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REGISTERED NUMBER: 02286143 (England and Wales)




















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

FINANCIAL RISK CONSULTANTS LIMITED

FINANCIAL RISK CONSULTANTS LIMITED (REGISTERED NUMBER: 02286143)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FINANCIAL RISK CONSULTANTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTOR: A P Phiroz





SECRETARY: Mrs A A Phiroz





REGISTERED OFFICE: 4 New Farm Lane
Northwood
Middlesex
HA6 1HD





REGISTERED NUMBER: 02286143 (England and Wales)





ACCOUNTANTS: Mehta & Tengra
Chartered Accountants
9 Berners Place
London
W1T 3AD

FINANCIAL RISK CONSULTANTS LIMITED (REGISTERED NUMBER: 02286143)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 1 1
Investments 5 138,235 116,329
138,236 116,330

CURRENT ASSETS
Debtors 6 68,045 80,799
Cash at bank 207,365 200,431
275,410 281,230
CREDITORS
Amounts falling due within one year 7 (10,723 ) (8,489 )
NET CURRENT ASSETS 264,687 272,741
TOTAL ASSETS LESS CURRENT
LIABILITIES

402,923

389,071

PROVISIONS FOR LIABILITIES 8 (5,041 ) (879 )
NET ASSETS 397,882 388,192

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Fair value reserve 10 21,494 3,750
Retained earnings 10 375,388 383,442
SHAREHOLDERS' FUNDS 397,882 388,192

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

FINANCIAL RISK CONSULTANTS LIMITED (REGISTERED NUMBER: 02286143)

BALANCE SHEET - continued
30 SEPTEMBER 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 June 2025 and were signed by:





A P Phiroz - Director


FINANCIAL RISK CONSULTANTS LIMITED (REGISTERED NUMBER: 02286143)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

Financial Risk Consultants Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents the commission receivable from specialist credit and general insurance broking.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% per annum - straight line
Computer equipment - 33% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Listed investments
(a) The company's listed investment were valued on an open market basis.

(b) The historical cost of listed investments is £90,000.

(c) Listed investment is included at market value.
Gains are recognised in the income statement.
Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The gain less the deferred tax is reflected under Fair value reserve in the Balance sheet.

FINANCIAL RISK CONSULTANTS LIMITED (REGISTERED NUMBER: 02286143)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 October 2023
and 30 September 2024 16,782 6,874 23,656
DEPRECIATION
At 1 October 2023
and 30 September 2024 16,781 6,874 23,655
NET BOOK VALUE
At 30 September 2024 1 - 1
At 30 September 2023 1 - 1

5. FIXED ASSET INVESTMENTS

2024 2023
£    £   
Other investments not loans 138,235 116,329

Additional information is as follows:
Listed
investments
£   
COST OR VALUATION
At 1 October 2023 92,019
Revaluations 14,631
At 30 September 2024 106,650
NET BOOK VALUE
At 30 September 2024 106,650
At 30 September 2023 92,019

FINANCIAL RISK CONSULTANTS LIMITED (REGISTERED NUMBER: 02286143)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 30 September 2024 is represented by:

Listed
investments
£   
Valuation in 2018 2,180
Valuation in 2019 167
Valuation in 2020 4,198
Valuation in 2021 19,679
Valuation in 2022 (30,504 )
Valuation in 2023 6,299
Valuation in 2024 14,631
Cost 90,000
106,650

Gold cost or valuation at 30 September 2024 is represented by: Gold Bullion
Totals
£
Cost 21,700
Valuation 2016 +11,044
Valuation 2017 -17,210
Valuation 2018 -963
Valuation 2019 +4,854
Valuation 2020 +4,182
Valuation 2021 -2830
Valuation 2022 +3,223
Valuation 2023 +310
Valuation 2024 +7,275

31,585


Investments (neither listed nor unlisted) were as follows:
2024 2023
£    £   
Brought forward 24,310 24,000
Revaluation 7,275 310
31,585 24,310

FINANCIAL RISK CONSULTANTS LIMITED (REGISTERED NUMBER: 02286143)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 10,000 10,000
Directors' current accounts 40,877 50,488
Corporation tax recoverable 17,148 20,308
Prepayments 20 3
68,045 80,799

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation tax 653 6,296
Other creditors 6,611 212
Accrued expenses 3,459 1,981
10,723 8,489

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Revaluation listed investments 5,041 879

Deferred
tax
£   
Balance at 1 October 2023 879
Provided during year 4,162
Balance at 30 September 2024 5,041

9. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000

FINANCIAL RISK CONSULTANTS LIMITED (REGISTERED NUMBER: 02286143)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


10. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 October 2023 383,442 3,750 387,192
Profit for the year 19,690 19,690
Dividends (10,000 ) (10,000 )
Revaluation (17,744 ) 17,744 -
At 30 September 2024 375,388 21,494 396,882

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£    £   
A P Phiroz
Balance outstanding at start of year 50,488 64,399
Amounts advanced 12,590 20,488
Amounts repaid (22,201 ) (34,399 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 40,877 50,488

Interest of £899.49 was paid during the year.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A P Phiroz.