Company registration number 09495231 (England and Wales)
ANTHONY D EVANS (INSURANCE BROKERS) & CO LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
PAGES FOR FILING WITH REGISTRAR
Weavers
22 Ensign Business Centre
Westwood Way
Coventry
CV4 8JA
ANTHONY D EVANS (INSURANCE BROKERS) & CO LTD
COMPANY INFORMATION
Directors
Mr Anthony David Evans
Mrs Caroline Rooke
Company number
09495231
Registered office
22 Ensign Business Centre
Westwood Way
Westwood Business Park
Coventry
West Midlands
United Kingdom
CV4 8JA
Accountants
Weavers
22 Ensign Business Centre
Westwood Way
Westwood Business Park
Coventry
United Kingdom
CV4 8JA
ANTHONY D EVANS (INSURANCE BROKERS) & CO LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
ANTHONY D EVANS (INSURANCE BROKERS) & CO LTD
BALANCE SHEET
AS AT
31 MARCH 2022
31 March 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
4
315,372
398,564
Investment properties
5
75,000
390,372
398,564
Current assets
Stocks
1,750
1,750
Debtors
6
95,811
117,001
Cash at bank and in hand
1,884,290
1,549,319
1,981,851
1,668,070
Creditors: amounts falling due within one year
7
(874,968)
(784,779)
Net current assets
1,106,883
883,291
Total assets less current liabilities
1,497,255
1,281,855
Provisions for liabilities
(3,491)
(3,234)
Net assets
1,493,764
1,278,621
Capital and reserves
Called up share capital
8
120,735
120,735
Profit and loss reserves
1,373,029
1,157,886
Total equity
1,493,764
1,278,621
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
ANTHONY D EVANS (INSURANCE BROKERS) & CO LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2022
31 March 2022
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 6 September 2022 and are signed on its behalf by:
Mr Anthony David Evans
Director
Company Registration No. 09495231
ANTHONY D EVANS (INSURANCE BROKERS) & CO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
- 3 -
1
Accounting policies
Company information
Anthony D Evans (Insurance Brokers) & Co Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 22 Ensign Business Centre, Westwood Way, Westwood Business Park, Coventry, West Midlands, United Kingdom, CV4 8JA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents net commissions and fees on the brokerage of insurance policies.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
Cost less residual value of the land on a straight line basis over the estimated economic life of the Building - 50 years
Leasehold land and buildings
Straight line basis over the period of the 999 year lease
Fixtures and fittings
25% Reducing Balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.5
Impairment of fixed assets
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount, Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the profit and loss account.
1.6
Stocks
Stocks are stated at the lower of cost and net realisable value.
ANTHONY D EVANS (INSURANCE BROKERS) & CO LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 4 -
1.7
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
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 profits.
1.9
Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount 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 that 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
ANTHONY D EVANS (INSURANCE BROKERS) & CO LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 5 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
9
10
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2021
381,544
41,194
422,738
Additions
1,597
1,597
Transfers
(75,000)
(75,000)
At 31 March 2022
306,544
42,791
349,335
Depreciation and impairment
At 1 April 2021
24,174
24,174
Depreciation charged in the year
5,135
4,654
9,789
At 31 March 2022
5,135
28,828
33,963
Carrying amount
At 31 March 2022
301,409
13,963
315,372
At 31 March 2021
381,544
17,020
398,564
5
Investment property
2022
£
Fair value
At 1 April 2021
Transfers
75,000
At 31 March 2022
75,000
Investment property comprises the shop unit 75 Moseley Avenue. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the Directors of the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
ANTHONY D EVANS (INSURANCE BROKERS) & CO LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 6 -
6
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
80,144
92,677
Other debtors
15,667
24,324
95,811
117,001
7
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
671,803
644,492
Corporation tax
76,941
103,559
Other taxation and social security
95,988
8,188
Other creditors
30,236
28,540
874,968
784,779
8
Called up share capital
2022
2021
£
£
Ordinary share capital
Issued and fully paid
120735 Ordinary shares of £1 each
120,735
120,735