Riskstop Consulting Limited Filleted accounts for Companies House (small and micro)

Riskstop Consulting Limited Filleted accounts for Companies House (small and micro)

RISKSTOP CONSULTING LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 06609089
Riskstop Consulting Limited
Filleted Financial Statements
31 December 2020
Riskstop Consulting Limited
Financial Statements
Year ended 31 December 2020
Contents
Pages
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
3 to 6
Riskstop Consulting Limited
Officers and Professional Advisers
The board of directors
D Lillington
T Smith
Registered office
The Pavilion
Botleigh Grange Business Park
Hedge End
Southampton
Hampshire
SO30 2AF
Auditor
BSN Associates Limited
Chartered Accountants & statutory auditor
3B Swallowfield Courtyard
Wolverhampton Road
Oldbury
West Midlands
B69 2JG
Riskstop Consulting Limited
Statement of Financial Position
31 December 2020
2020
2019
Note
£
£
£
Current assets
Debtors
5
112,460
152,898
Cash at bank and in hand
340
604
---------
---------
112,800
153,502
Creditors: amounts falling due within one year
6
80,495
119,497
---------
---------
Net current assets
32,305
34,005
--------
--------
Total assets less current liabilities
32,305
34,005
--------
--------
Net assets
32,305
34,005
--------
--------
Capital and reserves
Called up share capital
8
1
1
Profit and loss account
9
32,304
34,004
--------
--------
Shareholders funds
32,305
34,005
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 15 September 2021 , and are signed on behalf of the board by:
D Lillington
Director
Company registration number: 06609089
Riskstop Consulting Limited
Notes to the Financial Statements
Year ended 31 December 2020
1. General information
The company is limited by shares and was incorporated in England and Wales. The company's place of business is Mey House, Bridgport Road, Poundbury, Dorchester, Dorset, DT1 3QY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on the assumption that the company is able to carry on business as a going concern since the directors are not aware of any reason why the company cannot meet its anticipated future financial obligations as its parent company has undertaken to provide continuing financial support to the company to enable it to fund its day to day working capital and capital expenditure requirements.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Riskstop Group Limited. As such, advantage has been taken of the following disclosure exemptions available under FRS 102: - No cash flow statement has been presented for the company - Disclosures in respect of financial instruments have not been presented - No disclosure has been given for the aggregate remuneration of key management personnel.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. No significant estimates or judgements have been made in the year.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered for the provision of staff resources, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the 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.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Particulars of employees
The average number of persons employed by the company during the year amounted to 21 (2019: 18 ).
5. Debtors
2020
2019
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
96,627
152,898
Other debtors
15,833
–
---------
---------
112,460
152,898
---------
---------
6. Creditors: amounts falling due within one year
2020
2019
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
16,593
16,613
Social security and other taxes
62,280
101,038
Other creditors
1,622
1,846
--------
---------
80,495
119,497
--------
---------
7. Government grants
The amounts recognised in the financial statements for government grants are as follows:
2020
2019
£
£
Recognised in other operating income:
Government grants recognised directly in income
193,957
–
---------
----
8. Called up share capital
Issued, called up and fully paid
2020
2019
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
1
1
----
----
----
----
9. Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses.
10. Summary audit opinion
The auditor's report for the year dated 15 September 2021 was unqualified.
The senior statutory auditor was Hannah Justice FCA FCCA , for and on behalf of BSN Associates Limited .
11. Related party transactions
Under FRS 102 the company is exempt from disclosing transactions with fellow group companies on the basis that consolidated accounts are prepared which are publicly available.
12. Controlling party
The ultimate parent company is Riskstop Group Limited, a company registered in England & Wales. The registered address of Riskstop Group Limited is The Pavilion, Botleigh Grange Business Park, Hedge End, Southampton, SO30 2AF.