Registration number:
Boca U.K. Holding Limited
for the Year Ended 30 April 2024
Pages for filing with Registrar
Boca U.K. Holding Limited
Contents
Company Information |
|
Balance Sheet |
|
Notes to the Financial Statements |
Boca U.K. Holding Limited
Company Information
Directors |
J Kuai R Rozek T Goodes C Mcaloney |
Company secretary |
T Goodes |
Registered office |
|
Registered number |
08650905 |
Auditors |
|
Boca U.K. Holding Limited
(Registration number: 08650905)
Balance Sheet as at 30 April 2024
Note |
2024 |
2023 |
|
Fixed assets |
|||
Investments |
- |
- |
|
Current assets |
|||
Debtors |
821 |
449 |
|
Creditors: Amounts falling due within one year |
(724) |
(363) |
|
Net current assets |
97 |
86 |
|
Net assets |
97 |
86 |
|
Capital and reserves |
|||
Called up share capital |
82,983 |
82,983 |
|
Share premium reserve |
4,237 |
4,237 |
|
Other reserves |
15,405 |
15,405 |
|
Profit and loss account |
(102,527) |
(102,538) |
|
Total equity |
97 |
86 |
Approved and authorised for issue by the
.........................................
Company secretary and director
Boca U.K. Holding Limited
Notes to the Financial Statements for the Year Ended 30 April 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
The company is an intermediate holding company for the Korn Ferry group.
Accounting policies |
Summary of significant accounting policies
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 periods presented.
Statement of compliance
These financial statements were prepared in accordance with the provisions of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with FRS102, the company has taken advantage of the exemptions from the following disclosure requirements:
- Section 7 'Statement of cash flows' - presentation of a Statement of Cash Flows and related notes and disclosures
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £000.
Boca U.K. Holding Limited
Notes to the Financial Statements for the Year Ended 30 April 2024 (continued)
2 |
Accounting policies (continued) |
Going concern
The directors have prepared the financial statements on a going concern basis, which assumes that the company will have sufficient financial resources in order to meet its liabilities for a period of at least 12 months from the date of approving these financial statements. The company relies on the support of the wider group headed by Korn Ferry. Korn Ferry has confirmed that it will continue to provide the support the company requires so that the company can meet its liabilities as they fall due.
Based on the support provided by the parent undertaking, and taking into consideration the financial position of the company and wider group, the directors consider it appropriate to prepare the financial statements on a going concern basis.
Group accounts not prepared
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Foreign exchange gains and losses are taken to the profit and loss account and classified within Administrative expenses.
Tax
The tax expense represents the sum of the current tax expense and deferred tax expense. 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.
Boca U.K. Holding Limited
Notes to the Financial Statements for the Year Ended 30 April 2024 (continued)
2 |
Accounting policies (continued) |
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Goodwill
Goodwill arising on the acquisition of a business represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the business recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class
|
Amortisation method and rate |
Investments
Subsidiaries are measured at cost less impairment.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Amounts due from group undertakings
Amounts due from group undertakings are repayable on demand and are therefore shown at
transaction value.
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. Capital investments in the company by its parent company, other than those for shares, are credited to a capital contribution reserve.
Boca U.K. Holding Limited
Notes to the Financial Statements for the Year Ended 30 April 2024 (continued)
2 |
Accounting policies (continued) |
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates
and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet
date and the amounts reported for expenses during the year. However, the nature of estimation
means that actual outcomes could differ from the those estimates. There have been no judgements
that have had a significant effect on amounts recognised in the financial statements.
Staff costs |
The average number of persons employed by the company (including directors) during the year, was
Auditors' remuneration |
2024 |
2023 |
|
Audit of the financial statements |
|
|
Intangible fixed assets |
Goodwill |
|
Cost |
|
At 1 May 2023 |
|
At 30 April 2024 |
|
Amortisation |
|
At 1 May 2023 |
|
At 30 April 2024 |
|
Carrying amount |
|
At 30 April 2024 |
- |
At 30 April 2023 |
- |
Boca U.K. Holding Limited
Notes to the Financial Statements for the Year Ended 30 April 2024 (continued)
Investments in Subsidiaries |
2024 |
2023 |
Investment in subsidiaries
The above balances represent the total of the company's financial assets which are equity
instruments measured at cost less impairment.
Subsidiaries |
£ 000 |
Cost |
|
At 1 May 2023 |
|
At 30 April 2024 |
|
At 1 May 2023 |
|
Carrying amount |
|
At 30 April 2024 |
- |
At 30 April 2023 |
- |
Following the acquisition of the company by Korn Ferry in a prior period, a reorganisation of the
group’s structure was undertaken. As part of this reorganisation, many of the trading activities of
this company’s subsidiaries were transferred outside of this company’s group, to other entities in
the Korn Ferry group.
Boca U.K. Holding Limited
Notes to the Financial Statements for the Year Ended 30 April 2024 (continued)
6 |
Investments in Subsidiaries (continued) |
Details of undertakings
Details of the investments are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
2024 |
2023 |
Subsidiary undertakings |
||||
|
Level 7, 702, 124-130 Pitt Street, Sydney, NSW, 2000 |
Ordinary |
|
|
Australia |
||||
|
Level 7, 702, 124-130 Pitt Street, Sydney, NSW, 2000 |
Ordinary |
|
|
Australia |
||||
|
44 Chipman Hill Suite 1000, PO Box 7289 Stn A, Saint John, NB, E2L 4S6 |
Ordinary |
|
|
Canada |
||||
|
Prinzenallee 3, 40549 Duesseldorf, |
Ordinary |
|
|
Germany |
||||
|
Fleurystraße 7, 92224 Amberg |
Ordinary |
|
|
Germany |
||||
|
Unit No. 1/8 and 119, The Presidency, Ground Floor, St. Marks Road, Bangalore - 560001, Karnataka |
Ordinary |
|
|
India |
||||
|
111 Somerset Road, #10-06, Tripleone Somerset, Singapore (238164) |
Ordinary |
|
|
Singapore |
||||
|
Ryder Court, 14 Ryder Street, London, SW1Y 6QB |
Ordinary |
|
|
United Kingdom |
Boca U.K. Holding Limited
Notes to the Financial Statements for the Year Ended 30 April 2024 (continued)
6 |
Investments in Subsidiaries (continued) |
|
Ryder Court, 14 Ryder Street, London, SW1Y 6QB |
Ordinary |
|
|
United Kingdom |
||||
|
Ryder Court, 14 Ryder Street, London, SW1Y 6QB |
Ordinary |
|
|
United Kingdom |
Debtors: amounts falling due within one year |
2024 |
2023 |
|
Other debtors |
|
|
|
|
The above balances represent the total of the company's financial assets which are debt instruments
measured at transaction price less any impairment.
Creditors |
2024 |
2023 |
|
Amounts falling due within one year |
||
Amounts owed to group undertakings |
|
|
Other creditors |
- |
|
Accruals |
||
|
|
The balances disclosed above represent the total of the company's financial liabilities measured at
transaction price.
Reserves |
Profit and loss account
This balance represents the cumulative profit and loss made by the company net of distributions to
owners.
Capital contribution reserve
The reserve represents cumulative contributions to capital by the owners, other than investments in
share capital which are shown as such.
Boca U.K. Holding Limited
Notes to the Financial Statements for the Year Ended 30 April 2024 (continued)
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
|||
No. 000 |
£ 000 |
No. 000 |
£ 000 |
|
|
|
82,983 |
|
82,983 |
Ordinary shares have attached to them full rights in respect of voting, dividends and the receipt of a
distribution upon winding-up and they are non-redeemable.
Related party transactions |
Key management compensation
Key management received no compensation from the company for the year ended 30 April 2024 (2023 - £Nil).
Directors' remuneration
The directors received no remuneration from the company for the year ended 30 April 2024 (2023 -
£Nil).
Boca U.K. Holding Limited
Notes to the Financial Statements for the Year Ended 30 April 2024 (continued)
Financial instruments |
Categorisation of financial instruments
2024 |
2023 |
|
Financial assets measured at cost less impairment |
|
|
|
|
|
Financial liabilities measured at transaction price |
(724) |
(360) |
( |
( |
Parent and ultimate parent undertaking |
The company's immediate parent undertaking is Boca U.K. Intermediate Holdings Limited,
incorporated in the United Kingdom. The ultimate parent and controlling party is Korn Ferry,
incorporated in Delaware, USA.
The parent of both the largest and the smallest group in which these financial statements are
consolidated is Korn Ferry. The address of the principal executive office of Korn Ferry. is: 1900
Avenue of the Stars, Suite 2600, Los Angeles, California, USA.
Audit report |
As the profit and loss account has been omitted from the filing copy of the financial statements the following information is in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.
•
•
• The auditor was