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Registration number: 08494721

Sutcliffe Insurance Group Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2023

 

Sutcliffe Insurance Group Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 4

 

Sutcliffe Insurance Group Limited

Company Information

Directors

Mr D C Sutcliffe

Mr E D Sutcliffe

Mrs R J Sutcliffe

Mrs S M Sutcliffe

Registered office

2 Foundry Street
Off City Walls Road
Worcester
WR1 2BJ

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11C Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Sutcliffe Insurance Group Limited

(Registration number: 08494721)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

156,129

156,129

Current assets

 

Debtors

5

32,073

31,968

Net assets

 

188,202

188,097

Capital and reserves

 

Called up share capital

103

103

Retained earnings

188,099

187,994

Shareholders' funds

 

188,202

188,097

For the financial year ending 31 May 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 January 2024 and signed on its behalf by:
 

.........................................
Mr D C Sutcliffe
Director

   
 

Sutcliffe Insurance Group Limited

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

1

General information

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

The address of its registered office is:
2 Foundry Street
Off City Walls Road
Worcester
WR1 2BJ
United Kingdom

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.

Going concern

The financial statements have been prepared on a going concern basis.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Sutcliffe Insurance Group Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

4

Investments

2023
£

2022
£

Investments in subsidiaries

156,129

156,129

Subsidiaries

£

Cost or valuation

At 1 June 2022

156,129

Provision

Carrying amount

At 31 May 2023

156,129

At 31 May 2022

156,129

5

Debtors

Current

Note

2023
£

2022
£

Amounts owed by related parties

32,073

31,968