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REGISTERED NUMBER: 01171052 (England and Wales)















GOLDCREST INSURANCE SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2023






GOLDCREST INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 01171052)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GOLDCREST INSURANCE SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2023







DIRECTORS: Mr E J Herbert
Mrs C J Herbert
Mr M J Herbert





SECRETARY: Mr E J Herbert





REGISTERED OFFICE: Second Floor
34 Lime Street
London
EC3M 7AT





REGISTERED NUMBER: 01171052 (England and Wales)





ACCOUNTANTS: Sinclairs Bartrum Lerner
Chartered Accountants
Second Floor
34 Lime Street
London
EC3M 7AT

GOLDCREST INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 01171052)

BALANCE SHEET
30TH JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,623 22,170
Investment property 5 1,052,878 1,052,878
1,073,501 1,075,048

CURRENT ASSETS
Debtors 6 20,055 26,596
Cash at bank and in hand 145,143 154,020
165,198 180,616
CREDITORS
Amounts falling due within one year 7 122,361 110,323
NET CURRENT ASSETS 42,837 70,293
TOTAL ASSETS LESS CURRENT LIABILITIES 1,116,338 1,145,341

PROVISIONS FOR LIABILITIES 8 48,931 37,178
NET ASSETS 1,067,407 1,108,163

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 348,227 348,227
Fair value reserve (38,757 ) (27,122 )
Retained earnings 757,837 786,958
SHAREHOLDERS' FUNDS 1,067,407 1,108,163

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th 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.

GOLDCREST INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 01171052)

BALANCE SHEET - continued
30TH JUNE 2023


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

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 22nd February 2024 and were signed on its behalf by:





Mr E J Herbert - Director


GOLDCREST INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 01171052)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023


1. STATUTORY INFORMATION

Goldcrest Insurance Services 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable.
The turnover of the company represents consultancy services charges receivable..

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% straight line on cost
Fixtures and fittings - 15% straight line on cost

Investment properties
Investment properties are shown at their fair value. Any adjustment to the fair value of the investment properties is recognised in the profit and loss account for the year.

In accordance with FRS 102 1A no depreciation is provided in respect of freehold properties held as investments. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. Such properties are held for investment and not for consumption and the directors consider that to depreciate them would not give a true and fair view. Depreciation is only one of the many elements reflected in the annual valuation of properties and accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified. The directors consider that this policy results in the financial statements giving a true and fair view.

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.


GOLDCREST INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 01171052)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023


2. ACCOUNTING POLICIES - continued
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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1st July 2022
and 30th June 2023 42,357 4,666 47,023
DEPRECIATION
At 1st July 2022 22,687 2,166 24,853
Charge for year 847 700 1,547
At 30th June 2023 23,534 2,866 26,400
NET BOOK VALUE
At 30th June 2023 18,823 1,800 20,623
At 30th June 2022 19,670 2,500 22,170

GOLDCREST INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 01171052)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st July 2022
and 30th June 2023 1,052,878
NET BOOK VALUE
At 30th June 2023 1,052,878
At 30th June 2022 1,052,878

Fair value at 30th June 2023 is represented by:
£   
Valuation in 2019 353,513
Valuation in 2020 (33,485 )
Cost 732,850
1,052,878

The fair value of the investment properties at the balance sheet date, in the opinion of the directors was £1,052,878.
If the investment properties were sold for the revalued amounts at the balance sheet date, there would be a tax liability of £48,481.

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Other debtors 17,894 26,596

Amounts falling due after more than one year:
Other debtors 2,161 -

Aggregate amounts 20,055 26,596

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 4,072 9,155
Other creditors 118,289 101,168
122,361 110,323

GOLDCREST INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 01171052)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023


8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 48,931 37,178

Deferred
tax
£   
Balance at 1st July 2022 37,178
Provided during year 11,753
Balance at 30th June 2023 48,931

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £35,000 (2022 - £60,000) were paid to the directors .

Herald Insurance Services Limited is considered a related party, as directors E J Herbert and Mrs C J Herbert are also directors and shareholders in that company.

During the year -Herald Insurance Services Limited fully repaid loan outstanding to the company of £20,000.
Loan outstanding at balance sheet date was £Nil (2022: £20,000).
This loan was interest free, unsecured and payable on demand.