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REGISTERED NUMBER: 01351655 (England and Wales)






BROMWICH LIFE & GENERAL INSURANCE
SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






BROMWICH LIFE & GENERAL INSURANCE
SERVICES LIMITED (REGISTERED NUMBER: 01351655)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BROMWICH LIFE & GENERAL INSURANCE
SERVICES LIMITED

COMPANY INFORMATION
for the year ended 31 January 2024







DIRECTOR: K J Nuttall





REGISTERED OFFICE: 7 High Bullen
Upper High Street
Wednesbury
West Midlands
WS10 7HQ





REGISTERED NUMBER: 01351655 (England and Wales)





ACCOUNTANTS: Weatherer Bailey Bragg
Chartered Accountants
100 Boldmere Road
Sutton Coldfield
West Midlands
B73 5UB

BROMWICH LIFE & GENERAL INSURANCE
SERVICES LIMITED (REGISTERED NUMBER: 01351655)

BALANCE SHEET
31 January 2024

31/1/24 31/1/23
Notes £    £   
CURRENT ASSETS
Debtors 5 108,509 70,181
Cash at bank and in hand 1,255 42,097
109,764 112,278
CREDITORS
Amounts falling due within one year 6 39,454 57,106
NET CURRENT ASSETS 70,310 55,172
TOTAL ASSETS LESS CURRENT
LIABILITIES

70,310

55,172

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 70,210 55,072
SHAREHOLDERS' FUNDS 70,310 55,172

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 3 April 2024 and were signed by:





K J Nuttall - Director


BROMWICH LIFE & GENERAL INSURANCE
SERVICES LIMITED (REGISTERED NUMBER: 01351655)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 January 2024

1. STATUTORY INFORMATION

Bromwich Life & General 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.

The company ceased to trade on 31 October 2023 and is in the process of being wound up.

Turnover
Turnover represents brokerage commissions and fees, which are recognised in the period in which the transaction takes place.

Alterations in brokerage commissions and fees arising from return and additional premiums and adjustments are taken into account as and when they occur.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on 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.

Pension costs and other post-retirement benefits
The company operates a work place pension scheme in which all employees are offered the option to opt in. Contributions payable for the year are charged in the profit and loss account.

BROMWICH LIFE & GENERAL INSURANCE
SERVICES LIMITED (REGISTERED NUMBER: 01351655)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 February 2023 3,888
Disposals (3,888 )
At 31 January 2024 -
DEPRECIATION
At 1 February 2023 3,888
Eliminated on disposal (3,888 )
At 31 January 2024 -
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
£    £   
Trade debtors - 15,674
Amounts owed by parent undertaking 107,321 48,025
Directors' loan accounts - 5,294
S455 Tax recoverable 1,188 1,188
108,509 70,181

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
£    £   
Trade creditors - 15,836
Amounts owed to parent undertaking 37,000 37,000
Corporation tax payable 2,454 1,254
Other creditors - 3,016
39,454 57,106

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/1/24 31/1/23
value: £    £   
100 Ordinary £1 100 100

BROMWICH LIFE & GENERAL INSURANCE
SERVICES LIMITED (REGISTERED NUMBER: 01351655)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

31/1/24 31/1/23
£    £   
C J Fordham
Balance outstanding at start of year 5,294 5,294
Amounts repaid (5,294 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 5,294

No interest is charged on loans to directors. Amounts are repayable on demand.

9. RELATED PARTY DISCLOSURES

During the year, management charges were paid amounting to £18,750 (2023: £25,000) to a company that holds shares in Bromwich Life & General Insurance Services Limited.

10. PARENT COMPANY

Bromwich Insurance Bureau Limited is regarded as the parent company. Bromwich Insurance Consultants Limited is regarded at the ultimate parent company. All group companies operate from the same registered office address.