ACCOUNTS - Final Accounts preparation

ASHFIELD RISK TRANSFER SOLUTIONS LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-310falsefalse2022-06-01the provision of environmental insurance0trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10226137 2022-06-01 2023-05-31 10226137 2021-06-01 2022-05-31 10226137 2023-05-31 10226137 2022-05-31 10226137 c:Director1 2022-06-01 2023-05-31 10226137 d:CurrentFinancialInstruments 2023-05-31 10226137 d:CurrentFinancialInstruments 2022-05-31 10226137 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 10226137 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 10226137 d:ShareCapital 2023-05-31 10226137 d:ShareCapital 2022-05-31 10226137 d:RetainedEarningsAccumulatedLosses 2023-05-31 10226137 d:RetainedEarningsAccumulatedLosses 2022-05-31 10226137 c:FRS102 2022-06-01 2023-05-31 10226137 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 10226137 c:FullAccounts 2022-06-01 2023-05-31 10226137 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure

Registered number: 10226137

ASHFIELD RISK TRANSFER SOLUTIONS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2023

ASHFIELD RISK TRANSFER SOLUTIONS LIMITED

REGISTERED NUMBER: 10226137

BALANCE SHEET

AS AT 31 MAY 2023

		2023		2022
Note		£		£


Current assets
Debtors: amounts falling due within one year	3	11,825		13,824
Cash at bank and in hand	4	3,072		2,179
		14,897		16,003
Creditors: amounts falling due within one year	5	(14,609)		(12,937)
Net current assets			288		3,066
Total assets less current liabilities			288		3,066

Net assets			288		3,066

Capital and reserves
Called up share capital	10	10
Profit and loss account	278	3,056
	288	3,066

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ASHFIELD RISK TRANSFER SOLUTIONS LIMITED

REGISTERED NUMBER: 10226137

BALANCE SHEET (CONTINUED)

AS AT 31 MAY 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 comprehensive income 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 29 February 2024.

Andrew Haydn Pullman

Director

The notes on pages 3 to 6 form part of these financial statements.

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ASHFIELD RISK TRANSFER SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

1.	General information

Ashfield Risk Transfer Solutions Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 10226137 and registered office address is Cwm Cynon Business Centre, Cwm Cynon Business Park, Mountain Ash, CF45 4ER.
The presentation currency of the financial statements is the Pound Sterling (£).

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.

2.2

Related party exemptions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

2.3

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make
judgements, estimates and assumptions about the carrying amounts 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 which 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 if the revision only
effects that period, or in the period of the revision and future periods if the revision affects both
current and future periods.
The following are the critical judgements that the directors have made in the process of applying the
company's accounting policies and that have the most significant effect on the amounts recognised in
the financial statements.
Impairment of assets
Assets are assessed for indicators of impairment at each statement of financial position date. If there
is objective evidence of impairment, an impairment loss is recognised in the income statement.
Stock provisions
Stock holdings are assessed for indicators of obsolescence at each statement of financial position
date. If there is objective evidence of obsolescence, a provision is recognised in the income
statement.
Provisions and contingencies
Provisions are recognised when the company has a present obligation as a result of a past event and
a reliable estimate can be made of a probable adverse outcome. Otherwise, material contingent
liabilities are disclosed unless a transfer of economic benefits is considered remote. Contingent
assets are only disclosed if an inflow of economic benefits is probable.

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ASHFIELD RISK TRANSFER SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

2.4

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.5

Going concern

In preparing the financial statements, the directors have considered the current financial position of
the company and likely future cash flows.
After making appropriate enquiries and reviewing the company's forecasts, examining those areas
which could give rise to financial exposure, the directors have a reasonable expectation that the
company has adequate resources to continue in operational existence for the foreseeable future.
Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

2.6

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the
contractual provisions of the instrument.
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.

2.7

Financial assets and liabilities

All financial assets and liabilities are initially measured at transaction price (including transaction
costs), except for those financial assets classified as at fair value through profit or loss, which are
initially measured at fair value (which is normally the transaction price excluding transaction costs),
unless the arrangement constitutes a financing transaction. If an arrangement constitutes a finance
transaction, the financial asset or financial liability is measured at the present value of the future
payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments that are classified as payable or receivable within one year are measured at the
undiscounted amount of the cash or other consideration expected to be paid or received, net of
impairment. Non current debt instruments are measured at amortised cost using the effective interest
method.
Financial assets are derecognised when and only when the contractual rights to the cash flows from
the financial asset expire or are settled, the company transfers to another party substantially all of the
risks and rewards of ownership of the financial asset, or the company, despite having retained some
significant risks and rewards of ownership, has transferred control of the asset to another party and
the other party has the practical ability to sell the asset in its entirety to an unrelated third party and is
able to exercise that ability unilaterally and without needing to impose additional restrictions on the
transfer.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged,
cancelled or expires.

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ASHFIELD RISK TRANSFER SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

2.8

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,
except to the extent that it relates to items recognised in other comprehensive income or directly in
equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been
enacted or substantively enacted by the balance sheet date.

2.9

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at
the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods
different from those in which they are recognised in financial statements. Deferred tax is measured
using tax rates and laws that have been enacted or substantively enacted by the year end and that
are expected to apply to the reversal of the timing difference.
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.

Debtors

					2023	2022
					£	£


Amounts owed by group undertakings	11,825	13,824
	11,825	13,824

4.	Cash and cash equivalents
		2023	2022
		£	£

Cash at bank and in hand	3,072	2,179
	3,072	2,179

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ASHFIELD RISK TRANSFER SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

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

Trade creditors	359	8
Amounts owed to group undertakings	4,865	4,865
Corporation tax	3,905	2,784
Accruals and deferred income	5,480	5,280
	14,609	12,937

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