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Registration number: 13001520

Concorde Risk Services Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Concorde Risk Services Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Concorde Risk Services Ltd

Company Information

Directors

Mr I J Penfold

Mr J M Daniells

Mr J Holloway

Registered office

The Old Exchange
521 Wimborne Road East
Ferndown
Dorset
BH22 9NH

Accountants

Wilkinsons Accountants Limited
Chartered Certified Accountants
The Old Exchange
521 Wimborne Road East
Ferndown
Dorset
BH22 9NH

 

Concorde Risk Services Ltd

(Registration number: 13001520)
Balance Sheet as at 31 March 2024

Note

2024
£

(As restated)

2023
£

Fixed assets

 

Tangible assets

4

8,983

9,924

Investments

5

1,000

1,000

 

9,983

10,924

Current assets

 

Debtors

6

720,680

648,840

Cash at bank and in hand

 

402,445

142,854

 

1,123,125

791,694

Creditors: Amounts falling due within one year

7

(498,419)

(342,457)

Net current assets

 

624,706

449,237

Total assets less current liabilities

 

634,689

460,161

Provisions for liabilities

(29,501)

(27,255)

Net assets

 

605,188

432,906

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

604,188

431,906

Shareholders' funds

 

605,188

432,906

For the financial year ending 31 March 2024 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 September 2024 and signed on its behalf by:
 

.........................................
Mr I J Penfold
Director

 

Concorde Risk Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The Old Exchange
521 Wimborne Road East
Ferndown
Dorset
BH22 9NH

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity, and rounded to the nearest £1.

Reclassification of comparative amounts

It was agreed that the company would re-classify the presentation of fixed asset investments from current assets to fixed assets.

Revenue recognition

The turnover and profit before taxation is attributable to the Commissions and profits due from the principal activity of the Insurance Brokerage.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Concorde Risk Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

20% straight line basis

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Fixed asset investments

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Investments held as fixed assets are stated at cost less provision for any diminution in value.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Concorde Risk Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 5).

4

Tangible assets

Furniture fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

9,952

9,952

Additions

1,305

1,305

At 31 March 2024

11,257

11,257

Depreciation

At 1 April 2023

28

28

Charge for the year

2,246

2,246

At 31 March 2024

2,274

2,274

Carrying amount

At 31 March 2024

8,983

8,983

At 31 March 2023

9,924

9,924

5

Investments

2024
£

(As restated)

2023
£

Investments in subsidiaries

1,000

1,000

 

Concorde Risk Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Debtors

Note

2024
£

(As restated)

2023
£

Trade debtors

 

398,444

339,226

Amounts owed by group undertakings and undertakings in which the company has a participating interest

294,745

281,165

Prepayments

 

26,491

28,449

Other debtors

 

1,000

-

 

720,680

648,840

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

352,906

236,615

Amounts owed to group undertakings and undertakings in which the company has a participating interest

69,600

69,600

Taxation and social security

 

68,914

33,746

Accruals and deferred income

 

6,589

2,051

Other creditors

 

410

445

 

498,419

342,457

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £15,000 (2023 - £15,000).