Company registration number 07931502 (England and Wales)
RISKHUB CONSULTANCY LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
RISKHUB CONSULTANCY LIMITED
COMPANY INFORMATION
Director
S Herbison
Company number
07931502
Registered office
10-11 Clerkenwell Green
London
England
EC1R 0DP
Auditor
Gravita II LLP
Aldgate Tower
2 Leman Street
London
E1 8FA
RISKHUB CONSULTANCY LIMITED
CONTENTS
Page
Strategic report
1 - 2
Director's report
3 - 4
Independent auditor's report
5 - 7
Income statement
8
Statement of financial position
9
Statement of changes in equity
10
Notes to the financial statements
11 - 18
RISKHUB CONSULTANCY LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

The director presents the strategic report for the year ended 31 December 2024.

Principal activities

The principal activity of the company continued to be that of provision of fire risk services and consultancy.

Review of the business

Turnover decreased by 14.4% to £12,412,900 (2023: £14,504,656), primarily reflecting the normalisation of revenue from our Door Inspections Service launched in 2023. This service contributed £3.4m to revenue in its first year, with expected lower recurring revenue in subsequent years.

Despite this anticipated reduction, profit before taxation increased by 21.5% to £4,103,516 (2023: £3,376,134).

The slight reduction in gross profit margin to 55.2% (2023: 57.0%) reflects the higher resource requirements of the Door Inspections Service, while overall net profit margin improved significantly to 33.1% (2023: 21.7%).

Principal risks and uncertainties

The company is exposed to regulatory, operational and market risks. The director has put the necessary measures in place in order to mitigate these risks as much as possible.

Regulatory Risk

Changes in fire safety regulations following the Building Safety Act require continuous professional development and robust quality assurance processes.

Market Competition

The company mitigates competitive pressure through service differentiation, technical excellence, and leveraging its position within the Riskhub Group.

Resource Management

The challenge of recruiting qualified assessors is addressed through competitive remuneration and professional development opportunities.

Technology Disruption

The company continues to invest in technology integration to enhance service delivery efficiency and maintain competitive advantage.

Economic Factors

Potential impacts from macroeconomic pressures are mitigated through client base diversification and focus on statutory compliance services.

Development and performance

The company is well-positioned for 2025, with plans focused on:

The strong balance sheet provides a solid foundation for these initiatives while maintaining capacity to respond to market changes.

RISKHUB CONSULTANCY LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
Other performance indicators

The key performance indicators are as follows:

KPIs

 

 

 

2024

2023

 

 

 

 

£

£

Turnover

 

 

 

12,412,900

14,504,656

GPM

 

 

 

55.2%

57.0%

 

Operating profit

 

 

 

 

4,397,900

 

5,515,693

OPM

 

 

 

35.4%

38.0%

 

 

 

 

 

 

PBT

 

 

 

4,103,516

3,376,134

PBM                              33.0%     23.3%

 

The significant improvement in profitability demonstrates the effectiveness of operational efficiency measures and strategic focus on higher-margin services.

On behalf of the board

S Herbison
Director
24 April 2025
RISKHUB CONSULTANCY LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -

The director presents her annual report and financial statements for the year ended 31 December 2024.

 

On 22nd April 2024, the company changed its name to Riskhub Inspect Limited.

 

On 25th April 2024, the company changed its address to First Floor,10-11 Clerkenwell, Great London, EC1R 0DP.

 

On 29th April 2024, the company changed its name to Riskhub Consultancy Limited.

Results and dividends

The results for the year are set out on page 8.

Ordinary dividends were paid amounting to £900,000. The director does not recommend payment of a further dividend.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

S Herbison
Auditor

In accordance with the company's articles, a resolution proposing that Gravita II LLP be reappointed as auditor of the company will be put at a General Meeting.

Statement of director's responsibilities

The director is responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the director must not approve the financial statements unless he is 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 director is required to:

The director is 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 enable them to ensure that the financial statements comply with the Companies Act 2006. He is 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.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the director has taken all the necessary steps that they ought to have taken as a director in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

RISKHUB CONSULTANCY LIMITED
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
On behalf of the board
S Herbison
Director
24 April 2025
RISKHUB CONSULTANCY LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF RISKHUB CONSULTANCY LIMITED
- 5 -
Opinion

We have audited the financial statements of Riskhub Consultancy Limited (the 'company') for the year ended 31 December 2024 which comprise the income statement, the statement of financial position, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The 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:

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 Auditor's 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 UK, including the FRC’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.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. However, because not all future events or conditions can be predicted, this statement is not a guarantee as to the company's ability to continue as a going concern.

 

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual report. Our 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.

Opinions on other matters prescribed by the Companies Act 2006

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

RISKHUB CONSULTANCY LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF RISKHUB CONSULTANCY LIMITED (CONTINUED)
- 6 -
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 strategic report and the director's 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:

 

Responsibilities of director

As explained more fully in the director's responsibilities statement, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditor's 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 auditor's 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. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.

The extent to which the audit was considered capable of detecting irregularities including fraud.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

 

RISKHUB CONSULTANCY LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF RISKHUB CONSULTANCY LIMITED (CONTINUED)
- 7 -

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

 

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

 

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment by for example, forgery, or intentional misrepresentation or through collusion. Our audit procedures are designed to detect material misstatements. We are not responsible for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's member in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's member those matters we are required to state to the member in an auditor's 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 member, for our audit work, for this report, or for the opinions we have formed.

Sarah Wilson FCA (Senior Statutory Auditor)
For and on behalf of Gravita II LLP, Statutory Auditor
Chartered Accountants
Aldgate Tower
2 Leman Street
London
E1 8FA
24 April 2025
RISKHUB CONSULTANCY LIMITED
INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
2024
2023
Notes
£
£
Turnover
2
12,412,900
14,504,656
Cost of sales
(5,564,117)
(6,239,130)
Gross profit
6,848,783
8,265,526
Administrative expenses
(2,998,211)
(3,036,707)
Other operating income
547,328
286,874
Operating profit
4,397,900
5,515,693
Interest receivable and similar income
1,476
3,731
Interest payable and similar expenses
(131,757)
(86,653)
Amounts written off investments
(164,103)
(2,056,637)
Profit before taxation
4,103,516
3,376,134
Tax on profit
6
-
0
(223,576)
Profit for the financial year
4,103,516
3,152,558

The income statement has been prepared on the basis that all operations are continuing operations.

RISKHUB CONSULTANCY LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2024
31 December 2024
- 9 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
7
121,660
112,884
Current assets
Debtors
8
11,105,567
7,258,738
Cash at bank and in hand
203,069
173,783
11,308,636
7,432,521
Creditors: amounts falling due within one year
9
(1,683,050)
(1,663,902)
Net current assets
9,625,586
5,768,619
Total assets less current liabilities
9,747,246
5,881,503
Creditors: amounts falling due after more than one year
10
(830,559)
(168,332)
Net assets
8,916,687
5,713,171
Capital and reserves
Called up share capital
12
1
1
Profit and loss reserves
8,916,686
5,713,170
Total equity
8,916,687
5,713,171

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved and signed by the director and authorised for issue on 24 April 2025
S Herbison
Director
Company registration number 07931502 (England and Wales)
RISKHUB CONSULTANCY LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 10 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 January 2023
1
3,460,612
3,460,613
Year ended 31 December 2023:
Profit and total comprehensive income
-
3,152,558
3,152,558
Dividends
-
(900,000)
(900,000)
Balance at 31 December 2023
1
5,713,170
5,713,171
Year ended 31 December 2024:
Profit and total comprehensive income
-
4,103,516
4,103,516
Dividends
-
(900,000)
(900,000)
Balance at 31 December 2024
1
8,916,686
8,916,687
RISKHUB CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 11 -
1
Accounting policies
Company information

Riskhub Consultancy Limited is a private company limited by shares incorporated in England and Wales. The registered office is 10-11 Clerkenwell Green, London, England, EC1R 0DP.

1.1
Accounting convention

These financial statements for the year ended 31 December 2024 are the first financial statements of Riskhub Consultancy Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 January 2023. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Riskhub Limited, Company Number 13668202. These consolidated financial statements are available from its registered office, First Floor, 10-11 Clerkenwell Green, London, England, EC1R 0DP.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for subscription services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Turnover from contracts for the provision of services was recognised by reference to the fee percentage agreed. In the prior year, turnover was invoiced in the month occurred therefore no deferred or accrued income recognised.

 

In the current year, turnover was invoiced in arrears at the end of each month based on the number of risk assessments performed in the year. Therefore, accrued income was recognised.

Other operating income relates to Management Fees receivable that are costs incurred by the company in the year and recharged to other group entities.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% straight line
RISKHUB CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 12 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position 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

Basic financial assets, which include 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 unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Classification of financial liabilities

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.

RISKHUB CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 13 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.12

Management charge

Management charges relate to costs incurred in the year by other group entities and recharged to the company.

2
Turnover and other revenue
2024
2023
£
£
Turnover analysed by class of business
Provision of fire risk services and consultancy
12,412,900
14,504,656
RISKHUB CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
2
Turnover and other revenue
(Continued)
- 14 -
2024
2023
£
£
Other revenue
Interest income
1,476
3,731
3
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
29,470
47,150
For other services
Taxation compliance services
3,350
3,000
4
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
43
51

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
2,393,270
2,808,650
Social security costs
272,615
291,871
Pension costs
120,975
110,272
2,786,860
3,210,793
5
Director's remuneration
2024
2023
£
£
Remuneration paid to directors
4,167
12,500
Company pension contributions to defined contribution schemes
3,000
3,000

As total directors' remuneration was less than £200,000 in the current year, no disclosure is provided for that year.

RISKHUB CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 15 -
6
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
-
0
333,875
Adjustments in respect of prior periods
-
0
(110,299)
Total current tax
-
0
223,576

In the prior period, there was an increase in the tax rate from April 2024 from 19% to 25%. Therefore, a marginal rate of 23.5% was used. This year, the corporation tax rate is 25%.

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
4,103,516
3,376,134
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 23.50%)
1,025,879
793,391
Tax effect of expenses that are not deductible in determining taxable profit
71,874
505,274
Group relief
(1,093,124)
(1,074,043)
Permanent capital allowances in excess of depreciation
(4,629)
(1,046)
Taxation charge for the year
-
223,576
7
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 January 2024
295,004
Additions
68,792
At 31 December 2024
363,796
Depreciation and impairment
At 1 January 2024
182,120
Depreciation charged in the year
60,016
At 31 December 2024
242,136
Carrying amount
At 31 December 2024
121,660
At 31 December 2023
112,884
RISKHUB CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 16 -
8
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
13,182
-
0
Amounts owed by group undertakings
9,992,787
4,659,139
Other debtors
1,099,598
2,599,599
11,105,567
7,258,738

Amounts owed by group undertakings are interest free, unsecured and repayable on demand.

9
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
245,763
113,572
Trade creditors
111,497
373,062
Corporation tax
333,277
333,277
Other taxation and social security
666,266
584,335
Other creditors
326,247
259,656
1,683,050
1,663,902
10
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
830,559
168,332
11
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
120,975
110,272

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

12
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
of £1 each
1
1
1
1
RISKHUB CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 17 -
13
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
Within one year
550,485
118,212
Between two and five years
2,091,841
-
0
2,642,326
118,212
14
Events after the reporting date

On 24th January 2025, the company fully repaid one of its bank loans of £500,000. This repayment occurred after the balance sheet date and has been reflected in the company’s cash position, but does not result in any changes to the reported liabilities as of 31st December 2024.

15
Related party transactions
Remuneration of key management personnel
2024
2023
£
£
Aggregate compensation
102,411
185,629

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due from related parties
£
£
Other related parties
10,000
-
Other information

On the 31 December 2024 a loan amounting to £164,103 (2023 : £2,056,637) was written off between Riskhub Consultancy Limited and a company which is also 96.9% owned by the Director, Sarah Herbison.

RISKHUB CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
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16
Directors' transactions

The following transactions took place with the director within the year:

Description
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Director's loan
1,534,883
991,595
(2,526,478)
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1,534,883
991,595
(2,526,478)
-
17
Parent company

The immediate and ultimate parent company is Riskhub Limited, whose registered office is 10-11 Clerkenwell Green, London, England, EC1R 0DP.

The smallest and largest group for which consolidated accounts including the company are prepared is the one headed by Riskhub Limited these accounts are available from the registered office.

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