Acorah Software Products - Accounts Production 16.5.460 false true true 31 January 2024 1 February 2023 false 1 February 2024 31 January 2025 31 January 2025 07486572 Mr Leon Harris Mr David Hewitson Mr Colin King iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07486572 2024-01-31 07486572 2025-01-31 07486572 2024-02-01 2025-01-31 07486572 frs-core:CurrentFinancialInstruments 2025-01-31 07486572 frs-core:Non-currentFinancialInstruments 2025-01-31 07486572 frs-core:FurnitureFittings 2025-01-31 07486572 frs-core:FurnitureFittings 2024-02-01 2025-01-31 07486572 frs-core:FurnitureFittings 2024-01-31 07486572 frs-core:PlantMachinery 2025-01-31 07486572 frs-core:PlantMachinery 2024-02-01 2025-01-31 07486572 frs-core:PlantMachinery 2024-01-31 07486572 frs-core:WithinOneYear 2025-01-31 07486572 frs-core:SharePremium 2025-01-31 07486572 frs-core:ShareCapital 2025-01-31 07486572 frs-core:RetainedEarningsAccumulatedLosses 2025-01-31 07486572 frs-bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 07486572 frs-bus:FilletedAccounts 2024-02-01 2025-01-31 07486572 frs-bus:SmallEntities 2024-02-01 2025-01-31 07486572 frs-bus:AuditExempt-NoAccountantsReport 2024-02-01 2025-01-31 07486572 frs-bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 07486572 frs-core:UnlistedNon-exchangeTraded 2025-01-31 07486572 frs-core:UnlistedNon-exchangeTraded 2024-01-31 07486572 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-01-31 07486572 frs-core:AdditionsToInvestments frs-core:UnlistedNon-exchangeTraded 2025-01-31 07486572 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2025-01-31 07486572 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-01-31 07486572 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2025-01-31 07486572 frs-bus:Director1 2024-02-01 2025-01-31 07486572 frs-bus:Director1 2024-01-31 07486572 frs-bus:Director1 2025-01-31 07486572 frs-bus:Director2 2024-02-01 2025-01-31 07486572 frs-bus:Director3 2024-02-01 2025-01-31 07486572 frs-bus:Director3 2024-01-31 07486572 frs-bus:Director3 2025-01-31 07486572 frs-countries:EnglandWales 2024-02-01 2025-01-31 07486572 2023-01-31 07486572 2024-01-31 07486572 2023-02-01 2024-01-31 07486572 frs-core:CurrentFinancialInstruments 2024-01-31 07486572 frs-core:Non-currentFinancialInstruments 2024-01-31 07486572 frs-core:WithinOneYear 2024-01-31 07486572 frs-core:SharePremium 2024-01-31 07486572 frs-core:ShareCapital 2024-01-31 07486572 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31
Registered number: 07486572
Fenix Insight Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2025
Finerva
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 07486572
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 27,357 11,525
Investments 5 1 -
27,358 11,525
CURRENT ASSETS
Stocks 6 10,000 13,760
Debtors 7 270,198 171,252
Cash at bank and in hand 28,537 81,012
308,735 266,024
Creditors: Amounts Falling Due Within One Year 8 (548,524 ) (187,427 )
NET CURRENT ASSETS (LIABILITIES) (239,789 ) 78,597
TOTAL ASSETS LESS CURRENT LIABILITIES (212,431 ) 90,122
Creditors: Amounts Falling Due After More Than One Year 9 (4,356 ) (14,356 )
NET (LIABILITIES)/ASSETS (216,787 ) 75,766
CAPITAL AND RESERVES
Called up share capital 10 3 3
Share premium account 1,759,416 1,518,492
Profit and Loss Account (1,976,206 ) (1,442,729 )
SHAREHOLDERS' FUNDS (216,787) 75,766
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For the year ending 31 January 2025 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 directors acknowledge their 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 David Hewitson
Director
30 October 2025
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Fenix Insight Ltd is a private company,  limited by shares, incorporated in England & Wales, registered number 07486572 . The registered office is Unit 14f Borers Yard, Borers Arms Road, Capthorne, West Sussex, RH10 3LH.
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 company’s financial statements have been prepared on a going concern basis, based on the directors’ assessment that current and future sources of funding or support will be more than adequate to meet the company’s needs. The directors have a reasonable expectation that the company will continue as a going concern and will be able to meet all of its obligations as they fall due for at least 12 months from the date of approval of these financial statements.
In evaluating the company’s ability to continue as a going concern, the directors have considered various factors, including the group restructure, which has significantly reduced operating costs. Additionally, growing revenue post year-end further supports the going concern basis.
Moreover, the company’s loan facilities are being paid down rapidly, and there is no expectation of needing to extend or replace these facilities within the next 12 months. Taken together, these factors provide a solid foundation for the company's ongoing and expanding profitable business operations.
2.3. Significant judgements and estimations
The preparation of financial statements requires management to make judgements, estimates and assumptions which affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for expenses during the period. However, the nature of estimation means that actual outcomes could differ from those estimates.
In preparing these financial statements, the directors have made the following judgements:
Share option charges
FRS 102 requires the grant date fair value of share-based payments awards granted to employees and contractors to be recognised as an expense, with a corresponding increase in equity, over the period in which the employees and contractors become unconditionally entitled to the awards. Share options issued to the employees and contractors will only be exercised on an exit event. At the date of these financial statements management has determined that an exit event is not probable and therefore no share-based payment charges have been recorded in these financial statements.
2.4. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the  significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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.
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2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.  Depreciation  is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer equipment over 5 years on a straight line basis
Fixtures & Fittings over 5 years on a straight line basis
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.   Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Financial Instruments
Trade and other debtors / creditors
Trade and other debtors are recognised initially at transaction prices less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.
Investments
Investments in subsidiaries are held at cost less accumulated impairment losses.
Impairment of financial assets
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised within profit or loss.
For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset’s carrying amount and the best estimate of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.
2.8. 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.
2.9. Taxation
Income tax expense represents the sum of the tax currently payable.
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 year 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.
Current or deferred tax for the year is recognised in profit or loss.
2.10. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable  in accordance with the rules of the scheme.
2.11. Preparation of consolidated accounts exemption
The company is exempt under Section 399 of the Companies Act from the requirement to prepare consolidated financial statements by virtue of the fact it is subject to the small companies regime. These financial statements contain information the company as an individual undertaking and not about this group.
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3. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 16 (2024: 21)
16 21
4. Tangible Assets
Computer equipment Fixtures & Fittings Total
£ £ £
Cost
As at 1 February 2024 23,281 14,386 37,667
Additions 20,815 - 20,815
Disposals (2,635 ) - (2,635 )
As at 31 January 2025 41,461 14,386 55,847
Depreciation
As at 1 February 2024 11,756 14,386 26,142
Provided during the period 4,031 - 4,031
Disposals (1,683 ) - (1,683 )
As at 31 January 2025 14,104 14,386 28,490
Net Book Value
As at 31 January 2025 27,357 - 27,357
As at 1 February 2024 11,525 - 11,525
5. Investments
Unlisted
£
Cost or Valuation
As at 1 February 2024 -
Additions 1
As at 31 January 2025 1
Provision
As at 1 February 2024 -
As at 31 January 2025 -
Net Book Value
As at 31 January 2025 1
As at 1 February 2024 -
6. Stocks
2025 2024
£ £
Finished goods 10,000 10,000
Work in progress - 3,760
10,000 13,760
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7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 61,884 115,521
Other debtors 208,314 55,731
270,198 171,252
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 43,885 19,973
Bank loans and overdrafts 10,644 10,644
Other loans 267,420 -
Other creditors 226,575 156,810
548,524 187,427
Included in Other creditors is £82,880 (2024: £86,037) of Deferred Income.
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 4,356 14,356
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 3 3
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2025 2024
£ £
Not later than one year 21,355 5,339
21,355 5,339
12. Pension Commitments
The company operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £5,745 (2024: £3,885) were due to the fund.  They are included in Other Creditors.
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13. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 February 2024 Amounts advanced Amounts repaid Amounts written off As at 31 January 2025
£ £ £ £ £
Mr David Hewitson 3,651 - - - 3,651
Mr Colin King 4,558 - - - 4,558
The above loan is unsecured, interest free and repayable on demand.
14. Related Party Transactions
During the year, the Company paid a total of £11,515 (2024: £11,250) to a company controlled by Mr C. King, who is also a director and shareholder of Fenix Insight Ltd. These transactions were made on agreed terms. The balance due from this company at 31 January 2025 was £Nil (2024: £540).
The Company also incurred expenses amounting to £6,404 (2024: £Nil) on behalf of a subsidiary in which it holds an 82% interest. The full amount was provided as a bad debt as at 31 January 2025.
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