REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 29 February 2024 |
for |
Anthony Wakefield and Company Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 29 February 2024 |
for |
Anthony Wakefield and Company Limited |
Anthony Wakefield and Company Limited (Registered number: 01756254) |
Contents of the Financial Statements |
for the Year Ended 29 February 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Anthony Wakefield and Company Limited |
Company Information |
for the Year Ended 29 February 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Old Printers Yard |
156 South Street |
Dorking |
Surrey |
RH4 2HF |
Anthony Wakefield and Company Limited (Registered number: 01756254) |
Balance Sheet |
29 February 2024 |
29.2.24 | 28.2.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
Tangible assets | 6 |
Investments | 7 |
CURRENT ASSETS |
Debtors | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 12 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
Anthony Wakefield and Company Limited (Registered number: 01756254) |
Balance Sheet - continued |
29 February 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Anthony Wakefield and Company Limited (Registered number: 01756254) |
Notes to the Financial Statements |
for the Year Ended 29 February 2024 |
1. | STATUTORY INFORMATION |
Anthony Wakefield and Company Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
General brokerage and fees are taken as income to the profit and loss account to reflect the performance of the services of the company regardless of the date of the debit note. |
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 rates in order to write off each asset over its estimated life. |
Freehold Property | - | in accordance with the property |
Fixtures & Fittings | - | 10% reducing balance |
Computer Equipment | - | 25% on cost |
With the exception of freehold property, tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Freehold land and buildings are shown in the balance sheet at deemed cost resulting from a previous GAAP valuation in accordance with the transitional provisions of FRS102 Section 1A. |
At each reporting date, assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and an impairment loss is recognised immediately in the income statement. |
Anthony Wakefield and Company Limited (Registered number: 01756254) |
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2024 |
3. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
Insurance brokerage assets and liabilities |
The company acts as an agent in brokerage for the insurance risks of its clients and is not liable as a principle for premiums due to underwriters, nor for the claims payable to clients. |
Notwithstanding the company's legal relationship with clients and underwriters, and since in practice premium and claim monies are usually accounted for by insurance intermediaries, it has followed generally accepted accounting practice by showing cash, debtors and creditors relating to insurance business as assets and liabilities of the company itself. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 March 2023 |
and 29 February 2024 |
AMORTISATION |
At 1 March 2023 |
and 29 February 2024 |
NET BOOK VALUE |
At 29 February 2024 |
At 28 February 2023 |
Anthony Wakefield and Company Limited (Registered number: 01756254) |
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2024 |
6. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and | Computer |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 March 2023 |
Additions |
At 29 February 2024 |
DEPRECIATION |
At 1 March 2023 |
Charge for year |
At 29 February 2024 |
NET BOOK VALUE |
At 29 February 2024 |
At 28 February 2023 |
Cost or valuation at 29 February 2024 is represented by: |
Fixtures |
Freehold | and | Computer |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
Valuation in 2008 | 50,575 | - | - | 50,575 |
Valuation in 2015 | (45,000 | ) | - | - | (45,000 | ) |
Cost | 99,425 | 144,155 | 78,951 | 322,531 |
105,000 | 144,155 | 78,951 | 328,106 |
Freehold Property was valued on an open market basis basis on 24 February 2015 by the directors . |
7. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 March 2023 |
and 29 February 2024 |
NET BOOK VALUE |
At 29 February 2024 |
At 28 February 2023 |
Anthony Wakefield and Company Limited (Registered number: 01756254) |
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2024 |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.2.24 | 28.2.23 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Prepayments and Accrued Income |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.2.24 | 28.2.23 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
Other creditors |
Accruals and deferred income |
Accrued expenses |
10. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
29.2.24 | 28.2.23 |
£ | £ |
Within one year |
Between one and five years |
11. | SECURED DEBTS |
Bank loans and overdrafts, with Lloyds Plc, are secured by a debenture including a fixed and floating charge over the assets of the company both present and future dated 13 June 1997. |
12. | RESERVES |
Revaluation |
reserve |
£ |
At 1 March 2023 |
and 29 February 2024 |
13. | CONTINGENT LIABILITIES |
There is a cross company guarantee in existence between this company and its subsidiary undertaking, Connoisseur Policies Limited which is limited to £25,000 in favour of National Westminster Bank. |
Anthony Wakefield and Company Limited (Registered number: 01756254) |
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2024 |
14. | CASH AT BANK |
Included in cash balances held by the company, is an amount of £89,096 (2023 - £539,043) which is held on behalf of clients. |