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Company registration number: 14503587







FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 DECEMBER 2023


BISHOP FOX LIMITED






































                        

 


BISHOP FOX LIMITED
 


 
COMPANY INFORMATION


Director
G D J Castro 




Registered number
14503587



Registered office
Magna House
18-32 London Road

Staines-Upon-Thames

Surrey

TW18 4BP




Independent auditors
Hayvenhursts Limited
Chartered Accountants & Statutory Auditor

Fortran Rd

St. Mellons

Cardiff

CF3 0LT





 


BISHOP FOX LIMITED
 



CONTENTS



Page
Statement of financial position
1
Notes to the financial statements
2 - 5


 


BISHOP FOX LIMITED
REGISTERED NUMBER:14503587



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
Note
£

Fixed assets
  

Tangible assets
 4 
3,029

  
3,029

Current assets
  

Debtors: amounts falling due within one year
 5 
97,154

Cash at bank and in hand
  
54,652

  
151,806

Creditors: amounts falling due within one year
 6 
(127,432)

Net current assets
  
 
 
24,374

Total assets less current liabilities
  
27,403

  

Net assets
  
27,403


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
27,303

  
27,403


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




G D J Castro
Director

Date: 22 August 2024

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 


BISHOP FOX LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Bishop Fox Limited is a private company, limited by shares, and incorporated in Engalnd and Wales. The principal place of business is 25 Wilton Rd, London, SW1V 1LW. 
This accounting period is longer than a year due to this being the first set of accounts produced by the entity.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

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.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and that 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. Revenue is generated primarily by providing IT security related assessments. 

Page 2

 


BISHOP FOX LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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 Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

 
2.6

Taxation

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 reporting date in the countries where the company operates and generates income.

 
2.7

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Computer equipment
-
33%
Reducing balance

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.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 3

 


BISHOP FOX LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial
assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans
to related parties and investments in non-puttable ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 3.


4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


Additions
3,518



At 31 December 2023

3,518



Depreciation


Charge for the period on owned assets
489



At 31 December 2023

489



Net book value



At 31 December 2023
3,029

Page 4

 


BISHOP FOX LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

5.


Debtors

2023
£


Trade debtors
23,040

Other debtors
72,483

Called up share capital not paid
100

Prepayments and accrued income
1,531

97,154



6.


Creditors: Amounts falling due within one year

2023
£

Trade creditors
14,516

Corporation tax
8,902

Other taxation and social security
47,402

Other creditors
4,049

Accruals and deferred income
52,563

127,432



7.


Controlling party

The parent company of the entity is Bishop Fox, Inc. The headquarters are at 1414 W Broadway Rd, Suite 233, Tempe, AZ 85282, United States.


8.


Auditors' information

The auditors' report on the financial statements for the period ended 31 December 2023 was unqualified.

The audit report was signed on 23 August 2024 by Gareth R Williams (Senior statutory auditor) on behalf of Hayvenhursts Limited.

 
Page 5