REGISTERED NUMBER: 06343872 (England and Wales)

Unaudited Financial Statements

for the period

1 October 2024 to 31 December 2025

for

ES Risks Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

DIRECTORS:

C Hobbs

A J Massingham

D J Seddon

Ms A M Faulkner

REGISTERED OFFICE:

1-2 Charterhouse Mews

London

EC1M 6BB

REGISTERED NUMBER:

06343872 (England and Wales)

ACCOUNTANTS:

ansteybond

1-2 Charterhouse Mews

London

EC1M 6BB

FIXED ASSETS

Intangible assets

4

3,496

12,733

Tangible assets

5

7,812

9,868

Investments

6

4,217

4,217

15,525

26,818

CURRENT ASSETS

Debtors

7

11,360,872

16,645,501

Cash at bank

768,138

950,102

12,129,010

17,595,603

CREDITORS

Amounts falling due within one year

8

(11,450,093

)

(12,494,481

)

NET CURRENT ASSETS

678,917

5,101,122

TOTAL ASSETS LESS CURRENT LIABILITIES

694,442

5,127,940

PROVISIONS FOR LIABILITIES

(57,106

)

(66,512

)

NET ASSETS

637,336

5,061,428

CAPITAL AND RESERVES

Called up share capital

9

35

35

Capital redemption reserve

-

65

Other reserves

353,585

374,534

Retained earnings

283,716

4,686,794

SHAREHOLDERS' FUNDS

637,336

5,061,428

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 7 May 2026 and were signed on its behalf by:

C Hobbs - Director

1.	STATUTORY INFORMATION

ES Risks 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.

The financial statements are presented in Pounds Sterling which is the functional currency of the company.

Going Concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents commission and fees earned.

Revenue recognition

Credit is taken for commission at the point at which placement services are substantially complete. Commissions on adjustment premiums, binding authorities and treaties are recognised when revenue is confirmed as earned. Fees charged for services are recognised when earned.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

33% on cost

Fixture & fittings

20% on cost

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income Statement.

Taxation

Taxation for the period 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 period 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The Company operates a defined contribution pension scheme. Contributions payable to the Company's pension scheme are charged to the profit and loss account in the period to which they relate.

Other fixed assets investment

Investments held as fixed assets are shown at historic cost less any provisions for impairment.

Insurance broking debtors and creditors

Insurance intermediaries act as agents in the placement of insurable risks. As such, they are not liable, as principal, for amounts arising from such transactions. In recognition of this relationship, debtors from insurance intermediary transactions are not included as an asset of the Company. Other than the receivable for brokerage, commissions, or fees earned on a transaction, no recognition of the insurance transaction occurs until the Company receives cash in respect of the premiums or claims. At that point, a corresponding liability is established in favour of the insurer or the cedant, unless the cash is held in trust, in which case neither the cash nor the corresponding liability is reflected in the Company's financial statements.

Cash and cash equivalents

Cash and cash equivalents are included in the balance sheet at cost. Cash and cash equivalents comprise of cash within the bank.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 24 (2024 - 31 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 October 2024

and 31 December 2025

176,245

AMORTISATION

At 1 October 2024

163,512

Charge for period

9,237

At 31 December 2025

172,749

NET BOOK VALUE

At 31 December 2025

3,496

At 30 September 2024

12,733

5.	TANGIBLE FIXED ASSETS

Fixtures

Computer

and

equipment

fittings

Totals

£

£

£

COST

At 1 October 2024

155,135

126,495

281,630

Additions

5,137

-

5,137

At 31 December 2025

160,272

126,495

286,767

DEPRECIATION

At 1 October 2024

146,896

124,866

271,762

Charge for period

6,126

1,067

7,193

At 31 December 2025

153,022

125,933

278,955

NET BOOK VALUE

At 31 December 2025

7,250

562

7,812

At 30 September 2024

8,239

1,629

9,868

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 October 2024

and 31 December 2025

4,217

NET BOOK VALUE

At 31 December 2025

4,217

At 30 September 2024

4,217

The company has the following investments in subsidiaries:

Country of Incorporation

Class of shares held

Ownership

2025

2024

ES Risks Europe EPE

Greece

Ordinary

99%

99%

In the opinion of the Directors, the value of the Company's unlisted investments are not less than the amount included in the balance sheet.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

30.9.24

£

£

Trade debtors

46,518

91,643

Accrued income

9,937

89,320

Amounts owed by group undertakings

217,439

4,437,265

Other debtors

7,500

-

Insurance money

11,009,643

9,611,504

Insurance debtors

-

2,358,709

Tax

7,000

-

Deferred tax asset

14

9,136

Prepayments

62,821

47,924

11,360,872

16,645,501

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

30.9.24

£

£

Trade creditors

7,234

-

Amounts owed to group undertakings

-

586,693

Taxation and social security

89,051

36,760

Other creditors

11,353,808

11,871,028

11,450,093

12,494,481

Included within other creditors is an amount of £10,640,844 (2024: £11,586,878) that relates to insurance creditors.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.25

30.9.24

value:

£

£

35

Ordinary A

£1

35

35

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11.	ULTIMATE CONTROLLING PARTY

The company's immediate parent company is ESR Hold Co Limited, a company incorporated in the United Kingdom and registered in England and Wales, which acquired the shares on 16th May 2025.

The previous controlling party was Howden UK&I Holdings Limited which transferred the shares on 16th May 2025.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of ES Risks Limited for the period ended 31 December 2025 which comprise the Income Statement, Balance Sheet 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of ES Risks Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of ES Risks Limited and state those matters that we have agreed to state to the Board of Directors of ES Risks Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ES Risks Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that ES Risks Limited 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 profit of ES Risks Limited. You consider that ES Risks Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of ES Risks 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 financial statements.

ansteybond

1-2 Charterhouse Mews

London

EC1M 6BB

7 May 2026