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REGISTERED NUMBER: 04998729 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Rowett Insurance Broking Limited

Rowett Insurance Broking Limited (Registered number: 04998729)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Rowett Insurance Broking Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: Gordon Glyn Rowett
Matthew Alastair Nile
Gareth Glyn Rowett





SECRETARY: Violet Ann Rowett





REGISTERED OFFICE: 1 Southview House
St Austell Enterprise Park
Carclaze
St Austell
Cornwall
PL25 4EJ





REGISTERED NUMBER: 04998729 (England and Wales)

Rowett Insurance Broking Limited (Registered number: 04998729)

Abridged Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 256,824 289,730
Tangible assets 5 452,493 459,250
Investments 6 13,441 13,441
722,758 762,421

CURRENT ASSETS
Debtors 281,981 204,079
Cash at bank and in hand 1,495,922 1,208,588
1,777,903 1,412,667
CREDITORS
Amounts falling due within one year 213,698 185,808
NET CURRENT ASSETS 1,564,205 1,226,859
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,286,963

1,989,280

CREDITORS
Amounts falling due after more than one
year

40,000

60,000
NET ASSETS 2,246,963 1,929,280

CAPITAL AND RESERVES
Called up share capital 10,500 10,500
Share premium 199,500 199,500
Revaluation reserve 7 125,000 125,000
Retained earnings 1,911,963 1,594,280
2,246,963 1,929,280

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Rowett Insurance Broking Limited (Registered number: 04998729)

Abridged Balance Sheet - continued
30 June 2023


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 June 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 March 2024 and were signed on its behalf by:





Gordon Glyn Rowett - Director


Rowett Insurance Broking Limited (Registered number: 04998729)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Rowett Insurance Broking Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is comprised of net commissions and fees receivable on insurance business placed during the year. It is recognised at the time the commissions and fees are earned and is measured at the fair value of the consideration received or receivable, excluding any rebates or clawbacks.

Goodwill
Goodwill represents the cost of acquisition of businesses over the value of the underlying net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation. Goodwill is amortised evenly over the respective estimated useful life of the businesses acquired.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings and other fixed asset investments are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Rowett Insurance Broking Limited (Registered number: 04998729)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2022 - 28 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2022
and 30 June 2023 658,114
AMORTISATION
At 1 July 2022 368,384
Amortisation for year 32,906
At 30 June 2023 401,290
NET BOOK VALUE

At 30 June 2023 256,824
At 30 June 2022 289,730

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2022 524,455
Additions 4,454
At 30 June 2023 528,909
DEPRECIATION
At 1 July 2022 65,205
Charge for year 11,211
At 30 June 2023 76,416
NET BOOK VALUE
At 30 June 2023 452,493
At 30 June 2022 459,250

Rowett Insurance Broking Limited (Registered number: 04998729)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 July 2022
and 30 June 2023 13,441
NET BOOK VALUE
At 30 June 2023 13,441
At 30 June 2022 13,441

7. RESERVES
Revaluation
reserve
£   
At 1 July 2022
and 30 June 2023 125,000

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022:

2023 2022
£    £   
Gordon Glyn Rowett
Balance outstanding at start of year 142,375 166,131
Amounts advanced 152,402 53,884
Amounts repaid (123,693 ) (77,640 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 171,084 142,375