Silverfin false false 31/07/2024 01/08/2023 31/07/2024 S Agass 01/03/2023 Dr J A Bishop 12/01/2005 Dr M D Bull 01/09/2024 01/06/2000 Dr R Gordon 01/06/2000 25 April 2025 The principal activity of the Company during the financial year was that of developing specialised software solutions for technical scientific applications. 03812608 2024-07-31 03812608 bus:Director1 2024-07-31 03812608 bus:Director2 2024-07-31 03812608 bus:Director3 2024-07-31 03812608 bus:Director4 2024-07-31 03812608 2023-07-31 03812608 core:CurrentFinancialInstruments 2024-07-31 03812608 core:CurrentFinancialInstruments 2023-07-31 03812608 core:Non-currentFinancialInstruments 2024-07-31 03812608 core:Non-currentFinancialInstruments 2023-07-31 03812608 core:ShareCapital 2024-07-31 03812608 core:ShareCapital 2023-07-31 03812608 core:RetainedEarningsAccumulatedLosses 2024-07-31 03812608 core:RetainedEarningsAccumulatedLosses 2023-07-31 03812608 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-07-31 03812608 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-07-31 03812608 core:ImmediateParent core:CurrentFinancialInstruments 2024-07-31 03812608 core:ImmediateParent core:CurrentFinancialInstruments 2023-07-31 03812608 core:CurrentFinancialInstruments core:Secured 2024-07-31 03812608 core:OtherSubsidiariesTotalIndividuallyImmaterialSubsidiaries core:CurrentFinancialInstruments 2024-07-31 03812608 core:OtherSubsidiariesTotalIndividuallyImmaterialSubsidiaries core:CurrentFinancialInstruments 2023-07-31 03812608 bus:OrdinaryShareClass1 2024-07-31 03812608 2023-08-01 2024-07-31 03812608 bus:FilletedAccounts 2023-08-01 2024-07-31 03812608 bus:SmallEntities 2023-08-01 2024-07-31 03812608 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 03812608 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 03812608 bus:Director1 2023-08-01 2024-07-31 03812608 bus:Director2 2023-08-01 2024-07-31 03812608 bus:Director3 2023-08-01 2024-07-31 03812608 bus:Director4 2023-08-01 2024-07-31 03812608 core:DevelopmentCostsCapitalisedDevelopmentExpenditure core:TopRangeValue 2023-08-01 2024-07-31 03812608 2022-08-01 2023-07-31 03812608 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-08-01 2024-07-31 03812608 core:CurrentFinancialInstruments 2023-08-01 2024-07-31 03812608 core:Non-currentFinancialInstruments 2023-08-01 2024-07-31 03812608 bus:OrdinaryShareClass1 2023-08-01 2024-07-31 03812608 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 03812608 (England and Wales)

RISKAWARE LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2024
Pages for filing with the registrar

RISKAWARE LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

RISKAWARE LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 July 2024
RISKAWARE LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 1,045,824 847,795
1,045,824 847,795
Current assets
Stocks 270,247 294,282
Debtors 4 655,933 376,954
Cash at bank and in hand 668 150,973
926,848 822,209
Creditors: amounts falling due within one year 5 ( 897,663) ( 680,700)
Net current assets 29,185 141,509
Total assets less current liabilities 1,075,009 989,304
Creditors: amounts falling due after more than one year 6 ( 100,000) ( 180,000)
Net assets 975,009 809,304
Capital and reserves
Called-up share capital 7 20 20
Profit and loss account 974,989 809,284
Total shareholder's funds 975,009 809,304

For the financial year ending 31 July 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of RiskAware Limited (registered number: 03812608) were approved and authorised for issue by the Board of Directors on 25 April 2025. They were signed on its behalf by:

Dr J A Bishop
Director
RISKAWARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
RISKAWARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

RiskAware Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Whitefriars, Lewins Mead, Bristol, BS1 2NT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Development costs 5 years straight line
Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stock is made up of work in progress.

Work in progress is valued at the lower of cost and net realisable value. Costs includes all direct expenditure and an appropriate proportion of overheads. At each reporting date, work in progress is assessed for impairment. If work in progress is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Work in progress is recognised in cost of sales based on the proportion of costs incurred in the production of goods sold as a proportion of the estimated total costs of production.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 33 30

3. Intangible assets

Development costs Total
£ £
Cost
At 01 August 2023 853,086 853,086
Additions 208,491 208,491
At 31 July 2024 1,061,577 1,061,577
Accumulated amortisation
At 01 August 2023 5,291 5,291
Charge for the financial year 10,462 10,462
At 31 July 2024 15,753 15,753
Net book value
At 31 July 2024 1,045,824 1,045,824
At 31 July 2023 847,795 847,795

4. Debtors

2024 2023
£ £
Trade debtors 529,751 288,789
Amounts owed by Group undertakings 0 250
Amounts owed by Parent undertakings 126,182 87,915
655,933 376,954

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts (secured) 202,658 80,000
Trade creditors 11,209 42,079
Amounts owed to fellow subsidiaries 528,218 398,618
Accruals 21,601 19,924
Other taxation and social security 117,042 123,074
Other creditors 16,935 17,005
897,663 680,700

The bank loan and overdraft are secured by way of a fixed and floating charge held over the assets of the company

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 100,000 180,000

The bank loan is secured by way of a fixed and floating charge over the assets of the company

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
20 Ordinary shares of £ 1.00 each 20 20

8. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2024 2023
£ £
Unpaid contributions due to the fund (inc. in other creditors) 14,396 15,070

9. Related party transactions

During the year the Company has taken advantage of the exemption in section 1AC.35 of FRS 102 to not disclose related party transactions with wholly owned subsidiaries within the group.