Registered number
03752505
RISK MANAGEMENT LIMITED
Unaudited Filleted Accounts
31 March 2023
RISK MANAGEMENT LIMITED
Registered number: 03752505
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 25,415 27,578
Current assets
Debtors 4 100,938 140,321
Cash at bank and in hand 210,983 189,320
311,921 329,641
Creditors: amounts falling due within one year 5 (64,581) (97,645)
Net current assets 247,340 231,996
Total assets less current liabilities 272,755 259,574
Provisions for liabilities (4,828) (5,240)
Net assets 267,927 254,334
Capital and reserves
Called up share capital 100 100
Profit and loss account 267,827 254,234
Shareholders' funds 267,927 254,334
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the board on 21 September 2023
M S Price R S Price
Director Director
RISK MANAGEMENT LIMITED
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and value added taxes. Turnover is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance method
Motor vehicles 25% reducing balance method
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 27,989 25,423 53,412
Additions 6,488 - 6,488
Disposals (1,165) - (1,165)
At 31 March 2023 33,312 25,423 58,735
Depreciation
At 1 April 2022 14,519 11,315 25,834
Charge for the year 4,944 3,527 8,471
On disposals (985) - (985)
At 31 March 2023 18,478 14,842 33,320
Net book value
At 31 March 2023 14,834 10,581 25,415
At 31 March 2022 13,470 14,108 27,578
4 Debtors 2023 2022
£ £
Trade debtors 83,466 124,352
Other debtors 17,472 15,969
100,938 140,321
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 33,546 39,243
Taxation and social security costs 26,937 54,057
Other creditors 4,098 4,345
64,581 97,645
6 Events after the reporting date
There were no significant events since the balance sheet date that in the opinion of the directors would effect these accounts.
7 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 9,396 23,500
8 Related party transactions
The company paid dividends of £2,200 (2022 - £4,620) to M S Price and £1,800 (2022 - £3,780) to Mrs T Price, both of whom are directors of the company.
9 Other information
RISK MANAGEMENT LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Unit 10 Coopers Place
Godalming
Surrey
GU8 5SZ
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