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Company registration number: 10989205
Risk Dashboard (UK) Limited
Unaudited filleted financial statements
28 February 2024
Risk Dashboard (UK) Limited
Contents
Statement of financial position
Notes to the financial statements
Risk Dashboard (UK) Limited
Statement of financial position
28 February 2024
Note £ £ £ £
Current assets
Debtors 5 17,214 13,928
Cash at bank and in hand 21 738
_______ _______
17,235 14,666
Creditors: amounts falling due
within one year 6 ( 182,416) ( 157,990)
_______ _______
Net current liabilities ( 165,181) ( 143,324)
_______ _______
Total assets less current liabilities ( 165,181) ( 143,324)
Creditors: amounts falling due
after more than one year 7 ( 13,745) ( 23,624)
_______ _______
Net liabilities ( 178,926) ( 166,948)
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account ( 179,026) ( 167,048)
_______ _______
Shareholders deficit ( 178,926) ( 166,948)
_______ _______
For the year ending 28 February 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 financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 29 November 2024 , and are signed on behalf of the board by:
Mr Neil Shotton
Director
Company registration number: 10989205
Risk Dashboard (UK) Limited
Notes to the financial statements
Year ended 28 February 2024
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is 7 Rutherford Court, Staffordshire Technology Park, Stafford, Staffordshire, ST18 0GP.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2023: Nil).
5. Debtors
£ £
Trade debtors 7,202 3,928
Amounts owed by related party 10,000 10,000
Other debtors 12 -
_______ _______
17,214 13,928
_______ _______
6. Creditors: amounts falling due within one year
£ £
Trade creditors 324 900
Bank loans and overdrafts 9,535 9,588
Amounts owed to related party 171,807 146,206
Social security and other taxes - 546
Other creditors 750 750
_______ _______
182,416 157,990
_______ _______
7. Creditors: amounts falling due after more than one year
£ £
Bank loans and overdrafts 13,745 23,624
_______ _______
8. Related party transactions
Mr Neil Shotton is considered to be a related party by virtue of his shareholding and directorship in the company. There were no trading between the company and Mr Neil Shotton during the year (2023: £Nil).Business Safety Systems Limited is considered to be a related party by virtue of being under common control. During the period the Business Safety Systems Limited transferred £25,602 in to the bank account. At the balance sheet date Risk Dashboard (UK) Limited owed Business Safety Systems Limited the sum of £171,807 (2023: £146,206).T100 Risk Systems Limited is considered to be a related party by virtue of being under common control. At the balance sheet date T100 Risk Systems Limited owed Risk Dashboard (UK) Limited the sum of £10,000 (2023: £10,000).
9. Going concern
As reflected within these financial statements, the company has reported a loss of £11,978 (2023: £12,574) and has deficiency of assets of £178,926 (2023: £166,948). The company meets its day to day working capital requirements through ongoing financial support from a related company. The financial statements have been prepared on a going concern basis, the validity of which depends upon the company's ability to continue to receive the financial support of the related company. The financial statements do not include any adjustments that would result from a failure to obtain such support.