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Registration number: 12246055

New Era Risk Limited

Unaudited Financial Statements

for the Period from 1 November 2021 to 9 March 2023

 

New Era Risk Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

New Era Risk Limited

(Registration number: 12246055)
Balance Sheet as at 9 March 2023

Note

2023
£

2021
£

Fixed assets

 

Tangible assets

4

1,064

3,431

Current assets

 

Debtors

5

27,586

35,637

Cash at bank and in hand

 

10,604

13,720

 

38,190

49,357

Creditors: Amounts falling due within one year

6

(99,112)

(42,538)

Net current (liabilities)/assets

 

(60,922)

6,819

Total assets less current liabilities

 

(59,858)

10,250

Creditors: Amounts falling due after more than one year

6

(4,991)

(7,779)

Provisions for liabilities

(202)

(652)

Net (liabilities)/assets

 

(65,051)

1,819

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

(65,053)

1,817

Shareholders' (deficit)/funds

 

(65,051)

1,819

For the financial period ending 9 March 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

New Era Risk Limited

(Registration number: 12246055)
Balance Sheet as at 9 March 2023

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Directors' Report has been taken.

Approved and authorised by the Board on 6 November 2023 and signed on its behalf by:
 

.........................................
Miss E J Burgess
Director

.........................................
Mr N A T Pedley
Director

 

New Era Risk Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2021 to 9 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Elmwood House
Ghyll Road
Guiseley
Leeds
LS20 9LT

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government Grants are recognised using the accrual model. Grants which relate to revenue shall be recognised in other operating income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.

Any amounts outstanding at the year end will be included within other debtors.

 

New Era Risk Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2021 to 9 March 2023

Tax

The tax expense for the period comprises current and deferred tax.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and computer equipment

25% reducing balance/straight line over 3 years

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 6 (2021 - 4).

 

New Era Risk Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2021 to 9 March 2023

4

Tangible assets

Fixtures, fittings and computer equipment
 £

Total
£

Cost or valuation

At 1 November 2021

5,400

5,400

At 9 March 2023

5,400

5,400

Depreciation

At 1 November 2021

1,969

1,969

Charge for the period

2,367

2,367

At 9 March 2023

4,336

4,336

Carrying amount

At 9 March 2023

1,064

1,064

At 31 October 2021

3,431

3,431

5

Debtors

Note

2023
£

2021
£

Amounts owed by participating interest

-

2,000

Other debtors

 

27,586

33,637

 

27,586

35,637

 

New Era Risk Limited

Notes to the Unaudited Financial Statements for the Period from 1 November 2021 to 9 March 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2021
£

Due within one year

 

Bank loan

2,147

2,262

Trade creditors

 

1,440

1,469

Taxation and social security

 

-

1,324

Other creditors

 

95,525

37,483

 

99,112

42,538

Creditors: amounts falling due after more than one year

Note

2023
£

2021
£

Due after one year

 

Bank loan

4,991

7,779