REGISTERED NUMBER: |
DTE RISK AND FINANCIAL MANAGEMENT |
LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2022 |
REGISTERED NUMBER: |
DTE RISK AND FINANCIAL MANAGEMENT |
LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2022 |
DTE RISK AND FINANCIAL MANAGEMENT |
LIMITED (REGISTERED NUMBER: 01967512) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2022 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
DTE RISK AND FINANCIAL MANAGEMENT |
LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
DTE RISK AND FINANCIAL MANAGEMENT |
LIMITED (REGISTERED NUMBER: 01967512) |
STATEMENT OF FINANCIAL POSITION |
30 APRIL 2022 |
2022 | 2021 |
Notes | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
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) |
STATEMENT OF FINANCIAL POSITION - continued |
30 APRIL 2022 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
DTE RISK AND FINANCIAL MANAGEMENT |
LIMITED (REGISTERED NUMBER: 01967512) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2022 |
1. | STATUTORY INFORMATION |
DTE Risk and Financial Management Limited is a private company, limited by shares, registered in England and Wales, registration number 01967512. The registered office address is The Exchange, 5 Bank Street, Bury, BL9 0DN. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Despite the current challenges faced in the UK economy at the present time, the directors have been encouraged with the results reported by the company for the year ended 30 April 2022. |
At the statement of financial position date, the company had net assets of £333,397 and cash reserves of £502,254 and has continued to trade profitably post year end. |
The directors have considered the business risks and believe that the company is well placed to manage the risks at these challenging times and therefore continues to adopt a going concern basis of accounting in preparing these financial statements. |
Significant judgements and estimates |
There are currently no judgements and estimates applied by the directors which are considered key to the preparation of the financial statements. |
Revenue |
Revenue represents the total of amounts received or receivable by the company for pension and investment advice in the ordinary course of business and is recognised as the related services are provided. |
Property, plant and equipment |
Plant and machinery etc | - |
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. |
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 statement of financial position date. |
DTE RISK AND FINANCIAL MANAGEMENT |
LIMITED (REGISTERED NUMBER: 01967512) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2022 |
2. | ACCOUNTING POLICIES - continued |
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. |
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. |
Pensions |
The company operates a defined contribution pension scheme. Contributions payable for the year are charged in the income statement. |
Fixed asset investments |
Fixed asset investments are stated at cost, less any permanent diminution in value. |
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. |
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. |
Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
DTE RISK AND FINANCIAL MANAGEMENT |
LIMITED (REGISTERED NUMBER: 01967512) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2022 |
4. | PROPERTY, PLANT AND EQUIPMENT |
Plant and |
machinery |
etc |
£ |
COST |
At 1 May 2021 |
Additions |
Disposals | ( |
) |
At 30 April 2022 |
DEPRECIATION |
At 1 May 2021 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 April 2022 |
NET BOOK VALUE |
At 30 April 2022 |
At 30 April 2021 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 May 2021 |
and 30 April 2022 |
NET BOOK VALUE |
At 30 April 2022 |
At 30 April 2021 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Other debtors |
DTE RISK AND FINANCIAL MANAGEMENT |
LIMITED (REGISTERED NUMBER: 01967512) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2022 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | CONTINGENT LIABILITIES |
The company receives certain fees in advance of the period over which such income relates. 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 income previously received and credited to the income statement. 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. |
9. | SUBSEQUENT EVENTS |
Subsequent to the year end date, interim dividends totalling £150,000 have been voted and paid. |