0 0 Endorsement Limited 06824284 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is holding company in an insurance broking group Digita Accounts Production Advanced 6.30.9574.0 true false true 06824284 2023-04-01 2024-03-31 06824284 2024-03-31 06824284 bus:OrdinaryShareClass1 2024-03-31 06824284 core:CurrentFinancialInstruments 2024-03-31 06824284 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 06824284 core:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments 2024-03-31 06824284 core:ProvisionsForImpairmentInvestments 2024-03-31 06824284 bus:SmallEntities 2023-04-01 2024-03-31 06824284 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06824284 bus:FilletedAccounts 2023-04-01 2024-03-31 06824284 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06824284 bus:RegisteredOffice 2023-04-01 2024-03-31 06824284 bus:Director1 2023-04-01 2024-03-31 06824284 bus:Director2 2023-04-01 2024-03-31 06824284 bus:Director3 2023-04-01 2024-03-31 06824284 bus:Director4 2023-04-01 2024-03-31 06824284 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 06824284 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-04-01 2024-03-31 06824284 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06824284 bus:Agent1 2023-04-01 2024-03-31 06824284 core:OtherRelatedParties 2023-04-01 2024-03-31 06824284 countries:EnglandWales 2023-04-01 2024-03-31 06824284 2022-04-01 2023-03-31 06824284 2023-03-31 06824284 bus:OrdinaryShareClass1 2023-03-31 06824284 core:CurrentFinancialInstruments 2023-03-31 06824284 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 06824284 core:CostValuation 2023-03-31 06824284 core:ProvisionsForImpairmentInvestments 2023-03-31 06824284 bus:OrdinaryShareClass1 bus:CumulativeShares 2022-04-01 2023-03-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 06824284

Endorsement Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Endorsement Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 7

 

Endorsement Limited

Company Information

Directors

N Attwood

N Presland

O Meir-Stacey

R Katzaros

Registered office

63 Devonshire Road
Cambridge
Cambridgeshire
CB1 2BL

Accountants

Bourner Bullock Chartered Accountants
114 St Martin's Lane
Covent Garden
London
WC2N 4BE

 

Endorsement Limited

(Registration number: 06824284)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

5

37,573

41,280

Current assets

 

Debtors

-

1,416

Cash at bank and in hand

 

73

44

 

73

1,460

Creditors: Amounts falling due within one year

6

(1,388)

(2,641)

Net current liabilities

 

(1,315)

(1,181)

Net assets

 

36,258

40,099

Capital and reserves

 

Called up share capital

7

269,298

269,298

Retained earnings

(233,040)

(229,199)

Shareholders' funds

 

36,258

40,099

 

Endorsement Limited

(Registration number: 06824284)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 March 2025 and signed on its behalf by:
 

.........................................
N Presland
Director

   
     
 

Endorsement Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
63 Devonshire Road
Cambridge
Cambridgeshire
CB1 2BL
United Kingdom

Principal activity

The principal activity of the Company is holding company in an insurance broking group

These financial statements were authorised for issue by the Board on 25 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Exemption from preparing group accounts

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small sized group.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for management charges rendered to the company's subsidiary in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

 

Endorsement Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. The functional currency of the company is sterling. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

There were no dividends paid or proposed in the current year or the previous year.

 

Endorsement Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

3

Significant judgements and key sources of estimation uncertainty

Judgements

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 balance sheet 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. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

4

Staff numbers

The average number of persons employed by the Company (including directors) during the year, was 0 (2023 - 0).

5

Investments

2024
£

2023
£

Shares in group undertakings and participating interests

Investments in subsidiaries

37,573

41,280

Subsidiaries

£

Cost or valuation

At 1 April 2023 and 31 March 2023

227,547

Provision

At 1 April 2023

186,267

Increase of provision

3,707

At 31 March 2024

189,974

Carrying amount

At 31 March 2024

37,573

At 31 March 2023

41,280

 

Endorsement Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

-

1,320

Accruals and deferred income

1,386

1,320

Other creditors

2

1

1,388

2,641

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

269,298

269,298

269,298

269,298

       

8

Dividends

Final dividends paid

2024
£

2023
£

Final dividend of £Nil per each Ordinary shares

-

-

 

 

9

Related party transactions

Hercules Limited
Endorsement Limited owns 65.2% of Hercules Limited, a company incorporated in Gibraltar. During the year Hercules Limited paid £1,354 (2023: £1,416) worth of management charges to Endorsement Limited. As at the year end, Hercules Limited owed £nil (2023:£nil).