Registration number:
Renewable Risk Advisers Limited
for the Year Ended 31 May 2023
Renewable Risk Advisers Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
Renewable Risk Advisers Limited
(Registration number: 07327529)
Balance Sheet as at 31 May 2023
Note |
2023 |
2022 |
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Fixed assets |
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Investments |
- |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
6,510 |
5,555 |
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Share premium reserve |
19,600 |
- |
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Retained earnings |
774 |
20,002 |
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Shareholders' funds |
26,884 |
25,557 |
Renewable Risk Advisers Limited
(Registration number: 07327529)
Balance Sheet as at 31 May 2023
For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Renewable Risk Advisers Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Exemption from preparing group accounts
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of renewable energy insurance broking and consultancy services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Foreign currency transactions and balances
Tax
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 taxable income.
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Renewable Risk Advisers Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Renewable Risk Advisers Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
Investments |
2023 |
2022 |
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Investments in subsidiaries |
- |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 June 2022 |
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Disposals |
( |
At 31 May 2023 |
- |
Provision |
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Carrying amount |
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At 31 May 2023 |
- |
At 31 May 2022 |
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Debtors |
Current |
2023 |
2022 |
Trade debtors |
- |
- |
Prepayments |
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Other debtors |
- |
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Renewable Risk Advisers Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings |
- |
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Taxation and social security |
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Other creditors |
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
Related party transactions |
Summary of transactions with key management
Wind Forest Consultancy Limited (a company of which W J W Lloyd is a director) made consultancy charges of £34,094 (2022 - £31,692). At the balance sheet date the amount due to Wind Forest Consultancy Limited was £2,969 (2022 - £2,136).
Transactions with directors |
M J Bullock (director) had a loan account with the company. At the balance sheet date the amount due to M J Bullock was £729 (2022 - £1,350).