REGISTERED NUMBER: |
STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
PETER BEST INSURANCE SERVICES LIMITED |
REGISTERED NUMBER: |
STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
PETER BEST INSURANCE SERVICES LIMITED |
PETER BEST INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 02210270) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Directors | 4 |
Report of the Independent Auditors | 6 |
Income Statement | 10 |
Other Comprehensive Income | 11 |
Balance Sheet | 12 |
Statement of Changes in Equity | 13 |
Cash Flow Statement | 14 |
Notes to the Cash Flow Statement | 15 |
Notes to the Financial Statements | 16 |
PETER BEST INSURANCE SERVICES LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Suite 3, Steeple House |
Church Lane |
Chelmsford |
Essex |
CM1 1NH |
PETER BEST INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 02210270) |
STRATEGIC REPORT |
FOR THE YEAR ENDED 31 MAY 2024 |
The directors present their strategic report for the year ended 31 May 2024. |
REVIEW OF BUSINESS |
The Company is a member of the Grove & Dean insurance broking group based in Hornchurch. |
The company's principal activity during the year continued to be that of motor vehicle insurance broking, specialising in the classic car market to clients throughout the UK. |
The directors continue to put emphasis on: |
- staff training and awareness of operational procedures |
- progressive utilisation of progressive screening procedures through the group's uniquely internally developed software allowing faster and enhanced efficiency in converting business. |
- retention of existing customers as repeat customers. |
- attracting new business with high levels of customer service both electronically and personally. |
- overall enhanced customer satisfaction. |
This together with recovering instance market generally saw revenue increase by 33% to £2,107,284 (2023: £1,582,229) resulting in an increased profit before tax of £824,975 (2023: £417,821). |
These continuing good results reflect the benefit of marketing and operational efficiencies from being part of the Grove & Dean group. |
Key performance Indicators |
The directors believe that it is equally important to recognise the results as adjusted for "EBITDA", being Earnings before interest, tax, depreciation and amortisation |
Adjusting the reported pre-tax profits this shows that "EBITDA" has increased from £422,124 to £666,803. |
As at 31 May 2024, the financial position showed Net assets had increased to £965,587 compared to £751,927, after payment of a dividend totalling £300,000. |
PETER BEST INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 02210270) |
STRATEGIC REPORT |
FOR THE YEAR ENDED 31 MAY 2024 |
PRINCIPAL RISKS AND UNCERTAINTIES |
Financial Risks |
The Company manages liquidity risk through constant cash flow monitoring and forecasting. As at 31 May 2024 the Company held total funds of £2,020,615 (2023: £1,661,965) of which own funds amounted to £1,243,408 (2023: £765,107). |
There is no material third party finance. |
The Company provides credit to customers via a third party premium financing specialist. The funding is on a recourse basis where the Company is liable for any risk on non-payment. This exposure is actively monitored. |
Strategic Risks |
The insurance market is highly competitive and represents risk for businesses trading within it. The Company manages risk by maintaining a significant level of ongoing investment in systems, people and brand awareness. Performance is monitored on a day to day basis. |
Compliance Risks |
The Company is regulated by the Financial Conduct Authority (FCA). The Company monitors and reviews all regulatory requirements and has necessary procedures in place to ensure compliance. |
Operational Risks |
The success of the Company's operations is dependent on the effectiveness of employees in providing the highest service levels for both new and existing clients. The Directors ensure that the Company continues to have the required resources for continuing development and growth. |
All employees are monitored for performance and regular internal and external training is provided to all employees at all levels, in order to maintain the highest levels of performance and the highest level of customer satisfaction. The effectiveness of operational controls is monitored and maintained via internal compliance and training teams. |
ON BEHALF OF THE BOARD: |
PETER BEST INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 02210270) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 31 MAY 2024 |
The directors present their report with the financial statements of the company for the year ended 31 May 2024. |
DIVIDENDS |
Total dividends paid for the year ended 31 May 2024 were £300,000. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 June 2023 to the date of this report. |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
PETER BEST INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 02210270) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 31 MAY 2024 |
AUDITORS |
The auditors, CBHC (Audit) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE BOARD: |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
PETER BEST INSURANCE SERVICES LIMITED |
Opinion |
We have audited the financial statements of Peter Best Insurance Services Limited (the 'company') for the year ended 31 May 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
_ |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 31 May 2024 and of its profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
PETER BEST INSURANCE SERVICES LIMITED |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
PETER BEST INSURANCE SERVICES LIMITED |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity and determined that the most significant are those that relate to the Financial Conduct Authority (FCA) Regulation. In addition, the reporting framework relevant to the company is FRS 102 and the Companies Act 2006. |
Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations above. |
We made enquiries of those charged with compliance to determine any issues arising. We corroborated our findings by reviewing Board Minutes, correspondence with Companies House and the FCA. Nothing was noted that contradicted the explanations given to us. |
Financial Statement disclosures were tested for completeness. |
We assessed the risks of material misstatement in respect of fraud as being low due to the nature of the business. We made enquires relating to fraud with the company's management. |
We considered the risk of fraud through management override and, in response, we incorporated testing of manual journals throughout the year and reviewed any unusual transactions throughout our audit. |
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
PETER BEST INSURANCE SERVICES LIMITED |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Suite 3, Steeple House |
Church Lane |
Chelmsford |
Essex |
CM1 1NH |
PETER BEST INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 02210270) |
INCOME STATEMENT |
FOR THE YEAR ENDED 31 MAY 2024 |
31/5/24 | 31/5/23 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
OPERATING PROFIT | 4 |
Interest receivable and similar income |
PROFIT BEFORE TAXATION |
Tax on profit | 5 |
PROFIT FOR THE FINANCIAL YEAR |
PETER BEST INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 02210270) |
OTHER COMPREHENSIVE INCOME |
FOR THE YEAR ENDED 31 MAY 2024 |
31/5/24 | 31/5/23 |
Notes | £ | £ |
PROFIT FOR THE YEAR |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
PETER BEST INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 02210270) |
BALANCE SHEET |
31 MAY 2024 |
31/5/24 | 31/5/23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
CURRENT ASSETS |
Debtors | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 10 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings | 12 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
PETER BEST INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 02210270) |
STATEMENT OF CHANGES IN EQUITY |
FOR THE YEAR ENDED 31 MAY 2024 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 June 2022 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 31 May 2023 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 31 May 2024 |
PETER BEST INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 02210270) |
CASH FLOW STATEMENT |
FOR THE YEAR ENDED 31 MAY 2024 |
31/5/24 | 31/5/23 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 |
Tax paid | ( |
) | ( |
) |
Net cash from operating activities |
Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
) | ( |
) |
Sale of tangible fixed assets |
Interest received |
Net cash from investing activities | ( |
) |
Cash flows from financing activities |
Equity dividends paid | ( |
) | ( |
) |
Net cash from financing activities | ( |
) | ( |
) |
Increase in cash and cash equivalents |
Cash and cash equivalents at beginning of year |
2 |
1,079,891 |
Cash and cash equivalents at end of year | 2 | 2,020,615 | 1,661,965 |
PETER BEST INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 02210270) |
NOTES TO THE CASH FLOW STATEMENT |
FOR THE YEAR ENDED 31 MAY 2024 |
1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
31/5/24 | 31/5/23 |
£ | £ |
Profit before taxation |
Depreciation charges |
Loss on disposal of fixed assets |
Intercompany Movement | 212,853 | 25,818 |
Finance income | (23,088 | ) | (1,966 | ) |
887,657 | 447,942 |
Decrease/(increase) in trade and other debtors | ( |
) |
(Decrease)/increase in trade and other creditors | ( |
) |
Cash generated from operations |
2. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
Year ended 31 May 2024 |
31/5/24 | 1/6/23 |
£ | £ |
Cash and cash equivalents | 2,020,615 | 1,661,965 |
Year ended 31 May 2023 |
31/5/23 | 1/6/22 |
£ | £ |
Cash and cash equivalents | 1,661,965 | 1,079,891 |
3. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1/6/23 | Cash flow | At 31/5/24 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 1,661,965 | 358,650 | 2,020,615 |
1,661,965 | 2,020,615 |
Total | 1,661,965 | 358,650 | 2,020,615 |
PETER BEST INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 02210270) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
1. | STATUTORY INFORMATION |
Peter Best Insurance Services Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Revenue is based on administration fees charged on Insurance Policies. Revenue recognised at the point an Insurance Policy is written, renewed or amended. |
Tangible fixed assets |
Improvements to property | - |
Office equipment | - |
Fixtures and fittings | - |
Computer equipment | - |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
PETER BEST INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 02210270) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Insurance premiums trade debtors and creditor |
Trade Debtors include gross amounts due from customers on Insurance Premiums including the premium due to insurers. Premiums due to insurers are included in Trade Creditors. |
3. | EMPLOYEES AND DIRECTORS |
31/5/24 | 31/5/23 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
The average number of employees during the year was as follows: |
31/5/24 | 31/5/23 |
Employees |
31/5/24 | 31/5/23 |
£ | £ |
Directors' remuneration |
4. | OPERATING PROFIT |
The operating profit is stated after charging: |
31/5/24 | 31/5/23 |
£ | £ |
Other operating leases |
Depreciation - owned assets |
Loss on disposal of fixed assets |
Auditors remuneration |
Auditors' remuneration for non audit work |
PETER BEST INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 02210270) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
5. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
31/5/24 | 31/5/23 |
£ | £ |
Current tax: |
UK corporation tax |
Deferred taxation | ( |
) |
Tax on profit |
6. | DIVIDENDS |
31/5/24 | 31/5/23 |
£ | £ |
Final |
7. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Office | and | Computer |
property | equipment | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 June 2023 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
At 31 May 2024 |
DEPRECIATION |
At 1 June 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
PETER BEST INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 02210270) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/5/24 | 31/5/23 |
£ | £ |
Trade debtors |
Prepayments and accrued income |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/5/24 | 31/5/23 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation |
Other creditors |
Accruals and deferred income |
10. | PROVISIONS FOR LIABILITIES |
31/5/24 | 31/5/23 |
£ | £ |
Deferred taxation | 2,894 | 3,946 |
Deferred |
tax |
£ |
Balance at 1 June 2023 |
Provided during year | ( |
) |
Balance at 31 May 2024 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31/5/24 | 31/5/23 |
value: | £ | £ |
Ordinary | £1 | 1,000 | 1,000 |
PETER BEST INSURANCE SERVICES LIMITED (REGISTERED NUMBER: 02210270) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
12. | RESERVES |
Retained |
earnings |
£ |
At 1 June 2023 |
Profit for the year |
Dividends | ( |
) |
At 31 May 2024 |
13. | ULTIMATE PARENT COMPANY |
Grove & Dean (Holdings) Limited is regarded by the directors as being the company's ultimate parent company. |
14. | RELATED PARTY DISCLOSURES |
At the year end, the company owed £424,282 (2023 - £211,430) to Grove & Dean Limited, a company under common control. |
Expenses totalling £388,725 were recharged from Grove & Dean Limited to Peter Best Insurance Services Limited in the year. |