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REGISTERED NUMBER: 04540484 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Bruford & Vallance
Insurance Services Limited

Bruford & Vallance
Insurance Services Limited (Registered number: 04540484)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Bruford & Vallance
Insurance Services Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: J B Brown
J L Mayled
A Mayled



SECRETARY: A Mayled



REGISTERED OFFICE: 45 St James Street
Taunton
Somerset
TA1 1JR



REGISTERED NUMBER: 04540484 (England and Wales)



ACCOUNTANTS: A C Mole LLP
Chartered Accountants
Stafford House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX



BANKERS: The Royal Bank of Scotland
7 Fore Street
Taunton
Somerset
TA1 1HT

Bruford & Vallance
Insurance Services Limited (Registered number: 04540484)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 25,648 24,082
25,648 24,082

CURRENT ASSETS
Debtors 6 35,727 16,728
Cash at bank 358,086 351,722
393,813 368,450
CREDITORS
Amounts falling due within one year 7 232,313 197,059
NET CURRENT ASSETS 161,500 171,391
TOTAL ASSETS LESS CURRENT
LIABILITIES

187,148

195,473

PROVISIONS FOR LIABILITIES 5,996 5,352
NET ASSETS 181,152 190,121

CAPITAL AND RESERVES
Called up share capital 8 1,111 1,111
Retained earnings 180,041 189,010
SHAREHOLDERS' FUNDS 181,152 190,121

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 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 16 September 2024 and were signed on its behalf by:





J L Mayled - Director


Bruford & Vallance
Insurance Services Limited (Registered number: 04540484)

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

1. STATUTORY INFORMATION

Bruford & Vallance Insurance Services 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 represents commissions and fees receivable during the year in respect of general insurance mediation activities.

Goodwill
Goodwill acquired on incorporation is being written off on a straight line basis over its estimated useful life of twenty 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 etc - 15% on reducing balance

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.

Insurance debtors and creditors
The company acts as agent in broking the insurable risks of clients. The company has followed generally accepted accounting practice for insurance broking by showing debtors, creditors and cash balances relating to insurance business as assets and liabilities of the company itself. This recognises that the company is entitled to retain the investment income on any cash flows arising from these transactions.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

Bruford & Vallance
Insurance Services Limited (Registered number: 04540484)

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 242,456
AMORTISATION
At 1 July 2023
and 30 June 2024 242,456
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 138,019
Additions 6,087
At 30 June 2024 144,106
DEPRECIATION
At 1 July 2023 113,937
Charge for year 4,521
At 30 June 2024 118,458
NET BOOK VALUE
At 30 June 2024 25,648
At 30 June 2023 24,082

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Insurance debtors 30,690 13,129
Other debtors 2,519 1,224
Prepayments and accrued income 2,518 2,375
35,727 16,728

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Insurance creditors 172,759 147,690
Corporation tax 37,607 24,063
Social security and other taxes 2,193 1,985
Accruals and deferred income 19,754 23,321
232,313 197,059

Bruford & Vallance
Insurance Services Limited (Registered number: 04540484)

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

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,111 Ordinary £1 1,111 1,111