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REGISTERED NUMBER: 09465291 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023

FOR

FORESIGHT HOLDINGS LIMITED

FORESIGHT HOLDINGS LIMITED (REGISTERED NUMBER: 09465291)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


FORESIGHT HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTORS: P Riley
N Mortimer





REGISTERED OFFICE: New Dunsley Farm
Brow Lane
Holmfirth
HD9 2SW





REGISTERED NUMBER: 09465291 (England and Wales)





ACCOUNTANTS: SBCA Chartered Accountants
17 Moor Park Avenue
Preston
Lancashire
PR1 6AS

FORESIGHT HOLDINGS LIMITED (REGISTERED NUMBER: 09465291)

STATEMENT OF FINANCIAL POSITION
31ST MARCH 2023

31.3.23 31.3.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 42,538 52,768

CURRENT ASSETS
Stocks 5 2,971 2,041
Debtors 6 2,408 14,505
Cash at bank 99 1,006
5,478 17,552
CREDITORS
Amounts falling due within one year 7 (180,565 ) (145,734 )
NET CURRENT LIABILITIES (175,087 ) (128,182 )
TOTAL ASSETS LESS CURRENT LIABILITIES (132,549 ) (75,414 )

PROVISIONS FOR LIABILITIES 8 (975 ) -
NET LIABILITIES (133,524 ) (75,414 )

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 10 (133,526 ) (75,416 )
SHAREHOLDERS' FUNDS (133,524 ) (75,414 )

FORESIGHT HOLDINGS LIMITED (REGISTERED NUMBER: 09465291)

STATEMENT OF FINANCIAL POSITION - continued
31ST MARCH 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22nd November 2023 and were signed on its behalf by:





P Riley - Director


FORESIGHT HOLDINGS LIMITED (REGISTERED NUMBER: 09465291)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023


1. STATUTORY INFORMATION

Foresight Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern
The accounts have been prepared on a going concern basis as the Directors have confirmed that they will continue to support the company to enable it to meet its obligations as they fall due.

The company therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

FORESIGHT HOLDINGS LIMITED (REGISTERED NUMBER: 09465291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Basic financial assets:
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future cash flows discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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

Basic financial liabilities:
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future cash flows discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if the payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


FORESIGHT HOLDINGS LIMITED (REGISTERED NUMBER: 09465291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1st April 2022
and 31st March 2023 59,833 10,400 10,126 1,719 82,078
DEPRECIATION
At 1st April 2022 16,444 5,720 5,569 1,577 29,310
Charge for year 5,983 2,080 2,025 142 10,230
At 31st March 2023 22,427 7,800 7,594 1,719 39,540
NET BOOK VALUE
At 31st March 2023 37,406 2,600 2,532 - 42,538
At 31st March 2022 43,389 4,680 4,557 142 52,768

5. STOCKS
31.3.23 31.3.22
£    £   
Stocks 2,971 2,041

FORESIGHT HOLDINGS LIMITED (REGISTERED NUMBER: 09465291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other debtors 2,408 14,505

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 18,766 8,367
Taxation and social security 210 495
Other creditors 161,589 136,872
180,565 145,734

8. PROVISIONS FOR LIABILITIES
31.3.23
£   
Deferred tax
Taxation 975

Deferred
tax
£   
Balance at 1st April 2022 (13,355 )
Provided during year 14,330
Balance at 31st March 2023 975

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
2 Ordinary £1 2 2

10. RESERVES
Retained
earnings
£   

At 1st April 2022 (75,416 )
Deficit for the year (58,110 )
At 31st March 2023 (133,526 )

FORESIGHT HOLDINGS LIMITED (REGISTERED NUMBER: 09465291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


11. RELATED PARTY DISCLOSURES

During the year interest free loans were advanced to the company of £159,700 (2022 - £134,800).
The loans were as follows:

Loan - Riley Investment Management - £53,000 (2022 - £53,000)
Loan - Mortimer Investment Management - £71,350 (2022 - £53,000)
Loan - Morri Consult - £35,350 (2022 - £28,800)