Registered number
03227206
SELF ASSURED LIMITED
Filleted Accounts
31 January 2024
SELF ASSURED LIMITED
Registered number: 03227206
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 5 1,609 3,768
Current assets
Debtors 6 136,327 127,822
Cash at bank and in hand 3,438,808 3,013,071
3,575,135 3,140,893
Creditors: amounts falling due within one year 7 (748,344) (468,998)
Net current assets 2,826,791 2,671,895
Total assets less liabilities 2,828,400 2,675,663
Capital and reserves
Called up share capital 400 400
Profit and loss account 2,828,000 2,675,263
Shareholders' funds 2,828,400 2,675,663
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ian Woods
Director
Approved by the board on 21 October 2024
SELF ASSURED LIMITED
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes in respect of commissions for insurance brokerage services provided, including policy fees and profit commissions.
Insurance commissions received or receivable that do not require further services to be rendered, are recognised as revenue on the effective commencement or renewal dates of the related policies. However, when it is probable that further services will be required to be rendered during the life of the policy, then the commissions or part of it, are deferred and recognised over the period during which the policy is in force. Policy fees are recognised as revenue at the inception date of the cover and profit commissions are recognised as revenue when payments are due from the insurers.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computers and office equipment over 4 years
Fixtures, fittings, tools and equipment over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Audit information
The audit report is unqualified.
Senior statutory auditor: Kamiljit Sadra
Firm: Majainah Sadra Limited
Date of audit report: 21 October 2024
3 Directors emoluments 2024 2023
£ £
Directors' remuneration 176,025 163,744
176,025 163,744
Directors to whom pension benefits are accruing under:
Money purchase scheme 2 2
4 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 11
5 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023 23,248
Additions 1,609
Disposals (2,125)
At 31 January 2024 22,732
Depreciation
At 1 February 2023 19,480
Charge for the year 3,768
On disposals (2,125)
At 31 January 2024 21,123
Net book value
At 31 January 2024 1,609
At 31 January 2023 3,768
6 Debtors 2024 2023
£ £
Trade debtors 112,025 102,298
Trade debtors - EURO 3,113 5,488
Trade debtors - US$ 8,717 1,513
Interest receivable - Debtors 3,000 1,589
Prepayments - Office rent 972 916
Other debtors - Prepaid Insurance & rent deposits 8,500 16,018
136,327 127,822
7 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 13,037 15,000
Creditors less than 1yr - Dividends payable - minority 230,000 184,000
Taxation and social security costs 356,837 206,802
Staff Expenses due 4,163 1,914
Other creditors 144,307 61,282
748,344 468,998
8 Controlling party
The controlling party is now Katherine Bushell.
9 Other information
These financial statements are reported in sterling.
SELF ASSURED LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Bourne house
475 Godstone Road
Croydon
CR3 0BL
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