Annual Report & Accounts 2009
2009
annual report
www.IDOXplc.com Contents
1 Financial and Operational Highlights
2 Chairman’s Statement
4 Chief Executive’s Report
8 Chief Financial Officer’s review
10 Board of Directors
11 Directors’ Report
15 Report on Remuneration
17 Corporate Governance Report
19 Report of the Audit Committee
20 Report of the Independent Auditors (Group)
21 Consolidated Income Statement
22 Consolidated Balance Sheet
24 Consolidated Statement of Changes in Equity
25 Consolidated Cash Flow Statement 
26 Notes to the Accounts
56 Report of the Independent Auditors (Company) 
57 Company Balance Sheet
58 Notes to the Company Financial Statement
66 IDOX plc Software and Services at a glance
68 Company Information 1 IDOX plc Annual Report and Accounts 2009
Financial and Operational Highlights
•	 	 R e v e n ue s	£ 3 2 . 2 m	(2008: £34.0m)	r e fl e c t i n g	e x t e n de d	de l i v e r y	s c h e d u l e s	
a n d	i n c r e a s e d	m i x	o f	l o n ge r	t e r m	c o n t r a c t s
•	 	 N o r m a l i s e d	p r e - t a x	p r o fi t *	£ 6 . 7 m	(2008: £7.6m)
•	 	 P r e - t a x	p r o fi t	£ 4 . 5 m	(2008: £6.6m)	a f t e r	e x c e p t i o n a l	r e s t r u c t u r i n g	a n d	
i m p a i r m e n t	c h a r ge
•	 	 N o r m a l i s e d	E P S	1 . 6 4 p	(2008: 1.70p) ,	B a s i c	E P S	1 . 0 1 p	(2008: 1.40p)
•	 	 F i n a l	d i v i de n d	p r o p o s e d	o f	0 . 1 2 p ,	m a k i n g	a	t o t a l	f o r	y e a r	o f	0 . 2 p ,	u p	
7 4 %	(2008: 0.115p)
•	 	 £ 6 . 9 m	c a s h	a t	p e r i o d	e n d,	£ 3 . 2 m	n e t	f u n d s	(2008: £1.0m)	a f t e r	£ 3 . 0 m	
de b t	r e p a y m e n t ,	m a i de n	i n t e r i m	d i v i de n d	a n d	a c q u i s i t i o n	o f	j 4 b
•	 	 W o n	a l l	t h r e e	l a r ge	c o n t r a c t s	t e n d e r e d	b y	n e w	U n i t a r y	A u t h o r i t i e s ,	
t o t a l l i n g	£ 2 . 0 m
•	 	 A w a r de d	£ 1 . 5 m	c o n t r a c t	t o	de l i v e r	S t r e a m	3	o f	S c o t t i s h	G o v e r n m e n t	
p r o j e c t	f o l l o w i n g	s u c c e s s f u l	de l i v e r y	o f	S t r e a m	2
•	 	 I m p r o v e d	e f fi c i e n c y	a f t e r	1 7 %	y e a r - o v e r - y e a r	h e ad c o u n t	r e d u c t i o n	
* Normalised pre-tax profit is derived by adding back amortisation, share option costs, exceptional restructuring costs and impairment charge.
For the year ended 31 October 2009 2 IDOX plc Annual Report and Accounts 2009
For the year ended 31 October 2009
IDOX specialises in providing document 
management, case management, 
workflow systems, content and web-based 
portals for local government needs. 
Local Authorities represent one of the 
largest sectors of Government IT spending 
in the UK, with an annual investment 
of around £4 billion, according to a 
November 2009 survey by Kable, the 
research consultancy. The market is 
characterised by long-term customer 
relationships that generate strong and 
recurring revenue streams.
As a result of its expertise in software 
development, coupled with a strong 
understanding of customer requirements 
and the rapid return on investment of 
its applications, IDOX has become a 
leading supplier to the land and property 
departments of local authorities.  The 
Group has also made substantial inroads 
into other local authority markets 
including revenues and benefits.
IDOX’s innovative solutions have given 
local authorities and other bodies the 
tools to manage information and the 
ability to connect directly with citizens 
through online portals, such as Scotland’s 
ePlanning web site.  At the same time, 
local authorities enjoy significant 
efficiency gains, enabling them to reduce 
costs while improving services. 
Capitalising on its expertise and market 
leadership, IDOX will continue to 
consolidate and advance these capabilities 
into adjacent public-sector markets and 
into the private sector by pursuing an 
organic and acquisitive approach.
The 2009 financial year saw IDOX 
strengthen its position as a leading partner 
of Local Authorities needing to improve 
services and reduce costs through the 
use of information technology.  Its core 
software and services are now used by 
338 local authorities.  The Group’s strong 
market position is reflected in the fact 
that IDOX beat significant competition 
to win contracts in all of the new 
Unitary Authorities created by the Local 
Government Review who have tendered 
for work. 
IDOX achieved its software sales targets 
for 2009, built a strong contracted order 
book, improved its qualified pipeline 
and increased its level of recurring 
revenues.  However, delays in procurement 
completions that left little time for 
implementation before the year end, 
as well as a shift towards longer-term 
managed-service contracts, meant that 
some revenues and profits could not 
prudently be booked before the end of the 
financial year. 
C h a i r m a n ’ s	S t a t e m e n t
The 2009 financial 
year saw IDOX 
strengthen its 
position as a leading 
partner of Local 
Authorities 3 IDOX plc Annual Report and Accounts 2009
Revenues fell by 5% and EBITDA 13% 
as local authorities responded to the 
challenging economic climate and delayed 
IT procurement decisions or opted for 
longer-term managed-service contracts.  
However, the 2010 financial year has 
begun well with the implementation and 
recognition of orders contracted in 2009. 
Tight cost controls and strong 
management of working capital ensured 
that the Group’s net cash position 
remained strong at £3.2m, despite the 
repayment of £3m of debt, the acquisition 
of j4b for £0.8m cash and the payment 
of a maiden interim dividend.  The Group 
proposes to pay a final dividend of 0.12 
pence. 
M a r t i n	B r o o k s
Chairman
25 January 2010
The Group proposes 
to pay a final dividend 
of 0.12 pence. 
London 
Orkney Isles 
IDOX group software 
customer
Northern Ireland
Planning Service
Shetland Isles 
Isles of Scilly 
see 
inset
I D O X	G R O U P	U k	l O C A l	A U t h O R I t y	C U S t O M E R S 4 IDOX plc Annual Report and Accounts 2009
For the year ended 31 October 2009
However, the Group increased recurring 
revenues strongly and at the end of 
the year the level of contracts awaiting 
delivery was 60% up on a like for like basis.
IDOX’s operational capability was 
stretched in the first half of the year when 
it delivered on schedule an ePlanning 
Solution for the Scottish Government 
that linked its 16 Unitary Authorities.  
The experience gained from this and the 
follow-up review of internal processes 
has already delivered improvements 
in the Group’s operating procedures 
that will lead to more efficient project 
management and better managed 
services. 
In product development, IDOX achieved 
several goals. It completed product road 
maps for its core business lines, introduced 
and enhanced computerised production 
systems using in-house Enterprise product 
technology, introduced quality initiatives 
across the company, achieved cost savings 
and successfully delivered important new 
products on time and to a higher quality 
standard.  Developments planned for 2010 
The core Software division had a good 
year, winning notable large contracts 
including the Scottish Government’s 
Stream 3 ePlanning procurement and all 
of the new Unitary Authorities created 
by the Local Government Review who 
have tendered for work in 2009, namely 
Cornwall, Shropshire, and Central 
Bedfordshire.  Helped by the launch of 
new public-access modules, Enterprise 
modules, and updates to existing 
products, IDOX increased market share 
in its core segments through competitor 
replacements in Medway, North Norfolk, 
North Kesteven and expanded its presence 
in other authorities such as Eastleigh, 
where it implemented a corporate-wide 
EDRMS solution.
The timing and mix of orders was different 
than expected, with a larger element 
coming from managed-service contracts 
spread over a number of years.  This shift, 
combined with new product releases and 
the additional requirement to hit the 
deployment timetable for Scotland Stream 
2, a complex rollout across Scotland with 
customer and third-party dependencies, 
resulted in deliveries and associated 
revenue recognition falling short of 
expectations.
C h i e f	E x e c u t i v e ’ s	R e p o r t
IDOX won notable 
large contracts 
including the Scottish 
Government’s 
Stream 3 ePlanning 
procurement
IDOX increased 
market share in its 
core segments 5 IDOX plc Annual Report and Accounts 2009
IDOX’s subscription business with its 
Bidtrack product, generated advertising 
revenues, added new technology with its 
Content Management System, added web 
publishing expertise and strengthened the 
IDOX management team.
The Group’s Recruitment business has 
suffered through layoffs and downsizing 
in all of its markets. Contract interim 
placements held up well, but there was a 
52% fall in permanent recruitment which, 
although accounting for just 1% of Group 
revenues, had a 5% impact on Group 
operating profits.  The integration of the 
team from Intelligent Resources towards 
the end of the year, has strengthened 
the Group’s position and the outlook for 
recruitment in 2010 has already started to 
improve.
S u m m a r y	a n d	O u t l o o k
The Board is confident of a good 
performance in 2010.  Although the 
Government has reiterated its commitment 
to maintain core funding at previously 
agreed levels though until 2011, local 
authorities will face growing pressure to 
improve services and reduce costs.
are designed to position IDOX as the most 
efficient and focused supplier of quality 
solutions and managed services to Local 
Government.
Demand for the Solutions business, which 
accounts for 10% of Group revenues, 
suffered from the economic downturn 
with key private and public sector projects 
being delayed or postponed indefinitely.  
The acquisition of j4b offset this to some 
extent with the completion of a major 
contract for the charities sector after 
its integration.  j4b has also augmented 
the Group increased 
recurring revenues 
strongly and at the 
end of the year the 
level of contracts 
awaiting delivery was 
60% up on a like for 
like basis. 6 IDOX plc Annual Report and Accounts 2009
For the year ended 31 October 2009
12 months to 31 October 2009
12 months to 31 October 2008
Software 78%
Solutions
10%
Recruitment
12%
Software 80%
Solutions
8%
Recruitment
12%
12 months to 31 October 2009
12 months to 31 October 2008
Software 78%
Solutions
10%
Recruitment
12%
Software 80%
Solutions
8%
Recruitment
12%
C h i e f	E x e c u t i v e ’ s	R e p o r t	c o n t ’ d
D I v I S I O N A l	A N A l y S I S :	R E v E N U E	M I X
Normalised profit/(loss) before tax (£m)
2009 2008 2007 2006 2005 2009 2008 2007
Turnover (£m)
2006 2005
13.03
20.62
34.03
32.16
14.16
(0.52)
0.20
2.50
7.60
6.70
2.90
Normalised profit/(loss) before tax (£m)
2009 2008 2007 2006 2005 2009 2008 2007
Turnover (£m)
2006 2005
13.03
20.62
34.03
32.16
14.16
(0.52)
0.20
2.50
7.60
6.70
2.90 7 IDOX plc Annual Report and Accounts 2009
For the year ended 31 October 2009
C h i e f	E x e c u t i v e ’ s	R e p o r t	c o n t ’ d
The Board expects that in the face of such 
economic pressures, local authorities will 
increasingly appreciate the rapid return 
on investment and benefits of service 
improvements that IDOX software and 
services provide at relatively little cost.
The effort IDOX invested in product 
development during the 2009 financial 
year should generate good returns 
in 2010, with existing and potential 
customers benefiting from a wider range 
of software modules, upgrades and 
enhanced offerings from the consultancy, 
recruitment and managed-services 
businesses.
The 2010 financial year has begun 
positively.  IDOX is delivering on its 
substantial contracted order book, 
converting its large pipeline of prospects 
into sales and seeing signs of recovery in 
the Solutions and Permanent Recruitment 
businesses.
R i c h a r d	k e l l e t t - C l a r k e
Chief Executive Officer 
25 January 2010 8 IDOX plc Annual Report and Accounts 2009
For the year ended 31 October 2007
The addition of j4b has augmented 
recurring revenues, which now make 
up 53% of solutions turnover which 
together with strong recurring revenues 
in the Software business, provide a solid 
foundation for the Group’s performance.
Gross margins for the Group were 77% 
(2008: 79%), reflecting a shifting mix 
within the recruitment business toward 
interim placements, which now account for 
93% of recruitment revenues (2008: 87%).  
Software margins of 85% (2008: 88%) 
were marginally reduced by additional 
costs associated with the delivery of the 
Scottish Government Stream 2 project 
and lower revenue to cover certain fixed 
external charges. 
Even after the current-year acquisition 
of j4b and a full year of costs from 
Plantech, acquired in 2008, operating costs 
were reduced by 5% to £17.4m (2008: 
£18.4m) as a result of tight cost controls, 
the completion of the integration of 
acquisitions and productivity gains.  The 
associated 17% headcount reduction since 
October 2008, resulted in an exceptional 
charge of £0.4m.  The full benefit of these 
savings will be felt in 2010.
EBITDA of £7.5m (2008: £8.6m) reflects 
the revenue decline, although it has been 
offset to some extent by operating cost 
savings.  However, EBITDA margin remains 
healthy at 23% (2008: 25%). 
Normalised pre-tax profit, excluding 
amortisation, impairment, share options 
Revenues were £32.2m (2008: £34.0m) 
reflecting extended delivery schedules on 
software contracts, an increased mix of 
longer-term maintenance and managed-
service contracts and challenging market 
conditions that affected the recruitment 
business.
The Software business, which accounts for 
78% of Group revenues, delivered £25.1m 
(2008: £27.1m), of which around 52% were 
recurring, up from 46% in the previous 
year.
Although new software sales were in 
line with management expectations, 
the revenue mix contained a higher 
proportion of maintenance and managed-
service contracts that will be recognised 
over longer periods.  In addition, there 
were a number of larger contract wins, 
including the third phase of the Scottish 
Government e-Planning project, where 
delivery and therefore revenue recognition 
extends into 2010.  As a result, the 
contracted order book increased by 60% 
year-on-year to £6.1m.
The Recruitment and Training business 
reported revenues of £3.8m (2008: £4.4m), 
reflecting the rapid deterioration in the 
employment market. 
The Solutions division increased revenue 
to £3.4m (2008: £2.6m) as a result of a 
six-month contribution from j4b, acquired 
in April 2009, which provides content to 
local authorities and other public sector 
bodies.
For the year ended 31 October 2009
C h i e f	F i n a n c i a l	O f fi c e r ’ s	r e v i e w 9 IDOX plc Annual Report and Accounts 2009
IDOX ended the year with £6.9m cash and 
net funds of £3.2m after repaying £3.0m 
of debt and funding from existing cash 
resources the £0.8m acquisition of j4b, a 
dividend payment of £0.7m and share buy 
backs of £0.2m.
Strong working capital management 
resulted in a significant decrease in debtor 
days to 47 (2008: 68). The tax charge of 
£1.0m (2008: £1.8m) reflects a reduction 
in the Group’s effective tax rate from 27% 
to 23% following recovery of prior-year 
research and development credits.
W i l l i a m	E d m o n d s o n
Chief Financial Officer
25 January 2010
costs and exceptional charges, was 
£6.7m (2008: £7.6m).  Pre-tax profit was 
£4.5m (2008: £6.6m) after an increased 
amortisation charge following the 
acquisition of j4b, the amortisation of 
capitalised Research & Development and 
the exceptional charge of £0.4m (2008: 
Nil).  In addition there was a goodwill 
impairment charge of £0.5m relating to 
the Group’s Solutions business.
Normalised earnings per share were 1.64p 
(2008: 1.70p).  Basic earnings per share 
were 1.01p (2008: 1.40p).
A maiden interim dividend of 0.08p per 
share was paid in August 2009.  The Board 
proposes a final dividend of 0.12p to give a 
full year dividend of 0.20p (2008: 0.115p).  
The 74% increase in dividend reflects 
the Board’s continuing confidence in the 
long-term strength of the business and its 
healthy operating cash generation of 63% 
(2008: 50%).
The 74% increase in 
dividend reflects the 
Board’s continuing 
confidence in the 
long-term strength 
of the business and 
its healthy operating 
cash generation of 
63% (2008: 50%). 10 IDOX plc Annual Report and Accounts 2009
Chairman:
M a r t i n	B r o o k s	( A g e d	5 9 )	
Martin Brooks was CEO of Financial 
Times Information, now Interactive Data 
Corporation, the world’s leading supplier 
of securities valuation data (1994-98).  
Prior to that he was MD of Extel Financial 
Ltd; part of a career spanning 30 years in 
newspapers, information publishing and 
IT, which started at the Financial Times in 
1977.  He chaired the publishing arm of 
The Institute of Chartered Accountants 
in England and Wales until 2002 and has 
also been a director or adviser to other 
companies. He is Non-Executive Chairman 
of Cornwall Development Company.
Peter
Lilley
Richard 
Kellett-Clarke
Martin
Brooks
Christopher
Wright
William 
Edmondson
Non-Executive Director:
R t .	h o n .	P e t e r	l i l l ey	M P	( A g e d	6 6 )
Peter Lilley, MP for Hitchin and Harpenden, 
was Parliamentary Private Secretary to 
Ministers for Local Government and 
after a period at the Treasury served as 
Secretary of State for Trade and Industry 
and Secretary of State for Social Security 
until 1997.  He is a Non-Executive Director 
of Melchior Japan Investment Trust plc 
and Deputy Chairman of Tethys Petroleum 
Ltd.  He is the senior independent Non-
Executive Director of IDOX and chairs the 
Audit Committee.
Non-Executive Director:
C h r i s t o p h e r	W r i g h t	( A g e d	5 2 )	
Christopher Wright was previously Global 
Head of Dresdner Kleinwort Capital.  He 
is now Chairman of EMAlternatives LLC, 
a Director of Merifin Capital, and holds 
directorships of Roper Industries Inc and 
other public and private companies in the 
USA and elsewhere.  He is an independent 
Non-Executive Director and chairs the 
Renumeration Committee.
Chief Executive Officer:
R i c h a r d	k e l l e t t - C l a r k e	( A g e d	5 5 )
Richard Kellett-Clarke has 25 years of 
directorial experience.  He joined IDOX 
first as CFO, then was appointed MD of 
the software division, followed by COO in 
2007.  He was appointed CEO in November 
2007.  Before this he has held a number of 
CFO appointments with Brady plc, Pickwick 
Group plc, Pearson PLC and Invensys 
plc.  In addition, he was a founder and 
Managing Director of AFX NEWS Ltd, now 
part of Thomson Reuters), IT Director of 
Financial Times Information, and Founding 
Director of Sealed Media Ltd. a DRM Internet 
start up (now part of Oracle).
Chief Financial Officer:
W i l l i a m	E d m o n d s o n	( A g e d	4 0 )
William Edmondson previously spent 7 
years at Autodesk inc., latterly as Finance 
Director for the Europe, Middle-East, 
India & Africa region.  Autodesk inc. 
is the world’s leader in 2D and 3D 
Design software.  Prior to that he was 
a Divisional Controller at ITV plc and 
Finance Director of a Technology start-
up focused on e-security.  He is a UK 
Chartered Accountant, having trained at 
PriceWaterhouseCoopers.
Bo a r d	o f	D i r e c t o r s
For the year ended 31 October 2009 11 IDOX plc Annual Report and Accounts 2009
For the year ended 31 October 2009
D i r e c t o r s’	R e p o r t
The Directors are pleased to submit their report and audited financial statements for the 
year ended 31 October 2009.
P r i n c i p a l	a c t i v i t i e s	a n d	r e v i e w	o f	b u s i n e s s
The Company is a holding company.  The principal activities of the Group are the 
development and supply of information and knowledge management products and 
services.  A more detailed review of the business can be found in the Chairman’s Statement, 
the Chief Executive’s Statement and Chief Financial Officer’s Review on pages 2 to 9.
R e s u l t s	a n d	d i v i d e n d s
The audited financial statements for the year ended 31 October 2009 are set out on 
pages 21 to 65.  The Group’s profit for the year after tax amounted to £3,459,000 (2008: 
£4,784,000).  The Directors paid a dividend of 0.08 pence per share in the first half of 
the 2009 financial year, in respect of the year ended 31 October 2009. The Directors will 
propose, at the forthcoming AGM, a final dividend of 0.12 pence per share in respect of the 
year ended 31 October 2009.
D i r e c t o r s	a n d	t h e i r	i n t e r e s t s
The Directors who served during the year and their beneficial interests (including those of 
their immediate families) in the Company’s 1p ordinary share capital were as follows:
Number of Shares 31 October 2009 1 November 2008
C Wright 702,222 702,222
Rt. Hon. P B Lilley MP 533,000 533,000
M Brooks 
1
2,973,206 2,973,206
R G Q Kellett-Clarke 
2
5,484,848 5,484,848
W Edmondson 100,000 -
1
  2,702,127 (2008: 2,702,127) of these shares are held through a Self Invested Pension Plan.
2
  1,466,667 (2008: 1,466,667) of these shares are held through Self Invested Pension Plan’s and 1,200,000 (2008: 1,200,000) shares are held through 
certain members of his family and a family trust.
In addition to the shareholdings listed above, Martin Brooks and Richard Kellett-Clarke have 
been granted options over ordinary shares.  Full details of these options are given in the 
Report on Remuneration on page 16.
Details of the Directors’ service contracts can be found in the Report on Remuneration on 
page 16.
Charitable and political donations
The Group made £2,295 charitable donations during the year (2008: £6,000) and no political 
donations during the year (2008: £Nil).
P a y m e n t	o f	c r e d i t o r s
It is the Group’s practice to agree credit terms with all suppliers and to pay all approved 
invoices within these agreed terms.  The average trade creditor days for the year were 64 
days (2008: 70 days). 12 IDOX plc Annual Report and Accounts 2009
For the year ended 31 October 2009
D i r e c t o r s’	R e p o r t	c o n t ’ d
S u b s t a n t i a l	s h a r e h o l d i n g s
As at 30 November 2009 the Company was aware of the following interests in 3% or more 
of its issued share capital:
Shareholder Number of shares % Holding
ISIS Equity Partners 33,137,334 9.63
Herald Investment Trust plc 27,966,667 8.13
Highclere International Investors 20,426,488 5.94
Rensburg Sheppards Investment Management 18,936,014 5.50
Constellation Software 16,600,000 4.82
Williams De Broe 14,992,960 4.36
Brewin Dolphin 13,973,414 4.06
Foresight Investment Partners 11,091,873 3.22
Octopus Investments Ltd 10,499,163 3.05
h e a l t h ,	s a f e t y	a n d	e n v i r o n m e n t a l	p o l i c i e s
The Group recognises and accepts its responsibilities for health, safety and the environment 
(H,S&E) and has a dedicated team which provides advice and support in this area.  The team 
members regularly attend external H,S&E courses and internal reviews are performed on a 
regular basis to ensure compliance with best practice and all relevant legislation.
E m p l o y e e	c o n s u l t a t i o n
The policy of informing and consulting with employees is maintained by means of 
regular team briefs and meetings.  Employees are encouraged to present their views and 
suggestions in respect of the Group’s performance.  In addition, the Group has an intranet 
which facilitates faster and more effective communication.
An Employee Share Investment Trust is in place to allow employees a tax efficient way of 
investing in the Company.  The Company purchases matching shares which become the 
property of the employee after a three year vesting period.
F i n a n c i a l	r i s k	m a n a g e m e n t	o b j e c t i v e s	a n d	p o l i c i e s
The Group uses various financial instruments which include cash, equity investments, 
bank loans and items such as trade debtors and trade creditors that arise directly from its 
operations.  The main purpose of these financial instruments is to raise finance for the 
Group’s operations. 
The main risks arising from the Group’s financial instruments are credit risk, liquidity risk 
and interest rate risk.  The directors review these risks on an ongoing basis. This policy has 
remained unchanged from previous years.
C r e d i t	r i s k
The Group’s principal financial assets are cash and trade debtors.  The credit risk associated 
with cash is limited as the counterparties have high credit ratings assigned by international 
credit-rating agencies.  The principal credit risk arises therefore from its trade debtors.  1 3 IDOX plc Annual Report and Accounts 2009
For the year ended 31 October 2009
D i r e c t o r s’	R e p o r t	c o n t ’ d
In order to manage credit risk, the management review the debt ageing on an ongoing 
basis, together with the collection history and third party credit references where 
appropriate. 
l i q u i d i t y	r i s k
The Group seeks to manage financial risk by ensuring sufficient liquidity is available to meet 
foreseeable needs and to invest cash assets safely and profitably.
I n t e r e s t	r a t e	r i s k
Any funds over and above the current working capital requirements of the Group are 
invested in high interest deposit accounts.  The Group’s bank borrowings bear interest at 
rates linked to the LIBOR.
P r i n c i p a l	r i s k s	a n d	u n c e r t a i n t i e s
The principal risks and uncertainties affecting the Group include the following:
•	 P o li t i c a l	–	t h e	G r o u p	h a s	a	l a r g e	c u s t o m e r	b a s e	i n	l o c a l	g o v e r n m e n t .	A	c h a n g e	i n	
spending priorities by the current or a future Government could materially impact the 
Group.
•	 E c o n o m i c	–	e l e m e n t s	o f	t h e	r e c r u i t m e n t	a r e a	o f	t h e	b u s i n e s s	a c t i v i t y	c o u l d	b e	a d v e r s e l y	
affected by a further slowdown in the economic environment.  However, in the event of 
an improvement in the economy, some recruitment revenue streams may improve.  The 
software area of the business could be adversely affected if the government reduces the 
grants to local authorities in an economic downturn.  However, all indications are that 
the government will maintain and may increase the grants during such a period.  The 
Group has increased diversification through acquisitions to mitigate against economic 
risks.
•	 C o m p e t i t o r s	–	t h e	G r o u p	h a s	a	n u m b e r	o f	c o m p e t i t o r s	f o r	i t s	s o f t w a r e	p r o d u c t s .		T o	
mitigate this risk, the Group continues to invest in and develop its software.
k ey	p e r f o r m a n c e	i n d i c a t o r s	
Key financial performance indicators, including the management of profitability and 
working capital, monitored on an ongoing basis by management are set out below:
Indicator 2009 2008 Measure
R e v e n u e	( £ 0 0 0 ) 32,164 34,034
P r o fi t a b i l i t y	r a t i o s
Gross margin 77% 79% Gross profit as a percentage of turnover 
EBITDA margin 23% 25% Profit before interest, tax, depreciation, 
amortisation, restructuring and impairments 
as a percentage of revenue
l i q u i d i t y	r a t i o
Current ratio 1.06 1.16 Current assets divided by current liabilities
Other indicator
Debtors days 47 68 Year end trade debtors divided by turnover, 
multiplied by 365 days 14 IDOX plc Annual Report and Accounts 2009
For the year ended 31 October 2009
D i r e c t o r s’	R e p o r t	c o n t ’ d
N o n - fi n a n c i a l	
indicators
Quality Management The IDOX group operates a quality policy that has been accredited to ISO 
9001:2000 for the development and the sale of products for document, 
content and information management, providing innovative e-government 
and e-business solutions that allow the delivery of information to the citizen 
and customers across the internet, extranet or intranet.
Environmental 
Management
The IDOX group operates an environmental management system that 
has been assessed and approved to accredited BS EN ISO 14001:2004, 
the approved systems applying to the following: the development and 
sale of products for document, content and information management, 
providing innovative e-government and e-business solutions that allow 
the delivery of information to citizen and customers across the internet, 
extranet or intranet.
G o i n g	C o n c e r n
The Group’s business activities, together with the factors likely to affect its future 
development, performance and position are set out in the Chairman’s Statement, the Chief 
Executive’s Statement and Chief Financial Officer’s Review on pages 2 to 9.  The financial 
position of the Group, its cash flows and liquidity position are described in the Chief Finance 
Officer’s Review on page 8.  In addition, notes 1, 11, 17 and 20 to the financial statements 
include the Group’s policies and processes for managing its capital, its financial risk 
management objectives, details of finance assets and liabilities and its exposures to credit 
risk and liquidity risk.
The Directors have reviewed the Group’s budget and cash flows for 2010 in the context 
of the Group’s banking facilities and covenants, the level of recurring revenue within the 
business, the outlook for our chosen markets, and our current working capital resources, 
and are satisfied that it is appropriate to prepare accounts on a going concern basis.  There 
are no events or conditions that may cast significant doubt about the ability of the Group to 
continue as a going concern.
D i s c l o s u r e	o f	I n f o r m a t i o n	t o	A u d i t o r s
In so far as each of the directors is aware:
•	 t h e r e	i s	n o	r e l e v a n t	a u d i t	i n f o r m a t i o n	o f	w h i c h	t h e	c o m p a n y ’ s	a u d i t o r s	a r e	u n a w a r e ;	a n d
•	 t h e	d i r e c t o r s	h a v e	t a k e n	a ll	s t e p s	t h a t	t h e y	o u g h t	t o	h a v e	t a k e n	t o	m a k e	t h e m s e l v e s	
aware of any relevant audit information and to establish that the auditors are aware of 
that information.
Au d i t o r s
A resolution to reappoint Grant Thornton UK LLP as auditors and to authorise the Directors 
to agree their remuneration will be placed before the forthcoming Annual General Meeting 
of the Company.
B y	o r d e r	o f	t h e	B o a r d        R e g i s t e r e d	o f fi c e
Jane Mackie           2nd Floor, 
Company Secretary         160 Queen Victoria Street
25 January 2010          London, EC4V 4BF 15 IDOX plc Annual Report and Accounts 2009
For the year ended 31 October 2009
R e p o r t	o n	R e m u n e r a t i o n
R e m u n e r a t i o n	c o m m i t t e e
The Remuneration Committee operates within defined terms of reference.  The 
Remuneration Committee comprises the Chairman and two Non-Executive Directors.  It is 
chaired by Christopher Wright.
R e m u n e r a t i o n	p o l i c y
The policy of the Group is to set levels of remuneration to attract, retain and motivate 
Executive Directors and key staff.  The packages are designed to be competitive in value 
to those offered to the Directors of similar sized public companies in related sectors.  It is 
the Board’s policy also to align the interests of managers with those of our shareholders in 
the grant of option and other equity rewards which underlying securities grantees are very 
much encouraged to retain over the longer term.
The components of the Executive Directors’ remuneration packages are currently a basic 
salary, bonus, money purchase pension contributions and benefits in kind.  The benefits 
include car allowance, private medical cover, life cover and critical illness cover.  The bonus 
elements are dependent on the Executive Directors achieving performance criteria set out 
by the Remuneration Committee.  The criteria include targets for turnover and profits as 
well as for cash balances.  In addition, the Group has introduced new share option schemes 
for the Executive Directors.
D i r e c t o r s ’	r e m u n e r a t i o n
Salary Benefits
Total
 2009 Total 2008 Pension 2009 Pension 2008
£000 £000 £000 £000 £000 £000
Executive Directors
Martin Brooks 
1
100 1 101 130 - -
Richard Kellett-Clarke 170 11 181 309 11 4
William Edmondson 
2
130 9 139 13 4 -
Steve Ainsworth 
3
- - - 133
Non Executive Directors
Christopher Wright 25 - 25 21 - -
Peter Lilley 25 - 25 21 - -
John Wisbey 
4
- - - 8
Nigel Oxbrow 
5
 - - - 6 - -
450 21 471 641 15 4
1
 Chairman
2
 appointed 29 September 2008
3
 appointed 7 June 2007 and resigned 16 November 2007
4
 resigned 28 February 2008
5
 resigned 28 February 2008
The amounts in respect of pension represent money purchase pension contributions. 16 IDOX plc Annual Report and Accounts 2009
For the year ended 31 October 2009
R e p o r t	o n	R e m u n e r a t i o n	c o n t ’ d
N o n - E x e c u t i v e	D i r e c t o r s
The Board, based on a recommendation by the Chairman of the Remuneration Committee 
or, in the case of the Chairman, the remainder of the Board, determines the remuneration 
of the Non-Executive Directors.  The Non-Executive Directors are not eligible to join the 
pension scheme.
S e r v i c e	c o n t r a c t s
The Executive Directors have entered into service contracts with the Group that are 
terminable by either party on not less than six months prior notice. 
S h a r e	o p t i o n s
The Directors believe it is important to incentivise key management and employees.
The following options have been granted to the Directors over ordinary 1p shares in the Company:
Director
At start
of year
Granted 
during 
the year Exercised Lapsed
At end
of year
Exercise 
price
Exercise 
date
From
Exercise 
date
To
Richard Kellett-Clarke 2,250,000 - - - 2,250,000 6.50p Feb 2007 Oct 2011
Richard Kellett-Clarke 2,250,000 - - - 2,250,000 9p Feb 2007 Oct 2014
Richard Kellett-Clarke 275,000 - - - 275,000 15p Dec 2007 Aug 2010
Richard Kellett-Clarke 769,231 - - - 769,231 13p Aug 2008 May 2013
Richard Kellett-Clarke 666,667 - - - 666,667 15p Aug 2008 May 2013
Martin Brooks 2,250,000 - - - 2,250,000 6.50p Feb 2007 Oct 2011
Martin Brooks 2,250,000 - - - 2,250,000 9p Feb 2007 Oct 2014
Martin Brooks 275,000 - - - 275,000 15p Dec 2007 Aug 2010
Martin Brooks 423,077 - - - 423,077 13p Aug 2008 May 2013
Martin Brooks 366,667 - - - 366,667 15p Aug 2008 May 2013
Totals 11,775,642 - - - 11,775,642
The mid market price of the Company’s shares at close of business on 31 October 2009 was 
9.88p and the high and low share prices during the year were 12.75p and 7p respectively.
D i r e c t o r s ’	s h a r e	i n t e r e s t s
The Directors’ shareholdings in the Company are listed in the Directors’ Report on page 11. 17 IDOX plc Annual Report and Accounts 2009
For the year ended 31 October 2009
C o r p o r a t e	G o v e r n a n c e	R e p o r t
C o r p o r a t e	g o v e r n a n c e	
The Group is committed to applying the 
highest principles of corporate governance 
commensurate with its size. The Group has 
adopted the Quoted Company Alliance 
(QCA) Corporate Governance Guidelines 
for AIM Companies as published in July 
2005. The Group complies with the QCA 
Corporate Governance Guidelines except 
whereby:
•	 t h e	B o a r d	d o e s	n o t	c u r r e n t l y	u n d e r t a k e	
performance evaluation of the Board, 
its committees, and its individual 
directors
•	 t h e	B o a r d	h e l d	e i g h t	B o a r d	m e e t i n g s	
and two of each Committee meetings 
during the year. All  Directors’ attended 
each Board meeting. Two Directors 
attended each Committee meeting
I n t e r n a l	C o n t r o l s
The Board takes responsibility for 
establishing and maintaining reliable 
systems of control in all areas of operation. 
These systems of control, especially 
of financial control, can only provide 
reasonable, but not absolute, assurance 
against material misstatement or loss. 
The key matters relating to the system of 
internal control are set out below:
•	 I D O X	p l c	h a s	e s t a b li s h e d	a n	o p e ra t i o n a l	
management structure with clearly 
defined responsibilities and regular 
performance reviews
•	 t h e	G r o u p	o p e ra t e s	a	c o m p r e h e n s i v e	
system for reporting financial and 
non-financial information to the Board 
including preparation and review of 
strategy plans and the preparation and 
review of annual budgets
•	 fi n a n c i a l	r e s u l t s	a r e	m o n i t o r e d	
against budgets, forecasts and other 
performance indicators with action 
dictated accordingly at each meeting
•	 a	s t r u c t u r e d	a p p r o v a l	p r o c e s s	b a s e d	o n	
assessment of risk and value delivered
•	 s u f fi c i e n t	r e s o u r c e	i s	f o c u s e d	t o	
maintain and develop internal control 
procedures and information systems, 
especially in financial management
The Board considers that there have been 
no substantial weaknesses in internal 
financial controls that have resulted in 
any material losses, contingencies or 
uncertainties which need to be disclosed in 
the accounts.
The Board has considered the need for 
an internal audit function and concluded 
that there is no current need for such a 
function within the Group. In the absence 
of a dedicated function, one member of 
staff has undergone internal audit training 
and ad hoc internal audit projects have 
been carried out cross-departmentally 
during the year. Furthermore, in 
compliance with the Group’s quality 
standards, additional internal reviews are 
carried out. 
Following publication of Internal Control: 
Guidance for Directors on the Combined 
Code (the “Turnbull Guidance”), the Board 
confirms that there is an ongoing process 
for identifying, evaluating and managing 
the significant risks faced by the Group, 
and that this process has been in place 
for the year under review and up to the 
date of approval of the Annual Report 
and Accounts. This process is regularly 
reviewed by the Board and is consistent 
with the Turnbull Guidance. 
S t a t e m e n t	o f	D i r e c t o r s ’	r e s p o n s i b i l i t i e s
The directors are responsible for preparing 
the Annual 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 to prepare financial statements in 
accordance with International Financial 
Reporting Standards as adopted by the 
European Union (IFRSs). The financial 
statements are required by law to give a 
true and fair view of the state of affairs of 
the group and parent company and of the 
profit or loss of the group for that period. 
In preparing these financial statements, 
the directors are required to:
•	 s e l e c t	s u i t a b l e	a c c o u n t i n g	p o li c i e s	a n d	
then apply them consistently
•	 m a k e	j u d g m e n t s	a n d	e s t i m a t e s	t h a t	a r e	
reasonable and prudent
•	 s t a t e	w h e t h e r	a p p li c a b l e	I F R S s	h a v e	
been followed, subject to any material 
departures disclosed and explained in 
the financial statements
•	 p r e p a r e	t h e	fi n a n c i a l	s t a t e m e n t s	o n	
the going concern basis unless it is 
inappropriate to presume that the 
company will continue in business
The directors are responsible for keeping 
proper accounting records that disclose 
with reasonable accuracy at any time 
the financial position of the Group and 
enable them to ensure that the financial 
statements comply with the Companies 
Act 2006 and Article 4 of the IAS 
Regulation. They are also responsible for 
safeguarding the assets of the Group and 
hence for taking reasonable steps for the 
prevention and detection of fraud and 
other irregularities.
The directors are responsible for ensuring 
that the Directors’ Report and other 
information included in the Annual Report 
is prepared in accordance with United 
Kingdom Company Law. They are also 
responsible for ensuring that the Annual 
Report includes information required by 
the AIM Market Rules. 
The maintenance and integrity of the 
Group’s web site is the responsibility of 
the Directors; the work carried out by the  18 IDOX plc Annual Report and Accounts 2009
For the year ended 31 October 2009
C o r p o r a t e	G o v e r n a n c e	R e p o r t	c o n t ’ d
auditors does not involve consideration 
of these matters and, accordingly, the 
auditors accept no responsibility for any 
changes that may have occurred to the 
information contained in the accounts 
since they were initially presented on the 
web site. 
Legislation in the United Kingdom 
governing the preparation and the 
dissemination of the accounts and other 
information included in annual reports 
may differ from legislation in other 
jurisdictions. 
A c c o u n t i n g	P o l i c i e s
The Board considers the appropriateness 
of its accounting policies on an annual 
basis. The Board believes that its 
accounting policies are appropriate 
in particular in relation to income 
recognition, research and development 
and deferred income.
B o a r d	o f	D i r e c t o r s
The Board, comprising the Chairman, 
the Chief Executive Officer, the Chief 
Finance Officer and two Non-Executive 
Directors, is responsible for the overall 
strategy and direction of IDOX plc as well 
as for approving potential acquisitions, 
major capital expenditure items and 
financing matters. The Board has a 
formal schedule of business reserved 
to it and meets regularly during the 
year. The Board is supplied in a timely 
manner with information in a form and 
of a suitable quality appropriate to 
enable it to discharge its duties. Advice 
from independent sources is available if 
required. The Board monitors exposure to 
key business risks and reviews the strategic 
direction of the Group, the annual budgets 
as well as their progress against those 
budgets.
The Board members and their roles are 
described on page 10.  In accordance with 
the Company’s Articles of Association, 
one third of the Directors are required to 
retire by rotation at the Annual General 
Meeting.
S h a r e h o l d e r	R e l a t i o n s
IDOX plc is committed to open 
communication with all its shareholders. 
The Directors hold regular meetings 
with institutional shareholders to discuss 
and review the Group’s activities and 
objectives. Communication with private 
shareholders is principally through 
the Annual General Meeting, where 
participation is encouraged and where 
the Board is available to answer questions. 
IDOX plc maintains up-to-date information 
on the Investor Relations section of its 
website, www.IDOXplc.com.
Every shareholder is sent a full annual 
report each year end and at the half year 
end the interim report is made available 
on the investor relations website. Care is 
taken to ensure that any price sensitive 
information is released to all shareholders, 
institutional and private, at the same time 
in accordance with London Stock Exchange 
requirements. 
IDOX plc strives to give a full, timely and 
realistic assessment of its business in a 
balanced way, in all price-sensitive reports 
and presentations. 
The Group has adopted the Quoted 
Company Alliance (QCA) suggested 
terms of reference for the various Board 
committees as set out by the QCA.
t h e	A u d i t	C o m m i t t e e
The Audit Committee is chaired by Peter 
Lilley and includes Christopher Wright. 
The Report of the Audit Committee can be 
found on page 19.
t h e	N o m i n a t i o n	C o m m i t t e e
The Nomination Committee is chaired 
by Peter Lilley and comprises all Non-
Executive Directors. 
t h e	R e m u n e r a t i o n	C o m m i t t e e
The Remuneration Committee is chaired 
by Christopher Wright and includes Peter 
Lilley.  This Committee determines the 
remuneration and benefits packages for 
the Executive Directors and any changes 
to the service contracts. The Committee 
also approves any share related incentive 
schemes within the Group. 
M e m b e r s h i p	a n d	M e e t i n g s
The Audit Committee is a committee 
of the Board and is comprised of two 
Non-Executive Directors: Peter Lilley and 
Christopher Wright.  
The Audit Committee invites the Executive 
Directors, the external auditors and other 
senior managers to attend its meetings as 
appropriate. The Company Secretary is also 
the Secretary of the Audit Committee.
The Audit Committee is considered to have 
sufficient, recent and relevant financial 
experience to discharge its functions.
During the period under review, the Audit 
Committee met four times.
R o l e ,	R e s p o n s i b i l i t i e s	a n d	t e r m s	o f	
Re f e r e n ce
The Audit Committee’s role is to assist 
the Board in the effective discharge of its 
responsibilities for financial reporting and 
internal control. 19 IDOX plc Annual Report and Accounts 2009
For the year ended 31 October 2009
R e p o r t	o f	t h e	A u d i t	C o m m i t t e e
The Audit Committee’s responsibilities 
include:
•	 t o	r e v i e w	t h e	i n t e g r i t y	o f	t h e	a n n u a l	
and interim financial statements of the 
Group ensuring they comply with legal 
requirements, accounting standards 
and AIM rules, and any other formal 
announcements relating to the Group’s 
financial performance 
•	 t o	r e v i e w	t h e	G r o u p ’ s	i n t e r n a l	fi n a n c i a l	
control and risk management systems
•	 m o n i t o r	 a n d	 r e v i e w	 t h e	 r e q u i r e m e n t	 f o r	
an internal audit function
•	 t o	r e v i e w	t h e	a r ra n g e m e n t s	f o r	s t a f f	t o	
whistle-blow on financial reporting and 
other matters
•	 s a f e g u a r d	t h e	a u d i t o r ’ s	o b j e c t i v i t y	a n d	
independence when non-audit services 
are provided
•	 o v e r s e e	t h e	r e l a t i o n s h i p	w i t h	t h e	
external auditor, including approval of 
their remuneration, agreeing the scope 
of the audit engagement, assessing 
their independence, monitoring the 
provision of non-audit services, and 
considering their reports on the Group’s 
financial statements
The Audit Committee operates within 
agreed terms of reference, which can be 
found on the Company’s website.
I n d e p e n d e n c e	o f	E x t e r n a l	A u d i t o r s
The Committee keeps under review the 
relationship with the external auditors 
including:
•	 t h e	i n d e p e n d e n c e	a n d	o b j e c t i v i t y	
of the external auditors, taking into 
account the relevant UK professional 
and regulatory requirements and 
the relationship with the auditor as a 
whole, including the provision of the 
non-audit services
•	 t h e	c o n s i d e ra t i o n	o f	a u d i t	f e e s	a n d	a n y	
fees for non-audit services
The Audit Committee develops and 
recommends to the Board the Group’s 
policy in relation to the provision of non-
audit services by the auditors, and ensures 
that the provision of such services does not 
impair the external auditor independence.
P e t e r	l i l l ey
Chairman of the Audit Committee
25 January 2010 20 IDOX plc Annual Report and Accounts 2009
R e p o r t	o f	t h e	I n d e p e n d e n t	A u d i t o r s
t o	t h e	m e m b e r s	o f	ID O X	p l c
We have audited the group financial 
statements of IDOX plc for the year 
ended 31 October 2009 which comprise 
the consolidated balance sheet, the 
consolidated income statement, the 
consolidated cash flow statement, the 
consolidated statement of changes in 
equity and the related notes.  The financial 
reporting framework that has been 
applied in their preparation is applicable 
law and International Financial Reporting 
Standards (IFRSs) as adopted by the 
European Union.
This report is made solely to the company’s 
members, as a body, in accordance with 
Sections 495 and 496 of the Companies Act 
2006. Our 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 auditor’s 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. 
R e s p e c t i v e	r e s p o n s i b i l i t i e s	o f	d i r e c t o r s	
a n d	a u d i t o r s
As explained more fully in the Directors’ 
Responsibilities Statement set out 
on pages 17 and 18, the directors are 
responsible for the preparation of the 
group financial statements and for being 
satisfied that they give a true and fair 
view. Our responsibility is to audit the 
group financial statements in accordance 
with applicable law and International 
Standards on Auditing (UK and Ireland). 
Those standards require us to comply with 
the Auditing Practices Board’s (APB’s) 
Ethical Standards for Auditors.
S c o p e	o f	t h e	a u d i t	o f	t h e	fi n a n c i a l	
s t a t eme nt s
A description of the scope of an audit of 
financial statements is provided on the 
APB’s website at www.frc.org.uk/apb/
scope/UKNP.
O p i n i o n	o n	fi n a n c i a l	s t a t e m e n t s
In our opinion the group financial 
statements:
•	 g i v e	a	t r u e	a n d	f a i r	v i e w	o f	t h e	s t a t e	
of the group’s affairs as at 31 October 
2009 and of its profit for the year then 
ended; 
•	 h a v e	b e e n	p r o p e r l y	p r e p a r e d	i n	
accordance with IFRS as adopted by the 
European Union; and
•	 h a v e	b e e n	p r e p a r e d	i n	a c c o r d a n c e	w i t h	
the requirements of the Companies Act 
2006.
O p i n i o n	o n	o t h e r	m a t t e r	p r e s c r i b e d	b y	t h e	
C o m p a n i e s	A c t	2 0 0 6
In our opinion, the information given in 
the Directors’ Report for the financial year 
for which the group financial statements 
are prepared is consistent with the group 
financial statements.
M a t t e r s	o n	w h i c h	w e	a r e	r e q u i r e d	t o	
r e p o r t	b y	e x c e p t i o n
We have nothing to report in respect 
of the following matters where the 
Companies Act 2006 requires us to report 
to you if, in our opinion:
•	 c e r t a i n	d i s c l o s u r e s	o f	d i r e c t o r s ’	
remuneration specified by law are not 
made; or
•	 w e	h a v e	n o t	r e c e i v e d	a ll	t h e	
information and explanations we 
require for our audit.
O t h e r	m a t t e r
We have reported separately on the parent 
company financial statements of IDOX plc 
for the year ended 31 October 2009.
M a r k	C a r d i f f
Senior Statutory Auditor for and on behalf 
of Grant Thornton UK LLP
Statutory Auditor, Chartered Accountants
London
2 February 2010 21 IDOX plc Annual Report and Accounts 2009
For the year ended 31 October 2009
C o n s o l i d a t e d	I n c o m e	S t a t e m e n t
Note 2009 2008
£000 £000
R ev e n u e 2 32,164 34,034
External charges (7,283) (7,017)
24,881 27,017
Staff costs 4 (14,026) (14,745)
Other operating charges (3,376) (3,697)
7,479 8,575
Depreciation (372) (340)
Amortisation (1,112) (920)
Goodwill impairment charge 10 (533) -
Restructuring costs 4 (427) -
Share option costs (99) (108)
O p e r a t i n g	p r o fi t 3 4,936 7,207
Finance income 125 263
Finance costs (582) (901)
P r o fi t	b e f o r e	t a x a t i o n 4,479 6,569
Income tax expense 7 (1,020) (1,785)
P r o fi t	f o r	t h e	p e r i o d 3,459 4,784
E a r n i n g s	p e r	s h a r e
Basic 8 1.01p 1.40p
Diluted 8 1.00p 1.38p
The accompanying accounting policies and notes form an integral part of these financial statements. 22 IDOX plc Annual Report and Accounts 2009
C o n s o l i d a t e d	Ba l a n c e	S h e e t
At 31 October 2009
Note 2009 2008
£000 £000
A S S E t S
N o n - c u r r e n t	a s s e t s
Property, plant and equipment 9 757 500
Intangible assets 10 32,608 31,887
Deferred tax assets 18 315 265
t o t a l	n o n - c u r r e n t	a s s e t s 33,680 32,652
C u r r e n t	a s s e t s
Trade and other receivables 13 6,462 8,276
Cash and cash equivalents 12 6,947 7,688
t o t a l	c u r r e n t	a s s e t s 13,409 15,964
t o t a l	a s s e t s 47,089 48,616
l I A B I l I t I ES
C u r r e n t	l i a b i l i t i e s
Trade and other payables 14 3,171 2,845
Other liabilities 15 8,138 8,113
Provisions 16 138 370
Current tax 187 1,086
Deferred tax liabilities 18 - 250
Derivative financial instruments 19 - 96
Borrowings 17 1,000 1,000
t o t a l	c u r r e n t	l i a b i l i t i es 12,634 13,760
N o n - c u r r e n t	l i a b i l i t i e s
Trade and other payables 14 - 422
Deferred tax liabilities 18 3,501 3,292
Borrowings 17 2,781 5,696
t o t a l	n o n - c u r r e n t	l i a b i l i t i e s 6,282 9,410
t o t a l	l i a b i l i t i e s 18,916 23,170
N e t	a s s e t s 28,173 25,446
EQ UI t y
Called up share capital 21 3,442 3,442
Capital redemption reserve 1,112 1,112
Share premium account 9,903 9,883
Treasury reserve (212) -
Share options reserve 454 364
Merger reserve 1,294 1,294
ESOP trust (88) (96)
Retained earnings 12,268 9,447
t o t a l	e q u i t y 28,173 25,446 23 IDOX plc Annual Report and Accounts 2009
C o n s o l i d a t e d	Ba l a n c e	S h e e t	c o n t ’ d
At 31 October 2009
The financial statements were approved by the Board of Directors and authorised for issue on 25 January 2010 and are signed on its behalf by:
W i l l i a m	E d m o n d s o n	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 R i c h a r d	k e l l e t t - C l a r k e
Chief Financial Officer                Chief Executive Officer  
The accompanying accounting policies and notes form an integral part of these financial statements.
Company name: IDOX plc   Company number: 03984070 24 IDOX plc Annual Report and Accounts 2009
For the year ended 31 October 2009
C o n s o l i d a t e d	S t a t e m e n t	o f	C h a n g e s	i n	E q u i t y
Called 
up share 
capital
Capital
redemption 
reserve
Share
premium
account
Treasury 
reserve
Share
option 
reserve
Merger 
reserve
ESOP
Trust
Retained 
earnings
Total
£000 £000 £000 £000 £000 £000 £000 £000 £000
t h e	g r o u p
A t	1	N o v e m b e r	2 0 0 7 3,420 1,112 9,706 - 359 1,294 (104) 4,903 20,690
Profit for the year - - - - - - - 4,784 4,784
Total recognised income 
and expense for the year
- - - - - - - 4,784 4,784
Issue of share capital 22 - 177 - - - - - 199
Transfer on exercise of 
share options
- - - - (103) - - 103 -
Share options reserve - - - - 108 - - - 108
Equity dividends paid - - - - - - - (343) (343)
ESOP trust - - - - - - 8 - 8
A t	3 1	O c t o b e r	2 0 0 8 3,442 1,112 9,883 - 364 1,294 (96) 9,447 25,446
Profit for the year - - - - - - - 3,459 3,459
Total recognised income 
and expense for the year - - - - - - - 3,459 3,459
Deferred tax on share 
based payments - - - - - - - 25 25
Issue of share capital - - 20 3 - - - - 23
Transfer on exercise of 
share options
- - - - (9) - - 9 -
Share options reserve - - - - 99 - - - 99
Purchase of treasury shares - - - (215) - - - - (215)
Equity dividends paid - - - - - - - (672) (672)
ESOP trust - - - - - - 8 - 8
A t	3 1	O c t o b e r	2 0 0 9 3,442 1,112 9,903 (212) 454 1,294 (88) 12,268 28,173 25 IDOX plc Annual Report and Accounts 2009
For the year ended 31 October 2009
C o n s o l i d a t e d	C a s h	F l o w	S t a t e m e n t	
2009 2008
£000 £000
C a s h	fl o w s	f r o m	o p e r a t i n g	a c t i v i t i e s 
Profit for the period before taxation 4,479 6,569
Adjustments for:
Depreciation 372 340
Amortisation 1,112 920
Goodwill impairment 533 -
Finance income (125) (263)
Finance costs 497 816
Debt issue costs amortisation 85 85
Share option costs 99 108
Exchange gains 27 -
Movement in receivables 1,955 (538)
Movement in payables (1,541) (1,830)
C a s h	g e n e r a t e d	b y	o p e r a t i o n s 7,493 6,207
Tax on profit paid (2,152) (1,280)
N e t	c a s h	f r o m	o p e r a t i n g	a c t i v i t i e s 5,341 4,927
C a s h	fl o w s	f r o m	i n v e s t i n g	a c t i v i t i e s
Acquisition of subsidiary net of cash acquired (795) (3,833)
Purchase of property, plant and equipment (595) (291)
Purchase of intangible assets (464) (353)
Finance Income 125 263
N e t	c a s h	u s e d	i n	i n v e s t i n g	a c t i v i t i e s (1,729) (4,214)
C a s h	fl o w s	f r o m	fi n a n c i n g	a c t i v i t i e s
Proceeds from issue of share capital 20 199
Interest paid (353) (816)
Other loan related costs (144) -
Loan repayments (3,000) (1,000)
Equity dividends paid (672) (343)
(Purchase)/sale of own shares (204) 8
N e t	c a s h	fl o w s	f r o m	fi n a n c i n g	a c t i v i t i e s (4,353) (1,952)
N e t	m o v e m e n t	o n	c a s h	a n d	c a s h	e q u i v a l e n t s (741) (1,239)
Cash and cash equivalents at the beginning of the period 7,688 8,927
Cash and cash equivalents at the end of the period 6,947 7,688
The accompanying accounting policies and notes form an integral part of these financial statements. 26 IDOX plc Annual Report and Accounts 2009
For the year ended 31 October 2009
N o t e s	t o	t h e	A c c o u n t s
1 	 AC CO U N t I N G 	 P O l I C I E S
G e n e r a l	I n f o r m a t i o n
IDOX plc is a leading supplier of software and services for the management of local government and other organisations. The company is a 
public limited company which is listed on the London Altenative Investment Market and is incorporated and domiciled in the UK. The address 
of its registered office is 160 Queen Victoria Street, London. The registered number of the company is 03984070.
B a s i s	o f	p r e p a r a t i o n
These financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the 
European Union (EU) and the Companies Act 2006 applicable to companies reporting under IFRS.  
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain financial assets 
and liabilities, being derivative financial instruments carried at fair value through profit or loss.
As set out on page 14 of the Directors’ Report, the financial statements have been prepared on a going concern basis.
S t a n d a r d s	a d o p t e d	e a r l y	b y	t h e	G r o u p
The Group has elected to adopt IFRS 8 Operating Segments early.  This standard replaces IAS 14 Segment Reporting and aligns segment 
reporting with the requirements of the US standard SFAS 131, Disclosures about segments of an enterprise and related information.  The 
new standard requires a ‘management approach’, under which segment information is presented on the same basis as that used for internal 
reporting purposes.
I n t e r n a t i o n a l	F i n a n c i a l	R e p o r t i n g	S t a n d a r d s	a n d	I n t e r p r e t a t i o n s	i s s u e d	b u t	n o t	y e t	e f f e c t i v e
At the date of authorisation of these financial statements, certain new standards, amendments and interpretations to existing standards 
have been published that are mandatory for forthcoming financial periods, but which the Group has not adopted early.  Those which are 
considered relevant to the Group’s operations are as follows:
•	 I A S	1	P r e s e n t a t i o n	o f	fi n a n c i a l	s t a t e m e n t s	–	R e v i s i o n .	A m e n d m e n t s	t o	t h e	s t a n d a r d	i n c l u d e	c h a n g e s	t o	t i t l e s	o f	s o m e	o f	t h e	fi n a n c i a l	
statements and presentational changes to the components of the financial statements.  The revision is effective for periods commencing 
on or after 1 January 2009.
•	 I A S	2 3	B o r r o w i n g	C o s t s	–	R e v i s i o n .		T h i s	r e v i s i o n	e li m i n a t e s	t h e	o p t i o n	t o	e x p e n s e	b o r r o w i n g	c o s t s	t o	t h e	i n c o m e	s t a t e m e n t	a s	i n c u r r e d	
and is effective for periods commencing on or after 1 January 2009.
•	 I A S	2 7	C o n s o li d a t e d	a n d	s e p a ra t e	fi n a n c i a l	s t a t e m e n t s	–	R e v i s i o n .		T h e	m a i n	a m e n d m e n t s	r e l a t e	t o	t h e	a c c o u n t i n g	f o r	m i n o r i t y	i n t e r e s t s	
and the loss of control of a subsidiary.  The revision is effective for periods commencing on or after 1 July 2009.
•	 I F R S	2	S h a r e	b a s e d	p a y m e n t	–	R e v i s i o n .		T h e	a m e n d m e n t	r e d e fi n e s	v e s t i n g	c o n d i t i o n s	a n d	c l a r i fi e s	t h e	a c c o u n t i n g	t r e a t m e n t	i n	r e s p e c t	o f	
cancellations and non-vesting conditions.  The revision is effective for periods commencing on or after 1 January 2009.
•	 I F R S	3	B u s i n e s s	c o m b i n a t i o n s	–	R e v i s i o n .		T h i s	w ill	b r i n g	c h a n g e s	t o ,	t h e	a c c o u n t i n g	f o r	g o o d w ill ,	t h e	c o s t	o f	b u s i n e s s	c o m b i n a t i o n s	a n d	t h e	
accounting for business combinations achieved in stages.  The revision is effective for periods commencing on or after 1 July 2009.
•	 I F R I C s	1 2 ,	1 3 ,	1 4	a n d	1 5	a r e	a l s o	c o m i n g	i n	t o	i s s u e	a n d	w ill	b e	e f f e c t i v e	f r o m	1	J a n u a r y	2 0 0 8 ,	1	J u l y	2 0 0 8 ,	1	J a n u a r y	2 0 0 8	a n d	1	J a n u a r y	
2009 respectively.  The issue of these IFRICs is not expected to have an impact on future financial statements.
The directors anticipate that the adoption of these Standards and Interpretations will have no marked impact on the financial statements 
when they come into effect, other than IAS1 Presentation of financial statements which will lead to presentation and disclosure amendments 
and IFRS 3 which no longer allows costs of acquisition to be capitalised. 27 IDOX plc Annual Report and Accounts 2009
N o t e s	t o	t h e	A c c o u n t s	c o n t ’ d
For the year ended 31 October 2009
C r i t i c a l	a c c o u n t i n g	e s t i m a t e s	a n d	j u d g e m e n t s
Estimates and judgements 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.
The Group makes estimates and assumptions concerning the future.  The resulting accounting estimates and assumptions will, by definition, 
seldom equal the related actual results.  The Group has evaluated the estimates and assumptions that have been made in relation to the 
carrying amounts of assets and liabilities in these financial statements.  The estimates and assumptions which have the most significant 
impact on the financial statements which are recognised in the financial statements are as follows:
(i) Intangible assets 
The Group recognises intangible assets acquired as part of business combinations at fair value at the date of acquisition.  The determination 
of these fair values is based upon management’s judgement and includes assumptions on the timing and amount of future incremental cash 
flows generated by the assets and selection of an appropriate cost of capital.  Furthermore, management must estimate the expected useful 
lives of intangible assets and charge amortisation on those assets accordingly.  In determining the useful economic life of the intangible 
software assets, management has given consideration to the length of time that its own software is typically used within its market.  In 
addition, management reviewed competitor products and the length of time they had also been in use.
Consideration was also given as to the likelihood that a new competitor could enter the market with a new product.  This was considered 
unlikely due to the up-front capital investment which would be required to develop a new product, the requirement for reference sites 
to demonstrate the product, and the long life cycles which products have in the market. For details on the estimates made in relation to 
intangible assets, see note 10.
(ii) Development costs
The Group reviews half yearly  whether the recognition requirements for development costs have been met.  This is necessary as the 
economic success of any product development is uncertain and may be subject to future technical problems at the time of recognition.  
Judgements are based on the information available at each balance sheet date.  In addition, all internal activities related to the research and 
development of new software products are continuously monitored by the directors. See note 10 for further information.
(iii) Impairment of goodwill
The Group is required to test, as least annually, whether goodwill has suffered any impairment.  The recoverable amount is determined based 
upon value-in-use and net realisable value calculations.  The value-in-use method requires the estimation of future cash flows and the choice 
of a suitable discount rate in order to calculate the present value of these cash flows. Pre-tax discount rates have been applied and are based 
on WACC calculations.  See note 10 for further commentary.
Fair value less costs to sell have been determined using an earnings multiplier, derived from comparable software industry data, adjusted for 
a control premium. See note 10 for further commentary.
(iv) Revenue recognition
The group recognises revenue on certain contracts such as work in progress, prior to an invoice being raised, where work has been completed 
and there is a high degree of certainty of the contract being completed and the invoice raised and cash received. See paragraph headed 
‘Revenue’ below for more detail on how the Group accounts for revenue. 
(v) Dilapidations
Dilapidation provisions are management’s best estimates based on actual costs incurred in existing or similar properties. See note 16 for 
details of the amounts included in the balance sheet at the year end. 28 IDOX plc Annual Report and Accounts 2009
N o t e s	t o	t h e	A c c o u n t s	c o n t ’ d
For the year ended 31 October 2009
B a s i s	o f	c o n s o l i d a t i o n
The Group accounts consolidate the accounts of the Company and its subsidiary undertakings drawn up to 31 October each year.  Subsidiaries 
are those entities over which the Group has the power to control the financial and operating policies.  Over all its subsidiaries, IDOX plc 
obtains and exercises control through 100% of the voting rights.
The Group elected not to apply IFRS 3 Business Combinations retrospectively to business combinations prior to 1 November 2006.  
Accordingly the classification of the combination (acquisition, reverse acquisition or merger) remains unchanged from that used under UK 
GAAP.  
Assets and liabilities are recognised at the date of transition if they would be recognised under IFRS, and are measured using their UK GAAP 
carrying amount immediately post-acquisition as deemed cost under IFRS, unless IFRS requires fair value measurement.  Deferred tax is 
adjusted for the impact of any consequential adjustments after taking advantage of the transitional provisions.
All inter-company transactions are eliminated on consolidation. 
The presentational currency of the group is £GBP sterling.
R ev e n u e
Revenue represents the amounts receivable in respect of goods and services provided during the year, stated net of value added tax.  Where 
work has been done, but a billing milestone has not been reached, the income has been accrued and included in amounts recoverable within 
trade and other receivables. 
Revenue is measured at the fair value of the right to consideration. The Group derives its revenue streams from software solutions, 
information solutions and recruitment services.  
IDOX software products revenue is recognised in stages based on contract signing, delivery, configuration and client acceptance. For 
small value orders, the whole invoice amount is recognised at the billing point. For larger value orders, revenue is reviewed to see if the 
appropriate amount of work has been completed. For the largest orders, the amount of revenue recognised is dependent on the percentage 
of completion of the Group’s contractual obligations. The revenues for maintenance and managed service contracts are spread over the 
period of the agreement, which is typically one year.  
Revenue derived from information solutions content is recognised over the life of the subscription, which is typically one year.  Revenue from 
projects is recognised over the life of the project in accordance with the stage of completion.  Revenue from information solutions based 
managed services is recognised on a usage basis as the service is performed.
Recruitment revenue from permanent placements is recognised in the month when the placement starts.  Revenue from contract recruitment 
is recognised as the service is performed.
C o n t r a c t	r e v e n u e
The amount of profit attributable to the stage of completion of a long term contract is recognised only when the outcome of the contract 
can be foreseen with reasonable certainty. Revenue for such contracts is stated at the cost appropriate to their stage of completion plus 
attributable profits, less amounts recognised in previous years. Provision is made for any losses as they are foreseen.
Amounts recoverable on contracts are included in trade and other receivables and represent revenue recognised in excess of payments on 
account. 29 IDOX plc Annual Report and Accounts 2009
N o t e s	t o	t h e	A c c o u n t s	c o n t ’ d
For the year ended 31 October 2009
S e g m e n t a l	r e p o r t i n g
Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker.  The 
chief operating decision-maker has been identified as the steering committee that makes strategic decisions.
G o o d w ill
Goodwill representing the excess of the fair value of the consideration given over the fair value of the group’s share of the identifiable 
net assets acquired is capitalised and reviewed annually for impairment.  Goodwill is carried at cost less accumulated impairment losses.  
Negative goodwill is recognised immediately after acquisition in the income statement.
Goodwill written off to reserves prior to date of transition to IFRS remains in reserves.  There is no re-instatement of goodwill that was 
amortised prior to transition to IFRS.  Goodwill previously written off to reserves is not written back to profit or loss on subsequent disposal.
Other intangible assets
Intangible assets with a finite useful life are amortised to the consolidated income statement on a straight-line basis over their estimated 
useful lives, which are reviewed on an annual basis.  Amortisation commences when the asset is available for use.  The residual values of 
intangible assets are assumed to be zero.
(i) Research and development
Expenditure on research (or the research phase of an internal project) is recognised as an expense in the period in which it is incurred.  
Development costs incurred are capitalised when all the following conditions are satisfied:
•	 c o m p l e t i o n	o f	t h e	i n t a n g i b l e	a s s e t	i s	t e c h n i c a ll y	f e a s i b l e	s o	t h a t	i t	w ill	b e	a v a il a b l e	f o r	u s e	o r	s a l e
•	 t h e	g r o u p	i n t e n d s	t o	c o m p l e t e	t h e	i n t a n g i b l e	a s s e t	a n d	u s e	o r	s e ll	i t
•	 t h e	g r o u p	h a s	t h e	a b ili t y	t o	u s e	o r	s e ll	t h e	i n t a n g i b l e	a s s e t
•	 t h e	i n t a n g i b l e	a s s e t	w ill	g e n e ra t e	p r o b a b l e	f u t u r e	e c o n o m i c	b e n e fi t s .		A m o n g	o t h e r	t h i n g s ,	t h i s	r e q u i r e s	t h a t	t h e r e	i s	a	m a r k e t	f o r	t h e	
output from the intangible asset or for the intangible asset itself, or, if it is to be used internally, the asset will be used in generating such 
benefits
•	 t h e r e	a r e	a d e q u a t e	t e c h n i c a l ,	fi n a n c i a l	a n d	o t h e r	r e s o u r c e s	t o	c o m p l e t e	t h e	d e v e l o p m e n t	a n d	t o	u s e	o r	s e ll	t h e	i n t a n g i b l e	a s s e t ,	a n d
•	 t h e	e x p e n d i t u r e	a t t r i b u t a b l e	t o	t h e	i n t a n g i b l e	a s s e t	d u r i n g	i t s	d e v e l o p m e n t	c a n	b e	m e a s u r e d	r e li a b l y
Development costs not meeting the criteria for capitalisation are expensed as incurred.  The cost of an internally generated intangible 
asset comprises all directly attributable costs necessary to create, produce, and prepare the asset to be capable of operating in the manner 
intended by management.  Amortisation commences upon completion of the asset, and is shown within other operating charges.
Careful judgement by the directors is applied when deciding whether the recognition requirements for development costs have been met.  
This is necessary as the economic success of any product development is uncertain and may be subject to future technical problems at the 
time of recognition.  Judgements are based on the information available at each balance sheet date.  In addition, all internal activities 
related to the research and development of new software products are continuously monitored by the directors.
(ii) Customer relationships
Customer relationships represent the purchase price of customer lists and contractual relationships purchased on the acquisition of CAPS 
Solutions Limited, Plantech Limited and j4b Software and Publishing Limited.  These relationships are carried at cost less accumulated 
amortisation and accumulated impairment losses.  Amortisation is calculated using the straight line method over a period of 20, 10 and 5 
years. 3 0 IDOX plc Annual Report and Accounts 2009
N o t e s	t o	t h e	A c c o u n t s	c o n t ’ d
For the year ended 31 October 2009
(iii) Trade names
Trade names represent the named intangible asset recognised on the acquisition of CAPS Solutions Limited, Plantech Limited and j4b 
Software and Publishing Limited.  These trade names are carried at cost less accumulated amortisation and accumulated impairment losses.  
Amortisation is calculated using the straight line method over a period of 20 and 10 years.
(iv) Software
Software represents the UNI-form and ACOLAID software purchased on the acquisition of CAPS Solutions Limited and Plantech Limited.  The 
software is carried at cost less accumulated amortisation and accumulated impairment losses.  Amortisation is calculated using the straight 
line method over a period of 10 years. 
(v) Database
Database represents the grant information database purchased on the acquisition of j4b Software & Publishing Limited.  The database is 
carried at fair value less accumulated amortisation and accumulated impairment losses.  Amortisation is calculated using the straight line 
method over a period of 5 years.  
I m p a i r m e nt
For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows 
(cash-generating units).  As a result, some assets are tested individually for impairment and some are tested at cash-generating unit level.  
Goodwill is allocated to those cash-generating units that are expected to benefit from synergies of the related business combination and 
represent the lowest level within the group at which management monitors the related cash flows.
Goodwill, other individual assets or cash-generating units that include goodwill, other intangible assets with an indefinite useful life, and 
those intangible assets not yet available for use are tested for impairment at least annually.  All other individual assets or cash-generating 
units are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.
An impairment loss is recognised for the amount by which the asset’s or cash-generating unit’s carrying amount exceeds its recoverable 
amount.  The recoverable amount is the higher of fair value, reflecting market conditions less costs to sell, and value in use based on an 
internal discounted cash flow evaluation.  Impairment losses recognised for cash-generating units, to which goodwill has been allocated, 
are credited initially to the carrying amount of goodwill.  Any remaining impairment loss is charged pro rata to the other assets in the cash 
generating unit.  With the exception of goodwill, all assets are subsequently reassessed for indications that an impairment loss previously 
recognised may no longer exist.
 
P r o p e r t y ,	p l a n t	a n d	e q u i p m e n t
Items of property, plant and equipment are stated at cost less accumulated depreciation.
Depreciation is charged to the income statement using the following rates and bases so as to write off the cost or valuation of items of 
property, plant and equipment over their expected useful lives.  The rates generally applicable are:
Computer hardware          50% and 100% straight line
Fixtures, fittings and equipment      25% straight line
Library books and journals        33 1/3% straight line
Useful economic lives and residual values are reviewed annually. 31 IDOX plc Annual Report and Accounts 2009
N o t e s	t o	t h e	A c c o u n t s	c o n t ’ d
For the year ended 31 October 2009
E m p l o y e e	b e n e fi t s
D e fi n e d	c o n t r i b u t i o n	p e n s i o n	p l a n s
Contributions paid to private pension plans of certain employees are charged to the income statement in the period in which they become 
payable. Contributions paid to the group personal pension plans of employees are charged to the income statement in the period in which 
they become payable.
S h a r e - b a s e d	p a y m e n t	t r a n s a c t i o n s
All share-based payment arrangements granted after 7 November 2002 that had not vested prior to 1 November 2006 are recognised in the 
financial statements.
All goods and services received in exchange for the grant of any share-based payment are measured at their fair values.  Where employees 
are rewarded using share-based payments, the fair values of employees’ services are determined indirectly by reference to the fair value 
of the instrument granted to the employee.  This fair value is appraised at the grant date and excludes the impact of non-market vesting 
conditions (for example, profitability and sales growth targets).
All equity-settled share-based payments are ultimately recognised as an expense in the income statement with a corresponding credit to the 
share option reserve.
If vesting periods or other non-market vesting conditions apply, the expense is allocated over the vesting period, based on the best available 
estimate of the number of share options expected to vest.  Estimates are revised subsequently if there is any indication that the number 
of share options expected to vest differs from previous estimates.  Any cumulative adjustment prior to vesting is recognised in the current 
period.  No adjustment is made to any expense recognised in prior periods if share options that have vested are not exercised.
Upon exercise of share options, the proceeds received net of attributable transaction costs are credited to share capital, and where 
appropriate share premium.
R e ser ve s
Equity comprises the following:
•	 “ S h a r e	p r e m i u m ”	r e p r e s e n t s	t h e	e x c e s s	o v e r	n o m i n a l	v a l u e	o f	t h e	f a i r	v a l u e	o f	c o n s i d e ra t i o n	r e c e i v e d	f o r	e q u i t y	s h a r e s ,	n e t	o f	e x p e n s e s	o f	
the share issue.
•	 “ C a p i t a l	r e d e m p t i o n	r e s e r v e ”	r e p r e s e n t s	w h e n	t h e	e n t i r e	d e f e r r e d	o r d i n a r y	s h a r e	c a p i t a l	w a s	b o u g h t	i n	e x c h a n g e	f o r	o n e	o r d i n a r y	1 p	
share. 
•	 “ M e r g e r	r e s e r v e ”	w h i c h	a r o s e	a s	a	r e s u l t	o f	a	g r o u p	r e c o n s t r u c t i o n	t h a t	o c c u r r e d	i n	1 7	N o v e m b e r	2 0 0 0 .		T h i s	r e p r e s e n t s	t h e	i s s u e d	s h a r e	
capital and share premium account in the Company’s subsidiary undertaking, IDOX Software Limited.
•	 “ S h a r e	o p t i o n s	r e s e r v e ”	r e p r e s e n t s	s h a r e s	t o	b e	i s s u e d	o n	p o t e n t i a l	e x e r c i s e	o f	t h o s e	s h a r e	o p t i o n s	t h a t	h a v e	b e e n	a c c o u n t e d	f o r	u n d e r	
“IFRS 2 Share Based Payments”.
•	 “ E S O P	t r u s t ”	r e p r e s e n t s	s h a r e	c a p i t a l	p u r c h a s e d	t o	s a t i s f y	t h e	li a b ili t y	o f	t h e	e m p l o y e e	s h a r e	s c h e m e .	P u r c h a s e d	s h a r e s	a r e	c l a s s i fi e d	
within the ESOP trust reserve and presented as a deduction from total equity.
•	 “ R e t a i n e d	e a r n i n g s ”	r e p r e s e n t s	r e t a i n e d	p r o fi t s .
•	 “ T r e a s u r y	r e s e r v e ’	r e p r e s e n t s	s h a r e s	r e p u r c h a s e d	b y	t h e	c o m p a n y	t o	b e	h e l d	f o r	r e d i s t r i b u t i o n	a s	s h a r e	o p t i o n s .
t axation
Tax on the profit or loss for the year comprises current and deferred tax.  Current tax is charged to the income statement except to where it 
relates to tax on items recognised directly in equity, in which case it is charged to equity.
Current tax is the tax currently payable based on taxable profit for the year. 32 IDOX plc Annual Report and Accounts 2009
N o t e s	t o	t h e	A c c o u n t s	c o n t ’ d
For the year ended 31 October 2009
Deferred income taxes are calculated using the liability method on temporary differences.  Deferred tax is generally provided on the 
difference between the carrying amounts of assets and liabilities and their tax bases.  However, deferred tax is not provided on the initial 
recognition of goodwill, nor on the initial recognition of an asset or liability unless the related transaction is a business combination or 
affects tax or accounting profit.  Deferred tax on temporary differences associated with shares in subsidiaries and joint ventures is not 
provided if reversal of these temporary differences can be controlled by the group and it is probable that reversal will not occur in the 
foreseeable future.  In addition, tax losses available to be carried forward as well as other income credits to the group are assessed for 
recognition as deferred tax assets.
Deferred tax liabilities are provided in full, with no discounting.  Deferred tax assets are recognised to the extent that it is probable that 
the underlying deductible temporary differences will be able to be offset against future taxable income.  Current and deferred tax assets 
and liabilities are calculated at tax rates that are expected to apply to their respective period of realisation, provided they are enacted or 
substantively enacted at the balance sheet date.
Changes in deferred tax assets or liabilities are recognised as a component of tax expense in the income statement, except where they relate 
to items that are charged or credited directly to equity in which case the related deferred tax is also charged or credited directly to equity.
Operating leases
All leases are operating in nature.  Amounts paid under operating leases are charged to the income statement on a straight line basis over 
the lease term.
F i n a n c i a l	i n s t r u m e n t s
Financial assets and financial liabilities are recognised on the Group’s balance sheet when the Group has become a party to the contractual 
provisions of the instrument.
t r a d e	a n d	o t h e r	r e c e i v a b l e s
Trade receivables do not carry any interest and are initially stated at their fair value, as reduced by appropriate allowances for estimated 
irrecoverable amounts.  All receivables are considered for impairment.  Provision against trade receivables is made when there is objective 
evidence that the group will not be able to collect all amounts due in accordance with the original terms of those receivables.  The amount of 
the write-down is determined as the difference between the assets carrying value and the present value of estimated future cash flows.
C a s h	a n d	c a s h	e q u i v a l e n t s
Cash and cash equivalents comprise cash on hand and on deposit and are subject to an insignificant risk of changes in value.  
F i n a n c i a l	l i a b i l i t i e s	a n d	e q u i t y
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.  An equity 
instrument is any contact that evidences a residual interest in the assets of the group after deducting all of its financial liabilities.
B a n k	b o r r o w i n g s
Interest-bearing bank loans and overdrafts are recorded initially at fair value, net of direct transaction costs.  Such instruments are 
subsequently carried at their amortised cost and finance charges, including premiums payable on settlement or redemption, are recognised 
in the income statement over the term of the instrument using an effective rate of interest.
t r a d e	a n d	o t h e r	p a ya b l e s
Trade and other payables are not interest bearing, are initially stated at their fair value and subsequently at amortised cost.
E q u i t y	i n s t r u m e n t s
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. 33 IDOX plc Annual Report and Accounts 2009
N o t e s	t o	t h e	A c c o u n t s	c o n t ’ d
For the year ended 31 October 2009
D e r i v a t i v e	fi n a n c i a l	i n s t r u m e n t s
The Group’s activities expose the entity primarily to interest rate risk.  The Group previously used interest rate swap contracts to manage 
these exposures.  The Group does not use derivative financial instruments for speculative purposes.  The use of financial derivatives is 
governed by the Group’s policies approved by the board of directors, which provide written principles in the use of financial derivatives.  
Derivative financial instruments are accounted for at fair value through profit or loss.  The Group does not apply hedge accounting. 
2 	 S E G M E N t A l	 A N A l y S I S
As at 31 October 2009, the Group is primarily organised into three main business segments, which are detailed below.
Financial information is reported to the Board on a business unit basis with revenue and operating profits split by business unit.  Each 
business unit is deemed a reportable segment as each offer different products and services.
•	 S o f t w a r e	–	d e li v e r s	s o f t w a r e	a n d	s e r v i c e	s o l u t i o n s	t o	m a i n l y	l o c a l	g o v e r n m e n t	c u s t o m e r s	a c r o s s	a	b r o a d	ra n g e	o f	d e p a r t m e n t s
•	 S o l u t i o n s	–	d e li v e r i n g	b o t h	a n	i n f o r m a t i o n	s e r v i c e	a n d	c o n s u l t a n c y	s e r v i c e s	t o	a	d i v e r s e	ra n g e	o f	c u s t o m e r s	a c r o s s	b o t h	p r i v a t e	a n d	p u b li c	
sectors
•	 R e c r u i t m e n t	–	p r o v i d i n g	p e r s o n n e l	w i t h	i n f o r m a t i o n ,	k n o w l e d g e ,	r e c o r d s	a n d	c o n t e n t	m a n a g e m e n t	e x p e r t i s e	t o	a	d i v e r s e	ra n g e	o f	
customers 
Segment revenue comprises of sales to external customers and excludes gains arising on the disposal of assets and finance income. Segment 
profit reported to the board represents the profit earned by each segment before the allocation of tax, interest payments and share option 
charges.
Relevant assets and liabilities are allocated to reportable segments in line with the percentage of total revenue.  
The Group does not place reliance on any specific customer and has no individual customer that generates 10% or more of its total Group 
revenue.
The segment revenues by geographic location for the year ended 31 October 2009 are as follows:
United Kingdom
£000
Netherlands
£000
Total
£000
Revenues from external customers 31,856 308 32,164
No geographic revenue disclosure was required in 2008 as the company did not have any operations outside of the United Kingdom.
The segment results by business unit for the year ended 31 October 2009 are as follows:
Software
£000
Solutions
£000
Recruitment
£000
Total
£000
Revenues from external customers 25,053 3,352 3,759 32,164
Interest revenue
22 3 4 29
Interest expense - - - -
Net interest revenue 22 3 4 29
Depreciation 291 79 2 372
Amortisation 1,039 73 - 1,112
Impairment of goodwill - 533 - 533 34 IDOX plc Annual Report and Accounts 2009
N o t e s	t o	t h e	A c c o u n t s	c o n t ’ d
For the year ended 31 October 2009
Segment profit/(loss) (see reconciliation below) 5,469 (411) (33) 5,025
Segment total assets 11,972 1,501 1,684 15,157
Expenditures on segment non-current assets 475 120 - 595
Segment total liabilities 9,062 1,212 1,360 11,634
The segment results for the year ended 31 October 2008 are as follows:
Software
£000
Solutions
£000
Recruitment
£000
Total
£000
Revenues from external customers 27,060 2,556 4,418 34,034
Interest revenue 222 21 20 263
Interest expense (4) - - (4)
Net interest revenue 218 21 20 259
Depreciation 259 66 15 340
Amortisation 920 - - 920
Segment profit/(loss) (see reconciliation below) 7,509 (234) 226 7,501
Segment total assets 13,743 1,228 2,165 17,136
Expenditures on segment non-current assets 294 23 3 320
Segment total liabilities 10,203 957 1,655 12,815
Segment result of Recruitment includes an impairment loss in relation to goodwill of Nil (2007: £400,000).
R e c o n c i l i a t i o n s	o f	r e p o r t a b l e	p r o fi t / ( l o s s )	a n d	a s s e t s	a n d	l i a b i l i t i e s :
2009 2008
£000 £000
P r ofi t / ( l o s s ) :
Total profit for reportable segments 5,025 7,501
Other financial costs (546) (932)
Profit before taxation 4,479 6,569
A s s e t s :
Total assets for reportable segments 15,157 17,136
Goodwill and intangible assets 31,932 31,480
Total assets 47,089 48,616
l i a b ilit i e s :
Total liabilities for reportable segments 11,634 12,815
Borrowings 3,781 6,696
Deferred taxation 3,501 3,659
Total liabilities 18,916 23,170 35 IDOX plc Annual Report and Accounts 2009
N o t e s	t o	t h e	A c c o u n t s	c o n t ’ d
For the year ended 31 October 2009
Other financial costs relate to loan interest and a one off swap interest charge paid by IDOX plc, which along with the loan have not been 
included in reportable segments. Goodwill and intangible fixed assets (other than development costs) and related deferred tax entries are 
held at consolidation level only and are therefore shown as reconciling items.
3 	 O P E R At I N G 	 P R O F I t	 F O R 	t h E 	y E A R 
Operating profit for the year has been arrived at after charging: 
2009 2008
£000 £000
Auditors’ remuneration:
- Fees payable to the company’s auditor of the company’s annual accounts 25 26
- The audit of the company’s subsidiaries, pursuant to legislation 48 50
- Other services pursuant to legislation 16 16
- Tax services 13 9
Bank facility fee amortisation 85 85
Operating lease rentals – buildings 313 348
Depreciation – property, plant & equipment, owned 372 340
Amortisation of intangibles 1,112 920
Equity-settled share-based payments 99 108
Net exit charge of derivative swap instrument 48 -
4 	 D I R E C t O R S 	 A N D 	 E M P l Oy E E S
Staff costs during the year were as follows:
2009 2008
£000 £000
Wages and salaries 12,183 13,073
Social security costs 1,380 1,306
Pension costs 463 366
14,026 14,745
During the year the group incurred restructuring costs of £427,000 (2008: Nil). The restructuring costs represent redundancy payments to 
former staff.
The average number of employees of the group during the year was 304 (2008: 296) and is made up as follows:
2009 2008
No No
Office and administration (including Directors of the company and its subsidiary undertakings) 43 43
Software sales 32 33
Development 83 87
Operations 89 90
Solutions 32 14
Recruitment 25 29
304 296 36 IDOX plc Annual Report and Accounts 2009
N o t e s	t o	t h e	A c c o u n t s	c o n t ’ d
For the year ended 31 October 2009
Remuneration in respect of directors was as follows:
2009 2008
£000 £000
Emoluments 471 521
Pension contributions 15 4
Share based payment charge 99 54
Compensation for loss of office - 120
585 699
The amounts set out above include remuneration in respect of the highest paid director as follows: 
2009 2008
£000 £000
Aggregate emoluments 181 309
Pension contributions 11 4
192 313
Details of the remuneration for each director are included in the remuneration report which can be found on page 15 but which do not form 
part of the audited accounts.
5 	 F I N A N C E 	 I N CO M E 	 A N D 	 CO S t S
2009 2008
£000 £000
Interest receivable 29 263
Bank loans interest payable (353) (720)
Bank loan facility fee amortisation (85) (85)
Fair value gain / (loss) on financial liabilities recognised in profit or loss 96 (96)
Exit charges from derivatives (see note 19) (144) -
Net finance costs (457) (638)
6 	D I v I D E N D S
2009 2008
£000 £000
Final dividend paid in respect of the year ended 31 October 2008 and 31 October 2007 395 343
Pence per ordinary share 0.115p 0.1p
Interim dividend paid in respect of the year ended 31 October 2009 277 -
Pence per ordinary share 0.08p -
The directors have proposed the payment of a final dividend of 0.12p per share, which would amount to £413,000 (2008: 0.115p). 37 IDOX plc Annual Report and Accounts 2009
N o t e s	t o	t h e	A c c o u n t s	c o n t ’ d
For the year ended 31 October 2009
7 	I N CO M E	 t A X
The tax charge is made up as follows:
2009 2008
£000 £000
C u r r e n t	t a x
Corporation tax on profits for the period 1,637 2,149
Over provision in respect of prior periods (384) (272)
Total current tax 1,253 1,877
D e f e r r e d	t a x
Origination and reversal of temporary differences (321) (205)
Adjustments in respect of prior periods 88 113
Total deferred tax (233) (92)
Total tax charge 1,020 1,785
Unrelieved trading losses of £116,000 (2008: £121,000) which, when calculated at the standard rate of corporation tax in the United Kingdom 
of 28% (2008: 28%), amounts to £32,000 (2008: £33,880). These remain available to offset against future taxable trading profits. 
Factors affecting the tax charge in the period:
2009 2008
£000 £000
Profit before taxation 4,479 6,569
Profit on ordinary activities multiplied by the standard
rate of corporation tax in the UK of 28% (2008: 28%) 1,254 1,839
Effects of:
Expenses not deductible for tax purposes 49 262
Share based payments (62) 217
Capital allowances in excess of depreciation - 19
Difference in tax rate (2) 84
Adjustments to tax charge in respect of prior year (296) (158)
Net movement on deferred tax on intangibles 77 (478)
1,020 1,785 38 IDOX plc Annual Report and Accounts 2009
N o t e s	t o	t h e	A c c o u n t s	c o n t ’ d
For the year ended 31 October 2009
8 	 E A R N I N G S 	 P E R 	 S h A R E
The earnings per ordinary share is calculated by reference to the earnings attributable to ordinary shareholders divided by the weighted 
average number of shares in issue during each period, as follows:
2009 2008
£000 £000
Profit for the year 3,459 4,784
Basic earnings per share
Weighted average number of shares in issue 342,706,522 342,059,867
Basic earnings per share 1.01p 1.40p
D i l u t e d	e a r n i n g s	p e r	s h a r e
Weighted average number of shares in issue used in basic earnings per share calculation 342,706,522 342,059,867
Dilutive share options 3,890,563 5,061,729
Weighted average number of shares in issue used in dilutive earnings per share calculation
346,597,085 347,121,596
Diluted earnings per share 1.00p 1.38p
N o r m a l i s e d	e a r n i n g s	p e r	s h a r e
Addback:
Amortisation 1,112 920
Impairment 533 -
Share option costs 99 108
Restructuring costs 427 -
Normalised profit for year 5,630 5,812
Weighted average number of shares in issue 342,706,522 342,059,867
Normalised earnings per share 1.64p 1.70p
In the prior year financial statements, profit was adjusted for interest rate swaps in the calculation of normalised EPS. This has not been 
included in this year’s normalised EPS calculation. The 2008 comparative normalised EPS has been adjusted to enable a like-for-like 
comparison to the 2009 amount. As a result, the 2008 amount has reduced from the reported 1.73p in last year’s financial statements to 
1.70p. 39 IDOX plc Annual Report and Accounts 2009
N o t e s	t o	t h e	A c c o u n t s	c o n t ’ d
For the year ended 31 October 2009
9 	 P R O P E R t y , 	 P l A N t	 A N D 	 E Q U I P M E N t
Computer 
hardware
Fixtures, fittings 
and equipment
Library books 
and journals Total
£000 £000 £000 £000
Cost 
At 1 November 2007 1,320 703 463 2,486
Additions 146 120 25 291
Additions on acquisition 26 10 - 36
At 31 October 2008 1,492 833 488 2,813
Additions 467 8 120 595
Additions on acquisition 26 8 - 34
At 31 October 2009 1,985 849 608 3,442
D e pre ci a t i o n
At 1 November 2007 1,194 427 352 1,973
Provided in the year 152 123 65 340
At 31 October 2008 1,346 550 417 2,313
Provided in the year 167 139 66 372
At 31 October 2009 1,513 689 483 2,685
Net book amount at 31 October 2009 472 160 125 757
Net book amount at 31 October 2008 146 283 71 500
Net book amount at 1 November 2007 126 276 111 513
The Group has pledged the above assets having a net book value of approximately £757,000 (2008: £500,000) to secure banking facilities 
granted to the Group. 4 0 IDOX plc Annual Report and Accounts 2009
N o t e s	t o	t h e	A c c o u n t s	c o n t ’ d
For the year ended 31 October 2009
1 0 	 I N t A N G I B l E 	 F I X E D 	 A S S E t S
Goodwill
Customer 
relationships Trade names Software
Development 
costs Database Total
£000 £000 £000 £000 £000 £000 £000
Cost 
At 1 November 2007 18,706 5,860 2,500 3,050 - - 30,116
Additions on acquisition 2,059 1,160 520 840 153 - 4,732
Additions - - - - 353 - 353
At 31 October 2008 20,765 7,020 3,020 3,890 506 - 35,201
Additions on acquisition 903 254 205 - - 406 1,768
Additions - - - 45 419 - 464
Fair value adjustment 134 - - - - - 134
At 31 October 2009 21,802 7,274 3,225 3,935 925 406 37,567
A m o r t i s a t i o n	a n d	i m p a i r m e n t	
losses
At 1 November 2007 2,032 146 63 153 - - 2,394
Amortisation for the year - 352 152 390 26 - 920
At 31 October 2008 2,032 498 215 543 26 - 3,314
Impairment 533 - - - - - 533
Amortisation for the year - 369 162 390 150 41 1,112
At 31 October 2009 2,565 867 377 933 176 41 4,959
Carrying amount at 31 October 
2009 19,237 6,407 2,848 3,002 749 365 32,608
Carrying amount at 31 October 
2008 18,733 6,522 2,805 3,347 480 - 31,887
Carrying amount at 1 November 
2007 16,674 5,714 2,437 2,897 - - 27,722
During the year, goodwill was reviewed for impairment in accordance with IAS 36, Impairment of assets. Impairment charges of £533,000 
(2008: Nil) arose as a result of this review. The impairment charge relates to the Consulting division of TFPL, included within the Solutions 
business. Given current market conditions, the Directors believe that it is prudent to recognise the impairment charge.
The current year fair value adjustment of £134,000 includes £113,000 which related to an increase in the dilapidation provision in respect of 
the Southwark Street property acquired with the acquisition of Plantech. 41 IDOX plc Annual Report and Accounts 2009
N o t e s	t o	t h e	A c c o u n t s	c o n t ’ d
For the year ended 31 October 2009
The remaining useful lives and carrying value of the above intangibles assets is as follows:
2009 2008 2009 2008
Remaining 
amortisation 
period (years)
Remaining 
amortisation 
period (years)
Carrying value
£000
Carrying value
£000
C A P S	i n t a n g i b l e s :
Customer relationships 17.5 18.5 5,130 5,421
Trade names 17.5 18.5 2,185 2,312
Software 7.5 8.5 2,285 2,592
P l a n t e c h	i n t a n g i b l e s :
Customer relationships 18 19 1,042 1,101
Trade names 18 19 468 493
Software 8 9 672 755
j 4 b	i n t a n g i b l e s :
Customer relationships (product) 4.5 - 112 -
Customer relationships (project) 9.5 - 124 -
Trade names 9.5 - 195 -
Database 4.5 - 365 -
For this review goodwill was allocated to individual Cash Generating Units (CGU) on the basis of the Group’s operations. The carrying value 
of goodwill by each CGU is as follows:
2009 2008
£000 £000
C a s h	G e n e r a t i n g	U n i t s	( C G U )
Software
15,970 15,836
IIS
407 407
TFPL Recruitment
1,957 1,957
TFPL Consulting
- 533
j4b
903 -
19,237 18,773
With the exception of software, the recoverable amount of all CGU’s has been determined using value-in-use calculations.  These calculations 
use pre-tax cash flow projections based on financial budgets approved by management covering the next five financial years.  Cash flows 
beyond this period are extrapolated using the estimated growth rates stated below.
The recoverable amount of the Software CGU has been determined based on fair value less costs to sell using an earnings based multiplier 
derived from comparable software industry data, and adjusted for a control premium.  The key assumption used in this calculation is the 
earnings based multiplier, which as stated, is derived from comparable software industry data.
For value in use calculations, the growth rates and margins used to estimate future performance are based on management’s best estimate 
of short term performance based on an assessment of market opportunities and macro economic conditions. In the year to 31 October 2009 
the Weighted Average Cost of Capital for the Group has been used as an appropriate discount rate to apply to cash flows.  This represents 
the overall required return on the Group as a whole and is also considered appropriate to each CGU. 42 IDOX plc Annual Report and Accounts 2009
N o t e s	t o	t h e	A c c o u n t s	c o n t ’ d
For the year ended 31 October 2009
The assumptions used for the value in use calculations are as follows and are considered appropriate for each of the risk profiles of the 
respective CGU:
2009 2008
Discount rate 12.5% 12.5%
Growth rate 2% 2%
These assumptions have been used for the analysis of each CGU. 
Sensitivities have been run on both value in use and fair value less cost of sale impairment calculations. Management are satisfied that the 
key assumptions are achievable and that they would not lead to the carrying amount of the relevant CGU exceeding the recoverable amount.  
This is with the exception of the TFPL Consulting CGU which, as a result of sensitivity calculations, and based on an assessment of historical 
results, was, as noted previously, impaired by £533,000.
1 1 	 F I N A N C I A l	 A S S E t S 	 A N D 	l I A B I l I t I E S
C a t e g o r i e s	o f	fi n a n c i a l	a s s e t s	a n d	l i a b i l i t i e s
The disclosures detailed below are as required by IFRS 7 Financial Instruments: Disclosures.  The carrying amounts presented on the Balance 
Sheet relate to the following categories of assets and liabilities:
2009 2008
Financial assets Note £000 £000
l o a n s	a n d	r e c e i v a b l e s :
Trade and other receivables 13 5,648 7,039
Cash and cash equivalents 12 6,947 7,688
12,595 14,727
2009 2008
Financial liabilities Note £000 £000
F i n a n c i a l	l i a b i l i t i e s	c a r r i e d	a t	f a i r	v a l u e	t h r o u g h	p r o fi t	o r	l o s s :
Derivative financial instruments 19 - (96)
F i n a n c i a l	l i a b i l i t i e s	m e a s u r e d	a t	a m o r t i s e d	c o s t :
Non-current:
Borrowings 17 2,781 5,696
Trade and other payables 14 - 422
2,781 6,118
Current:
Borrowings 17 1,000 1,000
Trade and other payables 14 3,171 2,845
4,171 3,845 43 IDOX plc Annual Report and Accounts 2009
N o t e s	t o	t h e	A c c o u n t s	c o n t ’ d
For the year ended 31 October 2009
12 	C A S h 	A N D	C A S h 	E Q U I v A l E N t S
2009 2008
£000 £000
Cash at bank and in hand 6,947 7,688
Cash and cash equivalents per cash flow statement 6,947 7,688
13 	t R A D E 	 A N D 	 O t h E R 	 R E C E I v A B l E S
2009 2008
£000 £000
Trade receivables, gross 4,508 6,815
Allowance for credit losses (380) (492)
Trade receivables, net 4,128 6,323
Amounts recoverable on contracts 1,360 637
Other receivables 160 79
Financial assets 5,648 7,039
Prepayments and accrued income 814 1,237
Non-financial assets 814 1,237
Trade and other receivables 6,462 8,276
All of the closing Group trade receivables are UK Sterling with the exception of j4b Nederland BV (72,726 Euros).
Amounts recoverable on contracts represent work completed and delivered to the customer, but due to the contractual payment terms have 
not yet been invoiced. 44 IDOX plc Annual Report and Accounts 2009
N o t e s	t o	t h e	A c c o u n t s	c o n t ’ d
For the year ended 31 October 2009
C r e d i t	q u a l i t y	o f	fi n a n c i a l	a s s e t s
The maximum exposure for the Group to credit risk for trade receivables at the reporting date by type of customer was:
2009 2008
£000 £000
Local authorities and other public bodies 3,574 5,377
Private companies 934 1,438
4,508 6,815
The ageing of trade receivables at the reporting date for the Group was:
Gross Impairment Gross Impairment
2009 2009 2008 2008
£000 £000 £000 £000
Not past due 2,838 - 3,944 -
Past due 0 to 30 days 414 - 428 -
Past due 31 to 60 days 80 - 380 -
More than 61 days 1,176 380 2,063 492
4,508 380 6,815 492
Movements in the provision for impairment of receivables for the Group were as follows:
2009 2008
£000 £000
At 1 November 492 472
Charge for the year 26 20
Utilised (138) -
At 31 October 380 492
The provision allowance in respect of trade receivables is used to record impairment losses unless the Group is satisfied that no recovery 
of the amount owing is possible.  At that point the amounts are considered irrecoverable and are written off against the trade receivable 
directly.  Where trade receivables are past due an assessment is made of individual customers and the outstanding balance.  No provision is 
required in respect of amounts owed by group undertakings.
The credit quality of the holder of the Cash at bank is AA rated. 4 5 IDOX plc Annual Report and Accounts 2009
N o t e s	t o	t h e	A c c o u n t s	c o n t ’ d
For the year ended 31 October 2009
1 4 	 t R A D E 	 A N D 	 O t h E R 	 P A y A B l E S	
2009 2008
£000 £000
Trade payables 1,281 1,338
Accruals 1,890 1,929
3,171 3,267
Of the trade and other payables of £3,171,000 (2008: £3,267,000), current and non-current balances amount to £3,171,000 (2008: £2,845,000) 
and £Nil (2008: £422,000) respectively.  The carrying values of trade and other payables are considered to be a reasonable approximation 
of fair value.  Accruals represent liabilities which have been recognised at the balance sheet date.  This amount will reduce the invoices and 
payments to which the balance relates are received and paid.  The majority of this will be released during the next six months.
15 	 O t h E R 	l I A B I l I t I E S
2009 2008
£000 £000
Social security and other taxes 450 1,329
Other payables 775 449
Deferred income 6,913 6,335
8,138 8,113
Deferred income represents software revenue where billing milestones have been reached but the appropriate proportion of work has not been 
completed and maintenance and subscription revenues which are spread over the period, typically one year, for which the service is supplied.
16 	 P R O v I S I O N S
2009 2008
£000 £000
At 1 November 370 574
Provision made during the year 138 -
Provision released during the year (147) -
Provision utilised during the year (223) (204)
At 31 October 138 370
The opening provision related to an onerous contract for a five year hosting agreement entered into in 2007 by CAPS Solutions Ltd prior to 
its acquisition by IDOX plc.  During the year further negotiations resulted in the Group terminating the contract early resulting in a release of 
£147,000 of the outstanding provision.
The remaining year end provision of £138,000 relates to estimated dilapidation costs that are expected to arise on exit of leased properties. 
This provision was previously held in accruals. 46 IDOX plc Annual Report and Accounts 2009
N o t e s	t o	t h e	A c c o u n t s	c o n t ’ d
For the year ended 31 October 2009
1 7 	 B O R R O W I N G S	
All borrowings are held at amortised cost and after set-off for unamortised loan facility fees are summarised as follows:
2009 2008
£000 £000
C u r r e nt
Bank borrowings 1,000 1,000
N o n - c u r r e nt
Bank borrowings 2,781 5,696
Total borrowings 3,781 6,696
During the year the Group made an early repayment of £2.5m of the term loan in addition to the scheduled repayment of £0.5m. 
The average interest rate paid was 6.51% (2008: 9.42%).  Bank borrowings of £3,781,000 (2008: £6,696,000) were arranged at floating 
interest rates.
As security for the above loans, the Bank of Scotland Plc holds a bond and floating charge over the assets of the Group, a composite 
guarantee supported by each Group company and a share pledge in respect of the entire issued share capital of each subsidiary company.
The loans are repayable in six monthly instalments.  Interest on the loans is payable quarterly in arrears.
The directors’ estimate that the fair value of the Group’s borrowing is not significantly different to the carrying value.
1 8 	D E F E R R E D	 I N CO M E 	 t A X
Deferred tax assets and liabilities are summarised as follows:
2009 2008
£000 £000
Deferred tax assets 315 265
Deferred tax liabilities (current) - (250)
Deferred tax liabilities (non current) (3,501) (3,292)
(3,501) (3,542)
The movement in the year in the net deferred tax provision was as follows:
2009 2008
£000 £000
At 1 November (3,277) (2,663)
Credit to income for the year 308 92
Credit to equity 25 -
Charge to goodwill for the year (242) (706)
At 31 October (3,186) (3,277) 47 IDOX plc Annual Report and Accounts 2009
N o t e s	t o	t h e	A c c o u n t s	c o n t ’ d
For the year ended 31 October 2009
The movement in deferred income tax assets and liabilities during the year, is as follows:
Share-based 
payments
Other temporary 
differences
Total deferred 
tax asset
Accelerated tax 
depreciation
Total deferred 
tax liability
£000 £000 £000 £000 £000
At 1 November 2007 101 550 651 (3,314) (3,314)
Charge/(Credit) to income
Statement (80) (306) (386) 478 478
Deferred tax recognised on acquisition - - - (706) (706)
At 31 October 2008 21 244 265 (3,542) (3,542)
Charge/(Credit) to income 63 (38) 25 283 283
Charge/(Credit) to equity 25 - 25 - -
Deferred tax recognised on acquisition - - - (242) (242)
At 31 October 2009 109 206 315 (3,501) (3,501)
There were no unprovided deferred tax assets at 31 October 2009 or 31 October 2008. Included in the previous year accelerated tax 
depreciation amount of £478,000 is £228,000 arising from the impact of the tax rate change.
 
19 	 D E R I v At I v E 	 F I N A N C I A l	 I N S t R U M E N t S
The carrying amounts for the Group’s derivative financial instruments may be further analysed as follows:
2009 2008
£000 £000
F a i r	v a l u e :
Interest rate swap - 96
Derivative financial liabilities - 96
In the previous year, the Group utilised interest rates swaps to manage its exposure to interest rate movements on its bank borrowings. With 
the large fall in interest rates, the group exited from the use of floating-to-fixed interest rate swaps as it was financially beneficial to do so as 
exemplified by the large reduction in bank loan interest charges. The exit from forward contracts incurred one off charges of £144,000.  
The fair value of the contract was estimated using relevant market interest rates. 48 IDOX plc Annual Report and Accounts 2009
N o t e s	t o	t h e	A c c o u n t s	c o n t ’ d
For the year ended 31 October 2009
2 0 	 R I S k	 M A N AG E M E N t	 O B J E C t I v E S 	 A N D 	 P O l I C I E S
The Group’s principal financial instruments comprise cash and cash equivalents, short term deposits and bank borrowings. The main purpose 
of these financial instruments is to finance the Group’s operations. The Group has other financial instruments which mainly comprise trade 
receivables and trade payables which arise directly from its operations.
Risk management is carried out by the finance department under policies approved by the board of directors. The Group finance department 
identifies, evaluates and manages financial risks. The board provides guidance on overall risk management including foreign exchange risk, 
interest rate risk, credit risk, and investment of excess liquidity.
The impact of the risks required to be discussed under IFRS 7 are detailed below:
M a r k e t	r i s k
( i )		F o r e i g n	e x c h a n g e	r i s k
Foreign exchange risk arises when future commercial transactions or recognised assets or liabilities are denominated in a currency that is not 
the group’s functional currency.  The Group has little exposure to foreign exchange risk.  
( i i )		P r i c e	r i s k
The Group is not exposed to equity securities price risk because no investments are held by the group.  The Group is not exposed to 
commodity price risk.
( i i i )		C a s h	fl o w	a n d	f a i r	v a l u e	i n t e r e s t	r a t e	r i s k
The Group is exposed to interest rate risk is respect of cash balances held with banks and other highly rated counterparties. 
The Group’s main interest rate risk arises from long-term borrowings.  Borrowings issued at variable rates expose the group to cash flow 
interest rate risk.  Borrowings issued at fixed rates expose the group to fair value interest rate risk.  During 2009 and 2008, all the Group’s 
borrowings at variable rate were denominated in UK Sterling.
The Group no longer manages its cash flow interest rate risk by using floating-to-fixed interest rate swaps. 
With the large fall in interest rates over the financial year, the group exited from the strategy of using floating-to-fixed interest rate swaps as 
it was financially beneficial to do so as exemplified by the large reduction in bank loan interest charges. 
P o r t f o l i o	o f	i n t e r e s t	r a t e	d e r i v a t i v e	i n s t r u m e n t s :
Pay fixed 
notional
£000
Weighted 
average fixed 
interest rate %
Weighted 
average time to 
maturity years Maturity years
20 0 9
Sterling:
Interest rate swap - - - -
20 0 8
Sterling:
Interest rate swap 3,000 6.31 2.9 2011 49 IDOX plc Annual Report and Accounts 2009
N o t e s	t o	t h e	A c c o u n t s	c o n t ’ d
For the year ended 31 October 2009
C r e d i t	r i s k
The Group’s maximum exposure to credit risk is limited to the carrying amount of financial assets recognised at the reporting date, as 
summarised below:
2009 2008
£000 £000
C l a s s e s	o f	fi n a n c i a l	a s s e t s	–	c a r r y i n g	a m o u n t s
Cash and cash equivalents 6,947 7,688
Trade receivables 4,128 6,323
Amounts recoverable on contracts 1,360 637
Other receivables 160 79
Carrying amount 12,595 14,727
Credit risk is managed on a group basis.  Credit risks arise from cash and cash equivalents and deposits with banks and financial institutions, 
as well as credit exposures to customers, including outstanding receivables and committed transactions.  
The Group’s credit risk is primarily attributable to its trade receivables.  It is the policy of the Group to present the amounts in the balance 
sheet net of allowances for doubtful receivables, estimated by the Group’s management based on prior experience and the current economic 
environment. The Group reviews the reliability of its customers on a regular basis, such a review takes into account the nature of and the 
Group’s trading history with the customer.
The credit risk on liquid funds is limited because the counterparties are three banks with high credit-ratings assigned by international credit-
rating agencies. Management does not expect any losses from non-performance of these counterparties.
None of the Group’s financial assets are secured by collateral or other credit enhancements.
l i q u i d i t y	r i s k
The Group closely monitors its access to bank and other credit facilities in comparison to its outstanding commitments on a regular basis to 
ensure that it has sufficient funds to meet obligations of the group as they fall due.
The board receives regular debt management forecasts which estimate the cash inflows and outflows over the next twelve months, so that 
management can ensure that sufficient financing is in place as it is required.  Surplus cash within the Group is put on deposit in accordance 
with limits and counterparties agreed by the Board, the objective being to maximise return on funds whilst ensuring that the short-term 
cashflow requirements of the Group are met.
Detailed analysis of the debt facilities taken out and available to the group are disclosed in note 17. 50 IDOX plc Annual Report and Accounts 2009
N o t e s	t o	t h e	A c c o u n t s	c o n t ’ d
For the year ended 31 October 2009
As at 31 October 2009, the Group’s financial liabilities have contractual maturities (including interest payments where applicable) as 
summarised below:
Current Current Non-current Non-current
Within 6 months 6 – 12 months 1 – 5 years Later than 5 years
£000 £000 £000 £000
Bank borrowings 592 661 3,345 -
Trade and other payables 3,171 - - -
This compares to the maturity of the Group’s financial liabilities in the previous reporting period as follows:
Current Current Non-current Non-current
Within 6 months 6 – 12 months 1 – 5 years Later than 5 years
£000 £000 £000 £000
Bank borrowings 569 821 7,178 -
Trade and other payables 3,060 155 422 -
Derivative financial instruments:
Outflow (84) (70) (118) -
Inflow 69 37 71 -
The above amounts reflect the contractual undiscounted cashflows, which may differ from the carrying values of the liabilities at the 
reporting date.
C a p i t a l	r i s k	m a n a g e m e n t
The Group’s objectives when managing capital are to safeguard the Group’s ability to continue as a going concern in order to provide returns 
for shareholders and benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital. In order to 
maintain or adjust the capital structure, the group may adjust the amount of dividends paid to shareholders, return capital to shareholders, 
issue new shares or sell assets to reduce debts.
Capital for the reporting periods under review is summarised as follows:
2009 2008
£000 £000
Total equity 28,173 25,446
Less unrestricted cash and cash equivalents (note 12) (6,947) (7,688)
21,226 17,758
Total equity 28,173 25,446
Borrowings 3,781 6,696
31,954 32,142
Capital-to-overall financing ratio 0.66 0.55 51 IDOX plc Annual Report and Accounts 2009
N o t e s	t o	t h e	A c c o u n t s	c o n t ’ d
For the year ended 31 October 2009
21 	 S h A R E 	 C A P I t A l
2009 2008
£000 £000
Authorised:
650,000,000 ordinary shares of 1p each (2008: 650,000,000) 6,500 6,500
Allotted, called up and fully paid
As at 1 November 3,442 3,420
Issue of share capital - 22
344,158,366 ordinary shares of 1p each (2008: 344,158,366) 3,442 3,442
M o v e m e n t	i n	i s s u e d	s h a r e	c a p i t a l	i n	t h e	y e a r
During the year to 31 October 2009, 1 former employee exercised share options.  On 5 June 2009, 300,000 share options were exercised at an 
exercise price of 7.5p per share. Shares were utilised from the Treasury Reserve to satisfy the exercise of the options. See note 22 for further 
details on share options. 
The company has one class of ordinary shares which carry no right to fixed income.
At 31 October 2009, there were 572,244 (2008: 486,178) shares in issue under ESOP.  During the year the average issue share price was 10.8p 
(2008: 11.9p).
2 2 	 S h A R E 	 O P t I O N S
The company has an unapproved share option scheme for all employees (including directors). All share options are exercisable at a price 
equal to the average market price of the company’s shares on the date of grant. The vesting period is usually 1 to 3 years. The options are 
settled in equity once exercised.  
Details of all share options over 1p Ordinary shares, falling within the measurement and recognition criteria of IFRS 2 “Share-based 
Payment”, including their contractual life and exercise prices are as follows:
At start of year Exercised At end of year Exercise price
Exercise date 
from
Exercise date 
to
4,500,000 - 4,500,000 6.50p Feb 2007 Oct 2011
4,500,000 - 4,500,000 9.00p Feb 2007 Oct 2014
1,500,000 - 1,500,000 7.50p May 2007 Feb 2013
266,000 - 266,000 7.50p May 2007 May 2013
900,000 (300,000) 600,000 7.50p May 2007 May 2017
615,385 - 615,385 8.13p Jun 2007 Oct 2014
550,000 - 550,000 15.00p Dec 2007 Jun 2011
960,000 - 960,000 12.50p May 2008 May 2018
1,192,308 - 1,192,308 13.00p Aug 2008 Aug 2014
1,033,334 - 1,033,334 15.00p Aug 2008 Aug 2014
16,017,027 (300,000) 15,717,027 52 IDOX plc Annual Report and Accounts 2009
N o t e s	t o	t h e	A c c o u n t s	c o n t ’ d
For the year ended 31 October 2009
The following table sets out the number of share options and associated WAEP outstanding during the year.
2009 2008
WAEP WAEP
No Pence No Pence
Outstanding at the beginning of the year 16,017,027 8.13 16,781,385 8.22
Granted during the year - - 3,735,642 -
Exercised during the year (300,000) 7.5 (1,230,769) 8.13
Forfeited during the year - - (3,269,231) 9.25
Outstanding at the end of the year 15,717,027 8.13 16,017,027 8.13
Exercisable at the end of the year 11,564,029 11.75 11,564,029 11.75
The share options outstanding at the end of the year have a weighted average remaining contractual life of 3.5 years. 
The fair values were calculated using the Black-Schöles Pricing Model and the following information.
Date of issue
Number 
granted
Weighted 
average share 
price
Weighted 
average 
exercise price
Expected 
volatility Expected life Risk free rate
Expected 
dividend yield
Weighted 
average fair 
value at grant 
date
No. pence pence % Years % % £
2007:
Feb 07 4,500,000 6.50 6.50 48.00 3.5 4.25 0.6 0.03
Feb 07 4,500,000 6.50 9.00 48.00 3.5 4.25 0.6 0.03
May 07 2,716,000 7.50 7.50 48.00 3.5 4.25 0.6 0.03
Jun 07 2,865,385 8.13 8.13 48.00 3.5 4.25 0.6 0.03
Jun 07 2,250,000 11.13 11.13 48.00 3.5 4.25 0.6 0.03
2008:
Dec 07 550,000 8.00 8.00 48.00 3.5 5.00 0.6 0.03
May 08 960,000 12.50 12.50 48.00 3.5 5.00 0.6 0.05
Aug 08 1,192,308 13.00 13.00 48.00 3.5 5.00 0.6 0.06
Aug 08 1,033,334 13.00 15.00 48.00 3.5 5.00 0.6 0.05
Expected volatility was determined by calculating the historical volatility of the company’s share price over the previous 3 years. The 
expected life used in the model has been adjusted, based on the management’s best estimate, for the effects of non-transferability, exercise 
restrictions and behavioural considerations.
The company recognised total expenses of £99,000 (2008 - £108,000) related to equity-settled share-based payment transactions during the 
year.
t r a n s i t i o n a l	P r o v i s i o n s
Under the transitional provisions of IFRS 2 share options granted prior 7 November 2002 but not vested at 1 November 2006 fall outwith the 
measurement and recognition criteria of IFRS 2 “Share-based Payment”. 53 IDOX plc Annual Report and Accounts 2009
N o t e s	t o	t h e	A c c o u n t s	c o n t ’ d
For the year ended 31 October 2009
Details of all such share options over 1p Ordinary shares, including their contractual life and exercise prices, are as follows:
At start and 
end of year
Exercise
price
Exercise date
from
Exercise date
to
1,500,000 12.75p Nov 2001 Jun 2010
166,667 12.00p Dec 2003 Dec 2013
1,666,667 12.00p Jun 2002 Dec 2012
645,159 15.50p Jul 2004 Jul 2014
516,129 15.50p Jan 2003 Jul 2013
1,032,258 15.50p Oct 2004 Feb 2015
1,863,636 11.00p Apr 2004 Oct 2012
173,913 11.50p Oct 2006 Oct 2016
4,000,000 10.00p Sep 2004 May 2014
11,564,429
For those share options the table below summarises the number of these share options and the associated weighted average exercise price 
(WAEP) outstanding during the year.
2009 2008
WAEP WAEP
No Pence No Pence
Outstanding at the beginning of the year 11,564,429 11.75 12,564,429 11.75
Granted during the year - - - -
Exercised during the year - - (1,000,000) 10.00
Outstanding at the end of the year 11,564,429 - 11,564,429 11.75
Exercisable at the end of the year 11,564,429 - 11,564,429 11.75 54 IDOX plc Annual Report and Accounts 2009
N o t e s	t o	t h e	A c c o u n t s	c o n t ’ d
For the year ended 31 October 2009
2 3 	 ACQ U I S I t I O N S
On 23 April 2009, the Group acquired the entire share capital of j4b Software and Publishing Limited for a consideration of £1.1m, which 
was satisfied in cash.  Goodwill arising on the acquisition of j4b Software and Publishing Limited has been capitalised.  The purchase of j4b 
Software and Publishing Limited has been accounted for using the acquisition method of accounting.
Book value
£000
Fair value 
adjustments
£000
Fair value
£000
Intangible assets - 865 865
Property, plant and equipment 34 - 34
Trade receivables 333 - 333
Investments 13 - 13
Other receivables 63 - 63
Cash at bank 311 - 311
TOTAL ASSETS 754 865 1,619
Trade payables (57) - (57)
Deferred revenue (212) (527) (739)
Corporation tax (36) - (36)
Social security and other taxes (156) - (156)
Accruals (186) - (186)
Deferred tax liability - (242) (242)
TOTAL LIABILITIES (647) (769) (1,416)
NET ASSETS 107 96 203
Purchased goodwill capitalised 903
1,106
Satisfied by:
Cash to vendor 815
Costs of acquisition 291
Total consideration 1,106
The fair values stated above are provisional. The fair value adjustment for the intangible assets relates to customer relationships, trade names 
and software.  A related deferred tax liability has also been recorded as a fair value adjustment.
Other adjustments were made to the revenue recognition policy for subscription income in order to bring it in line with group policy.
The profit after taxation of j4b Software and Publishing Limited for the period from 1 January 2009, the beginning of the subsidiary’s 
financial year, to the date of acquisition was £14,000.  The profit after taxation for the period ended 31 October 2009 was £137,000, and the 
profit after taxation since acquisition amounts to £230,000. The goodwill figure represents the premium paid over and above the identified 
assets where the latter include the value of the j4b brand, customer relationships and databases. 55 IDOX plc Annual Report and Accounts 2009
2 4 	 O P E R At I N G 	l E A S E 	 CO M M I t M E N t S
The future aggregate minimum lease payments under non-cancellable operating leases are as follows:
2009 2008
The group £000 £000
Amounts due:
Within one year 120 37
Between one and five years 403 757
After five years - -
523 794
Operating lease payments represent rentals payable by the Group for office premises and motor vehicle leasing charges. 
2 5 	 C A P I t A l	 CO M M I t M E N t S
The Group had no capital commitments at 31 October 2009 (2008: £Nil).
2 6 	 C O N t I N G E N t 	 l I A B I l I t I E S	
The Company has agreed to provide continuing financial support to its subsidiary undertakings, IDOX Software Limited and IDOX 
Information Services Limited. There were no material Group contingent liabilities at 31 October 2009 or 31 October 2008.
2 7 	 P O S t 	 B A l A N C E 	 S h E E t 	 E v E N t S	
There have been no post balance sheet events.
2 8 	 R E l At E D 	 PA R t y	t R A N S A C t I O N S
R e m u n e r a t i o n	p a i d	t o	s e n i o r	m a n a g e m e n t	o f	t h e	g r o u p :
2009 2008
£000 £000
Salaries and other short term employee benefits 1,118 1,314
Post-employment benefits 32 120
Share-based payments 99 108
1,249 1,542
Martin Brooks, Chairman of IDOX plc, received remuneration of £3,938 in the year to 31 October 09 (2008: £Nil) as Chairman of Cornwall 
Development Company, a company wholly owned by Cornwall Council.  Cornwall Council is a customer of IDOX Software Limited, a wholly 
owned subsidiary of IDOX plc.
For the year ended 31 October 2009
N o t e s	t o	t h e	A c c o u n t s	c o n t ’ d 5 6 IDOX plc Annual Report and Accounts 2009
R e p o r t	o f	t h e	I n d e p e n d e n t	A u d i t o r s	
t o	t h e	m e m b e r s	o f	ID O X	p l c
We have audited the parent company financial statements of IDOX plc  for the year ended 31 October 2009 which comprise the company 
balance sheet and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and 
United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
This report is made solely to the company’s members, as a body, in accordance with Sections 495 and 496 of the Companies Act 2006. Our 
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 
auditor’s 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.
R e s p e c t i v e	r e s p o n s i b i l i t i e s	o f	d i r e c t o r s	a n d	a u d i t o r s
As explained more fully in the Directors’ Responsibilities Statement set out on pages 17 and 18, the directors are responsible for the 
preparation of the parent company financial statements and for being satisfied that they give a true and fair view. Our responsibility is to 
audit the parent company financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). 
Those standards require us to comply with the Auditing Practices Board’s (APB’s) Ethical Standards for Auditors.
S c o p e	o f	t h e	a u d i t	o f	t h e	fi n a n c i a l	s t a t e m e n t s
A description of the scope of an audit of financial statements is provided on the APB’s website at www.frc.org.uk/apb/scope/UKNP.
O p i n i o n	o n	fi n a n c i a l	s t a t e m e n t s
In our opinion the parent company financial statements:
•	 g i v e	a	t r u e	a n d	f a i r	v i e w	o f	t h e	s t a t e	o f	t h e	c o m p a n y ’ s	a f f a i r s	a s	a t	3 1	O c t o b e r	2 0 0 9 ;	
•	 h a v e	b e e n	p r o p e r l y	p r e p a r e d	i n	a c c o r d a n c e	w i t h	U n i t e d	K i n g d o m	G e n e ra ll y	A c c e p t e d	A c c o u n t i n g	P ra c t i c e ;	a n d
•	 h a v e	b e e n	p r e p a r e d	i n	a c c o r d a n c e	w i t h	t h e	r e q u i r e m e n t s	o f	t h e	C o m p a n i e s	A c t	2 0 0 6 .
O p i n i o n	o n	o t h e r	m a t t e r	p r e s c r i b e d	b y	t h e	C o m p a n i e s	A c t	2 0 0 6
In our opinion the information given in the Directors’ Report for the financial year for which the financial statements are prepared is 
consistent with the parent company financial statements.
M a t t e r s	o n	w h i c h	w e	a r e	r e q u i r e d	t o	r e p o r t	b y	e x c e p t i o n
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
•	 a d e q u a t e	a c c o u n t i n g	r e c o r d s	h a v e	n o t	b e e n	k e p t	b y	t h e	p a r e n t	c o m p a n y ,	o r	r e t u r n s	a d e q u a t e	f o r	o u r	a u d i t	h a v e	n o t	b e e n	r e c e i v e d	f r o m	
branches not visited by us; or
•	 t h e	p a r e n t	c o m p a n y	fi n a n c i a l	s t a t e m e n t s	a r e	n o t	i n	a g r e e m e n t	w i t h	t h e	a c c o u n t i n g	r e c o r d s	a n d	r e t u r n s ;	o r
•	 c e r t a i n	d i s c l o s u r e s	o f	d i r e c t o r s ’	r e m u n e ra t i o n	s p e c i fi e d	b y	l a w	a r e	n o t	m a d e ;	o r
•	 w e	h a v e	n o t	r e c e i v e d	a ll	t h e	i n f o r m a t i o n	a n d	e x p l a n a t i o n s	w e	r e q u i r e	f o r	o u r	a u d i t .
O t h e r	m a t t e r
We have reported separately on the group financial statements of IDOX plc for the year ended 31 October 2009.
M a r k	C a r d i f f
Senior Statutory Auditor
for and on behalf of Grant Thornton UK LLP
Statutory Auditor, Chartered Accountants
London
2 February 2010 57 IDOX plc Annual Report and Accounts 2009
C o m p a n y	Ba l a n c e	S h e e t
Note 2009 2008
£000 £000
Fixed assets
Investments 5 34,541 33,448
C u r r e n t	a s s e t s
Debtors 6 555 419
C r e d i t o r s :	a m o u n t s	f a l l i n g	d u e	w i t h i n	o n e	y e a r 7 (13,777) (8,271)
Net current liabilities (13,222) (7,852)
t o t a l	a s s e t s	l e s s	c u r r e n t	l i a b i l i t i e s 21,319 25,596
C r e d i t o r s :	a m o u n t s	f a l l i n g	d u e	a f t e r	m o r e	t h a n	o n e	y e a r 8 (2,781) (5,696)
N e t	a s s e t s 18,538 19,900
C a p i t a l	a n d	r e s e r v e s
Called up share capital 9 3,442 3,442
Capital redemption reserve 11 1,112 1,112
Share premium account 11 9,903 9,883
Treasury reserve 11 (212) -
Share option reserve 11 454 364
Profit and loss account 11 3,839 5,099
S h a r e h o l d e r s ’	f u n d s 18,538 19,900
The financial statements were approved by the Board of Directors and authorised for issue on 25 January 2010 and are signed on its behalf 
by:
W i l l i a m	E d m o n d s o n	 	 	 	 	 	 	 R i c h a r d	k e l l e t t - C l a r k e
Chief Financial Officer      Chief Executive Officer
The accompanying accounting policies and notes form an integral part of these accounts.
Company name: IDOX plc   Company number: 03984070
At 31 October 2009 58 IDOX plc Annual Report and Accounts 2009
For the year ended 31 October 2009
N o t e s	t o	t h e	C o m p a n y	F i n a n c i a l	S t a t e m e n t
1 	 AC CO U N t I N G 	 P O l I C I E S
B a s i s	o f	p r e p a r a t i o n
The accounts have been prepared in accordance with applicable United Kingdom accounting standards and under the historical cost 
convention.
No profit and loss account is presented for the Company as permitted by Section 408 of the Companies Act, 2006.
The trade and assets of CAPS Solutions Limited and Plantech Limited have both been hived across to the fellow subsidiary company IDOX 
Software Limited.  As a result, the respective carrying values of Idox plc’s investments in CAPS Solutions Limited and Plantech Limited are not 
justified by the individual recoverable amounts of these entities.  However, a true and fair override is enacted to reflect that the value of the 
overall trade and assets now recorded within Idox Software Limited have not diminished and therefore no overall loss of value has occurred.
I nves t m e nt s
Investments, held as non-current assets, are included at cost less amounts written off for any permanent diminution in value.
F R S	2 0	S h a r e	B a s e d	P a y m e n t
All share-based payment arrangements granted after 7 November 2002 that had not vested prior to 1 November 2006 are recognised in the 
financial statements.
All goods and services received in exchange for the grant of any share-based payment are measured at their fair values.  Where employees 
are rewarded using share-based payments, the fair values of employees’ services are determined indirectly by reference to the fair value 
of the instrument granted to the employee.  This fair value is appraised at the grant date and excludes the impact of non-market vesting 
conditions (for example, profitability and sales growth targets).
Employees to whom share options have been granted provide their services in subsidiary companies of IDOX plc.  All equity settled share-
based payments are recognised as an expense in the profit and loss account of the relevant subsidiary company.  In IDOX plc, the cost is 
allocated to investments in subsidiaries.
If vesting periods or other non-market vesting conditions apply, the expense is allocated over the vesting period, based on the best available 
estimate of the number of share options expected to vest.  Estimates are revised subsequently if there is any indication that the number 
of share options expected to vest differs from previous estimates.  Any cumulative adjustment prior to vesting is recognised in the current 
period.  No adjustment is made to any expense recognised in prior periods if share options that have vested are not exercised.
Upon exercise of share options, the proceeds received net of attributable transaction costs are credited to share capital, and where 
appropriate share premium.
D e f e r r e d	t a x a t i o n
Deferred tax is recognised on all timing differences where the transactions or events that give the company an obligation to pay more tax 
in the future, or a right to pay less tax in the future, have occurred by the balance sheet date.  Deferred tax assets are recognised when it is 
more likely than not that they will be recovered.  Deferred tax is measured using rates of tax that have been enacted or substantively enacted 
by the balance sheet date.
C o n t r i b u t i o n s	t o	d e fi n e d	c o n t r i b u t i o n	p e n s i o n	s c h e m e s
Contributions paid to private pension plans of certain employees are charged to the profit and loss account in the period in which they 
become payable. Contributions paid to the group personal pension plans of employees are charged to the profit and loss account in the 
period in which they become payable. 59 IDOX plc Annual Report and Accounts 2009
N o t e s 	 t o 	 t h e 	 C o m p a n y 	 F i n a n c i a l 	 S t a t e m e n t 	 c o n t ’ d
F i n a n c i a l	i n s t r u m e n t s
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 entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those 
financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains 
or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant 
rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an 
equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Interest and expenditure arising on financial instruments is recognised on the accruals basis and credited or charged to the profit and loss 
account in the financial period to which it relates.  The Group does not apply FRS 26.
Operating leases
Amounts paid under operating leases are charged to the profit and loss account on a straight line basis over the lease term.
2 	 D I R E C t O R S 	 A N D 	 E M P l Oy E E S
There are no wages and salaries paid by the parent company.
The company has no employees and directors are remunerated by other group companies.  Details of the remuneration for each director are 
included in the remuneration report which can be found on page 15 but which do not form part of the audited accounts.
3 	D I v I D E N D S
2009 2008
£000 £000
Final dividend paid in respect of the year ended 31 October 2008 and 31 October 2007 395 343
Pence per ordinary share 0.115p 0.1p
Final dividend proposed in respect of the year ended 31 October 2009 277 -
Pence per ordinary share 0.08p -
The directors have proposed the payment of a final dividend of 0.12p per share, which would amount to £413,000 (2008: 0.115p).
4 	l O S S 	 F O R 	t h E 	 F I N A N C I A l	y E A R
The parent company has taken advantage of section 408 of the Companies Act 2006 and has not included its own profit and loss account in 
these financial statements.  The parent company’s loss for the year was £589,000  (2008: loss £1,059,000).
For the year ended 31 October 2009 60 IDOX plc Annual Report and Accounts 2009
For the year ended 31 October 2009
N o t e s 	 t o 	 t h e 	 C o m p a n y 	 F i n a n c i a l 	 S t a t e m e n t 	 c o n t ’ d
5 	 I N v E S t M E N t S
Shares in 
group 
undertakings
£000
Cost
At 1 November 2008 35,048
Additions 1,093
At 31 October 2009 36,141
Amounts written off
At 1 November 2008 1,600
Provided in the year -
At 31 October 2009 1,600
Net book amount
At 31 October 2009 34,541
At 31 October 2008 33,448
At 31 October 2009 the company held more than 10% of the allotted share capital of the following companies:
Country of 
registration
Class of 
share held 
Proportion 
held Nature of business
IDOX Software Limited  
(formerly i-documentsystems Limited)
England Ordinary 100% Software services
IDOX Information Services Limited England Ordinary 100% Information services
TFPL Limited England Ordinary 100% Recruitment services
CAPS Solutions Limited England Ordinary 100% Dormant company
i-documentsystems Trustees Limited England Ordinary 100% Corporate trustee of Employee share ownership trust
i-documentsystems Limited  
(formerly IDOX Software Limited) 
England Ordinary 100% Dormant company
Information into Intelligence Limited England Ordinary 100% Dormant company
The Planning Exchange Limited England Ordinary 100% Dormant company
Nettgain Solutions Limited England Ordinary 100% Dormant company
Mandoforms Limited England Ordinary 100% Dormant company
j4b Software & Publishing Limited England Ordinary 100% Information services
Plantech Limited England Ordinary 100% Dormant company
Wastedocs Limited Scotland Ordinary 100% Dormant company
All subsidiaries have been consolidated in the Group accounts. 61 IDOX plc Annual Report and Accounts 2009
N o t e s 	 t o 	 t h e 	 C o m p a n y 	 F i n a n c i a l 	 S t a t e m e n t 	 c o n t ’ d
6 	 D E B t O R S
2009 2008
£000 £000
Amounts owed by group undertakings 555 419
555 419
Included in the above for the company is £422,000 (2008: £419,000) which is due after more than one year. The directors consider this loan to 
be recoverable.
7 	 C R E D I t O R S : 	 A M O U N t S 	 FA l l I N G 	 D U E 	 W I t h I N 	 O N E 	y E A R
2009 2008
£000 £000
Bank loan 1,000 1,000
Amounts owed to group undertakings 12,549 7,234
Other creditors 3 -
Accruals and deferred income 225 37
13,777 8,271
8 	 C R E D I t O R S : 	 A M O U N t S 	 FA l l I N G 	 D U E 	 A F t E R 	 M O R E 	t h A N 	 O N E 	y E A R
2009 2008
£000 £000
Bank loan 2,781 5,696
As security for the above loans, the Bank of Scotland Plc holds a floating charge over the assets of the Group, a composite guarantee 
supported by each Group company and a share pledge in respect of the entire issued share capital of each subsidiary company.
The loans are repayable in six monthly instalments.  During the year the Group made an early repayment of £2.5m of the term loan in 
addition to the scheduled repayment of £0.5m.
Interest on the loans is payable quarterly in arrears. The interest rate charged is 4% above LIBOR. 
9 	 S h A R E 	 C A P I t A l
2009 2008
£000 £000
Authorised:
650,000,000 ordinary shares of 1p each (2008: 650,000,000) 6,500 6,500
Allotted, called up and fully paid
As at 1 November 3,442 3,420
Issue of share capital - 22
344,158,366 ordinary shares of 1p each (2008: 341,927,567) 3,442 3,442
For the year ended 31 October 2009 62 IDOX plc Annual Report and Accounts 2009
For the year ended 31 October 2009
N o t e s 	 t o 	 t h e 	 C o m p a n y 	 F i n a n c i a l 	 S t a t e m e n t 	 c o n t ’ d
M o v e m e n t	i n	I s s u e d	S h a r e	C a p i t a l	i n	t h e	y e a r
During the year to 31 October 2009, one former employee exercised share options.  On 5 June 2009, 300,000 share options were exercised 
at an exercise price of 7.5p per share. Shares were utilised from the Treasury Reserve to satisfy the exercise of the options. See note 10 for 
further details on share options. 
The company has one class of ordinary shares which carry no right to fixed income.
1 0 	 S h A R E 	 O P t I O N S	 	 	
The company has an unapproved share option scheme for all employees (including directors). All share options are exercisable at a price 
equal to the average market price of the company’s shares on the date of grant. The vesting period is usually 1 to 3 years. The options are 
settled in equity once exercised.  
Details of all share options over 1p Ordinary shares, falling within the measurement and recognition criteria of IFRS 2 “Share-based 
Payment”, including their contractual life and exercise prices are as follows:
At start of year Exercised At end of year Exercise price
Exercise date
from
Exercise date
to
4,500,000 - 4,500,000 6.50p Feb 2007 Oct 2011
4,500,000 - 4,500,000 9.00p Feb 2007 Oct 2014
1,500,000 - 1,500,000 7.50p May 2007 Feb 2013
266,000 - 266,000 7.50p May 2007 May 2013
900,000 (300,000) 600,000 7.50p May 2007 May 2017
615,385 - 615,385 8.13p Jun 2007 Oct 2014
550,000 - 550,000 15.00p Dec 2007 Jun 2011
960,000 - 960,000 12.50p May 2008 May 2018
1,192,308 - 1,192,308 13.00p Aug 2008 Aug 2014
1,033,334 - 1,033,334 15.00p Aug 2008 Aug 2014
16,017,027 (300,000) 15,717,027
The following table sets out the number of share options and associated WAEP outstanding during the year.
2009 2008
WAEP WAEP
No Pence No Pence
Outstanding at the beginning of the year 16,017,027 8.13 16,781,385 8.22
Granted during the year - - 3,735,642 -
Exercised during the year (300,000) 7.5 (1,230,769) 8.13
Forfeited during the year - - (3,269,231) 9.25
Outstanding at the end of the year 15,717,027 8.14 16,017,027 8.13
Exercisable at the end of the year 11,564,429 11.75 11,564,429 11.75
The share options outstanding at the end of the year have a weighted average remaining contractual life of 3.5 years.  63 IDOX plc Annual Report and Accounts 2009
N o t e s 	 t o 	 t h e 	 C o m p a n y 	 F i n a n c i a l 	 S t a t e m e n t 	 c o n t ’ d
The fair values were calculated using the Black-Schöles Pricing Model and the following information.
Date of 
issue
Number granted
Weighted 
average share 
price
Weighted 
average exercise 
price
Expected 
volatility
Expected 
life
Risk free 
rate
Expected 
dividend 
yield
Weighted 
average fair 
value at grant 
date
No. pence pence % Years % % £
2 0 07 :
Feb 07 4,500,000 6.50 6.50 48.00 3.5 4.25 0.6 0.03
Feb 07 4,500,000 6.50 9.00 48.00 3.5 4.25 0.6 0.03
May 07 2,716,000 7.50 7.50 48.00 3.5 4.25 0.6 0.03
Jun 07 2,865,385 8.13 8.13 48.00 3.5 4.25 0.6 0.03
Jun 07 2,250,000 11.13 11.13 48.00 3.5 4.25 0.6 0.03
20 0 8 :
Dec 07 550,000 8.00 8.00 48.00 3.5 5.00 0.6 0.03
May 08 960,000 12.50 12.50 48.00 3.5 5.00 0.6 0.05
Aug 08 1,192,308 13.00 13.00 48.00 3.5 5.00 0.6 0.06
Aug 08 1,033,334 13.00 15.00 48.00 3.5 5.00 0.6 0.05
Expected volatility was determined by calculating the historical volatility of the company’s share price over the previous 3 years. The 
expected life used in the model has been adjusted, based on the management’s best estimate, for the effects of non-transferability, exercise 
restrictions and behavioural considerations.
The company recognised total expenses of £99,000 (2008 - £108,000) related to equity-settled share-based payment transactions during the 
year.
t r a n s i t i o n a l	P r o v i s i o n s
Under the transitional provisions of IFRS 2 share options granted prior 7 November 2002 but not vested at 1 November 2006 fall outwith the 
measurement and recognition criteria of IFRS 2 “Share-based Payment”.
Details of all such share options over 1p Ordinary shares, including their contractual life and exercise prices, are as follows:
At start of year Exercised At end of year Exercise price
Exercise date
from
Exercise date
to
1,500,000 - 1,500,000 12.75p Nov 2001 Jun 2010
166,667 - 166,667 12.00p Dec 2003 Dec 2013
1,666,667 - 1,666,667 12.00p Jun 2002 Dec 2012
645,159 - 645,159 15.50p Jul 2004 Jul 2014
516,129 - 516,129 15.50p Jan 2003 Jul 2013
1,032,258 - 1,032,258 15.50p Oct 2004 Feb 2015
1,863,636 - 1,863,636 11.00p Apr 2004 Oct 2012
173,913 - 173,913 11.50p Oct 2006 Oct 2016
4,000,000 - 4,000,000 10.00p Sep 2004 May 2014
11,564,429 - 11,564,429
For the year ended 31 October 2009 64 IDOX plc Annual Report and Accounts 2009
For the year ended 31 October 2009
N o t e s 	 t o 	 t h e 	 C o m p a n y 	 F i n a n c i a l 	 S t a t e m e n t 	 c o n t ’ d
For those share options the table below summarises the number of these share options and the associated weighted average exercise price 
(WAEP) outstanding during the year.
2009 2008
    WAEP    WAEP
No Pence No Pence
Outstanding at the beginning of the year 11,564,429 11.75 12,564,429 11.75
Granted during the year - - - -
Exercised during the year - - (1,000,000) 10.00
Outstanding at the end of the year 11,564,429 - 11,564,429 11.75
Exercisable at the end of the year 11,564,429 - 11,564,429 11.75
Expected volatility was determined by calculating the historical volatility of the company’s share price over the previous 3 years. The 
expected life used in the model has been adjusted, based on the management’s best estimate, for the effects of non-transferability, exercise 
restrictions and behavioural considerations.  These share options have been limited to employees of subsidiary companies of IDOX plc.  As 
such, share option expenses of £99,000 (2008: £108,000) have been added to the cost of investments in the parent company.
1 1 	 S h A R E 	 P R E M I U M 	 A C CO U N t	 A N D 	 R E S E R v E S
The company
Capital
redemption 
reserve
Share 
premium 
account
Treasury 
reserve
Share 
option
reserve
Profit and loss 
account Total
£000 £000 £000 £000 £000 £000
At 1 November 2008 1,112 9,883 - 364 5,099 16,458
Share options reserve movement - - - 90 - 90
Shares repurchased - - (215) - - (215)
Exercise of options from treasury reserve - 20 3 - - 23
Dividends paid - - - - (672) (672)
Loss for the year - - - - (588) (588)
At 31 October 2009 1,112 9,903 (212) 454 3,839 15,096
The capital redemption reserve for the Group and the Company was created during 2003 when the entire deferred ordinary share capital was 
bought in exchange for one ordinary 1p share.  Other reserves relate to the issued share capital and share premium account in the Company’s 
subsidiary undertaking, IDOX Software Limited, and has been treated in accordance with FRS 6 under merger accounting. The share options 
reserve represents shares to be issued on potential exercise of those share options that have been accounted for under FRS20 (IFRS2) Share 
Based Payments.
The purpose of the Treasury Reserve is to enable the board to issue share options to employees. 65 IDOX plc Annual Report and Accounts 2009
For the year ended 31 October 2009
N o t e s 	 t o 	 t h e 	 C o m p a n y 	 F i n a n c i a l 	 S t a t e m e n t 	 c o n t ’ d
1 2 	 R E C O N C I l I A t I O N 	 O F 	 M O v E M E N t S 	 I N 	 S h A R E h O l D E R S ’ 	 F U N D S	
2009 2008
£000 £000
Loss for the financial year (588) (1,059)
Dividends paid (672) (343)
Exercise of options from treasury reserve 23 199
Treasury shares purchased (215) -
Shares option reserve movement 90 108
Net increase/(decrease) in shareholders’ funds (1,362) (1,095)
Shareholders’ funds at 1 November 2008 19,900 20,995
Shareholders’ funds at 31 October 2009 18,538 19,900
13 	 R E l At E D	PA R t y 	D I S C l O S U R E S
As the parent company of a wholly-owned group, the Company is exempt from the requirements of FRS 8 to disclose transactions with other 
members of the Group headed by IDOX plc.
As in the prior year, no transactions with other related parties, including key management personnel, were undertaken with the company. 66 IDOX plc Annual Report and Accounts 2009
so ftw are i n f o r m a t i o n	s e r v i c e s m a n a g e d	s e r v i c e s
IDOX plc is a supplier of software solutions 
and information services to the public 
sector and the leading applications 
provider to local government for core 
functions relating to land, people and 
property. Over 70% of UK local authorities 
are customers.  IDOX plc is committed 
to providing public-sector organisations 
with the tools to access and manage 
information & knowledge, documents & 
content, business processes & workflow as 
well as connecting directly with the citizen 
via the web.
From standalone solutions for individual 
functions through to integrated corporate 
solutions, the Company’s market leading 
IDOX, UNI-form and Plantech portfolio 
delivers improved data quality, stream-
lined information-sharing, enhanced 
employee productivity and increased 
responsiveness to the public.
IDOX plc operates the most comprehensive 
information service on all aspects of 
policy and practice in local government  in 
the United Kingdom. This encompasses 
everything from forward planning and 
development management issues to the 
modernisation agenda, from economic 
development to lifelong learning and 
from social inclusion issues to health and 
housing.  It is widely used by researchers, 
policy makers and practitioners in 
local and central government, regional 
development agencies, consultancies, 
universities and professional firms. 
Thousands of articles from some 500 
professional journals are available 
electronically searchable by keyword and 
abstract.
The service also manages specialist 
electronic ‘reading rooms’ and content 
management solutions for organisations 
to facilitate better communication and to 
form electronic communities of interest.  
Examples include reading rooms on 
labour market research and evaluations of 
economic development projects. 
j4b Software and Publishing Limited, the 
recent acquisition, specialises in online 
systems to support economic development 
for Government, Private and Third sectors.  
It has particular expertise in publishing 
grant support information and developing 
innovation portals across Europe.
IDOX plc continues to work in partnership 
with its local authority clients extending its 
Managed Services expertise. UKPlanning 
delivers Planning & Building Control 
departments with a cost effective, efficient 
and risk free means of administering 
applications and realising e-Planning 
targets quickly. Applications are scanned 
and indexed, or completed online, and 
published on the council’s websites and 
www.UKPlanning.com for public review 
and comment.
Unity provides an offsite fully managed 
and resilient UNI-form Case Management 
system to local authorities ensuring 24 
by 7 by 365 availability at a lower cost to 
in-house alternatives.
ID O X	p l c	S o f t w a r e	a n d	S e r v i c e s	a t	a	g l a n c e 67 IDOX plc Annual Report and Accounts 2009
cons u lt anc y recrui tmen t training
Our experienced consultancy team works 
with management in the public and 
private sectors in all areas of records 
management, content management, 
knowledge management and library 
and information services. We help 
organisations to make better use of their 
knowledge, information, library, records, 
web content resources and technologies.
We work in partnership with clients 
and software providers and systems 
integrators.
We provide advice on the current state of 
clients’ information and knowledge assets 
and offer strategic guidance on future 
directions.  This includes design policies 
and procedures, information architectures, 
taxonomies and metadata frameworks, 
implementation, data migration and 
project management expertise.
TFPL Intelligent Resources is the 
recruitment service which includes the 
UK and international executive search & 
selection, interim & contract placement, 
recruitment advertising for Insight 
roles (Analysis & Consulting, Primary 
& Secondary Research, Intelligence), 
Knowledge & Information Management 
(Thought Leadership, Content & Web 
Management, Library & Information 
Services), Records Management (Risk 
Management, RM Services, Archives), 
Publishing & Content Provision (Sales, 
Marketing & Development, Products, 
Licensing & Services, Publishing Strategy & 
Editorial) and related Technology.
With the boundaries between analytical 
disciplines, information management, 
operational processes and information 
technology becoming more blurred, we 
specialise in finding staff that bridge these 
multidisciplinary roles.
TFPL’s training service offers a range 
of public access and bespoke training 
solutions, providing you with a flexible 
and cost effective approach to training.
Our wide range of courses include:
•	 K n o w l e d g e	m a n a g e m e n t
•	 I n f o r m a t i o n	a r c h i t e c t u r e	&	t a xo n o m y
•	 C o n t e n t	m a n a g e m e n t
•	 R e c o r d s	m a n a g e m e n t
•	 L i b ra r y	&	i n f o r m a t i o n	m a n a g e m e n t	
services
•	 S o c i a l	c o m p u t i n g
•	 S h a r e P o i n t . 68 IDOX plc Annual Report and Accounts 2009
S e c r e t a r y	a n d	R e g i s t e r e d	O f fi c e :
N o m i n a t e d	A d v i s o r	a n d	B r o k e r :
Au d i t o r s :
C o r p o r a t e	S o l i c i t o r s :
R e g i s t ra r s :
C o m p a n y	R e g i s t r a t i o n	N u m b e r :
F i n a n c i a l	C a l e n d a r :
J Mackie
2nd Floor
160 Queen Victoria Street
London EC4V 4BF
Investec Bank plc
2 Gresham Street
London EC2V 7QP
Grant Thornton UK LLP
Grant Thornton House
Melton Street
Euston Square
London NW1 2EP
Memery Crystal
44 Southampton Buildings
London WC2A 1AP
Share Registrars Limited
Suite E, 1st Floor
9 Lion and Lamb Yard
Farnham
Surrey GU9 7LL
3984070
Annual General Meeting - 25 February 2010
Announcement of 2010 Interim Results - July 2010
Announcement of 2010 Annual Report - December 2010
C o m p a n y	I n f o r m a t i o n  2nd Floor
160 Queen Victoria Street
London
EC4V 4BF
T  0870 333 7101
F  0870 333 7131
E  info@IDOXplc.com
www.IDOXplc.com
Tontine House
8 Gordon Street
Glasgow
G1 3PL
T  0870 333 7101
F  0141 574 1901
IDOX plc
Benham Valence
Newbury
Berkshire
RG20 8LU
T  01635 565900
F  01635 565901
Alderley House
Alderley Road
Wilmslow
Cheshire SK9 1AT
T  01625 628007
F  01625 628001