Company Registration No. 06558003 (England and Wales)
Risk Finance Limited
Unaudited accounts
for the year ended 30 June 2023
Risk Finance Limited
Unaudited accounts
Contents
Risk Finance Limited
Company Information
for the year ended 30 June 2023
Company Number
06558003 (England and Wales)
Accountants
CAB Digital Accountants
International House
36-38 Cornhill
London
EC3V 3NG
Risk Finance Limited
Statement of financial position
as at 30 June 2023
Tangible assets
72,336
51,957
Investments
117,733
197,949
Cash at bank and in hand
134,172
61,218
Creditors: amounts falling due within one year
(552,675)
(210,099)
Net current liabilities
(35,613)
(15,811)
Total assets less current liabilities
154,456
234,095
Creditors: amounts falling due after more than one year
(19,611)
(29,924)
Net assets
134,845
204,171
Called up share capital
1
1
Profit and loss account
134,844
204,170
Shareholders' funds
134,845
204,171
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 November 2024 and were signed on its behalf by
Lee Savage
Director
Company Registration No. 06558003
Risk Finance Limited
Notes to the Accounts
for the year ended 30 June 2023
Risk Finance Limited is a private company, limited by shares, registered in England and Wales, registration number 06558003.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents amounts receivable for services provided during the period.
Revenue from the provision of professional services is recognised as services are provided.
Tangible fixed assets and depreciation
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net
of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values
over their useful lives on the following bases:
Motor vehicles
Three years straight line
Fixtures & fittings
Three years straight line
Computer equipment
Three years straight line
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Risk Finance Limited
Notes to the Accounts
for the year ended 30 June 2023
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 July 2022
-
18,835
65,473
22,906
107,214
Additions
45,110
2,165
-
-
47,275
At 30 June 2023
45,110
21,000
65,473
22,906
154,489
At 1 July 2022
-
13,303
21,824
20,130
55,257
Charge for the year
-
3,554
21,824
1,518
26,896
At 30 June 2023
-
16,857
43,648
21,648
82,153
At 30 June 2023
45,110
4,143
21,825
1,258
72,336
At 30 June 2022
-
5,532
43,649
2,776
51,957
5
Investments
Other investments
Valuation at 1 July 2022
197,949
Fair value adjustments
(99,449)
Valuation at 30 June 2023
117,733
Amounts falling due within one year
Trade debtors
376,046
132,396
Accrued income and prepayments
3,238
-
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,014
9,766
Trade creditors
2,080
8,739
Taxes and social security
75,345
48,672
Other creditors
463,988
140,735
Risk Finance Limited
Notes to the Accounts
for the year ended 30 June 2023
8
Creditors: amounts falling due after more than one year
2023
2022
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
10
Average number of employees
During the year the average number of employees was 1 (2022: 1).