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Cotson Reddish & Company (Insurance Brokers) Ltd
Registered Number:01184957
For the year ended 31 July 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 31 July 2024
Cotson Reddish & Company (Insurance Brokers) Ltd
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
01184957
As at 31 July 2024
Cotson Reddish & Company (Insurance Brokers) Ltd
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
233,705
236,910
2
233,705
236,910
Current assets
Trade and other receivables
15,195
6,987
3
49,175
Cash and cash equivalents
85,189
92,176
64,370
Trade and other payables: amounts falling due within one year
(57,669)
(59,836)
4
6,701
32,340
Net current assets
Total assets less current liabilities
266,045
243,611
266,045
Net assets
243,611
Capital and reserves
Called up share capital
1,100
1,100
Revaluation reserve
159,495
161,489
5
Retained earnings
105,450
81,022
266,045
243,611
Shareholders' funds
For the year ended 31 July 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr A Cotson Director
These financial statements were approved and authorised for issue by the Board on 28 April 2025 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 July 2024
Cotson Reddish & Company (Insurance Brokers) Ltd
Notes to the Financial Statements
Statutory Information
Cotson Reddish & Company (Insurance Brokers) Ltd is a private limited company, limited by shares, domiciled in England and
Wales, registration number 01184957.
Registered address:
The Old Bank
1 Albert Road
Saltaire
Shipley
BD18 4NR
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting
Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
The financial statements have been prepared under the historical costs convention as modified by the revaluation of certain
assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and buildings
1% Straight line
25% Reducing balance
Computer equipment
10% Reducing balance
Fixtures and fittings
The company''s freehold properties were professionally valued in 2003. This valuation has been reduced by subsequent
depreciation. Under the transitional provisions of the Financial Reporting Standard for Smaller Entities (effective January
2015) the properties continue to be stated at that valuation less accumulated depreciation to date and that valuation has not
been updated.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a method giving a constant rate of return on the balance outstanding.
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5
For the year ended 31 July 2024
Cotson Reddish & Company (Insurance Brokers) Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
Land and
buildings
£
£
£
£
Cost or valuation
At 01 August 2023
394,982
61,192
33,790
300,000
At 31 July 2024
300,000
33,790
61,192
394,982
Provision for depreciation and impairment
At 01 August 2023
158,072
61,128
31,896
65,048
Charge for year
3,205
16
189
3,000
At 31 July 2024
161,277
61,144
32,085
68,048
At 31 July 2024
Net book value
231,952
1,705
48
233,705
At 31 July 2023
234,952
1,894
64
236,910
In respect of certain fixed assets stated at valuations, the comparable historical cost and depreciation values are as follows:
Historical cost
£
100,625
At 01 August 2023
Depreciation
27,162
At 01 August 2023
Charge for year
1,006
At 31 July 2024
28,168
73,463
Net historical cost value:
At 31 July 2023
At 31 July 2024
72,457
3. Trade and other receivables
2023
2024
£
£
Trade debtors
4,142
13,364
Other debtors
2,845
1,831
15,195
6,987
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6
For the year ended 31 July 2024
Cotson Reddish & Company (Insurance Brokers) Ltd
Notes to the Financial Statements Continued
4. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Trade creditors
45,063
46,659
Taxation and social security
9,036
4,598
Other creditors
5,737
6,412
59,836
57,669
5. Reserves
Total
£
Revaluation reserve at 01 August 2023
161,489
Transfer to profit and loss account
(1,994)
159,495
Revaluation reserve at 31 July 2024
6. Guarantees and other financial commitments
Lease commitments
At 31 July 2024 the company had annual commitments under non-cancellable operating leases as set out below:
2023
£
2024
£
Operating leases which expire:
243
403
Within 2 to 5 years
403
243
7. Average number of persons employed
During the year the average number of employees was 3 (2023 : 3)
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