Caseware UK (AP4) 2023.0.135 2023.0.135 2023-07-312023-07-31software development2022-08-011false1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11481990 2022-08-01 2023-07-31 11481990 2021-08-01 2022-07-31 11481990 2023-07-31 11481990 2022-07-31 11481990 c:Director1 2022-08-01 2023-07-31 11481990 d:FurnitureFittings 2022-08-01 2023-07-31 11481990 d:FurnitureFittings 2023-07-31 11481990 d:FurnitureFittings 2022-07-31 11481990 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 11481990 d:CurrentFinancialInstruments 2023-07-31 11481990 d:CurrentFinancialInstruments 2022-07-31 11481990 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 11481990 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 11481990 d:ShareCapital 2023-07-31 11481990 d:ShareCapital 2022-07-31 11481990 d:RetainedEarningsAccumulatedLosses 2023-07-31 11481990 d:RetainedEarningsAccumulatedLosses 2022-07-31 11481990 c:FRS102 2022-08-01 2023-07-31 11481990 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 11481990 c:FullAccounts 2022-08-01 2023-07-31 11481990 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure
Registered number: 11481990






RISK MANAGEMENT SYSTEMS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










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RISK MANAGEMENT SYSTEMS LIMITED
REGISTERED NUMBER:11481990

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,019
2,375

  
2,019
2,375

Current assets
  

Debtors: amounts falling due within one year
 5 
9,824
-

Cash at bank and in hand
 6 
11,929
25,375

  
21,753
25,375

Creditors: amounts falling due within one year
 7 
(23,555)
(27,493)

Net current liabilities
  
 
 
(1,802)
 
 
(2,118)

Total assets less current liabilities
  
217
257

  

Net assets
  
217
257


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
117
157

  
217
257


Page 1

 
RISK MANAGEMENT SYSTEMS LIMITED
REGISTERED NUMBER:11481990
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 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 by: 


R G Phillips
Director

Date: 4 March 2024

Page 2

 
RISK MANAGEMENT SYSTEMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

Risk Management Systems Limited is a private company limited by shares, incorporated in England and Wales.  Its registered office is Millhouse, 32-38 East Street, Rochford, Essex, SS4 1DB.
The principal activity of the company is software development.

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

 
RISK MANAGEMENT SYSTEMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 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

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.

 
2.5

Taxation

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 balance sheet date in the countries where the Company operates and generates income.

 
2.6

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.

Page 4

 
RISK MANAGEMENT SYSTEMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
15%
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.

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

Financial instruments

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Page 5

 
RISK MANAGEMENT SYSTEMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.11

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 1 (2022 - 1).


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 August 2022
3,364



At 31 July 2023

3,364



Depreciation


At 1 August 2022
989


Charge for the year on owned assets
356



At 31 July 2023

1,345



Net book value



At 31 July 2023
2,019



At 31 July 2022
2,375


5.


Debtors

2023
2022
£
£


Other debtors
9,824
-

9,824
-


Page 6

 
RISK MANAGEMENT SYSTEMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
11,929
25,375

11,929
25,375



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other taxation and social security
21,132
24,666

Other creditors
-
656

Accruals and deferred income
2,423
2,171

23,555
27,493


 
Page 7