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Registration number: 07328412

Forensic Equity Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Forensic Equity Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Forensic Equity Limited

Company Information

Directors

S Franc

A M L Franc

Registered office

39 Chatsworth Avenue
Winnersh
Wokingham
Berkshire
RG41 5EU

Accountants

Tax Innovations Limited
Innovations House
19 Staple Gardens
Winchester
Hampshire
SO23 8SR

 

Forensic Equity Limited

(Registration number: 07328412)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

40,902

62,054

Current assets

 

Debtors

5

2,139,736

1,772,705

Cash at bank and in hand

 

465,482

545,337

 

2,605,218

2,318,042

Creditors: Amounts falling due within one year

6

(642,620)

(401,978)

Net current assets

 

1,962,598

1,916,064

Net assets

 

2,003,500

1,978,118

Capital and reserves

 

Called up share capital

7

102

102

Retained earnings

2,003,398

1,978,016

Shareholders' funds

 

2,003,500

1,978,118

 

Forensic Equity Limited

(Registration number: 07328412)
Balance Sheet as at 31 January 2024

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 October 2024 and signed on its behalf by:
 

.........................................
S Franc
Director

 

Forensic Equity Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
39 Chatsworth Avenue
Winnersh
Wokingham
Berkshire
RG41 5EU
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity; and
- specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Forensic Equity Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

Straight line at 25%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Forensic Equity Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 7).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

204,442

204,442

Additions

4,050

4,050

At 31 January 2024

208,492

208,492

Depreciation

At 1 February 2023

142,388

142,388

Charge for the year

25,202

25,202

At 31 January 2024

167,590

167,590

Carrying amount

At 31 January 2024

40,902

40,902

At 31 January 2023

62,054

62,054

 

Forensic Equity Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

552,399

467,942

Amounts owed by related parties

8

1,581,559

1,295,995

Other debtors

 

5,778

8,768

   

2,139,736

1,772,705

 

Forensic Equity Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

82,267

120,176

Taxation and social security

155,381

111,788

Accruals and deferred income

2,000

2,000

Other creditors

402,972

168,014

642,620

401,978

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

Ordinary B of £1 each

100

100

100

100

102

102

102

102

8

Related party transactions

Transactions with directors

2024

At 1 February 2023
£

Other payments made to company by director
£

At 31 January 2024
£

A M L Franc

Provision of a working capital loan with no interest or fixed rate of repayment

23,711

-

23,711

S Franc

Provision of a working capital loan with no interest or fixed date of repayment

131,007

199,865

330,872

 

Forensic Equity Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

2023

At 1 February 2022
£

Other payments made to company by director
£

At 31 January 2023
£

A M L Franc

Provision of a working capital loan with no interest or fixed rate of repayment

23,711

-

23,711

S Franc

Provision of a working capital loan with no interest or fixed date of repayment

27,895

103,112

131,007

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

860,425

937,675

Summary of transactions with entities with joint control or significant interest

Quatervois Limited
Kulpa Limited

 (Companies controlled by the same controlling party)
 Provision of a working capital loan with no interest or fixed date of repayment.
 

Income and receivables from related parties

2024

Entities with joint control or significant influence
£

Amounts receivable from related party

1,581,559

2023

Entities with joint control or significant influence
£

Amounts receivable from related party

1,295,995

 

Forensic Equity Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

9

Parent and ultimate parent undertaking

The ultimate controlling party is S Franc.