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Registered number: 07021346
FORESEESON UK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
TWP ACCOUNTING LLP
Chartered Accountants & Statutory Auditors
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
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FORESEESON UK LIMITED
COMPANY INFORMATION
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Chartered Accountants & Statutory Auditors
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FORESEESON UK LIMITED
REGISTERED NUMBER: 07021346
BALANCE SHEET
AS AT 31 DECEMBER 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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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 income and retained earnings 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 on 27 July 2026.
................................................
J Kwon
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The notes on pages 2 to 7 form part of these financial statements.
Page 1
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FORESEESON UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Foreseeson UK Limited is incorporated in England and Wales and limited by shares. The principal activity of the company during the year was acted as sale representative of its parent company, Foreseeson GmbH, to promote their products and maximise the sale of their products in various territories. The address of the registered office is given in the company information page of these financial statements.
The financial statements are presented in US dollar which is the functional currency of the company and rounded to the nearest $.
2.Accounting policies
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Basis of preparation of financial statements
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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 following principal accounting policies have been applied:
The director has received written support from the parent company that it will continue to support the company and is therefore confident that the Company has adequate resources to continue in operational existence for the foreseeable future and meet its financial obligations. Therefore they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
The company earns revenue in the form of commission income from its parent group. Commission is earned in exchange for the company’s sales and representation activities, which constitute a single performance obligation satisfied at the point the related gross profit is generated by the parent entity.
Revenue is recognised when the company becomes entitled to the commission under the terms of the intra-group agreement. Entitlement arises when the underlying sales to external customers have occurred and the related gross profit has been determined by the parent entity.
Under the intercompany agreement, if the company’s operating expenses exceed the calculated commission for the period, the parent company will include additional commission to ensure that all expenses are covered. This income is accrued within each monthly invoice throughout the year to ensure the commission is recognised in line with when expenses are incurred.
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.
Page 2
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FORESEESON UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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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:
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Depreciated over the terms of the lease of 24 months
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Fully depreciated in the first year of purchase
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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.
Stocks are valued, using the average cost basis, at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Stocks are recognised on the date the items are shipped from the supplier.
Short term debtors are measured at transaction price, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Short term creditors are measured at the transaction price.
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Foreign currency translation
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Monetary assets and liabilities denominated in foreign currencies are translated into dollars at rates of exchange ruling at the balance sheet date.
Transactions in foreign currencies are translated into dollars at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the Profit and loss account.
Page 3
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FORESEESON UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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 balance sheet date in the countries where the Company operates and generates income.
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During the year, the Company obtained the following services from the Company's auditor:
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The average monthly number of employees, including directors, during the year was 5 (2024 - 6).
Page 4
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FORESEESON UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Charge for the year on owned assets
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Amounts owed by group undertakings
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Prepayments and accrued income
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Page 5
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FORESEESON UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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Profit and loss account
Profit and loss account represents the profit earned during the year net of adjustments.
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to $21,720 (2024 - $57,093). Contributions totalling $2,064 (2024 - $38,903) were payable to the fund at the balance sheet date.
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Commitments under operating leases
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At 31 December 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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Later than 1 year and not later than 5 years
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Page 6
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FORESEESON UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Related party transactions
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During the year, Foreseeson UK Limited received commission income of $926,653 (2024 - $1,108,015) from Foreseeson GmbH, the parent company. At the balance sheet date Foreseeson GmbH owed $197,400 (2024 - $225,847) to Foreseeson UK Limited.
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Foreseeson GmbH (a company incorporated in the Germany) is the registered holder of 100% of the share capital of the company. Foreseeson GmbH is wholly owned by Forseeson Cutom Displays, Inc (a company incorporated in the United States of America). Foreseeson Custom Displays, Inc is wholly owned by I Kang, who is the controlling party.
The auditor's report on the financial statements for the year ended 31 December 2025 was unqualified.
The audit report was signed on 27 July 2026 by Philip Munk FCA FCCA (Senior Statutory Auditor) on behalf of TWP Accounting LLP.
This report is made solely to the company’s members, as a body, in accordance with Sections 495 and 496 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.
Page 7
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