Company No: 11842506 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Current assets
Debtors	3	1,768,964		770,882
Cash at bank and in hand		44,916		14,344
		1,813,880		785,226
Creditors: amounts falling due within one year	4	( 1,846,316)		( 788,968)
Net current liabilities		(32,436)		(3,742)
Total assets less current liabilities		(32,436)		(3,742)
Net liabilities		( 32,436)		( 3,742)
Capital and reserves
Called-up share capital		1		1
Profit and loss account		( 32,437 )		( 3,743 )
Total shareholder's deficit		( 32,436)		( 3,742)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Believe Advisor Limited (registered number: 11842506) were approved and authorised for issue by the Board of Directors on 15 December 2025. They were signed on its behalf by:

R Wagstaff Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Believe Advisor Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1st Floor Barclays Bank, Heavens Walk, Doncaster, DN4 5HZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £32,436 (2023 - £3,742). The Company is supported through loans from fellow subsidiary companies. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the fellow subsidiary companies will continue to support the Company. The group within which the company resides was acquired by Pivotal Growth Limited, as described in note 7 and some liabilities of the parent company were settled at that time. After making enquiries, the directors believe that the company has sufficient funds to be able to meet its financial obligations as they fall due for at least 12 months from the date of approving the financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents miscellaneous income arising in the ordinary course of the Company’s activities. Income is recognised when the Company has provided the goods or services to which it relates, the amount can be measured reliably, and it is probable that the economic benefits will be received.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company (excluding directors) during the year.	0		0

During the year the directors did not receive any remuneration (2023: £Nil).

3. Debtors

	2024		2023
	£		£
Amounts owed by Group undertakings	1,768,964		769,951
Deferred tax asset	0		931
	1,768,964		770,882

4. Creditors: amounts falling due within one year

	2024		2023
	£		£
Amounts owed to Group undertakings	1,842,979		788,968
Other creditors	3,337		0
	1,846,316		788,968

5. Provision for liabilities

During the year, it was identified that the group within which the company resides had not correctly included VAT on a number of inter-company recharges. As a result, an additional VAT liability has been calculated and a provision recognised in the Group financial statements of £1.2m. This liability has been recognised in the company's parent, Believe Money Group Limited. This liability will be settled by the shareholders out of the proceeds received from the sale of the business to Pivotal Growth and a corresponding debtor has been recognised in the group financial statements. As a result, there is no impact on the Company statement of comprehensive income.

6. Audit Opinion

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

The audit report was signed by Helen Besant-Roberts on behalf of Hurst Accountants Limited.

7. Ultimate controlling party

At the start of the financial year, and at the year end, the Company’s immediate and ultimate controlling party was Oak Barrel Investments LLC, a company incorporated in the United States of America.

On 18 September 2025, Pivotal Growth Limited, a company incorporated in the United Kingdom, acquired 100% of the issued share capital of the Company. From that date, Pivotal Growth Limited became the immediate and ultimate controlling party of the Group.