Acorah Software Products - Accounts Production 16.3.350 false true 30 November 2023 1 December 2022 false 1 December 2023 30 November 2024 30 November 2024 13771216 Mr Sami Abou Saab iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13771216 2023-11-30 13771216 2024-11-30 13771216 2023-12-01 2024-11-30 13771216 frs-core:CurrentFinancialInstruments 2024-11-30 13771216 frs-core:CapitalRedemptionReserve 2024-11-30 13771216 frs-core:ShareCapital 2024-11-30 13771216 frs-core:RetainedEarningsAccumulatedLosses 2024-11-30 13771216 frs-bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 13771216 frs-bus:FilletedAccounts 2023-12-01 2024-11-30 13771216 frs-bus:SmallEntities 2023-12-01 2024-11-30 13771216 frs-bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 13771216 frs-bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 13771216 frs-core:CurrencyRisk 2023-12-01 2024-11-30 13771216 frs-core:MarketRisk 2023-12-01 2024-11-30 13771216 frs-bus:Director1 2023-12-01 2024-11-30 13771216 frs-bus:Director1 2023-11-30 13771216 frs-bus:Director1 2024-11-30 13771216 frs-countries:EnglandWales 2023-12-01 2024-11-30 13771216 2022-11-30 13771216 2023-11-30 13771216 2022-12-01 2023-11-30 13771216 frs-core:CurrentFinancialInstruments 2023-11-30 13771216 frs-core:CapitalRedemptionReserve 2023-11-30 13771216 frs-core:ShareCapital 2023-11-30 13771216 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30
Registered number: 13771216
FA Partners Limited
Unaudited Financial Statements
For The Year Ended 30 November 2024
Oxwich Accountancy Limited
ICAEW member firm number C006246679
Contents
Page
Company Information 1
Accountants' Report 2
Balance Sheet 3
Notes to the Financial Statements 4—6
Page 1
Company Information
Director Mr Sami Abou Saab
Company Number 13771216
Registered Office 113 Canalside
Redhill
Surrey
RH1 2FH
Accountants Oxwich Accountancy Limited
ICAEW member firm number C006246679
113 Canalside
Redhill
Surrey
RH1 2FH
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Accountants' Report
Chartered Accountants' report to the director on the preparation of the unaudited statutory accounts of FA Partners Limited for the year ended 30 November 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of FA Partners Limited for the year ended 30 November 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the director of FA Partners Limited , as a body, in accordance with the terms of our engagement letter dated 29 November 2021. Our work has been undertaken solely to prepare for your approval the accounts of FA Partners Limited and state those matters that we have agreed to state to the director of FA Partners Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than FA Partners Limited and its director, as a body, for our work or for this report.
It is your duty to ensure that FA Partners Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of FA Partners Limited . You consider that FA Partners Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of FA Partners Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Dr. Ceri Williams
10/04/2025
Oxwich Accountancy Limited
ICAEW member firm number C006246679
113 Canalside
Redhill
Surrey
RH1 2FH
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Balance Sheet
Registered number: 13771216
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 621,518 55,401
Cash at bank and in hand 167,651 48,346
789,169 103,747
Creditors: Amounts Falling Due Within One Year 5 (544,253 ) (360,323 )
NET CURRENT ASSETS (LIABILITIES) 244,916 (256,576 )
TOTAL ASSETS LESS CURRENT LIABILITIES 244,916 (256,576 )
NET ASSETS/(LIABILITIES) 244,916 (256,576 )
CAPITAL AND RESERVES
Called up share capital 6 1 3
Capital redemption reserve 2 -
Profit and Loss Account 244,913 (256,579 )
SHAREHOLDERS' FUNDS 244,916 (256,576)
For the year ending 30 November 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 Sami Abou Saab
Director
11/04/2025
The notes on pages 4 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
FA Partners Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13771216 . The registered office is 113 Canalside, Redhill, Surrey, RH1 2FH.
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. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Financial Instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and nonputtable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. 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: 2)
1 2
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4. Debtors
2024 2023
£ £
Due within one year
Trade debtors 285,361 54,708
Prepayments and accrued income 335,971 471
VAT 186 154
Net wages - 68
621,518 55,401
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 115,677 41,906
Bank loans and overdrafts 1 -
Corporation tax 12,333 -
Other creditors - 308,389
Accruals and deferred income 415,951 8,405
Director's loan account 291 1,623
544,253 360,323
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 3
During the year an equity forward agreement was exercised, with new shares issued at the contractual price of the forward agreement. Shareholders subsequently agreed by special resolution to convert share premium to distributable reserves.
The company subsequently bought back shares held by all investors, with the exception of the current director who became the sole shareholder. Shares were bought back at par value, with the exception of shares held by a former director, which were repurchased by the company for USD 30,000. Repurchased shares were immediately cancelled.
7. Financial Instruments
Included within other creditors in the prior year comparatives was a derivative contract giving contract holders the rights to receive equity in the company at a future date, in return for an upfront cash payment.
Under certain circumstances, the contract creates a liability to deliver a variable number of shares and at a variable maturity date. As such the option does not meet the definition to recognise it as an equity instrument and has been recognised as a derivative financial liability. 
As the company's equity is not publicly traded, this derivative was measured at cost on inception. 
Fair value measured at the subsequent balance sheet date was equal to the value on inception. The instrument derives its value from the company's own equity. This is not publicly traded and, having reviewed the company's circumstances, the directors judged that the best available reliable measurement of fair value was the initial transaction price. Accordingly, the amount taken through the P&L was £nil.
During the year the derivative instrument was converted to equity at the contractual exercise price, resulting in share premium of £300,660.75.
8. Foreign Currency Risk
Under certain circumstances, the derivative contracts convert to equity where the number of equity instruments delivered is derived from the value of the company at the time of a future investment event, expressed in USD. As such, the contract created exposure to USDGBP foreign exchange risk. 
This exposure was eliiminated when the instruments were converted to equity.
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9. Market Risk
Under certain circumstances, the derivative contracts convert to equity where the number of equity instruments delivered is derived from the value of the company at the time of a future investment event. If there is no such investment event a fixed number of equity instruments are delivered at a fixed maturity date. 
As such, the fair value of the derivative instrument depends on the value of the company's own equity. If an invesment event occurs before the contractual maturity, a gain or loss may occur if the number of equity instruments determined by the conversion formula is less than or greater than the fixed number that would otherwise be delivered at maturity.
This exposure was eliminted when the derivatives were converted to equity.
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 December 2023 Amounts advanced Amounts repaid Amounts written off As at 30 November 2024
£ £ £ £ £
Mr Sami Abou Saab - 16,521 16,521 - -
The above loan is unsecured, interest free and repayable on demand.
Dividends paid to directors
2024 2023
£ £
Mr Sami Abou Saab 16,500 -
11. Related Party Transactions
Prior year subcontractor costs include amounts totalling £98,315.43 incurred on services provided by Company Directors (including those who resigned during the period). These services were provided while Company Directors were located overseas and the Directors are satisfied that such services were provided in accordance with local employment laws and common practice within those countries. No such subcontractor costs were incurred in the curent year.
During the current year, the company bought back shares from a former director for USD 30,000.
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