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Registered number: 04036954









RISK CONTROL LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2023

 
RISK CONTROL LIMITED
REGISTERED NUMBER: 04036954

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
7,279
7,189

  
7,279
7,189

Current assets
  

Debtors: amounts falling due within one year
 5 
917,382
789,209

Cash at bank and in hand
 6 
1,328,216
1,322,455

  
2,245,598
2,111,664

Creditors: amounts falling due within one year
 7 
(444,305)
(166,562)

Net current assets
  
 
 
1,801,293
 
 
1,945,102

Total assets less current liabilities
  
1,808,572
1,952,291

  

Net assets
  
1,808,572
1,952,291


Capital and reserves
  

Called up share capital 
  
200
200

Profit and loss account
  
1,808,372
1,952,091

  
1,808,572
1,952,291


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.

Page 1

 
RISK CONTROL LIMITED
REGISTERED NUMBER: 04036954
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

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: 




W R M Perraudin
Director

Date: 30 July 2024

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

Page 2

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

1.


General information

Risk Control Limited is a members limited liability company, incorporated in England and Wales. The registered office is per the Company Information page.
The Company's principal activity continues to be that of bespoke computer programmes.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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'.

 
2.3

Revenue

Turnover comprises revenue recognised by the company in respect of the writing of bespoke computer programs and granting of software licenses.
Turnover relating to bespoke computer programs is recognised in line with the percentage of completion of the individual project. Turnover relating to license fees is wholly recognised at the start of the license term.
All turnover during the year is recognised exclusive of Value Added Tax and trade discounts.

Page 3

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

2.Accounting policies (continued)

 
2.4

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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

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 balance sheet 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 balance sheet 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 balance sheet date.

 
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 CONTROL 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, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
10%
Computer equipment
-
25%

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

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.

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.10

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 17 (2022 - 19).

Page 5

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

4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 August 2022
17,762
59,098
76,860


Additions
2,177
308
2,485



At 31 July 2023

19,939
59,406
79,345



Depreciation


At 1 August 2022
11,873
57,798
69,671


Charge for the year on owned assets
911
1,484
2,395



At 31 July 2023

12,784
59,282
72,066



Net book value



At 31 July 2023
7,155
124
7,279



At 31 July 2022
5,889
1,300
7,189

Page 6

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

5.


Debtors

2023
2022
£
£


Trade debtors
241,320
205,540

Other debtors
13,952
13,407

Prepayments and accrued income
181,012
89,164

Deferred taxation
481,098
481,098

917,382
789,209



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,328,216
1,322,455

1,328,216
1,322,455



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
667
10,082

Other taxation and social security
54,007
72,385

Other creditors
23,350
21,323

Accruals and deferred income
366,281
62,772

444,305
166,562



8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held seperately 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 £18,164 (2022: £15,524). Contributions totalling £439 (2022: £nill) were payable to the fund at the balance sheet date and are included in creditors.

Page 7

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

9.


Commitments under operating leases

At 31 July 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
35,000
17,500

Later than 1 year and not later than 5 years
17,500
52,500

52,500
70,000


10.


Related party transactions

As at the year end, other creditors included an amount owed to the director of £20,916 (2022: £20,916).


11.


Controlling party

The company is under the control of W R M Perraudin.


12.


Auditor's information

The auditor's report on the financial statements for the year ended 31 July 2023 was unqualified.

The audit report was signed on 30 July 2024 by Jonathan Franks FCA (Senior Statutory Auditor) on behalf of Hillier Hopkins LLP.

 
Page 8