Global Risk Limited 08916196 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is Private security activities Digita Accounts Production Advanced 6.30.9574.0 true true 08916196 2022-03-01 2023-02-28 08916196 2023-02-28 08916196 bus:OrdinaryShareClass1 2023-02-28 08916196 core:RetainedEarningsAccumulatedLosses 2023-02-28 08916196 core:ShareCapital 2023-02-28 08916196 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 08916196 core:FurnitureFittingsToolsEquipment 2023-02-28 08916196 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-02-28 08916196 bus:SmallEntities 2022-03-01 2023-02-28 08916196 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 08916196 bus:FullAccounts 2022-03-01 2023-02-28 08916196 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 08916196 bus:RegisteredOffice 2022-03-01 2023-02-28 08916196 bus:Director1 2022-03-01 2023-02-28 08916196 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 08916196 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 08916196 core:FurnitureFittingsToolsEquipment 2022-03-01 2023-02-28 08916196 countries:England 2022-03-01 2023-02-28 08916196 2022-02-28 08916196 core:FurnitureFittingsToolsEquipment 2022-02-28 08916196 2021-03-01 2022-02-28 08916196 2022-02-28 08916196 bus:OrdinaryShareClass1 2022-02-28 08916196 core:RetainedEarningsAccumulatedLosses 2022-02-28 08916196 core:ShareCapital 2022-02-28 08916196 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 08916196 core:FurnitureFittingsToolsEquipment 2022-02-28 08916196 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08916196

Global Risk Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Global Risk Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Global Risk Limited

(Registration number: 08916196)
Balance Sheet as at 28 February 2023

Note

2023
 £

2022
 £

Fixed assets

 

Tangible assets

4

-

207

Current assets

 

Debtors

5

120,980

51,056

Investments

6

4,049

-

Cash at bank and in hand

 

51,280

56,081

 

176,309

107,137

Creditors: Amounts falling due within one year

7

(152,648)

(149,115)

Net current assets/(liabilities)

 

23,661

(41,978)

Net assets/(liabilities)

 

23,661

(41,771)

Capital and reserves

 

Called up share capital

9

100

100

Profit and loss account

23,561

(41,871)

Total equity

 

23,661

(41,771)

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 prepared and 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 has been taken.

Approved and authorised by the director on 29 November 2023
 

S M Szczesnowicz

Director

 

Global Risk Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

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

The address of its registered office is:
110 Providence Square
Jacob Street
London
SE1 2EB
England

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.

Basis of preparation

These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including section 1A of Financial Reporting Standard 102 - 'The Financial Reporting standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102 1A'), and with the Companies Act 2006.

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.

Going concern

After reviewing the company's forecasts and projections, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future due to his continued support. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historic experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Specifically judgements and estimates are required in determining the recoverability of debtors.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

 

Global Risk Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Tangible assets

Tangible assets is stated in the statement of financial position 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 & equipment

20% straight line

Investments

Investments comprise amounts transferred to cryptocurrency accounts. Investments are measured initially at cost and are subsequently restated to market value at the year end.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Financial assets are classified as financial assets at fair value through profit or loss, loans and debtors, held-to-maturity investments, available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial assets at initial recognition.

Financial liabilities are classified as financial liabilities at fair value through profit and loss, loans and borrowings, trade and other creditors, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial liabilities at initial recognition.

 Recognition and measurement
All financial instruments are recognised initially at fair value plus transaction costs. Thereafter financial instruments are stated at amortised cost using the effective interest rate method (less impairment where appropriate) unless the effect of discounting would be immaterial in which case they are stated at cost (less impairment where appropriate). The exception to this are those financial instruments where it is a requirement to continue recording them at fair value through profit and loss.

 Impairment
Financial assets are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been affected.

 

Global Risk Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade and other debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Global Risk Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2022

1,027

1,027

At 28 February 2023

1,027

1,027

Depreciation

At 1 March 2022

820

820

Charge for the year

207

207

At 28 February 2023

1,027

1,027

Carrying amount

At 28 February 2023

-

-

At 28 February 2022

207

207

5

Debtors

2023
£

2022
£

Trade debtors

68,763

-

Other debtors

52,217

51,056

 

120,980

51,056

6

Current asset investments

2023
£

2022
£

Other investments

4,049

-

7

Creditors

Creditors: amounts falling due within one year

2023
 £

2022
 £

Due within one year

Other creditors

146,615

149,115

Corporation tax

6,033

-

152,648

149,115

 

Global Risk Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

8

Financial commitments, guarantees and contingencies

Contingent liabilities

The company is currently engaged in legal proceedings with a former customer. The outcome of these proceedings may result in the company having to return certain cash receipts in respect of services rendered in addition to settling damages should the legal proceedings determine this. Full provision has been made for the potential return of cash receipts but the director is not, at the time of signing the accounts, in a position to determine either the likelihood or the quantum of any damages that may become payable.

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

10

Related party transactions

Income and receivables from related parties

2023

Key management
£

Amounts receivable from related party

39,442

2022

Key management
£

Amounts receivable from related party

38,575