Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312022-05-102023-05-31true2022-05-10falseActivities of insurance agents and brokers1falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14097810 2022-05-09 14097810 2022-05-10 2023-05-31 14097810 2021-06-01 2022-05-09 14097810 2023-05-31 14097810 c:Director1 2022-05-10 2023-05-31 14097810 c:Director1 2023-05-31 14097810 c:RegisteredOffice 2022-05-10 2023-05-31 14097810 d:FurnitureFittings 2022-05-10 2023-05-31 14097810 d:FurnitureFittings 2023-05-31 14097810 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-05-10 2023-05-31 14097810 d:OfficeEquipment 2022-05-10 2023-05-31 14097810 d:OfficeEquipment 2023-05-31 14097810 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-05-10 2023-05-31 14097810 d:OwnedOrFreeholdAssets 2022-05-10 2023-05-31 14097810 d:CurrentFinancialInstruments 2023-05-31 14097810 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 14097810 d:ShareCapital 2023-05-31 14097810 d:RetainedEarningsAccumulatedLosses 2023-05-31 14097810 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 14097810 c:OrdinaryShareClass1 2022-05-10 2023-05-31 14097810 c:OrdinaryShareClass1 2023-05-31 14097810 c:FRS102 2022-05-10 2023-05-31 14097810 c:AuditExemptWithAccountantsReport 2022-05-10 2023-05-31 14097810 c:FullAccounts 2022-05-10 2023-05-31 14097810 c:PrivateLimitedCompanyLtd 2022-05-10 2023-05-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 14097810










T GABRIEL INSURANCE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MAY 2023

 
T GABRIEL INSURANCE LIMITED
 
 
COMPANY INFORMATION


Director
Thomas Gabriel (appointed 10 May 2022)




Registered number
14097810



Registered office
12 Church Street

Cromer

Norfolk

NR27 9ER




Accountants
MA Partners LLP
Chartered Accountants

12 Church Street

Cromer

Norfolk

NR27 9ER





 
T GABRIEL INSURANCE LIMITED
 

CONTENTS



Page
Accountants' Report
 
1
Balance Sheet
 
2 - 3
Notes to the Financial Statements
 
4 - 9


 
T GABRIEL INSURANCE LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF T GABRIEL INSURANCE LIMITED
FOR THE PERIOD ENDED 31 MAY 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of T Gabriel Insurance Limited for the period ended 31 May 2023 which comprise  the Balance Sheet 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 at https://www.icaew.com /regulation.

This report is made solely to the director of T Gabriel Insurance Limited in accordance with the terms of our engagement letter dated May 2022Our work has been undertaken solely to prepare for your approval the financial statements of T Gabriel Insurance Limited  and state those matters that we have agreed to state to the director of T Gabriel Insurance Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than T Gabriel Insurance Limited and its director for our work or for this report. 

It is your duty to ensure that T Gabriel Insurance 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 T Gabriel Insurance Limited. You consider that T Gabriel Insurance Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of T Gabriel Insurance 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.

  



MA Partners LLP
 
Chartered Accountants
  
12 Church Street
Cromer
Norfolk
NR27 9ER
3 November 2023
Page 1

 
T GABRIEL INSURANCE LIMITED
REGISTERED NUMBER: 14097810

BALANCE SHEET
AS AT 31 MAY 2023

2023
Note
£

Fixed assets
  

Tangible assets
 4 
5,230

  
5,230

Current assets
  

Cash at bank and in hand
 5 
14,218

  
14,218

Creditors: amounts falling due within one year
 6 
(5,994)

Net current assets
  
 
 
8,224

Total assets less current liabilities
  
13,454

Provisions for liabilities
  

Deferred tax
  
(994)

  
 
 
(994)

Net assets
  
12,460


Capital and reserves
  

Called up share capital 
 8 
3

Profit and loss account
  
12,457

  
12,460


Page 2

 
T GABRIEL INSURANCE LIMITED
REGISTERED NUMBER: 14097810
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 3 November 2023.




Thomas Gabriel
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
T GABRIEL INSURANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

1.


General information

The Company is a private company limited by shares.  It is both incorporated and domiciled in England and Wales.  The address of its registered office is 12 Church Street, Cromer, Norfolk, England, NR27 9ER..
The company's principal activity is that of insurance agents and brokers. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
T GABRIEL INSURANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
T GABRIEL INSURANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
reducing balance
Office equipment
-
20%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

Page 6

 
T GABRIEL INSURANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the period was 1.


4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


Additions
1,566
4,975
6,541



At 31 May 2023

1,566
4,975
6,541



Depreciation


Charge for the period on owned assets
314
997
1,311



At 31 May 2023

314
997
1,311



Net book value



At 31 May 2023
1,252
3,978
5,230

Page 7

 
T GABRIEL INSURANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

5.


Cash and cash equivalents

2023
£

Cash at bank and in hand
14,217

14,217



6.


Creditors: Amounts falling due within one year

2023
£

Corporation tax
3,452

Other taxation and social security
649

Other creditors
1,007

Accruals and deferred income
886

5,994



7.


Deferred taxation



2023


£






Charged to profit or loss
(994)



At end of year
(994)

The deferred taxation balance is made up as follows:

2023
£


Accelerated capital allowances
(994)

(994)

Page 8

 
T GABRIEL INSURANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

8.


Share capital

2023
£
Allotted, called up and fully paid


3 Ordinary shares of £1.00 each
3


The Company allotted and issued 3 Ordinary Shares of £1 each during the period and the consideration received for the shares was £3.

 
Page 9