TRAFALGAR RISK MANAGEMENT LIMITED

TRAFALGAR RISK MANAGEMENT LIMITED - Company Information

2021-07-012022-06-302022-06-30false03876370TRAFALGAR RISK MANAGEMENT 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Registered Number
03876370
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2022

TRAFALGAR RISK MANAGEMENT LIMITED

Company Information
for the year from 1 July 2021 to 30 June 2022


Directors	CRAMPHORN, Timothy George
	WHEAT, Kelvin Robert John


Registered Address	2nd Floor Grove House
	55 Lowlands Road
	Harrow
	HA1 3AW


Registered Number	03876370 (England and Wales)

TRAFALGAR RISK MANAGEMENT LIMITED

Balance Sheet as at
30 June 2022

	Notes	2022		2021
		£	£	£	£
Fixed assets
Tangible assets	5		1,766		1,599
			1,766		1,599
Current assets
Debtors	8	6,877		115,108
Cash at bank and on hand		213,631		286,285
		220,508		401,393
Creditors amounts falling due within one year	9	(170,996)		(335,110)
Net current assets (liabilities)			49,512		66,283
Total assets less current liabilities			51,278		67,882
Provisions for liabilities	10		(70)		-
Net assets			51,208		67,882
Capital and reserves
Called up share capital			100		100
Profit and loss account			51,108		67,782
Shareholders' funds			51,208		67,882

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Board of Directors on 31 March 2023, and are signed on its behalf by:

CRAMPHORN, Timothy George
Director
Registered Company No. 03876370

TRAFALGAR RISK MANAGEMENT LIMITED

Notes to the Financial Statements
for the year ended 30 June 2022

1.	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Compliance with applicable reporting framework
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3.	Accounting policies

	Functional and presentation currency policy
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover represents the value of commission receipts from insurance related activities.

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Office Equipment	3

	Taxation policy
	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 policy
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax policy

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Leases policy
	Rentals payable under operating lease, including any lease incentive received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative time pattern in which economic benefits from the lease asset are consumed.

	Valuation of financial instruments policy
	Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 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. Basic financial liabilities: Basic financial liabilities, including creditors and bank loans 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts 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 amortized cost using the effective interest method.

Valuation of financial instruments policy

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Basic financial liabilities:
Basic financial liabilities, including creditors and bank loans 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 payments discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary
course of business from suppliers. Amounts 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 amortized cost using the effective interest method.

4.	Employee information


		2022		2021
	Average number of employees during the year	4		4

5.	Property, plant and equipment

	Plant & machinery	Office Equipment	Total
	£	£	£
Cost or valuation
At 01 July 21	32,071	151,886	183,957
Additions	-	1,449	1,449
At 30 June 22	32,071	153,335	185,406
Depreciation and impairment
At 01 July 21	32,071	150,287	182,358
Charge for year	-	1,282	1,282
At 30 June 22	32,071	151,569	183,640
Net book value
At 30 June 22	-	1,766	1,766
At 30 June 21	-	1,599	1,599

6.	Description of financial commitments other than capital commitments
	Minimum lease payments under non-cancellable operating leases fall due as follows: Within one year £4,642(2021: £4,642) Between one and five years: £5,803(2021: £10,445)

7.	Description of nature of transactions and balances with related parties
	During the year, total dividends of £66,000(2021: £66,000) were paid to the directors. The company is under the control of the directors by virtue of their shareholdings.

8.	Debtors

	2022	2021
	£	£
Trade debtors / trade receivables	-	76,179
Other debtors	2,677	35,020
Prepayments and accrued income	4,200	3,909
Total	6,877	115,108

9.	Creditors within one year

	2022	2021
	£	£
Trade creditors / trade payables	150,818	-
Taxation and social security	13,853	60,754
Other creditors	6,325	245,536
Accrued liabilities and deferred income	-	28,820
Total	170,996	335,110

10.	Provisions for liabilities

	2022	2021
	£	£
Net deferred tax liability (asset)	70	-
Total	70	-