McComish Insurance Brokers Limited 07390977 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is insurance brokers. Digita Accounts Production Advanced 6.30.9574.0 true 07390977 2022-04-01 2023-03-31 07390977 2023-03-31 07390977 core:CurrentFinancialInstruments 2023-03-31 07390977 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 07390977 core:FurnitureFittingsToolsEquipment 2023-03-31 07390977 bus:SmallEntities 2022-04-01 2023-03-31 07390977 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 07390977 bus:FullAccounts 2022-04-01 2023-03-31 07390977 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 07390977 bus:RegisteredOffice 2022-04-01 2023-03-31 07390977 bus:Director1 2022-04-01 2023-03-31 07390977 bus:Director2 2022-04-01 2023-03-31 07390977 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07390977 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 07390977 core:PlantMachinery 2022-04-01 2023-03-31 07390977 countries:England 2022-04-01 2023-03-31 07390977 2022-03-31 07390977 core:FurnitureFittingsToolsEquipment 2022-03-31 07390977 2021-04-01 2022-03-31 07390977 2022-03-31 07390977 core:CurrentFinancialInstruments 2022-03-31 07390977 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 07390977 core:FurnitureFittingsToolsEquipment 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 07390977

McComish Insurance Brokers Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

McComish Insurance Brokers Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

McComish Insurance Brokers Limited

Company Information

Directors

Mr I J Penfold

Mr J L McComish

Registered office

The Old Exchange
521 Wimborne Road East
Ferndown
Dorset
BH22 9NH

Accountants

Wilkinsons Accountants Limited
Chartered Certified Accountants
The Old Exchange
521 Wimborne Road East
Ferndown
Dorset
BH22 9NH

 

McComish Insurance Brokers Limited

(Registration number: 07390977)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,820

2,317

Current assets

 

Debtors

5

165,783

154,278

Cash at bank and in hand

 

187,686

149,731

 

353,469

304,009

Creditors: Amounts falling due within one year

6

(133,007)

(125,936)

Net current assets

 

220,462

178,073

Total assets less current liabilities

 

222,282

180,390

Provisions for liabilities

(455)

(440)

Net assets

 

221,827

179,950

Capital and reserves

 

Called up share capital

100

100

Retained earnings

221,727

179,850

Shareholders' funds

 

221,827

179,950

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 12 July 2023 and signed on its behalf by:
 

.........................................
Mr J L McComish
Director

 

McComish Insurance Brokers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The Old Exchange
521 Wimborne Road East
Ferndown
Dorset
BH22 9NH

2

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.

Revenue recognition

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Government grants

Government grants of a revenue nature are recognised when there is a reasonable assurance that conditions attaching to them have been met and the grants will be received. The accruals model has been adopted for recognition.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

McComish Insurance Brokers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment, fixtures and fittings

over 3 years

Plant and machinery

over 3 years

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 7).

 

McComish Insurance Brokers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Equipment, fixtures and fittings
 £

Total
£

Cost or valuation

At 1 April 2022

10,646

10,646

Additions

750

750

At 31 March 2023

11,396

11,396

Depreciation

At 1 April 2022

8,329

8,329

Charge for the year

1,247

1,247

At 31 March 2023

9,576

9,576

Carrying amount

At 31 March 2023

1,820

1,820

At 31 March 2022

2,317

2,317

5

Debtors

2023
£

2022
£

Trade debtors

165,147

139,821

Prepayments

636

12,942

Other debtors

-

1,515

165,783

154,278

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

89,215

74,821

Other tax and social security

4,124

3,801

Taxation

11,115

14,864

Accruals and deferred income

4,449

2,399

Other creditors

24,104

30,051

133,007

125,936

 

McComish Insurance Brokers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

7

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 £16,566 (2022 - £24,050).