Registered number
03752505
RISK MANAGEMENT LIMITED
Unaudited Filleted Accounts
31 March 2024
RISK MANAGEMENT LIMITED
Registered number: 03752505
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 20,979 25,415
Current assets
Debtors 4 147,916 100,938
Cash at bank and in hand 165,462 210,983
313,378 311,921
Creditors: amounts falling due within one year 5 (56,371) (64,581)
Net current assets 257,007 247,340
Total assets less current liabilities 277,986 272,755
Provisions for liabilities (3,986) (4,828)
Net assets 274,000 267,927
Capital and reserves
Called up share capital 100 100
Profit and loss account 273,900 267,827
Shareholders' funds 274,000 267,927
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the board on 08 October 2024
M S Price R S Price
Director Director
RISK MANAGEMENT LIMITED
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and value added taxes. Turnover is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance method
Motor vehicles 25% reducing balance method
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 33,312 25,423 58,735
Additions 2,635 - 2,635
Disposals (441) - (441)
At 31 March 2024 35,506 25,423 60,929
Depreciation
At 1 April 2023 18,478 14,842 33,320
Charge for the year 4,348 2,645 6,993
On disposals (363) - (363)
At 31 March 2024 22,463 17,487 39,950
Net book value
At 31 March 2024 13,043 7,936 20,979
At 31 March 2023 14,834 10,581 25,415
4 Debtors 2024 2023
£ £
Trade debtors 117,272 83,466
Other debtors 30,644 17,472
147,916 100,938
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 18,484 33,546
Taxation and social security costs 34,301 26,937
Other creditors 3,586 4,098
56,371 64,581
6 Events after the reporting date
There were no significant events since the balance sheet date that in the opinion of the directors would effect these accounts.
7 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 102,789 9,396
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
R S Price - 9,950 (500) 9,450
- 9,950 (500) 9,450
9 Related party transactions
The company paid dividends of £2,200 (2023 - £2,200) to M S Price and £1,800 (2023 - £1,800) to Mrs T Price, both of whom are directors of the company.
10 Other information
RISK MANAGEMENT LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Unit 10 Coopers Place
Godalming
Surrey
GU8 5SZ
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