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Registered Number: 11147222
England and Wales

 

 

 

UPSTREAM RISK MANAGEMENT LIMITED



Abridged Accounts
 


Period of accounts

Start date: 01 February 2024

End date: 31 January 2025
In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the accounts of Upstream Risk Management Limited for the year ended 31 January 2025 which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the member of Upstream Risk Management Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Upstream Risk Management Limited and state those matters that we have agreed to state to the Board of Upstream Risk Management Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants and as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Upstream Risk Management Limited and its members as a body for our work or for this report.

It is your duty to ensure that Upstream Risk Management Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and Profit of Upstream Risk Management Limited. You consider that Upstream Risk Management Limited 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 accounts of Upstream Risk Management Limited. 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 accounts.



....................................................
Allazo Ltd
2 Claridge Court
Lower Kings Road
Berkhamsted
Hertfordshire
HP4 2AF
06 August 2025
1
 
 
Notes
 
2025
£
  2024
£
Fixed assets      
Tangible fixed assets 3 4,233    337 
Investments 4 6,879    600 
11,112    937 
Current assets      
Debtors 788,597    223,872 
Cash at bank and in hand 166,562    94,343 
955,159    318,215 
Creditors: amount falling due within one year (881,675)   (239,440)
Net current assets 73,484    78,775 
 
Total assets less current liabilities 84,596    79,712 
Provisions for liabilities (1,058)  
Net assets 83,538    79,712 
 

Capital and reserves
     
Called up share capital 5 10    10 
Profit and loss account 83,528    79,702 
Shareholders' funds 83,538    79,712 
 


For the year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 06 August 2025 and were signed on its behalf by:


-------------------------------
David Livingston
Director
2
General Information
Upstream Risk Management Limited is a private company, limited by shares, registered in England and Wales, registration number 11147222, registration address Suite 6 Jelmac House, 269 High Street, Berkhamsted, Herts, HP4 1AA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Group accounts
The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has, therefore, taken advantage of the option provided by section 398 of the Companies Act 2006 not to prepare group accounts.
Change in accounting policy
The company has changed its accounting policy from FRS 105 to FRS 102 Section 1A for the year ended 31st January 2025, as it no longer meets the criteria to be classified as a micro entity. No material changes to prior years have occurred as a result of the change in policy, therefore no prior period changes have been made. 
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. Turnover includes revenue earned from the rendering of services, the policy adopted is as follows:
  • Rendering of services 
Turnover from the rendering of services from service fees is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably. 

Investments in subsidiaries
Investments in subsidiaries are held at cost less impairment.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
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 or refundable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.

Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.  Current and deferred tax assets and liabilities are not discounted.


Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 20% Straight Line
Computer Equipment 25% Straight Line
Factored debts
The company includes factored debts within trade debtors since most of the risks and rewards of ownership of the factored debts have not passed to the factors. A corresponding liability is included in liabilities in respect of the proceeds received from the factor.
Current asset investments
Current asset investments are stated at the lower of cost and net realisable value.
Provisions
Provisions are recognised when the company has a legal or constructive obligation, as a result of past events, for which it is probable that an outflow of economic benefits will result and that outflow can be reliably measured.
Provisions are measured using the best estimate of amounts required to settle the obligation at the end of the reporting period.
Significant Judgements and Estimates
Preparation of the financial statements requires management to make judgements and estimates. The following are management judgements in applying the accounting policies of the group that have the most significant effect on the financial statements.
  • Going concern
The company's forecasts and projections, taking into account potential changes in trading patterns, indicate that the company will be able to continue current operations for the foreseeable future. The directors have included new business opportunities within the scenario based forecasts and on this basis the directors believe there is a reasonable expectation that the company will continue in operational existence for the foreseeable future. In addition the directors have obtained comfort from other companies within the wider related party group that they will provide financial support should the need arise and will not seek repayment of related party loans within 12 months of the date of approval of these financial statements. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.
  • Subsequent events 
There are no post balance sheet events which warrant adjustment or disclosure.
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 assets
Basic financial assets, including trade and other debtors, inter-group loans, cash and bank balances, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method. Assets within one year are not amortised.
  • Financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans 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 receipts discounted at a market rate of interest.



2.

Average number of employees

Average number of employees during the year was 16 (2024 : 12).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 February 2024 388    1,453    1,841 
Additions 5,000      5,000 
Disposals    
At 31 January 2025 5,388    1,453    6,841 
Depreciation
At 01 February 2024 78    1,426    1,504 
Charge for year 1,077    27    1,104 
On disposals    
At 31 January 2025 1,155    1,453    2,608 
Net book values
Closing balance as at 31 January 2025 4,233      4,233 
Opening balance as at 01 February 2024 310    27    337 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 February 2024 600    600 
Additions 6,279    6,279 
Transfer to/from tangible fixed assets  
Disposals  
At 31 January 2025 6,879    6,879 

5.

Share Capital

Allotted, called up and fully paid
2025
£
  2024
£
10 Ordinary shares of £1.00 each 10    10 
10    10 

6.

Ultimate controlling party

The company was under the ultimate control of its directors.
3