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Registered number: 11308220














SCHILLINGS CRITICAL RISK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

 
SCHILLINGS CRITICAL RISK LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1
Notes to the Financial Statements
 
2 - 4


 
SCHILLINGS CRITICAL RISK LIMITED
REGISTERED NUMBER:11308220

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
112
14,280

Cash at bank and in hand
  
-
10,837

  
112
25,117

Current liabilities
  

Creditors: amounts falling due within one year
 5 
(111)
(25,116)

  

Net assets
  
1
1


Capital and reserves
  

Called up share capital 
 6 
1
1

  
1
1


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.

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 12 November 2024.




B Reynolds
Director

The notes on pages 2 to 4 form part of these financial statements.
Page 1

 
SCHILLINGS CRITICAL RISK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Schillings Critical Risk Limited is a private limited liability company registered in England and Wales, with its principal place of business and registered office address at 12 Arthur Street, London, EC4R 9AB. 
The principal activity of the Company is to provide professional services.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover represents the value of professional services provided to clients during the period. The value reflects the amount of time, skill and expertise expected to be recoverable from clients, excluding VAT.
Turnover is recognised in the period in which the work is carried out.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is £ sterling.

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.

 
2.4

Taxation

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.

Page 2

 
SCHILLINGS CRITICAL RISK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

Debtors

Short term debtors are measured at the transaction price, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions. 

 
2.7

Creditors

Short term creditors are measured at the transaction price.


3.


Employees

The Company had no employees other than the directors during the current and preceding period.



4.


Debtors

2024
2023
£
£


Trade debtors
-
14,280

Amounts owed by group undertakings
112
-

112
14,280



5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
-
23,436

Taxation and social security
-
1,570

Other creditors
111
110

111
25,116



6.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1
1
1


Page 3

 
SCHILLINGS CRITICAL RISK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Related party transactions

The Company has taken advantage of the exemption under FRS102 not to disclose transactions entered into between two or more members of a group, provided that any subsidiary undertaking which is party to the transaction is wholly owned by a member of that group.


8.


Controlling party

The directors regard Schillings International LLP, a limited liability partnership registered in England and Wales, as the ultimate parent undertaking. 


9.


Auditors' information

The auditors' report on the financial statements for the year ended 30 April 2024 was unqualified.

The audit report was signed on 12 November 2024 by Stephen Iseman FCA (Senior Statutory Auditor) on behalf of Sopher + Co LLP.

 
Page 4