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Registered number: 13127830
Foresight Wealth Group Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—5
Page 1
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Foresight Wealth Group Limited for the year ended 30 April 2024
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Foresight Wealth Group Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Foresight Wealth Group Limited , as a body, in accordance with the terms of our engagement letter dated 12 January 2021. Our work has been undertaken solely to prepare for your approval the accounts of Foresight Wealth Group Limited and state those matters that we have agreed to state to the directors of Foresight Wealth Group Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Foresight Wealth Group Limited and its directors as a body for our work or for this report.
It is your duty to ensure that Foresight Wealth Group Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Foresight Wealth Group Limited . You consider that Foresight Wealth Group Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Foresight Wealth Group Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
23rd January 2025
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Page 1
Page 2
Balance Sheet
Registered number: 13127830
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investments 4 3,051,012 891,267
3,051,012 891,267
CURRENT ASSETS
Debtors 5 239,825 261,495
Investments 6 1,452 202
Cash at bank and in hand 34,422 18,467
275,699 280,164
Creditors: Amounts Falling Due Within One Year 7 (774,545 ) (283,333 )
NET CURRENT ASSETS (LIABILITIES) (498,846 ) (3,169 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,552,166 888,098
Creditors: Amounts Falling Due After More Than One Year 8 (1,817,210 ) (406,929 )
NET ASSETS 734,956 481,169
CAPITAL AND RESERVES
Called up share capital 10 200 200
Profit and Loss Account 734,756 480,969
SHAREHOLDERS' FUNDS 734,956 481,169
Page 2
Page 3
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Simon Booth
Director
23rd January 2025
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Foresight Wealth Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13127830 . The registered office is Richmond House Heath Road, Hale, Altrincham, WA14 2XP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Investments
Investments are recognised at cost and tested for impairment, with fluctuation in value being recognised in the profit and loss account; impairment movements are then recognised in the fair value reserve.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Investments
Unlisted
£
Cost
As at 1 May 2023 891,267
Additions 2,159,745
As at 30 April 2024 3,051,012
Provision
As at 1 May 2023 -
As at 30 April 2024 -
Net Book Value
As at 30 April 2024 3,051,012
As at 1 May 2023 891,267
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 151 3,697
Due after more than one year
Amounts owed by group undertakings 239,674 257,798
239,825 261,495
6. Current Asset Investments
2024 2023
£ £
Shares in subsidiaries 1,452 202
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 205,197 135,133
Amounts owed to group undertakings 56,698 -
Other creditors 512,650 148,200
774,545 283,333
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 1,306,360 406,929
Other creditors 510,850 -
1,817,210 406,929
9. Secured Creditors
The company has a registration of charge with Vertus Capital SPV1 Limited that is not contained on the balance sheet. The charge was registered on 20th January 2022 and shares a cross-company guarantee between two other subsidiaries that are held within the group.
2024 2023
£ £
Bank loans and overdrafts 1,511,557 542,062
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary A shares of £ 1 each 100 100
86 Ordinary B shares of £ 1 each 86 86
14 Ordinary C shares of £ 1 each 14 14
200 200
11. Related Party Transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
Page 5