1 false false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 300,000 300,000 300,000 xbrli:pure xbrli:shares iso4217:GBP 03890474 2022-04-01 2023-03-31 03890474 2023-03-31 03890474 2022-03-31 03890474 2021-04-01 2022-03-31 03890474 2022-03-31 03890474 2021-03-31 03890474 bus:Director1 2022-04-01 2023-03-31 03890474 core:WithinOneYear 2023-03-31 03890474 core:WithinOneYear 2022-03-31 03890474 core:ShareCapital 2023-03-31 03890474 core:ShareCapital 2022-03-31 03890474 core:SharePremium 2023-03-31 03890474 core:SharePremium 2022-03-31 03890474 core:CapitalRedemptionReserve 2023-03-31 03890474 core:CapitalRedemptionReserve 2022-03-31 03890474 core:RetainedEarningsAccumulatedLosses 2023-03-31 03890474 core:RetainedEarningsAccumulatedLosses 2022-03-31 03890474 bus:SmallEntities 2022-04-01 2023-03-31 03890474 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 03890474 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 03890474 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 03890474 bus:FullAccounts 2022-04-01 2023-03-31 03890474 core:ComputerEquipment 2022-04-01 2023-03-31 03890474 core:IntangibleAssetsOtherThanGoodwill 2023-03-31 03890474 core:IntangibleAssetsOtherThanGoodwill 2022-03-31
COMPANY REGISTRATION NUMBER: 03890474
Riskspace Group Limited
Filleted Unaudited Financial Statements
31 March 2023
Riskspace Group Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
Fixed assets
Intangible assets
5
300,000
300,000
Current assets
Debtors
7
3,499
5,874
Cash at bank and in hand
873
2,363
-------
-------
4,372
8,237
Creditors: amounts falling due within one year
8
933,186
834,065
---------
---------
Net current liabilities
928,814
825,828
---------
---------
Total assets less current liabilities
( 628,814)
( 525,828)
---------
---------
Net liabilities
( 628,814)
( 525,828)
---------
---------
Capital and reserves
Called up share capital
431
431
Share premium account
1,721,242
1,721,242
Capital redemption reserve
125
125
Profit and loss account
( 2,350,612)
( 2,247,626)
------------
------------
Shareholders deficit
( 628,814)
( 525,828)
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Riskspace Group Limited
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 2 October 2023 , and are signed on behalf of the board by:
JM Kinder
Director
Company registration number: 03890474
Riskspace Group Limited
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 56 Thornhill Square, London, N1 1BE, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The director has confirmed the continued support of the major creditor, a company which is under common ownership. The director has considered the current and future cash requirements of the company and with continued support of the major creditor believe that preparing the accounts on going concern basis is wholly appropriate.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% straight line
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Intangible assets
Software
£
Cost
At 1 April 2022 and 31 March 2023
300,000
---------
Amortisation
At 1 April 2022 and 31 March 2023
---------
Carrying amount
At 31 March 2023
300,000
---------
At 31 March 2022
300,000
---------
6. Tangible assets
Equipment
£
Cost
At 1 April 2022 and 31 March 2023
1,320
-------
Depreciation
At 1 April 2022 and 31 March 2023
1,320
-------
Carrying amount
At 31 March 2023
-------
At 31 March 2022
-------
7. Debtors
2023
2022
£
£
Other debtors
3,499
5,874
-------
-------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Social security and other taxes
1,399
Other creditors
933,186
832,666
---------
---------
933,186
834,065
---------
---------
9. Related party transactions
Included within the other creditor is an amount of £927,461 (2022: £830,661) payable to Rivertrade Limited, a company related by virtue of common ownership.