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Registration number: 08650905

Boca U.K. Holding Limited

Annual Report and Financial Statements

for the Year Ended 30 April 2024

Pages for filing with Registrar

 

Boca U.K. Holding Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 11

 

Boca U.K. Holding Limited

Company Information

Directors

J Kuai

R Rozek

T Goodes

C Mcaloney

Company secretary

T Goodes

Registered office

Ryder Court
14 Ryder Street
London
SW1Y 6QB

Registered number

08650905

Auditors

Corrigan Accountants Limited 1st Floor
25 King Street
Bristol
BS1 4PB

 

Boca U.K. Holding Limited

(Registration number: 08650905)
Balance Sheet as at 30 April 2024

Note

2024
£ 000

2023
£ 000

Fixed assets

 

Investments

6

-

-

Current assets

 

Debtors

7

821

449

Creditors: Amounts falling due within one year

8

(724)

(363)

Net current assets

 

97

86

Net assets

 

97

86

Capital and reserves

 

Called up share capital

10

82,983

82,983

Share premium reserve

4,237

4,237

Other reserves

9

15,405

15,405

Profit and loss account

(102,527)

(102,538)

Total equity

 

97

86

These financial statements have been prepared and 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 for issue by the Board on 30 January 2025 and signed on its behalf by:
 

.........................................

T Goodes
Company secretary and director

 

Boca U.K. Holding Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
Ryder Court
14 Ryder Street
London
SW1Y 6QB
United Kingdom

The company is an intermediate holding company for the Korn Ferry group.

2

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

The financial statements contain information about Boca U.K. Holding Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, Korn Ferry, a company registered in Delaware, USA.

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 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
Goodwill

Amortisation method and rate
10 years straight line

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.

3

Staff costs

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Auditors' remuneration

2024
£ 000

2023
£ 000

Audit of the financial statements

5

5


 

5

Intangible fixed assets

Goodwill
 £ 000

Cost

At 1 May 2023

41,367

At 30 April 2024

41,367

Amortisation

At 1 May 2023

41,367

At 30 April 2024

41,367

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)

6

Investments in Subsidiaries

2024
£ 000

2023
£ 000

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

61,700

At 30 April 2024

61,700

At 1 May 2023

61,700

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

Miller Heiman Group (ANZ) Pty Ltd

Level 7, 702, 124-130 Pitt Street, Sydney, NSW, 2000

Ordinary

100%

100%

 

Australia

     

Achieve Forum (AUS) Australia Pty Ltd

Level 7, 702, 124-130 Pitt Street, Sydney, NSW, 2000

Ordinary

100%

100%

 

Australia

     

TwentyEighty Strategy Execution (Canada), Inc

44 Chipman Hill Suite 1000, PO Box 7289 Stn A, Saint John, NB, E2L 4S6

Ordinary

100%

100%

 

Canada

     

TwentyEighty Strategy Execution (Germany) GmbH

Prinzenallee 3, 40549 Duesseldorf,

Ordinary

100%

100%

 

Germany

     

Miller Heiman Europe GmbH

Fleurystraße 7, 92224 Amberg

Ordinary

100%

100%

 

Germany

     

ESI Performance Improvement Private Ltd

Unit No. 1/8 and 119, The Presidency, Ground Floor, St. Marks Road, Bangalore - 560001, Karnataka

Ordinary

100%

100%

 

India

     

Miller Heiman Group (Asia) Pte Ltd Pty (Singapore)

111 Somerset Road, #10-06, Tripleone Somerset, Singapore (238164)

Ordinary

100%

100%

 

Singapore

     

Achieve Forum (UK) Ltd

Ryder Court, 14 Ryder Street, London, SW1Y 6QB

Ordinary

100%

100%

 

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)

TwentyEighty Strategy Execution (UK) Ltd

Ryder Court, 14 Ryder Street, London, SW1Y 6QB

Ordinary

100%

100%

 

United Kingdom

     

Miller Heiman Group (UK) Limited

Ryder Court, 14 Ryder Street, London, SW1Y 6QB

Ordinary

100%

100%

 

United Kingdom

     

7

Debtors: amounts falling due within one year

2024
£ 000

2023
£ 000

Other debtors

821

449

821

449

The above balances represent the total of the company's financial assets which are debt instruments
measured at transaction price less any impairment.

8

Creditors

2024
£ 000

2023
£ 000

Amounts falling due within one year

Amounts owed to group undertakings

724

360

Other creditors

-

2

Accruals

724

363

The balances disclosed above represent the total of the company's financial liabilities measured at
transaction price.

9

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)

10

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No. 000

£ 000

No. 000

£ 000

Ordinary of £1 each

82,983

82,983

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.

11

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)

12

Financial instruments

Categorisation of financial instruments

2024
 £ 000

2023
 £ 000

Financial assets measured at cost less impairment

821

449

821

449

Financial liabilities measured at transaction price

(724)

(360)

(724)

(360)

13

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.

14

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 Independent Auditor's Report was unqualified.
The name of the Senior Statutory Auditor who signed the audit report on 30 January 2025 was Stuart Crisp.
• The auditor was Corrigan Accountants Limited.