Company registration number 13806331 (England and Wales)
FORESIGHT ADVISORS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
FORESIGHT ADVISORS LIMITED
COMPANY INFORMATION
Directors
A Magnoli Bocchi
E Eguren Linsen
Company number
13806331
Registered office
Salisbury House
London Wall
London
EC2M 5PS
Auditor
Gravita II LLP
Aldgate Tower
2 Leman Street
London
E1 8FA
FORESIGHT ADVISORS LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditor's report
5 - 7
Statement of comprehensive income
8
Statement of financial position
10
Statement of changes in equity
11
Statement of cash flows
12
Notes to the financial statements
13 - 19
FORESIGHT ADVISORS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

The directors present the strategic report for the year ended 31 December 2024.

Review of the business

As a nascent entity, the company remains in startup mode, having obtained licensing from the Financial Conduct Authority in 2023. Throughout the last year, we concentrated on establishing robust processes and controls to underpin our operations. Further efforts focused on refining our business model, consolidating the existing agreements with four leading international custodians across Switzerland, the UK and the US. Negotiations secured competitive terms, encompassing pricing, operational thresholds, and procedural protocols, all tailored to meet our customers' needs.

 

We diligently reviewed and adjusted our customer documentation to align with regulatory requirements in the UK and recommendations from our external legal counsel. Additionally, we engaged multiple suppliers and commenced implementing our support structure, which encompasses legal, accounting, compliance, advisory, and technological domains.

 

We selected during 2024 the operating system to be used. The platform chosen, Efficience, was previously evaluated by our management, confirming it complied with the requirements of our business model, including our controls and compliance requirements. We will use the first half of 2025 to implement and test it thoroughly with an agreeing customer before starting a more proactive client acquisition program.

 

To ensure compliance with UK regulations and any jurisdictions, we may engage with, we have defined clear guidelines for promoting our services. We enhanced our customer onboarding process with updated qualification assessments. Moreover, our investment committee conducts weekly sessions to oversee strategic decision-making.

 

Market screening initiatives were initiated to identify potential new customers alongside a reassessment of custodian partnerships. Our capitalization exceeds minimal requirements, reducing the need for external funding or additional capital injection fortifying our financial resilience.

 

During 2024 the year we had, as expected, a marginal loss of about 2.3% of our capital base, reflecting the net results of our buildup of infrastructure and process offset by the earnings produced by placing our capital in reasonably conservative assets, mainly time deposits with Banks and liquid bonds.

Principal risks and uncertainties

Given our early-stage status, the company's exposure to risks remains limited. However, we remain vigilant and have identified several critical areas of focus:

 

Development and performance

As an early-stage startup, our performance is primarily gauged by our adept management of company assets and expenses.

 

FORESIGHT ADVISORS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
Key performance indicators

Our primary performance metrics include:

 

 

These metrics will become applicable upon the commencement of customer onboarding.

Other information and explanations

Recent proposed legislative changes and tax implications in the UK have necessitated reevaluating prospective customer engagement strategies. The Board is actively assessing the impact of these developments on our business model and support staff locations to ensure continued competitiveness and value proposition to our clientele.

S172 Statement

The Directors recognize their responsibility to maintain high standards of business conduct and acknowledge the impact on all stakeholders when making business decisions, including the long-term implications.

 

The Board's analysis of how it has exercised its duty to promote the company's long-term success is set out below.

 

On behalf of the board

E Eguren Linsen
Director
15 April 2025
FORESIGHT ADVISORS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -

The directors present their annual report and financial statements for the year ended 31 December 2024.

Principal activities

The principal activity of the firm is to provide investment management services. It is authorised and regulated by the Financial Conduct Authority (“FCA”). The firm does not anticipate any change to the nature of these activities going forward.

Results and dividends

The results for the year are set out on page 8.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

A Magnoli Bocchi
E Eguren Linsen
Statement of directors' responsibilities

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 elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

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

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

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

FORESIGHT ADVISORS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
On behalf of the board
E Eguren Linsen
Director
15 April 2025
FORESIGHT ADVISORS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF FORESIGHT ADVISORS LIMITED
- 5 -
Opinion

We have audited the financial statements of Foresight Advisors Limited (the 'company') for the year ended 31 December 2024 which comprise the statement of comprehensive income, the statement of financial position, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

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

Conclusions relating to going concern

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

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. However, because not all future events or conditions can be predicted this statement is not a guarantee as to the company's ability to continue as a going concern.

 

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

Other information

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

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

FORESIGHT ADVISORS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF FORESIGHT ADVISORS LIMITED (CONTINUED)
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

 

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

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.

The extent to which the audit was considered capable of detecting irregularities including fraud

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

 

FORESIGHT ADVISORS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF FORESIGHT ADVISORS LIMITED (CONTINUED)
- 7 -

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

 

 

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

 

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment by for example forgery, or intentional misrepresentation or through collusion. Our audit procedures are designed to detect material misstatement. We are not responsible for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations.

 

A further description of our responsibilities is available on the Financial Reporting Council's website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 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.

Mark Brown FCA (Senior Statutory Auditor)
For and on behalf of Gravita II LLP, Statutory Auditor
Chartered Accountants
Aldgate Tower
2 Leman Street
London
E1 8FA
17 April 2025
FORESIGHT ADVISORS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
2024
2023
Notes
$
$
Turnover
-
-
Administrative expenses
(363,048)
(61,883)
Operating loss
2
(363,048)
(61,883)
Interest receivable and similar income
6
238,709
202,615
Interest payable and similar expenses
7
-
0
(198)
(Loss)/profit before taxation
(124,339)
140,534
Tax on (loss)/profit
8
-
0
(9,799)
(Loss)/profit for the financial year
(124,339)
130,735
FORESIGHT ADVISORS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
2024
2023
$
$
(Loss)/profit for the year
(124,339)
130,735
Other comprehensive income
-
-
Total comprehensive income for the year
(124,339)
130,735
FORESIGHT ADVISORS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2024
31 December 2024
- 10 -
2024
2023
Notes
$
$
$
$
Fixed assets
Investments
9
1,967,685
2,007,890
Current assets
Debtors
10
31,965
129,384
Cash at bank and in hand
3,575,902
3,560,242
3,607,867
3,689,626
Creditors: amounts falling due within one year
11
(48,445)
(46,070)
Net current assets
3,559,422
3,643,556
Net assets
5,527,107
5,651,446
Capital and reserves
Called up share capital
12
16,804
16,804
Share premium account
5,607,505
5,607,505
Profit and loss reserves
(97,202)
27,137
Total equity
5,527,107
5,651,446
The financial statements were approved by the board of directors and authorised for issue on 15 April 2025 and are signed on its behalf by:
A Magnoli Bocchi
E Eguren Linsen
Director
Director
Company registration number 13806331 (England and Wales)
FORESIGHT ADVISORS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 11 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
$
$
$
$
Balance at 1 January 2023
15,127
-
0
(103,598)
(88,471)
Period ended 31 December 2023:
Profit and total comprehensive income
-
-
130,735
130,735
Issue of share capital
12
1,677
5,607,505
-
5,609,182
Balance at 31 December 2023
16,804
5,607,505
27,137
5,651,446
Year ended 31 December 2024:
Loss and total comprehensive income
-
-
(124,339)
(124,339)
Balance at 31 December 2024
16,804
5,607,505
(97,202)
5,527,107
FORESIGHT ADVISORS LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 12 -
2024
2023
Notes
$
$
$
$
Cash flows from operating activities
Cash absorbed by operations
14
(247,666)
(848,553)
Interest paid
-
0
(198)
Income taxes paid
(9,799)
-
0
Net cash outflow from operating activities
(257,465)
(848,751)
Investing activities
Purchase of investments
-
0
(2,007,890)
Proceeds from disposal of investments
40,205
-
0
Repayment of loans
(5,789)
-
0
Interest received
238,709
202,615
Net cash generated from/(used in) investing activities
273,125
(1,805,275)
Financing activities
Proceeds from issue of shares
-
0
5,609,182
Net cash generated from financing activities
-
5,609,182
Net increase in cash and cash equivalents
15,660
2,955,156
Cash and cash equivalents at beginning of year
3,560,242
605,086
Cash and cash equivalents at end of year
3,575,902
3,560,242
FORESIGHT ADVISORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 13 -
1
Accounting policies
Company information

Foresight Advisors Limited is a private company limited by shares incorporated in England and Wales. The registered office is Salisbury House, London Wall, London, EC2M 5PS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in dollars, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest $.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

 

The company is very comfortably capitalized, with a solid liquidity position and a portfolio of investments that can be monetized quickly, ensuring financial stability and flexibility. Looking ahead, the company remains focused on ensuring growth and expansion over the next 24 months, supported by solid systems and controls, with strategic initiatives aimed at enhancing its market position. Following the successful completion of testing and calibration of the new operating system, the company plans to commence enrolling new customers, further strengthening its revenue streams.

 

Given its strong financial standing and forward-looking strategy, the directors remain confident in the company’s ability to execute its plans effectively while maintaining a robust financial foundation.

1.3
Fixed asset investments

Investments in instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

 

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, and deposits held at call with banks.

1.5
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 statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

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

FORESIGHT ADVISORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 14 -
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 receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

FORESIGHT ADVISORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 15 -
1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences. Such liabilities are not recognised if the timing difference arises from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Foreign exchange

Transactions in currencies other than US $ are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Operating loss
2024
2023
Operating loss for the year is stated after charging/(crediting):
$
$
Exchange losses/(gains)
8,573
(27,033)
3
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
$
$
For audit services
Audit of the financial statements of the company
23,614
20,000
For other services
All other non-audit services
14,415
17,121
FORESIGHT ADVISORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 16 -
4
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

 

2024
2023
Number
Number
2
2

Their aggregate remuneration comprised:

2024
2023
$
$
Wages and salaries
153,683
-
0
5
Directors' remuneration
2024
2023
$
$
Remuneration for qualifying services
153,683
-
0
6
Interest receivable and similar income
2024
2023
$
$
Interest income
Other interest income
238,709
202,615
7
Interest payable and similar expenses
2024
2023
$
$
Other finance costs:
Other interest
-
0
198
8
Taxation
2024
2023
$
$
Current tax
UK corporation tax on profits for the current period
-
0
9,799
FORESIGHT ADVISORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
8
Taxation
(Continued)
- 17 -

The actual charge for the year can be reconciled to the expected (credit)/charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
$
$
(Loss)/profit before taxation
(124,339)
140,534
Expected tax (credit)/charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 19.00%)
(31,085)
26,701
Tax effect of expenses that are not deductible in determining taxable profit
543
3,072
Unutilised tax losses carried forward
30,542
(19,974)
Taxation charge for the year
-
9,799
9
Fixed asset investments
2024
2023
$
$
Investments in bonds
1,967,685
2,007,890
Movements in fixed asset investments
Investments
$
Cost or valuation
At 1 January 2024
2,007,890
Valuation changes
(40,205)
At 31 December 2024
1,967,685
Carrying amount
At 31 December 2024
1,967,685
At 31 December 2023
2,007,890
10
Debtors
2024
2023
Amounts falling due within one year:
$
$
Other debtors
5,789
-
0
Prepayments and accrued income
26,176
129,384
31,965
129,384
FORESIGHT ADVISORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 18 -
11
Creditors: amounts falling due within one year
2024
2023
$
$
Trade creditors
2,453
135
Corporation tax
-
0
9,799
Other creditors
-
0
552
Accruals and deferred income
45,992
35,584
48,445
46,070
12
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
$
$
Issued and fully paid
Ordinary shares of $0.012003 each
1,400,000
1,400,000
16,804
16,804
13
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
$
$
$
$
Director loan accounts
-
552
5,789
(552)
5,789
552
5,789
(552)
5,789

The advances include amounts paid by the company on behalf of the directors for personal expenses. The amounts will be repaid by the directors within 9 months from the financial year end.

14
Cash absorbed by operations
2024
2023
$
$
(Loss)/profit after taxation
(124,339)
130,735
Adjustments for:
Taxation charged
-
0
9,799
Finance costs
-
0
198
Investment income
(238,709)
(202,615)
Movements in working capital:
Decrease/(increase) in debtors
103,208
(129,384)
Increase/(decrease) in creditors
12,174
(657,286)
Cash absorbed by operations
(247,666)
(848,553)
FORESIGHT ADVISORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 19 -
15
Analysis of changes in net funds
1 January 2024
Cash flows
31 December 2024
$
$
$
Cash at bank and in hand
3,560,242
15,660
3,575,902
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