Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-31false2024-01-01falseNo description of principal activity7063falsefalse 04086309 2024-01-01 2024-12-31 04086309 2023-01-01 2023-12-31 04086309 2024-12-31 04086309 2023-12-31 04086309 1 2024-01-01 2024-12-31 04086309 d:CompanySecretary1 2024-01-01 2024-12-31 04086309 d:Director1 2024-01-01 2024-12-31 04086309 d:Director2 2024-01-01 2024-12-31 04086309 d:Director3 2024-01-01 2024-12-31 04086309 d:Director3 2024-12-31 04086309 d:RegisteredOffice 2024-01-01 2024-12-31 04086309 c:ComputerEquipment 2024-01-01 2024-12-31 04086309 c:ComputerEquipment 2024-12-31 04086309 c:ComputerEquipment 2023-12-31 04086309 c:ComputerEquipment c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 04086309 c:CurrentFinancialInstruments 2024-12-31 04086309 c:CurrentFinancialInstruments 2023-12-31 04086309 c:CurrentFinancialInstruments c:WithinOneYear 2024-12-31 04086309 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 04086309 c:ReportableOperatingSegment1 2024-01-01 2024-12-31 04086309 c:ReportableOperatingSegment1 2023-01-01 2023-12-31 04086309 e:UnitedKingdom 2024-01-01 2024-12-31 04086309 e:UnitedKingdom 2023-01-01 2023-12-31 04086309 e:RestEuropeOutsideUK 2024-01-01 2024-12-31 04086309 e:RestEuropeOutsideUK 2023-01-01 2023-12-31 04086309 e:RestWorldOutsideUK 2024-01-01 2024-12-31 04086309 e:RestWorldOutsideUK 2023-01-01 2023-12-31 04086309 c:UKTax 2024-01-01 2024-12-31 04086309 c:UKTax 2023-01-01 2023-12-31 04086309 c:ShareCapital 2024-12-31 04086309 c:ShareCapital 2023-12-31 04086309 c:CapitalRedemptionReserve 2024-12-31 04086309 c:CapitalRedemptionReserve 2023-12-31 04086309 c:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 04086309 c:RetainedEarningsAccumulatedLosses 2024-12-31 04086309 c:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 04086309 c:RetainedEarningsAccumulatedLosses 2023-12-31 04086309 c:RetainedEarningsAccumulatedLosses 2023-01-01 04086309 c:AcceleratedTaxDepreciationDeferredTax 2024-12-31 04086309 c:AcceleratedTaxDepreciationDeferredTax 2023-12-31 04086309 c:TaxLossesCarry-forwardsDeferredTax 2024-12-31 04086309 c:TaxLossesCarry-forwardsDeferredTax 2023-12-31 04086309 d:OrdinaryShareClass1 2024-01-01 2024-12-31 04086309 d:OrdinaryShareClass1 2024-12-31 04086309 d:OrdinaryShareClass1 2023-12-31 04086309 d:FRS102 2024-01-01 2024-12-31 04086309 d:Audited 2024-01-01 2024-12-31 04086309 d:FullAccounts 2024-01-01 2024-12-31 04086309 d:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04086309 c:WithinOneYear 2024-12-31 04086309 c:WithinOneYear 2023-12-31 04086309 c:BetweenOneFiveYears 2024-12-31 04086309 c:BetweenOneFiveYears 2023-12-31 04086309 f:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure
Company registration number: 04086309







DIRECTORS' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024


CORPORATE RISK ASSOCIATES LIMITED






































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CORPORATE RISK ASSOCIATES LIMITED
 


 
COMPANY INFORMATION


Directors
D.M.P Chabert d'Hieres De Seguin De Reynies 
C. O. Jeanneau 




Company secretary
D.M.P Chabert d'Hieres De Seguin De Reynies



Registered number
04086309



Registered office
Innovation Centre 1 Evolution Park
Haslingden Road

Blackburn

Lancashire

BB1 2FD




Independent auditors
Menzies LLP
Chartered Accountants

Ashcombe House

5 The Crescent

Leatherhead

Surrey

KT22 8DY





 


CORPORATE RISK ASSOCIATES LIMITED
 



CONTENTS



Page
Directors' report
1 - 2
Independent auditors' report
3 - 6
Statement of income and retained earnings
7
Statement of financial position
8
Notes to the financial statements
9 - 18


 


CORPORATE RISK ASSOCIATES LIMITED
 


 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

The Directors present their report and the financial statements for the year ended 31 December 2024.

Directors' responsibilities statement

The Directors are responsible for preparing the Directors' report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the Directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Directors

The Directors who served during the year were:

D.M.P Chabert d'Hieres De Seguin De Reynies 
C. O. Jeanneau 
J. S. Sidhu (resigned 30 September 2024)

Going concern 
On the 31 December 2024 the company ceased trading. The Company underwent a business transfer whereby the trade and assets were hived up into Assystem Energy & Infrastructure Limited on 1 January 2025. As a result, the going concern basis is no longer appropriate and these financial statements have been prepared on a basis other than the going concern basis, which is not materially different to the going concern basis. 

Disclosure of information to auditors

Each of the persons who are Directors at the time when this Directors' report is approved has confirmed that:
 
so far as the Director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the Director has taken all the steps that ought to have been taken as a Director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors

The auditorsMenzies LLPwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Page 1

 


CORPORATE RISK ASSOCIATES LIMITED
 


 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024

Small companies note

In preparing this report, the Directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





D.M.P Chabert d'Hieres De Seguin De Reynies
Director

Date: 28 February 2025

Innovation Centre 1 Evolution Park
Haslingden Road
Blackburn
Lancashire
BB1 2FD

Page 2

 


CORPORATE RISK ASSOCIATES LIMITED
 

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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CORPORATE RISK ASSOCIATES LIMITED

Opinion


We have audited the financial statements of Corporate Risk Associates Limited (the 'Company') for the year ended 31 December 2024, which comprise the Statement of income and retained earnings, the Statement of financial position and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 31 December 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Emphasis of matter


We draw attention to note 2.3 to the financial statements which explains that the directors intend to hive up the trade and assets of the Company on 1 January 2025 into Assystem Energy & Infrastructure Limtied and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern as described in note 2.3. Our opinion is not modified in respect of this matter.   
        
Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The Directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Page 3

 


CORPORATE RISK ASSOCIATES LIMITED


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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CORPORATE RISK ASSOCIATES LIMITED (CONTINUED)

Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Directors' report has been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of Directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the Directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' report and from the requirement to prepare a Strategic report.


Responsibilities of directors
 

As explained more fully in the Directors' responsibilities statement set out on page 1, the Directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Page 4

 


CORPORATE RISK ASSOCIATES LIMITED


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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CORPORATE RISK ASSOCIATES LIMITED (CONTINUED)

Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The Company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation. We determined that the following laws and regulations were most significant including:
 
°The Companies Act 2006;
°Financial Reporting Standard 102;
°UK employment legislation;
°UK health and safety legislation; and
°General Data Protection Regulations.

We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.
We understood how the the Company is complying with those legal and regulatory frameworks by, making inquiries to  management, those responsible for legal and compliance procedures. We corroborated our inquiries through our  review of relevant documentation.
The engagement partner assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognize non-compliance with laws and regulations. The assessment did not identify any  issues in this area.
We assessed the susceptibility of the Company financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:
 
°Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;
°Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;
°Challenging assumptions and judgments made by management in its significant accounting estimates; and
°Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.
 

As a result of the above procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas:
 
°The application of inappropriate judgements or estimation to manipulate the Company's financial position;
°Posting of unusual journals and complex transactions;
°The use of management override of controls to manipulate results, or to cause the Company to enter into transactions not in its best interests.


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or
Page 5

 


CORPORATE RISK ASSOCIATES LIMITED


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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CORPORATE RISK ASSOCIATES LIMITED (CONTINUED)

misrepresentation.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.


Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Andrew Hookway FCA (Senior statutory auditor)
for and on behalf of
Menzies LLP
Chartered Accountants
Ashcombe House
5 The Crescent
Leatherhead
Surrey
KT22 8DY

28 February 2025
Page 6

 


CORPORATE RISK ASSOCIATES LIMITED
 


 
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2024

2024
2023
£
£

  

Turnover
 4 
6,481,820
6,182,980

Cost of sales
  
(3,560,954)
(3,550,266)

Gross profit
  
2,920,866
2,632,714

Administrative expenses
  
(2,776,114)
(2,368,455)

Other operating income
  
-
3,414

Operating profit
 5 
144,752
267,673

Tax on profit
 9 
(55,554)
(113,901)

Profit after tax
  
89,198
153,772

  

  

Retained earnings at the beginning of the year
  
750,804
597,032

  
750,804
597,032

Profit for the year
  
89,198
153,772

Retained earnings at the end of the year
  
840,002
750,804

There were no recognised gains and losses for 2024 or 2023 other than those included in the statement of income and retained earnings.

The notes on pages 9 to 18 form part of these financial statements.

Page 7

 


CORPORATE RISK ASSOCIATES LIMITED
REGISTERED NUMBER:04086309



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 10 
26,186
21,577

  
26,186
21,577

Current assets
  

Debtors: amounts falling due within one year
 11 
724,620
1,171,538

Cash at bank and in hand
  
558,280
754,958

  
1,282,900
1,926,496

Creditors: amounts falling due within one year
 12 
(463,006)
(1,197,169)

Net current assets
  
 
 
819,894
 
 
729,327

Total assets less current liabilities
  
846,080
750,904

Provisions for liabilities
  

Deferred tax
 13 
(5,978)
-

  
 
 
(5,978)
 
 
-

Net assets
  
840,102
750,904


Capital and reserves
  

Called up share capital 
 14 
50
50

Capital redemption reserve
 15 
50
50

Profit and loss account
 15 
840,002
750,804

  
840,102
750,904




The  were approved and authorised for issue by the board and were signed on its behalf by: 




D.M.P Chabert d'Hieres De Seguin De Reynies
Director

Date: 28 February 2025

The notes on pages 9 to 18 form part of these financial statements.

Page 8

 


CORPORATE RISK ASSOCIATES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Corporate Risk Associates Limited is a private company, limited by shares, incorporated in England and Wales. The
registered office is disclosed on the company information page and its principal place of business is 17 Slingsby Place, London, WC2E 9AB. 
The Company's principal activity is that of risk and safety consultancy.
The significant accounting policies applied in the preparation of these financial statements are set out below.    These policies have been consistently applied to all years presented unless otherwise stated.

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

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

  
2.2

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Assystem S.A which can be obtained from 70 Boulevard de Courcelles, 75017, Paris, France. As such, advantage has been taken of the following disclosure exemptions
available under paragraph 1.12 of FRS 102:
(a) No cash flow statement has been presented for the Company.
(b) Disclosures in respect of financial instruments have not been presented.
(c) No disclosure has been given for the aggregate remuneration of key management personnel.

 
2.3

Going concern

On 1 January 2025 the Company hived up its trade and assets to its parent company Assystem Energy & Infrastructure Limited and ceased trading on 31 December 2024, therefore this is the final set of accounts for the Company. The accounts have been prepared on a basis other than the going concern basis.

Page 9

 


CORPORATE RISK ASSOCIATES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP, rounded to the nearest £1.

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.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.5

Revenue

Revenue arises from the provision of bespoke safety, risk and reliability consultancy services to safety-critical
and high hazard industries. Revenue is recognised as the service is provided.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and
the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or
receivable, excluding discounts, rebates, value added tax and other sales taxes. 

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
 
    the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.6

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 10

 


CORPORATE RISK ASSOCIATES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

  
2.7

Pensions

Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension
plan under which the Company pays fixed contributions into a separate entity. Once the contributions have
been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are
shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held
separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 11

 


CORPORATE RISK ASSOCIATES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
3 to 6 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Financial instruments


The Company only enters into basic financial instrument transactions that result in the recognition of financial
assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans
to related parties and investments in ordinary shares.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

In the preparation of these financial statements, management have made no judgements or estimates which are
considered to have had a significant impact on the financial statements.


4.


Turnover

An analysis of turnover by class of business is as follows:


2024
2023
£
£

Business and management consultancy
6,481,820
6,182,980

6,481,820
6,182,980


Analysis of turnover by country of destination:

2024
2023
£
£

United Kingdom
6,318,752
5,991,971

Europe
85,432
36,166

Rest of the world
77,636
154,843

6,481,820
6,182,980


Page 12

 


CORPORATE RISK ASSOCIATES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Operating profit

The operating profit is stated after charging:

2024
2023
£
£

Depreciation
14,625
9,566

Exchange differences
(181)
670

Other operating lease rentals
118,807
96,327


6.


Auditors' remuneration

2024
2023
£
£

Fees payable to the Company's auditors for the audit of the Company's financial statements
16,500
15,250


7.


Employees

2024
2023
£
£

Wages and salaries
3,525,982
3,271,862

Social security costs
402,786
394,909

Cost of defined contribution scheme
545,224
514,966

4,473,992
4,181,737


The average monthly number of employees, including the Directors, during the year was as follows:


        2024
        2023
            No.
            No.







Directors
3
3



Admin Staff
6
9



Production Staff
61
51

70
63

Page 13

 


CORPORATE RISK ASSOCIATES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
205,289
206,652

Company contributions to defined contribution pension schemes
9,142
12,180

214,431
218,832


During the year retirement benefits were accruing to 1 Director (2023 - 1) in respect of defined contribution pension schemes.

The above disclosure relates to one Director in both years and therefore this is also the highest paid Director.


9.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
30,992
64,098

Adjustments in respect of previous periods
11,387
44,000


42,379
108,098


Total current tax
42,379
108,098

Deferred tax


Origination and reversal of timing differences
13,175
5,803

Total deferred tax
13,175
5,803


Tax on profit
55,554
113,901
Page 14

 


CORPORATE RISK ASSOCIATES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
 
9.Taxation (continued)


Factors that affected the tax charge for the year

The tax assessed for the year is higher than (2023 - higher than) the standard rate of corporation tax in the UK of 25% (2023 - 23.52%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
144,752
267,673


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 23.52%)
36,188
62,958

Effects of:


Expenses not deductible for tax purposes
7,980
96

Adjustments to tax charge in respect of prior periods
11,386
44,000

Fixed asset differences
-
(158)

Remeasurement of deferred tax for changes in tax rates
-
(76)

Movement in deferred tax not recognised
-
7,081

Total tax charge for the year
55,554
113,901

Page 15

 


CORPORATE RISK ASSOCIATES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Tangible fixed assets





Computer equipment

£



Cost 


At 1 January 2024
240,826


Additions
23,400


Disposals
(5,427)



At 31 December 2024

258,799



Depreciation


At 1 January 2024
219,249


Charge for the year on owned assets
14,625


Disposals
(1,261)



At 31 December 2024

232,613



Net book value



At 31 December 2024
26,186



At 31 December 2023
21,577


11.


Debtors

2024
2023
£
£


Trade debtors
246,543
511,553

Amounts owed by group undertakings
41,071
6,430

Other debtors
83,665
147,273

Prepayments and accrued income
304,453
529,094

Tax recoverable
48,888
(30,009)

Deferred taxation
-
7,197

724,620
1,171,538


Page 16

 


CORPORATE RISK ASSOCIATES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

12.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
17,284
144,161

Amounts owed to group undertakings
-
185,511

Other taxation and social security
250,216
412,519

Other creditors
-
45,585

Accruals and deferred income
195,506
409,393

463,006
1,197,169



13.


Deferred taxation




2024


£






At beginning of year
7,197


Charged to the profit or loss
(13,175)



At end of year
(5,978)

The deferred taxation balance is made up as follows:

2024
2023
£
£



Fixed asset timing differences
(5,978)
(4,701)

Short term timing differences
-
11,898

(5,978)
7,197


14.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



50 (2023 - 50) Ordinary shares of £1.00 each
50
50

Ordinary shares carry voting rights and there are no restrictions on the distributions of dividends.


Page 17

 


CORPORATE RISK ASSOCIATES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

15.


Reserves

Capital redemption reserve
This non-distributable reserve represents the amount transferred from distributable profits following the purchase    of the Company’s own shares.
Profit and loss account
This reserve represents the sum of the Company’s retained earnings and accumulated losses.


16.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
-
56,130

Later than 1 year and not later than 5 years
-
39,375

-
95,505


17.


Related party transactions

In accordance with the exemptions by Financial Reporting Standard 102, transactions with Group Companies have
not been disclosed in these financial statements.


18.


Post balance sheet events

After the year end, on 1 January 2025 the company's trade and assets were hived up into the parent company Assystem Energy & Infrastructure Limited.


19.


Controlling parties

At 31 December 2024, the immediate parent company was Assystem Energy & Infrastructure Limited. The ultimate parent company and controlling party is Assystem S.A. a company registered in France, whose office is at 70 Boulevard de Courcelles, 75017, Paris, France. Copies of the consolidated accounts of Assystem S.A. which is the largest and smallest group for which group accounts are prepared, are available from the website www.assystem.com.

Page 18