Which way is better and faster?

I need top 5 notifications. My previous code was:- 

PHP Code:

$result = $this->notification_model->where(array(
 'deleted' => '0',
 "company_id" => $this->session->userdata("company_id"),
 "date(created_on) >= " => $range['fiscal']['start'],
 "date(created_on) <= " => $range['fiscal']['end']
))
 ->order_by("created_on", "desc")
 ->find_all();

$top_notifications = array();
if (count($result) > 5) {
 $top_notifications = array_slice($result, 0, 5);
} else {
 $top_notifications = $result;
} 


and I am thinking of changing it to :-

PHP Code:

$top_notifications = $this->notification_model->where(array(
 'deleted' => '0',
 "company_id" => $this->session->userdata("company_id"),
 "date(created_on) >= " => $range['fiscal']['start'],
 "date(created_on) <= " => $range['fiscal']['end']
))
 ->order_by("created_on", "desc")
        ->limit(5)
 ->find_all(); 


Which is faster and better. First method or second method?

PS:- Its in CI Bonfire.

The second is probably faster.

If you have 1,000,000 records, the first code gets all of them from the database, and get the 5 records in PHP.
$result is an array with 1,000,000 items.

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