1 false 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 2023 - FRS102_2023 59,273 59,273 11,840 1,665 13,505 47,433 xbrli:pure xbrli:shares iso4217:GBP 04615287 2023-01-01 2024-06-30 04615287 2024-06-30 04615287 2022-12-31 04615287 2022-01-01 2022-12-31 04615287 2022-12-31 04615287 2021-12-31 04615287 core:PlantMachinery 2023-01-01 2024-06-30 04615287 core:FurnitureFittings 2023-01-01 2024-06-30 04615287 bus:Director1 2023-01-01 2024-06-30 04615287 core:MotorVehicles 2022-12-31 04615287 core:WithinOneYear 2022-12-31 04615287 core:MotorVehicles 2023-01-01 2024-06-30 04615287 core:ShareCapital 2024-06-30 04615287 core:ShareCapital 2022-12-31 04615287 core:RetainedEarningsAccumulatedLosses 2024-06-30 04615287 core:RetainedEarningsAccumulatedLosses 2022-12-31 04615287 core:MotorVehicles 2022-12-31 04615287 bus:SmallEntities 2023-01-01 2024-06-30 04615287 bus:AuditExemptWithAccountantsReport 2023-01-01 2024-06-30 04615287 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2024-06-30 04615287 bus:PrivateLimitedCompanyLtd 2023-01-01 2024-06-30 04615287 bus:FullAccounts 2023-01-01 2024-06-30
COMPANY REGISTRATION NUMBER: 04615287
BISHOP CALWAY INSURANCE SERVICES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 June 2024
BISHOP CALWAY INSURANCE SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION
30 June 2024
30 Jun 24
31 Dec 22
Note
£
£
£
Fixed assets
Tangible assets
4
47,433
Current assets
Debtors
5
289,873
Cash at bank and in hand
446,698
----
----------
736,571
Creditors: amounts falling due within one year
6
( 71,420)
----
----------
Net current assets
665,151
----
----------
Total assets less current liabilities
712,584
----
----------
Capital and reserves
Called up share capital
150
150
Profit and loss account
( 150)
712,434
----
----------
Shareholders funds
712,584
----
----------
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 period ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
BISHOP CALWAY INSURANCE SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 12 August 2024 , and are signed on behalf of the board by:
Mr G G Bishop
Director
Company registration number: 04615287
BISHOP CALWAY INSURANCE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 1 JANUARY 2023 TO 30 JUNE 2024
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is 168 Church Road, Hove, East Sussex, BN3 2DL. The principal place of business is First Floor, 81 Church Road, Hove, East Sussex, BN3 2BB.
2. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company sold its goodwill, business claims, business information, computer systems, intellectual property rights, communications contacts, show gazebo and trailer on 11th May 2022.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
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, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Website
-
33% reducing balance
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
Classic Cars
Equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
3. Employee numbers
The average number of persons employed by the company during the period amounted to 1 (2022: 11 ).
4. Tangible assets
Motor vehicles
Total
£
£
Cost
At 1 January 2023
59,273
59,273
Disposals
( 59,273)
( 59,273)
---------
---------
At 30 June 2024
---------
---------
Depreciation
At 1 January 2023
11,840
11,840
Charge for the period
1,665
1,665
Disposals
( 13,505)
( 13,505)
---------
---------
At 30 June 2024
---------
---------
Carrying amount
At 30 June 2024
---------
---------
At 31 December 2022
47,433
47,433
---------
---------
Not all motor vehicles are deemed to depreciate in value as they relate to classic cars that will hold their value.
5. Debtors
30 Jun 24
31 Dec 22
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
13,258
Other debtors
276,615
----
----------
289,873
----
----------
6. Creditors: amounts falling due within one year
30 Jun 24
31 Dec 22
£
£
Corporation tax
70,486
Other creditors
934
----
---------
71,420
----
---------
7. Director's advances, credits and guarantees
There were no loans from the directors at the year end.
8. Related party transactions
The company is under the control of Bishop Callway Holdings, a company incorporated in England and Wales.