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REGISTERED NUMBER: 03306678 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2022

for

Credential Insurance Brokers Limited

Credential Insurance Brokers Limited (Registered number: 03306678)






Contents of the Financial Statements
for the Year Ended 30 June 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Credential Insurance Brokers Limited

Company Information
for the Year Ended 30 June 2022







DIRECTOR: P S W Lau





REGISTERED OFFICE: 620A Kings Road
London
SW6 2DU





REGISTERED NUMBER: 03306678 (England and Wales)





ACCOUNTANTS: ACL & Co
Chartered Certified Accountants
The Coach House
North Building
1 Howard Road
Reigate
Surrey
RH2 7JE

Credential Insurance Brokers Limited (Registered number: 03306678)

Balance Sheet
30 June 2022

30.6.22 30.6.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 20,351 -
Tangible assets 5 2,049 2,252
22,400 2,252

CURRENT ASSETS
Debtors 6 2,857 82,329
Cash at bank 311,194 314,872
314,051 397,201
CREDITORS
Amounts falling due within one year 7 93,278 165,021
NET CURRENT ASSETS 220,773 232,180
TOTAL ASSETS LESS CURRENT
LIABILITIES

243,173

234,432

CAPITAL AND RESERVES
Called up share capital 12,500 12,500
Capital redemption reserve 37,500 37,500
Retained earnings 193,173 184,432
SHAREHOLDERS' FUNDS 243,173 234,432

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Credential Insurance Brokers Limited (Registered number: 03306678)

Balance Sheet - continued
30 June 2022


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 August 2022 and were signed by:





P S W Lau - Director


Credential Insurance Brokers Limited (Registered number: 03306678)

Notes to the Financial Statements
for the Year Ended 30 June 2022

1. STATUTORY INFORMATION

Credential Insurance Brokers Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - 4 ) .

Credential Insurance Brokers Limited (Registered number: 03306678)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2022

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2021 10,500
Additions 20,351
At 30 June 2022 30,851
AMORTISATION
At 1 July 2021
and 30 June 2022 10,500
NET BOOK VALUE
At 30 June 2022 20,351
At 30 June 2021 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 July 2021 6,137 3,800 12,780 22,717
Additions - - 480 480
At 30 June 2022 6,137 3,800 13,260 23,197
DEPRECIATION
At 1 July 2021 6,113 3,397 10,955 20,465
Charge for year 6 101 576 683
At 30 June 2022 6,119 3,498 11,531 21,148
NET BOOK VALUE
At 30 June 2022 18 302 1,729 2,049
At 30 June 2021 24 403 1,825 2,252

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.22 30.6.21
£    £   
Premiums due from clients 2,857 77,329
Other debtors - 5,000
2,857 82,329

Credential Insurance Brokers Limited (Registered number: 03306678)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.22 30.6.21
£    £   
Premiums due to insurers 51,130 119,457
Tax 9,434 13,838
Other creditors 114 108
Directors' current accounts 29,000 28,018
Accrued expenses 3,600 3,600
93,278 165,021