COMMERCIAL EXPRESS QUOTES LIMITED

Company Registration Number:
03862468 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

COMMERCIAL EXPRESS QUOTES LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

COMMERCIAL EXPRESS QUOTES LIMITED

Balance sheet

As at 31 December 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 440,585 443,105
Total fixed assets: 440,585 443,105
Current assets
Debtors:   2,875,887 2,386,223
Cash at bank and in hand: 2,552,773 1,908,363
Total current assets: 5,428,660 4,294,586
Creditors: amounts falling due within one year:   (3,822,560) (2,768,670)
Net current assets (liabilities): 1,606,100 1,525,916
Total assets less current liabilities: 2,046,685 1,969,021
Creditors: amounts falling due after more than one year:   (15,000) (25,930)
Total net assets (liabilities): 2,031,685 1,943,091
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 2,031,585 1,942,991
Shareholders funds: 2,031,685 1,943,091

The notes form part of these financial statements

COMMERCIAL EXPRESS QUOTES LIMITED

Balance sheet statements

For the year ending 31 December 2023 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 08 February 2024
and signed on behalf of the board by:

Name: D P PRITCHARD
Status: Director

The notes form part of these financial statements

COMMERCIAL EXPRESS QUOTES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents commissions and fees received during the year. Commission for insurance services isrecognised in full in the month when the policies are incepted.

Tangible fixed assets and depreciation policy

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net ofdepreciation and any impairment losses.Depreciation is recognised so as to write off the cost or valuation of assets less their residual values overtheir useful lives on the following bases:Land and buildings Freehold - No depreciation in providedFixtures, fittings & equipment - 25% on a straight line basisComputer equipment - 25% on a straight line basisThe gain or loss arising on the disposal of an asset is determined as the difference between the saleproceeds and the carrying value of the asset, and is credited or charged to profit or loss .

Other accounting policies

Insurance Company Debtors and Insurance Company CreditorsThe company acts as agents in broking the insurable risk of clients and is normally not liable as aprincipal for premiums due to underwriters. Not withstanding the legal relationship with clients andintermediaries by showing debtors, creditors and cash balances relating to insurance business as assetsand liabilities of the company itself. This recognises that the company is entitled to retain the investmentincome on any cash flows arising from these transactions.

COMMERCIAL EXPRESS QUOTES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

2. Employees

2023 2022
Average number of employees during the period 59 59

COMMERCIAL EXPRESS QUOTES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible Assets

Total
Cost £
At 01 January 2023 1,259,972
Additions 10,438
At 31 December 2023 1,270,410
Depreciation
At 01 January 2023 816,867
Charge for year 12,958
At 31 December 2023 829,825
Net book value
At 31 December 2023 440,585
At 31 December 2022 443,105