Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31true2022-04-01falseNo description of principal activity1312falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05397976 2022-04-01 2023-03-31 05397976 2021-04-01 2022-03-31 05397976 2023-03-31 05397976 2022-03-31 05397976 c:Director2 2022-04-01 2023-03-31 05397976 d:MotorVehicles 2022-04-01 2023-03-31 05397976 d:MotorVehicles 2023-03-31 05397976 d:MotorVehicles 2022-03-31 05397976 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05397976 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 05397976 d:FurnitureFittings 2022-04-01 2023-03-31 05397976 d:FurnitureFittings 2023-03-31 05397976 d:FurnitureFittings 2022-03-31 05397976 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05397976 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 05397976 d:OfficeEquipment 2022-04-01 2023-03-31 05397976 d:OfficeEquipment 2023-03-31 05397976 d:OfficeEquipment 2022-03-31 05397976 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05397976 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 05397976 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05397976 d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 05397976 d:CurrentFinancialInstruments 2023-03-31 05397976 d:CurrentFinancialInstruments 2022-03-31 05397976 d:Non-currentFinancialInstruments 2023-03-31 05397976 d:Non-currentFinancialInstruments 2022-03-31 05397976 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 05397976 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 05397976 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 05397976 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 05397976 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 05397976 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 05397976 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 05397976 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 05397976 d:ShareCapital 2023-03-31 05397976 d:ShareCapital 2022-03-31 05397976 d:RetainedEarningsAccumulatedLosses 2023-03-31 05397976 d:RetainedEarningsAccumulatedLosses 2022-03-31 05397976 c:OrdinaryShareClass1 2022-04-01 2023-03-31 05397976 c:OrdinaryShareClass1 2023-03-31 05397976 c:OrdinaryShareClass1 2022-03-31 05397976 c:FRS102 2022-04-01 2023-03-31 05397976 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 05397976 c:FullAccounts 2022-04-01 2023-03-31 05397976 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 05397976 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 05397976 d:HirePurchaseContracts d:WithinOneYear 2022-03-31 05397976 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 05397976 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-03-31 05397976 2 2022-04-01 2023-03-31 05397976 6 2022-04-01 2023-03-31 05397976 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-03-31 05397976 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-03-31 05397976 d:LeasedAssetsHeldAsLessee 2023-03-31 05397976 d:LeasedAssetsHeldAsLessee 2022-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05397976










UMBRELLA RISK MANAGEMENT LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
UMBRELLA RISK MANAGEMENT LIMITED
REGISTERED NUMBER: 05397976

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2023
2022
2022
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
167,809
100,218

Investments
 5 
3,557
-

  
171,366
100,218

Current assets
  

Debtors: amounts falling due within one year
 6 
912,002
1,598,885

Cash at bank and in hand
 7 
452,190
799,181

  
1,364,192
2,398,066

Creditors: amounts falling due within one year
 8 
(1,328,405)
(2,129,368)

Net current assets
  
 
 
35,787
 
 
268,698

Total assets less current liabilities
  
207,153
368,916

Creditors: amounts falling due after more than one year
 9 
(104,005)
(89,300)

Provisions for liabilities
  

Deferred tax
  
(17,800)
(17,800)

  
 
 
(17,800)
 
 
(17,800)

Net assets
  
85,348
261,816


Capital and reserves
  

Called up share capital 
 12 
30
30

Profit and loss account
  
85,318
261,786

  
85,348
261,816


Page 1

 
UMBRELLA RISK MANAGEMENT LIMITED
REGISTERED NUMBER: 05397976
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 September 2023.




Mr N J Carter
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
UMBRELLA RISK MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Umbrella Risk Management Limited is a company domiciled in England and Wales, registration number 05397976.  The registered office is Dodwell House, Chilton Business Centre, Chilton, Bucks, HP18 9LS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
UMBRELLA RISK MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
UMBRELLA RISK MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income 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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Motor vehicles
-
20% reducing balance
Fixtures and fittings
-
20% reducing balance
Office equipment
-
20% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
UMBRELLA RISK MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

Page 6

 
UMBRELLA RISK MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.16

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 13 (2022 - 12).


4.


Tangible fixed assets





Motor vehicles
Fixtures & fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2022
161,152
7,111
112,259
280,522


Additions
123,990
945
4,914
129,849


Disposals
(79,474)
-
-
(79,474)



At 31 March 2023

205,668
8,056
117,173
330,897



Depreciation


At 1 April 2022
93,381
6,208
80,715
180,304


Charge for the year on owned assets
-
274
6,630
6,904


Charge for the year on financed assets
16,020
-
-
16,020


Disposals
(40,140)
-
-
(40,140)



At 31 March 2023

69,261
6,482
87,345
163,088



Net book value



At 31 March 2023
136,407
1,574
29,828
167,809



At 31 March 2022
67,771
903
31,544
100,218

Page 7

 
UMBRELLA RISK MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

           4.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Motor vehicles
136,407
67,771

136,407
67,771


5.


Fixed asset investments





Listed investments

£



Cost or valuation


Additions
3,557



At 31 March 2023
3,557





6.


Debtors

2023
2022
£
£


Trade debtors
642,927
1,117,011

Amounts owed by group undertakings
177,413
129,666

Other debtors
49,988
323,696

Prepayments and accrued income
41,674
28,512

912,002
1,598,885


Page 8

 
UMBRELLA RISK MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
452,190
799,181

452,190
799,181



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
28,200
28,200

Trade creditors
228,325
227,081

Other taxation and social security
94,115
186,948

Obligations under finance lease and hire purchase contracts
14,707
17,732

Other creditors
597,544
1,238,520

Accruals and deferred income
365,514
430,887

1,328,405
2,129,368



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
61,100
89,299

Net obligations under finance leases and hire purchase contracts
42,905
1

104,005
89,300


Page 9

 
UMBRELLA RISK MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
28,200
28,200


28,200
28,200

Amounts falling due 1-2 years

Bank loans
28,200
28,200


28,200
28,200

Amounts falling due 2-5 years

Bank loans
32,900
61,100


32,900
61,100


89,300
117,500



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
14,707
17,735

Between 1-5 years
42,905
-

57,612
17,735


12.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



30 (2022 - 30) Ordinary shares of £1.00 each
30
30


Page 10

 
UMBRELLA RISK MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

13.


Controlling party

The directors consider that Umbrella Holdings Limited, a company registered in England and Wales, is the ultimate parent company
The company was controlled during the current and previous period by Umbrella Holdings Limited by virtue of the fact that the company owns 100% of the ordinary share capital of the company.
The registered office of Umbrella Holdings Limited is Dodwell House, Chilton Business Centre, Chilton, Buckinghamshire, HP18 9LS.

 
Page 11