MARKET INSURANCE BROKERS LIMITED

Company Registration Number:
02733989 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2022

Period of accounts

Start date: 1 January 2022

End date: 31 December 2022

MARKET INSURANCE BROKERS LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2022

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

MARKET INSURANCE BROKERS LIMITED

Directors' report period ended 31 December 2022

The directors present their report with the financial statements of the company for the period ended 31 December 2022

Directors

The directors shown below have held office during the whole of the period from
1 January 2022 to 31 December 2022

Kamel AbuNahl
Mehran Eftekhar


The director shown below has held office during the period of
1 January 2022 to 5 August 2022

Simon Radford


The director shown below has held office during the period of
1 January 2022 to 4 August 2022

Atul Sudra


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
2 November 2023

And signed on behalf of the board by:
Name: Mehran Eftekhar
Status: Director

MARKET INSURANCE BROKERS LIMITED

Profit And Loss Account

for the Period Ended 31 December 2022

2022 2021


£

£
Turnover: 17,539 166,214
Gross profit(or loss): 17,539 166,214
Administrative expenses: ( 618,548 ) ( 549,929 )
Operating profit(or loss): (601,009) (383,715)
Interest receivable and similar income: 67 159
Profit(or loss) before tax: (600,942) (383,556)
Profit(or loss) for the financial year: (600,942) (383,556)

MARKET INSURANCE BROKERS LIMITED

Balance sheet

As at 31 December 2022

Notes 2022 2021


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets:   0 0
Investments:   0 0
Total fixed assets: 0 0
Current assets
Stocks:   0 0
Debtors: 3 60,454 81,254
Cash at bank and in hand: 468,694 1,268,384
Total current assets: 529,148 1,349,638
Creditors: amounts falling due within one year: 4 ( 456,366 ) ( 1,287,987 )
Net current assets (liabilities): 72,782 61,651
Total assets less current liabilities: 72,782 61,651
Total net assets (liabilities): 72,782 61,651
Capital and reserves
Called up share capital: 7,597,616 6,985,543
Other reserves: 2,054 2,054
Profit and loss account: (7,526,888 ) (6,925,946 )
Total Shareholders' funds: 72,782 61,651

The notes form part of these financial statements

MARKET INSURANCE BROKERS LIMITED

Balance sheet statements

For the year ending 31 December 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 2 November 2023
and signed on behalf of the board by:

Name: Mehran Eftekhar
Status: Director

The notes form part of these financial statements

MARKET INSURANCE BROKERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

    Turnover policy

    Turnover represents retained brokerage and fees recoverable which are taken into account when the Company has completed the placement. In addition, an element of income is deferred to take account of future servicing obligations. Alterations to brokerage arising from return and premiums adjustments are accounted for when notified.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are depreciated by equal annual instalments over the estimated useful lives of the assets. The useful lives are as follows: Office equipment (3 years), Office furniture (3 years)

MARKET INSURANCE BROKERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

  • 2. Employees

    2022 2021
    Average number of employees during the period 5 5

    In August 2022 all Employees (including Executive Directors) were made redundant. There are no key management personnel other than the directors of the company.

MARKET INSURANCE BROKERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

3. Debtors

2022 2021
£ £
Trade debtors 57,185 78,041
Other debtors 3,269 3,213
Total 60,454 81,254

MARKET INSURANCE BROKERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

4. Creditors: amounts falling due within one year note

2022 2021
£ £
Trade creditors 449,906 1,213,794
Taxation and social security 0 13,796
Other creditors 6,460 60,397
Total 456,366 1,287,987