Acorah Software Products - Accounts Production 15.0.600 false true true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 07486572 Mr Leon Harris Mr David Hewitson Mr Colin King iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07486572 2023-01-31 07486572 2024-01-31 07486572 2023-02-01 2024-01-31 07486572 frs-core:CurrentFinancialInstruments 2024-01-31 07486572 frs-core:Non-currentFinancialInstruments 2024-01-31 07486572 frs-core:FurnitureFittings 2024-01-31 07486572 frs-core:FurnitureFittings 2023-02-01 2024-01-31 07486572 frs-core:FurnitureFittings 2023-01-31 07486572 frs-core:PlantMachinery 2024-01-31 07486572 frs-core:PlantMachinery 2023-02-01 2024-01-31 07486572 frs-core:PlantMachinery 2023-01-31 07486572 frs-core:WithinOneYear 2024-01-31 07486572 frs-core:SharePremium 2024-01-31 07486572 frs-core:ShareCapital 2024-01-31 07486572 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 07486572 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 07486572 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 07486572 frs-bus:SmallEntities 2023-02-01 2024-01-31 07486572 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 07486572 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 07486572 frs-bus:Director1 2023-02-01 2024-01-31 07486572 frs-bus:Director1 2023-01-31 07486572 frs-bus:Director1 2024-01-31 07486572 frs-bus:Director2 2023-02-01 2024-01-31 07486572 frs-bus:Director3 2023-02-01 2024-01-31 07486572 frs-bus:Director3 2023-01-31 07486572 frs-bus:Director3 2024-01-31 07486572 frs-countries:EnglandWales 2023-02-01 2024-01-31 07486572 2022-01-31 07486572 2023-01-31 07486572 2022-02-01 2023-01-31 07486572 frs-core:CurrentFinancialInstruments 2023-01-31 07486572 frs-core:Non-currentFinancialInstruments 2023-01-31 07486572 frs-core:WithinOneYear 2023-01-31 07486572 frs-core:SharePremium 2023-01-31 07486572 frs-core:ShareCapital 2023-01-31 07486572 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 07486572
Fenix Insight Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
Finerva
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07486572
2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 11,525 1,864
11,525 1,864
CURRENT ASSETS
Stocks 5 13,760 14,320
Debtors 6 171,252 197,273
Cash at bank and in hand 81,012 69,709
266,024 281,302
Creditors: Amounts Falling Due Within One Year 7 (187,427 ) (85,712 )
NET CURRENT ASSETS (LIABILITIES) 78,597 195,590
TOTAL ASSETS LESS CURRENT LIABILITIES 90,122 197,454
Creditors: Amounts Falling Due After More Than One Year 8 (14,356 ) (25,780 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (354 )
NET ASSETS 75,766 171,320
CAPITAL AND RESERVES
Called up share capital 9 3 2
Share premium account 1,518,492 500,000
Profit and Loss Account (1,442,729 ) (328,682 )
SHAREHOLDERS' FUNDS 75,766 171,320
Page 1
Page 2
For the year ending 31 January 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 David Hewitson
Director
11 September 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Fenix Insight Ltd is a private company,  limited by shares, incorporated in England & Wales, registered number 07486572 . The registered office is Unit 14f Borers Yard, Borers Arms Road, Capthorne, West Sussex, RH10 3LH.
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. Going Concern Disclosure
The company’s financial statements have been prepared on a going concern basis on the grounds  that current and future sources of funding or support will be more than adequate for the company’s needs. In assessing going concern, the directors have a reasonable expectation that the company will continue as a going concern and is able to meet all of its obligations as they fall due for a minimum of 12 months from the date of approval of these financial statements.
2.3. 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.
2.4. 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:
Computer equipment over 5 years on a straight line basis
Fixtures & Fittings over 5 years on a straight line basis
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.   Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. 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.
Page 3
Page 4
2.7. 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.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable  in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 21 (2023: 14)
21 14
4. Tangible Assets
Computer equipment Fixtures & Fittings Total
£ £ £
Cost
As at 1 February 2023 10,001 14,386 24,387
Additions 13,280 - 13,280
As at 31 January 2024 23,281 14,386 37,667
Depreciation
As at 1 February 2023 9,333 13,190 22,523
Provided during the period 2,423 1,196 3,619
As at 31 January 2024 11,756 14,386 26,142
Net Book Value
As at 31 January 2024 11,525 - 11,525
As at 1 February 2023 668 1,196 1,864
Page 4
Page 5
5. Stocks
2024 2023
as restated
£ £
Finished goods 10,000 3,000
Work in progress 3,760 11,320
13,760 14,320
6. Debtors
2024 2023
as restated
£ £
Due within one year
Trade debtors 115,521 78,865
Other debtors 55,731 118,408
171,252 197,273
7. Creditors: Amounts Falling Due Within One Year
2024 2023
as restated
£ £
Trade creditors 19,973 42,159
Bank loans and overdrafts 10,644 9,870
Other creditors 156,810 33,683
187,427 85,712
Included in Other creditors is £86,037 of Deferred Income.
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
as restated
£ £
Bank loans 14,356 25,780
9. Share Capital
2024 2023
as restated
£ £
Allotted, Called up and fully paid 3 2
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
as restated
£ £
Not later than one year 5,339 -
5,339 -
Page 5
Page 6
11. Pension Commitments
The company operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £3,885 (2023: £3,023) were due to the fund.  They are included in Other Creditors.
12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 February 2023 Amounts advanced Amounts repaid Amounts written off As at 31 January 2024
£ £ £ £ £
Mr David Hewitson 3,651 - - - 3,651
Mr Colin King 4,558 - - - 4,558
The above loan is unsecured, interest free and repayable on demand.
13. Post Balance Sheet Events
After the year end, the following investment was raised from the allottment of ordinary shares:
- £19,975 for 75 ordinary shares allotted on 4 April 2024, and
- £25,035 for 94 ordinary shares allotted on 16 May 2024.
14. Related Party Transactions
During the year the Company paid a total of £11,250 (2023: £5,856) on agreed terms to a company that is
controlled by Mr. C. King who is also a director of Fenix Insight Ltd. The amount due from that
company at 31 January 2024 was £540 (2023: £Nil). 
Page 6