Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31No description of principal activity2023-04-01false6662truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01590566 2023-04-01 2024-03-31 01590566 2022-04-01 2023-03-31 01590566 2024-03-31 01590566 2023-03-31 01590566 c:Director1 2023-04-01 2024-03-31 01590566 d:FurnitureFittings 2023-04-01 2024-03-31 01590566 d:FurnitureFittings 2024-03-31 01590566 d:FurnitureFittings 2023-03-31 01590566 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01590566 d:OfficeEquipment 2023-04-01 2024-03-31 01590566 d:OfficeEquipment 2024-03-31 01590566 d:OfficeEquipment 2023-03-31 01590566 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01590566 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01590566 d:Goodwill 2024-03-31 01590566 d:Goodwill 2023-03-31 01590566 d:CurrentFinancialInstruments 2024-03-31 01590566 d:CurrentFinancialInstruments 2023-03-31 01590566 d:Non-currentFinancialInstruments 2024-03-31 01590566 d:Non-currentFinancialInstruments 2023-03-31 01590566 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 01590566 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 01590566 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 01590566 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 01590566 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 01590566 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 01590566 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 01590566 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 01590566 d:ShareCapital 2024-03-31 01590566 d:ShareCapital 2023-03-31 01590566 d:SharePremium 2024-03-31 01590566 d:SharePremium 2023-03-31 01590566 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 01590566 d:RetainedEarningsAccumulatedLosses 2024-03-31 01590566 d:RetainedEarningsAccumulatedLosses 2023-03-31 01590566 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 01590566 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 01590566 d:OtherDeferredTax 2024-03-31 01590566 d:OtherDeferredTax 2023-03-31 01590566 c:OrdinaryShareClass1 2023-04-01 2024-03-31 01590566 c:OrdinaryShareClass1 2024-03-31 01590566 c:OrdinaryShareClass1 2023-03-31 01590566 c:FRS102 2023-04-01 2024-03-31 01590566 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 01590566 c:FullAccounts 2023-04-01 2024-03-31 01590566 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01590566 d:WithinOneYear 2024-03-31 01590566 d:WithinOneYear 2023-03-31 01590566 d:BetweenOneFiveYears 2024-03-31 01590566 d:BetweenOneFiveYears 2023-03-31 01590566 2 2023-04-01 2024-03-31 01590566 6 2023-04-01 2024-03-31 01590566 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 01590566










CALEB ROBERTS INSURANCE SERVICES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
CALEB ROBERTS INSURANCE SERVICES LIMITED
REGISTERED NUMBER: 01590566

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 6 
129,382
143,043

Investments
 7 
100
100

  
129,482
143,143

Current assets
  

Debtors: amounts falling due within one year
 8 
594,353
291,497

Cash at bank and in hand
 9 
2,585,546
2,479,753

  
3,179,899
2,771,250

Creditors: amounts falling due within one year
 10 
(2,283,194)
(2,030,168)

Net current assets
  
 
 
896,705
 
 
741,082

Total assets less current liabilities
  
1,026,187
884,225

Creditors: amounts falling due after more than one year
 11 
(19,816)
(30,068)

Provisions for liabilities
  

Deferred tax
 13 
(30,142)
(36,341)

  
 
 
(30,142)
 
 
(36,341)

Net assets
  
976,229
817,816


Capital and reserves
  

Called up share capital 
 14 
112
112

Share premium account
 15 
119,988
119,988

Profit and loss account
 15 
856,129
697,716

  
976,229
817,816


Page 1

 
CALEB ROBERTS INSURANCE SERVICES LIMITED
REGISTERED NUMBER: 01590566
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 August 2024.




H A Campbell
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
CALEB ROBERTS INSURANCE SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Caleb Roberts Insurance Services Limited, 01590566, is a private company, limited by shares, incorporated in England and Wales, with its registered office and principal place of business at Wylcwm House, Wylcwm Place, Knighton, Powys, LD7 1AE.
The principal activity of Caleb Roberts Insurance Services Ltd is that of an Insurance Broker.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
CALEB ROBERTS INSURANCE SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
CALEB ROBERTS INSURANCE SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
12.5%
Office equipment
-
12.5%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
CALEB ROBERTS INSURANCE SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations or future events that are believed to be reasonable under the circumstances.
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinion of the directors there are no estimates nor assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.


4.


Employees

The average monthly number of employees, including directors, during the year was 66 (2023 - 62).

Page 6

 
CALEB ROBERTS INSURANCE SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
486,027



At 31 March 2024

486,027



Amortisation


At 1 April 2023
486,027



At 31 March 2024

486,027



Net book value



At 31 March 2024
-



At 31 March 2023
-



Page 7

 
CALEB ROBERTS INSURANCE SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
253,615
435,517
689,132


Additions
2,622
1,987
4,609



At 31 March 2024

256,237
437,504
693,741



Depreciation


At 1 April 2023
222,195
323,895
546,090


Charge for the year on owned assets
4,191
14,078
18,269



At 31 March 2024

226,386
337,973
564,359



Net book value



At 31 March 2024
29,851
99,531
129,382



At 31 March 2023
31,420
111,623
143,043


7.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2023
100



At 31 March 2024
100




Page 8

 
CALEB ROBERTS INSURANCE SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Debtors

2024
2023
£
£


Trade debtors
533,652
157,156

Amounts owed by group undertakings
388
493

Other debtors
18,440
98,396

Prepayments and accrued income
41,873
35,452

594,353
291,497



9.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,585,546
2,479,753

2,585,546
2,479,753


Included within the bank balance are monies held on behalf of clients totaling £1,849,289 (2023: £1,641,407)


10.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,184
9,931

Trade creditors
1,916,412
1,712,927

Amounts owed to group undertakings
55,134
21,084

Other taxation and social security
249,919
184,813

Other creditors
24,902
63,404

Accruals and deferred income
26,643
38,009

2,283,194
2,030,168


Included within trade creditors are client insurance related liabilities of £1,849,289 (2023: £1,641,407).
The amount of £10,184 (2023: £9,931) included in creditors due within one year is subject to a UK Government guarantee. The facility is provided through the Bounce Back Loan Scheme (BBLS),managed by the British Business Bank on behalf of and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy. The BBLS guarantee is provided to the lender.

Page 9

 
CALEB ROBERTS INSURANCE SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
19,816
30,068

19,816
30,068


The amount of £19,816 (2023: £30,068) included in creditors due after one year is subject to a UK Government guarantee. The facility is provided through the Bounce Back Loan Scheme (BBLS),managed by the British Business Bank on behalf of and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy. The BBLS guarantee is provided to the lender.


12.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,184
9,931


10,184
9,931

Amounts falling due 1-2 years

Bank loans
10,442
10,182


10,442
10,182

Amounts falling due 2-5 years

Bank loans
9,374
19,885


9,374
19,885


30,000
39,998


Page 10

 
CALEB ROBERTS INSURANCE SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

13.


Deferred taxation




2024


£






At beginning of year
36,341


Charged to profit or loss
(6,199)



At end of year
30,142

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
31,870
36,341

Pension creditor
(1,728)
-

30,142
36,341


14.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



112 (2023 - 112) Ordinary shares of £1.00 each
112
112



15.


Reserves

Profit and loss account

The profit and loss account represents the accumulated profits of the Company since incorporation less distributions made to shareholders


16.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £146,704 (2023: £139,544). Contributions totaling £16,559 (2023: £47,042) were payable to the fund at the balance sheet date and are included in creditors.

Page 11

 
CALEB ROBERTS INSURANCE SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

17.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
166,676
109,369

Later than 1 year and not later than 5 years
212,532
151,274

379,208
260,643


18.


Controlling party

The Company is under the control of Caleb Roberts Group Limited, a company incorporated in England and Wales and is registered at Wylcwm Place, Knighton, Powys, LD7 1AE.

 
Page 12