1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-06-01 Sage Accounts Production Advanced 2024 - FRS102_2024 235,115 35,268 11,756 47,024 188,091 199,847 xbrli:pure xbrli:shares iso4217:GBP 09620534 2023-06-01 2024-05-31 09620534 2024-05-31 09620534 2023-05-31 09620534 2022-06-01 2023-05-31 09620534 2023-05-31 09620534 2022-05-31 09620534 core:NetGoodwill 2023-06-01 2024-05-31 09620534 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 09620534 bus:Director1 2023-06-01 2024-05-31 09620534 core:NetGoodwill 2023-05-31 09620534 core:NetGoodwill 2024-05-31 09620534 core:WithinOneYear 2024-05-31 09620534 core:WithinOneYear 2023-05-31 09620534 core:AfterOneYear 2024-05-31 09620534 core:AfterOneYear 2023-05-31 09620534 core:ShareCapital 2024-05-31 09620534 core:ShareCapital 2023-05-31 09620534 core:RetainedEarningsAccumulatedLosses 2024-05-31 09620534 core:RetainedEarningsAccumulatedLosses 2023-05-31 09620534 core:NetGoodwill 2023-05-31 09620534 bus:SmallEntities 2023-06-01 2024-05-31 09620534 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 09620534 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 09620534 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 09620534 bus:FullAccounts 2023-06-01 2024-05-31 09620534 bus:OrdinaryShareClass1 2024-05-31 09620534 bus:OrdinaryShareClass1 2023-05-31
COMPANY REGISTRATION NUMBER: 09620534
COOPER DARWIN LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 May 2024
COOPER DARWIN LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2024
Contents
Page
Balance sheet 1
Notes to the financial statements 2
COOPER DARWIN LIMITED
BALANCE SHEET
31 May 2024
2024
2023
Note
£
£
Fixed assets
Intangible assets
5
188,091
199,847
Current assets
Debtors
6
43,268
50,776
Cash at bank and in hand
1,904
3,238
------------
------------
45,172
54,014
Creditors: amounts falling due within one year
7
105,423
114,507
------------
------------
Net current liabilities
60,251
60,493
------------
------------
Total assets less current liabilities
127,840
139,354
Creditors: amounts falling due after more than one year
8
20,842
53,204
------------
------------
Net assets
106,998
86,150
------------
------------
Capital and reserves
Called up share capital
9
1,000
1,000
Profit and loss account
105,998
85,150
------------
------------
Shareholders funds
106,998
86,150
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 18 December 2024 , and are signed on behalf of the board by:
Mr J Eastwood
Director
Company registration number: 09620534
COOPER DARWIN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Northumberland House, Northumberland Street, Huddersfield, West Yorkshire, HD1 1DT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The company generates revenue principally from brokerage, commission and fees associated with placing insurance and reinsurance contracts. Revenues from brokerage, commission and fees are recognised at the point at which placement services are complete. Any adjustments to premiums are treated as recognised when the consideration due is confirmed by third parties. Fees are billed separately and are recognised as these services are rendered.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. The goodwill will be amortised from the start of the first full year of activity on 1 June 2020.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial liabilities and equity instruments are classified according to the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Intangible assets
Goodwill
£
Cost
At 1 June 2023 and 31 May 2024
235,115
------------
Amortisation
At 1 June 2023
35,268
Charge for the year
11,756
------------
At 31 May 2024
47,024
------------
Carrying amount
At 31 May 2024
188,091
------------
At 31 May 2023
199,847
------------
The goodwill was amortised from the start of the first full year of activity on 1 June 2020. The directors undertook an impairment review at 31 May 2024. No provision was deemed necessary based on the forecast profitability and cash generation from the underlying client bases. Amortisation will continue over 20 years on a straight line basis, this being the estimated useful economic life of the assets acquired.
6. Debtors
2024
2023
£
£
Prepayments and accrued income
4,983
6,544
Other debtors
38,285
44,232
------------
------------
43,268
50,776
------------
------------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
7,648
18,547
Other creditors
97,775
95,960
------------
------------
105,423
114,507
------------
------------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
20,842
53,204
------------
------------
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
1,000
1,000
1,000
1,000
------------
------------
------------
------------