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Registered number: 03501521









FINDERS GENEALOGISTS LIMITED









ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

 
FINDERS GENEALOGISTS LIMITED
 
 
COMPANY INFORMATION


Directors
S Wall 
N C Richards 




Registered number
03501521



Registered office
Ground Floor
6-8 Vestry Street

London

N1 7RE




Independent auditors
Barnes Roffe Audit Limited
Chartered Accountants & Statutory Auditor

Level 41A

Tower 42

25 Old Broad Street

London

EC2N 1HQ





 
FINDERS GENEALOGISTS LIMITED
 

CONTENTS



Page
Strategic Report
 
1 - 3
Directors' Report
 
4 - 5
Independent Auditors' Report
 
6 - 9
Statement of Comprehensive Income
 
10
Balance Sheet
 
11
Statement of Changes in Equity
 
12
Notes to the Financial Statements
 
13 - 27


 
FINDERS GENEALOGISTS LIMITED
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 31 JANUARY 2026

Introduction
 
Founded in 1997, Finders Genealogists Limited, ‘Finders International’ has grown from a small UK-based firm into one of the world’s most respected probate genealogy companies, assisting legal professionals, the public sector, and private individuals in tracing missing heirs, locating assets, and resolving complex estate matters across the globe.

Finders International combines speed, accuracy, and professionalism to deliver accurate and reliable results. The dedicated team of expert genealogists and researchers operates worldwide, using advanced tools and vast networks to solve even the most challenging cases. The Company offers transparent, risk-free pricing options including contingency based services, acting as a trusted partner to its network.

On 24 May 2024, the Company underwent a change in ownership after India Topco Limited, backed by Pelican Capital LLP, acquired a 100% interest, providing both capital and strategic support to accelerate growth and drive long-term value creation.

Business review
 
The Company achieved strong revenue growth of 10%, with turnover of £11,957k (2025: £10,860k).  

This growth reflects the successful execution of strategic initiatives, including continued investment in technology, a focus on building and maintaining strong professional networks, and an unwavering commitment to service quality.

Key drivers of growth included:

• Ongoing development and integration of proprietary technology to improve research accuracy and speed and enable process efficiencies;
• Expansion of strategic relationships across the legal, professional and public sectors;
• Reinforcement of the Company’s reputation as a reliable and ethical partner within the probate sector.

The gross profit margin for the year was 41% 
(2025: 33%), demonstrating a robust underlying business model supported by operational efficiency and client trust.

During the previous financial year, the Company incurred exceptional non-recurring costs in relation to making a provision against an intercompany loan to a subsidiary, reflecting its strategic view of the subsidiary as a core component of future operations rather than a standalone entity. 

With the effects of the COVID pandemic on the probate genealogy market now passed, the Company maintained steady operations and enhanced its market position. The directors consider the overall performance for the year to be strong and aligned with long-term objectives, with a clear foundation for future growth.

The financial position of the Company continues to be strong at the year end with a healthy cash balance, while net assets remain in excess of £2,823k.

Page 1

 
FINDERS GENEALOGISTS LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2026

Principal risks and uncertainties
 
The management of the business is subject to a number of risks. The key business risks and uncertainties are considered to relate to cyber risk and a variety of financial risks.

The Company continues to actively address cyber risk by strengthening internal controls and data security measures, supported by ongoing investment in cybersecurity infrastructure and technology.

The Company’s operations expose it to a variety of financial risks that include price risk, credit risk and liquidity risk. The Company has in place a risk management program that seeks to limit adverse effects on the financial performance of the Company.

Credit risk
 
The Company's principal financial assets consist of cash at bank and trade debtors. The Company's credit risk mainly arises from its trade debtors and is closely managed through stringent credit control procedures. However, the Company retains certain risks and rewards associated with these trade debtors. The amounts presented in the balance sheet are net of impairment and expected credit loss provision.

Liquidity risk

The cash balance at the year end was £933k which provides the Company with adequate working capital. The directors recognise the importance of funding and liquidity under the current economic climate and will continue to monitor the Company's financial resources to ensure that the Company is able to support its activities and future growth.

Strategy
 
The Company enters the new financial year with a strong platform for continued growth and operational improvement. Under new ownership, strategic focus will remain on delivering a high standard of service to clients across the probate genealogy sector, expanding market presence and driving efficiency.

A key area of investment will continue to be technology. The Company is committed to enhancing its proprietary systems and research tools to deliver greater precision and efficiency in case handling, enabling faster resolution times and improved outcomes for clients. These improvements are expected to increase internal efficiency and support scalable growth, allowing the Company to manage greater volumes while maintaining quality and compliance standards.

The market for probate genealogy services remains stable, with opportunities driven by demographic trends,steadily growing estate values, and a growing need for professional expertise in estate matters. The Company continues to strengthen its position as a trusted partner to the legal, professional, and public sectors built on a reputation for integrity, responsiveness, and high-quality service. Deepening engagement with legal professionals and expanding its referral network remain strategic priorities, alongside sustaining the high levels of reliability and discretion that underpin its work.

While external risks such as regulatory changes and competition remain, the directors are confident in the Company’s strategic direction and long-term prospects.

Page 2

 
FINDERS GENEALOGISTS LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2026

Key Financial Performance Indicators
 
The directors use a number of financial and non-financial key performance indicators to monitor and assess the Company’s performance against its strategic objectives. The principal financial KPIs during the year were as follows:

Revenue Growth: Revenue increased by 10% compared to the prior year, reflecting strong operational delivery and increased demand for services across both new and existing clients.

Gross Profit Margin: The Company achieved a gross margin of 41% (2025: 33%), consistent with its focus on maintaining service quality while improving internal efficiency.

Adjusted EBITDA Margin: The adjusted EBITDA margin was 6% (2025: 4%), reflecting the Company’s underlying profitability before exceptional costs and non-operating items. The increased margin reflects improvements in internal efficiency, alongside a continued focus on strengthening key capabilities, including business development and operational infrastructure, to support scalable growth. 

Management also tracks a number of non-financial KPIs, including client satisfaction, staff retention, case resolution timelines, volume of referrals and client concentration. 


This report was approved by the Board on 27 July 2026 and signed on its behalf.



S Wall
Director

Page 3

 
FINDERS GENEALOGISTS LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JANUARY 2026

The directors present their report and the financial statements for the year ended 31 January 2026.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The loss for the year, after taxation, amounted to £158,514 (2025 - loss £308,671).

During the year dividends of £Nil (2025 - £Nil) were declared. 

Directors

The directors who served during the year were:

S Wall 
N C Richards 

Future developments

The directors consider that the Company's strong financial position should provide a platform which is conducive to capitalising on both current and future opportunities.

Page 4

 
FINDERS GENEALOGISTS LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2026

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the directors are aware, there is no relevant audit information of which the Company's auditors are unaware, and

the directors have taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors

The auditors, Barnes Roffe Audit Limited, will be proposed for reappointment in accordance with section 485 of
the Companies Act 2006.

This report was approved by the Board on 27 July 2026 and signed on its behalf.
 





S Wall
Director

Page 5

 
FINDERS GENEALOGISTS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FINDERS GENEALOGISTS LIMITED
 

Opinion


We have audited the financial statements of Finders Genealogists Limited (the 'Company') for the year ended 31 January 2026, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 31 January 2026 and of its loss for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Page 6

 
FINDERS GENEALOGISTS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FINDERS GENEALOGISTS LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and  our Auditors' Report thereon.  The directors are responsible for the other information contained within the Annual Report.  Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated.  If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves.  If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 4, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Page 7

 
FINDERS GENEALOGISTS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FINDERS GENEALOGISTS LIMITED (CONTINUED)


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

Ensuring that the engagement team collectively had the appropriate competence, capabilities and skills to identify non-compliance with applicable laws and regulations;

We identified the laws and regulations applicable to the company through discussions with directors, and from our commercial knowledge and experience of the relevant sector;

The specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, are as follows - Companies Act 2006. FRS 102, Employment legislation and Tax legislation;

We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence;

Laws and regulations were communicated within the audit team at the planning meeting, and the audit team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and 

Considering the internal controls in place to mitigate risks of fraud and non- compliance with laws and regulations;

Reviewing the financial statements and testing the disclosures against supporting documentation;

Performing analytical procedures to identify any unusual or unexpected trends or anomalies;

Inspecting and testing journal entries to identify unusual or unexpected transactions;

Assessing whether judgement and assumptions made in determining significant accounting estimates were indicative of management bias.
 
Page 8

 
FINDERS GENEALOGISTS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FINDERS GENEALOGISTS LIMITED (CONTINUED)




A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.


Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Adam Dodds (Senior Statutory Auditor)
for and on behalf of
Barnes Roffe Audit Limited
Chartered Accountants
Statutory Auditor
Level 41A
Tower 42
25 Old Broad Street
London
EC2N 1HQ

28 July 2026
Page 9

 
FINDERS GENEALOGISTS LIMITED
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JANUARY 2026

2026
2025
                                                                                                                     Note
£
£

  

Turnover
 4 
11,957,272
10,860,183

Cost of sales
  
(7,093,329)
(7,260,716)

Gross profit
  
4,863,943
3,599,467

Administrative expenses
  
(5,038,266)
(3,830,836)

Exceptional administrative expenses
 11 
-
(134,368)

Operating loss
 5 
(174,323)
(365,737)

Interest receivable and similar income
 9 
1,671
23,621

Loss before tax
  
(172,652)
(342,116)

Tax on loss
 10 
14,138
33,445

Loss for the financial year
  
(158,514)
(308,671)

Other comprehensive income for the year
  

Total comprehensive income for the year
  
(158,514)
(308,671)

The notes on pages 13 to 27 form part of these financial statements.

Page 10

 
FINDERS GENEALOGISTS LIMITED
REGISTERED NUMBER: 03501521

BALANCE SHEET
AS AT 31 JANUARY 2026

2026
2025
                                                                        Note
£
£

Fixed assets
  

Intangible assets
 12 
713,815
171,833

Tangible assets
 13 
139,881
120,059

Investments
 14 
180,085
180,085

  
1,033,781
471,977

Current assets
  

Debtors: amounts falling due within one year
 15 
2,494,659
2,801,960

Cash at bank and in hand
 16 
932,893
1,639,648

  
3,427,552
4,441,608

Creditors: amounts falling due within one year
 17 
(1,602,993)
(1,901,686)

Net current assets
  
 
 
1,824,559
 
 
2,539,922

Total assets less current liabilities
  
2,858,340
3,011,899

Provisions for liabilities
  

Deferred tax
 18 
(34,970)
(30,015)

  
 
 
(34,970)
 
 
(30,015)

Net assets
  
2,823,370
2,981,884


Capital and reserves
  

Called up share capital 
 19 
100
100

Profit and loss account
 20 
2,823,270
2,981,784

  
2,823,370
2,981,884


The financial statements were approved and authorised for issue by the Board and were signed on its behalf on 27 July 2026.




S Wall
Director

The notes on pages 13 to 27 form part of these financial statements.

Page 11

 
FINDERS GENEALOGISTS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2026


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 February 2024
100
3,290,455
3,290,555



Loss for the year
-
(308,671)
(308,671)



At 1 February 2025
100
2,981,784
2,981,884



Loss for the year
-
(158,514)
(158,514)


At 31 January 2026
100
2,823,270
2,823,370


The notes on pages 13 to 27 form part of these financial statements.

Page 12

 
FINDERS GENEALOGISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026

1.


General information

Finders Genealogists Limited is a private company limited by shares incorporated in England and Wales. The registered office is Ground Floor, 6-8 Vestry Street, London, N1 7RE. 

The principal activity of the Company is that of genealogist services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of India Topco Limited as at 31 January 2026 and these financial statements may be obtained from Companies House.

 
2.3

Exemption from preparing consolidated financial statements

The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.

This information is included in the consolidated financial statements of India Topco Limited as at 31 January 2026 and these financial statements may be obtained from Companies House.

Page 13

 
FINDERS GENEALOGISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026

2.Accounting policies (continued)

 
2.4

Going concern

The directors have considered internal forecasts and working capital requirements and have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. On this basis the directors consider that the going concern basis of accounting remains appropriate.

 
2.5

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
reducing balance
Computer equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 14

 
FINDERS GENEALOGISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026

2.Accounting policies (continued)

  
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost on an actual receipts basis, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of
Page 15

 
FINDERS GENEALOGISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026

2.Accounting policies (continued)


2.11
Financial instruments (continued)

financial instruments.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. 

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.14

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.15

Interest income

Interest income is recognised in profit or loss on an accruals basis.

Page 16

 
FINDERS GENEALOGISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026

2.Accounting policies (continued)

 
2.16

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.17

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.18

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

Page 17

 
FINDERS GENEALOGISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026

2.Accounting policies (continued)

 
2.19

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical judgments in applying the entity’s accounting policies

No significant judgments have had to be made by management in preparing these financial statements.

Critical accounting estimates and assumptions

(i) Long-term contracts

Profit on contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty.

(ii) Useful economic lives of tangible assets and intangible assets

The annual depreciation charge for tangible assets and intangible assets are sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 13 for the carrying amount of the property plant and equipment, note 12 for the carrying amount of intangible fixed assets, note 2.6 and note 2.7 for the useful economic lives for each class of assets.

(iii) Impairment of debtors
The Company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. See note 15 for the net carrying amount of the debtors.


4.


Turnover

The whole of the turnover is attributable to the principal activities of the business.

An analysis of turnover by geographical area is not given as, in the opinion of the directors, such disclosure would be seriously prejudicial to the interest of the company.

Page 18

 
FINDERS GENEALOGISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026

5.


Operating loss

The operating loss is stated after charging:

2026
2025
£
£

Exchange differences
43,251
(3,267)

Depreciation on tangible fixed assets
52,128
49,966

Amortisation on intangible fixed assets
151,011
71,816

Defined contribution pension costs
180,045
143,804

Other operating lease rentals
250,869
243,312


6.


Auditors' remuneration

During the year, the Company obtained the following services from the Company's auditors:


2026
2025
£
£

Fees payable to the Company's auditors for the audit of the Company's financial statements
11,500
5,200

The Company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent Company.


7.


Employees

Staff costs, including directors' remuneration, were as follows:


2026
2025
£
£

Wages and salaries
5,875,143
4,758,808

Social security costs
751,092
514,100

Cost of defined contribution scheme
180,045
143,804

6,806,280
5,416,712


The average monthly number of employees, including the directors, during the year was as follows:


        2026
        2025
            No.
            No.







Employees
141
126

Page 19

 
FINDERS GENEALOGISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026

8.


Directors' remuneration

2026
2025
£
£

Directors' emoluments
311,538
195,518

Company contributions to defined contribution pension schemes
12,450
6,429

323,988
201,947


During the year retirement benefits were accruing to 2 directors (2025 - 2) in respect of defined contribution pension schemes.

The highest paid director received remuneration of £167,800 (2025 - £117,375).

The value of the Company's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £6,450 (2025 - £4,429).




9.


Interest receivable

2026
2025
£
£


Other interest receivable
1,671
23,621


10.


Taxation


2026
2025
£
£

Corporation tax


Current tax on profits for the year
(19,093)
(44,259)


(19,093)
(44,259)


Total current tax
(19,093)
(44,259)

Deferred tax


Origination and reversal of timing differences
4,955
10,814

Page 20

 
FINDERS GENEALOGISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
 
10.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is higher than (2025 - higher than) the standard rate of corporation tax in the UK of 25% (2025 - 25%). The differences are explained below:

2026
2025
£
£


Loss on ordinary activities before tax
(172,652)
(342,116)


Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2025 - 25%)
(43,163)
(85,529)

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
41,240
56,102

Capital allowances for year in excess of depreciation
(178,204)
(26,419)

Utilisation of tax losses
-
50,332

Adjustments to tax charge in respect of prior periods
(19,093)
(44,259)

Other timing differences leading to an increase/(decrease) in taxation
4,955
10,814

Unrelieved tax losses carried forward
180,127
5,676

Group relief
-
(162)

Total tax charge for the year
(14,138)
(33,445)


Factors that may affect future tax charges

There were no factors that may affect future tax charges.


11.


Exceptional items

2026
2025
£
£


Provision against intercompany debtor
-
134,368

Page 21

 
FINDERS GENEALOGISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026

12.


Intangible assets




Domains
Website and software development
Total

£
£
£



Cost


At 1 February 2025
7,500
537,554
545,054


Additions
-
692,993
692,993



At 31 January 2026

7,500
1,230,547
1,238,047



Amortisation


At 1 February 2025
-
373,221
373,221


Charge for the year on owned assets
-
151,011
151,011



At 31 January 2026

-
524,232
524,232



Net book value



At 31 January 2026
7,500
706,315
713,815



At 31 January 2025
7,500
164,333
171,833



Page 22

 
FINDERS GENEALOGISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026

13.


Tangible fixed assets


Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 February 2025
163,497
264,528
428,025


Additions
3,100
68,850
71,950



At 31 January 2026

166,597
333,378
499,975



Depreciation


At 1 February 2025
138,483
169,483
307,966


Charge for the year on owned assets
6,866
45,262
52,128



At 31 January 2026

145,349
214,745
360,094



Net book value



At 31 January 2026
21,248
118,633
139,881



At 31 January 2025
25,014
95,045
120,059

Page 23

 
FINDERS GENEALOGISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026

14.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 February 2025
180,085



At 31 January 2026
180,085





Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

Finders International Probate Genealogists (Ireland) Limited
Ireland
Ordinary
100%
DSResearchers Limited
UK
Ordinary
100%
Heir Hunters Association Limited
UK
Ordinary
100%
Heir Hunters Researchers Limited
UK
Ordinary
100%

Page 24

 
FINDERS GENEALOGISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026

15.


Debtors

2026
2025
£
£


Trade debtors
636,001
754,361

Amounts owed by group undertakings
1,409,187
1,482,786

Other debtors
8,947
51,293

Prepayments and accrued income
239,293
278,181

Amounts recoverable on long-term contracts
201,231
235,339

2,494,659
2,801,960



16.


Cash and cash equivalents

2026
2025
£
£

Cash at bank and in hand
932,893
1,639,648



17.


Creditors: Amounts falling due within one year

2026
2025
£
£

Trade creditors
167,199
379,980

Amounts owed to group undertakings
54,491
12,867

Other taxation and social security
589,348
552,681

Other creditors
432,119
751,738

Accruals and deferred income
359,836
204,420

1,602,993
1,901,686


Page 25

 
FINDERS GENEALOGISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026

18.


Deferred taxation




2026
2025


£

£






At beginning of year
30,015
19,201


Charged to profit or loss
4,955
10,814



At end of year
34,970
30,015

The provision for deferred taxation is made up as follows:

2026
2025
£
£


Accelerated capital allowances
34,970
30,015


19.


Share capital

2026
2025
£
£
Allotted, called up and fully paid



100 (2025 - 100) Ordinary shares of £1.00 each
100
100



20.


Reserves

Profit and loss account

The Profit and Loss account consists of distributable reserves arising from cumulative historical profits
and losses net of dividends and other adjustments.


21.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £180,045 (2025 - £143,804). Contributions totalling £32,051 (2025 - £26,950) were payable to the fund at the balance sheet date and are included in creditors. 

Page 26

 
FINDERS GENEALOGISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026

22.


Commitments under operating leases

At 31 January 2026 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2026
2025
£
£


Not later than 1 year
225,925
239,739

Later than 1 year and not later than 5 years
83,604
296,298

309,529
536,037


23.


Related party transactions

The Company has taken advantage of the exemption, under FRS 102 paragraph 1.12 and paragraph 33.1A from disclosing transactions with key management and from disclosing other related party transactions as they are with other companies that are wholly owned within the group. 


24.


Controlling party

The Company’s ultimate parent undertaking is India Topco Limited. 88.3% of India Topco Limited's share capital is legally owned by Project Iguazu Nominees Limited. Project Iguazu Nominees Limited is a non trading nominee entity that holds shares on trust for underlying investors. Pelican Capital LLP is considered to be the ultimate controlling party by virtue of its contractual relationships with Project Iguazu Nominees Limited and the underlying investors.

 
Page 27