REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2023 |
FOR |
COPPERGATE INSURANCE SERVICES LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2023 |
FOR |
COPPERGATE INSURANCE SERVICES LIMITED |
COPPERGATE INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 02931191) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2023 |
Page |
Company Information | 1 |
Accountants' Report | 2 |
Statement of Financial Position | 3 | to | 4 |
Notes to the Financial Statements | 5 | to | 8 |
COPPERGATE INSURANCE SERVICES LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
57 London Road |
High Wycombe |
Buckinghamshire |
HP11 1BS |
ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
COPPERGATE INSURANCE SERVICES LIMITED |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Coppergate Insurance Services Limited for the year ended 31 May 2023 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the director of Coppergate Insurance Services Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Coppergate Insurance Services Limited and state those matters that we have agreed to state to the director of Coppergate Insurance Services Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Coppergate Insurance Services Limited and its director for our work or for this report. |
It is your duty to ensure that Coppergate Insurance Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Coppergate Insurance Services Limited. You consider that Coppergate Insurance Services Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Coppergate Insurance Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
57 London Road |
High Wycombe |
Buckinghamshire |
HP11 1BS |
COPPERGATE INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 02931191) |
STATEMENT OF FINANCIAL POSITION |
31 MAY 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 | 485,612 | 499,518 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
COPPERGATE INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 02931191) |
STATEMENT OF FINANCIAL POSITION - continued |
31 MAY 2023 |
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 |
COPPERGATE INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 02931191) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2023 |
1. | STATUTORY INFORMATION |
Coppergate Insurance Services Limited is a private company limited by shares and incorporated in England and Wales. The address of the company's registered office is 57 London Road, High Wycombe, Buckinghamshire, HP11 1BS. The principal place of business is PO Box 4566, Gerrards Cross, Buckinghamshire, SL9 1DT. The registered number is 02931191. |
The principal activity of the company is that of Insurance Broker Services. |
The presentation currency of these financial statements is Sterling (£), being the currency of the primary economic market in which the entity operates (its functional currency). All amounts in these financial statements have been rounded to the nearest pound unless stated otherwise. |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the value, net of value added tax and discounts, of commissions earned on insurance services provided to customers throughout the period. |
Tangible fixed assets |
Long leasehold | - |
Improvements to property | - |
Fixtures and fittings | - |
Computer equipment | - |
COPPERGATE INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 02931191) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Tax on the profit or loss for the year comprises current and deferred tax. Tax is recognised in the profit and loss account except to the extent that it relates to items recognised directly in equity or other comprehensive income, in which case it is recognised directly in equity or other comprehensive income. |
Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years. |
Deferred tax is provided on timing differences which arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Differences between accumulated depreciation and tax allowances for the cost of a fixed asset, if and when all conditions for retaining the tax allowances have been met, are not provided for. Deferred tax is not recognised on permanent differences arising because certain types of income or expense are non-taxable or are disallowable for tax or because certain tax charges or allowances are greater or smaller than the corresponding income or expense. |
Deferred tax is measured at the tax rate that is expected to apply to the reversal of the related difference, using tax rates enacted or substantively enacted at the balance sheet date. Deferred tax balances are not discounted. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that is it probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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. |
Loans and borrowings |
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
COPPERGATE INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 02931191) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2023 |
4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
Long | to | and | Computer |
leasehold | property | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 June 2022 |
and 31 May 2023 |
DEPRECIATION |
At 1 June 2022 |
Charge for year |
At 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 May 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans | 133,389 | 145,624 |
COPPERGATE INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 02931191) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2023 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
The bank loans are secured by a fixed charge over the company property and a floating charge on all other company assets. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | 1 | 10,000 | 10,000 |
Ordinary A | 1 | 300 | 300 |
10,300 | 10,300 |