REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
PARAMOUNT RISK MANAGEMENT LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
PARAMOUNT RISK MANAGEMENT LIMITED |
PARAMOUNT RISK MANAGEMENT LIMITED (REGISTERED NUMBER: 08106753) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
PARAMOUNT RISK MANAGEMENT LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
5 The Quadrant |
Coventry |
West Midlands |
CV1 2EL |
PARAMOUNT RISK MANAGEMENT LIMITED (REGISTERED NUMBER: 08106753) |
BALANCE SHEET |
30 JUNE 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
PARAMOUNT RISK MANAGEMENT LIMITED (REGISTERED NUMBER: 08106753) |
BALANCE SHEET - continued |
30 JUNE 2024 |
The financial statements were approved by the director and authorised for issue on |
PARAMOUNT RISK MANAGEMENT LIMITED (REGISTERED NUMBER: 08106753) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
1. | STATUTORY INFORMATION |
Paramount Risk Management Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
At 30 June 2024 the company had net liabilities of £26,422 (2023; £64,420). Based on future forecasted profits and the continuing support of the company's bank the director is of the opinion the company is a going concern, the accounts have been prepared on this basis. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
PARAMOUNT RISK MANAGEMENT LIMITED (REGISTERED NUMBER: 08106753) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group | Listed |
undertakings | investments | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 July 2023 | 29,522 |
Revaluations | 50,750 |
At 30 June 2024 | 80,272 |
NET BOOK VALUE |
At 30 June 2024 | 80,272 |
At 30 June 2023 | 29,522 |
Cost or valuation at 30 June 2024 is represented by: |
Shares in |
group | Listed |
undertakings | investments | Totals |
£ | £ | £ |
Valuation in 2024 | 272 | 80,000 | 80,272 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
PARAMOUNT RISK MANAGEMENT LIMITED (REGISTERED NUMBER: 08106753) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
8. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) |
9. | RELATED PARTY DISCLOSURES |
Exchequer Risk Management Limited, a company under mutual control, was due £400,674 from Paramount Risk Management Limited at the balance sheet date. |
Sportshield Limited, a company under mutual control, owed Paramount Risk Management |
Limited £105,290 at the balance sheet date. |
Exchequer Underwriting Limited, a company under mutual control, owed Paramount Risk Management Limited £33,129 at the balance sheet date. |
Future Power Generation Limited, a company under mutual control, owed Paramount RiskManagement Limited £73,324 at the balance sheet date. |
Hilton Thompson Limited, a company under mutual control, was due £51,497 from Paramount Risk Management Limited at the balance sheet date. |
TRS1 Limited, a company under mutual control, owed Paramount Risk Management Limited £196,487 at the balance sheet date. |
Exchequer Risk Management FX Limited, a company under mutual control, owed Paramount Risk Management Limited £762.54 at the balance sheet date. |
Thompson Roberts Claims Consulting Limited, a company under mutual control, owed Paramount Risk Management Limited £70,261.44 at the balance sheet date. |
Exchequer Wealth Management Limited, a company under mutual control, owed Paramount Risk Management Limited £1,127 at the balance sheet date. |
Viridis Technology Systems Limited, a company under mutual control, owed Paramount Risk Management Limited £60 at the balance sheet date. |
TRS2 Limited, a company under mutual control, was due £4,123 from Paramount Risk Management Limited at the balance sheet date. |
Exchequer Wills & Estate Planning Systems Limited, a company under mutual control, owed Paramount Risk Management Limited £2,474 at the balance sheet date. |