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Registration number: 06432257

Affinitive Insurance Brokers Limited

Unaudited Financial Statements

for the Year Ended 31 March 2025

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Affinitive Insurance Brokers Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Affinitive Insurance Brokers Limited

Company Information

Directors

RWF Hungate

M Connor

Registered office

Brebners
2nd Floor
130 Shaftesbury Avenue
London
W1D 5EU

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Affinitive Insurance Brokers Limited

Statement of Financial Position as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

11,502

11,909

Current assets

 

Debtors

5

641,248

463,302

Cash at bank and in hand

 

23,268

100,640

 

664,516

563,942

Creditors: Amounts falling due within one year

6

(256,270)

(331,183)

Net current assets

 

408,246

232,759

Total assets less current liabilities

 

419,748

244,668

Creditors: Amounts falling due after more than one year

6

(91,459)

(14,167)

Provisions for liabilities

(2,875)

(2,977)

Net assets

 

325,414

227,524

Capital and reserves

 

Called up share capital

30,003

30,003

Retained earnings

295,411

197,521

Shareholders' funds

 

325,414

227,524

For the financial year ending 31 March 2025 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.

 

Affinitive Insurance Brokers Limited

Statement of Financial Position as at 31 March 2025

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The directors have elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, section 444.

Approved and authorised by the Board on 22 May 2025 and signed on its behalf by:
 

.........................................

RWF Hungate

Director

Company registration number: 06432257

 

Affinitive Insurance Brokers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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:
Brebners
2nd Floor
130 Shaftesbury Avenue
London
W1D 5EU

The principal activity of the company is that of the provision of insurance services.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Disclosure of long or short period

These financial statements relate to the year ended 31 March 2025. The comparatives relate to the period from 1 December 2022 to 31 March 2024.

Going concern

The company made a profit for the year ended 31 March 2025 and had net assets at that date of £325,414. The company has continued to trade profitably subsequent to 31 March 2025 and the directors believe this will continue.

On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operation existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of commission income received or receivable for the provision of insurance services in the ordinary course of the company's activities. Turnover is shown net of Value Added Tax, rebates and discounts.

Commission is recognised on the inception date of the insurance policies.

 

Affinitive Insurance Brokers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in
the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, Fittings and equipment

25% Reducing balance

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

 

Affinitive Insurance Brokers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company during the year, was 9 (2024 - 9).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2024

62,099

62,099

Additions

3,234

3,234

At 31 March 2025

65,333

65,333

Depreciation

At 1 April 2024

50,190

50,190

Charge for the year

3,641

3,641

At 31 March 2025

53,831

53,831

Carrying amount

At 31 March 2025

11,502

11,502

At 31 March 2024

11,909

11,909

5

Debtors

2025
£

2024
£

Trade debtors

41,044

39,910

Other debtors

600,204

423,392

641,248

463,302

 

Affinitive Insurance Brokers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Loans and borrowings

7

10,000

10,000

Trade creditors

 

7,466

3,433

Taxation and social security

 

177,502

210,006

Other creditors

 

61,302

107,744

 

256,270

331,183

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Loans and borrowings

7

4,167

14,167

Other creditors

 

87,292

-

 

91,459

14,167

7

Loans and borrowings

2025
£

2024
£

Current loans and borrowings

Bank loan

10,000

10,000

2025
£

2024
£

Non-current loans and borrowings

Bank loan

4,167

14,167

The bank loan is secured by a fixed and floating charge over the assets and undertakings of the company.

8

Transactions with directors

At 31 March 2025 an amount of £373,836 (2024: £153,660) was due from the directors. During the year, there were advances of £490,071 and repayments of £276,219. Interest of £6,324 (2024: £7,308) is payable to the company at 2.25% pa, there are no set terms in place.

9

Non adjusting events after the financial period

Subsequent to 31 March 2025, dividends totalling £23,750 were declared and paid.