Acorah Software Products - Accounts Production 16.0.110 false true true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 09944830 Mr Henrik Hojgaard iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09944830 2023-01-31 09944830 2024-01-31 09944830 2023-02-01 2024-01-31 09944830 frs-core:CurrentFinancialInstruments 2024-01-31 09944830 frs-core:Non-currentFinancialInstruments 2024-01-31 09944830 frs-core:RevaluationReserve 2023-02-01 2024-01-31 09944830 frs-core:RevaluationReserve 2023-01-31 09944830 frs-core:RevaluationReserve 2024-01-31 09944830 frs-core:ShareCapital 2024-01-31 09944830 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 09944830 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 09944830 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 09944830 frs-bus:SmallEntities 2023-02-01 2024-01-31 09944830 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 09944830 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 09944830 frs-bus:Director1 2023-02-01 2024-01-31 09944830 frs-countries:EnglandWales 2023-02-01 2024-01-31 09944830 2022-01-31 09944830 2023-01-31 09944830 2022-02-01 2023-01-31 09944830 frs-core:CurrentFinancialInstruments 2023-01-31 09944830 frs-core:Non-currentFinancialInstruments 2023-01-31 09944830 frs-core:RevaluationReserve 2023-01-31 09944830 frs-core:ShareCapital 2023-01-31 09944830 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 09944830
Fornax Capital Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
Inchmead Accountants
100 Berkshire Place
Winnersh
Wokingham
RG41 5RD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 09944830
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 520,599 272,305
Investments 5 14,775,336 13,274,336
15,295,935 13,546,641
Creditors: Amounts Falling Due Within One Year 6 (70,688 ) (70,688 )
NET CURRENT ASSETS (LIABILITIES) 15,225,247 13,475,953
TOTAL ASSETS LESS CURRENT LIABILITIES 15,225,247 13,475,953
Creditors: Amounts Falling Due After More Than One Year 7 (8,179,612 ) (7,638,314 )
NET ASSETS 7,045,635 5,837,639
CAPITAL AND RESERVES
Called up share capital 8 10,000 10,000
Revaluation reserve 9 8,493,069 6,992,069
Profit and Loss Account (1,457,434 ) (1,164,430 )
SHAREHOLDERS' FUNDS 7,045,635 5,837,639
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 director acknowledges his 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 Henrik Hojgaard
Director
20 November 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Fornax Capital Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09944830 . The registered office is Inchmead Suite, 100 Berkshire Place, Winnersh, Wokingham, RG41 5RD.
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 directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Significant judgements and estimations
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
2.4. 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 34,786 69,572
Due after more than one year
Deferred tax current asset 485,813 202,733
520,599 272,305
Page 3
Page 4
5. Current Asset Investments
2024 2023
£ £
Unlisted investments 14,775,336 13,274,336
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1 1
Director's loan account 70,687 70,687
70,688 70,688
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bills of exchange 8,179,612 7,638,314
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10,000 10,000
9. Reserves
Revaluation Reserve
£
As at 1 February 2023 6,992,069
Surplus on revaluation 1,501,000
As at 31 January 2024 8,493,069
Page 4