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REGISTERED NUMBER:
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DTE RISK AND FINANCIAL MANAGEMENT |
LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2017 |
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REGISTERED NUMBER:
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DTE RISK AND FINANCIAL MANAGEMENT |
LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2017 |
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DTE RISK AND FINANCIAL MANAGEMENT |
LIMITED (REGISTERED NUMBER: 01967512) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2017 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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DTE RISK AND FINANCIAL MANAGEMENT |
LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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BANKERS: |
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40 The Rock |
Bury |
Lancashire |
BL9 0NX |
DTE RISK AND FINANCIAL MANAGEMENT |
LIMITED (REGISTERED NUMBER: 01967512) |
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STATEMENT OF FINANCIAL POSITION |
30 APRIL 2017 |
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2017 | 2016 |
Notes | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
DTE RISK AND FINANCIAL MANAGEMENT |
LIMITED (REGISTERED NUMBER: 01967512) |
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STATEMENT OF FINANCIAL POSITION - continued |
30 APRIL 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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DTE RISK AND FINANCIAL MANAGEMENT |
LIMITED (REGISTERED NUMBER: 01967512) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2017 |
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1. | STATUTORY INFORMATION |
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DTE Risk and Financial Management Limited is a private company, limited by shares, registered in England and |
Wales, registration number 01967512. The registered office is The Exchange, 5 Bank Street, Bury, BL9 0DN. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The company has transitioned to Financial Reporting Standard 102 Section 1A applicable to Small Entities and |
the Companies Act 2006 from UK Generally Accepted Accounting Practice. The date of transition is 1 May |
2015. There have not been any changes to the figures as a result of the transition. The accounting policies which |
follow set out those policies which apply in preparing the financial statements for the year ended 30 April 2017. |
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The directors have considered the business risks and believe that the company is well placed to manage these |
risks successfully, thus the going concern basis of accounting has been adopted in preparing these financial |
statements. |
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Preparation of consolidated financial statements |
The financial statements contain information about DTE Risk and Financial Management Limited as an |
individual company and do not contain consolidated financial information as the parent of a group. The company |
has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial |
statements. |
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Significant judgements and estimates |
In the application of the company's accounting policies, the directors are required to make estimates and |
judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ |
from these estimates. |
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The estimates are continuously evaluated. Revisions to accounting estimates are recognised in the period in |
which the estimate is revised. |
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The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying |
amount of assets and liabilities are outlined below. |
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Making judgement based on knowledge of the customer on the level of provision required for any provision for |
bad debts. Further information received after the balance sheet date may impact on the level of provision |
required. |
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Making judgements in respect of levels of commission clawbacks which may be incurred by the company. More |
information regarding this can be found in note 11. |
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Revenue |
Turnover represents the total commission and fees receivable by the company in the ordinary course of business |
which is recognised as the related services are provided. |
DTE RISK AND FINANCIAL MANAGEMENT |
LIMITED (REGISTERED NUMBER: 01967512) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Property, plant and equipment |
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Computers & Office Equipment | - |
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Motor vehicles | - |
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The residual values, estimated useful lives and depreciation method of property, plant and equipment are |
reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision |
are recognised in the income statement when the change arises. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position date. |
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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. |
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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. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts are capitalised in the balance sheet. Those held under hire |
purchase contracts are depreciated over their estimated useful lives. |
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The interest element of these obligations is charged to the profit and loss account over the relevant period. The |
capital element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to the profit and loss account as incurred. |
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Pensions |
The company operates a defined contribution pension scheme. Contributions payable for the year are charged in |
the profit and loss account. |
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Fixed asset investments |
Fixed asset investments are stated at cost, less any permanent diminution in value. |
DTE RISK AND FINANCIAL MANAGEMENT |
LIMITED (REGISTERED NUMBER: 01967512) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial |
assets and liabilities like trade and other accounts receivable and payable. |
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Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for |
objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised |
in the income statement. |
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Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, |
being the transaction price less any amounts settled. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | PROPERTY, PLANT AND EQUIPMENT |
Computers |
& Office | Motor |
Equipment | vehicles | Totals |
£ | £ | £ |
COST |
At 1 May 2016 |
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Additions |
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Disposals |
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( |
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At 30 April 2017 |
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DEPRECIATION |
At 1 May 2016 |
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Charge for year |
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Eliminated on disposal |
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( |
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At 30 April 2017 |
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NET BOOK VALUE |
At 30 April 2017 |
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At 30 April 2016 |
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Assets with a net book value of £24,942 (2016: £13,126) are held under hire purchase contracts. |
DTE RISK AND FINANCIAL MANAGEMENT |
LIMITED (REGISTERED NUMBER: 01967512) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2017 |
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5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 May 2016 |
and 30 April 2017 |
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NET BOOK VALUE |
At 30 April 2017 |
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At 30 April 2016 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Amount due from parent company | 75,880 | - |
Prepayments |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Amount owed to group undertaking | 6,982 | 6,982 |
Amounts owed to related parties | 5,003 | 11,870 |
Accruals |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Hire purchase contracts |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Hire purchase contracts | 16,467 | 9,856 |
DTE RISK AND FINANCIAL MANAGEMENT |
LIMITED (REGISTERED NUMBER: 01967512) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2017 |
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10. | CONTINGENT LIABILITIES |
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The company receives commission in advance of the period over which such commissions relate. If policies are |
cancelled for whatever reason over this period which typically is up to four years then the company may suffer a |
clawback of commission previously received and credited to the profit and loss account. The directors do not |
consider any provision for such a clawback to be appropriate as historically the amounts involved are small and |
it is extremely difficult to quantify an appropriate amount. |
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11. | POST BALANCE SHEET EVENTS |
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Subsequent to the year end date, interim dividends totalling £75,000 have been voted and paid. |