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REGISTERED NUMBER: 03306678 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Credential Insurance Brokers Limited

Credential Insurance Brokers Limited (Registered number: 03306678)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Credential Insurance Brokers Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: P S W Lau





REGISTERED OFFICE: 620A Kings Road
London
SW6 2DU





REGISTERED NUMBER: 03306678 (England and Wales)






Credential Insurance Brokers Limited (Registered number: 03306678)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 25,383 28,556
Tangible assets 5 32,165 41,888
57,548 70,444

CURRENT ASSETS
Debtors 6 77,372 15,669
Cash at bank 293,549 282,067
370,921 297,736
CREDITORS
Amounts falling due within one year 7 150,360 101,703
NET CURRENT ASSETS 220,561 196,033
TOTAL ASSETS LESS CURRENT
LIABILITIES

278,109

266,477

CAPITAL AND RESERVES
Called up share capital 12,500 12,500
Capital redemption reserve 37,500 37,500
Retained earnings 228,109 216,477
SHAREHOLDERS' FUNDS 278,109 266,477

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Credential Insurance Brokers Limited (Registered number: 03306678)

Balance Sheet - continued
30 June 2024


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 22 July 2024 and were signed by:





P S W Lau - Director


Credential Insurance Brokers Limited (Registered number: 03306678)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Credential Insurance Brokers 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

Credential Insurance Brokers Limited (Registered number: 03306678)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 42,229
AMORTISATION
At 1 July 2023 13,673
Charge for year 3,173
At 30 June 2024 16,846
NET BOOK VALUE
At 30 June 2024 25,383
At 30 June 2023 28,556

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 6,137 3,800 53,135 13,929 77,001
Additions - - - 1,000 1,000
At 30 June 2024 6,137 3,800 53,135 14,929 78,001
DEPRECIATION
At 1 July 2023 6,124 3,574 13,284 12,131 35,113
Charge for year 3 57 9,963 700 10,723
At 30 June 2024 6,127 3,631 23,247 12,831 45,836
NET BOOK VALUE
At 30 June 2024 10 169 29,888 2,098 32,165
At 30 June 2023 13 226 39,851 1,798 41,888

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Premiums due from clients 77,372 15,669

Credential Insurance Brokers Limited (Registered number: 03306678)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Premiums due to insurers 119,463 70,716
Tax 8,641 9,032
Social security and other taxes 3,339 50
Other creditors 197 185
Directors' current accounts 15,000 18,000
Accrued expenses 3,720 3,720
150,360 101,703