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COMPANY REGISTRATION NUMBER: 01671109
J & J Insurance & Financial Consultants Ltd
Filleted Unaudited Financial Statements
31 December 2023
J & J Insurance & Financial Consultants Ltd
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
28,109
10,786
Investments
6
102,000
102,000
---------
---------
130,109
112,786
Current assets
Debtors
7
347,765
330,703
Cash at bank and in hand
838,489
565,876
------------
---------
1,186,254
896,579
Creditors: amounts falling due within one year
8
194,523
110,038
------------
---------
Net current assets
991,731
786,541
------------
---------
Total assets less current liabilities
1,121,840
899,327
Creditors: amounts falling due after more than one year
9
24,913
34,798
------------
---------
Net assets
1,096,927
864,529
------------
---------
Capital and reserves
Called up share capital
11,500
11,500
Profit and loss account
1,085,427
853,029
------------
---------
Shareholders funds
1,096,927
864,529
------------
---------
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 statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
J & J Insurance & Financial Consultants Ltd
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 5 August 2024 , and are signed on behalf of the board by:
J S BAHD
Director
Company registration number: 01671109
J & J Insurance & Financial Consultants Ltd
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 280, NORTHFIELD AVENUE, EALING, LONDON, W5 4UB, UK.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. 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.
Tangible assets
Tangible assets are initially recorded at cost.
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:
Building Improvement
-
20% reducing balance
Fixtures & fittings
-
20% reducing balance
Equipment
-
20% reducing balance
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2022: 7 ).
5. Tangible assets
Land and buildings
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 January 2023
39,181
84,293
123,474
Additions
1,720
22,631
24,351
--------
--------
--------
---------
At 31 December 2023
39,181
86,013
22,631
147,825
--------
--------
--------
---------
Depreciation
At 1 January 2023
36,593
76,095
112,688
Charge for the year
518
1,984
4,526
7,028
--------
--------
--------
---------
At 31 December 2023
37,111
78,079
4,526
119,716
--------
--------
--------
---------
Carrying amount
At 31 December 2023
2,070
7,934
18,105
28,109
--------
--------
--------
---------
At 31 December 2022
2,588
8,198
10,786
--------
--------
--------
---------
6. Investments
Other investments other than loans
£
Cost
At 1 January 2023 and 31 December 2023
102,000
---------
Impairment
At 1 January 2023 and 31 December 2023
---------
Carrying amount
At 31 December 2023
102,000
---------
At 31 December 2022
102,000
---------
7. Debtors
2023
2022
£
£
Trade debtors
339,331
110,269
Other debtors
8,434
220,434
---------
---------
347,765
330,703
---------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
175,495
101,763
Social security and other taxes
13,942
4,067
Other creditors
5,086
4,208
---------
---------
194,523
110,038
---------
---------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bounce back loan
24,913
34,798
--------
--------
10. Directors' advances, credits and guarantees
Directors loan account relates to directors current account.
11. Related party transactions
The company was under the control of MR J S BAHD throughout the current and previous year. MR J S BAHD is the managing director.