11 false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 340,000 340,000 43,042 6,630 6,608 43,064 32,766 4,301 6,607 30,460 12,604 10,276 xbrli:pure xbrli:shares iso4217:GBP 05560781 2023-01-01 2023-12-31 05560781 2023-12-31 05560781 2022-12-31 05560781 2022-01-01 2022-12-31 05560781 2022-12-31 05560781 core:NetGoodwill 2023-01-01 2023-12-31 05560781 core:FurnitureFittings 2023-01-01 2023-12-31 05560781 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 05560781 bus:OrdinaryShareClass3 2023-01-01 2023-12-31 05560781 bus:OrdinaryShareClass4 2023-01-01 2023-12-31 05560781 bus:OrdinaryShareClass5 2023-01-01 2023-12-31 05560781 bus:Director1 2023-01-01 2023-12-31 05560781 core:NetGoodwill 2023-12-31 05560781 core:FurnitureFittings 2022-12-31 05560781 core:FurnitureFittings 2023-12-31 05560781 core:WithinOneYear 2023-12-31 05560781 core:WithinOneYear 2022-12-31 05560781 core:ShareCapital 2023-12-31 05560781 core:ShareCapital 2022-12-31 05560781 core:RetainedEarningsAccumulatedLosses 2023-12-31 05560781 core:RetainedEarningsAccumulatedLosses 2022-12-31 05560781 core:FurnitureFittings 2022-12-31 05560781 bus:SmallEntities 2023-01-01 2023-12-31 05560781 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 05560781 bus:FullAccounts 2023-01-01 2023-12-31 05560781 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05560781 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05560781 bus:AllOrdinaryShares 2023-12-31 05560781 bus:AllOrdinaryShares 2022-12-31 05560781 bus:OrdinaryShareClass2 2023-12-31 05560781 bus:OrdinaryShareClass2 2022-12-31 05560781 bus:OrdinaryShareClass3 2023-12-31 05560781 bus:OrdinaryShareClass3 2022-12-31 05560781 bus:OrdinaryShareClass4 2023-12-31 05560781 bus:OrdinaryShareClass4 2022-12-31 05560781 bus:OrdinaryShareClass5 2023-12-31 05560781 bus:OrdinaryShareClass5 2022-12-31
COMPANY REGISTRATION NUMBER: 05560781
R. Todd Insurance Services Limited
Unaudited financial statements
31 December 2023
R. Todd Insurance Services Limited
Statement of financial position
31 December 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
6
12,604
10,276
Current assets
Debtors
7
208,440
210,123
Cash at bank and in hand
266,075
225,911
---------
---------
474,515
436,034
Creditors: Amounts falling due within one year
8
( 354,444)
( 311,997)
---------
---------
Net current assets
120,071
124,037
---------
---------
Total assets less current liabilities
132,675
134,313
Provisions
Taxation including deferred tax
( 3,398)
( 1,952)
---------
---------
Net assets
129,277
132,361
---------
---------
Capital and reserves
Called up share capital
9
100
100
Profit and loss account
129,177
132,261
---------
---------
Shareholders funds
129,277
132,361
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 18 March 2024 , and are signed on behalf of the board by:
R Todd
Director
Company registration number: 05560781
R. Todd Insurance Services Limited
Notes to the financial statements
Year ended 31 December 2023
1. General information
The company, registration number 05560781 , is a private company limited by shares, registered in England and Wales. The address of the registered office is 66 North Quay, Great Yarmouth, Norfolk, NR30 1HE. The place of business is 3 Church Lane, Gorleston, Great Yarmouth, Norfolk, NR31 7BE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Principal activity
The principal activity of the company during the period was that of an insurance broker.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered stated net of discounts.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office equipment
-
20% straight line
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of employees during the year was 11 (2022: 12 ).
5. Intangible assets
Goodwill
£
Cost
At 1 January 2023 and 31 December 2023
340,000
---------
Amortisation
At 1 January 2023 and 31 December 2023
340,000
---------
Carrying amount
At 31 December 2023
---------
At 31 December 2022
---------
6. Tangible assets
Fixtures and fittings
Total
£
£
Cost
At 1 January 2023
43,042
43,042
Additions
6,630
6,630
Disposals
( 6,608)
( 6,608)
-------
-------
At 31 December 2023
43,064
43,064
-------
-------
Depreciation
At 1 January 2023
32,766
32,766
Charge for the year
4,301
4,301
Disposals
( 6,607)
( 6,607)
-------
-------
At 31 December 2023
30,460
30,460
-------
-------
Carrying amount
At 31 December 2023
12,604
12,604
-------
-------
At 31 December 2022
10,276
10,276
-------
-------
7. Debtors
2023
2022
£
£
Trade debtors
197,060
198,810
Other debtors
11,380
11,313
---------
---------
208,440
210,123
---------
---------
8. Creditors: Amounts falling due within one year
2023
2022
£
£
Trade creditors
150,753
146,768
Social security and other taxes
81,791
53,816
Other creditors
121,900
111,413
---------
---------
354,444
311,997
---------
---------
9. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary "A" shares of £ 1 each
51
51
51
51
Ordinary "B" shares of £ 1 each
20
20
20
20
Ordinary "C" shares of £ 1 each
20
20
20
20
Ordinary "D" shares of £ 1 each
5
5
5
5
Ordinary "E" shares of £1 each
4
4
4
4
----
----
----
----
100
100
100
100
----
----
----
----