Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-3002023-05-01No description of principal activityfalse89falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01003646 2023-05-01 2024-04-30 01003646 2022-05-01 2023-04-30 01003646 2024-04-30 01003646 2023-04-30 01003646 c:Director1 2023-05-01 2024-04-30 01003646 c:Director2 2023-05-01 2024-04-30 01003646 d:FurnitureFittings 2023-05-01 2024-04-30 01003646 d:FurnitureFittings 2024-04-30 01003646 d:FurnitureFittings 2023-04-30 01003646 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 01003646 d:OfficeEquipment 2023-05-01 2024-04-30 01003646 d:OfficeEquipment 2024-04-30 01003646 d:OfficeEquipment 2023-04-30 01003646 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 01003646 d:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 01003646 d:OtherPropertyPlantEquipment 2024-04-30 01003646 d:OtherPropertyPlantEquipment 2023-04-30 01003646 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 01003646 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 01003646 d:ComputerSoftware 2024-04-30 01003646 d:ComputerSoftware 2023-04-30 01003646 d:OtherResidualIntangibleAssets 2023-05-01 2024-04-30 01003646 d:CurrentFinancialInstruments 2024-04-30 01003646 d:CurrentFinancialInstruments 2023-04-30 01003646 d:Non-currentFinancialInstruments 2024-04-30 01003646 d:Non-currentFinancialInstruments 2023-04-30 01003646 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 01003646 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 01003646 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 01003646 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 01003646 d:ShareCapital 2024-04-30 01003646 d:ShareCapital 2023-04-30 01003646 d:RetainedEarningsAccumulatedLosses 2024-04-30 01003646 d:RetainedEarningsAccumulatedLosses 2023-04-30 01003646 c:FRS102 2023-05-01 2024-04-30 01003646 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 01003646 c:FullAccounts 2023-05-01 2024-04-30 01003646 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 01003646 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2023-05-01 2024-04-30 01003646 2 2023-05-01 2024-04-30 01003646 7 2023-05-01 2024-04-30 01003646 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 01003646 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 iso4217:GBP xbrli:pure

Registered number: 01003646









ISRAEL, GORDON & CO. LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
ISRAEL, GORDON & CO. LIMITED
REGISTERED NUMBER: 01003646

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 5 
14,580
-

Tangible fixed assets
 6 
52,886
14,982

  
67,466
14,982

Current assets
  

Debtors: amounts falling due within one year
 7 
1,319,339
1,340,431

Cash at bank and in hand
  
3,414,549
2,994,169

  
4,733,888
4,334,600

Creditors: amounts falling due within one year
 9 
(4,264,759)
(3,829,538)

Net current assets
  
 
 
469,129
 
 
505,062

Total assets less current liabilities
  
536,595
520,044

Creditors: amounts falling due after more than one year
 10 
(12,500)
(22,504)

Provisions for liabilities
  

Deferred tax
 11 
(10,048)
(2,847)

  
 
 
(10,048)
 
 
(2,847)

Net assets
  
514,047
494,693


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
513,047
493,693

  
514,047
494,693


Page 1

 
ISRAEL, GORDON & CO. LIMITED
REGISTERED NUMBER: 01003646
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

The directors consider 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 directors acknowledge their 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 on 8 January 2025.



R M Israel
G R Israel
Director
Director

Page 2

 
ISRAEL, GORDON & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Israel, Gordon & Co. Limited is a private company limited by shares and registered in England and Wales. The address of its registered office is 2 Sekforde Court, 217 St John Street, London, EC1V 4LY.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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.

Turnover comprises commission and fees receivable in the year in respect of insurance intermediary services. Commissions for brokering the deals are agreed with the insurance provider. Where fees are receivable, these are agreed with the client. All commission and fees are receivable when the insurance premiums are invoiced. 

 
2.3

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.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25% Reducing balance
Office equipment
-
25% Reducing balance
Other fixed assets
-
10% Straight line

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 the statement of comprehensive income.

Page 3

 
ISRAEL, GORDON & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks, other third parties and loans to related parties.

 
2.5

Foreign currency translation

The Company's functional and presentational currency is GBP.
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange gains and losses are recognised in the statement of income and retained earnings.

 
2.6

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the period until the date the rent is expected to be adjusted to the prevailing market rate.

 
2.7

Pensions

The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

 
2.8

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the reporting date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the reporting date.

 
2.9

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.10

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.

 
2.11

Borrowing costs

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

Page 4

 
ISRAEL, GORDON & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.13

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 Amortisation is provided on the following bases:

Website
-
%
20% straight line


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the reporting date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.
Tangible assets
Tangible assets are depreciated over their useful lives taking into account residual values where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending upon a number of factors. In re-assessing the assets' lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account.

Page 5

 
ISRAEL, GORDON & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Employees

The average monthly number of employees, including directors, during the year was 8 (2023 - 9).


5.


Intangible assets




Website costs

£



Cost


Additions
14,580



At 30 April 2024

14,580






Net book value



At 30 April 2024
14,580



At 30 April 2023
-



Page 6

 
ISRAEL, GORDON & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Tangible fixed assets





Fixtures and fittings
Office equipment
Other fixed assets
Total

£
£
£
£



Cost or valuation


At 1 May 2023
14,362
35,041
-
49,403


Additions
644
-
46,050
46,694


Disposals
-
(1,578)
-
(1,578)



At 30 April 2024

15,006
33,463
46,050
94,519



Depreciation


At 1 May 2023
14,103
20,318
-
34,421


Charge for the year on owned assets
226
3,584
4,605
8,415


Disposals
-
(1,203)
-
(1,203)



At 30 April 2024

14,329
22,699
4,605
41,633



Net book value



At 30 April 2024
677
10,764
41,445
52,886



At 30 April 2023
259
14,723
-
14,982


7.


Debtors

2024
2023
£
£


Trade debtors
1,259,393
1,270,811

Other debtors
19,575
26,963

Prepayments and accrued income
40,371
42,657

1,319,339
1,340,431


Page 7

 
ISRAEL, GORDON & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

8.


Cash in bank and at hand

2024
2023
£
£



Cash at bank - Client trust accounts
2,208,621
2,042,735

Cash at bank - Office accounts
1,205,928
951,434

3,414,549
2,994,169


9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
3,256,969
3,059,618

Corporation tax
286
2,834

Other taxation and social security
31,522
33,797

Other creditors
100,786
63,059

Accruals and deferred income
865,196
660,230

4,264,759
3,829,538



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
12,500
22,504



The Bank loan relates to a Bounce Back Loan that was taken by the company as a result of COVID-19. The loan is secured by the UK Government in accordance with the Bounce Back Loan Scheme.
Interest on the loan value is 2.5% per annum. The loan is repayable by quarterly instalments of £2,500  and will be fully repaid by July 2026.

Page 8

 
ISRAEL, GORDON & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

11.


Deferred taxation




2024


£






At beginning of year
2,847


Charged to profit or loss
7,201



At end of year
10,048

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
10,048
2,847


12.


Pension commitments

The company operates a defined contribution 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 paid by the company to the fund and amounted to £53,826 (2023: £45,051).
Contributions totalling £5,000 (2023: £1,713) were payable to the fund at the reporting date and are included in creditors.


13.


Related party transactions

During the year the company paid rent of £75,837 (2023: £75,836) to the directors of the company. At the reporting date, the company owed £55,018 (2023: £30,469) to the directors of the company, which is included in other creditors. The balance is not subject to interest and is repayable on demand.
The company has not entered into any other transactions with related parties that are material and that have not been concluded under normal market conditions. 

 
Page 9