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Financial Statements |
Contents |
Page |
Officers and professional advisers |
1 |
Strategic report |
2 |
Director's report |
4 |
Independent auditor's report to the members |
6 |
Statement of income and retained earnings |
11 |
Statement of financial position |
12 |
Statement of cash flows |
13 |
Notes to the financial statements |
14 |
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Officers and Professional Advisers |
Director |
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Registered office |
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Auditor |
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Chartered Accountants & Statutory Auditors |
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146 New London Road |
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Chelmsford |
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Essex |
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CM2 0AW |
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Bankers |
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440 Strand |
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London |
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WC2R 0QS |
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Strategic Report |
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Director |
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Registered office: |
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Director's Report |
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Director |
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Registered office: |
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Independent Auditor's Report to the Members of
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(Senior Statutory Auditor) |
For and on behalf of |
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Chartered Accountants & Statutory Auditors |
146 New London Road |
Chelmsford |
Essex |
CM2 0AW |
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Statement of Income and Retained Earnings |
2023 |
2022 |
||
Note |
£ |
£ |
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Turnover |
4 |
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------------ |
------------ |
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Gross profit |
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Administrative expenses |
|
|
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Other operating income |
|
|
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------------ |
------------ |
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Operating (loss)/profit |
5 |
(
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Other interest receivable and similar income |
9 |
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Interest payable and similar expenses |
10 |
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------------ |
------------ |
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(Loss)/profit before taxation |
(
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Tax on (loss)/profit |
11 |
(
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--------- |
-------- |
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(Loss)/profit for the financial year and total comprehensive income |
(
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|
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--------- |
-------- |
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Retained earnings at the start of the year |
|
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--------- |
--------- |
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Retained (losses)/earnings at the end of the year |
(
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--------- |
--------- |
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Statement of Financial Position |
2023 |
2022 |
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Note |
£ |
£ |
£ |
£ |
Tangible assets |
12 |
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Investments |
13 |
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-------- |
-------- |
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Debtors |
14 |
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Cash at bank and in hand |
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--------- |
------------ |
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Creditors: amounts falling due within one year |
16 |
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--------- |
------------ |
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Net current (liabilities)/assets |
(
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-------- |
--------- |
||||
Total assets less current liabilities |
|
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Creditors: amounts falling due after more than one year |
17 |
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Taxation including deferred tax |
18 |
|
(
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-------- |
--------- |
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Net (liabilities)/assets |
(
|
|
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-------- |
--------- |
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Called up share capital |
21 |
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Capital redemption reserve |
22 |
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Profit and loss account |
22 |
(
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-------- |
--------- |
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Shareholders (deficit)/funds |
(
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-------- |
--------- |
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Director |
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Statement of Cash Flows |
2023 |
2022 |
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Note |
£ |
£ |
(Loss)/profit for the financial year |
(
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Adjustments for: |
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Depreciation of tangible assets |
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Other interest receivable and similar income |
(
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(
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Interest payable and similar expenses |
|
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Loss on disposal of tangible assets |
|
– |
Tax on (loss)/profit |
(
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Accrued (income)/expenses |
(
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Changes in: |
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Trade and other debtors |
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(
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Trade and other creditors |
(
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--------- |
--------- |
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Cash generated from operations |
(
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Interest paid |
(
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(
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Interest received |
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Tax paid |
– |
(
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--------- |
--------- |
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Net cash (used in)/from operating activities |
(
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--------- |
--------- |
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Purchase of tangible assets |
(
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(
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Proceeds from sale of tangible assets |
|
– |
--------- |
--------- |
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Net cash used in investing activities |
(
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(
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--------- |
--------- |
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Proceeds from borrowings |
(
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(
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--------- |
--------- |
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Net cash used in financing activities |
(
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(
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--------- |
--------- |
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Net (decrease)/increase in cash and cash equivalents |
(
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|
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Cash and cash equivalents at beginning of year |
831,359 |
649,928 |
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--------- |
--------- |
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Cash and cash equivalents at end of year |
15 |
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--------- |
--------- |
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Notes to the Financial Statements |
Leasehold improvements |
- |
|
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Computer hardware and software |
- |
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Fixtures and fittings |
- |
|
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Websites |
- |
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Office equipment |
- |
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|
2023 |
2022 |
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£ |
£ |
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Commissions |
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------------ |
------------ |
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2023 |
2022 |
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£ |
£ |
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Depreciation of tangible assets |
|
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Loss on disposal of tangible assets |
|
– |
Foreign exchange differences |
|
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------- |
------- |
|
2023 |
2022 |
|
£ |
£ |
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Fees payable for the audit of the financial statements |
|
|
-------- |
-------- |
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Other non-audit services |
|
|
-------- |
-------- |
|
2023 |
2022 |
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No. |
No. |
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Management and administration staff |
|
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Broking and technical staff |
|
|
---- |
---- |
|
|
|
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---- |
---- |
|
2023 |
2022 |
|
£ |
£ |
|
Wages and salaries |
|
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Social security costs |
|
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Other pension costs |
|
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--------- |
------------ |
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--------- |
------------ |
|
2023 |
2022 |
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£ |
£ |
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Remuneration |
|
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Company contributions to defined contribution pension plans |
|
|
--------- |
--------- |
|
|
|
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--------- |
--------- |
|
2023 |
2022 |
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No. |
No. |
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Defined contribution plans |
|
|
---- |
---- |
|
2023 |
2022 |
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£ |
£ |
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Interest on cash and cash equivalents |
|
|
------- |
---- |
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2023 |
2022 |
|
£ |
£ |
|
Interest on banks loans and overdrafts |
|
|
------- |
---- |
|
2023 |
2022 |
|
£ |
£ |
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UK current tax (income)/expense |
(
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Adjustments in respect of prior periods |
– |
|
-------- |
-------- |
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Total current tax |
(
|
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-------- |
-------- |
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Origination and reversal of timing differences |
|
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-------- |
-------- |
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Tax on (loss)/profit |
(
|
|
-------- |
-------- |
|
2023 |
2022 |
|
£ |
£ |
|
(Loss)/profit on ordinary activities before taxation |
(
|
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--------- |
-------- |
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(Loss)/profit on ordinary activities by rate of tax |
(
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Effect of expenses not deductible for tax purposes |
|
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Effect of capital allowances and depreciation |
(
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(
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Unused tax losses |
|
– |
Short term timing differences |
|
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Effect of loss on disposal of fixed assets |
|
– |
--------- |
-------- |
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Tax on (loss)/profit |
(
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--------- |
-------- |
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Short leasehold property |
Plant and machinery |
Fixtures and fittings |
Website |
Equipment |
Total |
|
£ |
£ |
£ |
£ |
£ |
£ |
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Cost |
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At 1 Apr 2022 |
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Additions |
– |
– |
– |
– |
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Disposals |
(
|
– |
(
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– |
(
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(
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------- |
--------- |
-------- |
-------- |
-------- |
--------- |
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At 31 Mar 2023 |
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------- |
--------- |
-------- |
-------- |
-------- |
--------- |
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Depreciation |
||||||
At 1 Apr 2022 |
|
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Charge for the year |
|
– |
|
– |
|
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Disposals |
(
|
– |
(
|
– |
(
|
(
|
------- |
--------- |
-------- |
-------- |
-------- |
--------- |
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At 31 Mar 2023 |
|
|
|
|
|
|
------- |
--------- |
-------- |
-------- |
-------- |
--------- |
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Carrying amount |
||||||
At 31 Mar 2023 |
|
– |
|
– |
|
|
------- |
--------- |
-------- |
-------- |
-------- |
--------- |
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At 31 Mar 2022 |
|
– |
|
– |
– |
|
------- |
--------- |
-------- |
-------- |
-------- |
--------- |
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Shares in group undertakings |
|
£ |
|
Cost |
|
At 1 April 2022 and 31 March 2023 |
|
---- |
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Impairment |
|
At 1 April 2022 and 31 March 2023 |
– |
---- |
|
Carrying amount |
|
At 31 March 2023 |
|
---- |
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At 31 March 2022 |
|
---- |
|
2023 |
2022 |
|
£ |
£ |
|
Trade debtors |
|
|
Prepayments and accrued income |
|
|
Corporation tax repayable |
|
– |
Amounts due from related undertakings |
|
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Other debtors |
|
|
--------- |
--------- |
|
|
|
|
--------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
Cash at bank and in hand |
|
|
Bank overdrafts |
(
|
– |
--------- |
--------- |
|
|
|
|
--------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
Bank loans and overdrafts |
|
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Trade creditors |
|
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Accruals and deferred income |
|
|
Corporation tax |
– |
|
Social security and other taxes |
|
|
--------- |
------------ |
|
|
|
|
--------- |
------------ |
|
2023 |
2022 |
|
£ |
£ |
|
Bank loans and overdrafts |
|
|
-------- |
-------- |
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Deferred tax (note 19) |
|
£ |
|
At 1 April 2022 |
(
|
Additions |
|
------- |
|
At 31 March 2023 |
|
------- |
|
2023 |
2022 |
|
£ |
£ |
|
Included in provisions (note 18) |
|
(
|
------- |
------- |
|
2023 |
2022 |
|
£ |
£ |
|
Accelerated capital allowances |
|
|
Deferred tax - pension scheme contributions |
(
|
(
|
------- |
------- |
|
1,109 |
(1,247) |
|
------- |
------- |
|
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
1,000 |
|
1,000 |
--------- |
------- |
--------- |
------- |
|
At 1 Apr 2022 |
Cash flows |
At 31 Mar 2023 |
|
£ |
£ |
£ |
|
Cash at bank and in hand |
|
(602,894) |
|
Bank overdrafts |
– |
(24,274) |
(24,274) |
Debt due within one year |
(10,000) |
– |
(10,000) |
Debt due after one year |
(35,000) |
10,000 |
(25,000) |
--------- |
--------- |
--------- |
|
|
(
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|
|
--------- |
--------- |
--------- |
|
2023 |
2022 |
|
£ |
£ |
|
Not later than 1 year |
|
|
Later than 1 year and not later than 5 years |
– |
|
------- |
-------- |
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------- |
-------- |
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