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REGISTERED NUMBER: 06892677















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

L C RISK MANAGEMENT LTD

L C RISK MANAGEMENT LTD (REGISTERED NUMBER: 06892677)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Balance Sheet 1

Notes to the Financial Statements 2


L C RISK MANAGEMENT LTD (REGISTERED NUMBER: 06892677)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 649 375

CURRENT ASSETS
Debtors 5 103,160 118,563
Cash at bank 5,908 17,946
109,068 136,509
CREDITORS
Amounts falling due within one year 6 111,909 138,460
NET CURRENT LIABILITIES (2,841 ) (1,951 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,192

)

(1,576

)

CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings (2,293 ) (1,677 )
SHAREHOLDERS' FUNDS (2,192 ) (1,576 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 January 2025 and were signed on its behalf by:





D J Booth - Director


L C RISK MANAGEMENT LTD (REGISTERED NUMBER: 06892677)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

L C Risk Management Ltd is a private company limited by shares, incorporated in England and Wales. The company's registered number is 06892677 and its registered office is Riverside House, Irwell Street, Manchester, M3 5EN.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements represent the results of the individual entity and the functional and presentation currency is £ sterling.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Trade debtors recoverability
Amounts recoverable on trade debtors are initially measured at the transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses. The directors make estimates as to the recoverability of these debts and provide for them accordingly.

Revenue
Turnover represents amounts chargeable to clients for professional services provided during the period, inclusive of direct expenses incurred on client assignments but excluding value added tax. Turnover is recognised when a right to consideration has been obtained through performance on each assignment. Consideration accrues as activity progresses by reference to the value of the work performed. Turnover is not recognised where the right to receive payment is contingent on events outside the control of the company.

L C RISK MANAGEMENT LTD (REGISTERED NUMBER: 06892677)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the Company reviews the carrying amounts of its equipment to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include trade debtors, other debtors, and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including trade creditors, other creditors, directors loan account and amounts owed to group undertakings, that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


L C RISK MANAGEMENT LTD (REGISTERED NUMBER: 06892677)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and will be able to pay creditors as they fall due. Further, there is no expectation that the amount owed to the group undertaking will be called upon in the going concern period. Thus the directors continues to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 May 2023 906 1,353 2,259
Additions - 685 685
At 30 April 2024 906 2,038 2,944
DEPRECIATION
At 1 May 2023 659 1,225 1,884
Charge for year 180 231 411
At 30 April 2024 839 1,456 2,295
NET BOOK VALUE
At 30 April 2024 67 582 649
At 30 April 2023 247 128 375

L C RISK MANAGEMENT LTD (REGISTERED NUMBER: 06892677)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 71,560 80,703
Other debtors 1,337 1,337
Prepayments and accrued income 30,263 36,523
103,160 118,563

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,775 1,331
Amounts owed to group undertakings 91,110 91,600
Tax 259 259
Social security and other taxes 12,286 13,119
Other creditors 462 14,946
Accrued expenses 6,017 17,205
111,909 138,460

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Frederick Norman (Senior Statutory Auditor)
for and on behalf of Harold Sharp Limited

8. OTHER FINANCIAL COMMITMENTS

The company operates a defined contribution pension scheme. During the year the company contributed £8,972 (2023: £2,450). Creditors include £861 (2023: £14,519) in respect of outstanding employer pension contributions at the year end.

9. RELATED PARTY DISCLOSURES

During the year the company entered into transactions with Leonard Curtis Recovery Limited, a company in which one or more directors had a material interest. During the year transactions with Leonard Curtis Recovery Limited included fees rendered of £30,000 (2023: £34,990) and management charges incurred of £12,000 (2023: £12,000). Included within creditors due within one year is £91,110 (2023: £91,600) due to Leonard Curtis Recovery Limited.

10. ULTIMATE CONTROLLING PARTY

The company's immediate parent company is Leonard Curtis Recovery Limited, whose registered office is Riverside House, Irwell Street, Manchester , M3 5EN.

The company's ultimate parent company is Project Hallelujah Bidco Limited whose registered office is Riverside House, Irwell Street, Manchester , M3 5EN.

The directors are of the opinion that there is no ultimate beneficial owner of Project Hallelujah Bidco Limited.