Registered number
01262851
Richmond House Insurance Brokers Ltd
Unaudited Filleted Accounts
30 June 2024
Richmond House Insurance Brokers Ltd
Registered number: 01262851
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 9,765 14,364
Current assets
Debtors 4 1,507,656 1,297,675
Cash at bank and in hand 858,403 955,809
2,366,059 2,253,484
Creditors: amounts falling due within one year 5 (1,424,505) (1,527,683)
Net current assets 941,554 725,801
Total assets less current liabilities 951,319 740,165
Provisions for liabilities (1,173) (1,105)
Net assets 950,146 739,060
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 949,146 738,060
Shareholders' funds 950,146 739,060
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Lesley Smith
Director
Approved by the board on 12 February 2025
Richmond House Insurance Brokers Ltd
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Fixtures & Fittings over 4 years
Computer Equipment over 3 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 14 14
3 Tangible fixed assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
At 1 July 2023 116,603 72,340 188,943
Additions - 2,531 2,531
At 30 June 2024 116,603 74,871 191,474
Depreciation
At 1 July 2023 111,484 63,095 174,579
Charge for the year 1,319 5,811 7,130
At 30 June 2024 112,803 68,906 181,709
Net book value
At 30 June 2024 3,800 5,965 9,765
At 30 June 2023 5,119 9,245 14,364
4 Debtors 2024 2023
£ £
Trade debtors 881,015 1,027,617
Amounts owed by Lesley & Co Holdings Ltd and Richmond House Group Ltd (the parent company) 608,799 247,206
Other debtors 17,842 22,852
1,507,656 1,297,675
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,258,170 1,406,136
Taxation and social security costs 160,358 116,903
Other creditors 5,977 4,644
1,424,505 1,527,683
6 Controlling party
The ultimate controlling party is a Company, Lesley & Co Holdings Ltd who controls the company's parent undertaking Richmond House Group Ltd.
7 Other information
Richmond House Insurance Brokers Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Rear Office of Manor House
21 High Street
Baldock
Hertfordshire
SG7 6AZ
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