What this says
As at Fri 9 Oct 2026Final board pack from the Chief Financial Officer, issued 20 Apr 2026. It reports contracted annual recurring revenue of £2.4m, 56 customers and headcount of 41 at 31 Mar 2026. It gives no breakdown by tier.
What it is: an internal board pack for the quarter ending 31 Mar 2026, prepared by Bridget Kearsley and marked Final. It asks the board to note the closing position.
Claims: ARR is stated as £2.4m on the basis of "Executed order forms", with 56 customers counted as those with a live contract. Headcount of 41 comes from HR records.
Caveats: the document says "This pack does not break ARR down by tier or by cohort" and that the CRM and accounting reconciliation is not yet complete for every account. It treats CRM ARR as a claim to be checked, not an answer.
Not settled: renewal outcomes, new business, cash received and any forecast revision are reported elsewhere. It is a quarter-end snapshot, so it should not be read as the current position.
Body
BG-Demo - Board Pack - quarter to 31 Mar 2026
Status: Final Prepared by: Bridget Kearsley, Chief Financial Officer Issued: 20 Apr 2026 Period covered: the quarter ending 31 Mar 2026
Purpose of this pack
This pack gives the board the headline position of BG-Demo at the close of the quarter. It is deliberately short. Every figure comes from the finance system and the contracted order forms, and for the avoidance of doubt, where a number is not shown here it is because our records do not yet support it.
Headline numbers
| Measure | Position at 31 Mar 2026 | Basis |
|---|---|---|
| Annual recurring revenue (contracted) | £2.4m | Executed order forms |
| Customers | 56 | Customers with a live contract |
| Headcount | 41 | HR records |
How to read these
Read the whole document (4,645 characters)
- Annual recurring revenue is the contracted annual subscription value. It excludes one-off implementation fees, which are fixed-fee and earned once when a customer joins.
- Customers counts organisations with a live contract at the quarter end. An organisation that is marked as a customer in the CRM but has no live contract and no invoices since its last term ended is not counted.
- Headcount is the number of people employed by BG-Demo at the quarter end, as held by HR.
Annual recurring revenue
Contracted annual recurring revenue closed the quarter at £2.4m.
Commentary:
- The figure is built from executed order forms, checked against what accounting has invoiced. Where the CRM amount and the order form differ, the order form has been used.
- Credit notes issued in the period are treated as one-offs and do not change the recurring figure.
- Two CRM organisations sharing a domain are counted once.
- This pack does not break ARR down by tier or by cohort. That analysis is planned for the next pack, once the reconciliation between the CRM and accounting is complete for every account.
Customers
The business ended the quarter with 56 customers.
Commentary:
- The count reflects live contracts only, so it is a conservative measure and will not match the CRM lifecycle field exactly.
- Average contracted value per customer can be derived from the two headline figures above, but we would ask the board to treat it as indicative only, because the mix of tiers is not presented in this pack.
- Renewal outcomes and new business for the period are reported separately in the commercial update and are not restated here.
People
Headcount at the quarter end was 41.
Commentary:
- Headcount is taken from HR records, not from CRM ownership fields. Any account whose CRM owner has left the business is reported as having no active owner until it is reassigned.
- Hiring and attrition detail sits with the leadership team and is not repeated here.
Finance commentary
- Collections. Invoices are issued annually in advance, with quarterly billing on request, on thirty-day terms. Cash received in the quarter is reported in the management accounts rather than in this pack.
- Forecast. The forecast the board has seen previously is unchanged by this pack. Any revision will be presented with its supporting reconciliation, and I would be grateful if questions on method were raised before the next meeting so they can be answered in writing.
- Data quality. Invoices should match the CRM deal record. Where they do not, the finance team raises the difference with the account owner and corrects the record that is wrong.
Risks and watch points
| Area | Watch point | Owner |
|---|---|---|
| Reconciliation | CRM ARR is a claim to be checked against invoices and order forms, never the answer by itself | Chief Financial Officer |
| Customer count | Lifecycle stage in the CRM may overstate customers where contracts have lapsed | Chief Financial Officer |
| Account ownership | Accounts still assigned to departed staff need a named active owner | Leadership team |
| Forecast | Any change to the forecast needs a figure the finance system can cite | Chief Financial Officer |
Decisions and next steps
- The board is asked to note the closing position: annual recurring revenue of £2.4m, 56 customers and headcount of 41.
- Finance will complete the account-by-account reconciliation of CRM, order forms and invoices and report the result in the next pack.
- A breakdown of ARR by tier will be added to the next pack.
- Any waiver or discount outside the standard terms remains a matter for the Chief Executive, Nell Ashcombe, and is not proposed here.
Sign-off
Prepared and issued by Bridget Kearsley, Chief Financial Officer, on 20 Apr 2026.
Best, Bridget