(79,260)
488


665,636
600,903


Total current tax
665,636
600,903

Deferred tax


Deferred tax charged in the Profit or loss
(89,701)
18,491

Total deferred tax
(89,701)
18,491


Taxation on profit on ordinary activities
575,935
619,394
Page 24

 
THE INFORMATION LAB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
 
11.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is lower than (2025 - higher than) the standard rate of corporation tax in the UK of 25% (2025 - 25%). The differences are explained below:

2026
2025
£
£


Profit on ordinary activities before tax
2,660,468
2,249,490


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2025 - 25%)
665,117
562,373

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
18,490
56,533

Adjustments to tax charge in respect of prior periods
(79,260)
488

Movement in deferred tax not recognised
(28,412)
-

Total tax charge for the year
575,935
619,394


Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 25

 
THE INFORMATION LAB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026

12.


Tangible fixed assets





Office equipment
Leasehold improvements
Total

£
£
£



Cost or valuation


At 1 April 2025
26,098
156,591
182,689



At 31 March 2026

26,098
156,591
182,689



Depreciation


At 1 April 2025
26,080
156,591
182,671


Charge for the year on owned assets
18
-
18



At 31 March 2026

26,098
156,591
182,689



Net book value



At 31 March 2026
-
-
-



At 31 March 2025
18
-
18


13.


Dividends

2026
2025
£
£


Dividends
1,310,000
3,680,000

1,310,000
3,680,000

Page 26

 
THE INFORMATION LAB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026

14.


Debtors

2026
2025
£
£


Trade debtors
6,561,888
7,097,160

Amounts owed by group undertakings
3,203,980
3,106,850

Other debtors
11,504
9,812

Prepayments and accrued income
12,406,949
11,740,259

Deferred taxation
89,696
-

22,274,017
21,954,081


Amounts owed by group undertakings are unsecured, interest free and repayable on demand.


15.


Creditors: Amounts falling due within one year

2026
2025
£
£

Trade creditors
1,770,531
2,875,022

Corporation tax
338,177
376,967

Other taxation and social security
653,703
570,128

Other creditors
233,152
200,036

Accruals and deferred income
15,942,157
14,524,061

18,937,720
18,546,214



16.


Deferred taxation




2026


£






At start of year
(5)


Credited to profit or loss
89,701



At end of year
89,696

Page 27

 
THE INFORMATION LAB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
 
16.Deferred taxation (continued)

The deferred taxation balance is made up as follows:

2026
2025
£
£


Short term timing differences
89,701
-

Fixed asset timing differences
(5)
(5)

89,696
(5)


17.


Share capital

2026
2025
£
£
Allotted, called up and fully paid



100 (2025 - 100) Ordinary shares of £1 each
100
100

There is a single class of ordinary shares. There are no restrictions on the distribution of dividends and the repayment of capital.



18.


Reserves

Capital contribution

The Capital contribution represents the equity contribution from the parent company arising from the share based payment arrangements.

Profit and loss account

The profit and loss account comprises accumulated profits.


19.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £377,409 (2025 - £785,397). Contributions totalling £77,046 (2025 - £Nil) were payable to the fund at the balance sheet date and are included in creditors. 

Page 28

 
THE INFORMATION LAB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026

20.


Commitments under operating leases

At 31 March 2026 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2026
2025
£
£


Not later than 1 year
501,825
646,193

Later than 1 year and not later than 5 years
307,380
969,290


21.


Share-based payments

The Company participates in a group-wide equity-settled share option scheme operated by the parent company. Under this arrangement, certain employees of the Company are granted options over the parent’s shares.
In accordance with FRS 102 Section 26, equity-settled share-based payments are measured at the fair value of the options at the grant date. Determining this fair value involves significant judgement. A valuation was performed using an appropriate option pricing model, which requires management to make assumptions about future events and market conditions.
The vesting conditions for the current option grant require continuous service until the vesting date. Options will fully vest in October 2026, or earlier upon an Exit Event, and lapse if not exercised by August 2033. The option agreement includes provisions for good leavers (who may retain vested options for a limited period) and bad leavers (whose options lapse immediately). Options also lapse upon bankruptcy or breach of transfer restrictions. The fair value of the options granted has been determined by reference to the unrestricted market value of the shares at the grant date.

Weighted average exercise price (pence)
2026
Number
2026
Weighted average exercise price
(pence)
2025
Number
2025

Outstanding at the beginning of the year

0.0001

76,307

0.0001
 
47,670
 
Granted during the year

0.0001

50,813

0.0001
 
30,098
 
Forfeited during the year

0.0001

(300)

0.0001
 
(1,461)
 
Exercised during the year

-

-

-
 
-
 
Expired during the year

-

-

-
 
-
 
Outstanding at the end of the year
0.0001

126,820

0.0001
 
76,307
 




Page 29

 
THE INFORMATION LAB LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026

22.


Related party transactions

The Company has taken advantage of the exemption contained within FRS 102 from disclosing transactions with wholly owned group companies.
Included in other creditors is an amount owed to one of the Directors of £8,076 
(2025 - £15,354). During the year, expenses of £169,550 (2025 - £10,000) were paid personally by one of the Directors on behalf of the Company. The balance is unsecured, interest free and repayable on demand.


23.


Post balance sheet events

Subsequent to the year-end, the Company distributed dividends of £1,600,000.


24.


Controlling party

The Company's immediate and ultimate parent Company is The Information Lab Holding Ltd, a company incorporated in England and Wales whose registered office is 25 Watling Street, London, United Kingdom, EC4M 9BR.
The results of the Company are consolidated into The Information Lab Holding Ltd and are available for
download from Companies House in England & Wales. 
T Brown is the ultimate controlling party.

 
Page 30