Company registration number 11834628 (England and Wales)
DERISK (UK) HOLDINGS LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
DERISK (UK) HOLDINGS LTD
COMPANY INFORMATION
Directors
P J Ford
A R Griffiths
M E Smith
Company number
11834628
Registered office
1st Floor Arthur Stanley House
40-50 Tottenham Street
London
United Kingdom
W1T 4RN
Accountants
Goodman Jones LLP
1st Floor Arthur Stanley House
40-50 Tottenham Street
London
W1T 4RN
Business address
Burdett House
15-16 Buckingham Street
London
WC2N 6DU
DERISK (UK) HOLDINGS LTD
CONTENTS
Page
Directors' report
1
Profit and loss account
2
Balance sheet
3
Statement of changes in equity
4
Notes to the financial statements
5 - 7
DERISK (UK) HOLDINGS LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 OCTOBER 2024
- 1 -
The directors present their annual report and financial statements for the year ended 31 October 2024.
Principal activities
The principal activity of the company is that of a holding company.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
P J Ford
A R Griffiths
M E Smith
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
A R Griffiths
Director
23 April 2025
DERISK (UK) HOLDINGS LTD
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 OCTOBER 2024
- 2 -
2024
2023
£
£
Profit before taxation
Tax on profit
Profit for the financial year
The profit and loss account has been prepared on the basis that all operations are continuing operations.
DERISK (UK) HOLDINGS LTD
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 3 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
1,000
1,000
Capital and reserves
Called up share capital
5
987
987
Capital redemption reserve
13
13
Total equity
1,000
1,000
For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 23 April 2025 and are signed on its behalf by:
P J Ford
A R Griffiths
Director
Director
Company registration number 11834628 (England and Wales)
DERISK (UK) HOLDINGS LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2024
- 4 -
Share capital
Capital redemption reserve
Total
£
£
£
Balance at 1 November 2022
987
13
1,000
Year ended 31 October 2023:
Profit and total comprehensive income
-
-
Balance at 31 October 2023
987
13
1,000
Year ended 31 October 2024:
Profit and total comprehensive income
-
-
Balance at 31 October 2024
987
13
1,000
DERISK (UK) HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 5 -
1
Accounting policies
Company information
Derisk (UK) Holdings Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 1st Floor Arthur Stanley House, 40-50 Tottenham Street, London W1T 4RN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.3
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 current liabilities.
DERISK (UK) HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 6 -
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
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.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 3 (2023 - 3).
3
Fixed asset investments
2024
2023
£
£
Investments
1,000
1,000
DERISK (UK) HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
3
Fixed asset investments
(Continued)
- 7 -
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 November 2023 & 31 October 2024
1,000
Carrying amount
At 31 October 2024
1,000
At 31 October 2023
1,000
4
Subsidiaries
Details of the company's subsidiaries at 31 October 2024 are as follows:
Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Derisk (UK) Limited
England & Wales
Health and safety consultancy, asbestos management consultancy and accredited asbestos abatement services
Ordinary
100.00
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
Derisk (UK) Limited
517,644
116,250
The registered office of the above named subsidiary is 1st Floor Arthur Stanley House, 40-50 Tottenham Street, London W1T 4RN.
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
98,675
98,675
987
987
6
Controlling party
The ultimate controlling party is P J Ford, who is also a director.
DERISK (UK) HOLDINGS LTD
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF DERISK (UK) HOLDINGS LTD FOR THE YEAR ENDED 31 OCTOBER 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Derisk (UK) Holdings Ltd for the year ended 31 October 2024 which comprise the profit and loss account, the balance sheet, the statement of changes in equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Derisk (UK) Holdings Ltd, as a body, in accordance with the terms of our engagement letter dated 13 February 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Derisk (UK) Holdings Ltd and state those matters that we have agreed to state to the Board of Directors of Derisk (UK) Holdings Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Derisk (UK) Holdings Ltd and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Derisk (UK) Holdings Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and result of Derisk (UK) Holdings Ltd. You consider that Derisk (UK) Holdings Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Derisk (UK) Holdings Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Goodman Jones LLP
23 April 2025
Chartered Accountants
1st Floor Arthur Stanley House
40-50 Tottenham Street
London
W1T 4RN