ACCOUNTS - Final Accounts

UMBRELLA RISK MANAGEMENT (UK) LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31No description of principal activityfalse2022-04-0122falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03596287 2022-04-01 2023-03-31 03596287 2021-04-01 2022-03-31 03596287 2023-03-31 03596287 2022-03-31 03596287 c:Director2 2022-04-01 2023-03-31 03596287 d:CurrentFinancialInstruments 2023-03-31 03596287 d:CurrentFinancialInstruments 2022-03-31 03596287 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03596287 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 03596287 d:ShareCapital 2023-03-31 03596287 d:ShareCapital 2022-03-31 03596287 d:RetainedEarningsAccumulatedLosses 2023-03-31 03596287 d:RetainedEarningsAccumulatedLosses 2022-03-31 03596287 c:OrdinaryShareClass1 2022-04-01 2023-03-31 03596287 c:OrdinaryShareClass1 2023-03-31 03596287 c:OrdinaryShareClass1 2022-03-31 03596287 c:FRS102 2022-04-01 2023-03-31 03596287 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 03596287 c:FullAccounts 2022-04-01 2023-03-31 03596287 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03596287

UMBRELLA RISK MANAGEMENT (UK) LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

UMBRELLA RISK MANAGEMENT (UK) LIMITED

REGISTERED NUMBER: 03596287

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2023

		2023		2022
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	11,863		25,136
Cash at bank and in hand	5	336,376		61,676
		348,239		86,812
Creditors: amounts falling due within one year	6	(294,788)		(42,517)
Net current assets			53,451		44,295
Total assets less current liabilities			53,451		44,295

Net assets			53,451		44,295

Capital and reserves
Called up share capital	7	1	1
Profit and loss account		53,450	44,294
		53,451	44,295

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UMBRELLA RISK MANAGEMENT (UK) LIMITED

REGISTERED NUMBER: 03596287

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 September 2023.

Mr N J Carter

Director

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

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UMBRELLA RISK MANAGEMENT (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

1.	General information

Umbrella Risk Management (UK) Limited is a company domiciled in England and Wales, registration number 03596287. The registered office is Dodwell House, Chilton Business Centre, Chilton, Bucks, HP18 9LS.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

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UMBRELLA RISK MANAGEMENT (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Debtors

					2023	2022
					£	£


Trade debtors	4,800	25,135
Other debtors	7,062	-
Called up share capital not paid	1	1
	11,863	25,136

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UMBRELLA RISK MANAGEMENT (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

5.	Cash and cash equivalents
		2023	2022
		£	£

Cash at bank and in hand	336,376	61,676
	336,376	61,676

6.	Creditors: Amounts falling due within one year
		2023	2022
		£	£

Trade creditors	-	19,676
Amounts owed to group undertakings	244,670	5,485
Other taxation and social security	25,459	5,364
Other creditors	3,518	5,150
Accruals and deferred income	21,141	6,842
	294,788	42,517

7.	Share capital
		2023	2022
		£	£

Allotted, called up and fully paid

1 (2022 - 1) Ordinary share of £1.00	1	1

8.	Controlling party

The directors consider that Umbrella Holdings Limited, a company registered in England and Wales, is the ultimate parent company.
The company was controlled during the current and previous period by Umbrella Holdings Limited by virtue of the fact that the company owns 100% of the ordinary share capital of the company.
The registered office of Umbrella Holdings Limited is Dodwell House, Chilton Business Centre, Chilton, Buckinghamshire, HP18 9LS.

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