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Cotson Reddish & Company (Insurance Brokers) Ltd
Registered Number:01184957
For the year ended 31 July 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 31 July 2023
Cotson Reddish & Company (Insurance Brokers) Ltd
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
01184957
As at 31 July 2023
Cotson Reddish & Company (Insurance Brokers) Ltd
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
236,910
240,141
2
236,910
240,141
Current assets
Trade and other receivables
6,473
15,195
3
32,795
Cash and cash equivalents
49,175
64,370
39,268
Trade and other payables: amounts falling due within one year
(58,266)
(57,669)
4
(18,998)
6,701
Net current assets
Total assets less current liabilities
243,611
221,143
243,611
Net assets
221,143
Capital and reserves
Called up share capital
1,100
1,100
Revaluation reserve
161,489
163,483
5
Retained earnings
81,022
56,560
243,611
221,143
Shareholders' funds
For the year ended 31 July 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr D Cotson Director
These financial statements were approved and authorised for issue by the Board on 18 April 2024 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 July 2023
Cotson Reddish & Company (Insurance Brokers) Ltd
Notes to the Financial Statements
Statutory Information
Cotson Reddish & Company (Insurance Brokers) Ltd is a private limited company, limited by shares, domiciled in England and
Wales, registration number 01184957.
Registered address:
The Old Bank
1 Albert Road
Saltaire
Shipley
BD18 4NR
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting
Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
The financial statements have been prepared under the historical costs convention as modified by the revaluation of certain
assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and buildings
1% Straight line
25% Reducing balance
Computer equipment
10% Reducing balance
Fixtures and fittings
The company''s freehold properties were professionally valued in 2003. This valuation has been reduced by subsequent
depreciation. Under the transitional provisions of the Financial Reporting Standard for Smaller Entities (effective January
2015) the properties continue to be stated at that valuation less accumulated depreciation to date and that valuation has not
been updated.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a method giving a constant rate of return on the balance outstanding.
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5
For the year ended 31 July 2023
Cotson Reddish & Company (Insurance Brokers) Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
Land and
buildings
£
£
£
£
Cost or valuation
At 01 August 2022
394,982
61,192
33,790
300,000
At 31 July 2023
300,000
33,790
61,192
394,982
Provision for depreciation and impairment
At 01 August 2022
154,841
61,107
31,686
62,048
Charge for year
3,231
21
210
3,000
At 31 July 2023
158,072
61,128
31,896
65,048
At 31 July 2023
Net book value
234,952
1,894
64
236,910
At 31 July 2022
237,952
2,104
85
240,141
In respect of certain fixed assets stated at valuations, the comparable historical cost and depreciation values are as follows:
Historical cost
£
100,625
At 01 August 2022
Depreciation
24,144
At 01 August 2022
At 31 July 2023
24,144
76,481
Net historical cost value:
At 31 July 2022
At 31 July 2023
76,481
3. Trade and other receivables
2022
2023
£
£
Trade debtors
13,364
4,177
Other debtors
1,831
2,296
6,473
15,195
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6
For the year ended 31 July 2023
Cotson Reddish & Company (Insurance Brokers) Ltd
Notes to the Financial Statements Continued
4. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Trade creditors
46,659
32,215
Taxation and social security
4,598
1,900
Other creditors
6,412
24,151
57,669
58,266
5. Reserves
Total
£
Revaluation reserve at 01 August 2022
163,483
Transfer to profit and loss account
(1,994)
161,489
Revaluation reserve at 31 July 2023
6. Guarantees and other financial commitments
Lease commitments
At 31 July 2023 the company had annual commitments under non-cancellable operating leases as set out below:
2022
£
2023
£
Operating leases which expire:
243
243
Within 2 to 5 years
243
243
7. Average number of persons employed
During the year the average number of employees was 3 (2022 : 3)
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