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COMPANY REGISTRATION NUMBER: 07025511
Scott Brown Risk Management Surveyors Limited
Filleted Unaudited Financial Statements
31 January 2023
Scott Brown Risk Management Surveyors Limited
Financial Statements
Year ended 31 January 2023
Contents
Page
Report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
4
Scott Brown Risk Management Surveyors Limited
Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Scott Brown Risk Management Surveyors Limited
Year ended 31 January 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Scott Brown Risk Management Surveyors Limited for the year ended 31 January 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
JAY & JAY PARTNERSHIP LIMITED Chartered Certified Accountants
2 Chesterfield Buildings Westbourne Place Clifton Bristol BS8 1RU
23 October 2023
Scott Brown Risk Management Surveyors Limited
Statement of Financial Position
31 January 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
4
735
949
Investments
5
5,000
5,000
-------
-------
5,735
5,949
Current assets
Debtors
6
143
317
Cash at bank and in hand
153,753
154,514
---------
---------
153,896
154,831
Creditors: amounts falling due within one year
7
2,399
2,267
---------
---------
Net current assets
151,497
152,564
---------
---------
Total assets less current liabilities
157,232
158,513
---------
---------
Net assets
157,232
158,513
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
157,132
158,413
---------
---------
Shareholders funds
157,232
158,513
---------
---------
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 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Scott Brown Risk Management Surveyors Limited
Statement of Financial Position (continued)
31 January 2023
These financial statements were approved by the board of directors and authorised for issue on 23 October 2023 , and are signed on behalf of the board by:
Mr J. Scott Brown
Director
Company registration number: 07025511
Scott Brown Risk Management Surveyors Limited
Notes to the Financial Statements
Year ended 31 January 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 2 Chesterfield Buildings, Westbourne Place, Clifton, Bristol, BS8 1RU.
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.
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:
Fixtures and fittings
-
15% reducing balance
Equipment
-
25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
4. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 February 2022 and 31 January 2023
780
3,458
4,238
----
-------
-------
Depreciation
At 1 February 2022
550
2,739
3,289
Charge for the year
34
180
214
----
-------
-------
At 31 January 2023
584
2,919
3,503
----
-------
-------
Carrying amount
At 31 January 2023
196
539
735
----
-------
-------
At 31 January 2022
230
719
949
----
-------
-------
5. Investments
Unlisted investments
£
Cost
At 1 February 2022 and 31 January 2023
5,000
-------
Impairment
At 1 February 2022 and 31 January 2023
-------
Carrying amount
At 31 January 2023
5,000
-------
At 31 January 2022
5,000
-------
The company's original investment was for 5,000 SB Ordinary Shares in Rebuild Cost Assessment Ltd.
On 22 December 2021 the company entered into a share exchange agreement, acquiring 63,207 H Ordinary Shares of £0.01 each in Riskstop Group Ltd, in exchange for 5,000 SB Shares of £1.00 each in Rebuild Cost Assessment Ltd, and the company's investment in Riskstop Group Ltd represented 13.3% of the total shares in issue.
On 31 December 2022 the company entered into a share exchange agreement, acquiring 1,666,489 H Ordinary Shares of £1 each in Riskstop Group Holdings Ltd, in exchange for 63,207 H Ordinary Shares of £0.01 each in Riskstop Group Ltd, and the company's investment in Riskstop Group Holdings Ltd represents 13.3% of the total shares in issue.
6. Debtors
2023
2022
£
£
Other debtors
143
317
----
----
7. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
2,399
2,267
-------
-------
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr and Mrs J Scott Brown
( 71)
( 132)
( 203)
----
----
----
----
2022
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr and Mrs J Scott Brown
( 78)
5,052
( 5,045)
( 71)
----
-------
-------
----
This loan is interest free and repayable on demand.