RISK CONVERGENCE GROUP LIMITED

Company Registration Number:
04282816 (England and Wales)

Unaudited statutory accounts for the year ended 30 September 2024

Period of accounts

Start date: 01 October 2023

End date: 30 September 2024

RISK CONVERGENCE GROUP LIMITED

Contents of the Financial Statements

for the Period Ended 30 September 2024

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

RISK CONVERGENCE GROUP LIMITED

Company Information

for the Period Ended 30 September 2024




Director: Paul Lucas
Neil Pengelly
Secretary: Neil Pengelly
Registered office: 114-116
114-116 Curtain Road
London
GBR
EC2A 3AH
Company Registration Number: 04282816 (England and Wales)

RISK CONVERGENCE GROUP LIMITED

Directors' Report Period Ended 30 September 2024

The directors present their report with the financial statements of the company for the period ended 30 September 2024

Principal Activities

The principal activity of the company in the period under review was: Management Holding Company

Political and charitable donations

No charitable donations or contributions to political organisations were made during the year.

Company policy on the employment of disabled persons

It is the company’s policy to give employment to disabled persons wherever practicable. At present the company does not have any employees.

Additional information

The company was Incorporated on 30th May 2002. Activities The company started out as a management holding company which aimed to launch a new venture in the sports and gaming world. As part of this aim, the Company tried to take over a well-known company in the field during 2003 but was unable to complete the deal. This failure was subject to litigation that was, for a time, the Company's sole remaining activity. Conclusion of Legal Action Following the failure by the Company to secure the purchase of Zetters International Pools Limited from Zetters Group plc (now renamed IFX Group plc), the company took legal action to reclaim the costs of the aborted takeover under the exclusivity agreement signed by both parties at the time of the negotiations. After much discussion between the parties, the directors eventually agreed a settlement out of court on behalf of the Company. The settlement was paid to the Company in December 2003. The Company has not generated any income since but has invested some of its funds in two companies. One of these companies operates in the Financial Services field and the other provides systems to agencies for eprocurement. The Company has incurred costs during the legal action and for general running. Although the Company's original main aim has been thwarted, it has been decided by the directors that the Company will remain, for the foreseeable future, as a management and investment holding company. The company's only remaining purpose was as a long term holder of just two investments - one of which was redeemed during 2021 at a loss.

Directors

The directors shown below have held office during the whole of the period from 01 October 2023 to 30 September 2024
Paul Lucas
Neil Pengelly

Secretary
Neil Pengelly

This report was approved by the board of directors on 15 January 2025
And Signed On Behalf Of The Board By:

Name: Neil Pengelly
Status: Director

RISK CONVERGENCE GROUP LIMITED

Profit and Loss Account

for the Period Ended 30 September 2024


Notes

2024
£

2023
£
Turnover 0 0
Cost of sales ( 0 ) ( 0 )
Gross Profit or (Loss) 0 0
Income from coronavirus (COVID-19) business support grants 0 0
Distribution Costs ( 0 ) ( 0 )
Administrative Expenses ( 34 ) ( 13 )
Operating Profit or (Loss) ( 34 ) ( 13 )
Profit or (Loss) Before Tax ( 34 ) ( 13 )
Profit or (Loss) for Period ( 34 ) ( 13 )

The notes form part of these financial statements

RISK CONVERGENCE GROUP LIMITED

Balance sheet

As at 30 September 2024


Notes

2024
£

2023
£
Fixed assets
Tangible assets: 4 0 0
Total fixed assets: 0 0
Current assets
Debtors: 5 412 412
Cash at bank and in hand: 100 100
Total current assets: 512 512
Creditors: amounts falling due within one year: 6 ( 18,093 ) ( 18,059 )
Net current assets (liabilities): ( 17,581 ) ( 17,547 )
Total assets less current liabilities: ( 17,581 ) ( 17,547 )
Total net assets (liabilities): ( 17,581 ) ( 17,547 )

The notes form part of these financial statements

RISK CONVERGENCE GROUP LIMITED

Balance sheet continued

As at 30 September 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 100 100
Profit and loss account: ( 17,681 ) ( 17,647 )
Shareholders funds: ( 17,581 ) ( 17,547 )

For the year ending 30 September 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.

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 15 January 2025
And Signed On Behalf Of The Board By:

Name: Neil Pengelly
Status: Director

The notes form part of these financial statements

RISK CONVERGENCE GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 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

    Tangible fixed assets depreciation policy

    see Valuation Policy

    Valuation information and policy

    Investments : The Company's Directors review the value of shares and investments held in the Balance Sheet as at the end of the financial year. The Company then makes provision to any diminution in value that the directors feel is appropriate based on quoted prices or a conservative opinion of the investments value.

RISK CONVERGENCE GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 0 0

    Company policy on the employment of disabled persons

    It is the company's policy to give employment to disabled persons wherever practicable. At present the company does not have any employees.

RISK CONVERGENCE GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 3. Off balance sheet disclosure

    No

RISK CONVERGENCE GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

4. Tangible assets

Fixtures & fittings Total
Cost £ £
At 01 October 2023 - -
Additions - -
Disposals - -
Revaluations - -
Transfers - -
At 30 September 2024 - -
Depreciation
At 01 October 2023 - -
Charge for year - -
On disposals - -
Other adjustments - -
At 30 September 2024 - -
Net book value
At 30 September 2024 - -
At 30 September 2023 - -

Fixed Assets = INVESTMENTS.......................Quoted Shares = £15,000 (£15,000 in 2023)................... Less Provision for Diminution in Value = £15,000) (£15,000 in 2023)..................Total = £0 (£ 0 in 2023) NB - Unquoted Shares (£26250) Redeemed in 2021 for £21250 at a £5000 loss

RISK CONVERGENCE GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

5. Debtors


2024
£

2023
£
Other debtors 412 412
Total 412 412

Other Debtors = VAT Receivable

RISK CONVERGENCE GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

6.Creditors: amounts falling due within one year note


2024
£

2023
£
Trade creditors 6,965 6,965
Other creditors 11,128 11,094
Total 18,093 18,059

Trade Creditors = £ 6,965 (£ 6,965 in 2023)........ Amounts owed to directors = £ 363 (£ 328 in 2023)........................ Amounts owed to related companies = £10,766 (£10,766 in 2023)....................Totals £18,093 (£18,059 in 2023)