Acorah Software Products - Accounts Production 15.0.600 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 03834233 Mr Stephen Rodney Mr Adrian Fox iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03834233 2023-02-28 03834233 2024-02-29 03834233 2023-03-01 2024-02-29 03834233 frs-core:CurrentFinancialInstruments 2024-02-29 03834233 frs-core:Non-currentFinancialInstruments 2024-02-29 03834233 frs-core:ComputerEquipment 2024-02-29 03834233 frs-core:ComputerEquipment 2023-03-01 2024-02-29 03834233 frs-core:ComputerEquipment 2023-02-28 03834233 frs-core:FurnitureFittings 2023-03-01 2024-02-29 03834233 frs-core:NetGoodwill 2023-03-01 2024-02-29 03834233 frs-core:CapitalRedemptionReserve 2024-02-29 03834233 frs-core:SharePremium 2024-02-29 03834233 frs-core:ShareCapital 2024-02-29 03834233 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 03834233 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 03834233 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 03834233 frs-bus:SmallEntities 2023-03-01 2024-02-29 03834233 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 03834233 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 03834233 frs-bus:OrdinaryShareClass2 2023-03-01 2024-02-29 03834233 frs-bus:OrdinaryShareClass2 2024-02-29 03834233 frs-bus:OrdinaryShareClass3 2023-03-01 2024-02-29 03834233 frs-bus:OrdinaryShareClass3 2024-02-29 03834233 frs-bus:OrdinaryShareClass4 2023-03-01 2024-02-29 03834233 frs-bus:OrdinaryShareClass4 2024-02-29 03834233 frs-core:CostValuation 2023-02-28 03834233 frs-core:DisposalsRepaymentsInvestments 2024-02-29 03834233 frs-core:CostValuation 2024-02-29 03834233 frs-core:ProvisionsForImpairmentInvestments 2023-02-28 03834233 frs-core:ProvisionsForImpairmentInvestments 2024-02-29 03834233 frs-core:UnlistedNon-exchangeTraded 2024-02-29 03834233 frs-core:UnlistedNon-exchangeTraded 2023-02-28 03834233 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-02-28 03834233 frs-core:DisposalsRepaymentsInvestments frs-core:UnlistedNon-exchangeTraded 2024-02-29 03834233 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-02-29 03834233 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-02-28 03834233 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-02-29 03834233 frs-bus:Director1 2023-03-01 2024-02-29 03834233 frs-bus:Director1 2023-02-28 03834233 frs-bus:Director1 2024-02-29 03834233 frs-bus:Director2 2023-03-01 2024-02-29 03834233 frs-countries:EnglandWales 2023-03-01 2024-02-29 03834233 2022-02-28 03834233 2023-02-28 03834233 2022-03-01 2023-02-28 03834233 frs-core:CurrentFinancialInstruments 2023-02-28 03834233 frs-core:Non-currentFinancialInstruments 2023-02-28 03834233 frs-core:CapitalRedemptionReserve 2023-02-28 03834233 frs-core:SharePremium 2023-02-28 03834233 frs-core:ShareCapital 2023-02-28 03834233 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 03834233 frs-bus:OrdinaryShareClass2 2022-03-01 2023-02-28 03834233 frs-bus:OrdinaryShareClass3 2022-03-01 2023-02-28 03834233 frs-bus:OrdinaryShareClass4 2022-03-01 2023-02-28
Registered number: 03834233
Fox Rodney Search Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Kalculus
Chartered Accountants, Auditors & Business Advisers
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03834233
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 483 4,006
Investments 5 75,784 175,793
76,267 179,799
CURRENT ASSETS
Debtors 6 722,965 2,152,898
Cash at bank and in hand 1,814,340 1,783,964
2,537,305 3,936,862
Creditors: Amounts Falling Due Within One Year 7 (923,309 ) (2,610,756 )
NET CURRENT ASSETS (LIABILITIES) 1,613,996 1,326,106
TOTAL ASSETS LESS CURRENT LIABILITIES 1,690,263 1,505,905
Creditors: Amounts Falling Due After More Than One Year 8 (12,500 ) (22,500 )
NET ASSETS 1,677,763 1,483,405
CAPITAL AND RESERVES
Called up share capital 9 11,110 11,110
Share premium account 506,704 506,704
Capital redemption reserve 6,177 6,177
Profit and Loss Account 1,153,772 959,414
SHAREHOLDERS' FUNDS 1,677,763 1,483,405
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Page 2
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Stephen Rodney
Director
10 September 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Fox Rodney Search Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03834233 . The registered office is 2nd Floor, Gadd House, Arcadia Avenue, London, N3 2JU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% per annum on cost
Computer Equipment 33% per annum on cost
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 25 (2023: 24)
25 24
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 March 2023 149,558
As at 29 February 2024 149,558
Depreciation
As at 1 March 2023 145,552
Provided during the period 3,523
As at 29 February 2024 149,075
Net Book Value
As at 29 February 2024 483
As at 1 March 2023 4,006
5. Investments
Subsidiaries Unlisted Total
£ £ £
Cost
As at 1 March 2023 75,784 100,009 175,793
Disposals - (100,009 ) (100,009 )
As at 29 February 2024 75,784 - 75,784
Provision
As at 1 March 2023 - - -
As at 29 February 2024 - - -
Net Book Value
As at 29 February 2024 75,784 - 75,784
As at 1 March 2023 75,784 100,009 175,793
Details of the company's subsidiaries at 29 February 2024 are as follow:
Nature of undertakings
Registered offoce
Nature of business
Class of share held
% Held direct
Fox Rodney Search (London) Ltd
UK
Dormant
Ordinary
100.00
Fox Rodney Search GmbH
Germany
Recruitment agent
Ordinary
75.00
SAS Fox Rodney Search SAS
France
Recruitment agent
Ordinary
100.00
The aggregated capital and reserves and the result for the year of the subsidiaries noted above was as follow:
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Name of undertaking
Capital and Reserves
               £
Profit/(Loss)
   £
Fox Rodney Search ((London) Ltd
Nil
Nil
Fox Rodney Search GmbH
177,016
122,521
SAS Fox Rodney Search SAS
103,502
35,673
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 478,795 2,033,094
Prepayments and accrued income 56,156 58,912
Other debtors 178,014 60,892
Directors' loan accounts 10,000 -
722,965 2,152,898
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 19,394 58,928
Bank loans and overdrafts 10,000 65,918
Corporation tax - 139,290
Other taxes and social security 155,420 248,409
VAT 160,538 406,444
Other creditors 23,552 12,923
Accruals and deferred income 554,405 1,555,624
Directors' loan accounts - 123,220
923,309 2,610,756
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 12,500 22,500
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
9,700 Ordinary A shares of £ 1.00 each 9,700 9,700
300 Ordinary B shares of £ 1.00 each 300 300
1,110 Ordinary C shares of £ 1.00 each 1,110 1,110
11,110 11,110
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10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 29 February 2024
£ £ £ £ £
Mr Stephen Rodney (61,235 ) 71,985 750 - 10,000
The above loan is unsecured, interest free and repayable on demand.
11. Share-based payment transactions
Number of share options
Weighted average exercise price
2024
2023
2024
2023
Outstanding at 28 February 2023 and 29 February 2024
4,336
4,336
98.14
98.14
Exercised at February 2024
-
-
-
-
The Options outstanding at 29 February 2024 had an exercise price ranging from £1.00 to £437.61 and an indefinite contractual life.
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