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REGISTERED NUMBER: 01022249 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

BLW INSURANCE BROKERS LTD

BLW INSURANCE BROKERS LTD (REGISTERED NUMBER: 01022249)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BLW INSURANCE BROKERS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: B J Sainty
M F Greenwood
J Quill
A M Brownlee
I M Stephen
M Gilbert
Ms E Barclay





SECRETARY: M F Greenwood





REGISTERED OFFICE: 12 Station Court
Station Approach
Wickford
Essex
SS11 7AT





REGISTERED NUMBER: 01022249 (England and Wales)





ACCOUNTANTS: Connah Goldsworthy
Chartered Certified Accountants
12 Station Court
Station Approach
Wickford
Essex
SS11 7AT

BLW INSURANCE BROKERS LTD (REGISTERED NUMBER: 01022249)

BALANCE SHEET
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 85,771 80,290

CURRENT ASSETS
Debtors 5 1,146,382 610,369
Cash at bank 450,652 610,327
1,597,034 1,220,696
CREDITORS
Amounts falling due within one year 6 1,262,312 962,182
NET CURRENT ASSETS 334,722 258,514
TOTAL ASSETS LESS CURRENT
LIABILITIES

420,493

338,804

CREDITORS
Amounts falling due after more than one
year

7

26,853

32,217
NET ASSETS 393,640 306,587

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 392,640 305,587
SHAREHOLDERS' FUNDS 393,640 306,587

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 February 2025 and were signed on its behalf by:





M F Greenwood - Director


BLW INSURANCE BROKERS LTD (REGISTERED NUMBER: 01022249)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

BLW Insurance Brokers Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue recognition - turnover
The company generates revenue principally from brokerage, commission, and fees associated with placing insurance contracts and programmes. Brokerage, commission, and fees on instalments not due until after the year-end are recognised on the inception of the insurance contracts concerned, which is when the placement services have been substantially completed. Adjustments to brokerage, commissions, and fees are recognised when they can be ascertained with reasonable certainty, which is normally when the amounts concerned are advised or confirmed by the relevant third parties.

Insurance debtors and creditors
The Company acts as an insurance broker placing insurable risks of its clients with insurers and as such is not liable as principal for the amounts arising from such transactions. The company discloses the premiums receivable from its clients, premiums received and held in trust and balances due to the insurers within its balance sheet. Disclosure is made of the net insurance surplus within note 10 to the accounts.

Turnover
Turnover comprises commissions, fees, and brokerage receivable during the year, and is attributable to the continuing activity, of insurance broking within the United Kingdom.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - in accordance with the property
Plant and machinery etc - 33% on cost and 10% on reducing balance

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.

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.

BLW INSURANCE BROKERS LTD (REGISTERED NUMBER: 01022249)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 11 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2024 2,500 114,698 117,198
Additions - 18,910 18,910
At 31 December 2024 2,500 133,608 136,108
DEPRECIATION
At 1 January 2024 813 36,095 36,908
Charge for year 250 13,179 13,429
At 31 December 2024 1,063 49,274 50,337
NET BOOK VALUE
At 31 December 2024 1,437 84,334 85,771
At 31 December 2023 1,687 78,603 80,290

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Insurance debtors 964,810 490,091
Other debtors 181,572 120,278
1,146,382 610,369

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 5,556 5,556
Insurance creditors 1,212,714 900,170
Taxation and social security 13,810 13,203
Other creditors 30,232 43,253
1,262,312 962,182

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans 26,853 32,217

8. ULTIMATE CONTROLLING PARTY

The controlling party is S & G Risk Solutions Limited.

The ultimate controlling party is S & G Risk Solutions Limited.

BLW INSURANCE BROKERS LTD (REGISTERED NUMBER: 01022249)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

9. NET INSURANCE BROKING SURPLUS

2024 2023

Insurance Debtors (note 6) 964,810 490,091

Insurance cash (see below) 443,319 588,783

Insurance Creditors (note 7) (1,212,714 ) (900,170 )

Net insurance broking surplus 195,415 178,704

Included within cash at bank balances of £450,652 (2023 £610,327) in the balance sheet is a Client Statutory Trust account held separately to the firm's own money. The bank has no right of set-off for this money. The balance on the Client Statutory Trust account on 31st December 2024 was £443,319 (2023 £588,783).