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Company registration number: 09665342
London Wall Risk Management Ltd
Unaudited filleted financial statements
31 July 2024
London Wall Risk Management Ltd
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
London Wall Risk Management Ltd
Directors and other information
Director Colin Heritage
Company number 09665342
Registered office 5 Underwood Street
London
N1 7LY
London Wall Risk Management Ltd
Statement of financial position
31 July 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 1,560 580
Investments 6 48,447 47,868
_______ _______
50,007 48,448
Current assets
Debtors 7 5,153 7,191
Cash at bank and in hand 238,870 254,400
_______ _______
244,023 261,591
Creditors: amounts falling due
within one year 8 ( 13,550) ( 19,765)
_______ _______
Net current assets 230,473 241,826
_______ _______
Total assets less current liabilities 280,480 290,274
_______ _______
Net assets 280,480 290,274
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 280,479 290,273
_______ _______
Shareholder funds 280,480 290,274
_______ _______
For the 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.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 11 April 2025 , and are signed on behalf of the board by:
Colin Heritage
Director
Company registration number: 09665342
London Wall Risk Management Ltd
Notes to the financial statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Underwood Street, London, N1 7LY.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
No provision for deferred taxation has been provided for in the financial statements, due to the amount not being material.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 August 2023 3,881 3,881
Additions 1,564 1,564
_______ _______
At 31 July 2024 5,445 5,445
_______ _______
Depreciation
At 1 August 2023 3,301 3,301
Charge for the year 584 584
_______ _______
At 31 July 2024 3,885 3,885
_______ _______
Carrying amount
At 31 July 2024 1,560 1,560
_______ _______
At 31 July 2023 580 580
_______ _______
6. Investments
Other investments other than loans Total
£ £
Cost
At 1 August 2023 47,868 47,868
Additions 579 579
_______ _______
At 31 July 2024 48,447 48,447
_______ _______
Impairment
At 1 August 2023 and 31 July 2024 - -
_______ _______
Carrying amount
At 31 July 2024 48,447 48,447
_______ _______
At 31 July 2023 47,868 47,868
_______ _______
7. Debtors
2024 2023
£ £
Trade debtors 5,153 5,812
Other debtors - 1,379
_______ _______
5,153 7,191
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Corporation tax - 6,369
Social security and other taxes 675 6,840
Other creditors 12,875 6,556
_______ _______
13,550 19,765
_______ _______
9. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Colin Heritage ( 1,637) ( 11,675) 1,637 ( 11,675)
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Colin Heritage ( 1,129) ( 508) - ( 1,637)
_______ _______ _______ _______