REASSURANCE RESOURCE MANAGEMENT LIMITED

Company Registration Number:
08747439 (England and Wales)

Unaudited abridged accounts for the year ended 31 July 2024

Period of accounts

Start date: 01 August 2023

End date: 31 July 2024

REASSURANCE RESOURCE MANAGEMENT LIMITED

Contents of the Financial Statements

for the Period Ended 31 July 2024

Company Information - 3
Report of the Directors - 4
Balance sheet - 5
Additional notes - 7
Balance sheet notes - 10

REASSURANCE RESOURCE MANAGEMENT LIMITED

Company Information

for the Period Ended 31 July 2024




Director: K.M. McGowan
Secretary: J.W. Okerefe
Registered office: Ground Floor, Bishops Court
17a The Broadway
Old Hatfields
Hatfield
Hertfordshire
England
AL9 5HZ
Company Registration Number: 08747439 (England and Wales)

REASSURANCE RESOURCE MANAGEMENT LIMITED

Directors' Report Period Ended 31 July 2024

The directors present their report with the financial statements of the company for the period ended 31 July 2024

Principal Activities

are the provision of public provision of public relations, concierge, and library management services. The company has a premise in the UK, where it bases its operations.

Political and charitable donations

The company did not make any disclosable political donations in the current financial year.

Company policy on the employment of disabled persons

It is the policy of the Company, where possible, to give full and fair consideration to disabled persons in their applications for employment within the Company and continuing the employment of, and arranging training for, employees who have become disabled persons whilst employed and otherwise for the training, career development and promotion of disabled persons.

Additional information

Financial key performance indicators: The key performance indicators for the Company are turnover, gross profit and profit before tax. The results for the year are set out in the Statement of Income and Retained Earnings. The result for the year and financial position at the yearend were considered satisfactory by the Directors. Reassurance remains focused on reducing its general administration and sales costs as part of its integration plans. Going concern: The directors have considered going concern in preparing these financial statements. Having received these support letters and considering the current and forecast financial position of the shareholders and their willingness and ability to provide financial support to the Company as needed, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Directors

The directors shown below have held office during the whole of the period from 01 August 2023 to 31 July 2024
K.M. McGowan

Secretary
J.W. Okerefe

This report was approved by the board of directors on 27 May 2025
And Signed On Behalf Of The Board By:

Name: K.M. McGowan
Status: Director

REASSURANCE RESOURCE MANAGEMENT LIMITED

Balance sheet

As at 31 July 2024


Notes

2024
£

2023
£
Fixed assets
Tangible assets: 4 84,628 62,296
Total fixed assets: 84,628 62,296
Current assets
Debtors: 32,896 62,387
Cash at bank and in hand: 11,781 45,923
Total current assets: 44,677 108,310
Creditors: amounts falling due within one year: ( 75,424 ) ( 135,194 )
Net current assets (liabilities): ( 30,747 ) ( 26,884 )
Total assets less current liabilities: 53,881 35,412
Creditors: amounts falling due after more than one year: ( 47,176 ) ( 55,271 )
Total net assets (liabilities): 6,705 ( 19,859 )

The notes form part of these financial statements

REASSURANCE RESOURCE MANAGEMENT LIMITED

Balance sheet continued

As at 31 July 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 6,704 ( 19,860 )
Shareholders funds: 6,705 ( 19,859 )

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 27 May 2025
And Signed On Behalf Of The Board By:

Name: K.M. McGowan
Status: Director

The notes form part of these financial statements

REASSURANCE RESOURCE MANAGEMENT LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

    Tangible fixed assets depreciation policy

    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.

    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.
    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 the Income Statement.


    Intangible fixed assets amortisation policy

    Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

    All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

    Other accounting policies

    The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the financial statements. Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made are set out below. Significant management judgements: The following are the significant management judgements made in applying the accounting policies of the Company that have the most significant effect on the financial statements. Useful economic lives of property, plant and equipment: The annual depreciation charge for property, plant and equipment is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation, and the physical condition of the assets. See Tangible fixed asset note for the carrying amount of the property, plant and equipment and for the useful economic lives for each class of asset. Taxation: Management judgement is required to determine the amount of deferred tax assets that can be recognised, based upon the likely timing and level of future taxable profits together with an assessment of the effect of future tax planning strategies.

REASSURANCE RESOURCE MANAGEMENT LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 29 33

    The Company Directors did not receive any remuneration in respect to services to the Company (2023: £Nil). The Company considers its directors to be its key management.

REASSURANCE RESOURCE MANAGEMENT LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 3. Off balance sheet disclosure

    No

REASSURANCE RESOURCE MANAGEMENT LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

4. Tangible Assets

Total
Cost £
At 01 August 2023 74,575
Additions 23,608
Disposals -
Revaluations -
Transfers -
At 31 July 2024 98,183
Depreciation
At 01 August 2023 12,279
Charge for year 1,276
On disposals -
Other adjustments -
At 31 July 2024 13,555
Net book value
At 31 July 2024 84,628
At 31 July 2023 62,296

Included in fixtures and office equipment additions are assets under construction of £23,608 (2023: £nil). These assets are not depreciated until completion. Assets under construction were transferred to intangible assets during the year as the characteristics of these items aligned to that of an intangible asset.

REASSURANCE RESOURCE MANAGEMENT LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 5. Financial Commitments

    Under Sections 11 and 12 of FRS 102, entities have an accounting policy choice to either follow the provisions of Sections 11 and 12 of FRS 102 or the recognition and measurement provisions of IAS 39 or IFRS 9 and the presentation and disclosure requirements of Sections 11 and 12. The Company has chosen to follow the provisions of Sections 11 and 12 of FRS 102.

    The Company generally 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.

    Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and loss account.

    For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

    Financial assets and liabilities are offset, and the net amount reported in the Statement of Financial Position when there is an 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.

    Where financial instruments are classified as complex in accordance with Section 12 of FRS 102, the fair value of complex financial instruments is measured based on the guidance in FRS 102 set out in the Appendix to Chapter 2: Concepts and Pervasive Principles, as required by FRS 102 12.10.

    Basic financial instruments are recorded initial at the transaction price (or fair value for financing transaction) and subsequently applying the amortising cost method using the effective interest rate.

REASSURANCE RESOURCE MANAGEMENT LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

6.1.Related party disclosures

Name of related party: Reassurance Security Services Limited.
Description of relationship:
In the directors’ opinion, the company’s ultimate undertaking and controlling party is Reassurance Security Services Limited, a company incorporated and registered in the UK.
Description of the transaction:
The Company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 be Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries. There have been no transactions with Directors or any other related parties. Key management are those persons having authority and responsibility for planning, controlling and directing the activities of the Company. In the opinion of the board, the Company’s key management are the directors of Reassurance Security Services Limited.