What this says
As at Fri 9 Oct 2026BG-Demo's final board pack for the quarter to 31 Dec 2023, written by Nell Ashcombe. It states contracted ARR of £213k, ten customers and eleven staff, and says what it does not yet show. It is historical, not a contract.
What it is: an internal board pack, dated 17 Jan 2024, marked "Final, version one". It is deliberately short and gives three headline numbers with their definitions.
Claims: ARR is "Annual subscription value under executed order forms", at £213k across ten customers, with eleven people employed. It excludes one-off implementation fees and CRM-only "Customer" names.
Not settled: "a movement bridge from the previous quarter, or a split by tier" is not shown. The pack also gives no per-customer detail or renewal dates.
Currency: the figures are as at 31 Dec 2023 and should not be read as current. The pack commits the board to nothing and names priorities owned by Nell.
Body
BG-Demo - Board Pack - quarter to 31 Dec 2023
Prepared by: Nell Ashcombe, Chief Executive Officer and Co-founder Date: Wednesday 17 January 2024 Status: Final, version one Period covered: the quarter ending 31 Dec 2023
Purpose of this pack
This pack gives the board a plain view of where BG-Demo stands at the end of the quarter. It is deliberately short. It states three headline numbers, says what each one means, and says what we do not yet show here. Where the evidence is thin, I have said so rather than fill the gap.
Headline numbers
| Measure | At 31 Dec 2023 | How it is defined |
|---|---|---|
| Annual recurring revenue (contracted) | £213k | Annual subscription value under executed order forms |
| Customers | 10 | Organisations with a live contract |
| Headcount | 11 | People employed by BG-Demo |
Three things to note about how these are counted:
Read the whole document (4,572 characters)
- ARR is the contracted figure from order forms. It is not a CRM estimate and it does not include the one-off implementation fees we charge when a customer joins.
- A customer is counted only where there is a live contract. A name in the CRM marked "Customer" without one is not counted.
- Headcount is the employed team at the quarter end, taken from our own people records.
Annual recurring revenue
Contracted ARR closes the quarter at £213k across ten customers. That is the number the business is built on: it is what renews, and what we have to keep at the right price.
What this pack does not show: a movement bridge from the previous quarter, or a split by tier. Those will come once the reporting is set up to produce them reliably. I would rather the board saw one figure we can defend than three we cannot.
Customers
We finish the quarter with ten customers. At this size every account matters individually, and the board should read the customer count as a list of relationships rather than a statistical base.
The practical consequences:
- Each renewal is a material event for ARR, so the renewal conversation starts well before the notice date.
- Each customer's champion is a single point of dependency. If that person leaves, we need a second relationship already in place.
- Adoption is the best predictor of renewal. We want to be able to say, account by account, what the brain is worth to that customer, and say how we know.
Team
Headcount is eleven. The company is small enough that everybody sells, supports or builds, and often does all three in a week.
The constraint to watch is delivery capacity. Every new customer brings an implementation, and the same people who run implementations also look after the customers already live. Hiring decisions should follow signed demand, not forecast demand.
What went well
- We have ten customers on contract and a contracted ARR figure that reconciles to executed order forms.
- The product is running inside each customer's own Snowflake account, which remains the central part of how we are different and how we pass security review.
- The team is small, close to the customers and quick to react when something breaks.
What worries me
Saying this plainly, as I would want it said to me:
- Concentration. With ten customers, losing one is a visible dent in ARR.
- Evidence of value. We can show usage, but we are not yet consistent at putting a value case in front of each customer before the renewal conversation.
- Reporting. The board pack is only as good as the data behind it. We need the same discipline on our own numbers that we sell to customers.
Priorities for the coming quarter
| Priority | Why it matters | Owner |
|---|---|---|
| Review every customer's usage and name a second contact at each | Reduces champion risk before renewals | Nell Ashcombe |
| Write a short value summary for each customer | Gives the renewal conversation evidence | Nell Ashcombe |
| Produce a movement bridge and tier split for the next pack | Lets the board see growth and mix | Nell Ashcombe |
| Hold hiring to signed demand | Protects delivery quality and cash | Nell Ashcombe |
Decisions and asks of the board
- To note the position at the quarter end: ARR of £213k, ten customers and eleven people.
- To agree that the next pack carries a bridge and a tier split.
- To share any customer introductions or experience that would help us widen the pipeline.
Closing note
The numbers are modest and they are real. That is the right foundation. The next step is to make them dependable, account by account, before we ask them to grow.
Best, Nell