Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31truetruetruetruetruefalseThe principal activity of the Company during the year was that of a holding company for its trading subsidiaries, Finders Genealogists Limited and Finders International Property Limited.2023-02-01false11truefalse 11693485 2023-02-01 2024-01-31 11693485 2022-02-01 2023-01-31 11693485 2024-01-31 11693485 2023-01-31 11693485 2022-02-01 11693485 c:Director1 2023-02-01 2024-01-31 11693485 c:Director2 2023-02-01 2024-01-31 11693485 c:Director2 2024-01-31 11693485 c:RegisteredOffice 2023-02-01 2024-01-31 11693485 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-01 2024-01-31 11693485 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-31 11693485 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-31 11693485 d:CurrentFinancialInstruments 2024-01-31 11693485 d:CurrentFinancialInstruments 2023-01-31 11693485 d:UKTax 2023-02-01 2024-01-31 11693485 d:UKTax 2022-02-01 2023-01-31 11693485 d:RetainedEarningsAccumulatedLosses 2023-02-01 2024-01-31 11693485 d:OtherDeferredTax 2024-01-31 11693485 d:OtherDeferredTax 2023-01-31 11693485 c:OrdinaryShareClass1 2023-02-01 2024-01-31 11693485 c:OrdinaryShareClass1 2024-01-31 11693485 c:OrdinaryShareClass1 2023-01-31 11693485 c:FRS102 2023-02-01 2024-01-31 11693485 c:Audited 2023-02-01 2024-01-31 11693485 c:FullAccounts 2023-02-01 2024-01-31 11693485 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 11693485 d:Subsidiary1 2023-02-01 2024-01-31 11693485 d:Subsidiary1 1 2023-02-01 2024-01-31 11693485 d:Subsidiary2 2023-02-01 2024-01-31 11693485 d:Subsidiary2 1 2023-02-01 2024-01-31 11693485 d:Subsidiary3 2023-02-01 2024-01-31 11693485 d:Subsidiary3 1 2023-02-01 2024-01-31 11693485 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2023-02-01 2024-01-31 11693485 2 2023-02-01 2024-01-31 11693485 6 2023-02-01 2024-01-31 11693485 e:PoundSterling 2023-02-01 2024-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11693485









NIELSEN-CURRAN HOLDINGS LIMITED (FORMERLY KNOWN AS FINDERS INTERNATIONAL HOLDINGS LIMITED)









ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

 
NIELSEN-CURRAN HOLDINGS LIMITED
 
 
COMPANY INFORMATION


Directors
D W Curran 
A R Nielsen 




Registered number
11693485



Registered office
Leytonstone House
3 Hanbury Drive

London

E11 1GA




Independent auditors
Barnes Roffe LLP
Chartered Accountants 
Statutory Auditor

Leytonstone House

3 Hanbury Drive

Leytonstone

London

E11 1GA





 
NIELSEN-CURRAN HOLDINGS LIMITED
 

CONTENTS



Page
Strategic report
 
1
Directors' report
 
2 - 3
Independent auditors' report
 
4 - 7
Statement of comprehensive income
 
8
Balance sheet
 
9
Notes to the financial statements
 
10 - 21


 
NIELSEN-CURRAN HOLDINGS LIMITED
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 31 JANUARY 2024

Introduction
 
The principal activity of Nielsen-Curran Holdings Ltd continued to be that of a holding company.

Business review
 
The director aims to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the year end. The review is consistent with the size and non-complex nature of the business.
The director considers the key financial performance indicators to be net assets and net profits. Net profits provide a good measure of the performance of the company, whilst net assets demonstrate the financial strength of the company.
During the year, net profits before tax have also increased to £1,854,034 
(2023 - Loss £188,860)
The financial position of the company continues to be strong at the year end with a healthy cash balance, while net assets remain in excess of £5m

Principal risks and uncertainties
 
The management of the business is subject to a number of risks. The key business risks and uncertainties are considered to relate to the current economic climate.
The global economy continues to be uncertain. As a result of market changes the company has diversified its investment portfolio.

Financial key performance indicators
 
The companies operations expose it to a variety of financial risks that include price risk, credit risk, liquidity risk and interest rate risk. The group has in place a risk management program that seeks to limit adverse effects on the financial performance of the group.

Credit and liquidity risks
 
The group has limited exposure to credit risk. The cash balance at the year-end was £401k (2023 - £454k) which provides the company with adequate working capital. The directors recognises the importance of funding and liquidity under the current economic climate and will continue to monitor the group's financial resources to ensure that the group is able to support its activities and future growth.
Interest rate and cash flow risk
The group has both interest bearing assets and interest bearing liabilities. Interest bearing assets include cash balances, which attract interest at the prevailing market rate. Interest bearing liabilities include bank loans which attract interest at fixed rates.


This report was approved by the board on 10 October 2024 and signed on its behalf.



D W Curran
Director

Page 1

 
NIELSEN-CURRAN HOLDINGS LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JANUARY 2024

The directors present their report and the financial statements for the year ended 31 January 2024.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The profit for the year, after taxation, amounted to £1,854,034 (2023 - loss £152,860).

During the year dividends of £100 (2023 - £165,000) were declared.

Directors

The directors who served during the year were:

D W Curran 
A R Nielsen (appointed 9 November 2023)

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Page 2

 
NIELSEN-CURRAN HOLDINGS LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024

Auditors

The auditorsBarnes Roffe LLPwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 10 October 2024 and signed on its behalf.
 





D W Curran
Director

Page 3

 
NIELSEN-CURRAN HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF NIELSEN-CURRAN HOLDINGS LIMITED
 

Opinion


We have audited the financial statements of Nielsen-Curran Holdings Limited (the 'Company') for the year ended 31 January 2024, which comprise the Statement of comprehensive income, the Balance sheet and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 31 January 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Page 4

 
NIELSEN-CURRAN HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF NIELSEN-CURRAN HOLDINGS LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and  our Auditors' report thereon.  The directors are responsible for the other information contained within the Annual Report.  Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated.  If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves.  If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Directors' responsibilities statement set out on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Page 5

 
NIELSEN-CURRAN HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF NIELSEN-CURRAN HOLDINGS LIMITED (CONTINUED)


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
 
Ensuring that the engagement team collectively had the appropriate competence, capabilities and skills to identify non-compliance with applicable laws and regulations;
We identified the laws and regulations applicable to the company through discussions with directors, and from our commercial knowledge and experience of the relevant sector;
The specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, are as follows - Companies Act 2006. FRS 102, Employment legislation and Tax legislation.
We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence.
Laws and regulations were communicated within the audit team at the planning meeting, and the audit team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and 
Considering the internal controls in place to mitigate risks of fraud and non- compliance with laws and regulations.
Reviewing the financial statements and testing the disclosures against supporting documentation;
Performing analytical procedures to identify any unusual or unexpected trends or anomalies;
Inspecting and testing journal entries to identify unusual or unexpected transactions
Assessing whether judgement and assumptions made in determining significant accounting estimates were indicative of management bias.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.


Page 6

 
NIELSEN-CURRAN HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF NIELSEN-CURRAN HOLDINGS LIMITED (CONTINUED)


Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Adam Dodds (Senior statutory auditor)
for and on behalf of
Barnes Roffe LLP
Chartered Accountants
Statutory Auditor
Leytonstone House
3 Hanbury Drive
Leytonstone
London
E11 1GA

10 October 2024
Page 7

 
NIELSEN-CURRAN HOLDINGS LIMITED
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JANUARY 2024

2024
2023
                                                                                                                      Note
£
£

  

Administrative expenses
  
(7,004)
(4,976)

Fair value movements
  
183,482
(103,820)

Operating profit/(loss)
  
176,478
(108,796)

Income from shares in group undertakings
  
1,474,435
759,449

Income from fixed assets investments
  
5,352
(758,572)

Revaluation of investments and profit/(loss) on disposal
  
259,601
(48,062)

Interest receivable and similar income
 6 
4,767
2,767

Profit/(loss) before taxation
  
1,920,633
(153,214)

Tax on profit/(loss)
 7 
(66,599)
354

Profit/(loss) for the financial year
  
1,854,034
(152,860)

  

Revaluation of intangible fixed assets
  
-
(16,168)

Other comprehensive income for the year
  
-
(16,168)

Total comprehensive income for the year
  
1,854,034
(169,028)

There were no recognised gains and losses for 2024 or 2023 other than those included in the statement of comprehensive income.

The notes on pages 10 to 21 form part of these financial statements.

Page 8

 
NIELSEN-CURRAN HOLDINGS LIMITED
REGISTERED NUMBER: 11693485

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
                                                                   Note
£
£

Fixed assets
  

Intangible assets
 10 
-
87,554

Investments
 11 
918,019
734,537

  
918,019
822,091

Current assets
  

Debtors: amounts falling due within one year
 12 
4,488,742
2,433,320

Cash at bank and in hand
 13 
100
454,165

  
4,488,842
2,887,485

Creditors: amounts falling due within one year
  
(203,272)
(405,791)

Net current assets
  
 
 
4,285,570
 
 
2,481,694

Total assets less current liabilities
  
5,203,589
3,303,785

Provisions for liabilities
  

Deferred taxation
 15 
(130,560)
(84,690)

  
 
 
(130,560)
 
 
(84,690)

Net assets
  
5,073,029
3,219,095


Capital and reserves
  

Called up share capital 
 16 
3
3

Profit and loss account
 17 
5,073,026
3,219,092

  
5,073,029
3,219,095


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 October 2024.



D W Curran
Director

The notes on pages 10 to 21 form part of these financial statements.
Page 9

 
NIELSEN-CURRAN HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Nielsen-Curran Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, E11 1GA.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Lillebus Holdings Limited  as at 31 January 2024 and these financial statements may be obtained from Companies House.

  
2.3

Basis of consolidation

The company is a wholly owned subsidiary company of Lillebus Holdings Limited (incorporated in England and Wales), its ultimate parent undertaking. The company is included in the consolidated financial statements of Lillebus Holdings Limited which are publicly available. The company is exempt from the requirement to prepare group accounts by virtue of section 400 of the Companies Act 2006. These financial statements therefore present information about the company as an individual undertaking and not about its Group.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 10

 
NIELSEN-CURRAN HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

  
2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
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 11

 
NIELSEN-CURRAN HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

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

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly
Page 12

 
NIELSEN-CURRAN HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.12
Financial instruments (continued)

traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are
Page 13

 
NIELSEN-CURRAN HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.12
Financial instruments (continued)

discharged or cancelled.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Auditors' remuneration

During the year, the Company obtained the following services from the Company's auditors:


2024
2023
£
£

Fees payable to the Company's auditors for the audit of the Company's financial statements
5,600
4,650

The Company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent Company.


4.


Employees






The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


5.


Income from investments

2024
2023
£
£


Income from current asset investments
5,352
877

Dividends received on investment in subsidiaries
1,474,435
759,449




Page 14

 
NIELSEN-CURRAN HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

6.


Interest receivable and similar income

2024
2023
£
£


Other interest
4,767
2,767


7.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
18,141
-

Adjustments in respect of previous periods
2,588
-


20,729
-


Total current tax
20,729
-

Deferred tax


Origination and reversal of timing differences
45,870
(354)

Total deferred tax
45,870
(354)


Taxation on profit/(loss) on ordinary activities
66,599
(354)
Page 15

 
NIELSEN-CURRAN HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
 
7.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is lower than (2023 - higher than) the standard rate of corporation tax in the UK of 25% (2023 - 19%). The differences are explained below:

2024
2023
£
£


Profit/(loss) on ordinary activities before tax
1,920,633
(167,860)


Profit/(loss) on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 19%)
480,158
(31,893)

Effects of:


Non-tax deductible amortisation of goodwill and impairment
-
147,145

Fair value movements
(45,871)
19,726

Adjustments to tax charge in respect of prior periods
2,588
-

Capital gains
-
9,130

Dividends from UK companies
(369,862)
(144,462)

Tax losses brought forward utilised
(414)
-

Total tax charge for the year
66,599
(354)


Factors that may affect future tax charges

There were no factors that may affect future tax charges.


8.


Dividends

2024
2023
£
£


Dividends paid on equity capital
100
165,000


9.


Parent company profit for the year

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements. The profit after tax of the parent Company for the year was £1,854,034 (2023 - loss £167,860).

Page 16

 
NIELSEN-CURRAN HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

10.


Intangible assets




Cryptocurrency

£





At 1 February 2023
87,554


Additions
336,715


Disposals
(424,269)



At 31 January 2024

-






Net book value



At 31 January 2024
-



At 31 January 2023
87,554




11.


Fixed asset investments





Investments in subsidiary companies
Listed investments
Total

£
£
£



Cost or valuation


At 1 February 2023
774,452
734,534
1,508,986


Additions
1
-
1


Disposals
(774,450)
-
(774,450)


Revaluations
-
183,482
183,482



At 31 January 2024

3
918,016
918,019





At 1 February 2023
774,449
-
774,449


Impairment on disposals
(774,449)
-
(774,449)



At 31 January 2024

-
-
-

Page 17

 
NIELSEN-CURRAN HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

The Estates Agent Limited
United Kingdom
Ordinary
100%
Nielsen-Curran Limited
United Kingdom
Ordinary
100%
Lillebus Limited
United Kingdom
Ordinary
100%

During the year a group reorganisation took place resulting in the group being split into two separate groups. Finders Genealogists Limited, Finders International Probate Genealogists (Ireland) Ltd, DSResearchers Limited, Heir Hunters Researchers Limited and Heir Hunters Association Limited are now 100% owned by Finders Genealogists Holdings Limited. 

Page 18

 
NIELSEN-CURRAN HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

12.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
3,476,228
2,187,287

Other debtors
1,012,514
246,033

4,488,742
2,433,320



13.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
100
454,165



14.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
-
295,791

Corporation tax
18,171
-

Other creditors
180,001
110,000

Accruals and deferred income
5,100
-

203,272
405,791


Page 19

 
NIELSEN-CURRAN HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

15.


Deferred taxation




2024
2023


£

£






At beginning of year
84,690
85,044


Charged to profit or loss
45,870
(354)



At end of year
130,560
84,690

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Deferred taxation on revaluation of listed investments
130,560
84,690

130,560
84,690


16.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



3 (2023 - 3) Ordinary shares of £1.00 each
3
3



17.


Reserves

Profit and loss account

The profit and loss account consists of distributable reserves and non-distributable reserves. The distributable reserves represent cumulative historical profits and losses net of dividends and the repayment of capital. The non-distributable reserve of £391,680 (2023 - £272,259) is used to record increases in the fair value of intangible fixed assets and fixed asset investments and increases to the extent that such increase relates to an increase on the same asset.

Page 20

 
NIELSEN-CURRAN HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

18.


Related party transactions

The company has taken advantage of the exemption, under FRS 102 paragraph 1.12 and paragraph 33.1A from disclosing transactions with key management and from disclosing other related party transactions as they are with other companies that are wholly owned within the group. 
Included within other debtors are amounts owed of £723,392 
(2023 - £Nil) to companies under common control.
Included within other creditors are amounts owed to companies under common control of £180,000 
(2023 - £295,791).
Included within other debtors are amounts owed from the directors of £252,398 
(2023 - £184,353). Interest has been charged at HMRC's offical rate.
During the prior year the directors had an interest in dividends of £165,000.


19.


Controlling party

The ultimate parent undertaking is Lillebus Holdings Limited, a company incorporated in England, Lillebus Holdings Limited  prepares consolidated accounts which include this company, copies of which can be obtained from Companies House.
The company considers Mr D W Curran to be the ultimate controlling party.

 
Page 21