Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseThe principal activity of the company is that of providing advisory services for investors who are seeking to deploy capital in the UK. The company provides a set of services with the objective to facilitate the investment process. Those set of services are mainly related to architecture design, construction and finance.13truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10589715 2023-01-01 2023-12-31 10589715 2022-01-01 2022-12-31 10589715 2023-12-31 10589715 2022-12-31 10589715 c:Director1 2023-01-01 2023-12-31 10589715 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-12-31 10589715 d:MotorVehicles 2023-01-01 2023-12-31 10589715 d:MotorVehicles 2023-12-31 10589715 d:MotorVehicles 2022-12-31 10589715 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10589715 d:ComputerEquipment 2023-01-01 2023-12-31 10589715 d:ComputerEquipment 2023-12-31 10589715 d:ComputerEquipment 2022-12-31 10589715 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10589715 d:OtherPropertyPlantEquipment 2023-12-31 10589715 d:OtherPropertyPlantEquipment 2022-12-31 10589715 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10589715 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10589715 d:CurrentFinancialInstruments 2023-12-31 10589715 d:CurrentFinancialInstruments 2022-12-31 10589715 d:Non-currentFinancialInstruments 2023-12-31 10589715 d:Non-currentFinancialInstruments 2022-12-31 10589715 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10589715 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10589715 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 10589715 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 10589715 d:ShareCapital 2023-12-31 10589715 d:ShareCapital 2022-12-31 10589715 d:RetainedEarningsAccumulatedLosses 2023-12-31 10589715 d:RetainedEarningsAccumulatedLosses 2022-12-31 10589715 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 10589715 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 10589715 c:FRS102 2023-01-01 2023-12-31 10589715 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10589715 c:FullAccounts 2023-01-01 2023-12-31 10589715 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10589715 2 2023-01-01 2023-12-31 10589715 6 2023-01-01 2023-12-31 10589715 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 10589715










FORE ADVISORY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
FORE ADVISORY LIMITED
REGISTERED NUMBER:10589715

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
25,970
38,983

Investments
 5 
2,250
8,648

  
28,220
47,631

Current assets
  

Debtors: amounts falling due within one year
 6 
70,298
48,168

Cash at bank and in hand
 7 
3,356
24,908

  
73,654
73,076

Creditors: amounts falling due within one year
 8 
(62,586)
(148,942)

Net current assets/(liabilities)
  
 
 
11,068
 
 
(75,866)

Total assets less current liabilities
  
39,288
(28,235)

Creditors: amounts falling due after more than one year
 9 
(30,630)
(37,215)

Provisions for liabilities
  

Deferred tax
 10 
(6,493)
(9,746)

  
 
 
(6,493)
 
 
(9,746)

Net assets/(liabilities)
  
2,165
(75,196)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
2,065
(75,296)

  
2,165
(75,196)

Page 1

 
FORE ADVISORY LIMITED
REGISTERED NUMBER:10589715
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M EL Khatib
Director

Date: 25 September 2024

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
FORE ADVISORY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The company is a private company limited by shares, incorporated in England and Wales. The address of its registered office is 14th Floor, 33 Cavendish Square. London, W1G 0PW. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

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

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

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

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
FORE ADVISORY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Revenue

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

Rendering of services

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

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Pensions

Defined contribution pension plan

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

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

Page 4

 
FORE ADVISORY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

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

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

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

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

 
2.8

Tangible fixed assets

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

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
20%
Motor vehicles
-
25%
Computer equipment
-
20%

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

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

Page 5

 
FORE ADVISORY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.12

Creditors

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

 
2.13

Financial instruments

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

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

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due within the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly
Page 6

 
FORE ADVISORY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.13
Financial instruments (continued)

traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 3).

Page 7

 
FORE ADVISORY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Motor vehicles
Computer equipment
Leasehold improvements
Total

£
£
£
£



Cost


At 1 January 2023
48,501
4,440
2,238
55,179



At 31 December 2023

48,501
4,440
2,238
55,179



Depreciation


At 1 January 2023
12,126
1,832
2,238
16,196


Charge for the year on owned assets
12,125
888
-
13,013



At 31 December 2023

24,251
2,720
2,238
29,209



Net book value



At 31 December 2023
24,250
1,720
-
25,970



At 31 December 2022
36,375
2,608
-
38,983
Page 8

 
FORE ADVISORY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Fixed asset investments





Investments in subsidiary companies
Investments in associates
Listed investments
Total

£
£
£
£



Cost or valuation


At 1 January 2023
-
600
8,048
8,648


Additions
-
-
9,197
9,197


Disposals
-
-
(18,309)
(18,309)


Revaluations
-
-
2,714
2,714


Transfers
600
(600)
-
-



At 31 December 2023
600
-
1,650
2,250





6.


Debtors

2023
2022
£
£


Trade debtors
-
19,394

Other debtors
70,298
28,774

70,298
48,168



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
3,356
24,908


Page 9

 
FORE ADVISORY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
372
-

Other taxation and social security
710
8,549

Obligations under finance lease and hire purchase contracts
6,585
6,585

Other creditors
52,485
127,574

Accruals and deferred income
2,434
6,234

62,586
148,942


Obligations under hire purchases contracts are secured on the assets they relate to. The remaining lease terms are not later than 5 years. 


9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
30,630
37,215


Obligations under hire purchases contracts are secured on the assets they relate to. The remaining lease terms are not later than 5 years. 


10.


Deferred taxation




2023


£






At beginning of year
(9,746)


Charged to profit or loss
3,253



At end of year
(6,493)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(6,493)
(9,746)

Page 10

 
FORE ADVISORY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

11.


Transactions with directors

At the balance sheet date, the net amount of £67,948 (2022: £18,989) was owed from the director of the company. The balance was repaid to the company post year end.

 
Page 11