IRIS Accounts Production v24.2.0.383 03874410 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh038744102022-12-31038744102023-12-31038744102023-01-012023-12-31038744102021-12-31038744102022-01-012022-12-31038744102022-12-3103874410ns15:EnglandWales2023-01-012023-12-3103874410ns14:PoundSterling2023-01-012023-12-3103874410ns10:Director12023-01-012023-12-3103874410ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3103874410ns10:SmallEntities2023-01-012023-12-3103874410ns10:AuditExemptWithAccountantsReport2023-01-012023-12-3103874410ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3103874410ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3103874410ns10:FullAccounts2023-01-012023-12-3103874410ns10:Director22023-01-012023-12-3103874410ns10:CompanySecretary12023-01-012023-12-3103874410ns10:RegisteredOffice2023-01-012023-12-3103874410ns5:CurrentFinancialInstruments2023-12-3103874410ns5:CurrentFinancialInstruments2022-12-3103874410ns5:ShareCapital2023-12-3103874410ns5:ShareCapital2022-12-3103874410ns5:RetainedEarningsAccumulatedLosses2023-12-3103874410ns5:RetainedEarningsAccumulatedLosses2022-12-3103874410ns5:FurnitureFittings2023-01-012023-12-3103874410ns5:ComputerEquipment2023-01-012023-12-3103874410ns5:FurnitureFittings2022-12-3103874410ns5:ComputerEquipment2022-12-3103874410ns5:FurnitureFittings2023-12-3103874410ns5:ComputerEquipment2023-12-3103874410ns5:FurnitureFittings2022-12-3103874410ns5:ComputerEquipment2022-12-3103874410ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3103874410ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3103874410ns5:WithinOneYear2023-12-3103874410ns5:WithinOneYear2022-12-31
REGISTERED NUMBER: 03874410 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

GLOBAL REINSURANCE CONSULTANTS LIMITED

GLOBAL REINSURANCE CONSULTANTS LIMITED (REGISTERED NUMBER: 03874410)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Accountants' Report 5

GLOBAL REINSURANCE CONSULTANTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: P S Matthews
K M Matthews





SECRETARY: K M Matthews





REGISTERED OFFICE: 20 Havelock Road
Hastings
East Sussex
TN34 1BP





REGISTERED NUMBER: 03874410 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP

GLOBAL REINSURANCE CONSULTANTS LIMITED (REGISTERED NUMBER: 03874410)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 3,529 4,543

CURRENT ASSETS
Debtors 6 15,674 26,588
Cash at bank and in hand 36,434 35,687
52,108 62,275
CREDITORS
Amounts falling due within one year 7 47,524 9,998
NET CURRENT ASSETS 4,584 52,277
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,113

56,820

PROVISIONS FOR LIABILITIES 191 278
NET ASSETS 7,922 56,542

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 7,822 56,442
SHAREHOLDERS' FUNDS 7,922 56,542

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

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 Board of Directors and authorised for issue on 5 September 2024 and were signed on its behalf by:





P S Matthews - Director


GLOBAL REINSURANCE CONSULTANTS LIMITED (REGISTERED NUMBER: 03874410)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Global Reinsurance Consultants 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The directors have made an assessment about the company's ability to continue as a going concern and they do not consider there to be any material uncertainties. As a result they have adopted the going concern basis of accounting.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

GLOBAL REINSURANCE CONSULTANTS LIMITED (REGISTERED NUMBER: 03874410)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 20,953 54,423 75,376
DEPRECIATION
At 1 January 2023 17,257 53,576 70,833
Charge for year 554 460 1,014
At 31 December 2023 17,811 54,036 71,847
NET BOOK VALUE
At 31 December 2023 3,142 387 3,529
At 31 December 2022 3,696 847 4,543

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 11,408 18,531
Other debtors 4,266 8,057
15,674 26,588

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 178 -
Trade creditors 47 (1,993 )
Amounts owed to group undertakings 12,513 -
Taxation and social security 1,568 652
Other creditors 33,218 11,339
47,524 9,998

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 8,710 8,664

9. RELATED PARTY DISCLOSURES

At the year end, the company owed the directors £11,815 (2022: £11,815). This is repayable on demand and interest is being added to this balance on a monthly basis.

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
GLOBAL REINSURANCE CONSULTANTS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Global Reinsurance Consultants Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Global Reinsurance Consultants Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Global Reinsurance Consultants Limited and state those matters that we have agreed to state to the Board of Directors of Global Reinsurance Consultants Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Global Reinsurance Consultants Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Global Reinsurance Consultants Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Global Reinsurance Consultants Limited. You consider that Global Reinsurance Consultants Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Global Reinsurance Consultants Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP


5 September 2024