Company registration number 10907409 (England and Wales)
RISKBRIDGE ASSOCIATES LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
RISKBRIDGE ASSOCIATES LTD
COMPANY INFORMATION
Directors
R. Dornton-Duff
A. Dornton-Duff
Company number
10907409
Registered office
The Old Stables
Levington Road
Nacton
Ipswich
IP10 0EL
Auditor
BG Audit LLP
Statutory Auditors
7 Three Rivers Business Park
Felixstowe Road, Foxhall
IPSWICH
IP10 0BF
Business address
Birchin Court
20 Birchin Lane
London
EC3V 9DU
RISKBRIDGE ASSOCIATES LTD
CONTENTS
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 6
Statement of comprehensive income
7
Balance sheet
8
Statement of changes in equity
9
Statement of cash flows
10
Notes to the financial statements
11 - 22
RISKBRIDGE ASSOCIATES LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

The directors of Riskbridge Associates Ltd are pleased to present their strategic report for the year ending 31 st December 2025, prepared in accordance with Chapter 4A of the Companies Act 2006.

Fair review of the business

The directors consider the key performance indicators of the company to be Turnover and Administrative Expenses. Riskbridge’s Turnover decreased 23.9% year-on-year to £335,054, driven primarily by difficult trading conditions in certain sectors resulting in the cancellation of major projects. Administrative Expenses rose 21.5% year-on-year to £148,284 due to staffing level fluctuations, giving a decrease in net profit of 43.8%. Riskbridge’s Total Equity at year end reduced 24.6% year-on-year to £170,899, with dividends reduced commensurate with the falloff in net profit. No key events occurred during the year.

Principal risks and uncertainties

Staffing. As a client service firm, Riskbridge is dependent on its ability to attract and retain high quality advisory staff. Riskbridge competes primarily with investment banks for such staff, and the market for suitable staff at more junior levels remains highly competitive. The Directors will continue to consider resourcing strategy as a priority as the company’s growth plan is executed.

Regulatory. Riskbridge’s core business will remain dependant on its ability to maintain FCA authorisation. Riskbridge employs external IT and consultancy services in order to assist in meeting its regulatory obligations.

Capital adequacy. As a regulated firm, Riskbridge is required to maintain a level of regulatory capital at all times. Under the UK Investment Firms Prudential Regime (“IFPR”), Riskbridge is considered a “small and non-interconnected investment firm (“SNI”) with an Own Funds Requirement of £75,000. Under transitional arrangements, the Own Funds Requirement is £65,000 for year ending December 2025 rising by £5,000k annually. Riskbridge will need to maintain an adequate buffer over the minimum requirement, in addition to incremental capital to support its projected growth. The Company’s reserves remain at a very healthy level, and the Directors will continue to monitor capital and dividend policy proactively.

Development and performance

The directors review the company’s strategic plan annually, taking into account both the short- and long-term interest of the shareholders, as required by Section 172 of the Companies Act 2006. The directors’ primary objective for the foreseeable future is to promote continued growth of the core business.

Key performance indicators

The directors consider the key performance indicators of the company to be Turnover and Administrative Expenses.

On behalf of the board

R. Dornton-Duff
Director
27 April 2026
RISKBRIDGE ASSOCIATES LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -

The directors present their annual report and financial statements for the year ended 31 December 2025.

Principal activities

The principal activity of the company is that of financial services.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

R. Dornton-Duff
A. Dornton-Duff
Results and dividends

The results for the year are set out on page 7.

Ordinary dividends were paid amounting to £190,000. The directors do not recommend payment of a final dividend.

Auditor

The auditor, BG Audit LLP, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

On behalf of the board
R. Dornton-Duff
Director
27 April 2026
RISKBRIDGE ASSOCIATES LTD
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

RISKBRIDGE ASSOCIATES LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF RISKBRIDGE ASSOCIATES LTD
- 4 -
Opinion

We have audited the financial statements of Riskbridge Associates Ltd (the 'company') for the year ended 31 December 2025 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

RISKBRIDGE ASSOCIATES LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF RISKBRIDGE ASSOCIATES LTD
- 5 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to Financial Conduct Authority regulatory requirements, and considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that impact directly on the preparation of the financial statements including the Companies Act, and UK tax legislation.

We considered managements incentives and opportunities for fraudulent adjustments to the financial statements including override of controls and determined that the principal risks were related to inappropriate journal entries or fraudulent transactions that would result in the manipulation of profits.

Audit procedures included:

- Making enquiries of management for known or suspected instances of fraud or non-compliance with laws and regulations.

- Consideration of management’s procedures for detecting and preventing fraud, including controls.

- Reviewing journal entries to identify material or unusual transactions

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation

RISKBRIDGE ASSOCIATES LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF RISKBRIDGE ASSOCIATES LTD
- 6 -

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Jonathan Oakley FCA (Senior Statutory Auditor)
For and on behalf of BG Audit LLP
27 April 2026
Statutory Auditor
7 Three Rivers Business Park
Felixstowe Road, Foxhall
IPSWICH
IP10 0BF
RISKBRIDGE ASSOCIATES LTD
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
2025
2024
Notes
£
£
Turnover
3
335,054
440,379
Administrative expenses
(148,284)
(122,008)
Operating profit
4
186,770
318,371
Interest receivable and similar income
8
203
509
Interest payable and similar expenses
9
(8,376)
-
0
Profit before taxation
178,597
318,880
Tax on profit
10
(44,369)
(80,495)
Profit for the financial year
134,228
238,385

The profit and loss account has been prepared on the basis that all operations are continuing operations.

RISKBRIDGE ASSOCIATES LTD
BALANCE SHEET
AS AT 31 DECEMBER 2025
31 December 2025
- 8 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
13
50,206
66,398
Current assets
Debtors
15
23,992
127,669
Cash at bank and in hand
208,156
178,255
232,148
305,924
Creditors: amounts falling due within one year
16
(68,111)
(92,648)
Net current assets
164,037
213,276
Total assets less current liabilities
214,243
279,674
Creditors: amounts falling due after more than one year
17
(42,378)
(50,533)
Provisions for liabilities
(966)
(2,470)
Net assets
170,899
226,671
Capital and reserves
Called up share capital
21
50,100
50,100
Profit and loss reserves
120,799
176,571
Total equity
170,899
226,671
The financial statements were approved by the board of directors and authorised for issue on 27 April 2026 and are signed on its behalf by:
R. Dornton-Duff
Director
Company Registration No. 10907409
RISKBRIDGE ASSOCIATES LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 9 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 January 2024
50,100
208,758
258,858
Year ended 31 December 2024:
Profit and total comprehensive income for the year
-
238,385
238,385
Dividends
11
-
(270,572)
(270,572)
Balance at 31 December 2024
50,100
176,571
226,671
Year ended 31 December 2025:
Profit and total comprehensive income for the year
-
134,228
134,228
Dividends
11
-
(190,000)
(190,000)
Balance at 31 December 2025
50,100
120,799
170,899
RISKBRIDGE ASSOCIATES LTD
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 10 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
26
312,275
351,082
Interest paid
(8,376)
-
0
Income taxes paid
(78,185)
(71,887)
Net cash inflow from operating activities
225,714
279,195
Investing activities
Purchase of tangible fixed assets
(826)
(56,250)
Receipts arising from loans made
527
(527)
Interest received
203
509
Net cash used in investing activities
(96)
(56,268)
Financing activities
Payment of finance leases obligations
(5,717)
56,250
Dividends paid
(190,000)
(270,572)
Net cash used in financing activities
(195,717)
(214,322)
Net increase in cash and cash equivalents
29,901
8,605
Cash and cash equivalents at beginning of year
178,255
169,650
Cash and cash equivalents at end of year
208,156
178,255
RISKBRIDGE ASSOCIATES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 11 -
1
Accounting policies
Company information

Riskbridge Associates Ltd is a private company limited by shares incorporated in England and Wales. The company number is 10907409. The registered office is The Old Stables, Levington road, Nacton, Ipswich IP10 0EL.

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Domain
4 years straight line
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

RISKBRIDGE ASSOCIATES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 12 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers and other equipment
25% straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Cash at bank and in hand

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.

1.8
Financial instruments
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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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 is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

RISKBRIDGE ASSOCIATES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 13 -
Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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 paymen ts 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. A m ounts 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.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
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.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

RISKBRIDGE ASSOCIATES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 14 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.14
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

RISKBRIDGE ASSOCIATES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 15 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Sales
335,054
440,379
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
104,293
125,177
Rest of the world
230,761
315,202
335,054
440,379
2025
2024
£
£
Other revenue
Interest income
203
509
4
Operating profit
2025
2024
Operating profit for the year is stated after charging/(crediting):
£
£
Exchange (gains)/losses
(1,579)
7,043
Depreciation of tangible fixed assets
17,018
3,691
Operating lease charges
30,370
29,040
5
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
2,250
1,975
For other services
All other non-audit services
-
0
1,230
RISKBRIDGE ASSOCIATES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 16 -
6
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
3
3

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
43,089
25,683
Social security costs
(122)
796
Pension costs
1,123
-
0
44,090
26,479
7
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
25,140
25,140
8
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
149
37
Other interest income
54
472
Total income
203
509
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
149
37
9
Interest payable and similar expenses
2025
2024
£
£
Other finance costs
Interest on finance leases and hire purchase contracts
8,376
-
RISKBRIDGE ASSOCIATES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 17 -
10
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
45,895
78,316
Adjustments in respect of prior periods
(21)
-
0
Total current tax
45,874
78,316
Deferred tax
Origination and reversal of timing differences
(1,505)
2,179
Total tax charge
44,369
80,495

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
178,597
318,880
Expected tax charge based on the standard rate of corporation tax in the UK of 25% (2024: 25%)
44,649
79,720
Effects of:
Expenses that are not deductible in determining taxable profit
681
775
Tax under/(over) provided in prior years
(21)
-
0
Tax at marginal rate
(940)
-
0
Taxation charge in the financial statements
44,369
80,495
11
Dividends
2025
2024
£
£
Interim paid
190,000
270,572
RISKBRIDGE ASSOCIATES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 18 -
12
Intangible fixed assets
Domain
£
Cost
At 1 January 2025 and 31 December 2025
3,945
Amortisation and impairment
At 1 January 2025 and 31 December 2025
3,945
Carrying amount
At 31 December 2025
-
0
At 31 December 2024
-
0
13
Tangible fixed assets
Computers
Motor vehicles
Total
£
£
£
Cost
At 1 January 2025
14,967
79,240
94,207
Additions
826
-
0
826
At 31 December 2025
15,793
79,240
95,033
Depreciation and impairment
At 1 January 2025
13,912
13,897
27,809
Depreciation charged in the year
682
16,336
17,018
At 31 December 2025
14,594
30,233
44,827
Carrying amount
At 31 December 2025
1,199
49,007
50,206
At 31 December 2024
1,055
65,343
66,398

Included within tangible fixed assets are assets held under finance leases or hire purchase contracts, as follows:

2025
2024
£
£
Motor vehicles
42,188
56,250
RISKBRIDGE ASSOCIATES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 19 -
14
Financial instruments
2025
2024
£
£
Carrying amount of financial assets
Debt instruments measured at amortised cost
17,636
119,526
Carrying amount of financial liabilities
Measured at amortised cost
57,117
57,750
15
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
11,588
112,951
Other debtors
6,048
6,575
Prepayments and accrued income
6,356
8,143
23,992
127,669
16
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Obligations under finance leases
18
8,155
5,717
Corporation tax
45,895
78,207
Other taxation and social security
7,477
7,224
Other creditors
1,411
-
0
Accruals and deferred income
5,173
1,500
68,111
92,648

Hire purchase liabilities of £8,155 (2024: £5,717) are secured on the assets to which they relate.

17
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Obligations under finance leases
18
42,378
50,533

Hire purchase liabilities of £42,378 (2024: £50,533) are secured on the assets to which they relate.

RISKBRIDGE ASSOCIATES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 20 -
18
Finance lease obligations
2025
2024
Amounts due:
£
£
Within one year
8,155
5,717
After more than one year
42,378
50,533
50,533
56,250
2025
2024
Future minimum lease payments due:
£
£
Within one year
8,155
5,717
In two to five years
42,378
50,533
50,533
56,250

Finance lease payments represent rentals payable by the company for a motor vehicle. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 3 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

19
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
966
2,470
2025
Movements in the year:
£
Liability at 1 January 2025
2,470
Credit to profit or loss
(1,504)
Liability at 31 December 2025
966

The deferred tax asset set out above is expected to reverse within 12 months and relates to the utilisation of tax losses against future expected profits of the same period.

RISKBRIDGE ASSOCIATES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 21 -
20
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
1,123
-

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

21
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
45,591
45,591
45,591
45,591
Ordinary B shares of £1 each
4,509
4,509
4,509
4,509
50,100
50,100
50,100
50,100
22
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within 1 year
-
0
7,560
-
0
7,560
23
Related party transactions
Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2025
2024
£
£
Aggregate compensation
25,538
25,140
24
Directors' transactions

During the year the director received advances of £127,111 (2024: 116,588) and made repayments of £127,637 (2024: £116,061). Interest of £47 has been charged (2024: £471). At the year end the company owed £1,411 to the director (2024: the director owed the company £527).

RISKBRIDGE ASSOCIATES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 22 -
25
Ultimate controlling party

The ultimate controlling party is Mr R Dorton-Duff, the majority shareholder.

26
Cash generated from operations
2025
2024
£
£
Profit after taxation
134,228
238,385
Adjustments for:
Taxation charged
44,369
80,495
Finance costs
8,376
-
0
Investment income
(203)
(509)
Depreciation and impairment of tangible fixed assets
17,018
3,691
Movements in working capital:
Decrease in debtors
103,150
38,199
Increase/(decrease) in creditors
5,337
(9,179)
Cash generated from operations
312,275
351,082
27
Analysis of changes in net funds
1 January 2025
Cash flows
31 December 2025
£
£
£
Cash at bank and in hand
178,255
29,901
208,156
Lease liabilities
(56,250)
5,717
(50,533)
122,005
35,618
157,623
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