ACCOUNTS - Final Accounts preparation

Company registration number: 13248974

	FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2024

	FOREFRONT ADVISERS LIMITED


FOREFRONT ADVISERS LIMITED

COMPANY INFORMATION

Directors	A Himsley
	M Hine


Registered number	13248974


Registered office	20 St. Thomas Street
	London
	SE1 9RS


Independent auditor	Menzies LLP
	Chartered Accountants & Statutory Auditor
	95 Gresham Street
	London
	EC2V 7AB


FOREFRONT ADVISERS LIMITED REGISTERED NUMBER:13248974

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024


	2024	2023
Note	£000	£000

Fixed assets
Intangible fixed assets	5		2		5
Tangible fixed assets	6		3		4
			5		9
Current assets
Debtors: amounts falling due within one year	7	5,599		3,786
Cash at bank and in hand		2,237		1,401
		7,836		5,187
Creditors: amounts falling due within one year	8	(3,765)		(2,639)
Net current assets			4,071		2,548
Total assets less current liabilities			4,076		2,557
Provisions for liabilities
Deferred tax	9	(1)		(1)
			(1)		(1)
Net assets			4,075		2,556

Capital and reserves
Share premium account	119	119
Profit and loss account	3,956	2,437
	4,075	2,556

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 Hine

Director

Date: 28 May 2025

The notes on pages 2 to 9 form part of these financial statements.

Page 1


FOREFRONT ADVISERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

The Principal activity of Forefront Advisers Limited is political reporting.
The company is a private company limited by shares and is incorporated in England and Wales.
The address of the registered office is disclosed on the company information page.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

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 2


FOREFRONT ADVISERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

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

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

2.5

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 reporting 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 reporting 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 reporting date.

Page 3


FOREFRONT ADVISERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:

Computer software

7-10 years

2.7

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:

Computer equipment

5 years

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.

2.8

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

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FOREFRONT ADVISERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

Preparation of these financial statements requires the Directors to exercise judgment and to make estimates about
uncertain future events in the process of applying the Company's accounting policies. The actual future outcomes
may differ from these estimates and give rise to material adjustments to the reported results and financial position of the Company. The areas requiring a higher degree of judgment, or areas where assumptions and estimates are
significant to the financial statements, are discussed below.
Capitalisation of software development costs
In capitalising costs as internally generated intangible assets, the Directors have made judgments regarding the
technical and commercial feasibility of the project, the costs, or proportion of costs that meet the criteria for
capitalisation, the point at which costs should be capitalised and the rate of amortisation.

Employees

The average monthly number of employees, including directors, during the year was 13 (2023 - 12).

Page 5


FOREFRONT ADVISERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

5.	Intangible assets

		Computer software
		£000
	Cost
	At 1 January 2024	22
	Additions - internal	1
	At 31 December 2024	23
	Amortisation
	At 1 January 2024	16
	Charge for the year on owned assets	5
	At 31 December 2024	21
	Net book value
	At 31 December 2024	2
	At 31 December 2023	6

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FOREFRONT ADVISERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

6.	Tangible fixed assets

		Computer equipment
		£000
	Cost or valuation
	At 1 January 2024	5
	At 31 December 2024	5
	Depreciation
	At 1 January 2024	1
	Charge for the year on owned assets	1
	At 31 December 2024	2
	Net book value
	At 31 December 2024	3
	At 31 December 2023	4

Debtors

					2024	2023
					£000	£000


Trade debtors	1,377	1,107
Amounts owed by group undertakings	4,164	2,515
Other debtors	4	2
Prepayments and accrued income	17	125
Tax recoverable	37	37
	5,599	3,786

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FOREFRONT ADVISERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

8.	Creditors: Amounts falling due within one year
		2024	2023
		£000	£000

Trade creditors	45	68
Amounts owed to group undertakings	1,464	1,242
Corporation tax	-	254
Other taxation and social security	123	249
Other creditors	79	92
Accruals and deferred income	2,054	734
	3,765	2,639

9.	Deferred taxation

		2024
		£000

	At beginning of year	(1)
	At end of year	(1)

The provision for deferred taxation is made up as follows:
	2024	2023
	£000	£000

	Accelerated capital allowances	(1)	(1)
		(1)	(1)

10.	Share capital
		2024	2023
		£000	£000

Allotted, called up and fully paid

1,179 (2023 - 1,179) Ordinary Shares shares of £0.01 each	-	-

11.	Contingent liabilities

The Group has a facility of £15.8 million and a revolving facilities agreement of £0.5 million. Group companies are guarantors to the Facilities Agreement.

Page 8


FOREFRONT ADVISERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

12.	Controlling party

The results of the Company are consolidated in the financial statements of BG Topco 5 Limited, a company registered in England and Wales. The registered office of BG Topco 5 Limited is 20 St. Thomas Street, London, SE1 9RS.

13.	Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 28 May 2025 by Ralph Mitchison FCA (Senior statutory auditor) on behalf of Menzies LLP.

Page 9