Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falsetruefalseNo description of principal activity55falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06449227 2023-04-01 2024-03-31 06449227 2022-04-01 2023-03-31 06449227 2024-03-31 06449227 2023-03-31 06449227 c:Director1 2023-04-01 2024-03-31 06449227 d:FurnitureFittings 2023-04-01 2024-03-31 06449227 d:FurnitureFittings 2024-03-31 06449227 d:FurnitureFittings 2023-03-31 06449227 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06449227 d:ComputerEquipment 2023-04-01 2024-03-31 06449227 d:ComputerEquipment 2024-03-31 06449227 d:ComputerEquipment 2023-03-31 06449227 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06449227 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06449227 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 06449227 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 06449227 d:CurrentFinancialInstruments 2024-03-31 06449227 d:CurrentFinancialInstruments 2023-03-31 06449227 d:Non-currentFinancialInstruments 2024-03-31 06449227 d:Non-currentFinancialInstruments 2023-03-31 06449227 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 06449227 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 06449227 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 06449227 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 06449227 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 06449227 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 06449227 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 06449227 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 06449227 d:ShareCapital 2024-03-31 06449227 d:ShareCapital 2023-03-31 06449227 d:RetainedEarningsAccumulatedLosses 2024-03-31 06449227 d:RetainedEarningsAccumulatedLosses 2023-03-31 06449227 c:FRS102 2023-04-01 2024-03-31 06449227 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06449227 c:FullAccounts 2023-04-01 2024-03-31 06449227 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06449227 6 2023-04-01 2024-03-31 06449227 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-04-01 2024-03-31 06449227 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 06449227









GPS INSURANCE BROKERS LTD








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
GPS INSURANCE BROKERS LTD
REGISTERED NUMBER: 06449227

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
752
1,002

Tangible assets
 5 
3,286
4,382

  
4,038
5,384

Current assets
  

Debtors: amounts falling due within one year
 6 
496,933
430,234

Cash at bank and in hand
 7 
66,510
109,086

  
563,443
539,320

Creditors: amounts falling due within one year
 8 
(178,005)
(176,845)

Net current assets
  
 
 
385,438
 
 
362,475

Total assets less current liabilities
  
389,476
367,859

Creditors: amounts falling due after more than one year
 9 
(121,639)
(206,687)

  

Net assets
  
267,837
161,172


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
266,837
160,172

  
267,837
161,172


Page 1

 
GPS INSURANCE BROKERS LTD
REGISTERED NUMBER: 06449227
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
G I Philip
Director

Date: 23 October 2024

Page 2

 
GPS INSURANCE BROKERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

GPS Insurance Brokers Limited is a private company, limited by shares. The company is incorporated in England and Wales and the address of its registered office is Aston House, Cornwall Avenue, London, N3 1LF. The registered number is 06449227.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

  
2.3

Intangible fixed assets

Website development costs are capitalised within intangible assets where they can be identified with a specific product or project anticipated to produce future benefits. The costs are not amortised in this period as the project has not yet commenced.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
GPS INSURANCE BROKERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures & fittings
-
25% reducing balance
Computer equipment
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 4

 
GPS INSURANCE BROKERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 5).

Page 5

 
GPS INSURANCE BROKERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Intangible assets




Development expenditure

£



Cost


At 1 April 2023
5,735



At 31 March 2024

5,735



Amortisation


At 1 April 2023
4,733


Charge for the year on owned assets
250



At 31 March 2024

4,983



Net book value



At 31 March 2024
752



At 31 March 2023
1,002



Page 6

 
GPS INSURANCE BROKERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Fixtures & fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
14,028
19,468
33,496



At 31 March 2024

14,028
19,468
33,496



Depreciation


At 1 April 2023
12,302
16,812
29,114


Charge for the year on owned assets
432
664
1,096



At 31 March 2024

12,734
17,476
30,210



Net book value



At 31 March 2024
1,294
1,992
3,286



At 31 March 2023
1,726
2,656
4,382

Page 7

 
GPS INSURANCE BROKERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Trade debtors
216,478
152,779

Other debtors
280,455
277,455

496,933
430,234



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
66,510
109,086

66,510
109,086



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
64,048
64,048

Corporation tax
109,672
108,101

Other taxation and social security
2,247
2,522

Other creditors
2,038
2,174

178,005
176,845



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
121,639
206,687

121,639
206,687


Page 8

 
GPS INSURANCE BROKERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
64,048
64,048


64,048
64,048

Amounts falling due 1-2 years

Bank loans
49,000
70,000


49,000
70,000

Amounts falling due 2-5 years

Bank loans
72,639
136,687


72,639
136,687


185,687
270,735



11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £13,488 (2023: £13,304).


12.


Transactions with directors

Included in other creditors is an amount of £1,644 (2023: £1,785) due to the director, G I Philip. This amount was unsecured, interest free and repayable on demand.
During the year, dividends of £200,000 (2023: £72,000) were paid to the directors.






 
Page 9