Registered number: 07102496
DIRECTORS' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
THE FISER GROUP LIMITED
Company Information
THE FISER GROUP LIMITED
Contents
THE FISER GROUP LIMITED
Group strategic report
For the Year Ended 31 December 2024
The directors present their strategic report for the year ended 31 December 2024.
The principal activity of the company during the year was that of recruitment and talent consulting services.
The FISER Group Limited (“FISER”) is based in the United Kingdom with a head office in London and a regional office in Manchester. FISER operates under 3 trading brands, Bruin, IBAM Consulting and Ludgate Search. FISER also has staff located in the United States (New York), Canada (Toronto) and the United Arab Emirates (Dubai) who operate those markets as well as internationally. Certain staff in the United Kingdom also transact in the European markets, from our UK offices.
FISER predominantly operates within the financial services sector and within the recruitment and consultancy disciplines of Accounting & Finance, Actuarial & Pricing, Broking & Underwriting, Change Management & Transformation, Data & Analytics, Distribution & Marketing, Governance, HR, Legal, Middle and Front Office Investments, Operations, Pensions & Employee Benefits, Real Estate and Technology. FISER’s client base comprises many of the leading and fast growth financial and professional institutions within the asset management, banking and insurance sectors as well as fintech, insurtech, private equity, private debt and other alternatives firms.
FISER also holds a 51% investment in Soc3 Limited, trading as Socium, which is a specialist technology recruitment and project solutions business operating out of London in the United Kingdom, Manila in the Philippines, and Dubai in the United Arab Emirates, with a global client base covering the commerce & industry, TMT and financial sectors.
Towards the end of the year FISER acquired a 51% in Detillens Limited, trading as Detillens, which is a specialist train and deploy consultancy business for early careers and emerging leaders talent in the financial services industry in the United Kingdom. Detillens’ model is to hire early careers consultants and deploy them to clients for up to two years, at which time many then join these clients as permanent employees. During the time when they are seconded to the clients, the consultants receive ongoing training from Detillens. FISER was not offering this consulting solution to its clients before this transaction, so the logic of the investment is to expand further the services we are able to offer clients within the group.
The group provides a variety of talent solutions to its clients, including deliverables based consultancy, teams as a service, project based recruitment initiatives, bespoke talent management solutions, retained search assignments as well as contingent permanent and contracting recruitment services.
Our strategy is to continue to grow each of these solutions in new geographical markets and industry sectors and also to continue to expand the range of technical disciplines we offer our clients. We have continued our strategy of diversification throughout 2024 and into 2025.
Despite slower trading against a backdrop of quieter economic activity as a whole in many of the markets in which we operate, the Directors are pleased with the performance for the year overall, with consolidated turnover of £60.5m, up from £51.5m, and consolidated gross profit (net fee income) of £14.5m, down from £15.0m in 2023. Operating profit was £2.2m, compared with £2.4m in 2023.
2024 saw continued softness in most of FISER’s UK markets, particularly in financial services, but with declining job flow levelling out towards the end of the year. Socium saw improving market conditions as the year progressed, particularly in Asia and mainland Europe. The Board kept a close eye on operating costs throughout the year, keeping a balance between ensuring the group remained well positioned to benefit from market improvements whilst remaining profitable and cash generative. The result of these actions meant that our key profit indicators, gross profit and operating profit, were only down by 3.6% and 7.9% respectively on their 2023 comparators.
The FISER Group Limited (“FISER”) is based in the United Kingdom with a head office in London and a regional office in Manchester. FISER operates under 3 trading brands, Bruin, IBAM Consulting and Ludgate Search. FISER also has staff located in the United States (New York), Canada (Toronto) and the United Arab Emirates (Dubai) who operate those markets as well as internationally. Certain staff in the United Kingdom also transact in the European markets, from our UK offices.
FISER predominantly operates within the financial services sector and within the recruitment and consultancy disciplines of Accounting & Finance, Actuarial & Pricing, Broking & Underwriting, Change Management & Transformation, Data & Analytics, Distribution & Marketing, Governance, HR, Legal, Middle and Front Office Investments, Operations, Pensions & Employee Benefits, Real Estate and Technology. FISER’s client base comprises many of the leading and fast growth financial and professional institutions within the asset management, banking and insurance sectors as well as fintech, insurtech, private equity, private debt and other alternatives firms.
FISER also holds a 51% investment in Soc3 Limited, trading as Socium, which is a specialist technology recruitment and project solutions business operating out of London in the United Kingdom, Manila in the Philippines, and Dubai in the United Arab Emirates, with a global client base covering the commerce & industry, TMT and financial sectors.
Towards the end of the year FISER acquired a 51% in Detillens Limited, trading as Detillens, which is a specialist train and deploy consultancy business for early careers and emerging leaders talent in the financial services industry in the United Kingdom. Detillens’ model is to hire early careers consultants and deploy them to clients for up to two years, at which time many then join these clients as permanent employees. During the time when they are seconded to the clients, the consultants receive ongoing training from Detillens. FISER was not offering this consulting solution to its clients before this transaction, so the logic of the investment is to expand further the services we are able to offer clients within the group.
The group provides a variety of talent solutions to its clients, including deliverables based consultancy, teams as a service, project based recruitment initiatives, bespoke talent management solutions, retained search assignments as well as contingent permanent and contracting recruitment services.
Our strategy is to continue to grow each of these solutions in new geographical markets and industry sectors and also to continue to expand the range of technical disciplines we offer our clients. We have continued our strategy of diversification throughout 2024 and into 2025.
Despite slower trading against a backdrop of quieter economic activity as a whole in many of the markets in which we operate, the Directors are pleased with the performance for the year overall, with consolidated turnover of £60.5m, up from £51.5m, and consolidated gross profit (net fee income) of £14.5m, down from £15.0m in 2023. Operating profit was £2.2m, compared with £2.4m in 2023.
2024 saw continued softness in most of FISER’s UK markets, particularly in financial services, but with declining job flow levelling out towards the end of the year. Socium saw improving market conditions as the year progressed, particularly in Asia and mainland Europe. The Board kept a close eye on operating costs throughout the year, keeping a balance between ensuring the group remained well positioned to benefit from market improvements whilst remaining profitable and cash generative. The result of these actions meant that our key profit indicators, gross profit and operating profit, were only down by 3.6% and 7.9% respectively on their 2023 comparators.
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THE FISER GROUP LIMITED
Group strategic report (continued)
For the Year Ended 31 December 2024
Once again, the directors are immensely proud of the commitment and hard work of our employees throughout the year as they continued to adjust to difficult trading conditions whilst continuing to deliver an exceptional service to our clients and candidates. Maintaining the Group’s high performance and quality-of-service culture remains a top priority, with ongoing flexible working practices meaning everyone has to work harder than ever to sustain a collegiate and collaborative culture. The Group’s performance and values-based culture are a testament to the dedication and commitment of its staff.
Enduring key risks affecting the company include economic and political uncertainty and its implications on the employment market and loss of key personnel. This risk was particularly acute in 2023 and 2024 and has continued into 2025 with the significant changes to US foreign and trading policy in particular under the new US government. In addition to these, key risks in 2024 included the desire to retain staff in a market where cost of living remained a major issue for most at a time where clients were not hiring as much as in prior years. Our performance shows that we are well placed to weather any changes in the economic environment. We continue to mitigate the risk of personnel loss through continuous investment in staff development, performance based incentives and long term incentives for key staff.
Liquidity and credit risk are also seen as significant to the company. We manage our cash flow using invoice discounting and mitigate our credit risk by having a diverse range of blue chip clients. As a result we have a very low level of bad debts and had none in 2024 (and only one in 2023).
The uncertain economic sentiment we experienced in 2023 and 2024 has continued into 2025, although with more stability in the UK government compared to prior years we have seen a return to growth in our UK markets in 2025 so far. Clients, especially those in financial services, remain cautious on their hiring, but we have worked hard to diversify our client base and identify those businesses which are growing and are in need of our services. As a result of improving revenue in 2025, the directors have been able to invest selectively in new talent in markets we have identified as key for our future growth.
In view of the above, the directors believe that the company has adequate resources and is well placed to manage its business risks successfully.
Liquidity and credit risk are also seen as significant to the company. We manage our cash flow using invoice discounting and mitigate our credit risk by having a diverse range of blue chip clients. As a result we have a very low level of bad debts and had none in 2024 (and only one in 2023).
The uncertain economic sentiment we experienced in 2023 and 2024 has continued into 2025, although with more stability in the UK government compared to prior years we have seen a return to growth in our UK markets in 2025 so far. Clients, especially those in financial services, remain cautious on their hiring, but we have worked hard to diversify our client base and identify those businesses which are growing and are in need of our services. As a result of improving revenue in 2025, the directors have been able to invest selectively in new talent in markets we have identified as key for our future growth.
In view of the above, the directors believe that the company has adequate resources and is well placed to manage its business risks successfully.
The key performance indicators of the company were as follows:
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THE FISER GROUP LIMITED
Group strategic report (continued)
For the Year Ended 31 December 2024
As a recruitment and talent consulting business, FISER considers its key stakeholders to be its employees, contractors, consultants and clients.
Decision making
The main FISER Board meets a number of times each year. The larger operational director group meets regularly, on a mixture of a weekly basis and more in depth on a quarterly basis. The main Board is kept updated on operational and financial matters relating to the group through various sources which includes briefings by senior management of business units, performance reports together with analysis and feedback.
The Board takes a view on strategic long term decisions based on research, financial and analytical modelling, seasoned experience in the sector, professional advice and through engagement with employees, contractors, consultants and clients. These decisions could include new sectors, acquisition opportunities and strategic partnerships.
Stakeholder engagement
Our vision is to be the best, working with the best. We take pride and passion in providing a highly skilled service to our clients and candidates. And we aim to recruit exceptional talent to work in or for our business, be they employees, contractors or consultants.
We routinely ask our clients and candidates for feedback on our work, whether or not it has resulted in a successful outcome, and use this feedback to improve, enhance our training or reward as appropriate. We care deeply about the service we provide and our teams strive to continuously improve. We take particular pride in our ability to find talent for the hardest to fill roles and/or for positions which have remained unfilled for some time.
Our values include our expertise, our passion, our integrity and our honesty and over our 10 year history we have worked hard to ensure that our brands are synonymous with these values.
We know that to achieve our strategic aims, our talent base is critical to success. We therefore place particular importance on employee engagement and every member of the Board makes every effort to take a personal interest in every member of the FISER community as we know this translates to an engaged client and candidate base and resultant commercial success.
Examples of our employee engagement strategies include:
Decision making
The main FISER Board meets a number of times each year. The larger operational director group meets regularly, on a mixture of a weekly basis and more in depth on a quarterly basis. The main Board is kept updated on operational and financial matters relating to the group through various sources which includes briefings by senior management of business units, performance reports together with analysis and feedback.
The Board takes a view on strategic long term decisions based on research, financial and analytical modelling, seasoned experience in the sector, professional advice and through engagement with employees, contractors, consultants and clients. These decisions could include new sectors, acquisition opportunities and strategic partnerships.
Stakeholder engagement
Our vision is to be the best, working with the best. We take pride and passion in providing a highly skilled service to our clients and candidates. And we aim to recruit exceptional talent to work in or for our business, be they employees, contractors or consultants.
We routinely ask our clients and candidates for feedback on our work, whether or not it has resulted in a successful outcome, and use this feedback to improve, enhance our training or reward as appropriate. We care deeply about the service we provide and our teams strive to continuously improve. We take particular pride in our ability to find talent for the hardest to fill roles and/or for positions which have remained unfilled for some time.
Our values include our expertise, our passion, our integrity and our honesty and over our 10 year history we have worked hard to ensure that our brands are synonymous with these values.
We know that to achieve our strategic aims, our talent base is critical to success. We therefore place particular importance on employee engagement and every member of the Board makes every effort to take a personal interest in every member of the FISER community as we know this translates to an engaged client and candidate base and resultant commercial success.
Examples of our employee engagement strategies include:
∙The regular meeting of a wellbeing committee made up of representatives from all areas of the business and chaired by a Board director, to consider all areas of employee wellbeing and satisfaction, which ideas and feedback actioned and implemented swiftly. We encourage all new starters to join a workstream upon commencing employment. The workstreams include: Ethnicity, Neurodiversity, LGBTQ+, Social Mobility, Gender, Sustainability, Charity and Volunteering, Wellbeing, AI Trailblazers and Active Bruin.
∙The regular meeting of our ESG, LGBTQ+ and DE&I committees, each of which are also made up of representatives from all areas of the business and are chaired by a Board director and which meet to come up with practical ways in which we can engage with all colleagues on a wide range of environmental and social issues. The appointment and professional training of mental health first aiders to be an independent and discreet port of call for any member of our team suffering from mental ill health. We also partner with Mental Health First Aiders to provide external training to our clients on Mental Health Wellbeing.
∙An external and confidential employee voice service, available to all members of staff, run by independent HR professionals.
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THE FISER GROUP LIMITED
Group strategic report (continued)
For the Year Ended 31 December 2024
∙Regular employee surveys to track levels of engagement and wellbeing. The output of these surveys is reviewed and used to form part of the FISER’s people strategy.
∙Significant levels of investment in training and development, including internal company wide learning events, optional lunch & learn sessions, courses run by external training providers and mentoring opportunities including our membership of the Mission Include programme.
∙A generous benefits package which includes market leading salaries and bonus schemes, cutting edge flexible working practices, paid and unpaid sabbaticals, private medical insurance, pension contributions and others. We aim to differentiate ourselves in a highly competitive talent market and to attract and retain high performance employees.
In addition, the Board recognises that engagement with our contractors and clients is vitally important. Our consultants regularly meet with contractors and clients to fully understand their dynamic requirements and to provide expert advice for them to make fully informed talent decisions. We hold regular events for contractors and clients, usually in the form of breakfast seminars focused on technical, employment or diversity topics.
In its relationship with suppliers, FISER seeks to maintain a reputation for fairness and high standards through striving for contracts that provide mutual benefit and ensuring that suppliers are paid on agreed terms.
Diversity, Equity and Inclusion
As a business we are vocal champions for diversity and are proud of the reputation we have built in this area. We have been recognised by a number of industry awards for our successes and knowledge; including the Deloitte award for Diversity and Inclusion at the Talent International Annual Recruitment Awards (twice), ‘Recruiter of the Year’ at the Women in Finance Awards for our “exceptional contribution to the financial services sector” and ‘Diversity Champion of the Year’ (highly commended status) at the REC Awards.
Diversity is, and always has been, integral to our business and is the benchmark for every aspect of the way we work with our clients and candidates, as well as support our people. As a consequence of our substantial reputation in this area, we are regularly approached for commentary in the national press on issues surrounding diversity and talent management, including the Telegraph, City AM, the Evening Standard and the FT.
Our focus on inclusive recruitment provides our clients a unique platform to apply best practice in diverse talent pipelining, and access hard to find talent in financial services.
We have also been involved in providing guidelines for both clients and industry bodies on mental health, social mobility, gender diversity and LGBTQ+ recruitment.
Examples include writing The Diversity Project’s guidelines for diverse hiring, assisting the REC (Recruitment & Employment Confederation) in putting together a response to the government’s proposals for Ethnicity Pay Gap Reporting and partnering with InterInvest to design a framework for active allyship training to support LGBT+ employees. We are a founding partner of InterInvest and the sole Recruitment Agency to partner with them.
In the age of ever evolving technology and AI, we ensure that we are continuing to improve our resources to support Diverse Hiring and DE&I. An example of this is for certain projects such as early careers work, we utilise a bespoke anonymous hiring recruitment platform that provides world-leading behavioural science to remove bias and improve predictive validity in hiring. This is a unique service that requires no CVs to be presented, as candidates are required to answer set questions as their application, allowing for a complete blind hiring process until interview stage. Anonymised applications and predictive, skill-based assessments, enables our process to identify the very best talent that might have been missed due to unconscious bias.
In its relationship with suppliers, FISER seeks to maintain a reputation for fairness and high standards through striving for contracts that provide mutual benefit and ensuring that suppliers are paid on agreed terms.
Diversity, Equity and Inclusion
As a business we are vocal champions for diversity and are proud of the reputation we have built in this area. We have been recognised by a number of industry awards for our successes and knowledge; including the Deloitte award for Diversity and Inclusion at the Talent International Annual Recruitment Awards (twice), ‘Recruiter of the Year’ at the Women in Finance Awards for our “exceptional contribution to the financial services sector” and ‘Diversity Champion of the Year’ (highly commended status) at the REC Awards.
Diversity is, and always has been, integral to our business and is the benchmark for every aspect of the way we work with our clients and candidates, as well as support our people. As a consequence of our substantial reputation in this area, we are regularly approached for commentary in the national press on issues surrounding diversity and talent management, including the Telegraph, City AM, the Evening Standard and the FT.
Our focus on inclusive recruitment provides our clients a unique platform to apply best practice in diverse talent pipelining, and access hard to find talent in financial services.
We have also been involved in providing guidelines for both clients and industry bodies on mental health, social mobility, gender diversity and LGBTQ+ recruitment.
Examples include writing The Diversity Project’s guidelines for diverse hiring, assisting the REC (Recruitment & Employment Confederation) in putting together a response to the government’s proposals for Ethnicity Pay Gap Reporting and partnering with InterInvest to design a framework for active allyship training to support LGBT+ employees. We are a founding partner of InterInvest and the sole Recruitment Agency to partner with them.
In the age of ever evolving technology and AI, we ensure that we are continuing to improve our resources to support Diverse Hiring and DE&I. An example of this is for certain projects such as early careers work, we utilise a bespoke anonymous hiring recruitment platform that provides world-leading behavioural science to remove bias and improve predictive validity in hiring. This is a unique service that requires no CVs to be presented, as candidates are required to answer set questions as their application, allowing for a complete blind hiring process until interview stage. Anonymised applications and predictive, skill-based assessments, enables our process to identify the very best talent that might have been missed due to unconscious bias.
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THE FISER GROUP LIMITED
Group strategic report (continued)
For the Year Ended 31 December 2024
We also encourage all consultants and also clients to use our bespoke gender bias decoder tool which analyses documentation such as job specifications and job adverts to identify if they are using masculine or feminine coded language. This tool was inspired by a research paper written by Danielle Gaucher, Justin Friesen, and Aaron C. Kay back in 2011.
All these tools enable us to support our clients in meeting their internal and external diversity objectives, including strategic talent pipelining, meeting reporting obligations and best practice for inclusion frameworks.
Diversity is not just about sourcing and recruitment, it is also a question of retention, talent pipelining and succession planning. With this in mind we have developed and run a series of bespoke training seminars specifically designed to assist financial institutions to overcome barriers to gender balance in talent management, and design for diversity.
All our consultants are trained in unconscious bias, diverse sourcing approaches and inclusive talent management processes. We encourage our clients to consider the use of blind CVs in building a more diverse workforce and can assist in best practice implementation. We regularly provide detailed reports for roles we work by highlighting diversity ratios between CVs submitted, interviews and placements.
We have also partnered with external organisations including Moving Ahead, Diversity Project, UpRreach, InterInvest, Migrant Leaders, Black Women in Asset Management, Women in Banking and Finance, ican: The Insurance Cultural Awareness Network, myGWork and Mission Include to further promote diversity in our client base.
Within our own business, we obviously recognise the importance of having a diverse workforce. We promote fairness and equality through a number of policies, which include a flexible working policy and parental leave policies with equal maternity, paternity and adoption leave. We are proud to have achieved Disability Confident Employer status and have committed to a number of industry initiatives such as the Race at Work Charter and The Social Mobility Pledge.
We have also invested in industry advocacy programmes such as 10,000 Black Interns and Programme One to ensure that our own talent pipeline and recruitment processes are diverse and inclusive. We have hosted interns throughout the year for six-week internships, giving them the opportunity to gain a deeper understanding of the financial services industry. These internships also help participants enhance their CVs and build valuable experience. Programme One is specifically designed for recruitment businesses to address and remove barriers that inhibit the engagement of black talent in the recruitment sector. This includes mentorship programmes, and we encourage all staff members to either volunteer as mentors or sign up to receive mentorship themselves. Currently, we have employees participating in the programme as both mentors and mentees.
Sustainability
All these tools enable us to support our clients in meeting their internal and external diversity objectives, including strategic talent pipelining, meeting reporting obligations and best practice for inclusion frameworks.
Diversity is not just about sourcing and recruitment, it is also a question of retention, talent pipelining and succession planning. With this in mind we have developed and run a series of bespoke training seminars specifically designed to assist financial institutions to overcome barriers to gender balance in talent management, and design for diversity.
All our consultants are trained in unconscious bias, diverse sourcing approaches and inclusive talent management processes. We encourage our clients to consider the use of blind CVs in building a more diverse workforce and can assist in best practice implementation. We regularly provide detailed reports for roles we work by highlighting diversity ratios between CVs submitted, interviews and placements.
We have also partnered with external organisations including Moving Ahead, Diversity Project, UpRreach, InterInvest, Migrant Leaders, Black Women in Asset Management, Women in Banking and Finance, ican: The Insurance Cultural Awareness Network, myGWork and Mission Include to further promote diversity in our client base.
Within our own business, we obviously recognise the importance of having a diverse workforce. We promote fairness and equality through a number of policies, which include a flexible working policy and parental leave policies with equal maternity, paternity and adoption leave. We are proud to have achieved Disability Confident Employer status and have committed to a number of industry initiatives such as the Race at Work Charter and The Social Mobility Pledge.
We have also invested in industry advocacy programmes such as 10,000 Black Interns and Programme One to ensure that our own talent pipeline and recruitment processes are diverse and inclusive. We have hosted interns throughout the year for six-week internships, giving them the opportunity to gain a deeper understanding of the financial services industry. These internships also help participants enhance their CVs and build valuable experience. Programme One is specifically designed for recruitment businesses to address and remove barriers that inhibit the engagement of black talent in the recruitment sector. This includes mentorship programmes, and we encourage all staff members to either volunteer as mentors or sign up to receive mentorship themselves. Currently, we have employees participating in the programme as both mentors and mentees.
Sustainability
As climate change continues to be a global concern, The FISER Group remains committed to embedding sustainability into our operations. In 2024, we made significant progress in formalising our ESG roadmap, improving transparency, and measuring our environmental impact.
Our sustainability progress in 2024:
∙We produced a detailed Sustainability Report outlining our environmental impact, including our total carbon footprint of 914 tCO2e, calculated using Ecologi Zero software.
∙We completed the Heart of the City Climate Action for SMEs training, which helped us measure our carbon footprint and develop a Net Zero Action Plan.
∙We improved our EcoVadis sustainability score, earning a Bronze Medal, placing us in the top 35% of companies assessed globally in the past 12 months.
∙Our office continues to be powered by 100% renewable energy, with smart occupancy sensor lighting and LED bulbs to reduce energy waste.
∙We continue to operate through WeWork and our office building holds a BREEAM 'Very Good' rating for sustainability.
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THE FISER GROUP LIMITED
Group strategic report (continued)
For the Year Ended 31 December 2024
∙We maintain extensive recycling facilities, supporting our zero waste to landfill mission. This includes recycling of food, paper, glass, aluminium, batteries, and clothing.
∙We provide reusable aluminium water cups, ceramic mugs, and metal cutlery to reduce single-use plastics.
∙Water-saving measures include dual flush toilets, adjustable flow taps, and an eco boiler in the kitchen.
∙As part of our ongoing sustainability journey, we are currently inquiring about the Science Based Targets initiative (SBTi) for SME businesses, to explore how we can align our environmental goals with globally recognized climate targets.
∙Our green travel policy includes:
- An electric vehicle scheme
- A cycle-to-work scheme with bike storage and showers
- A season ticket loan to encourage public transport
- A preference for virtual meetings to reduce travel emissions
- An electric vehicle scheme
- A cycle-to-work scheme with bike storage and showers
- A season ticket loan to encourage public transport
- A preference for virtual meetings to reduce travel emissions
Our sustainability objectives for 2025:
∙To continue meetings of our internal sustainability workstream to drive initiatives and monitor progress.
∙To ensure our policies are regularly reviewed and updated and align with any external environment advice and regulation.
∙To improve engagement with our volunteering programme, which includes two paid days annually and a list of recommended sustainable charities.
Engagement with the wider community
At FISER, we are proud of our engagement with various social enterprise initiatives. We have committed to several initiatives such as the Race at Work Charter, The Social Mobility Pledge, the Women in Finance Charter, and the Bank of England Out and Proud Charter.
Many of our employees are also pivotal members of external diversity and inclusion organisations, volunteering time, expertise and providing mentoring. For example, four of our employees participated in the Mission Include mentoring scheme during the course of the year.
We also arrange for members of the business to visit schools, where they provide mentorship and CV workshops, helping students build confidence and prepare for future career opportunities. Most recently, Detillens hosted a sports day for their local school, fostering community engagement and promoting wellbeing through fun and inclusive activities. These efforts reflect our commitment to social impact and creating meaningful connections beyond the workplace.
We actively encourage our staff to contribute to society and everyone is entitled to two fully paid “charity” days each year to contribute their time to good causes with which they have an interest. In addition, there are regular fundraising events held throughout the year in which a wide range of employees participate.
At FISER, we are proud of our engagement with various social enterprise initiatives. We have committed to several initiatives such as the Race at Work Charter, The Social Mobility Pledge, the Women in Finance Charter, and the Bank of England Out and Proud Charter.
Many of our employees are also pivotal members of external diversity and inclusion organisations, volunteering time, expertise and providing mentoring. For example, four of our employees participated in the Mission Include mentoring scheme during the course of the year.
We also arrange for members of the business to visit schools, where they provide mentorship and CV workshops, helping students build confidence and prepare for future career opportunities. Most recently, Detillens hosted a sports day for their local school, fostering community engagement and promoting wellbeing through fun and inclusive activities. These efforts reflect our commitment to social impact and creating meaningful connections beyond the workplace.
We actively encourage our staff to contribute to society and everyone is entitled to two fully paid “charity” days each year to contribute their time to good causes with which they have an interest. In addition, there are regular fundraising events held throughout the year in which a wide range of employees participate.
This report was approved by the board on 15 October 2025 and signed on its behalf.
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THE FISER GROUP LIMITED
Directors' report
For the Year Ended 31 December 2024
The directors present their report and the financial statements for the year ended 31 December 2024.
The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
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 the Group and to 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 the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation and minority interests, amounted to £1,070,654 (2023 - £1,094,585).
During the year the group paid total dividends amounting to £810,917 (2023: £2,392,660).
The directors who served during the year were:
The directors will continue to invest strategically in financial services markets which are resilient and growing, including new geographical markets in Europe as the Company’s clients continue to invest in their own European operations.
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THE FISER GROUP LIMITED
Directors' report (continued)
For the Year Ended 31 December 2024
Disclosures of strategic importance that would usually be contained in the Directors' report are presented in the Strategic report.
The auditors, Sayers Butterworth LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on 15 October 2025 and signed on its behalf.
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THE FISER GROUP LIMITED
Independent auditors' report to the members of The Fiser Group Limited
We have audited the financial statements of The Fiser Group Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2024, which comprise the Consolidated statement of comprehensive income, the , the Consolidated balance sheet, the Company balance sheet, the Consolidated statement of cash flows, the Consolidated statement of changes in equity, the Company statement of changes in equity and the related notes, including a summary of 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 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 Group's or the Parent 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.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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THE FISER GROUP LIMITED
Independent auditors' report to the members of The Fiser Group Limited (continued)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' report.
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THE FISER GROUP LIMITED
Independent auditors' report to the members of The Fiser Group Limited (continued)
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 Auditors' 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 Group 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:
Discussions were held with, and enquiries made of management and those charged with governance with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcome of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the Group.
The following laws and regulations were identified as being of significance to the Group:
Those laws and regulations considered to have a direct effect on the financial statements include UK financial reporting standards, Company Law, GDPR, Employment, Tax and Pension legislation, and distributable profits legislations. It is considered that there are no laws and regulations for which non-compliance may be fundamental to the operating aspects of the business.
Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: inquiries of management and those charged with governance as to whether the Group complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; testing the appropriateness of entries in the nominal ledger, including journal entries; reviewing transactions around the end of the reporting period; and the performance of analytical procedures to identify unexpected movements in account balances which may be indicative of fraud.
No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the Group's controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).
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THE FISER GROUP LIMITED
Independent auditors' report to the members of The Fiser Group Limited (continued)
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' 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 Auditors' 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.
for and on behalf of
Chartered Accountants & Statutory Auditor
3rd Floor
12 Gough Square
EC4A 3DW
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THE FISER GROUP LIMITED
Consolidated statement of comprehensive income
For the Year Ended 31 December 2024
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THE FISER GROUP LIMITED
Registered number: 07102496
Consolidated balance sheet
As at 31 December 2024
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THE FISER GROUP LIMITED
Registered number: 07102496
Consolidated balance sheet (continued)
As at 31 December 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 October 2025.
The notes on pages 24 to 48 form part of these financial statements.
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THE FISER GROUP LIMITED
Registered number: 07102496
Company balance sheet
As at 31 December 2024
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THE FISER GROUP LIMITED
Registered number: 07102496
Company balance sheet (continued)
As at 31 December 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 October 2025 .
The notes on pages 24 to 48 form part of these financial statements.
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