Caseware UK (AP4) 2023.0.135 2023.0.135 222023-01-01false62020 - Information technology consultancy activitiestruetrue 13210004 2023-01-01 2023-12-31 13210004 2023-12-31 13210004 2022-12-31 13210004 2023-01-01 2023-12-31 13210004 2022-01-01 2022-12-31 13210004 2023-12-31 13210004 2022-12-31 13210004 2022-01-01 13210004 c:Director3 2023-01-01 2023-12-31 13210004 d:CurrentFinancialInstruments 2023-12-31 13210004 d:CurrentFinancialInstruments 2022-12-31 13210004 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 13210004 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 13210004 d:ShareCapital 2023-01-01 2023-12-31 13210004 d:ShareCapital 2023-12-31 13210004 d:ShareCapital 2022-01-01 2022-12-31 13210004 d:ShareCapital 2022-12-31 13210004 d:ShareCapital 2022-01-01 13210004 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 13210004 d:RetainedEarningsAccumulatedLosses 2023-12-31 13210004 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 13210004 d:RetainedEarningsAccumulatedLosses 2022-12-31 13210004 d:RetainedEarningsAccumulatedLosses 2022-01-01 13210004 d:RetirementBenefitObligationsDeferredTax 2023-12-31 13210004 d:RetirementBenefitObligationsDeferredTax 2022-12-31 13210004 c:FRS102 2023-01-01 2023-12-31 13210004 c:Audited 2023-01-01 2023-12-31 13210004 c:FullAccounts 2023-01-01 2023-12-31 13210004 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13210004 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 13210004 2 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 13210004









Applied Risk UK Ltd









Financial statements

Information for filing with the registrar

For the Period Ended 31 December 2023

 
Applied Risk UK Ltd
Registered number: 13210004

Statement of financial position
As at 31 December 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
69,855
73,043

  
69,855
73,043

Creditors: amounts falling due within one year
 5 
(23,711)
(39,444)

Net current assets
  
 
 
46,144
 
 
33,599

Total assets less current liabilities
  
46,144
33,599

  

Net assets
  
46,144
33,599


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
46,044
33,499

  
46,144
33,599


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

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 comprehensive income 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 10 April 2024.




Robert Thomas Stebbings
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 1

 
Applied Risk UK Ltd
 

Statement of changes in equity
For the Period Ended 31 December 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2022
100
18,273
18,373


Comprehensive income for the year

Profit for the year

-
15,226
15,226


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
15,226
15,226


Total transactions with owners
-
-
-



At 1 January 2023
100
33,499
33,599


Comprehensive income for the period

Profit for the period

-
12,545
12,545


Other comprehensive income for the period
-
-
-


Total comprehensive income for the period
-
12,545
12,545


Total transactions with owners
-
-
-


At 31 December 2023
100
46,044
46,144


The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
Applied Risk UK Ltd
 
 
 
Notes to the financial statements
For the Period Ended 31 December 2023

1.


General information

Applied Risk UK Ltd is a private company limited by shares incorporated in England and Wales. The address of the registered office is given in the company information on Page 1 of these financial statements.
Principal activity of Applied Risk UK Ltd is Information technology consultancy activities.
The presentation currency of the financial statements is the Pound Sterling, rounded to the nearest pound.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

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.

 
2.3

Interest income

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

 
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.

Page 3

 
Applied Risk UK Ltd
 
 
 
Notes to the financial statements
For the Period Ended 31 December 2023

2.Accounting policies (continued)

 
2.5

Borrowing costs

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

 
2.6

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.

 
2.7

Current and deferred taxation

The tax expense for the period 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.

 
2.8

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.

 
2.9

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.

Page 4

 
Applied Risk UK Ltd
 
 
 
Notes to the financial statements
For the Period Ended 31 December 2023

2.Accounting policies (continued)

 
2.10

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.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

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.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument 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.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 5

 
Applied Risk UK Ltd
 
 
 
Notes to the financial statements
For the Period Ended 31 December 2023

3.


Employees

The average monthly number of employees, including the directors, during the period was as follows:


        2023
        2022
            No.
            No.







Average number of Employees
2
2

Page 6

 
Applied Risk UK Ltd
 
 
 
Notes to the financial statements
For the Period Ended 31 December 2023

4.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
69,347
42,657

Other debtors
251
216

Prepayments and accrued income
-
30,110

Deferred taxation
257
60

69,855
73,043



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
1,362
28,122

Trade creditors
513
247

Amounts owed to group undertakings
4,034
3,437

Other taxation and social security
4,629
1,881

Other creditors
1,027
257

Accruals and deferred income
12,146
5,500

23,711
39,444



6.


Deferred taxation




2023
2022


£

£






At beginning of year
60
-


Charged to the profit or loss
197
60



At end of year
257
60

2023
2022
£
£


Pension surplus
257
60

257
60

Page 7

 
Applied Risk UK Ltd
 
 
 
Notes to the financial statements
For the Period Ended 31 December 2023

7.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £10,967 (2022: £2,090). Contributions totaling £1,027 (2022: £257) were payable to the fund at the balance sheet date and are included in  other creditors.


8.


Related party transactions

The Company has taken advantage of the exemption available under FRS 102 sec 33  for "Related Party Disclosures" not to disclose transactions with parent and wholly owned subsidiaries in the group which are eliminated on consolidation. The parent company, Applied Risk Holding B.V., prepares group accounts and a copy of group accounts are available from its registered office at Teleportboulevard 110, 1043 EJ Amsterdam, Netherlands.
 


9.


Controlling party

The immediate parent Company is Applied Risk Holding B.V, a company registered in Netherlands, who owns 100% ordinary shares in the Company. The ultimate controlling party is Stiftelsen Det Norske Veritas, incorporated in Norway (registered office address : 1 Veritasveien, Hovik, 1363 Norway) and copy of consolidated accounts can be obtained from its registered office.



10.


Auditors' information

The auditors' report on the financial statements for the period ended 31 December 2023 was unqualified.

The audit report was signed on 10 April 2024 by Janak Raj Pokhrel (Senior statutory auditor) on behalf of Mantax Lynton.

 
Page 8