Company Registration No. 04346234 (England and Wales)
Risk Reward Ltd
Unaudited accounts
for the year ended 30 June 2023
Risk Reward Ltd
Unaudited accounts
Contents
Risk Reward Ltd
Company Information
for the year ended 30 June 2023
Company Number
04346234 (England and Wales)
Registered Office
47c Skylines Village, Limeharbour
Second Floor
London
E14 9TS
England
Accountants
TaxSense Accountants Ltd
203 West Street
Fareham
Hants
PO16 0EN
Risk Reward Ltd
Accountants' report
Accountants' report to the director of Risk Reward Ltd on the preparation of the unaudited statutory accounts for the year ended 30 June 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Risk Reward Ltd for the year ended
30 June 2023 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Risk Reward Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Risk Reward Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Risk Reward Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Risk Reward Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Risk Reward Ltd. You consider that Risk Reward Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Risk Reward Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
TaxSense Accountants Ltd
203 West Street
Fareham
Hants
PO16 0EN
23 October 2023
Risk Reward Ltd
Statement of financial position
as at 30 June 2023
Intangible assets
390,000
390,000
Tangible assets
12,268
10,005
Cash at bank and in hand
75,066
83,660
Creditors: amounts falling due within one year
(90,491)
(101,273)
Net current assets
78,400
137,400
Total assets less current liabilities
480,668
537,405
Creditors: amounts falling due after more than one year
(49,583)
(97,246)
Net assets
431,085
440,159
Called up share capital
10,000
10,000
Capital contribution reserve
125,000
125,000
Profit and loss account
296,085
305,159
Shareholders' funds
431,085
440,159
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 October 2023 and were signed on its behalf by
D W COX
Director
Company Registration No. 04346234
Risk Reward Ltd
Notes to the Accounts
for the year ended 30 June 2023
Risk Reward Ltd is a private company, limited by shares, registered in England and Wales, registration number 04346234. The registered office is 47c Skylines Village, Limeharbour, Second Floor, London, E14 9TS, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25 % reducing balance
Motor vehicles
25 % reducing balance
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
INTANGIBLE ASSETS
Intangible assets represent the acquisition/restructuring costs for the business and are at cost.
They are reviewed on an annual basis and include the Buckley Alan Limited acquisition.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services 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.
Risk Reward Ltd
Notes to the Accounts
for the year ended 30 June 2023
4
Intangible fixed assets
Other
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 July 2022
44,706
-
44,706
At 30 June 2023
45,270
5,500
50,770
At 1 July 2022
34,701
-
34,701
Charge for the year
2,588
1,213
3,801
At 30 June 2023
37,289
1,213
38,502
At 30 June 2023
7,981
4,287
12,268
At 30 June 2022
10,005
-
10,005
Amounts falling due within one year
Trade debtors
4,447
82,347
Other debtors
37,928
21,216
Risk Reward Ltd
Notes to the Accounts
for the year ended 30 June 2023
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
47,661
54,885
Trade creditors
13,179
21,235
Taxes and social security
1,324
6,875
Other creditors
15,928
15,454
Loans from directors
14,657
60
8
Creditors: amounts falling due after more than one year
2023
2022
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director Loan Account
(62)
69,432
84,027
(14,657)
(62)
69,432
84,027
(14,657)
10
Average number of employees
During the year the average number of employees was 5 (2022: 5).