Icarus Risk Systems Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 08650899

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		706		932

			706		932
CURRENT ASSETS
Debtors	5	1,214,887		1,038,955
Cash at bank and in hand		359,059		423,376

		1,573,946		1,462,331
Creditors: Amounts Falling Due Within One Year	6	(44,677 )		(56,973 )

NET CURRENT ASSETS (LIABILITIES)			1,529,269		1,405,358

TOTAL ASSETS LESS CURRENT LIABILITIES			1,529,975		1,406,290

NET ASSETS			1,529,975		1,406,290

CAPITAL AND RESERVES
Called up share capital	7		100		100
Profit and Loss Account			1,529,875		1,406,190

SHAREHOLDERS' FUNDS			1,529,975		1,406,290

Page 1

Page 2

Icarus Risk Systems Limited

Balance Sheet (continued)

As At 31 October 2025

For the year ending 31 October 2025 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 in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Dr David Embrey

Director

22/07/2026

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Icarus Risk Systems Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08650899 . The registered office is 1 School House, Higher Lane, Dalton, Lancs, WN8 7RP.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Revenue recognition

Turnover from the rendering of services 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.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	33% reducing balance
Computer Equipment	20% reducing balance

2.4. Financial Instruments

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classified as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: NIL)

Page 3

Page 4

Icarus Risk Systems Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

4. Tangible Assets

	Plant & Machinery	Computer Equipment	Total
	£	£	£
Cost
As at 1 November 2024	36,326	5,792	42,118

As at 31 October 2025	36,326	5,792	42,118

Depreciation
As at 1 November 2024	36,030	5,156	41,186
Provided during the period	99	127	226

As at 31 October 2025	36,129	5,283	41,412

Net Book Value
As at 31 October 2025	197	509	706

As at 1 November 2024	296	636	932

5. Debtors

	2025	2024
	£	£
Due within one year
Loan to HRA	1,214,587	1,038,652
VAT	300	303

	1,214,887	1,038,955

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	-	(1 )
Corporation tax	41,304	55,474
Other taxes and social security	1,341	-
Pension Payable	532	-
Accruals and deferred income	1,500	1,500

	44,677	56,973

7. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

Page 4

Page 5

Icarus Risk Systems Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

8. Related Party Transactions

The company was under the control of the directors throughout the current and previous year. Dr D Embrey is the managing director and a shareholder of the company. At the balance sheet date HRA owed Icarus Risk Systems Ltd £1,214,587.05 (PY:£1,038,651.56).

Page 5