IFS Risk Solutions (UK) Limited 05037131 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is independant financial advisors. Digita Accounts Production Advanced 6.30.9574.0 true 05037131 2023-05-01 2024-04-30 05037131 2024-04-30 05037131 core:CapitalRedemptionReserve 2024-04-30 05037131 core:RetainedEarningsAccumulatedLosses 2024-04-30 05037131 core:ShareCapital 2024-04-30 05037131 core:CurrentFinancialInstruments 2024-04-30 05037131 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 05037131 bus:SmallEntities 2023-05-01 2024-04-30 05037131 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 05037131 bus:FullAccounts 2023-05-01 2024-04-30 05037131 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 05037131 bus:RegisteredOffice 2023-05-01 2024-04-30 05037131 bus:Director3 2023-05-01 2024-04-30 05037131 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 05037131 core:OfficeEquipment 2023-05-01 2024-04-30 05037131 countries:EnglandWales 2023-05-01 2024-04-30 05037131 2022-05-01 2023-04-30 05037131 2023-04-30 05037131 core:CapitalRedemptionReserve 2023-04-30 05037131 core:RetainedEarningsAccumulatedLosses 2023-04-30 05037131 core:ShareCapital 2023-04-30 05037131 core:CurrentFinancialInstruments 2023-04-30 05037131 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 05037131 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2023-04-30 05037131 core:PreviouslyStatedAmount 2023-04-30 iso4217:GBP xbrli:pure

Registration number: 05037131

IFS Risk Solutions (UK) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

IFS Risk Solutions (UK) Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

IFS Risk Solutions (UK) Limited

(Registration number: 05037131)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

-

33,455

Cash at bank and in hand

 

13,018

18,450

 

13,018

51,905

Creditors: Amounts falling due within one year

5

(2,644)

(3,308)

Net assets

 

10,374

48,597

Capital and reserves

 

Called up share capital

100

100

Capital redemption reserve

200

200

Retained earnings

10,074

48,297

Shareholders' funds

 

10,374

48,597

For the financial year ending 30 April 2024 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 delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 12 June 2024
 

.........................................
Mr M T Aveling
Director

   
     
 

IFS Risk Solutions (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
Apex House
Water Vole Way
Doncaster
South Yorkshire
DN4 5JP

These financial statements were authorised for issue by the director on 12 June 2024.

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

Tax

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 taxable income.

Depreciation

 

IFS Risk Solutions (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Asset class

Depreciation method and rate

Office Equipment

33% Reducing balance basis

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 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 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.

 

IFS Risk Solutions (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Debtors

2024
£

2023
£

Other debtors

-

33,274

Prepayments

-

181

-

33,455

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Amounts owed to related parties

202

859

Taxation and social security

 

-

145

Accrued expenses

 

2,442

2,304

 

2,644

3,308