Registration number:
Concept Special Risks Holdings Ltd
for the Period from 1 June 2024 to 31 December 2024
Concept Special Risks Holdings Ltd
Contents
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Balance Sheet |
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Notes to the Financial Statements |
Concept Special Risks Holdings Ltd
(Registration number: 08383302)
Balance Sheet as at 31 December 2024
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31 December |
31 May |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Capital and Reserves |
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Called up share capital |
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Capital redemption reserve |
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Retained earnings |
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Shareholders' funds |
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Approved and authorised by the
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Concept Special Risks Holdings Ltd
Notes to the Financial Statements for the Period from 1 June 2024 to 31 December 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 including the disclosure and presentation requirements of Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The company's functional and presentation currency is pound sterling.
Summary of disclosure exemptions
The company has taken advantage of the exemption under Financial Reporting Standard 102 Section 1AC.35 from disclosing transactions and balances with fellow group undertakings that are wholly owned.
Group accounts not prepared
Disclosure of long or short period
Audit report
Investments
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Dividends on equity securities are recognised in income when receivable.
Concept Special Risks Holdings Ltd
Notes to the Financial Statements for the Period from 1 June 2024 to 31 December 2024
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Financial instruments
Basic financial assets, including trade and other receivables, 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 for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities
Basic financial liabilities, including trade and other payables, 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 receipts discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
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Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
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Investments |
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31 December |
31 May |
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Investments in subsidiaries |
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Concept Special Risks Holdings Ltd
Notes to the Financial Statements for the Period from 1 June 2024 to 31 December 2024
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Subsidiaries |
£ |
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Cost |
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At 1 June 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 31 May 2024 |
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Debtors |
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Current |
Note |
31 December |
31 May |
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Amounts owed by related parties |
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Creditors |
Creditors: amounts falling due within one year
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Note |
31 December |
31 May |
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Due within one year |
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Amounts due to related parties |
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Share capital |
Allotted, called up and fully paid shares
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31 December |
31 May |
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No. |
£ |
No. |
£ |
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2,696 |
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2,696 |
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Related party transactions |
Income and receivables from related parties
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2024 |
Subsidiary |
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Amounts receivable from related party |
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2024 |
Subsidiary |
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Amounts receivable from related party |
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Concept Special Risks Holdings Ltd
Notes to the Financial Statements for the Period from 1 June 2024 to 31 December 2024
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Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is