REGISTERED NUMBER: |
W.E. Cox Claims Group Limited |
Financial Statements |
for the Year Ended 31 July 2024 |
REGISTERED NUMBER: |
W.E. Cox Claims Group Limited |
Financial Statements |
for the Year Ended 31 July 2024 |
W.E. Cox Claims Group Limited (Registered number: 00700532) |
Contents of the Financial Statements |
for the year ended 31 July 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
W.E. Cox Claims Group Limited |
Company Information |
for the year ended 31 July 2024 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
New Derwent House |
69-73 Theobalds Road |
London |
WC1X 8TA |
W.E. Cox Claims Group Limited (Registered number: 00700532) |
Balance Sheet |
31 July 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
Current assets |
Debtors | 7 |
Cash at bank |
Creditors |
Amounts falling due within one year | 8 |
Net current assets |
Total assets less current liabilities |
Capital and reserves |
Called up share capital |
Share premium |
Retained earnings |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the Board of Directors and authorised for issue on |
W.E. Cox Claims Group Limited (Registered number: 00700532) |
Notes to the Financial Statements |
for the year ended 31 July 2024 |
1. | Statutory information |
W.E. Cox Claims Group Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover represents amounts receivable for services]provided in the year and is stated net of VAT. |
The company received management fee income and rent income for the use of the property from its |
subsidiaries during the year. |
Goodwill |
Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the balance sheet and amortised over its estimated useful life up to a maximum of 5 years. This length of time is presumed to be the maximum useful life of purchased goodwill because it is difficult to make projections beyond this period. Goodwill is reviewed for impairment at the end of the first full financial year following each acquisition and subsequently as and when necessary if circumstances emerge that indicate that the carrying value may not be recoverable. |
Intangible assets |
ntangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. |
Intangible assets acquired on business combinations are recognised separately from goodwill at the |
acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity. |
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: |
Software Over 3 years |
Tangible fixed assets |
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. |
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: |
Plant and machinery Over 5 years |
Computer equipment 33% on cost |
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss. |
W.E. Cox Claims Group Limited (Registered number: 00700532) |
Notes to the Financial Statements - continued |
for the year ended 31 July 2024 |
2. | Accounting policies - continued |
Investments in subsidiaries |
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and |
subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss. |
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 longterm 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. |
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities. |
Financial instruments |
Financial assets and financial liabilities are recognised in the Balance Sheet when the Company becomes a party to the contractual provisions of the instrument. |
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the Company will not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the Company's cash management. |
Financial liabilities and equity instruments issued by the Company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs. |
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
3. | Employees and directors |
The average number of employees during the year was |
W.E. Cox Claims Group Limited (Registered number: 00700532) |
Notes to the Financial Statements - continued |
for the year ended 31 July 2024 |
4. | Intangible fixed assets |
Computer |
Goodwill | software | Totals |
£ | £ | £ |
Cost |
At 1 August 2023 |
and 31 July 2024 |
Amortisation |
At 1 August 2023 |
Amortisation for year |
At 31 July 2024 |
Net book value |
At 31 July 2024 |
At 31 July 2023 |
5. | Tangible fixed assets |
Plant and | Computer |
machinery | equipment | Totals |
£ | £ | £ |
Cost |
At 1 August 2023 |
Additions |
At 31 July 2024 |
Depreciation |
At 1 August 2023 |
Charge for year |
At 31 July 2024 |
Net book value |
At 31 July 2024 |
At 31 July 2023 |
6. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 August 2023 |
and 31 July 2024 |
Net book value |
At 31 July 2024 |
At 31 July 2023 |
W.E. Cox Claims Group Limited (Registered number: 00700532) |
Notes to the Financial Statements - continued |
for the year ended 31 July 2024 |
7. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Amounts owed by associates |
Other debtors |
8. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to associates | 37,942 | 40,334 |
Taxation and social security |
Other creditors |
9. | Ultimate controlling party |
W.E. Cox Claims Group Limited is the immediate, and ultimate parent undertaking of the group, which has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. |
The ultimate parent company's registered office is 2 Leman Street, London, E1W 9US. |
The interest of the directors in that company's share capital can be found in the accounts of that company. |